Assuming that, due to the economic crisis caused by the Corona pandemic and the drop in oil and gas prices, the sales of Salam International Investment Ltd. decreased by 10% during the fourth quarter of 2019 and the decline continued in the first and second quarters of 2020. In addition, assume that this situation resulted in a decrease in the company’s net profit by 25% and an increase in the company’s costs and expenses by 35% in the same period mentioned.
a. As the director of the company, what decisions will you take to deal with this situation during the year 2020 in terms of employees, products, prices, promotions, supply and chains, and logistics …etc. in order to control the costs and expenses, increase sales, and maintain the company’s profits?
b. As the manager of the company, what business strategy/strategies will you follow during the next three years to deal with the current situation and the expected future situation?
The report must be in bullet points with discussion