Ready Sports Equipments Business Plan
Added on 2020-03-07
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Running head: INNOVATION AND ENTREPRENUERSHIP Innovation and EntrepreneurshipName of StudentStudent IDAuthor’s Note
1INNOVATION AND ENTREPRENUERSHIPTable of ContentsBusiness Plan: Ready Sports Equipments:......................................................................................2Vision:..........................................................................................................................................2Mission:.......................................................................................................................................2Goals:...........................................................................................................................................2Strategic Plans:............................................................................................................................2Action Plan:.................................................................................................................................21. Porter’s 5 Forces:.........................................................................................................................42. PESTLE Analysis:.......................................................................................................................53. SWOT..........................................................................................................................................6Reference:........................................................................................................................................7
2INNOVATION AND ENTREPRENUERSHIPBusiness Plan: Ready Sports Equipments:Vision:Ready Sports Equipments would look to bring in improvement and motivation in everyhuman being. Within the next 3 years the company focuses on growing into a $50 millioncompany in Singapore and other adjoining areas. This sports equipments manufacturer wouldoffer all sorts of sporting apparatus to both athletes and non-athletes.Mission:Ready Sports Equipments: Helping people to dream like an athlete. Goals:The primary goals would be:a. Brand appreciation. Ready Sports Equipments would be an identified sporting goods andfitness equipment manufacturer in Singapore.b. It looks to serve the younger athletes, para-athletes and runners.c. To be operating at a profitable rate by the end of the first annual year of businessd. Attaining a 15 per cent expansion rate in sales from the first year to second year, andmaintaining no less than 10.5 per cent growth velocity subsequently. Strategic Plans:a. Increasing efficiency in community events.b. It would try and focus on ‘programs’ supporting families, youth development and womeneducation.c. Manufacturing sports equipments that would help the disability people a great deal.d. To increase the share in the market to be the leader in the market.e. Its initial brand ‘Reefil’ looks to become the training and fitness brad for casual and activesports.f. Expanding Ready Sports Style in the business of first fashion with Boost brand.Action Plan:a. Upgrading the website to being more user-friendly than professional, offering incentives andpromotions in attracting customers to the site on regular basis. b. Negotiating best possible agreements with the key suppliers facilitating us in improving thehold down costs, margins, and inventory turnover.
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