Developing New Products and Forecasting Market Potential for Original Creations

This report discusses the challenges faced by Original Creations in developing new products and forecasting market potential. It covers the departments involved, key issues, and recommendations for improving performance. The report suggests conducting market surveys and research, utilizing product development strategies, and improving communication and innovation skills. The report also highlights the importance of in-house production and reducing outsourcing dependence.

Foundation of business
management

Contents
Executive summary:........................................................................................................................3
INTRODUCTION...........................................................................................................................4
TASK...............................................................................................................................................4
How this Original Creations can better develop new products and better assess and forecast
their market potential...................................................................................................................4
Departments of Original Creations and their roles in developing new products and improving
business sales...............................................................................................................................6
Reasons........................................................................................................................................7
Key issues....................................................................................................................................8
Recommendations........................................................................................................................9
CONCLUSION..............................................................................................................................11
Reflection.......................................................................................................................................11
REFERENCES..............................................................................................................................12

Executive summary -
Business management is defined as the process that is related to organising and coordinating
business activities to attain determined goals and objectives in best possible manner. Original
creations are the organisation that is taken into considerations. The key purpose of the study is to
critically understand the different issues being faced by the Original creations in regard to the
high product returns. From this report, it is found that In-house production is the best solution
that help business to reduce cost as well as chances of failure. This report covers various reasons,
issues and recommendations to Original creations for improving performance.

INTRODUCTION
Business management is known to the method which is linked to the organising the practices of
the business as well as coordinating the activities in the effective as well as efficient way. In
addition to this leader or manager of the business functions several obligation and duties in order
to accomplish the long term objectives as well as goals of the business in a given period of time
which can assist the organization in their long term sustainability and success in the market. In
the existing scenario of the competitive environment of business it is crucial for the commercial
business in order to maintain all the practices in the structured as well as systematic ways so that
management can function more effectively and efficiently (Balaban, and et.al., 2022). The
following report is based on the organization or regional creation which focus on dealing with
hair Clippers, exfoliate scrub, blood pressure machines and several other goods. In addition to
this commercial business has several of the manufacturer in the international market as well as in
United Kingdom. The following report will cover about several challenges that are encountered
by the respective business in respect to making the suitable goods and anticipating the demand of
the product. The several particular reasons of the business will also cover about in this report and
together with this several recommendation for the business in order to make suitable adjustments
and modification in the operations of business in order to develop new and anticipate new
potential market area is also described in this report
TASK
How this Original Creations can better develop new products and better assess and forecast their
market potential
Management of original creation is not included in marketing as well as developing its
services or goods in the market area because the business basically outsources practices of
manufacturing of its vital goods to several different businesses. This also increases the
potentiality of the business and has the very crucial part in fulfilling the requirements and
demands of the consumer base in the market area. In the process of making the new goods and
anticipating the potentiality of the market commercial business requires to focus on several
methods which are described below in brief (Daulay, and et.al., 2022) -
 Market survey - Survey of the market is known as the most crucial method and strategy
which provide assistance to the respective organization original creation in order to gain

major data as well as information in respect to the existing trend of the market as well as
requirements and demand of the consumers in the market area. In addition to this every of
these data and information provide assistance to the commercial business in order to
make suitable alteration in accordance to target various of the consumer base in the
market area in an effective as well as efficient way. In relation to the original creation
management utilizes the data of the market in its making of strategy and also for planning
of the new merchandise development and this is also crucial for the business in order to
focus on doing in depth research on the market area by taking market survey by several
questionnaire which assist the business in order to accomplish relevant data and
information. This also increases the potentiality of the business in order to choose
appropriate market area which offers major sustainability and growth opportunities to the
business for the long period of time in the market area (Dreher, and Ernst, 2022).
 Market research - This is known to be one of the most effective and efficient method in
accordance to gain relevant and reliable data and information on a specific period of time
that provide support to the commercial business in order to make new good in according
to the requirements and preferences of the consumer base in the market area. In addition
to this it is also crucial for the management of the respective organization original
creation in order to conduct both primary as well as secondary research as it offers the
business data and information which is first and secondary that supported to manufacturer
effective and efficient goods which is beneficial in satisfying the requirements and
demands of the consumer base in the market area. By utilizing information and data in
the business management can maintain its vital functions effectively and efficiently
which will assist them in giving the edge over their competitors.
 Product development strategies - Management of respective organization original
creation utilizes several development of product strategy and techniques in order to make
appropriate and better goods which will meet all the requirements and demands of the
consumer in the market area (Dunleavy, 2022). Management of respective business
requires to take several crucial decisions in respect to the control on cost and investment
instead of maintaining the growth project practices in the effective and efficient way that
supports the commercial business in order to develop new services and products in

