Entrepreneurship Development: Manufacturing Sports Equipment
Added on 2023-01-10
12 Pages3940 Words73 Views
|
|
|
Entrepreneurship
Development
Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
INTRODUCTION............................................................................................................................3
Development
Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
INTRODUCTION............................................................................................................................3
Canvas for customer value propositions..........................................................................................4
Canvas for lean business model.......................................................................................................5
C level specialist contribution..........................................................................................................7
Financial and financing plan............................................................................................................8
CONCLUSION....................................................................................................................................8
REFERENCES.....................................................................................................................................9
APPENDIX 1.....................................................................................................................................10
APPENDIX 2.....................................................................................................................................11
INTRODUCTION
Every business takes some idea before starting of any business. For carrying put any
business the entrepreneur takes an idea which he believes is unique or he can perform that business
with much interest and values. For survival it is very much necessary for the business to bring the
innovation into their products or services offered, in their systems, structures and so on. For the
development of an enterprise a proper development of idea is very much necessary. For reference
this report has taken an example of an idea of manufacturing the equipments for sports. The
organisation is concern with the establishment of a business which is concern with the
manufacturing of sports related equipments.
Canvas for lean business model.......................................................................................................5
C level specialist contribution..........................................................................................................7
Financial and financing plan............................................................................................................8
CONCLUSION....................................................................................................................................8
REFERENCES.....................................................................................................................................9
APPENDIX 1.....................................................................................................................................10
APPENDIX 2.....................................................................................................................................11
INTRODUCTION
Every business takes some idea before starting of any business. For carrying put any
business the entrepreneur takes an idea which he believes is unique or he can perform that business
with much interest and values. For survival it is very much necessary for the business to bring the
innovation into their products or services offered, in their systems, structures and so on. For the
development of an enterprise a proper development of idea is very much necessary. For reference
this report has taken an example of an idea of manufacturing the equipments for sports. The
organisation is concern with the establishment of a business which is concern with the
manufacturing of sports related equipments.
This report discusses about the plan which the company has with regard to the idea, it
includes the opportunities which the organisation has with itself. The report also develops the
business and finance plan wit regard to the business idea. The report also includes the value
proposition model and the business canvas model which help the business in framing its operational
layout.
MAIN BODY
INTRODUCTION
The business idea is to open a manufacturing unit for sports related equipments. The basic
purpose for the business is to manufacture or deliver the high quality of sports related equipments.
As the increase the trend and craze among the people for sports and fitness and also increase the
market share and value for the sports industries. The business has the plans for manufacturing the
high quality product (Akhter and Sumi, 2014). The strategy which is followed by the company
totally has put focus on its quality and not at its price offered. The company has planned to put the
high prices for their products. All these sports related equipments would be so authentic that they
can be used by the athletes also. The major target for the company will be the athletes and the
authentic sports academics which sponsors the sports equipments to their students. The company is
also planning to open the stores at some of the metro politician cities in which the customers can
visit and buy the products. Apart from this the organisation would be also opening its business at the
online platform so that the customers or the interested people can visit there and can buy the
products of they liked it. Every company or business has some plans with respect to their growth,
likewise this manufacturing company also has the following 3 years plan:
Creating the business awareness and a good market about the company within three year. At
least the strong base should get establish by the organisation.
Establishing or positioning of brand in the minds of targeted customers so that they get
aware about the brand existence and the values it got to offer to the people.
There should be a 2% rise into the profits of the company. The organisation should make the
profits in an increasing speed of 2% at least and the future operational activities should also
get increased with the same increasing rate so that ample of products should get available in
the target targeted.
At the initial year the company had a profit of 2000 units (Ayoade and Agwu, 2016). From the
proper research the company has the ability to have increase in its profit by 10% per annum. The
calculations of revenue with the total sales for around 3 years are presented below:
Particulars 1st year 2nd year 3rd year
Units sold 2000 2200 ( 2000 + 10 % ) 2420 ( 2200 + 10 % )
Sales ( 30 Per unit ) 60000 66000 72600
Less: cost ( 10 per
unit )
20000 22000 24200
Profit: 40000 44000 48400
Profit margin:
Profit / sales * 100
40000 / 60000 *100 44000 / 66000 * 100 48400 / 72600 * 100
includes the opportunities which the organisation has with itself. The report also develops the
business and finance plan wit regard to the business idea. The report also includes the value
proposition model and the business canvas model which help the business in framing its operational
layout.
MAIN BODY
INTRODUCTION
The business idea is to open a manufacturing unit for sports related equipments. The basic
purpose for the business is to manufacture or deliver the high quality of sports related equipments.
As the increase the trend and craze among the people for sports and fitness and also increase the
market share and value for the sports industries. The business has the plans for manufacturing the
high quality product (Akhter and Sumi, 2014). The strategy which is followed by the company
totally has put focus on its quality and not at its price offered. The company has planned to put the
high prices for their products. All these sports related equipments would be so authentic that they
can be used by the athletes also. The major target for the company will be the athletes and the
authentic sports academics which sponsors the sports equipments to their students. The company is
also planning to open the stores at some of the metro politician cities in which the customers can
visit and buy the products. Apart from this the organisation would be also opening its business at the
online platform so that the customers or the interested people can visit there and can buy the
products of they liked it. Every company or business has some plans with respect to their growth,
likewise this manufacturing company also has the following 3 years plan:
Creating the business awareness and a good market about the company within three year. At
least the strong base should get establish by the organisation.
Establishing or positioning of brand in the minds of targeted customers so that they get
aware about the brand existence and the values it got to offer to the people.
