Business Strategy: Individual Business Plan sys: Ursula sonatas A915885 Contents 1. Personal Development 2. Team working aspects 3. Response to feedback 4. Personal ideas for the business plan Personal development My main role in the team was the Production/Sourcing part. Thinking of costs to set up production, consider issues associated with production and method of production (in house/outsourced), supply considerations. The first step I did was find out how the seat belt is manufactured and what sort of tools were required.
This is where I saw a it of an issue, the manufacturing is not complex but requires a fair amount of tools and machinery on a factory floor which our company would not be able to afford with the OHIO,OHO initial investment. Furthermore, safety testing of each settable system needs to be assessed after the settable has been manufactured, and this requires more machinery. Hence, the first decision made that the settable manufacturing has to be made by another company. This would not be a problem once the patent is secured.
After realizing that manufacturing will be completed by a contract manufacturer, I needed to make sure the contract cost and the logistics costs to be kept to a minimum. This merman being competitive on all the freight pricing. Team working aspects The team was easily organized and everything Just fitted in place. There were five aspects to focus on in the Final Group Business Plan and there were five team members. Each team member chose his part and there was no quarrel over any particular area.
Regular meetings were held to decide on general decisions about our business plan, where the business plan is headed and the next steps to be employed. Once each team member chose their individual section and the team agreed then each team member went and carried out his own research and then reported back to the team in written format and verbally during the next team meeting. The team made decisions together. When one group member proposed to implement an idea, the team discussed it and either agreed on it or changed it slightly and used it or discarded it after some thought.
Presentation Feedback At the end of the presentation the help full feedback from Mr.. Grover, “As this is a reduce focused on vehicle safety, it may be more wise to approach a manufacturer that is renowned worldwide for safety, in this case Volvo. ” I found this to be to be more helpful than some other team mates, because I clearly saw the way to market and advertise this product. For it is primarily a safety device, to be more precise an improved safety device used in every car for the last 50 years.
This is why it was more belt is to be introduced into the market it would make much more sense if it was in a Volvo. It would be more noticeable and people would trust it because it is in a Volvo. Potential Risks and Changes in the General Business Climate First of all, the biggest risk of them all, is if the manufacturer accepts this seat belt and wants to put it in their cars. If it rejects the idea then the business plan has failed. Some other risks: * keeping manufacturing costs low/competitive with the contract * maintaining manufacturing deals with Uk manufacturer, then with Chinese manufacturer. Container freight costs may rise, so signing a contract/annum for a fixed freight would be a solution. Apart from keeping to the main idea of the name’s business plan outlines below, there are some other parts I would like to add to the business plan which I had did not have the opportunity previously. The first step of the business following planning, design and securing an investment will be to acquire a patent as discussed above. The business shall Penn on the granting of a patent, as success is dependent on the ownership of a patent.
This will avoid large debt in the event that the business cannot go ahead, and in this case the investment can be returned. Therefore, year 1 shall refer to the first year after securing a patent and the plan is resumed. . A prototype will then be manufactured from the current design to be crash tested in assessment of its quality of safety. This can be compared to a standard three-point belt for reference, aiding marketing. Ergonomic testing shall also be performed by survey of ease of use and comfort. . Modifications to design or manufacture may follow, depending on the performance of the SHIP belt in both tests, a feedback loop forming until satisfactory results are achieved. 4. Vehicle manufacturers can then be approached using the prototype as a finalized design for first application. A interact for exclusive use of the belt shall be striver for in an upcoming model or range, providing a unique selling point for the manufacturer and a test market for the belt. 5.
Advisors from the SHIP Company shall liaise with design engineers during the vehicle model/range design phases to integrate the belt into the design ensuring maximum comfort, safety and aesthetic qualities. 6. After proving itself in a small test market, the company can expand into more vehicle ranges through the same, or new, vehicle manufacturers depending on contracts, and therefore permeating the mass racket of road cars. Exponential expansion can easily be achieved due to the competitive nature of the road vehicle industry and the international status of manufacturers to be approached.
If successful, the belt will not only be desirable for manufacturers, but essential to maintain market share due to the significant importance of road safety at this time. Single-Handed- 4-Point Seat Belt (SHIP) will be a new player in the United Kingdom for automotive safety equipment. The company is composed of five automotive engineers that will strive to design quality products or the automotive sector. The company plans to gain market penetration and establish themselves as leaders in innovation and automotive safety .
Lugubrious Innovation in Automotive Safety Company (ALIAS) is a corporation located in Lugubrious, Lectureship, I-J, Whose products are manufactured in China. Products ALIAS will have its first product the SHIP seat belt launched after six months and will be available for order after one year. Market ALIAS will be able to supply one of the world’s biggest industries: the automotive industry with a innovative product that will be miming to be in every single car produced after two decades.
Management Team The management team consists of five soon- to-graduate automotive engineers who design products that are needed in the automotive industry. Fully dedicating themselves to the company and to their products. ALIAS are forecasted to produce their first batch of orders after year one, and by year five to make robust profits once the numbers of Objectives Provide consulting services to automotive manufacturers regarding installation of the seat belt. Develop and manufacture new automotive safety products and create brad wariness * force throughout I-J and Europe * Develop and expand a sales Develop products that will attract our buyers and sell to customers * Develop solid links with logistic companies for constant freight costs to maximize our profit margin Mission ALIAS is focused on fulfilling the need in filling the gap in specialized safety automotive equipment.
This is a market we have identified based on our engineering viewpoint, and we think some innovation is lacking in this sector. ALIAS will be able to adapt their product line up to variety safety applications not Just family vehicles. Our mission is to: * Focus our product lines to be the all included in the top vehicle manufacturers worldwide. * creating great safety products.
Focus on innovation and keep Keys to Success Seek out feedback from our customers to develop better products that meet their ergonomic and safety requirements. 2. Maximize profits by manufacturing in China 3. Maintain low overhead costs by monitoring and scheduling production 4. Implement a successful marketing campaign to inform the existing customers and the public of our new image 5. Image and brand equity through marketing. Build brand