accordance to the requirements and demands of the consumer which will assist the
business in order to attains success and sustainability in the market area.
Departments of Original Creations and their roles in developing new products and improving
business sales
There are several division that are functioning in the business in order to accomplish the long
term goals as well as objective of business in an effective and efficient way. In addition to this
management of original creation strengthen the functioning of the division that are linked to the
making of new goods and services and few of the division of the business and their obligations
otherwise duties are described below in brief -
 Operations management department - Operational management division has the very
crucial part in maintaining the operations of the business of all the divisions of the
organization that are linked to making and developing the new services and goods.
Leaders and managers of the respective organization make sure that every of the practices
and the function are done on a given period of time with more effectiveness and
efficiency (Fundamentals, 2022). Moreover to this division of operation is organised for
making and converting the raw material as well as efforts of the workers in to the finished
goods and services which have worth in the eyes of the consumers. This also make sure
that quality of the raw material is utilised in the manufacture need to be better so that
quality of the final goods will be more appropriate and better.
 Manufacturing department - The manufacturing division of the business is organised
with producing new goods and services in the structure as well as systematic way. Staff
and workers of this department is very crucial part in making of the good with more
efficiency and effectiveness. In relation to the manager or leader of the respective
organization original creation management concentrate on the vital parameters in order to
make sure if actual production of goods and services harden and it is fulfilling and
satisfying every of the requirement in demand of the consumer base of the business in the
market area (Hani, 2022). Management of the respective organization create different
unit for manufacturing which is linked to functioning particular functions of the
production.
 Human resource management - Department of human resources known to be one of the
crucial division of the business which maintains as well as manage every of the function

and practices that are linked to the betterment of the worker which will lead to higher
productivity and performance of the business as well this division is obliged for leading
functions of the workers inappropriate direction and encourages the employees in order to
function the work with more motivation that will lead to the achievement of the goals and
objectives of the business in the effective and efficient way. In context to managers or
leaders of the human resource management department of the original creation business
that is organised for managing and maintaining supportive and healthy workplace which
motivates the workers in order to contribute in accomplishing the goals and objectives of
business for long period of time. Managers offer appropriate development training to
workers which supports them to make goods in systematic way (Hanyu, and et.al.,
2022).
Reasons
There are several reasons for the engagement of the business in development of a new product
method that provide assistance to the respective organization in order to accomplish long term
effective and efficient results . In context to the original creation management have lack of
innovation and creativity skills in the entire idea generation and innovation of the production in
house. These reasons are described below in brief.
Ineffective market research - Management of the respective organization or originally
creation do not focus in conducting effectual and in depth research of the market in a appropriate
way which influence the understanding of the business that is linked to the requirements as well
as preferences of the consumer base in the market area. In a existing competitive environment of
the business this is very crucial for the business in order to conduct effectual as well as in depth
research of the market which supports the management of the respective organization in
accordance to evaluate the requirements of the consumer rather than offering them the goods in
accordance to retaining them for long period of time (Landika, Uremović, and Sredojević,
2022).
Inexperienced staff members - In context to original creation management have staff
which have low experienced and specialty that influence the productivity and developing of the
new goods and services negatively. In addition to this this is one of the basic reason which major
influence and effects the performance as well as productivity level of the business and also
negatively affect the process of production of a new product.

