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Assignment 3-Business plan

1.0 Executive Summary

Technological innovations should be integral in our business strategy.

Within the today‟s realities of business operation, customer satisfaction is regarded as the

core criterion that predetermines the quality of provided services. Companies that are able to

critically assess customer expectations and match those to their capacities win competitive

advantage on the contemporary marketplace. The comprehension of parameters particular to

services necessitates company‟s management to continuously improve quality standards to

assure a company leading positions in the course of fierce competition (Smith et al., 1985).

Compared to goods, the parameters of service quality are more complex and vary (Lewis,

1989). Therefore, full-fledged understanding of customers‟ needs and expectations is a

critical issue on the today‟s service rendering agenda.

The following business plan describes one of the modern innovative ideas with regard

to the digital innovations. We cannot imagine our life without digital innovations; it helps us

a lot in the modern life. Hence, we need a good and professional business-plan. Especially, if

we need to find investors to our project, we should try to ask them to spend sums of money

for creation, production, and spreading of our new product.

Most people think a lot about the digital innovations and how we can use them in our

lives, how we can create something new. Create some ideas which can change the world.

Consider that the topic of airports is rather important in our time. Lots of people use them

to make flights, to reach some another country or continent. And of course, sometimes people

spend a lot of time in the airports; there are a lot of advantages and disadvantages in the

airports. One of the main disadvantages is overcrowded airports. Another problem is luggage.

Sometimes we spend a lot of time waiting for our luggage, sometimes our baggage can fly to

any other country or even continent and we need to wait for unknown time. We never know

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for sure when we will receive our baggage, we can see the announcements only if 15 minutes

rest or less before the arrival of baggage. Also sometimes somebody else can take our

baggage if our cases are similar. And this is also a big problem for the tourists.

To solve some of these problems, this paper suggest you the new product of digital

innovations – to create a new type of baggage cart to support the airport luggage system. It

will be a smart cart. This smart new baggage cart is different with the traditional baggage

carts.

1.1 Objectives

The main intention is to create a new type of baggage cart to support airport luggage

system. The baggage cart doesn't only help and deliver customers baggage. When customers

arrived at airport, they needed to spend much time for waiting to take back their baggage.

They will be worry about their baggage, because they don't know how much time for waiting.

1.2 Mission

Two versions comprise the essence of the proposed innovation. The first is a general

time displayed at the luggage claim area that indicates when everyone's luggage will start to

arrive at the carousel. Another version is a personal message available on smart phones that

would tell customers when their own personal luggage will arrive at the carousel. Both

versions suggest using barcode technology so that luggage could be scanned at various points

to update the arrival time. Please think about bag tag information and disavantage.

1.3 Keys to Success

The smart new baggage cart is different with the traditional baggage cart. At first, it

can deliver the waiting time to airport system. It means when the worker put the baggage in

the baggage cart, it will evaluate the distance and transportation time and send the data to

airport control system manager. After that, airport control system manager will show the

waiting time to customer in the baggage board. It can help the customer know the time. It can

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control the time effectively and solve the waiting problem.

This innovation except different with the traditional luggage system. It improve more

space and provide more helpful function for customer and worker.

2.0 Company Summary

Our company was created several years ago. Main aim of our company was to work

with digital innovations, to find out something new in the digital sphere, to implement and

testify new ideas. For our management team members we selected people only with

University Education on the technical specialities.

A lot of our members, during their studying in the University took part in different

scientific conferences and forums, took part in the Olympiads on technical subjects. Some of

them wrote the researches papers on interesting scientific topics. Some of their works were

printed in the scientific magazines. So, we tried to invite for our job young specialists in

science. In science, it also in the computer programs, because we can not imagine the digital

innovations without the computer technologies. In our work we of course will use internet

and web sites. So, at first we collected our team which consisted of highly qualified

specialist. Then, we need to create some slogan of the company. The slogan will show the

aim and policy of our company. We decided to have the slogan “Digital innovations in the

service of man‟s peace”

2.1 Company Ownership

As to the structure of the enterprise in the future – it will be multinational enterprise

with high developed structure of branches all over the world. The main enterprise will be in

the Australia. It will cover every step of the process beginning from breeding new varieties of

digital innovations , producing them, then packaging, distributing all over the world using

highly developed logistic scheme, and controlling the process of selling in foreign countries.

