Artemis Sportswear Company Research Paper
Artemis Sportswear Company Research Paper The current state of sportswear companies has evolved in to several powerhouses that populate the majority of the market today. These companies spend an exorbitant amount of money on sales, marketing, and even operational expenses. They also spend money on consultants who recommend cost cutting measures while maintaining profit and revenue targets. Most people are familiar with companies such as Nike, Adidas, Reebok, and even Puma. However, one will struggle to find an individual who knows anything about Artemis Sportswear Company. Artemis Sportswear Company is not a household name but has remained competitive in the marketplace through continued operational efficiencies, and extraordinary employees who feel rewarded. Artemis does not have monetary capital to retain efficiency consultants like their major competitors do, therefor this analysis will identify their immediate course of action without hiring outside interest. Artemis Sportswear Company is not alone in the ongoing effort to reduce cost while increasing profit margins through continued revenue growth. In the current economic state of the world, this task is not easy to accomplish. However, reducing operational expenses to increase profit margins is exactly what Artemis Sportswear Company must do if they want to remain successful. It’s also very important to consider the impact on employees when cutting operational expenses. If these strategies are not thoughtfully and tastefully implemented, Artemis might find several employees looking for alternative places of employment. While the effect of cutting operational expenses on employees can be very dramatic, cutting operational expenses is mandatory in business today. One must consider several factors when formulating a plan to cut expenses. In this analysis, we will consider general guidelines, short-term strategy, travel and sales team expenses, and finally facilities expenses. One can choose
References: Agan, T., & Ellwood, I. (2008, July). CMOs Must Be a Part of cost-cutting Talks.. Advertising Age, 79(23-23), 1/3. In-Text Citation Burge, Tony, (2010). Managing Through a Recession: Part 2 - Reducing & Controlling Costs | Entrepreneur & Self-Employed Business Journal Business Knowledge Source. (n.d.). Marketing and Sales Info. Retrieved from http://www.businessknowledgesource.com/marketing/tips_for_making_your_operating_profit_margins_higher_027850.html Steverman, B. (2008). Cutting Costs to Increase Profits. BusinessWeek Online, 3. Retrieved from Business Source Complete database. http://www.docstoc.com/docs/3245220/How-to-Improve-Your-Net-Profit http://www.signindustry.com/management/articles/2004-02-02-ControllingCosts-MB.php3