Lack of creativity: Workers of the business r known to be less innovative as well as
creative which limits them to developing for making a new good in accordance to requirements
and references of the customer of the business. In addition to this it is crucial for the management
of the respective on the organization in order to offer appropriate training to their workers which
will increase their level of motivation as well as several set of skills and competency has this will
support them to think beyond the box and come up with several innovative as well as creative
opinion and ideas which differentiate products and services of the business if it is compared to its
competitors in the market area (Melé, 2022).
Key issues
There are several problems as well as issues that are encountered by the management of the
respective organization original creation in relation to the high returns of the product which
influence the entire productivity of the business and its performance as well. In addition to this it
is crucial for the commercial organization in order to evaluate these problems and make
strategies in accordance to lead the organization towards success and sustainability and few of
the problem are described below:
 Outsourcing dependence - Requirement of outsourcing is known to be major problem
that effect the entire performance and efficiency of the business. In relation to the
organization original creation management do not manufacture goods and services itself
rather than they focus on outsourcing the manufacturing of the product as this idea assess
the other commercial business in order to produce the services and goods of the business
that can lead to enhanced dependence on other organization which can effect negatively
to the business in existing environment of the business which is highly competitive.
Outsourcing in fact on the entire productivity and performance of the business because
management is not able to function every of these operations and its workers are not
adequate enough in order to develop services and goods in accordance to needs and
preferences of the clients (Mere, 2022).
 Low sales volume - Low volume of the sales is one of the major issue and problem that is
encountered by the respective organization original creation which effect on the entire
existence of the commercial business in existing environment of the business. Decline of
the sales also minimizes the profitability and performance of the business and
organization requires to make several new goods and also anticipate requirements and

preferences of the consumers in order to increase the requirement and sales of the good in
the existing market area in which the organization is functioning as it will assist them in
their long term sustainability and success in the market area. Low sales also minimize the
entire profitability and effectiveness of the business for the long period of time and it can
also lead to sharing of the market with competitors as well.
 Poor communication - Ineffective as well as poor communication is one of the major
problem which is faced by the respective business and in the method or and process of
making a new good worker does not focus on interacting with each other and because of
this it increasing several conflicts and issues in the department which minimises the
productivity and performance of the business for the long period of time. Moreover to
this in order to launch new good in the market area with effectual communication on the
other hand lack of interaction as well as coordination among the workers can effect on
the entire process of development of the good. In addition to this it is also crucial for the
workers of the respective organization original creation in order to interact as well as
communicate with their consumer base and solve their problems and queries in
accordance to lead the operations of the business in the suitable way with more
effectiveness and efficiency (Mohseni, and et.al., 2022).
Recommendations
As management of the original creation encounter several difficulties and problems that
are linked to modification in the existing product and development of a new product which effect
on the productivity and operations of the business. So this is crucial for management in order to
evaluate these issues in effective and efficient way and later that developed and makes several
techniques and strategies that are effective which will assist the business in leading the
operations of business in the successful and sustainable manner. View of the recommendation
are described below in brief:
 Adopt effective recruitment procedure and provide training - This is recommended to
management of the original creation in accordance to utilise efficient and systematic
procedure of recruitment and selection which supports the business in accordance to
acquire Skilled as well as effectual workers that can function the operations of the
business in a suitable way possible. Business also need to conduct appropriate programs
of training and development for the staff which increases the capabilities and

