Unit 5 group project Tolap Corporation - Research Paper Example

?UNIT 5 GROUP PROJECT TOLAP CORPORATION Outline of the Business Plan The proposed business plan for Toplapp is expected to be made up of twelve broadheadings, which in totality will represent all aspects of the business inside out. By this reference is being made to the fact that the business plan should be able to identify in specifics, how the company seeks to grow and develop by use of internal resources, as well as how the company seeks to grow and develop by use of external resources (Chen and So, 2002). The expected inputs of the various components are presented below. Executive Summary This section shall be a summary of all that is contained in the plan such that top executive members, who may not have time to read the entire report, should get a fair idea of what is contained in the report and base on the executive summary to take preliminary decisions (Chen and So, 2002). Description of Business The name of the business as well as the form of ownership shall be identified under this section. The section shall also contain owners and any possible history of business. Description of Product/Service Name of products offered should be listed in clear terms as well as services that customers are to receive. Marketing Plan This is where the suggested market segment must be made known and how to development competitive advantage over this segment. Industry Each business is under a broad industry and this must be clearly stated. Toplapp is, for instance, in manufacturing industry. Customers The customers are the end users of the products and services earlier spoken about. This section should include characteristics of customers as well as why they have been targeted. Competition The company will not be the first in the named industry and so existing competitors must be mentioned with reasons that make them threatening. Advertising and Promotion The means through which the company is going to make its self-visible to the identified customers and all forms of potential customers must be spelt. The initial strategies for making the company known will fall under advertisement whiles ways of maintaining the gained image of the company will come under promotion (Breiman et al., 2009). Location Location will refer to places where the presence of the company will be seen and felt. In times past, the talk of location was all about where offices and branches will be seen through the construction of structures, but today the advent of the internet have made it quite easier to have a larger location through electronic commerce and so ways by which the company seeks to take advantage of electronic commerce will come under this section. Suppliers The company may have the option of using either internal or external suppliers. Whatever the case is however, it is necessary that these suppliers and why they are the best must be made known through the business plan. This section of the plan will therefore cater for this task whereby names of suppliers are going to be known as well as materials that they are going to supply. Management Management as used in context does not just refer to a list of the names of managers of the company but also skills and abilities possessed by the managers in carrying out their roles and the specific roles that they are going to be expected to undertake in order to bring about the achievement of goals. Financial Plan Quantum of capital injection as well as a budget of how the capital is going to be raised and used must be made clear under this section. Mission Statement The company has a mission of becoming a global leader in the manufacturing of high quality home and garden appliances that meet the requirements and specifications of customers. The company also seeks to put its self ahead of time when it comes to innovative manufacturing, which involves the manufacturing of machineries for today’s use that actually solves tomorrow’s problems. By this, the manufacturing services and products of manufacturing shall become highly relevant to the customer because apart from the fact that they will be produced according to customer specifications, they will also be created to live a step ahead of customers themselves, while identifying what customers may need for the future and making it present to them today. Commonly, it is said that quality must come at an extra cost. Because of this, companies that tout themselves as manufacturing high quality home and garden machinery have also changed higher costs for their products (Humphrey, 2001). However, as part of the mission of the company, quality shall be offered for less so that the customer will not have to be the one responsible for additional expenditure of the company. This means that the company shall offer quality to the customer as a right of the customer and not as a privilege. REFERENCE LIST Breiman, L., Friedman, J., Olshen, R., Stone, C.J. (2009). Classification and Regression Trees for Business Growth Analysis. London: Wadsworth. Chen, C. C. and So, R. W. (2002). Exchange rate variability and the riskiness of US multinational firms: evidence from the Asian financial turmoil, Journal of Multinational Financial Management, 12, 411-428. Humphrey, W. S. (2001). Managing the Company Process. New York: Addison-Wesley Publishing Company Inc. Read More