Organizational Structure - Research and Development

I have attached my Business Plan, Please read it and do a Research and Development.

BUSINESS PLAN
STAR SHOP
(Online Jewellery Business)
Module: Managing Enterprise in the 21st Century
Module Code-BMSW4006
1.0 Introduction
Star shop is a business that shows our creativity and uses the best products to deliver our creation to
our clients. Our skilful and diligent creators meet with our customers' needs using the latest
technology to reach consumers demand.
1.1 Aim and Objectives
Our main Aim is to create high-quality products at a reasonable price and offer a piece of art that
can wear on any occasion.
The objectives are as follows:
 To provide excellent customer services.
 To increase efficiency.
 To reduce business expenses

 To have a successful business development
 To increase traffic on the business website
 To create new products
 To raise a profit margin daily.
 To maintain profitability at the end of the year.
 To use social media as marketing for the business.
 To maintain workplace safety.
 To increase recycling.
 To invest in training to keep our skills updated.
 To acquire new customers, innovating offers.
 To increase sales creating new products.
 To insure financial sustainability
1.2 Company Mission and Vision
Star Shop is an online Jewellery brand that offers bespoke handmade pieces which are carefully
curated and complement the unique style and personality of every customer. The beauty of nature,
the diversity in arts and the vibrancy and colours of the abroad amused our designs paired with the
value and precision of prestigious British craftsmanship.
The team of Star Shop consists of six women combined through their love for extraordinary
handmade jewellery, who seek to allow their customers to showcase their true selves through their
jewellery and unique style choices.
Each founder is responsible for a specific sector of the business and is part of the head management
team. The main areas of responsibilities rank from design, marketing, photography and visuals,
supply chain management, research and development to finances.
The business will be run from the founder private accommodations, until a break-even point (est.
after six months to one year of business). Investments such as office and workshop facilities, as well
as new employees, will only follow a minimum of half a year of consistent profits and growth.
1.3 Legal Compliances
Star Shop is a partnership business that should be registered with HMRC (sales tax) and Companies
House(general license) Each partner should register for self-assessment and complete a separate tax
return.
As UK registered business, we need to display recorded information on the web site as:
· Company name
· Registered number
· Place of registration
· Registered office address
· Contact details/email address
· Non-electronic info on how to contact the business
· The VAT number

· Privacy notice
· Cookie disclosure
· Disclaimer
· GDPR compliant
· PCI compliant
· Online and Distance selling regulations
· Electronic commerce regulations
· Consumer rights act
· Accessibility statement
· Terms and conditions
· Delivery and returns policy
· Copyright statement
· Insurance- A business owner’s policy
2.0 Marketing
Star shop follows a business marketing plan as most companies to help us meet our goals and
objectives through all the business creation.
2.1 Market Planning
Successful business development is associated with very good marketing planning. The ideas and
goals involved with development will help us plan the next steps that are important to the success of
the company.
2.1.1 Market Research
Knowledge of the potential customer has importance for pricing, items and advertising creatives.
The company is planning a maximum market research on the demand for handmade jewellery in
social networks and online forums. By interviewing and surveying a wide range of people, friends
and acquaintances we will be able to identify our potential customer group, as age, social status and
other characteristics.
2.1.2 Competitors
Competitors should not scare us but make us more ambitious and stronger on the market.
Company’s plan includes:
 To use the internet to explore the supply of similar products to ours.
 To draw up a list of know and popular competing companies.
 To explore their strengths and weaknesses.
 To use this to clear our weaknesses and improve our strengths.
2.1.3 Market Planning Strategy
Business planning requires a sales planning strategy.
Our strategy includes gradually launch new jewellery models.
Focus on several models initially and drive sales gradually to maximize results.
Business expansion through new items only, after reaching a certain number of sales.
2.1.4 Assessing the Need for Support Staff
Carefully reviewing the goals and evaluating options for self-management or the need for helpers.
Qualified personnel need training, so we plan to offer a close or friend for sale activities that do not
require special skills but take time – packing and sending jewellery, adding photos to online
platforms and social platforms, etc.

