Business Plan Corrections for Step 1 Needed ASAP

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Business Plan

Sky Rise Sacco

3500 Piedmont Road NE Atlanta, Ga 30326

404-551-8631

January 24, 2021

Latrieva Cobb CEO Carolyn Akins COO Sharon Perrin CFO Lashun Perrin CMO

Marquita Cooper CTO

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Table of Contents

Table of Contents.................................................................................................................2 Executive Summary.............................................................................................................3 Vision/Mission Statement and Goals……………………………………………………...3

B. Goals and Objectives ..................................................................................................3 C. Keys to Success...........................................................................................................4

Company Summary .............................................................................................................5 A. Company Background ................................................................................................5 B. Resources, Facilities and Equipment ..........................................................................5 C. Marketing Methods .....................................................................................................6 D. Management and Organization...................................................................................6 E. Ownership Structure....................................................................................................6

F. Social Responsibility………………………………………………………………...7 G. Internal Analysis .........................................................................................................8

Products and/or Services......................................................................................................9 Market Assessment ..............................................................................................................9

A. External Analysis ........................................................................................................9 B. Customers..................................................................................................................10

C. Industry Analysis…………………………………………………………………...10 D. Strategic Alternatives................................................................................................11

Strategic Implementation...................................................................................................11 A. Production……………………………………………………………………..……11 B. Resource Needs…………………………………………………………………......12 C. Sourcing/Procurement Strategy……………………………………………….........12 D. Marketing Strategy……………………………………………………………........13 E. Performance Standards………………………………………………………….,…13 Financial Plan ....................................................................................................................14

A. Financial Projections....................................................................................……….14 B. Contingency Plan .................................................................................................….15

Executive summary………………………………………………………………………16

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VISION, MISSION STATEMENTS AND OBJECTIVES

A. Vision statement

A vision statement on the other hand serves to describe what a company is aims to achieve. It

serves to communicate the values of an organization and the determination that the organization

or company has towards achieving its goal for creation. The vision statement for my organization

thereby is thereby serving to describe my organizations determination towards the farmer’s

wellbeing financially. Thus, my organizations vision statement is one stop financial institution

that uplifts and empowers local farmers.

Mission statement

A mission statement is a statement that explains the reasons why a certain organization exits. A

mission statement serves to describe the purpose and the overall intention of an organization.

Since my company is focused on provision of loans to facilitate farming and serves as a saving

plan for several farmers in my area. Its mission statement is, to mobilize funds for provision of

competitive and sustainable products and services to our members through professional

management.

Objectives of my organization

The objectives of an organization explain the future goals the organization aims to achieving the

long run. The organizations employees always attain the objectives of an organization through

dedication towards the mission. The main mission for my organization is to better the lives of the

local farmers. To uplift good farming methods by the countryside. To provide its farmer

members with the best platform of saving and make finances available to them at a more

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convenient price. In addition to these, it has the objective of being the leading organization in the

sector of farming country wide and even across the borders of the country.

The organization will achieve this objective by coming up with strategies that will enable them

stand out in the market well. By this, I mean strategies that will enable it to ensure the service

delivery to the consumers is the best, always scanning the environment for potential competitors

and coming up with ways of outdoing them in the market. in addition to these it will always

embrace on its vision and mission statements.

Key factors to success

The first key to success that my organization aims at employing in its daily activities is the

employing competent employees. The organization will do this by ensuring that the employees

its employees have attained highest qualifications in the fields. In addition to checking the

qualification field, the organization will check the level of emotional stability of its employees

during the interview period.

In ensuring its success, the organization will employ good values that every employee will be

required to follow to the latter. Such values include integrity among the employees, any

individual who will show tendencies of corruption will lose their jobs. Self-respect, every

employee should be committed towards his or her line of duty. Encouraging the spirit of

teamwork among employees. Finally ensuring that there is provision of quality service to the

customers and consumers of my products.

