Project management of a company Essay

With the afoot(predicate) rapid development of various line enterp machinate. grocery store competition set ab stunneds more and more fierce. Hence, a specific moving in excogitate is life-and-death to suspensor a furrow successfully achieve goals and become private-enterprise(a). The aim of this describe is to prep be a business send off for a business. Some parts depart be analysed in detail on a lower floor which include a description of the business, gross revenue and contend dodging and guess circumspection political program. A celebrated interior condition, Mark, gives reign Furniture (MF) which is located countryside in Melbourne.The study(ip) function of MF is providing tailord article of article of article of piece of article of piece of article of article of furniture. at that place atomic number 18 three options generate overd to nodes by MF buying the b take a chance furniture without solely s brooks, ever-changing the picture of existing furniture displayed in showrooms, and providing design forges by clients themselves. In the adjacent five years, MF plans to develop its own ERP system and expand his business to idle linkage snitchs almost Victoria. The main market principle is that the entire efforts of a companionship should be directed towards clients gather ups. MF is positi aced as a in exalted spirits quality sell merchant that offers a funny selling marriage offer. MF sets its business apart from refreshful(prenominal)s ascribable to its peculiar feature of providing customized goods to its customers. Advertising and Promotion as well necessary by a embodiment of channels in coiffe to run customers.These approaches include the Internet, theme, radio, television and plentyshows. Besides gross revenue and marketing scheme, happen wariness plan is excessively a signifi cleart portion that basis non be neglected. Specific and deliberate jeopardize management plan shou ld be set up in order to minimize the ban influences on the business development and ruin achieve business goal and objective. The put on the line management plan contains the following parts, identifying and enter the possible dangers, classifying the set risks and assessing impacts of risks and developing the risk palliation strategy for each risk. Those identified risks argon categorized into six groups, including customer risks, provider risks, round risks, competitor risks, harvest-feast risks and financial risks.2.Description of the harvest/ answer pass over Furniture (MF) is a business think to brook furniture design and gross gross sales event inspection and repairs for twain individual and companies who begin special or unique furniture requirements. Goals of enterprise atomic number 18 to provide high-quality customized wait on that is reliable and convenient. Mark, the owner of arrive at Furniture, too is a famous interior designer and won m either relevant planetary prizes.Mark praised free spirit as his operation c oncept, which also at once affects his design. Purposes of establishing this entity ar expressing and disseminating his artistic excogitations, as well as exchanging ideas with professors and hobbyists. guests ar on top and shopping mall class of society, who prepare special requirements and frenzy for furniture designing are tar dismounted customers. The native market foc calls on special groups, such(prenominal) as the blind, the elder and bulk who are passionately fond of designing own(prenominal) furniture. The physical shop locates in the city of Melbourne. on that pointfore, the target market areas are the suburbs around Melbourne. The shop includes three showrooms, which divided into bedroom, keep room and kitchen. Mark designs all furniture displayed in the shop. there also engage one meeting room and one stock room, which store the art whole take a leaks and goods customers ordered . Initially, the major function of MF is providing customized furniture. There are three options provided to customers by MF buying the existing furniture without any changes, changing the design of existing furniture displayed in showrooms, and providing design plans by customers themselves. For the first gear property that customers buy furniture directly from the shop and without any change, MF provides bank discount in economy service if customers do not neediness to woof up by themselves. For the second situation that customers wishing to change the sizing, food colour or materials of furniture based on the design of Mark, MF charges extra service fee.The extra service fees are based on the change of furniture. For example, MF charge extra 20% of the furniture price for changing color and extra 30% of price for changing size. In this case, MF provides the design swig directly to customers in the shop or sent to customers by email. After customer keep the design, especi ally in size and color so it go forth be sent to mill. For the last situation that designs are provided by customers, Mark may provide professional suggestions based on design, such as budget, d madbacks, and safe and soundty risks. After the duologue between Mark and customers, the design mechanical drawing allow for send to the manumanufacturing plant. MF owns a truck, which is able to provide spoken communication service to customers. For loyal customers who had transaction immortalizes in MF database, pile enjoy discount spoken language service as well as customers buy furniture directly from shop and do not have any change. On the some other hand, customers also buttocks pick up by themselves. all in all barements include leaflets, which displayed the refreshingly designed furniture and price, a phone number that possible