2.1.5 Improvement of Financial Assets Over the Next 5 Years
Part of the company’s goals is related to its financial status.
At the beginning our goals will be determined by weeks and months.
The marketing and advertising strategy that we attend to achieve will be described in detail and
strictly adhered to.
Promotions and special offers for loyal customers will be included in this strategy.
Thus, we expect to achieve a 30 % increase in sales and generate a good profit for the first 6 months
of starting a business.
We plan to increase sales by 50% over the next 2 years and to be in the first five ranks in search
engines.
The expanded marketing strategy we will develop includes a careful monthly calculation of each
expense and production product and many promotional offers for generating high income.
Over the next 5 years our plan is to create new business opportunity around the world.
The company’s plan includes focus on countries where there is a possibility of using cheap labour
and local products for our business.
Next planned step is to increase production capacity as well as new customers and improve
company’s financial revenue.
2.2 Target Market
Our primary target group consist of women aged 17 and above, who are expressionistic, vibrant and
seek to make a statement through their fashion choices. They are modern and individualistic and
rarely shop in average street stores. They value craftsmanship and unique design and deliberately
seek out conform smaller business.
However, part of our brand identity is not to limit our products but let people of all ages and
genders enjoy them.
There are no boundaries for the imagination, so this is the reason our products to be suitable for
almost everyone. Each jewel is one of a kind, it is original, handmade and a piece of art. They are
suitable for a personal buy or a present for nearly any occasion.
Defining more specifically our target market we should say it is oriented towards people from
different age, culture, gender and social background but with one thing in common – the love and
passion for the unique, unexpected and “wow”ing appearance.
Keeping in mind that our team has members of different countries and ages, we can offer a big
perception about the taste and demands of our clients. The other advantage is the possibility to keep
a contact with the local craftsman’s and artists. Thinking about the age, the gender, the culture, the
imagination and the personal style of each one of the jewellery creators it is giving us the
opportunity to offer various products to so many people. The range of goods we present is so
diverse it makes them suitable for any person with love for ornaments.
We seek to make our jewellery easily accessible to as many people as possible. “Online business
has increased in the latest year with profits of £586 million, and online shopping customers are
expected to increase at 93 % in the UK online commerce”, (O’Dea 2019). Due to this, we seek to
follow a digital marketing and distribution approach, utilizing our website as our main storefront.
Customers see vivid images of the products, descriptions of each piece of jewellery, the origin, the
name of the artist and the materials which are used, find FAQs and most common online payment
methods (debit and credit cards, PayPal) at a Star Shop website. Using secure and reliable shipping
methods deliveries take two and five days.
Another method to amplify our customer number and to reach as many age groups as possible is to
create our shops in platforms like Amazon, eBay and especially Etsy.
The target market is changing during the years and we must adapt to it. It is more about the interest
and social appearance these days so let’s say our target market is behavioral orientated. More and

more people are choosing to be themselves, to be different and unique so this is what we offer. A
little pop up to define each one’s uniqueness and personal statement.
2.3 Product Services and development
Our product portfolio consists of various pieces of jewelleries.
Hair and head ornaments-coronets, diadems, tiaras, earrings, hairpin hatpin.
Arms jewelleries-armlet, bracelet, cuff links,
Hands-rings, slave bracelet.
Feet-anklet, toe-ring, torch.
Neck-necklaces, bolo ties, chokers.
Special function-amulets, pledge pins, ropes, beads, key holders.
For all our products we are happy to offer beautiful and functional jewellery boxes. Our creative
team uses a big variety of materials in high quality –gemstones, silver, wax-curving, metal clay,
wood ceramic, leather, fabrics and many others.
Website “star shop” is our main storefront. It is fully compliant with online store requirements and
easily accessible. It is secure to shop on. It works beautifully on mobiles, tablets and other smart
objects. So, we can view the orders from wherever we are. We stay organized and manage our
customers and orders in one place.
Our shop is constantly evolving and upgrading to make sure it is future proof. Our online store is
connected to multiple marketplaces synchronizing listing and orders.
We have created a simple to use category structure with minimal fuss and the shop is easy to browse
and buy from.
The account manager has incredible digital skills and helps get set up and selling in no time.
Star shop has favourable contractual relations with the best delivery companies. The purchases
made by 16 pm on the day will be delivered in London and the area on the next day.
Following current and future trends determined by client’s interest we will develop our business
offering a bespoke order of individual purchases according to the client’s ideas.
2.4 Sales Target and Objectives
 Evaluate the quality of the products with the feedback of the customers.
• Review feedback to see opportunities to improve the product and improve customer services.
• Establish a monthly sale goal.
• Speak with new providers every week to find out new products and prices to increase
sustainability.
• Find out every week what is trending to cope with it and design it.
• Increase our productivity by going to workshops an learn to use new material to create new
products.
• Cut down on costs to leverage our profits.
• Sell every day, 20 units.
• Sell a month 600 units.
• Reinforce digital media for marketing.
• Deliver information according to digital customers.

