BUS 516 - Assignments for 18 November

• Briefly describe your plan for executing your business plan after you receive the resources.
• Describe your venture’s plans to act as an adaptive organization.
• What mechanisms will you use to instill ethical behavior in your venture?
• Describe the key business processes used by your venture.
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·         The execution of a business plan is critical to the success of a company. The team knows what needs to be done. The next step is to agree on how it is going to happen. The team sets short-term goals and priorities, and then assigns tasks to individuals. Rewards and recognition are linked to on-time performance. Missing deadlines is costly. Good execution is based on clear priorities, good assumptions, and constantly monitored performance.    
·         In order for my company to act as an adaptive organization it needs to be a learning organization which captures, generates, shares, and acts on knowledge by revising its strategy as new knowledge becomes available; that changes its strategy or business model as the conditions of the marketplace require.

   
·         One of the methods to instill ethical behavior is to let everyone in the company know a common moral rule: do no lie. Ethics are a set of moral principles for good human behavior. Ethics provides the rules for conducting activities in a manner acceptable to society. Good ethics and self-interest usually coincide, since we want to develop and maintain a high reputation. A corporate model of integrity is based on ethical principles embedded in the corporate culture so that all stakeholders can conduct business to attain mutual benefits. A firm’s integrity cannot be sacrificed to short-term gain.
·         Key business processes used by my venture will be common business processes as below: 
      

       

BUS 516 - Assignments for 14 November

Add the following as entries to your blog

• Describe the customer and the target segment you have identified.
• Develop a positioning statement using the template in Figure 11.4.
• How will your venture sell its product and develop customer relationships?

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·         Customer and target segment

This is an internet business, starts with domestic US female customers from baby girls to senior women.

·         Positioning statement using the template in Figure 11.4.

-      For all female customers

-      Who would like to shop at the comfort of your house to get great products and price

-      iShoppings.com is the solution

-      that constantly provides distinctive fashion and products at affordable price with a click on your mouse

                        

·         How will your venture sell its product and develop customer relationships?

iShoppings.com carries/affiliates good quality and brand name products for example Coach, Juicy Couture, Gucci and etc., when customers search for these products they will go to iShoppings.com website. Online advertising is displacing newspaper and magazines.

For the customer relationship to be fruitful, the attraction of the customer, the conversion or sale of the customer, and the customer retention process must all be managed well; customer relationship management (CRM) system is used. CRM when properly constructed, I can gather customer data quickly, identify valuable customers, and increase loyalty by providing excellent service.

BUS 516 - Do survey

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BUS 516 Week 5 Assignment - Business Plan Outline

—  Business Plan Outline

¡  Opportunity and Product need to be described in detail

¡  Bullet Points/short paragraphs for all other sections

—  Resources

¡  http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

¡  http://blog.guykawasaki.com/2006/01/the_zen_of_busi.html#axzz11sFU57l7

¡  http://www.garage.com/

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E-commerce Internet Business Plan Outline:

1.       Executive Summary

1.1   Opportunity

Using the internet to bring woman’s products and fashions from New York to everywhere in the United States. Statistics shows that 85% of all brand purchases are made by women. Women make the household purchases in 80% of homes. More and more people shop online than going to the stores; internet shopping is convenient.

1.2   Mission

To build an online place where people can come to find and buy distinctive fashion and products to women from baby girls to senior women.

1.3   Keys to Success

¡  Accessible website that is entertaining to surf. Like a trip to your favorite store where you always find something new that you want.

¡  Excellent vendor relationship that will facilitate quick shipment of orders.

¡  Create store image that our target customer sees as both attractive and trendy.

2.       Company Summary

2.1   Company Ownership

Joyce and Frank are the co-owners.

2.2   Start-up Summary

The start-up costs consist of creating a promotion campaign and establishing its website. The business is funding startup with owner investments.

3.       Product

We will offer the following products: Apparel, shoes, handbags & Accessories, beauty and fragrance, bed and bath, jewelry and watches, eyewear. What women want are also power tools, dishwashers, digital cameras, automobiles and houses.

4.       Market Analysis

The internet is an accessible tool for our target population. Online shopping is expected to increase year by year. Women’s wear leading the global demand – trends in apparel and accessary sector changes frequently with change in lifestyle and spending capacity.

5.       Strategy and Implementation

5.1   Sales Strategy

Sales will be flat for the first 2 months of operation. We anticipate that sales will begin at this point and increase as our marketing campaign progresses.

5.2   Sales Forecast

It is expected to be 5% increase yearly.

6.       Management Team

6.1   Personnel Plan

¡  Operation manager

¡  Buyer/marketing

¡  Order processing/website manager

¡  Processing staff

Initially Frank and Joyce will perform all the above roles when the business just gets started. Gradually add staff whenever the business is needed.

7.       Financial Analysis

7.1   Break-even Analysis

7.2   Projected Profit and Loss

7.3   Projected Cash Flow

7.4   Projected Balance Sheet

BUS 516 - Week 3 Assignments

Assignments for 9 October

• What is your mantra?
• What is your business model?
• What is your competitive advantage?
• Complete your SWOT Analysis
• What is your strategy?

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·         Mantra – ‘Life is Good’

·         Business Model

Start a business by using internet technologies to do marketing of products of companies.

The following is a list of elements of the business model:

Customer Selection	Consumer
Value Proposition	Product Accessibility
Differentiation and Control	Wide scope of products
Scope of Product and Activities	Very broad
Organizational Design	Low, flexible and control costs
Value Capture for Profit	Wide range of products
Value for Talent	Learn, grow and prosper

·         Competitive Advantage

Product selection

·         SWOT Analysis – Strengths, weaknesses, opportunities and threats

 

SWOT analysis: the creation of internet marketing company to market products of companies
Strengths ·         Right products, quality and reliability ·         Direct delivery capability ·         Product innovations ongoing ·         Have customer lists ·         Can serve from existing site ·         Products have required accreditations	Weaknesses ·         Customer lists not tested ·         No pilot or trial done yet ·         Customer service staff need training ·         Don’t have detailed plan yet ·         No direct marketing experience ·         We would be a small player
Opportunities ·         Could develop new products ·         Profit margins will be good ·         Could extend to overseas ·         New specialist applications ·         Could surprise competitors	Threats ·         Existing core business distribution risk ·         Vulnerable to reactive attack by major competitors ·         Legislation could impact ·         Possible negative publicity

·         Strategy

Four common types of strategies are differentiation, cost, combined differentiation and cost, and niche.

My business will distinguish itself from the competitors by using the combined differentiation and cost strategy.