Assessment of White Furniture's New Product Segment

The assignment content discusses a business development proposal for White Furniture, a furniture retailer launching its new product segment called office furniture. The proposal aims to increase market share by introducing ergonomic furniture, providing excellent customer service, and multiplying sales within two years. To achieve these objectives, the company needs to develop an operational plan that includes human resource management, marketing, technology, business processes, and optimal utilization of resources such as manpower, funds, contacts, location, warehouse, tools, and equipment. The proposal has the potential to come into action with teamwork, internal communication, cost improvement, and a focus on unique products like ergonomic furniture. The findings and outcomes of this project are feasible and can aid in boosting sales in the furniture industry by introducing a new product concept that focuses on health issues.

RESEARCH
REFLECTION REPORT
(should contain the details given
below) Please type your responses in the spaces below:
Marks
availabl
e
Research Methods & Processes
How and why have you
chosen/decided on the research
methods and processes which you
are using/have used for the
development of your Major
Project?
How would you describe these to:
1) a reader of your Major Project
and/or
2) a future employer
(max. 550 words)
For the purpose of conducting this project,
methodology of choosing existing business is
selected. For this, White Furniture has been
selected which is an American based furniture
company. It is well known for producing fine
furniture and hence possesses large set of
target customers. In present project, I have
showcased the expansion of this company into
new segment, i.e. office furniture. Here, main
concern while developing furniture is on the
office ergonomics so that health issues can be
concerned. While framing outline for this
project, I was having two set of options to
complete the same i.e. either new business
start-up as an entrepreneur or developing
futuristic plan for existing business. However,
my idea was to introduce furniture that best fits
with office ergonomics and same is not
feasible for new start-up. Therefore, by
considering the feasibility aspects, existing
business is selected for the aforesaid business
plan and hence White Furniture Company is
selected. It is a well-established firm along
with sound financial condition which can adopt
the concept of office ergonomics so that new
heights within business growth can be attained.
In order to progress with this research,
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focus is laid on research approach and design
so that plan can be developed and implemented
in effectual manner. For this purpose,
qualitative and quantitative approach has been
undertaken by me with a motive to progress
with the study in desired manner. Under
qualitative approach, theoretical description
and models have been used that supported in
gaining insight of the subject matter. Based on
it, business idea is developed in line with
models which might help cited company in
boosting the effectiveness of plan. Beside this,
financial projection, facts and figures have
been involved within the context of
quantitative approach. This helps in developing
feasible plan along with identification of
achievable targets. Through this, reliability of
the developed plan has been increased. Since,
it is evident that product designed in the
business plan is linked with office ergonomics
which is quite new concepts in furniture
industry. Therefore, to support this idea,
experimental research design is applied. This
aided in conducting whole plan in effectual
manner.
Describing Plan to Reader
For the purpose of describing plan to
reader of major project, report format will be
used. In this, systematic arrangements of
information have been done with the help of
chapters. Through this, information is shared
with the readers in proper manner through
which they can grasp the idea of the plan.

Further, report will give in-depth information
regarding the assumptions and plan which has
been considered while making the plan.
Future Employer
Further, this plan can be displayed as
market opportunity to my future employer so
that it can be applied for boosting the market
share. Additionally, this plan can be displayed
as part of showcasing my critical thinking and
analytical skills. Also, it reflects my vision
approach which can help existing firm like
White Furniture to enhance its competency and
the market share. This will certainly help in
building my unique image within the eye of
my new employer.
.
Literature & sources
1) What are the most important
theories/literature sources
/evidence sources which you are
using to justify your research and
your Major Project?
2) Why are these sources
important and fundamental to
your work?
(max. 550 words)
Following sources have proved to be very
important this research plan.
Abrams, R., 2003. The Successful Business
Plan: Secrets & Strategies. The planning Shop.
The above book belongs to the author Abrams.
This book is describes the secrets and
strategies of the successful business plan. The
authors has stated the approaches related to
how a business can be made successful and
effective. It also quotes examples of famous
entrepreneurs who have made a great carrier in
the corporate world. It has helped in the
business plan by giving high amount of
guidance and learning on various subjects.
Further it has helped in framing of sales,
marketing, operational and financial strategy
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for the business.
The American Furniture Industry: 2014. [Pdf]
Available through: <
http://www.abtv.com/uploads/files/ABTV
%202014%20Furniture%20Industry%20Watch
%20Report.pdf>. /> [Accessed On 7th
November 2015]
This source is an online link related to the
furniture industry in USA. It is an ABTV
industry watch report containing the relevant
facts and statistics related to the furniture
industry. It concludes that emerging trends in
US continue to impact furniture manufacturing
in the short term. Consumers’ preferences are
changing dramatically as the Baby Boomers
exit. It is a very important source for the
business proposal of White Furniture as it
provides many valuable knowledge for the
purpose of market analysis.
Kraten, M., 2010. Business Planning and
Entrepreneurship: An Accounting Approach.
Business Expert.
The above written book belongs to Kraten. It is
about Business Planning and Entrepreneurship.
It shows various aspects of new business
planning and organizing. It describes the
various elements of entrepreneurship. The dos
and donts related to entrepreneurship are
highlighted. It has helped in understanding
how the planning is done and how the
resources are arranged in new venture.
Knowledge related to accounting approach has
also been given and analysed.

