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Financial Plan - Case Study Example

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Financial Plan

The following three partners and their responsibilities are -
CEO - Miss Josefa Calfoforo; responsibility includes:
Managing customer database
Contacting and dealing with client
Financial aspect of the business, such as: budgets, profit & loss statement etc.
Finalizes fix cost
Co-operate with Chief Sales Executive and Chief Designer
Chief Sales Executive - Miss Elizabeth Carter; responsibility includes:
Generating sales through marketing and sales campaign
In charge of orders
Public Relation
Chief Designer - Miss Yu-Een Eav; responsibility includes:
Programming website
Designing of diaries
Source materials from suppliers
Manufacturer
Updating technology

Also, two employees are to be inducted for the day to day operations of the business in the first year.
Performance Monitoring of Plan
edesignerdiary will measure performance by looking at number of units (diary) sold in a month.
edesignerdiary will measure the satisfaction of the e-commerce business operation by conducting online surveys after each purchase.
edesignerdiary will measure quality of diary against competitors every 6months.
Critical Success factors
Offer a clear description of the goods on offer
Provide a total price for the goods (including any taxes payable and freight cost)
Have a refund and return policy
Clearly explain how privacy issues will be handled
Customers acceptance of privacy issues
Have reliability, trust or privacy seals
Have clear delivery dates
Customers who make a purchase from another electronic site or mail house do so without physically, seeing or touching the product they are buying. Therefore customers will be more likely to purchase items from electronic retailers who adopt these critical success factors as a minimum.

Time required for raising...
A total of $30,000 is personal investment. According to the Rate if Return on Owners Investment Ratio each partner will individually receive 3.59% return in 2006, 2.44% return in 2007 and 8.64% in 2008.
Finance options which the partners have already decided to adopt is the government grant for small business and the Export Market Development Grant. Combined the business will be able to receive finances of up to $15,000
Customers who make a purchase from another electronic site or mail house do so without physically, seeing or touching the product they are buying. Therefore customers will be more likely to purchase items from electronic retailers who adopt these critical success factors as a minimum.
Establishing and operating edesignerdiary is a great personal and financial investment however, accidents and problems do arise; these can be minimized by taking out insurance. The business has decided to get insurance through Allianz as they are able to tailor the insurance policy to meet business requirements.
edesignerdiary differentiates its custom diary making through strategic edge such as gathering information from the individual to compose a custom made diary that contains special features selected by the individual. Hence it is a hand made diary that is of high quality produced in Melbourne - Australia.
Edesignerdiary will win by having a unique ...Show more

Summary

Finance for edesignerdiary is being organized in a systematic, orderly manner after meticulously organizing the end-product, sales projection, marketing strategy and the company's vision, mission and guiding principles.
The sales strategy of edesignerdiary is different from its competitors since it is not a high-volume product…
Author : nienowbrianne
Financial Plan Case Study essay example
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