Table of ContentsOperational InefficienciesMarketing StrategiesFinancial ManagementConclusionIn the case of UMUC Haircuts, business owner Myra Morningstar faces several challenges that impact the success and profitability of her salon . The case highlights various issues including operational inefficiency, marketing strategies and financial management. This essay will provide a comprehensive summary of the UMUC Haircuts case, analyzing the key issues faced by Myra Morningstar and proposing potential solutions to address these challenges. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayOperational InefficienciesOne of the main problems Myra Morningstar faces is operational inefficiencies within her salon. The case highlights that Myra is the sole employee of UMUC Haircuts and is responsible for all aspects of the business, including providing haircuts to customers, managing the front desk and managing job duties administrative. This overwhelming workload not only impacts the quality of service provided to customers, but also limits the company's growth potential. According to a study conducted by the Small Business Administration, a key factor in small business success is effective operations management. Inefficient operations can lead to increased costs, decreased productivity, and ultimately hinder the overall success of the business (Small Business Administration, n.d.). To address operational inefficiencies at UMUC Haircuts, Myra should consider hiring additional staff to help with her daily tasks. -daily operations of the salon. By delegating tasks such as administrative duties and front desk management to other employees, Myra can focus on providing high-quality haircuts to customers and growing the business. Additionally, implementing a streamlined scheduling and appointment system can help improve operational efficiencies and ensure customers receive fast, reliable service. Marketing Strategies Another significant challenge that Myra Morningstar faces is the lack of effective marketing strategies to attract new customers and retain existing customers. The case mentions that UMUC Haircuts relies primarily on word-of-mouth referrals and has minimal online presence and marketing efforts. This limited marketing approach hinders the salon's ability to reach a broader customer base and maximize its revenue potential. A study conducted by the American Marketing Association found that effective marketing strategies are essential for small businesses to increase brand awareness, attract new customers, and develop customer loyalty (American Marketing Association, n.d.). By implementing targeted marketing campaigns, leveraging social media platforms, and creating a professional website, UMUC Haircuts can significantly improve its visibility and attract new customers. Myra should also consider implementing a customer loyalty program to encourage repeat customers to return and reward repeat customers. Offering promotions, discounts and special offers can encourage customers to return to UMUC Haircuts and increase their lifetime value to the business. Financial Management The case also highlights financial management as a key challenge for UMUC Haircuts. Myra Morningstar struggles to keep accurate financial records, track expenses and monitor.