Chique Fashion Executive Summary

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Recommended: Challenges faced while implementing total quality management

5.0 MANAGEMENT PLAN Chique Fashion is a Limited Liability Corporation founded by five initial members and incorporated in the state of Florida. Our CEO’s long term strategy looks well beyond the seed stage and into the mature stage of the company’s life cycle. This forward thinking strategy is the driving force behind a collective decision to establish a Board of Directors, as well as the retention of key specialists and advisors. The initial management team is comprised of only a few key members, but as we grow, we will take on additional help in certain key management areas. This means each member of the initial management team will have to take on numerous responsibilities - not uncommon of a lean startup such as ours. By doing this, we will keep our overhead as low as possible, allowing us to adequately staff other key positions. This will also allow us to recoup investments as quickly as possible and enjoy a higher return. 5.1 Board of Directors - Names and Qualifications …show more content…

Board members are the fiduciaries who steer the organization towards a sustainable future by adopting sound, ethical, and legal governance and financial management policies, as well as by making sure the company has adequate resources to advance its mission. More so, it will set policies for the company and goals for leadership; including evaluating the overall performance of the company (Decker, 2016). The goals of the Board of Directors here at Chique Fashion is to insure profitability and encourage Total Quality Management throughout the entire organization. The Board will adopt and monitor quality measures to ensure the company maximizes profits by providing foresight, oversight, and insight. Lastly, it will review the financial strength and decide on the salary scale of the CEO. The board of directors is currently comprised of the following

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