The firm will be the owner of the small plant for production area, big high technological

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laboratory to create, select and control the developing of new types of luggage carts, big

marketing department which will be responsible for the spreading the products all over the

world, purchasing department responsible for buying all necessary thing for the production

and developing of the enterprise, the service of main technical specialist, which will be

responsible for the quality of production. Hence, for the first time we need to find an investor.

2.2 Start-up Plan

Before selling, we need to know the market well, customer needs, where they are and

how to reach them. Market analysis is very important in our case. For the present moment

this idea is unique. None of the airports of the world use it. Everywhere the system is

standard.

This innovation except different with the traditional luggage system. It improves more

space and provides more helpful function for customers and workers. Compare with

traditional baggage cart, it didn't have this function.

We think this product will have success because of the customers‟ needs. This

innovation is very convenient for the customers of the airport. This service will make

customer happy because they can get more information about their luggage security. They

will not have to spend time or anymore waiting for luggage. They will at once know when

their luggage will arrive. They will receive notification on their smart phones.

All this will make the life of the customers and visitors in the airport easier and more

convenient.

Traditional baggage system becomes obsolete; we can propose more modern and

comfortable system. Of course, there are also disadvantages. One of the main disadvantages –

is the novelty of this system. Both people and workers/managers of the airports will need

time to be accustomed to it. Also there are must be some technical decision in the airports,

because before implanting new innovation, we need to change technical parameters.

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Changing technical parameters will take time; also will take time the creation of

worldwide database for the new luggage system. Also we need to protect our innovation from

falsifying; we need to receive a patent on our digital innovation.

Now it is time to speak about the strategy and implementation. Strategy and

Implementation: to be specific, we need to include management responsibilities with dates

and budgets. We will make sure we can track results.

The most important thing in this affair – is to begin. I propose to begin from one

airport in Australia. I think after all the preparations; we can start at the end of 2011.

Receive patent on the innovation – September 2011

Start to renovation of the baggage system – November 2011, Budget for this – around

100 000 $.

Modernization of scanners to scan the luggage carts – December 2011 – January

2012, Budget for this – 75 000$

Making of electronic sensors at the way where the luggage will pass – start time

February 2012, budget – 50 000 $

Creation of fix station communications at the airport – start time February 2012, end

time May 2012, budget – 150 000$.

Production of baggage carts – May 2012, budget 120 000$.

Trainning of personnel – August 2012.

Regarding the strategy – it will be the following. At first we patent our digital

innovation, then upgrade the technical system of the airport, implement new equipment, after

all buy the baggage carts, then train the personnel.

The works can be done without closing the airport. Maybe some parts of it will be

closed. But at the time of testing we need to close the airport for 2-3 hours.

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5) Web Plan Summary: For e-commerce, including discussion of website

development costs, operations, sales and marketing strategies.

We will create a web site for our project. At first the aim of the web site will be the

testing of the peoples‟ opinion about the new digital innovation. We will find out all the

advantages and disadvantages of the project. Maybe we‟ll be able to add something.

The creation of good web site with new technologies, graphics, and 3 D picture will

cost around 35 000$.

Development costs each month will stand 5-7 000 $.

With the help of web site we will make advertisements.

Also we will create the hot line; people will be able to telephone any moment if

something will happen or just to ask questions about the new system. This will cost around

1000 $.

In the future we will create a call-center. Stands around 57 000$.

Our web site will be modern, with using of new technologies, created by a good team

of highly qualified specialists in graphics, design, 3 D format, programmers and software

developers.

The salary to personnel will stand – 65 000 $ for the time of developing and

5 000$/month for one person at the start of working. The team will consist of 6 people.

2.3 Company Locations and Facilities

The company will consist of several departments, among which including marketing

and PR department, which will be responsible for advertising and PR policy of the enterprise,

taking part in foreign exhibitions, then the purchasing department, which will be responsible

for the buying of all the necessary products and spare parts for the main production, the

export and import departments, which will be responsible for the contracts for selling

products, one of the main departments will be the research scientific laboratory, which will be

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responsible for scientific researches and experiments of new digital innovations, also will be

the testing technical department which will be responsible for testing all the production which

will be produced, finding the advantages and disadvantages. All of the departments will be

controlled by General Director.