Another key success factor that my organization will employ is always scanning the market for

potential competitors and coming up with strategies good enough to outdo them. The

organization will also employ the strategy of proper marketing, proper networking, and ensuring

that the organization performs its social responsibilities well.

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COMPANY’S SUMMARY

Company’s background

As stated, I the company’s objectives. Sky rise Sacco is a Sacco that aims at uplifting the lives

of local famers, the organization does this by employing several strategies in its line of

operations. The strategies that the organization employ range from providing loans to the young

farmers who aim to develop themselves by venturing into the lucrative business o farming. The

founders of the organization are among the most educated and elites in the countryside who had

the aim of ensuring good farming practices are put I place to ensure quality produce in the field.

This team included five professors from the most leading business schools in the country, and

other scholars from the countryside.

The main milestones that the team employed in the development of the organization is ensuring

the business was going to be profitable to them and the society, using the good marketing

strategies, ensuring that the organization hires and train good team, in addition to these was

coming up with good strategies of outdoing the competitors.

Resources facilities and equipment

In addition to being a financial institution, the organization does production and preservation of

milk and meat. The organization owns a cattle ranch, the organization also have a 20-acre dairy

farm and two processing industries for processing and ensuring good storage of the products.

The organizations stakeholders and shareholders that aim at propelling the organization towards

its objectives provided all these resources.

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Marketing methods

The annual income from interest rates is $ 300,000, from the company’s farming business is $

400 000 the organization sells 7000 units of processed milk and meat products.

The organization employs local radio stations and the internet platforms in marketing itself to the

society. In addition to these, the organization also uses the local television shows to ensure

effective marketing.

Management of the organization.

The company is currently under the management of Prof Evans Jameson, educated elite who is a

professor in the field of business management in addition to having other qualifications in the

field. The management responsibilities are divided among the members of the team in that there

are departmental managers who assist the CEO in managing the organization. The finance

department under the leadership of Sir James wright does determination of employees’ salaries.

In coming up with a strong management team the organization ensured that all of them had a

master’s degree or above in their respective fields. This gave the management team the

reputation of being highly educated and rationale individuals in the society. The key people that

enable the business run smoothly are the managers and the employees.

GENERAL MANAGER (CEO)

DEPARTMENRTAL MANAGERS

OPERATIONAL LEVEL

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Ownership structure

The primary stakeholders in my company are the tea of the educated elites who collaborated in

coming up with the Sacco. In addition to these the shareholders who have often bought the

shares of the organization who own about 40% of the organization and the rest of 60% belonging

to the business developers. The company is thus a partnership since it involved contributions

among the stakeholders who eventually came up with the organization.

When conducting inspections, the company the person conducting the investigation should have

first acquired a permit from the necessary authorities. The permit should clearly define the

reason for the inspection. The period at which the inspection will be conducted, and the

departments and the stores where the inspection will be aimed at. The document should also state

that the party conducting the inspection is responsible for paying any damages that may arise

during the period of inspection.

Social responsibility

The company follows the regulations as stated in the business laws act of being socially

responsible in the Ares it is operating. The company ensures that it disposes it wastes in the

correct method thus not affecting the individuals residing within the company’s area of

operation. The company has also installed soundproof equipment in its processing industries to

ensure there is no noise pollution. In handling chemicals, the organization has a restricted area

for such practices, and it has worked to ensure that all its employees have protective clothing to

prevent them from being exposed to the chemicals at hand. The time of organizations operation

is from 8:00 am in the morning to 5:00 pm in the evening.

The management and the employees have played a great role in community organizations. Such

roles include forming some organizations aimed at benefiting the community. They have also

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attended and contributed towards community projects and the ideas of the community youth. The

organization performs training and development to employees at all levels. The most crucial

being the new employees. The organizations perform the skills and safety training to any new

employee that is admitted to the organization to ensure that they are well verse with the proper

safety measures and be aware of how to use several organizations equipment.

