Managing Enterprise in the 21st Century - Business Plan for Finer Threads

This presentation is about the business plan for Finer Threads, a clothing retailer focusing on using fine threads to provide quality products. It covers the market planning, financial planning, administration, SWOT and PESTLE analysis.

MANAGING ENTERPRISE IN THE
21ST CENTURY

TABLE OF CONTENT
• Introduction
• Aim and Objectives
• Company Description Mission and Vision
• Legal Compliances
• Management Process/ Marketing
• Management Process / Finance

CONTINUE..
• Management Process/ Administration
• Other Management Process
• SWOT Analysis
• PESTLE Analysis
• CONCLUSION
• REFERENCES:

INTRODUCTION
• This presentation is based on a business plan with new idea. Business plan is the strategy that
formulate by an organisation in order to achieve their growth and objectives. This is necessary
for an entrepreneur to set aims and objectives in their business plan. This business plan is based
on a clothing retailer which name is “Finer Threads”. This business is focusing on using of fine
threads so that they are able to provide good quality of products to their target customers.

AIM AND OBJECTIVES
• Aim:
• “To become a market leader in fashion industry with the help of analysing customer behaviour.”
• Objectives:
• To analyse customer's taste and preference
• To create brand recognition within a year
• To use digital marketing in order to attract more customers.

COMPANY DESCRIPTION MISSION AND VISION
• Finer threads is a new business that is focusing on trendy clothes. In UK, fashion industry plays a
major role in contribution towards GDP. This business has a main target that they provide quality
clothes to their target customers. It has online as well as offline store.
• Vision
• “To innovate the products and provide best value to the customers.”
• Mission
• “To analyse the trends in market and serve customer's effectively.”

LEGAL COMPLIANCES
• This is necessary for every organisation that they should comply all the laws as it is necessary for
legal compliance. In fashion industry, it is crucial for Finer Threads they should make sure about
all Environment laws as it can be produce pollution. But due to fine threads they are complying
this law also.

MANAGEMENT PROCESS/ MARKETING
• Market Planning: This is the most important plan which needs to prepare by Finer Threads in
which they decide the target market and strategy that how they can attract more and more
customers.
• Target Market: Finer Threads has target customers with a age group of 21 to 45.
• Market Research: They are doing market research with the help of taking feedback from
customers in order to identify and analyse the tastes and preferences of customers.

MANAGEMENT PROCESS / FINANCE
• Financial Planning and Accounting: To run a business, it is necessary for an organisation that
they should formulate a financial plan. Finer Thread decide that what amount or cost is requiring
in order to implement their business plan.
• Cash Flow Planning: It is necessary to formulate as it provide the information about cash
inflow and outflow. For that purpose, there are certain requirement which need to be consider:

MANAGEMENT PROCESS/ ADMINISTRATION
• Work Scheduling: This is necessary for Finer Threads that they should schedule the work. In
this stage, they need to divide roles and responsibilities to each employee. Finer Threads is
opened at 11 a.m. to 7 p.m.
Employees Number of employees Working hours
HR 1 8 hours a day
Sales executives 5 8 hours a day
Finance Executive 2 8 hours a day
Marketing executives 2 8 hours a day
Billing executives 3 8 hours a day
Management Team including supervisors 4 8 hours a day
Supporting Staff 2 5 hours a day

OTHER MANAGEMENT PROCESS
• Staff Training: It is necessary for Finer Threads to provide training about the use of quality
threads for making clothes. The period of training is 1 month.

SWOT ANALYSIS
• It is an important tool which analyse the internal environment of organisation.
Strengths
 It is found that fashion industry is at
boom and that's why it becomes
strength for Finer Threads as they are
able to grow their business.
Weakness
 Due to start up, an organisation needs to
allocate money which is not enough in
initial stages.
Opportunities
 With the use of social media, they have
an opportunity to attract customers.
Threats
 Pandemic situation becomes a big threat
for new start-ups.

PESTLE ANALYSIS
• It is the framework in which an organisation analyses the macro environmental factors. It consists of
6 important factors that are mentioned below:
• Political factors
• Economic factors
• Social factors
• Technological Factors
• Legal Factors
• Environmental factors

CONCLUSION
• It is concluded that it is necessary for an organisation to formulate a business plan so that they
are able to achieve the desired goals. This is necessary for an organisation to consider all the
important element in business plan.

REFERENCES
• Tipu, S.A.A., 2019. Business plan competitions in developed and emerging economies: What do
we still need to know?. Journal of entrepreneurship in emerging economies.
• Genadinik, A., 2019. Business plan template and example: how to write a business plan: Business
planning made simple. Alex Genadinik.
• Fauzi, R.U.A., 2021. The Influence of Business Plan Competition and Loan Provision on Nurturing
the Spirit of Entrepreneurship Among Students. Advances in Economics, Business and
Management Research, 161, pp.188-192.