3.0 Products and Services

Considering that the topic of airports is rather important in our time. Lots of people use

them to make flights, to reach some another country or continent. And of course, sometimes

people spend a lot of time in the airports; there are a lot of advantages and disadvantages in

the airports. One of the main disadvantages is crowd of people in the airport. Another

problem is luggage. Sometimes we spend a lot of time waiting for our luggage, sometimes

our baggage can fly to any other country or even continent and we need to wait for unknown

time. We never know for sure when we will receive our baggage, we can see the

announcements only if 15 minutes rest or less before the arrival of baggage. Also sometimes

somebody else can take our baggage if our cases are similar. And this is also a big problem

for the tourists.

3.1 Product and Service Description

The innovative idea lies in the field of advantages for passengers and visitors of the

airports. With baggage there are always problems in all the countries of the world. Before

receiving our luggage we can wait for a lot of time, and the worst thing that sometimes our

luggage can travel without us to any country of the world. The baggage carts which we

receive after registration have a lot of disadvantages. None of them guarantee us to receive

the luggage in time, and we almost never know when we‟ll be able to receive it. We propose

two ways of the solving of this problem. Both ways are connected with new types of carts.

The first idea, which is smart new baggage cart which can deliver the waiting time to

airport system. The first would be a general time displayed at the luggage claim area that

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indicates when everyone‟s luggage will start to arrive at the carousel. Another version might

be a personal message on smart phones that would tell customers when their own personal

luggage will arrive at the carousel.

In either case, we need to use the barcode technology so that the luggage could be

scanned at various points to update the arrival time.

This will be a new type of baggage cart to support airport luggage system. The

baggage cart doesn't only help and deliver customers baggage. When customers arrived at

airport, they needed to spend unknown time for waiting to take back their baggage. They will

be worry about their baggage and angry for waiting, because they don't know how much time

for waiting and some of luggage are missing.

Of course, this smart new baggage cart is different with the traditional baggage cart.

At first, it can deliver the waiting time to airport system. It means when the worker put the

baggage in the baggage cart, they need to scan the luggage bar code. After that, it will

evaluate the distance and transportation time and send the data to airport control system

manager. After that, airport control system manager will show the waiting time to customer

in the baggage board. It can help the customer know the time. This service can control the

time effectively and solve the waiting problem.

This innovation except different with the traditional luggage system. It improves more

space and provides more helpful function for customers and workers.

3.2 Competitive Comparison

Our new system has a lot of advantages, but we also need to modernize some systems

of the airports. Hence, it is necessary to create a common worldwide database; all the airports

of the world will have access to it. Because our luggage is to travel to all countries. We think

in some years after all the innovations and modernization, it will be a very clear and easy-to-

use system.

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3.3 Sales Literature

3.4 Sourcing and Fulfillment

We need to make contracts with telecom operates and air lines to enable sending sms

to smart phones of our clients. In addition, we may need to create fix station communications

at the airports.

3.5 Technology

For using this idea we need, of course, to change a bit structure of the airports. At first

we need to make electronic sensors at the way where the luggage will pass. We need the

electronic sensors to read the barcodes on the luggage carts. We also need to have good

modern scanners to scan the luggage carts.

3.6 Future Products and Services

We will create a web site for our project. At first the aim of the web site will be the

testing of the peoples‟ opinion about the new digital innovation. We will find out all the

advantages and disadvantages of the project. Maybe we‟ll be able to add something.

The creation of good web site with new technologies, graphics, and 3 D picture will

cost around 35 000$.

4.0 Market Analysis Summary

4.1 Market Segmentation

Market Segmentation is applied to identify similarities and differences among focus

groups of customers.

4.2 Target Market Segment Strategy

The marketing mix concept (Borden, 1964) as an effective model to implement the

marketing strategies to satisfy both organizational and consumer purposes. We will apply

marketing mix to reach and expand target markets by combining our product offerings

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through the distribution channels onto the competitive marketplace. We consider this

possibility as the core prerequisite of the sales success (Wall and Rees, 2004).

4.2.1 Market Needs

We can further expand our business operations into new market segments featured by

high competition. Our strategic operation will be featured by high level of insensitivity to

individual market needs, and therefore further enhancement of market share will demand

considerable amount of time and effort. The centralized system is primarily intended to win

local competition rather than invade global markets, wherein particular customers‟ needs

should be considered and satisfied.

