Expert answer:I need help with a business and finance question
Answer & Explanation:BE THE MANAGE1.docx
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BE THE MANAGER
You supervise a team of marketing analysts who work on different snack products in a large
food products company. The marketing analysts have recently received undergraduate degrees
in business or liberal arts and have been on the job between one and three years. Their
responsibilities include analyzing the market for their respective products, including
competitors; tracking current marketing initiatives; and planning future marketing campaigns.
They also need to prepare quarterly sales and expense reports for their products and estimated
bud-gets for the next three quarters; to prepare these reports, they need to obtain data from
financial and accounting analysts assigned to their products. When they first started on the job,
you took each marketing analyst through the reporting cycle, explaining what needs to be done
and how to accomplish it and emphasizing the need for timely reports. Although preparing the
reports can be tedious, you think the task is pretty straightforward and easily accomplished if
the analysts plan ahead and allocate sufficient time for it. When reporting time approaches,
you remind the analysts through e-mail messages and emphasize the need for accurate and
timely reports in team meetings. You believe this element of the analysts’ jobs couldn’t be
more straightforward. However, at the end of each quarter, the majority of the analysts submit
their reports a day or two late, and, worse yet, your own supervisor (to whom the reports are
eventually given) has indicated that information is often missing and sometimes the reports
contain errors. Once you started getting flak from your supervisor about this problem, you
decided you had better fix things quickly. You met with the marketing analysts, explained the
problem, told them to submit the reports to you a day or two early so you could look them
over, and more generally emphasized that they really needed to get their act together.
Unfortunately, things have not improved much and you are spending more and more of your
own time doing the reports.
Questions
1. How can you motivate the analysts to ensure accurate and timely reporting?
…
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