Morato, A. E., 2013. Business Decision
Making. eBookIt.com
The above book is of author named Morato. It
shows how business decisions are taken. It
points out the factors which are taken into
consideration while framing the decisions.
These are very crucial from the success point
of view. The source has helped in
understanding how sound business decisions
can be taken. It talks about the approached
through business information can be analysed.
It is a great source for new entrepreneurs who
are looking for start-up. White Furniture is also
looking for some expansion, hence in this case
they are required to take some sensitive
decisions which are important.
Brunsman, B., DeVore, S. and Houston, A.,
2011. The corporate strategy function:
improving its value and effectiveness. Journal
of Business Strategy. 32(5). pp.43 – 50.
The above source belongs to Brunsman,
DeVore and Houston. This source reflects how
a corporate strategy functions. It is about
improving the value and effectiveness for the
business. This source has helped in deciding
the strategy of the White Furniture related to
marketing, finance, human resource, sales etc.
Framing of a corporate strategy requires lot of
concentration and focus on planning. There is a
need to analyse what are the resources
available and what are to be utilized..
Your Knowledge
What key areas of knowledge
Different key areas of knowledge have been
gained from the undertaking of this research

have you gained from
undertaking your research and the
Major Project?
Indicate why these are so
important to you?
(max. 400 words)
project. These are as follows:
• First of all I studied the US furniture
industry. It was a great experience and I gained
lot of valuable knowledge. It was realized that
Furniture retail is playing an important role in
the country’s economy and is a very big
industry. Office furniture is one of the major
revenue contributors in the furniture market of
U.S. The market is expected to grow at a
CAGR of 11.27% in terms of consumption
over the period of 2014-2019.
• While analysing the industry
attractiveness it was identified that Office jobs
are getting very common and most of the
people have the job of sitting in the office for
10-12 hours. Due to this they are facing serious
health issues. So, White Furniture is coming up
with a specially designed product that is
ergonomic furniture. These kind of products
offers safe and healthy working environment
for the customers. This sounds a great business
opportunity for the company
• Further I developed the knowledge
related to application of some business models
such as SWOT, PESTLE, Mckinsey 7s
Framework, Value Chain Analysis etc. These
models helped in scanning the environmental
conditions of the US furniture industry. These
models assisted in develop a strategic approach
towards the new business. Accordingly I was
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able to design strategies for the new business.
• I also improved my knowledge related
to finance. I was required to prepare projected
profit & loss statement, balance sheet and cash
flow statement. It is not easy to take
assumptions as it needs great level of
forecasting skills. However I was able to
forecast the numbers and figures in correct
manner. Further sales forecast was made
correctly and breakeven was also achieved.
• Further I improved by knowledge
related to subjects like marketing, human
resources, operations etc. With regard to
marketing under the business plan, I was
required to make a marketing plan. White
Furniture will employ two kinds of marketing
strategies. First is local strategy under which
three marketing approaches will be followed in
old fashioned way. Another is online strategy
under which approaches such Search engines,
Pay per click advertising, Link-building
Campaign and Affiliate program will be
followed. Marketing and promotion is very
important for the new business because
customers are made to know about the
products and services of the company.

