Business Plan
BUSINESS PLAN (i)
BUSINESS PLAN 1
Business Plan xxxxxxxxx MGT699 Capstone xxxxxxxxx 30 August 2020 KOUTURE TRAVEL & DESIGNS P.O BOX 0100-089000
Table of Contents
1.0 Abstract 2
2.0 Company Description/History/Background
3.0 Mission Statement
4.0 Goals and Objectives
5.0 Stakeholder Analysis
6.0 Industry Analysis
7.0 Competitor Analysis
8.0 Marketing Strategy
9.0 Organizational Success Strategies
10.0 Financials Plan
11.0 Final Remarks
12.0 Appendix
References
Abstract
Kouture Travels and Designs is an apparel manufacturing company that produces and retails the apparel through di8fferent outlets. The company is currently focusing on increasing operations of both production and marketing in the country. As such, the company needs financial support from potential funders who may be interested in the idea. This business plan will outline the company's mission, the goals and objectives of the company, and an analysis of the stakeholders.
Company Description
Kouture Travels and Designs is a company which will be dealing with the latest fashion wears for male, female, adult, and children. It is located in middle Georgia, mostly selling t-shirts to our customers. Our goal is to provide quality services to our customers. This will be achieved by since our employees are fully committed to serving customers freely, by allowing free interaction with them. We will allow our customers to bargain for the prices will not be fixed. We believe our customers are our bosses, so we will do anything for their satisfaction.
We will try to be unique in such a way that we will offer recognizable discounts to every purchase made using a certain criterion, that is, if you buy five t-shirts, you win an extra t-shirt and a chance to appear in our magazine. We will still supply customers with cards, so whenever you buy in our company and present the card, you will get points which you can use later to purchase without cash. Our company hall will consist of the Manager, cashier, and customer attendants. Customers will be allowed to go in crosscheck all the products available, choose what fits him/her well according to customer's choice, and later purchase after necessary bargaining. We will also launch an online app where customers can purchase items online, and they are delivered.
Mission Statement
Our mission as Kouture Travels and Designs is to transform and serve the society willingly by quality assurance to improve their social life and standard of living by offering quality products and services. To provide the best quality of locally produced apparel at customer-friendly prices.
Strategic goals and objectives
As initially stated, the company would love to expand its operations, including the production and marketing of the apparel produced. One of the ways this is going to happen is through the opening of more retail outlets in the country to penetrate the market. Our road to success is guided by several objectives that we aim to meet as we expand the business.
We aim to improve customer satisfaction levels from 75% to 80% before the end of this calendar year. Customer satisfaction is essential to the company because we would like to identify the number one quality apparel producer among the customers. Therefore, we will try to incorporate some of the ideas by our customers in the production, among other customer relationship management strategies, to improve on our customer satisfaction levels before the end of this calendar year.
We also aim to reduce operational costs by 15% by the next financial year. In our expansion, as a company, we ate targeting a 15% reduction in operational cost (Indeed.com, 2019). To achieve this, we have begun training our manufacturing teams on sigma six strategies. We project that we will be able to attain operational excellence with the successful implementation of the company's strategy.
Kouture Travels & Designs aims to increase stakeholder value by 10% within the next quarter. Given the strategies in place for expansion and attainment of operational excellence, we aim to expand the company's stakeholder value by 10% before the next quarter. From the increased sales and reduced operational costs, the company will increase value for its stakeholders.
The company also aims to maintain current profit margins over the next three months. Besides, we aim to balance the budget of the company before January the following year. Finally, the company aims to secure ten new clients before the end of this calendar year.
Stakeholder analysis
The business's most critical stakeholders will include the executive, the marketing and sales department, finance, product development, manufacturing, distribution, and procurement departments. The executive will be the stakeholders in the company and the management staff. These are high power high-interest parties in the company and will have to be kept satisfied (Product Plan, 2020). They have more than five years' experience in the business. The marketing and sales department will be classified under the high-power low-interest group. The product developers and manufacturing team will fall under low power, a high-interest group in the company. Finally, the distributions team will fall under the low power, low-interest group.
References
Sahlman, W. A. (1997). How to write a great business plan. Harvard business review, 75(4), 98-109.
Indeed.com (2019) Complete Guide to Setting Strategic Goals (With Examples). Retrieved from
https://www.indeed.com/career-advice/career-development/setting-strategic-goals
Product Plan (2020) Stakeholder Analysis. Retrieved from
https://www.productplan.com/glossary/stakeholder-analysis/