4.2.2 Market Trends

We will develop innovative luggage cart service to provide our customers with more

convenience. Our philosophy is primarily focused on the offering of great value to the

customers. We will permanently monitor the newest market trends to maintain the

competitive advantage. Our service is entirely oriented towards the customer satisfaction by

valuing the latter with fantastic opportunities.

4.2.3 Market Growth

According to the product/market growth matrix, our growth will further depend on the

marketing of the existing products in the new markets.

4.3 Industry Analysis

This idea is very profitable and it will be very convenient for the customers. The main

idea of this project is to make the life of customers of the airport easier and to modernise the

old one baggage system.

4.3.1 Industry Participants

4.3.2 Distribution Patterns

Speaking about marketing and distributing of our digital innovation – we will hire a good

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team of marketers; they will create special procedure of distributing product. We can use all

the services of advertising, and we would turn to big companies with good budget to be our

investors and to contribute to our project.

We will need an investor, maybe a foreign one. Our budget is around 150 000 $, so

we need extra investments into our project. I think as it is connected with digital innovations

it is rather interesting topic and this idea can be competitive.

There is always the peak and the recession of the business activity. As for me, the best

way to do our presentation is when it is the peak of the economy and business activity. We

will have success in our affair. Some investors will be ready to invest money in our project.

Their affairs will be at the peak and they will be ready to invest in some interesting and

developing project. Nowadays a lot of investors are ready to invest in Digital Innovations,

because it is a new field of science and it is very useful and profitable field.

4.3.3 Competition and Buying Patterns

One of the most important issues on the contemporary agenda concerns marketers‟

ability to cope with threats generated by the external environment. Naturally, every company

serves its particular (determined) target segment, while end-customers are becoming more

and more demanding of the quality of goods and services they consume. To this end, market

strategy comprises an integral part of overall business strategy, and impacts on environmental

capacities and distinctive competencies of companies.

4.3.4 Main Competitors

Establishing distinctive competence, as a core of organizational strategy, necessitates

the availability and advancement of supply chains, marketing and promotion, skilled staff,

communication channels, and cutting-edge technologies, which would distinguish a company

from its rivals. Namely, distinctive competence is considered as a source of competitive

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advantage, as well as the key to the establishment and maintenance of business environment

which best benefits companies‟ target segments.

5.0 Strategy and Implementation Summary

Our strategic implementation is grounded on management innovations and

outsourcing. To this end, as part of its business strategy, the company has developed unique

and consistent activity system that ensures a sustained competitive advantage (Dess et al.,

2004).

5.1 Strategy Pyramids

Conventional pyramid of values has dramatically shifted from the pure consuming

needs (consisting of specific product availability and affordability; compliance of the set

price to customer expectations; sales and service convenience; and credibility of product

reliability and quality), to the more personified values (consisting of mutual loyalty between

customer and company; overall satisfaction in accordance with customer demands and

expectations; permanence, assuming that the company considers customer concerns; and

personification reflected in the company‟s individual approach to its every customer)

5.2 Value Proposition

We will try to achieve incomparable degree of operational concentration and co-

ordination. Another competitive advantage is value-added dimension which will put us

beyond competition.

5.3 Competitive Edge

5.4 Marketing Strategy

PESTLE investigates the important factors that are affecting the industry and

influencing the companies operating in that sector. Overall PESTLE analysis is a perfect tool

vastly applied by managers to analyze the forces that are driving their industry and how these

forces influence their businesses and the whole industry in general.

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The next strategic approach is „Scenario Planning‟, which serves as a technique to

establish a variety of viewpoints and positions regarding the future of a company‟s business.

In turn, „Five Forces Analysis‟ is applied as a strategic tool to identify the forces that

influence the level and specific feature of competition in a particular industry.

„Directional Policy Matrix‟ is a technique used to summarise the competitive strength

of a business‟ operations in particular markets.

„Competitor Analysis‟ – helps to define overall competitive position. „Critical Success

Factor Analysis‟ identifies the areas wherein a company outperforms the competition to

become successful and profitable. As well as these, the companies also apply critical success

factor analysis and the five forces – as a theory that identifies score factors that impact market

and business development, including existing competitors, potential entrants, suppliers,

buyers and alternative products and/or services.

