University Business Plan Report: Bong Track Stainless Steel Venture

This report details a business plan for a new venture, Bong Track Stainless Steel, focusing on the production and sale of raw stainless steel to other businesses. The plan includes market analysis, identifying the potential for growth and profitability in the stainless steel industry. The business model involves sourcing steel, melting it, and selling it to other companies for manufacturing. The report emphasizes the need for significant initial investment, strategic alliances, and adherence to corporate governance. It highlights the low threat of new substitutes and the potential for creating a core competency through high-quality products. The conclusion underscores the importance of effective strategies for the successful launch and operation of the business.

RUNNING HEAD: Incorporating new busienss
1
Name of the student
Topic- Setting up new business
University Name-

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Introduction
This report reflects the key understanding on the busienss plan which will be started
up to grab the potential growth of the market. The new busienss plan would be to sale
stainless steel in market.
This stainless steel will be directly sold to the other busienss organization for their
further business processing. The main busienss function would be to melt the stainless steel
in raw shape so that other busienss organizations could use the stainless steel for the further
production of their desired goods (Salman, et al. 2016). The name of the business or trade
mark would be Bong Track stainless steel. The main product of Bong Track stainless steel
would be to melt the stainless steel in raw shape and offer the same to business clients for
their further busienss production. Bong Track stainless steel will work as private limited
company due to the requirement of high capital investment. Company needs to undertake
various strategic alliances with other organizations to run its business effectively. Bong Track
stainless steel needs to comply with all the applicable rules and corporate governance. The
business functions steps will start from digging steel from the iron mines and then it will be
further undertaken for the melting procedure. After that, melted stainless steel will be sold to
other business organization for their further production. These ending steps may require
proper strategic alliance in busienss to business market (Lassen, 2015). The main reason of
choosing this new product is based on the available market potential and busienss growth.
This market growth potential reflects that stainless steel busienss could also be forward
integrated to diversified busienss. The main target market would be to focus on the big
companies who directly purchase stainless steels in their manufacturing process. Bong Track
stainless steel needs to use cyber computing system or strategic alliance with other
organizations to make this possible (Salman, et al. 2016).
It is analysed that in order to set up new busienss of Bong Track stainless steel, the
first step would be arranging finance and investing more money in its research and
development department. It will assist in digging up more stainless steel from the mines in
effective manner. The main reason to start up this Bong Track stainless steel busienss is
based on its immeasurable growth and high amount of profit.

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The threat of new substitutes of this business is also very low due to its high fixed
investment. Therefore, it could be inferred that starting up new stainless steel busienss would
requires high investment but also reveals low threat of new entrants. This will assist company
to create core competency in market by offering its high quality stainless steels in market
(Ahadiat, and Hefzi, 2017).
Conclusion
This is the newly developed busienss which offers high amount of growth and profit.
Therefore, proper strategies should be implemented to run the new busienss effectively.

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References
Ahadiat, N. and Hefzi, H., 2017. The Story of a Business Formation and its Failure.
Lassen, M., 2015. DESMI lifts green ship business case. World Pumps, 2015(12), pp.16-18.
Salman, M., Dubois, M., Maria, A.D., Acker, K. and Balen, K., 2016. Construction materials
from stainless steel slags: technical aspects, environmental benefits, and economic
opportunities. Journal of Industrial Ecology, 20(4), pp.854-866
Salman, M., Dubois, M., Maria, A.D., Acker, K. and Balen, K., 2016. Construction materials
from stainless steel slags: technical aspects, environmental benefits, and economic
opportunities. Journal of Industrial Ecology, 20(4), pp.854-866