Your Learning
What are the most important
aspects/examples of learning
and/or skills which you have
gained from:
(1) undertaking the MBA
programme,
(2) following through your
research, and
(3) applying your knowledge and
what you have learnt in your
Major Project
(max. 400 words)
Undertaking the MBA programme, I
gained different types of management skills.
This education program has helped in gaining
new skills and enhancing the existing skills.
First of all how to organize the work it was
learned. At present I am capable of managing
my own work. White the course of MBA, I
attended several types of management
workshops and improved my dictionary of
learning. One of the most essential skill under
management is time management. . It is very
significant to assign priorities to activities and
to perform time scheduling. One is required to
complete the activities within the decided
framework. It ensures discipline and control in
all the aspects. MBA is a program which
makes you learn many things and one can learn
from several experiences. I improved by
participation and communication skills through
mediums such as brain storming, debates,
group discussions etc. I also learned how to
make effective decisions because MBA
program requires taking of many important
decisions.
While the course of this research
report, I was able to become more creative and
innovative. This business development
proposal was about a company named White
Furniture launching its new product segment
that is office furniture. It is evident that office
furniture has been supplied by several retailers
across the world. Hence it was necessary to
think something unique and different. After so
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much brainstorming and discussion with my
mentor, I came with the idea of Ergonomic
products. It was a sign of creativity and
innovation for the new business. I also
improved my planning skills as lot of things
were to be planned and framed. Lot of factors
are taken into consideration and to be analysed.
This project also helped me in learning various
theories and concepts. Now I am capable of
applying different types of business models to
any industry, situation and sector. Formation of
projected financial statements was also a very
difficult task. However with the knowledge of
the US Furniture industry and studying various
economic factors I was able to do the
calculations in effective manner. Hence it can
be said that this project has offered me a wide
range of skills and learning.
Critical Thinking and your
ideas
In carrying out your research,
your analysis, your evaluation of
evidence, and in identifying or
proposing conclusions, what has
been the most important
discovery, or piece of evidence,
or theory, or viewpoint, or critical
idea, or critical addition to your
knowledge, or other item of
importance and why?
The most important discovery of this research
report is that this business development
proposal is related with launching a very
different category of office furniture that is
ergonomic furniture. These kind of products
are generally difficult to be found in the
product list of suppliers. It offers a safe and
very comfortable working environment for the
office workers. The product helps in avoiding
different type of health issues which occurs
with the employees due to continuous sitting in
the office premises. It is capable of generating
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(max. 400 words) high demand among three categories of buyers
which includes Home Office, Small Office
Managers and Large Office Purchase
managers. It has been seen that there is high
demand for office furniture and that is because
number of companies and jobs are increasing
day by day. Any kind of business whether it is
small or big needs highly modernized
infrastructure for the office so that it can attract
the attention of the visitors. The people also
prefer to work in a company where the
working environment is pleasant and amusing.
Another important discovery from the
project is that economic factors create a very
high impact on the furniture industry. For this
report, it was required to scan the economic
conditions of the California. After doing some
knowledge and research work it was identified
that California’s economy is centered on
technology, finance, real estate service,
Government, professional, scientific and
technical business services. The economy is
well financially sounded. It is again very
significant from the new venture point of view.
Further it was identified that it is not
easy for the company to enter into a new
product segment. The American Furniture
industry is at its turning point and it has never
known for its ability to respond quickly to
change. Technology is having an impact on the
producers. Retailers are required to find a way
to meet the expectations of the new generation
of customers. Customer needs and expectations

are changing rapidly and companies are
required to react according to those needs.
Hence it could be difficult for the company to
achieve success in the market. It will require
lot of concentration and focus on the marketing
activities. There are many examples which
have shown failure in the business world. It
could be a lesson for many new start-ups and
businessmen. White Furniture will have to
adopt effective branding strategies in order to
fight with the increasing competition.
Barriers met
What were the main difficulties
and barriers which you were
faced with in:
(1) undertaking your research,
and
(2) completing your Major
project
(max. 400 words)
While conducting any activity or project, there
are several difficulties and limitations are faced
due to various constraints. Same has been
witnessed by me also while undertaking and
completing my major project. These have been
enumerated below
Limitation at the time of Undertaking
Research
One of the major limitations that been
faced while undertaking this research is
collection of actual data and facts. While
researching, it has been found that certain
database doesn’t give permission to access
information and due to this, huge amount of
crucial time gets wasted. In addition to it, the
concept of office ergonomics is very new in
the market and therefore sufficient amount of
information is not available. From this,
progress of the project gets hampered and this
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results to deviation from the time frame that
been set for completing the project.
Additionally, cost is another set of factor that
acts as a barrier for me to conduct this study.
To overcome this barrier, strategy of optimum
allocation of resource is adopted by me which
helped me in completing the research within
the budget. Apart from this, I lack in time
management strategy as well from which I am
not able to complete my task on time as I had
planned. This leads to discrepancy and whole
project get shifted from set time frame.
Limitation at the time of Completing Project
Another set of difficulties I faced at the
time of completing the project. At this stage, I
was having ample amount of data which need
to be present within the set word count limit
and this proves one of the toughest task.
Editing here consumed my lots of time as each
and every data were necessary to back up my
findings but it was not possible to
accommodate each in the report. Therefore, I
filtered the data based on level of information
from which I am able to prepare report of set
word count. Formatting and presentation of
report was another concern for me and to
address the same, I have taken help from my
friends who are good with MS Office. Through
this, set structured report is developed. In
addition to it, I found difficulties in bifurcating
whole content into chapter also as it has been
viewed that structure of report plays a crucial

