logo

Managing a successful business INTRODUCTION 1 MAIN BODY

   

Added on  2020-12-26

26 Pages5368 Words357 Views
Managing a successfulbusiness

Table of ContentsINTRODUCTION ..........................................................................................................................1MAIN BODY...................................................................................................................................1P1 (A) Project aims and objectives.............................................................................................1P2 (B1) Project management plan that covers cost, scope, time, quality, communication andresources......................................................................................................................................2P3 (B2) Work breakdown structure and a Gantt chart................................................................4P4 (C) Research to generate knowledge ....................................................................................5P5 (D, E) Data analysis and interpretation..................................................................................7P6 (F)Recommendations...........................................................................................................11P7 (G)performance review........................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14Appendix .........................................................................................................................................1

INTRODUCTION Managing a successful business is a critical task for every employees, as it includesvarious aspects like cost, time, quality, resources etc. which need to be taken into considerationwhile making an effective project plan which will indirectly result in achieving a successfulbusiness in competitive market at global level (Ariely, 2012). Therefore the company which isbeing taken into consideration in order to carry out this assignment is Bianca shoe line. It is oneof the retailer operating firm which is engaged product line of shoes. Therefore in order toachieve success this company has challenged to create and market a brand new summer shoes soas to compete with big name brand by taking part in London fashion week which is taking placeon 16th - 20th February 2019. This assignment gives the brief about the aims and objectives ofproject as well as well as work break down structure and Gantt chart is being prepared. Lastly arecommendation is being given so as to carry out project plan effectively.MAIN BODYP1 (A) Project aims and objectives Bianca shoe line is one of the retailer operating firm which is engaged in products itemsof shoes. Therefore in order to achieve success this company has challenged to create and marketa brand new summer shoes so as to compete with big name brand by taking part in Londonfashion week which is taking place on 16th - 20th February 2019. The time frame to accomplishthis challenge is of 2 months (Zone and Ayech, 2014).Aims:“To create and market a brand new summer shoes in order to take part in London fashionweek which is taking place on 16th - 20th February 2019”- A case study onBianca shoe line”.Objectives:To create and market summer shoes so as to compete with big name brand by increasingsales from 10% to 12% within 3 months.To test the designed shoes before taking product into the market so as to increase sales upto 12 % within 3 months.To evaluate the success of project implementation whether increase in sales up to 12% isbeing achieved or not within 3 months so that recommendation can be suggested tocompany if there need to make any changes.1

P2 (B1) Project management plan that covers cost, scope, time, quality, communication andresourcesProject management plan is legal, formal document which is used in order to manage andproper execute project activities. With the help of project management plan, there is properdefinition of aims and objectives, measures to control operations in effective manner. This helpsto create coordination in better and relevant manner. Research is done with the help of differentactivities such as introduction, aims and objectives, data collection, etc. which are discussed inproject management plan and actions are performed in better and relevant manner(BOUGUENOUS, 2012). There are some components which are considered to get positiveresults, these are discussed as under-Cost- Cost is the amount which is incurred in launching and marketing of new product bymanagers of Bianca shoe line. There is requirement of proper planning of activities, resources,etc. which makes performance of globalise activities. It is cost related to leasing expense, labourcoat, expertise knowledge, etc. which helps in successful launching of Summer Shoe in LondonFashion Week. There is estimation of around £6200 cost for successful launch of product. Whileconducting this research, there is requirement of change some cost for completion of project.This requires cost of around £200 for making available internet connect and other mandatorythings. Scope- Scope refers area under which activities has to be performed. As per case oflaunching Summer Shoes in London Fashion Week, there is increment in scope of workingbecause with new market, there is more competition, sales, consumer base, etc. for Bianca shoeline. With globalise working criteria gets improved which is beneficial for growth anddevelopment of organisation (Pekuri and et. al., 2014). With conducting, this research researcheris able to have knowledge about globalisation, techniques of conducing research, etc. Hence innear future, it is easy for researcher to conduct research related to topic. Time- Time is required to conduct research under which aims and objectives have toattain. In this research aims to launch and market Summer Shoe in London Fashion Week, sothere is requirement of specific time. Mangers of Bianca shoe line requires time of 8 months in2

