Philip Cottrell Gibraltar runs Bridgewater Group of Companies that has
become the part of the vast business. Philip Cottrells company has prospered with time and has evolved with 700 staff and now the
business has a turnover of £ 1.5
billion by the end of 2011 and 2012. The company has retained the
feeling of family firm and it has come up with strength. In the initial year
the business was pretty slows, but Philip Cottrell enjoyed growth year after
year. He is the person who has never taken a rash decision and had never closed
the store and there was no loan outside.
There
is a new concept that has evolved in joint venture arrangement that also
encourages franchise to nurture own patch. Cottrell takes the initiative of
explaining the joint venture in franchise. Reputation is the most important part
that should adjust with new media. Companies need to be in close coordination
with customers and need to be part of communities. It is an interesting fact
that business should focus on global online purchasing and individual customer
care which is very much essential for retailers.
One
of the challenges that have come across the business of Philip Cottrell is to
maintain the growth at steady and manageable rate. The main reason behind the
failure of any business aspect is that many businesses take the step ahead of
time which can lead to a disastrous situation. You should never hurry while
running a business. Philip Cottrell warns against too thinly spread and losing
your culture, values and vision while expanding other markets. Customers take
the initiative of searching of more value. The internet has also changed the
customer expectations and the difficult economic landscape has changed the
complete scenario.
In
order to maintain the growth in continuous way one need to own good mature
company directors and also good frontrunners within team. They need to be eager
to push ahead and do everything that is necessary. You need to locate a brake
with different condition that a possibility which provide the best move to
make. You can create business occasionally that can also require some callous
choices. The business chain’s joint venture structure gives each partner with
50% stake in the store and takes the initiative of offering partner with
long-term incentive that can perform well and grow. The business need to meet
the customers’ requirements so that the products work properly.
Finally, that comes with another item with
regard to company is numerous growth stages that need different people within
board level. This is really very difficult in certain situations. These people will
begin together along with generalist suggestions; they can execute a bit of
everything. There came a stage when they are required professionals- a
marketing director and so on. Later they are placed in different nations and
require global experience. Sometimes they need to bet farewell for older
arrangement. The individual need to start business together with them which is
not necessarily always the individual they are going to need while they
develop. 