Internal analysis

The current strengths of my organization are that it is the leading producer of quality milk

products; thus, it has a large market share as compared to its competitors. Another strength is that

the organization has excellent customer services, and this has made many people to bank with

the institution. In addition to these, the organization has the advantage of economies of scale at

its operations, and it has employees who employ high levels of integrity. The main weaknesses

that the organization has showed is the confusing policies it has, in addition to these the

organization does not involve all levels in making decisions concerning the operations and the

top level of management id always held responsible for making such decisions.

In making sure that my company does better, the management team always performs an

environment analysis. They look at the economic condition of the country and come up strategies

that will enable the company to perform well under such conditions. They look at the potential

competitors and their strengths and weaknesses. The organization also conducts employee

training to ensure that they become better in their field. The areas I aim to build on are increasing

the organization resources, improving on the organizations culture, and opening branches in

different locations to enable my organization to grow.

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Currently there is no enterprise that should be excited. Since all of them have proofed to be

profitable to the organization. The enterprise of meat and milk production proving to be the most

profitable in the field. Thus, I would just invest more of my resources towards building the

enterprise of production since it shows a good promise.

Products and services

The organization provides a variety of products and services. In the field of products, the

organization mainly deal with meat and dairy products. The organization meat is mainly beef,

produced from the cattle ranch that the organization has. The cattle ranch has over 20,000 cows,

which are taken care by individuals employed by the organization. Enabling the organization to

have a consistent flow of meat thus always satisfying their customer needs. After the cows have

been slaughtered, the meat is transported to the processing industry where they are checked by

healthcare individuals and then processed then packaged in various packet sizes to enable

consumers of various income segments to afford the products. The same process occurs for milk,

the only difference is that during processing some of the milk is processed to yoghurt some sold

as fresh milk from the farm, some get processed to cheese this process enables the company to

serve various market segments and enables it to satisfy its consumers well.

The services the company provides are mainly saving schemes and the loans they provide to the

farmers. The saving schemes enables the farmers to enable the farmers to save the little amount

they have acquired from farming. As the savings of the farmer grows the loan limits of the

person also grows. The loans are provided to the farmers to enable them to grow their farms or

develop new projects from scratch. These loans and savings schemes have served to enable

farmers gain financial stability and grow their lives well financially. In addition to these services,

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the organization offers sponsorship opportunities to the children of their various members to

study in the field of agriculture and business.

MARKET ASSESSMENT

External analysis

The main external factors that I consider in conducting my external analysis are the competitors,

the supply chain of the organization, market demographics, economic trends and the general

industry. Conducting this analysis is important to the organization since it encourages its growth

and helps it in forecasting and adapting to change.

In the supply chain, the organization plays this role by itself through the dairy farm and the ranch

thus the organization do not depend on any suppliers. The organization currently has very less

competitors and has a higher competitive advantage as compared to the competitors. The

organization serves a population of more than a million individuals I the country and in the

industry the organization is the leading company.

Customers

The organization serves two categories of individuals. The farmers by enabling them save with

the organization. The farmers thus are the first category of the customers the organization serve.

In addition to the saving schemes, it also enables farmers to borrow loans to enable them to

develop themselves through various projects.

The organization also serves the normal citizens as their customers for the beef and dairy

products. The organization has proved to satisfy its customers by the production of quality

products.

Industry analysis

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I will perform regular industry analysis to enable my company to understand the competitive

dynamics in the industry. I will be able to learn about the demand supply statistics, the degree of

competition in the industry. In addition, the state of the competition in the industry my

organization is serving. Moreover, I will learn about the future technological changes and the

external factors influence in the industry.

Performing this analysis will enable my company to come up with strategies good enough to deal

with their competitors. In addition to these, it will enable my company to get a pool of resources

good enough to deal with the forecasted changes in the external environment thus enabling it

stand out in the industry. This is because my organization will be fully aware of the threats

coming. This it will come up with solutions early enough enabling it not to be caught offside.

