Reference no: EM132355543

CAMELOT RECORDS: Those Were the Days (Page 82-84)

Mr. Miguelito Salde worked very hard as salesman of recorded music. He represented a company which distributes compact discs and cassette tapes with foreign labels. For about ten years, he personally called on dealers in Metro Manila and the provinces to convince them to buy his products. His exposure to the industry provided him with the right mindset to establish his own recording outfit. With his mind working, Miguelito hatched a plan on how he will go about operating his own company: the Camelot Records. In addition to his knowledge about the market, he collected information on the production aspect of recording. The plan and the required information were all stored in Miguelito's memory. Later, Miguelito mentally prepared a financial plan, as well as a personnel recruitment program, no matter how crude they are. When he thought that his business plan is complete, he began to implement it with the required speed. He worked systematically by following a procedure he alone knows, and explaining to his recruits the exact functions of each of them. Within a few months of operating, the company was able to produce two long playing cassette tapes and CDs with recordings of original Filipino music. Local singers and composers were tapped. The market received moderate response. Miguelito went on producing more recorded music until one of the first ten albums became a commercial hit! This feat catapulted the company to recognition by the industry. The company's commercial hits were followed by other hits in succession. All of the successful moves of the company were made without the benefit of a written plan. What Miguelito did was to personally supervise all activities from hiring talents to providing directions to salesmen. This he did vigorously with the company's total workforce of 51 employees. As the company grew with more productions and more than 200 employees, Miguelito's immediate subordinates are getting worried that their boss must be feeling the burden of a workload that is getting heavier as the years pass. The staff feels that their leader must begin to delegate some of the responsibilities to qualified persons. They thought that to be fully organized, a written plan must be devised so every employee could effectively assist in implementing the various projects of the company. When the staff mentioned to Miguelito about the importance of a written plan, Miguelito replied by saying: "This company was organized without written plan; it became successful without a written plan; it will continue to be so without a written plan.

Questions:

1) What are the possible adverse effect to business of Miguelito's no written plan strategy.

2) Explain the value of shared planning as a requisite to strategic business growth.