Markz Manufacturing Company was founded in 2000 with an aim of producing laptops and other computer accessories. The company has grown to be one of the bestselling laptops company for the last five years. The company has five production plants that are located in different parts of United Kingdom. Each of this production plant is headed by a unit manager who is expected to report to the chief executive and board of directors of the company.
The company wants to expand whereby it is planning to open two new production plants within the next two years. This business plan contains general information and description of the business, marketing strategies which will help the company to sell its products as it plans to venture into new markets, competitive analysis, design as well as development plan, operations including management plans and finally, the financial components, (Markz Manufacturing Company, n.a).
Markz Company is engaged in manufacturing of high quality laptops as well as computer accessories. The company has the following departments which plays different role in ensuring that the company achieves its goals and objectives; human resources department, accounting and finance department, sales and marketing departments, production department and purchases department. Each of the department is headed by a director, who overseas that departmental activities that are coordinated in all the production plants of the company. The company has five production plants which are engaged in production of different parts of laptops and computers. The company has one main production branch where all the different parts of laptops are integrated into functional laptops. Each of the company’s production plant is headed by a unit manager. The company produces laptops with different features that satisfy the needs of different users in the market. The organization engages in large scale production of laptops and computer accessories (Allen, 2011).
The company is one of the best sellers of laptops and computer accessories around the globe. In order to maintain this position the company has marketing strategies that are aimed at increasing its sales volume. The company uses pricing strategy to price its products and this has been effective in creating competitive advantage for the last five years. The company also uses sales promotions and advertisements to create awareness of its new and existing products to its existing as well as potential customers. This business will employ the same marketing strategies to sell products that will be produced from the two new production plants which will function within the next two years.
The company main competitors are Dell, Samsung, Toshiba and Acer. These are the world leading laptops manufacturers and selling companies. The company needs to come up with laptops that are customer needs oriented to enhance its position in this competitive market.
Design and Development Plan
The company plans to expand its production by opening another two production plants that aims to increase the production capacity of the company. One of the plants will be an assembling point and this will play an important role in increasing the production capacity of the company. This will enable the company to venture its new markets and meet the demands of her customers on time.
Operations and Management Plan
Each and every manufacturing plant will be headed by a supervisor in order to enhance effectiveness and efficiency of the operation unit. All the departmental heads will be expected to report directly to the unit manager who in turn will be required to report to t executive board of the company. Overall manager of the activities of the company will be the chief executive officer.
The company budget will consider all financial investments of the company. The budget will include the following components: raw material expenses, marketing budget, development budget and administration budget.
Entrepreneur Report Paper
This paper contains a report of the interview that I carried out on how to succeed as an entrepreneur. I interviewed Thomas William who is an owner of retail store. William gave me some insightful information on the qualities that one should have in order to succeed as an entrepreneur and what challenges one is likely to encounter. William runs a retail store known as Thomas and Sons retail store. The store sells green groceries of all types such as vegetables, carrots, etc.
William started the business while he was still in college. He became fond of entrepreneurship when he was second year student. He ventured into selling of groceries at small scale. First, he started selling the groceries to his fellow students. With time the business did grow and he opened the store that he is currently running. The store has been his source of livelihood for the last ten years.
William experienced many difficulties at the very beginning of his business back in college. At the beginning of his career path he did not have enough capital to run his business and it was very difficult to balance his school with business. Then his friends helped him with the initial capital and he used some personal savings.. These are the funds that he used to start his small business (Abrams, 2003).
William stated that one who wants to be an entrepreneur should be ready to face many challenges. Raising capital to expand the business is one of the major challenges that he has always been facing with. This has slowed down the growth of his business, and hindering him from achieving his goals. Stiff competition with large businesses is another challenge that he has encountered during the years he has been in business. Long work day is another challenge that entrepreneurs face very often. This usually affects their health and mental state, whereby they are overstressed which is leading to chronic diseases. Lack of management skills is another challenge that many business owners have. This weakens the growth as well as performance of their business because the resources of the business are not efficiently and effectively utilized.
William advised entrepreneurs, who are starting out their business, to be risk takers as this will enable them to face challenges and take advantages of opportunities that come on their way. They should also embrace the culture of creativity and innovativeness, because this is crucial if one is to succeed as an entrepreneur. One should also be independent minded when running the business and should be proactive in nature as this will help to plan in advance and thereby overcome probable challenges that he/she may be faced with in the future.
According to William, there are many benefits of being an entrepreneur. Independence is the first one. Compared to other forms of employment, an entrepreneur has the freedom to do what he/she believes that will help in achieving the goals of business. Being an entrepreneur also enables a person to gain status in the society. An entrepreneur enjoys the profits of the business alone in comparison to other forms of employment, whereby, one is only entitled to the salary alone.
The interview with Thomas William provided important information regarding the practice of entrepreneurship, enabling us to understand the advantages and challenges of entrepreneurship.