Strategic alternatives

After performing the industry analysis, it will enable my company with come up with strategic

alternatives which are a set of strategies that a company develops in deploying its resources

towards a certain direction to ensure that the goals and objectives of an organization are

achieved.

The strategic alternatives that I will employ in my company is diversification. I will encourage

the management to diversify and move to production of goods and services in other fields so that

it may be able to deal with any unforeseen changes in the economy and to effectively deal with

the growing number of competitors. Another strategic alternative will be to maintain stability in

my organization. This will be done by ensuring that every activity is aimed at making profits.

This is possible if all the revenues are higher than the expenditure in an organization. The

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organization will do this by cutting down its operational cost and employing strategies that will

ensure progressive earning.

STRATEGIC IMPLEMENTATION

Production

In production, I will implement the strategies that will enable the organization to cut down the

costs of production and increase the rate of annual income in terms of profits. In doing so I will

communicate the plans; I have to all the members of the organization to employees. Effective

communication will enable the organization to achieve its goals effectively.

I will ensure that the products in terms of dairy and beef products that my company is producing

are of high quality. This will enable them to sell at high prices and ensure that there is good

customer satisfaction. Thus, the production process should be good enough to enable sky rise to

achieve its goals.

Resource needs

In terms of human resources, the skills that my organization will require is the qualified

employees in the areas of IT, accounting, and other expertise who will be running the production

processes in the companies processing plant. The company requires a lot of finances for it to

start. The finances that I have projected that the organization will require to start and run

smoothly amount to $ 700,000. In addition to these the company will also require the physical

resources which have already been availed by the major stakeholders and shareholders.

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In addition to these resource requirements, I also anticipate employing modern technology to

enable me to produce quality products. Moreover, fasten the process of production enabling my

organization to achieve its goals and objectives.

Sourcing or procurement strategy

This strategy is mainly for the goods that I depend on the suppliers to supply me with. Thus, the

goods and services that my company is not able to produce for itself. In my case the ingredients

used in the Sacco’s processing plant to make the dairy and the beef products. I am going to look

for a reliable supplier from the internet in addition to employing the local dealers. This will

enable my organization to have constant supply of the materials it needs. By doing so I will have

also reduced the suppliers bargaining power.

The strategy will enable me to outdo my competitors in the market thus is very crucial. This is

because the impression I make to the suppliers will determine the quality of supply the bring me.

I will therefore offer to pay thus supplier more amount of cash than what my competitors might

have at hand. Moreover, I will ensure that the supplier is paid the full amount at the right time

they make their supply. This will enable me to gain the loyalty of the supplier.

Market strategy

After understanding the consumer behavior, by knowing how they make their purchase decisions

depending on their believes and perceptions of brands in the market.

The market strategy that I am going to employ to win the hearts of the consumer are ensuring

that the services and products that my company offers are of high quality. Conducting

continuous marketing in the market to enable many consumers to learn the benefits of joining the

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Sacco. Offering consumer loyalty cards to loyal customers such cards will work to enable them

buy goods at more subsidized prices.

Performance standards

The organization will perform under the standards set by the national government. The

organization will ensure it follows all the rules set on Sacco’s and comparatives. The

organization will also ensure it performs its social responsibility by working towards reducing

the level of environmental pollution. In terms of air pollution waste pollution and noise pollution.

In addition to these, the products of the organization will always be checked and certified by the

public health individuals.

The yield and output levels I intend to attain on yearly basis is producing 700 units of both dairy

and beef products. I intend to produce goods until I attain the economies of scale efficiency level

this will enable me to lower the production costs a lot thus increase the profits earned. In

monitoring the performance in my organization will include regular meetings and appraisals of

employees. The parties responsible for monitoring the performance are the mangers in the

organization. The benchmarks that will be used in monitoring the performance will include

monitoring of investments, monitoring adoption of technology and the health of the financial

situation of the organization.