Finally, SWOT Analysis summarizes key features of internal and external

environment that influences company‟s operations. Overall, SWOT is applied to objectively

analyze a company‟s strengths, weaknesses further opportunities and possible threats

regarding its business. SWOT encourages the companies to capitalise on strengths, minimise

weaknesses, optimally use all available opportunities and eliminate any possible threats. In

accordance with the international management practices, many companies apply the

following method to conduct SWOT analysis.

Considering the effects of these marketing strategies, it is rather important that a

company builds up a sustainable franchise system that can be easily transferred into the terms

of local markets, including strong local presentation, product acceptance, and local support

(Connell, 1999).

5.4.1 Positioning Statement

Strategic positioning is determined by the choice of appropriate pricing techniques.

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5.4.2 Pricing Strategy

While emphasizing on high quality of its products, effective promotion and sound

advertising, as well as value for money, the company applies competitive pricing strategy to

ensure that the adjusted prices do not exceed those of the competitors‟. This strategic choice

is reasonable and justified since regardless of individual taste preferences or any other

essential factors, consumers regard product value as one of the most decisive factors while

making their purchasing decisions. Therefore, we cannot apply skimming pricing technique

in the course of designing and launching a new product. This technique can be applied under

the conditions of inelastic demand.

5.4.3 Promotion Strategy

Our marketing communications plan consists in the development of an effective

public relations campaign to address the potential target groups. Within the framework of the

communications campaign, we will gradually apply the following marketing tools to enable

sound promotion of the Academy‟s coaching services: viral marketing, direct marketing, e-

mail marketing and distribution of catchy flyers.

5.4.4 Distribution Patterns

If our brand image collapses, other companies will capitalize on the opportunity and

take market share. In order to combat these threats, we need to maintain a highly adaptable

yet robust strategy. Even though we have huge investments in fixed assets, we need to be

willing to abandon or alter these assets to fit the consumer preferences and the market. We

can expect some companies to find niche markets where we cannot compete, however, we

should leverage our efficiency and distribution channels to be the lowest cost provider and

undercut these competitors. Second, we should focus on customer service to ensure brand

loyalty.

5.4.5 Marketing Programs

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We will apply the methods of effective e-advertising through informative corporate

web site. Ordering online, each customer is offered payment plans with discounts and

proffered options to choose. At that, H&M should strive to make it best to ensure that their

customers are buying the very best

5.5 Sales Strategy

Our managers are responsible for planning and coordinating each stage of marketing

plans, outlining budgets and timeframes to help identify and forecast customer demands.

Thus, the work of the Unilever‟s marketing manager involves market research, product

development, pricing, sales and distribution, and promotion of the product. In actual fact, all

Unilever's marketing managers spend time writing marketing and promotional briefs, giving

presentations, briefing agencies and other departments, monitoring a campaign‟s progress and

writing marketing strategies (Das, 1991).

5.5.1 Sales Forecast

5.5.2 Sales Programs

Our marketing channels are aimed at the consumer market. The company is focusing

much on the needs and wants of the consumer and what exactly differentiates its products

from the competition to develop more sales in this market. Thus, Cadbury is working on the

promotion of its direct model to create a better position for itself in the consumer market. The

peculiarity of Cadbury‟s advertising campaign consists in its focus on the emotions of the

chocolate lovers compared to merely logical side of marketing and sales. In such a way,

Cadbury reassures its customer support by applying strong emotional advertising campaign

focusing on the preferences and likes of the consumers when they opt for a chocolate

purchase. In addition to faster transactions, shorter lines and happier customers, such strategic

approach to market modeling enables to see interaction with the business through the eyes of

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the customer, understand customers‟ values and demands, and seek ways to disrupt the

competitive balance. For these purposes, the company is applying such customer-oriented

sources as print media, television, radio, Internet, as well as social networks.

5.6 Strategic Alliances

5.7 Milestones

6.0 Web Plan Summary

Social networks such as facebook, twitter, e-mails, forums, chats, wikis, and websites

are all perfect tools of effective professional and informal communication. Asynchronous

communication enables community members to interact with the most comfort and

convenience which often makes such type of communication more effective compared to

face-to-face contact. Scalability defines virtual community as a flexible environment wherein

every member individually chooses his/her course of action.