There should be a 2% rise into the profits of the company. The organisation should make the
profits in an increasing speed of 2% at least and the future operational activities should also
get increased with the same increasing rate so that ample of products should get available in
the target targeted.
At the initial year the company had a profit of 2000 units (Ayoade and Agwu, 2016). From the
proper research the company has the ability to have increase in its profit by 10% per annum. The
calculations of revenue with the total sales for around 3 years are presented below:
Particulars 1st year 2nd year 3rd year
Units sold 2000 2200 ( 2000 + 10 % ) 2420 ( 2200 + 10 % )
Sales ( 30 Per unit ) 60000 66000 72600
Less: cost ( 10 per
unit )
20000 22000 24200
Profit: 40000 44000 48400
Profit margin:
Profit / sales * 100
40000 / 60000 *100 44000 / 66000 * 100 48400 / 72600 * 100
66.67 % 66.67 % 66.67 %
From the table presented above, the organisation would be earning a profit of 40000 in its
initial year. Having such profit in the initial or introduction year is quite an achievement for the
company. The profits for the company also gets increased into the further years with the profits
44000 and 48400 respectively in 2nd and 3rd year. It is already very much identified that the
organisation profit is increasing but with the same phase and speed. The organisation can increase
their volume for profits through increase into existing market or increase in the advertising or
promotional methods (Chang and Rieple, 2013).
Canvas for customer value propositions
This is a framework which was developed by the Alexandra Osterwadler. This framework
which ensures that the products or the services which are offered by the company should be around
the needs and demand of customers. The products i.e. sports equipments are provided by the
company's should be in relation to the needs and demands of the customers also. These products
must create values for the customers. Customers are the actual people who would deliver the profits
to any organisation. Organisation also knows that they only can earn profit from the satisfaction of
customer needs and wants. The organisation that's why focuses upon the needs and demand of the
customers and plan the product such that they satisfies the same. Various components are stick with
this model and some of them are as follows:
Product: Here the products are the sports equipments offered by the company. The basic strategy
which is followed by the company is providing the high quality products to the customers. The
company does not believe in setting the low prices for their products but they have the strategy for
charging the higher prices for their products as they are delivering the products of high quality. The
products includes basically the three components which are features, experience and benefits. The
features which are provided by the company's product are very much unique which has the benefits
for satisfaction and high quality. As the company is very much new into the industry it does not
have much experience with regard to its products (Doern and Goss, 2013). This manufacturing unit
for these products has done many research before the manufacturing of the same. They have tried
there best that they can manufactures the product with the good quality and unique speciality.
Customers: The customer component also has three aspects which are fear, needs and wants.
Needs are the basic needs which any human may require for its basic survival. Wants are the wishes
of an individual in which they wish about the thinks which they wish they could buy or have. The
customer would be very much satisfied after their purchase of the product. The quality which are
offered by the company is quite costly but they all are of nice quality. These products cannot get
afford by the people belonging to below average class group as their prices are every much high.
The experience and comfort which is provided by these sports equipment are very much different
and unique. The products that are offered by the company is very durable and would last long for
years. Products like these work as an asset for the purchaser as because of their high quality they
would last long.
The model for the above concept is shown into diagram below:
From the table presented above, the organisation would be earning a profit of 40000 in its
initial year. Having such profit in the initial or introduction year is quite an achievement for the
company. The profits for the company also gets increased into the further years with the profits
44000 and 48400 respectively in 2nd and 3rd year. It is already very much identified that the
organisation profit is increasing but with the same phase and speed. The organisation can increase
their volume for profits through increase into existing market or increase in the advertising or
promotional methods (Chang and Rieple, 2013).
Canvas for customer value propositions
This is a framework which was developed by the Alexandra Osterwadler. This framework
which ensures that the products or the services which are offered by the company should be around
the needs and demand of customers. The products i.e. sports equipments are provided by the
company's should be in relation to the needs and demands of the customers also. These products
must create values for the customers. Customers are the actual people who would deliver the profits
to any organisation. Organisation also knows that they only can earn profit from the satisfaction of
customer needs and wants. The organisation that's why focuses upon the needs and demand of the
customers and plan the product such that they satisfies the same. Various components are stick with
this model and some of them are as follows:
Product: Here the products are the sports equipments offered by the company. The basic strategy
which is followed by the company is providing the high quality products to the customers. The
company does not believe in setting the low prices for their products but they have the strategy for
charging the higher prices for their products as they are delivering the products of high quality. The
products includes basically the three components which are features, experience and benefits. The
features which are provided by the company's product are very much unique which has the benefits
for satisfaction and high quality. As the company is very much new into the industry it does not
have much experience with regard to its products (Doern and Goss, 2013). This manufacturing unit
for these products has done many research before the manufacturing of the same. They have tried
there best that they can manufactures the product with the good quality and unique speciality.
Customers: The customer component also has three aspects which are fear, needs and wants.
Needs are the basic needs which any human may require for its basic survival. Wants are the wishes
of an individual in which they wish about the thinks which they wish they could buy or have. The
customer would be very much satisfied after their purchase of the product. The quality which are
offered by the company is quite costly but they all are of nice quality. These products cannot get
afford by the people belonging to below average class group as their prices are every much high.
The experience and comfort which is provided by these sports equipment are very much different
and unique. The products that are offered by the company is very durable and would last long for
years. Products like these work as an asset for the purchaser as because of their high quality they
would last long.
The model for the above concept is shown into diagram below:
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents