Business Management Report: Protein Water Project Analysis and Plan

This report provides a comprehensive analysis of a business management project centered around the production and launch of a new health drink, Protein Water, for the global market. It begins with an introduction to the core concepts of business management, including marketing, finance, and decision-making. The rationale for the project is presented, highlighting the changing consumer preferences in the food and beverage industry. The report then delves into various business functions such as operations, finance, and marketing, detailing their significance in the project's success. A detailed project plan is outlined, including timelines, resource allocation, manufacturing processes, and a comprehensive budget. Furthermore, the report analyzes the potential return on investment (ROI) to assess the financial viability of the project. Project management tools like task management, Gantt charts, critical path analysis, and work breakdown structures are employed to illustrate project organization and scheduling. The second part of the report includes a personal reflection on skill development, focusing on communication, numeracy, and ICT skills, along with an assessment of current skill levels and plans for improvement. The report concludes with a summary of the project's key findings and implications.

FOUNDATION OF
BUSINESS MANAGEMENT

TABLE OF CONTENTS
PART 1............................................................................................................................................3
INTRODUCTION...........................................................................................................................3
BUSINESS FUNCTIONS...............................................................................................................3
Rationale......................................................................................................................................3
Understanding of business functions...........................................................................................4
Project Plan and Budget...............................................................................................................4
Return on Investment...................................................................................................................6
PROJECT MANAGEMENT TOOLS.............................................................................................6
Task management and scheduling...............................................................................................7
Gantt chart...................................................................................................................................8
Critical path.................................................................................................................................8
Work breakdown structure..........................................................................................................9
CONCLUSION................................................................................................................................9
PART 2..........................................................................................................................................10
Personal Reflection stating Skill development..............................................................................10
Communication..........................................................................................................................10
Numeracy...................................................................................................................................10
ICT.............................................................................................................................................11
Problem-solving.........................................................................................................................12
Working with Others.................................................................................................................12
REFERENCES..............................................................................................................................13