6.1 Website Marketing Strategy

After launching our website, we will provide its clients with interesting and

informative business-related reports and analysis. We will promote our messages among

focus groups including the link to the useful external resources, which will be much valued

for the interested persons.

6.2 Development Requirements

We will apply McKinsey‟s 7-S model which assumes core components (strategy,

systems, structure, staff, skills, shared values and style) that combine all aspects of

organizational performance primarily aimed at strategic development and change

management, individual growth and customer satisfaction (Waterman et al., 1980; Peters and

Waterman, 1982).

7.0 Management Summary

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Our well-arranged organizational structure, consisting of numerous hierarchically

structured divisions, will enable to equally allocate its commitments and functions, wherein

every staff member is regarded as an indispensable part of the entire operational process.

Compared to its main rivals, we will apply distinctive HRM policies enabling us to

sustain loyal employees. Namely, this particular feature will enable us to maintain

comparative advantage and withstand fierce competition.

7.1 Organizational Structure

Best Practice HR components involve careful recruitment and selection; extensive use

of communications; strong focus on training; teamwork based on flexible job design;

performance appraisal; responsibility in decision-making; adaptive and fluid organizational

structure; the use of internal practices; high employee commitment to enterprise goals; and

high-quality staff and to reach high quality performance (Guest, 1997). HRM best practices

are widely employed to achieve and maintain competitive advantage. The resource-based

approach assumes that competitive advantage cannot be achieved only owing to the HR best

practices application. In other words, HR best practices cannot be a source of sustained

competitive advantage since they are not inimitable, rare, or non-substitutable.

7.2 Management Team

We will apply TQM as a proper management strategy aimed at embedding awareness

of quality in all organizational processes. We will focus our TQM strategy on the end

customer who initially in turn is ultimately concerned about the quality of airport services. By

applying TQM approach, we will emphasize on high amount of team working. Herewith,

TQM will be applied as a team building approach. In addition to this, TQM stresses on

quality assurance, and makes decisions on facts and figures. This enables to identify

operational problems correctly and decide on proper solutions to the problems. TQM also

combines such features as cyclic thinking, continuality of the management process, stable and

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continuous improvements, which are all appropriate to teambuilding, brain storming and

decision-making (Lean Manufacturing Concepts, 2006, pp.5-7). By applying TQM, we will

maintain high quality standard in all aspects of our business.

7.3 Management Team Gaps

The successfulness of any operational project initially depends on the organizational

structure and design of loyal, reliable and responsive team. There is virtually no other aspect

of project planning that can overwhelm the importance of proper team management. Proper

assembly of the right team is the integral part of the entire process.

7.4 Personnel Plan

Our HR management will seek innovative opportunities to improve HR practices

within the company. Namely, personnel development programmes and training sessions

enable HR managers to improve individual/collective productivity, and enhance employees‟

morale. The process of leadership advancement is gradual though rewarding.

8.0 Financial Plan

Constant costs

Briefly we can name the following:

Technical support of scanners – 5000 $/per month

Technical support of fix station communications – 15 000 $/per month

Payment for municipal services – 3000 $/ per month

Salary to the personnel – 40 000 $/per month

Salary for technical personnel, who are responsible fro web site – 60 000$/month

Purchasing of the goods which are necessary for production – 20000 $/per month

Fees for leasing of the equipment in the airport – 15 000 $ /month

Promotion/advertising – 20 000 $/per month

Logistic costs – 89 000 $/per month

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Carts – 5 000 $/per month

Development costs of the web site – 7000 $/per month

Permanent costs

Creation of fix station communications at the airport – 150000$

Production of baggage carts – 120 000$

Modernization of scanners to scan luggage carts – 75 000$

Making electronic sensors – 50 000$

The first fees for the leasing of the main equipment – 58 000 $

Creation of web site – 35 000$

Salary for the period of creation of web site 65 000$

Creation of hot line 1000$

Renowation of baggage system – 100 000$

3) The payback period we can calculate as the following:

The sum of permanent costs stands – 654 000 $

The sum of constant costs stands – 279 000 $

The price for package of 3 carts – 30 $

The volume of using per first year – 15 000 000 carts. It stands 450 000 000$ .So, the

payback period can stand less than a year. The profit after this period will be more then

100%.

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