role in communicating the findings from it.
Therefore, I took support from my mentor for
framing sections so that necessary information
can be reflected through it.
Your Professional Development
What are the most important
business and/or management
skill(s) or academic idea(s) or
lesson(s) which you have learnt
from undertaking your research
and your Major Project – and
why?
(400 words)
Every research project offers different
types of management skills, academic ideas
and lessons. From the following research
project following management and business
skilled have been obtained.
 Planning
 Time management
 Controlling
 Communication
 Decision making
 Diagnosing
 Leadership skills
 Innovation
 Motivation
 Patience
 Forecasting
The above skills mentioned skills will
contribute towards my professional
development. One of the most essential skill
which is to be learnt at the initial level of the
business is forecasting skills. In the corporate
world, the forecasting is required to be strong
and effective. It is evident that lot of things
relies on estimation. It has increased my
confidence and now I am able to do estimation
of numbers correctly. I also learned about
different types of time management skills.
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Now I can assign priorities and decide time
frame for my all the activities. It is important
to manage time because delay in one activity
can cause delay in other activities.
I also gained analytical skills. This
research report followed both qualitative as
well as quantitative approach. I performed
financial projections and estimations. All the
three financial statements that are balance
sheet, income statement and cash flow
statement were prepared. Different
assumptions were undertaken in order to
project the sales and revenues. All was done
after analysing the economic conditions of
California.
I also learn how to plan the work and
schedule of activities. Time was allotted to all
the activities and the target was to complete
those in the decided time frame. Planning is a
core function of management. It plays a very
important role in the corporate world. Without
planning it is not possible for the new business
to survive. Lack of planning can disturb the
functioning of the whole plan along with the
disturbance in the budget.
Further development of a business
development proposal is a challenging task. It
needs lot of concentration and focus on several
aspects. Thinking of a feasible idea is essential.
It need to be identified whether it will be able
to do justice or not. Completion of this
research required development of a good

operational plan. The operational plan includes
human resource management, marketing, use
of technology, business processes etc. It is
essential to develop a good business model so
that vision and mission can be achieved. All
the resources is to be utilized in optimum
manner. These resources include manpower,
funds, contacts, location, warehouse, tools,
equipment’s etc. These resources play an
important role in the functioning of the new
business.
Objectives
Based on your research and the
work which you have done in the
MBA Programme and its use in
your Major Project, what were
and how far have the objectives
of your major project been
achieved?
(max. 450 words)
The details of the following business
development proposal were as follows:
White Furniture is a furniture retailer
launching its new product segment called the
office furniture. The business is positioned in
California USA. Currently, it is involved in the
business of selling home furniture, wooden
furniture, door furniture, etc. The business is
regulated by two partners having equal share in
it. It is a small size firm looking for expansion
in cites of western US. The intention is to
increase the market share by introducing a new
range of products. Company will offer
Ergonomic furniture which can provide a
comfortable office working environment for
the people. There are certain objectives which
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have been laid for the new business:
 Key presence in USA and gain a
significant and considerable market
share in furniture industry.
 Expand the business into the new field
of office furniture.
 To provide excellent customer services
and maintain the customer loyalties
 Multiplying sales within next 2 years.
I believe that all the research objectives
have been achieved and this business plan has
the potential to come into action. The above
mentioned objectives are achievable if White
Furniture has the required resources, money,
manpower, contacts etc. First of all team work
is important, it is essential that all employees
try to contribute jointly and efficiently. All the
employees should share a common goals and it
will improve the results. Secondly internal
communication is required to be strong. A
good coordination is needed between various
departments. A common communication
platform is to be used so that sound decisions
can be made. Thirdly, business should focus on
costs improvement as they are in the early
stage of product launching. The expenses are
to be managed within the allocated budget
making sure that it does not exceeds.
Further the aim of the research was to
launch a product which is unique and which
can add value to the furniture business. Here
under this business development proposal,
White Furniture has launched a new category

of furniture which is ergonomic. This kind of
product has never been seen before within the
market. There is no high awareness about it
among the consumers, Hence it can be said
that the new venture has the potential to come
up with something new and unique for the
consumers.
There is a need to maintain a good
customer service. Immediate response is to be
made on inquiries and feedbacks given by the
customers. This will improve the level of
service and also facilitate growth for long
period.
Findings & outcomes
How useful and/or feasible are
the findings, recommendations,
conclusions, or outcomes of your
Major Project to you and/or to a
future Employer?
You must justify your answer
with specific examples.
(max. 450 words)
With the help of present report, furniture
industry will get a new product concept which
will aids in boosting the present sales of this
industry. Through this, company is able to
attain its objectives and hence can sustain for
longer. This product segment is feasible as
there are sudden increase in the health issues of
employees due to improper office ergonomics
and this number is keep on rising with the pass
of year. Due to this, attrition rate of employee
is increasing and hence developing a series
concern for global conglomerates also. With
the introduction of product segment that focus
on health issue, above stated concern can be
reduced up to great extent in coming future and
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