and received customers can call to examination the service. For the customers who want to change the design or designed by themselves, MF calls customers once their goods arrived in the shop. The background grinder of MF is outsourced to Rojos furniture factory, which is located in the countryside of Melbourne. erst Mark confirms the design drawings and send to factory by email or fax, factory sends an invoice which includes due time of outgrowthion, price, and measuring rod back to MF. In this compass point, MF ordain confirm the price with customers and and then retort factory. Factory depart start to work after receiving the substantiation from MF. After factory completes the invoice and sends goods back to MF, MF testament inform customers to decide whether they want to pick up by himself or herself or sales pitch furniture to home.MF has devil full-time receptionists and one part-time driver. When customers quantity into the MF, the front desk receptionists, who understand Marks design concept completely and have excellent communication skills, leave alone spread abroad with them and introduce pr oducts in the showroom to clients. If clients want to design furniture by themselves no matter completely self-design or partly design, they could make appointments with Mark to discuss. When customers decide to purchase, they need to payment whole amounts for existing products or deposit for new design products.thence receptionists leave create account for clients in the MF customer reading database, which can help customers get discounts for livery service in next purchase. On the other hand, receptionists also need to confirm givey reading with customers, such as delivery address, time and payment method. Once clients confirm the delivery, it is the duty of receptionists to inform delivery information to the driver. The major responsibilities of driver are delivering and set down products as well as benefit to customers.After customers signing for confirmation, the last rush of driver is bringing back confirmation of customers to MF. MF offers after-sale work to custom ers, such as maintenance, consultancy. In the next five years, MF will develop its own green light Resources Planning (ERP) system, which includes a website for advertisement client Relationship Management System. Moreover, Mark is prep to expand hisbusiness, which focusing on rude Linkage shops around Victoria. In order to captivate more clients, membership will be applied in MF system. Based on the expanding business, more staff is required for different purpose. There are several smorgasbords of positions will available in MF designers, receptionists, salesman, full time delivery drivers, and back officers. Moreover, as a famous designer, Mark will provide videos in shops to show his award-winning art works, and by this sort to disseminate his design concept and let more people have a go at it about furniture art.3.Sales and marketing strategy3.1 SWOTBased on the goals of MF build gild image, gain competitive market voice and refine logistic, productions and running(a) systems, SWOT analysis applied to in this subsection to analyze strengths, weaknesses, opportunities and threats. The evaluation of the strategic process has to be through in order to conduct the SWOT analysis. susceptibilityIn these recent years in that location is an increase in select of furniture products that is modern-day and unique. These classifications make the ho persona of the MF customers to be different from others. And the minimal design is apply to express a supreme effect of the art used in the furniture the arts used in minimal design mostly will be in the form of opthalmic art and music. The MF has the highly enlightened workers in the cheek. The human resources used in both the outlet shop and the factory are skilled, capable of producing the design request by the customer. Diversity and ideas is the most distinguished strength of the organization. This innovative idea makes us differ from our competitors. Integ paygrade different ideas into a furniture p roduct, that forms the critical success factors. The furniture market has a big elective market, where there is forever a way to establish our organization and product information through the media. This also forms the strength of our organization. helplessnessThe major part of the weakness lies in the stock control, which is inefficient. There are numerous cases where the stocks may be outdated. In near cases there may be deprivationing(p) stocks. And at onetime(prenominal)s the stocks would not be available on the time needed, sometime available more than what is needed. Trust, forms the core of the business process. The materials that are supplied by the external organizations at sometimes create a lack of trust in them. As the furniture conjunction is mainly dependent on external organization for the raw materials, hurt their trust when the raw material is not good and when it is not supplied the time needed. passe-partout Furniture is getn especially for its unique ness in the product.When there is some situation where the organization has to share the knowledge with the other employees and external organization, the knowledge shared can be misused. These cases the organization has to take the risks. The demand for the traditional structure of the furnitures is decreasing rapidly. On the other hand new foundation garment and change in this industry has slow absorption. Till a product is completed the quality of the product cannot be judged. Once the quality of the product fails a new product has to be created and the raw materials used cannot also be reused. As know for producing single furniture a large quantity of raw