FINANCIAL PLANS

Financial projections

In funding the business, I will acquire some funds from the main shareholders of the

organization. In addition to these, I will take some loans from other financial institutions. I intend

to have low levs of debt and higher levels of equity in the organization. I will provide for the

debt capital funds through the profits I will be earning in the progressive years of trading. In

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managing the financial risks of my organization, I will insure the organization in the most stable

insurance agencies in the country. In addition to these, I will diversify my investments. I will

have my accountants keep a record of the company’s financial state from the debts the

organization has to the profits the organization makes.

The general assumptions that I undertook in making these projections in terms of external

sources is that the economy of the country is stable and there is a prevailing good legal political

environment the internal factors is that the organization has the application of modern

technology in its production processes. The level of performance that I intend my organization to

attain is a level where it will employ the concept of economies of scale in its production. The

yield and output levels I intend to attain on yearly basis is producing 700 units of both dairy and

beef products.

Contingency plan

A contingency plan is a plan that will be implemented incase everything in the company goes

sideways. The contingency plan in my company is to keep a surplus pool of funds in terms of

reserves in the federal bank reserve. The reserve will serve as a lifesaver for the Sacco if the

Sacco suffers drastic losses due to unforeseen circumstances in the external business

environment.

Another contingency plan for my company is to employ the aspect of harvesting strategy. This

implies that if the management forecasts a downfall in the business operations soon, they harvest

as much as they can from the resources they would have employed. In addition to these, the

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Sacco may opt to declaring bankruptcy when it realizes that it is making extreme losses. This

will make the organization debtors have no grounds to ask for their debts since the organization

will be bankrupt and will have no money to offer anyone.

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Executive Summary

A. Vision/Mission Statement The vision and mission statements that are meant to guide the organizations by making it goal

oriented are. One stop financial institution that uplifts and empowers local farmers, and, to

mobilize funds for provision of competitive and sustainable products and services to our

members through professional management.

B. Company Summary

The company is under the management by the CEO who oversees all the activities that take place

in the organization. Below the CEO are the departmental managers who are responsible for

overseeing the activities that take place in their various departments and later report to the CEO.

Below them ere the operational mangers and lastly the employees of the organization who

oversee performing the day-to-day operations of the organization under the leadership of the

Mangers.

C. Products/Services

The products that my company will specialize in producing and selling include the main dairy

products and beef produces. The products are unique in that the method I will employ in

producing them will involve the use of a secret formula that will not be known by my

competitors thus giving me a better competitive advantage. In the production process, my

company always ensure that it produces products of high quality and distribute them to various

locations in the country. The company has an experience of over 5 years in dealing with

production of these products.

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In terms of services, my company offers banking services to its member customers, such services

include the ability to save with the Sacco, and the ability to borrow loans from the Sacco. The

borrowing limit of an individual grows progressively as he continues saving with the

organization.

D Market Assessment

People of different age groups and different income levels characterize the market. The market

segment that will serve to be my target market are the people within the age bracket of 10 years

to 30 years. This segment proved to be the greatest consumer of dairy products. The main threats

that my firm face currently is the emergence of competitors.in addition to the threats the firm has

great opportunities of expanding and growing through diversification.

E Strategic Implementation

In strategic implementation, the company will employ the most effective methods of production

that will aim at cutting the cost of production and increasing the amount of profits the

organization is going to achieve. The resources that the company need in terms of human

resource are the skills of accounting. In terms of finance the company needs $700,000 to

effectively run, in addition it will need more physical resources to employ in its production

process.

F. Expected Outcomes

The expected outcomes if the business plan becomes successfully implemented is for the

business to grow, expand, and gradually achieve its goals of being a bigger organization. It is

also expected that the products the company will produce to be of high quality and satisfy

consumers thus earning itself respect and loyalty by the consumers.