which proper planning, related to launching is conducted. This research is conducted within 8weeks because there re many activities such as introduction, planning aims and objectives, etc.,are performed. In order to analyse time of research, time scale is used. Time scale is thetechnique which is used by researcher to analyse different time allotted to various researchactivities. Quality- At international level, there are more competitors and consumers are morequality conscious, so in this case it is responsibility of managers of Bianca shoe line to launchbest quality shoe, so they can easily out shine in market. When quality is good, then ther is wordof mouth adverting about New Summer Shoes, so it ease in improving sales. Hence in order todeal at international market, it is essential to maintain quality of product and services. Whileconducting this research, it is responsibility of researcher to collect data from relevant andauthentic sources, this helps to provide proper interpretation and conclusion about research topic.Communication- Communication refers to sharing of information, data, ideas from oneperson to another (Franchini, 2015). Managers of Bianca shoe line are thinking to launch andmarket New Summer Shoes in London Fashion Week, so there must be proper communicationamong different departments. Because there are many departments such as marketing, researchand development, sales, etc. which are indulge in making this event successful. This can be donewith the help of proper communication channel such as business phones, mails, conference calls,meetings, etc. While conducting this research, there is communication among different teammates with the help of mails, conference call, video and audio call, etc. which helps to provideknowledge about roles and responsibilities to individuals. With the help of propercommunication, less possibilities of mismanagement of activities and aims and objectives areachieved within specified time. Risk- Risk is the factor which shoes uncertainty of happening or non happening ofevents. As managers of Bianca shoe line are thinking to launch and market products, then in thiscase there is risk of being failure because of improper advertisement, lack of technologiesaspects, etc. which affects business growth (Pulina and Timpanaro, 2012). Hence this aspect hasto be considered by managers of Bianca shoe line has to consider in order to get positiveoutcome. While expanding business at international level with marketing at London FashionWeek, there is risk of low quality raw material products, quality of product and services is notappropriate, lack of funds, etc. In case of lack of funds, there is delay in launching products at3

London Fashion Week which affects brand image in negative manner. While marketing atinternational level, there is requirement of some employees, so there is risk that employees mayleave job in between the project, this results in lack off workforce. While conducting thisresearch, there is risk of misplacing of data, miscommunication among team mates, etc. whichaffects research activities and aims and objectives may not achieved on time. Resources- There is requirement of different resource such finance, employees, expertiseknowledge, legal advisor, knowledge about local legal legislations, etc. to Bianca shoe line whilelaunching New Summer Shoe at London Fashion Week. With the help of these resources, it iseasy to represent organisation in market which helps in good sales of New Summer Shoe andsuccessful launch (Furlong, 2013). While conducting this research, there is requirement ofresources such as computer, internet connection, communication channel which helps tocommunicate among team mates for successful completion of research. P3 (B2) Work breakdown structure and a Gantt chartWork Break Down structure:Work Break down structure is a deliverable oriented breakdown of different task intosmaller chunks. Additionally its is defined as a key project deliverable which organizes the teamwork into manageable sections (Boserup, Tan and Toulmin, 2013). Thus, it is used by Biancashoe line because it is term be be essential in order to get a project off the ground.4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Project Plan
|30
|5951
|148

Managing a Successful Business Project Assignment | Zara
|27
|5758
|237

Managing A Successful Business Project - Djinn
|29
|5725
|455

Managing A Successful Business Project: Report
|27
|5332
|270

P3 Work breakdown structure and a Gantt chart to provide time frames and stages
|29
|5340
|206

Managing a Successful Business Project
|25
|4188
|139