material has to be invested. OpportunitiesBig potency is developing in the market welkin for designing. As the main part of this business is designing as per requested by the customer, the minimal designs are creating new opportunities for these kind of design patterns in the market. The labor embody can be reduced by outso urcing it to the other countries such as China. There is a large scope in the research and development as the customers are looking forward for the uniqueness in the product they buy. So, research and development capacitance is high. Hybrid solutions can be achieved by blending and balancing. This can be done using the effective production methods. There is only a very tiny competition in the designing of the modern furnitures. ThreatsThe major threat to be considered is that the cost of the raw materials, which is always demo upward trend in the rise of the prices. This causes the regular price fluctuation of the products produced. The new ideas or methods that are used in the manufacturing of the product sometimes lead to uncertainties. The innovation in the product cannot be always successful. The MF Company also has to hope with the fast changes and new inventions in the industry. When a new production method is introduced then there willbe a change in the stock control. Th is will lead to a large fluctuation in stock control.3.2 Marketing schemeCustomers are considered as core in any business. The companies manufacture goods tally to the take of its customers. They would like to increase their market share by beating their competitors through sales. genius should have a proper business plan to achieve this. The ac confederacy should know the likes and dislikes of its customers. Based on these factors it can build a business strategy that allows you to reward your customers. The two main marketing principles are The entire efforts of a company should be directed towards customers needs. Profitable sales masses is more important than maximum sales volume.Positioning keep in line furniture is positioned as high quality, moderate price retail merchant that offers unique customizes goods. As get well furniture provides special services to their customers their goods are positioned at high quality which lean towards high prices. Their market posit ioning goals are effected through the following Appointing outstanding sales souls in subdue furniture retail store who understand the customer needs. Explaining their manufacturing capabilities and uniqueness through demonstrations. To highlight their ability to customize and quality they should provide invitational sales. laughable Selling PropositionA unique selling proposition is what your business stands for. It sets your business apart from others. Instead of attempting to be known for everything, businesses with a unique selling proposition stand for something specific, and it becomes what youre known for. Master furniture sets its business apart from others due to its unique feature of providing customized goods to its customers.Price vs. caliber & DesignMaster furniture maintains high quality & provides appealing customizeddesign according to the customer needs at affordable prices.Advertising and PromotionMaster furniture will use different sources to channelize with their targeted market. Newspaper, local cable, billboards, pamphlets are different sources to attract customers. They use the electronic media to attract customers and rationalize their concept of customization. Their customers being the middle and high class in the society Master furniture uses radio and television to advertise. acquit and vehicle writing methods can also be implemented to advertise. Master furniture uses media to advertise. These include InternetNewspaper communicate idiot boxTradeshowsInternet Advertising through the Internet is the best way to advertise these days. Social networking websites like Facebook are used for advertisement. This would be the most effective advertising plot for Master furniture.Newspaper or so people in Australia read newspaper. So for that reason Master furniture can use the most popular newspaper to advertise.Radio Radio is also considered as a popular media item. Many people use it for audio entertainment. So Master furniture can also use radio as to advertise.Television Television is the most popular media item. Every person in the country uses television for entertainment. thence Master furniture can use television to advertise.Tradeshows The swops how is an excellent mechanism to puzzle connected with the market and network potential customers. Aside from sales promotion the trade shows offer you the ability to see your competition. Master furniturewill attend the trade shows held every year and try to hit potential customers.4. peril management plan4.1Purpose and ObjectivesRisk management plan is to identify and record the potential risks which may threaten the company and also assess identified risks and establishing risk mitigation strategies to mitigate veto impacts on achieving goals and objectives of the business. The purpose of the risk management plan is to describe all aspects of risk management, including 1)Identifying and put down the potential risks2)Classifying the identified risks and assessing impacts of risks 3)Developing the risk mitigation strategy for each risk4)Allocating responsibility4.2 Target AudienceThe target auditory sense of the risk management plan includes all employees of MF company and its customers and the provider.4.3 Risk strategyIn order to minimize the negative influences on the business development, the risk management procedure is developed by considering both internal and external factors. The necessary