• Increase follower across all social media platforms used to advertise our company.
• Create relationships of trust between the company and the customers.
• Use Facebook ad.
• Use Instagram and Pinterest to help the customer see the products they are looking for.
• Create a blog and share new post weekly.
• Give some mini-tutorial fortnight about how to make a specific product (bracelet, earring,)
• Write social media post every week.
• Learn to use design using digital appliances.
• Create marketing videos.
• Use YouTube to advertise our videos. Using storylines.
• Create a podcast and invite a guest.
• Comment on ten posts daily.
• Like followers’ comments.
• Feedback to negative comments.
• Learn how to track customers behaviour in social media platforms and on the website.
• Create promotion on specific occasions (Christmas, Mother’s Day, Valentin)
• Reward customers loyalty with discounts.
• Increase sales conversion rate by 5%
• Offers deals when signing up in the website
Objectives
 Improve customer satisfaction by 5%
 Generate more sales
 Decrease website maintenance cost by 10%
 Build up ROI over the next six months by 25%
 Boost traffic to the website
 Rent a study to keep everything accessible to us and share our points of view and feedback
immediately.
 Enlarge email list to increase opportunities for sale.
 Establish working with people or niches that have a broad audience.
 Outsourcing our business in the five years’ time.
2.5 Marketing Strategy
STP approach
Segmentation Business entity will segment its customer base
on the basis age, gender and income aspects. In
other words, entrepreneur will target women
pertaining to middle- and higher-income class.
Business entity will offer jewellery for both
young and old age women.
Targeting Differentiated targeting strategy will be used by
the researcher for attracting customers. On the
basis of this, varied marketing mix will be
prepared for the target market selected.
Positioning Entrepreneur will position products or services
based on price, uniqueness and quality aspects.

Marketing mix
Elements Description
Product Innovatively designed jewellery such as
bracelets, necklaces etc will be offered to the
client via online store at affordable prices.
Price Penetration pricing strategy will be undertaken
for influencing customer decision making and
gaining competitive edge over rivals.
Place Through online website orders for jewellery
will be taken and thereby delivered to the
client.
Promotion Products will be promoted through the mean of
both traditional and non-traditional modes.
Hence, advertisements will be placed on
newspaper, television and social networking
sites (Facebook, Instagram and Twitter). For
attaining success major emphasis will be on
social media marketing or advertisements.
People Competent personnel will be hired having
ability in relation to dealing with clients and
solving their problems quickly.
Process Standardized process will be considered for
taking orders, payment, delivery and exchange
etc.
Physical evidence Website will be created in an innovative
manner which in turn enhances customer traffic
and thereby market share.
2.6 Market Competitors
Competitors of Star Shop
Star Shop is an online jewelry shop which means that we have a lot of competitors. Most of the
online boutiques sell jewelry and accessories as well but they cannot guarantee quality because the
items have been made in China or somewhere else.
We can guarantee quality because all of our products are handmade and also made of high-quality
materials. Customers can find information about the materials and description of the jewelry.
We would like to provide the best to our customers on low prices because people like products with
quality but not too expensive. We have done a research about the other online shops and their price
list and then we decided what the prices of our items would be.
3.0 Management Process/Finance
3.1 Financial Planning and Accounting

Start shop is an online jewellery business that focus on selling the best jewels with excellent quality
and affordable prices.
A financial plan is needed to meet our present and future goals, to work out throughout challenges
and to attain a sustainable business.
 Predict the cash flow now with the points found in the research and we will compare the
real sales and cash flow with the predictions to see its accuracy and profitability.
 Use a star up inventory to find out how much our worth before our sales.
 Open a Bank account
 Hire an accountant to help us pay the right amount of tax and forecasting profits.
 Cash flow
 Balance sheet
 Break even analysis
 Profit and loss analysis
 Business ratios
 Income for all the expenses for six months till the business get the break-even point.

3.2 Cash Flow Planning (Individual Summary)
Coronets
Diadems
Tiaras,
Eearrings
Hairpin hatpin
Armlet
Bracelet
Cuff links
Hands-rings
Feet-anklet
Toe-ring, torch
Neck-necklaces
Bolo ties
Chokers
Amulets
Coronets
Diadems
Tiaras,
Eearrings

Hairpin hatpin
Armlet
Bracelet
Cuff links
Hands-rings
Feet-anklet
Toe-ring, torch
Neck-necklaces
Bolo ties
Chokers

Amulets
Coronets
Diadems
Tiaras,
Eearrings
Hairpin hatpin
Armlet
Bracelet

Cuff links
Hands-rings
Feet-anklet
Toe-ring, torch
Neck-necklaces
Bolo ties
Chokers
Amulets
Total Revenue

Expenses
HR expenses
Logisitcs
Website maintinance
Regular purchase of
material
Hallmarking cost
Other
Total Expenses
Profit