performance of workers as it will lead the business towards long term success and
sustainability in the market area.
 Strategic management - This is also recommended to the respective organization in order
to execute the technique of strategic management in the operations of their business
which will provide a sessions to the organization in order to plan effectual techniques and
strategies in a suitable as possible. In addition to this the idea of strategic management
this is the business in order to minimise several risk that are linked with the functions of
the business that supports the respective of business in accordance to accomplish the edge
over there competition in the market area for the long period of time (Mosavi,
Heidarzadeh, and Akbari Ganjeh, 2022). This also assist the operations of business in
accordance to gain several potential opportunities and function the operations of business
in the structure and systematic way that will be beneficial for the long term sustainability
and growth of the business in the market area.
 Develop effective planning and strategy - This is crucial for the business in accordance
to make suitable and effectual planning and strategies which assist the management of the
business to maintain the circumstance and conditions in best suitable way and accomplish
long term goals as well as objectives effectively and efficiently. By making as well as
executing effectual planning management of respective organization can function the
process of manufacturing with more effectiveness and efficiency and this also assist the
organization in accordance to function the work and task of the business appropriately.
Moreover to this systematic as well as strong execution planning assist the operations of
the business in accordance to function those operations properly and effectively.
 Adopt effective business structure - This is also recommended to the business in
accordance to factual structure of the business which assists the organization to
coordinate and interact all the strategies and policies at several level of hierarchy of the
business which increases the workers as well as they are understanding related to
objectives and goals of the business which management requires to accomplish in a
specific time with more effectiveness and efficiency.
 Risk management - This is basically suggested to the respective business in accordance
to manage their raise effectively which supports them to reduce the high risk that leads to
uncertainty the environment of the business. In addition to this this is also crucial for the

business in accordance to evaluate several risk that are linked with the procedure of
planning and making several effective strategies in accordance to overcome these
problem properly which leads towards enhance level of productivity and performance of
the business.
CONCLUSION
From the above report it has been concluded that management of the business is one of
the most crucial element and process that provides support and assistance to the commercial
business in order to maintain its every of the practices as well as actions in order to achieve
predetermined goals and objectives in an effective as well as efficient way as well as also
accomplished operations of the business suitably. Moreover to this strategic management is
crucial for the commercial business because it provides support to the management in order to
function its operations in most effective as well as efficient way possible and in this method of
development of a new product this is also essential in accordance to make sure that quality of the
goods as well as product these need to be good that will fulfil as well as satisfy the requirements
and needs of the consumers in the market area and it will also assist them in retaining with them
with the organization which will be beneficial for the business for their long term growth as well
as sustainability in the market area as it will lead to higher profitability and success.
Reflection
Reflection is known as effectual method that supports a person in order to express their
understanding and knowledge as well as experience to other people with more effectiveness and
efficiency. In addition to this throughout several educational lessons there are various
capabilities and setups different skills are adopted by me that can assist me to function more
effectively in my future professional life and education career. I have also understood that human
resource management is the crucial subject for the people in accordance to learn because it assist
them to maintaining the practices and performance of their members in the team and there are
several practices of human research that are executed by me that supports need to become more
effectual leader and manager (Mouzas, and Bauer, 2022). Moreover to this I have also adapted
understanding and knowledge later in week related to the idea of entrepreneurship and
innovation in which innovation has the very crucial part in success as well as sustainability of the
business and also in differentiating it from other players in the market area that are rivals of the

business. In addition to this innovation has the very crucial part in making the entrepreneur
successful and entrepreneur need to require few of specific set of skills as well as capabilities
that supports to function the operations of business in effective as well as efficient way.
Moreover to this I have also realised that it is crucial to focus on adapting several capabilities
and competencies because it will support in making several crucial as well as complex decisions
and leading the operations of business in the proper way.
There are several frameworks of reflection which are utilized by a person in order to express
their experience as well as feelings. I have also known to be the several techniques of learning in
condition which assist me to manage the condition in suitable condition effectively. There are
many problems and issue which makes barriers in my knowledge. I have understood many
method which are problem solving and many other which increases growth and development.
Here is another method such as Kolb cycle of learning is the vital framework which involves
several stages which shows how a person adapt learning and knowledge to function their work in
effective way.
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