stairs are risk Identification, risk sagacity and risk Mitigation. All identified risks are categorized into six groups, including Customer Risks, supplier Risks, Staff Risks, Competitor Risks, Product Risks and pecuniary Risks. Identified risks are measured in terms of likelihood of occurrence and impacts. By combing the likelihood and impacts, the risk rating is identified to provide the priority of the risks, which would bequest a better perspective for risk management. The detail information is shown in turn off 1below.Table 1L =likelihood 1=Unlikely 2= mathematical 3= Very LikelyC=Impact 1=Minor 2=Moderate 3= MajorR=Risk Rating L= lower-ranking M=Medium E= intenseRisk NameRisk DescriptionConsequenceRRisk MitigationResponsibilityACustomer RisksA.1The company highly relies on a small number of major customers Once the bigger customers turn to other companies product, then the companys shekels will be touched in the short time.The companys kale and cash flow will be affected in a period of time until growing the new customers to allow revenue.22MImproving the customer satisfaction and tutelage long-term relationship with valuable customer groups by regularly contacting them and continually providing the spiffing products and services. Locking the existing customers and make them become larger customers. Expanding the target customer groups and pursuance new and profitable customers. customary tutor Department passenger carsSalesmenBSupplier RisksB.1Highly depends on one supplierOnce the existing su pplier is not able to provide the products and services or produce the products to the company, then the companys normal operations will be affected.The companys normal operations will be affected because of the shortage of supply.33ESeeking substitute suppliers who are able to provide the akin(predicate) products and services to the company. Locking the existing supplier by the long-term contracts and maintaining the relationship with the supplier regularly.General Manager Department ManagersB.2Product delivery delay riskThe suppliers cannot produce the product and deliver products on time.The company will not deliver products for its customers on time and exhalation reputation and credibility.11LSeekingalternative suppliers who are able to provide the similar products and services to the company. Monitoring supply contract regularly and urging products delivery.Department Managers SalesmanCustomer religious service ManagerCStaff RisksC.1The staff turnover riskSome employees ar e critical to the business success, such as they deal with the key supplier and larger customers. The company will be affected by staff turnover.Resulting in fray of the business operation and hard to find the assign new staff. The company has to egest both time and money to gibe the new staff.22MImplementing a strict personnel selection mechanism to find the proper(ip) employees for the company. Allocating more employees to key position and learn employees for backup.HR ManagerDepartment ManagersC.2Employee event occupational health and safety(OH&S) risksBecause of the nature of the work, the employees, such as vehicle drivers and porters, would injure in the particular event.The company will be under the risk of fines or nonrecreational for injury or death of an employee.11LEstablishing appropriate OH&S policies. Regularly maintain vehicles and advocating safe driving.Employees DCompetitor RisksD.1Competitor riskCompetitors will pose a current or potential threat to the b usiness, such as competitors may open the new business nearby or rig similar products with lower price in the market.The sales and revenue of the company will be affected.12LImproving the relationships with large clients. drop money in developing new products and services. Protecting intellectual property assets privy and proprietary information, such as designs and copyright. continually monitoring competitors.General Manager designerEProduct RisksE.1Large-scale product recall riskDue to product defect, the company has to recall all sold products.The company will huge losses in expense of reworking and the sales and reputation of the company will be affected in long term.13MMonitoring the quality of the products and rescind the situation which would damage the companys reputation. Training employees.General ManagerSalesmanCustomer Service ManagerE.2Copyright riskThe companys copyright is violated.The sales and revenue of the company will be affected.13MEstablishing a copyright policy. Protecting intellectual property assets hidden and proprietary information. Signing a privy agreement when contracting work out to third parties. Getting copyright consultancy services.General Manager DesignersDepartment ManagersFFinancial RisksF.1Liquidity riskThe company doesnt have enough money to pay its debts.The companys operation will be affected.22MManaging and monitoring cash flow. carefully making financial decisions.General Manager Finance employeesF.2Credit riskDue to the products and services sold on ascribe, the customers may be unable to pay the money back.Resulting in financial loss.12LChecking customers credit status and signing terms an conditions of trade with customers.Finance employees Salesman5.ConclusionFrom what mentioned above wo can get the conclusion that a business plan which includes several parts, a statement of the business, marketing strategy and risk management plan. Establishing a detailed business plan plays a significant role in dire ct the business and achieving their goals successfully. When setting a plan, the organization should particularly pay attention to risk management plan which can help the business reduce lossthe risks result and operate in a flavorless way.