3.3 Balance Sheet

3.4 Current Finance requirements
INITIAL INVESTMENT AMOUNT
1. Limited company registration and licence for the business £50
2. Website design £2000
3. Expenses for the tools needed for the business including:
3.1 Scales £65
3.2 Microscope £250
3.3 Round pliers, scissors, pliers, tweezers, cutter, fibres, radius and
other small tools for work
£250
3.4 Power tools £40
3.5 Different profiles files, rapids, hammers, anvils £40
3.6 Silver smelting furnace £310
3.7 Matrixes for metal – 30x£18 £540
3.8 Electric rollers £1500
3.9 Hand rollers £310
3.10 Spray pliers, drawing pins, towing tools £310
3.11 Grading machine £610
3.12 Casting machine £130
3.13 Jewellery vacuum cleaner £200
3.14 Polishing machine £310
4. Expenses for materials needed for the business including
gemstones and silver
£3500
5. Hallmark registration fee £72
TOTAL: £10487
CURRENT EXPENSES AMOUNT
1. Logistics and delivery costs – approximately £500
2. Website maintenance £100
3. Accountant’s salary – per annum £800
4. Regular purchase of materials – approximately £1000
5. Hallmarking costs - approximately £100
TOTAL: £2500
3.5 Financial Forecast
Financial planning is at the heart of every successful business.
We have planned our business for one year forward and revising every month to incorporate
actual results.
As a new starting business first determine is Start-up costs.
Star-up costs of financing our small business are personal investment from the fifth of us,
friends and relatives, which amount to £11000 pounds. This amount provides all the expenses
needed for the start, described in detail in 3.4. we are not planning debt financing.

Once our business is in operation, we will require adequate funds to finance our new business
from start-up until monthly cash flows are positive.
3.5.1 The financial forecast of the business plan
/amounts in £ /
MONTH SALES FORECAST SALES FORECAST COSTS FORECAST
A. MONTH
NAME
B. Products C. Products D.
Product/service
E.
Assumptions
January 2 000 10 500
February 2 000 266
March 2 500 1 200
April 2 500 1 200
May 3 000 1 200
June 3 500 1 200
July 4 000 1 400
August 4 500 1 600
September 5 000 1 800
October 5 000 1 800
November 5 000 1 800
December 6 500 2 000
TOTAL 45 500 25 966
3.6 Breakdown Analysis.

4. ADMINISTRATION
4.1 Research and Development
The star shop has major aim is to provide best quality products to their customers. It is
essential for a star shop to adopt creative and innovative approach in their business. The
research and development team of star shop takes effective action to promote their work
quality and performances in a very efficient manner. Research and development team used
innovative strategies to enhance efficiency, enhance traffic on their business websites,
increase recycle activities in their production process, create innovative products and to
attract huge customers base by their unique and innovative products. They make a effective
marketing plan to reduce the unnecessary cost or expenses and also decrease the product
prices to capture more customers. They should have to take essential actions to analysis the
market activities and consumers trends in whole market. They will research on the business
activation and make scenario accordingly.
The research and development team have a good knowledge about the planning of
effective research and development. They should have to conduct this activities by following
effective procedure. The research and development activities will helps to develops a
innovative items, best pricing strategy and creative advertising for organisation. It will
improve the market research activities and identify the customer trends for providing
jewellery according to customer's demand and expectation. The effective research and
development planning helps the organisation to launch new jewellery and items quickly. It
improves the organisation's results and productivity. The organisation must have to encourage
the employees for innovative ideas and inspire them by giving proper opportunities. The
research and development team needs to concern about the organisation's products such as
hair and head ornaments, feet anklet, cuff links, arms jewellery etc. in their innovative
process.
4.2 Manufacturing/ Production

4.3 Accounting/ Finance
4.4 CUSTOMER SERVICES
Customer service is the top factor that influences how customers see our brand and builds its
reputation.
The service is responsible for online order process, checkout products journey and solving
orders issue. Company’s policy will include packaging time, shipping time, return or
exchange products.
Packaging – customers usually pay attention not only to product but to packaging as well.
Visual relish has positive impact on clients. Our products will be packaged in a bespoke box
and wrapped in paper that has photos of the workflow of the company in details. Knowing
our work process generates trust and respect in customers. That going to make as unique and
will keep our customers coming back.
Shipping – Free shipping both ways to the UK, track your order, order protection email.
Customer service work is going to be based on some rules and principles:
- Receiving customers' orders
- Packaging products quality
- Delivering our product fast to achieve client’s satisfaction
- Answering the phone for inquiries
- Satisfying clients' needs and expectations in timely and efficient way
- Asking clients for feedback
- Appreciating repeat customers
- Apologising for any mistake
- Maintain a customer relationship
- Deal with complains
- Newer argue with customers
- Using positive language
- Patience
- Taking responsibility
- Always keep our promises

4.5 ICT/HR