PART 1
INTRODUCTION
Foundations of business management refer to a comprehensive understanding of the key
disciplines of management that is which includes marketing, decision-making, finance, and other
fundamentals of management. Business functions are the activities and functions that are carried
out by a corporation and consists of core and support functions. The core activities yield income
and revenue by production of final goods and services. Project management is used for leading
the core functions in a team for attainment of objectives and goals of the business in order to
meet certain criteria in a specific period of time (de Melo and et.al., 2020). This individual report
focusses upon the core business project of production of a newly developed health drink: Protein
Water for the global market and application of project management techniques for the project.
The rationale for selection of the project topic will be elaborated, along with business functions
like finance, decision-making, organisational behaviour and marketing along with a detail of the
project plan and budget for the project. The benefits for the company will be illustrated by an
analysis of potential return on investment. The project management tools have been explained
using techniques like task management and scheduling, creation of project milestones,
developing a Gantt chart and assessment of critical path along with creating a work breakdown
structure.
BUSINESS FUNCTIONS
Rationale
The major reason for going forward with the project of producing a newly developed
health drink i.e., Protein Water is the changing trends in consumer behaviour in context to food
and beverage industry. the tastes, preferences, behaviour, needs and demands. The target
customers, are the health-conscious people and people who go for heavy workouts in gyms.
There is an immediate need for protein after the muscles get tired. Protein water fulfils that
immediate need as it is infused with whey protein isolate and helps in the growth of lean muscle
mass. Protein water is also needed when a person undergoes specific forms of diet such as low
carb high protein, intermittent fasting, ketogenic diet or paleo diet. The development of this
health drink would undertake an extensive manufacturing process in a specific facility and
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involves business functions like financing, budgeting, project planning, decision-making,
marketing etc (Alghannam and et.al., 2020).
Understanding of business functions
Operations: Operations management refers to the function of management of processes
for the manufacturing of the health drink and it consists of planning, organising, coordinating
and evaluating the resources that are needed for the development of the project. It encompasses
management of technology, people, equipment and aims to convert the raw materials into output
(Gaspar and et.al., 2016).
Finance: Financing consists of major decisions like investment and funding sources, long
term loans, share capital, internal funds and working capital, leasing assets and capital budgeting
decisions that have to be taken for the production of the health drink. The aim is to create
revenue, save costs and make profits. The major financial decision that have to be taken are
sources to be considered for raising funds that is equity and borrowings. Other contingency plans
have to be made for the financing of the whole project. The financial resources have to gathered
from long term borrowings and investors.
Marketing: Marketing includes the primary marketing research done and the initiation of
product development process based on the market analysis and research. A marketing plan has to
be followed for the promotions and advertising oof the product once ready and distribution for
sale, public relations and customer service has to be elaborated (Niazi, Mahmood and Alshayeb,
2020).
Project Plan and Budget
Project planning is the foundation of the project of developing a health drink for global
market and is the heart of the project life cycle. It involves documentations of the plans of the
project, deliverables and requirement definition, and scheduling the project.
Time scale of the project: The total duration estimated for the production of the health drink:
protein water will 1 year.
Resource plans: The plans for attaining appropriate human, financial, tangible resources is to be
evaluated. The processing would involve mechanised and automated operations and would
employ blue-collared and semi-skilled workforce. The common jobs in the production facility
would include filling of machine operator, packaging, fork-lift operators, manual as well as
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mechanic labour will be needed. The training will happen on the job with detailed instructions
and onsite work. The major hires in the operational department would include industrial
engineers, production managers, food safety technicians and quality assurance mangers. In the
finance department cost and financial accountants and business analysts will be needed. The
procurement of the industrial requirements will be done through trustworthy vendors and
subcontracting basis. Risk assessment has to be done by making contingency plans for each
department of the project and devising mitigation strategies (Lock, 2020).
Manufacturing process:
Budget for the project:
Expenses Incurred
Infrastructure expenditure £ 800,000
Equipment & Electronics £ 300,000
Power and electricity £30,000
Raw material and ingredients £25,000
Legal expenses (patent, licensing, insurance) £ 5,000
Marketing expenditure £ 20,000
Packaging, Distribution and Sale £15,000
Compensation for employees £55,000
Operational Expenses £60,000
Miscellaneous £ 10,000
Total expenses £ 1,320,000
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Total Funds Available
Cash and cash equivalents £ 45,000
Total current Assets £ 1,000,000
Total Assets £ 1,045,000
Return on Investment
Return on investment is the measurement of performance to assess the efficiency of the
investment made. It assesses the relativity of the cost that is being put for the project of
production of the health drink to what return in terms of profit it would potentially give. For
calculation of the potential return on investment, the following ratio will be used.
Net return on investment
ROI = ____________________ X 100 = (400,000/1320000) * 100 = 30.3%
Cost of the investment
The estimated net return on investment is calculated assuming that market conditions
remain stable and the marketing is implemented effectively. The estimated sales across the globe
for the Protein Water would generate a nett return on investment of 400,000. Assuming that the
break event point will be met in the first year, the calculated ROI would be approximately 30%
for the first three years, which is fairly positive (Opperman and et.al., 2016).
PROJECT MANAGEMENT TOOLS
Project management tools are used for defining the various features and elements that
have to be undertaken in order to complete the projects. These include planning and scheduling
of activities using task management and scheduling techniques, preparation of short and long-
term phases, milestones and objectives, relevant resources employed for the tasks and the time
period that is required for the completion (Wang, Ren and Liu, 2017). They help in tracking thee
process, display the features, help in documentation and storage, used in collaboration for
assigning the tasks, organising dashboards and templates, calendars and workflows. The
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monitoring and evaluation of the whole project can be done using the project management tools.
Examples are Gantt charts, setting project milestones, task scheduling, work breakdown structure
which have been used below (Desmond, 2017).
Task management and scheduling
WBS
Number
Task name / Title Planned start
date
Planned end
date
Progre
ss (%)
Durati
on
(hours)
1 Initiation 01-01-21 26-02-21 5 123
1.1 Business Analysis & Market
research
01-01-21 26-02-21 8 123
1.2 Feasibility Analysis 01-02-21 26-02-21 0 60
2 Planning 01-02-21 26-03-21 6 120
2.1 Finance and Budgeting 01-02-21 12-02-21 43 30
2.2 Marketing plan 01-02-21 26-02-21 0 60
2.3 Operational planning 01-03-21 26-03-21 0 60
2.4 Industry set up 01-03-21 26-03-21 0 60
3 Implementation 05-04-21 29-10-21 0 450
3.1 Installing and upgrading
equipment
05-04-21 31-05-21 0 123
3.2 Procurement of Raw materials 19-04-21 30-06-21 0 159
3.3 Manufacturing and Packaging 26-04-21 30-07-21 0 210
3.4 Quality assessment 02-08-21 13-08-21 0 30
3.5 Promotions and advertisements 01-07-21 30-09-21 0 198
3.6 Distribution and Sale 01-09-21 29-10-21 0 129
4 Monitoring & Evaluation 01-10-21 31-12-21 19 198
4.1 Benchmarking 01-10-21 15-11-21 45 96
4.2 Performance metrics and
analysis
01-11-21 31-12-21 0 135
5 Closure 01-12-21 31-12-21 0 69
5.1 Customer Feedback 01-12-21 31-12-21 0 69
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Gantt chart
Critical path
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Work breakdown structure
CONCLUSION
From the above individual report, it was concluded that the project management is
critically dependent on the understanding of the relevant business functions and efficient use of
project management tool. The rationale for the project was outlined as the changing consumer
behaviour and need of healthy food and beverage choices. The primary business functions of
fiancé, marketing and operations were described in brief. The project plan was outlined with
timescale, resource plan, manufacturing process and budget for the project along with analysis of
potential return on investment. The project management tools were applied for establishing the
tasks, sub-tasks and schedule for the project. The major tasks for the project were initiation,
planning, implementation, monitoring & control and closure with sub tasks for development of
the protein water drink in a period of 1 year from January to December. A gnat chart was
prepared along with critical path and work breakdown structure.
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Development of health drink:
protein Water- for global markets
Initiation Planning Implementation Monitoring Closure
Business Analysis &
Market research
Feasibility
Analysis
Finance and
Budgeting
Marketing plan
Operational
planning
Installing and
upgrading
equipment
Procurement of
Raw materials
Manufacturing and
Packaging
Quality assessment
Benchmarking
Performance
metrics and
analysis
Customer
Feedback
Industry set up
Promotions and
advertisements
Distribution and Sale

PART 2
Personal Reflection stating Skill development
The personal refection is aimed at demonstrating the key skills and knowledge that has
been used and developed by me in the process of creation of the project. The skills will be
assessed from four aspects that are significance of the skill and employability, the present level
of skill with evidences, the need for improvement and the actions that can be used for
improvement.
Communication
Communication skills can be defined as those skills which are used for the transmission
and sharing of information through the use of methods like verbal methods, written methods,
visually or non-verbally. I have developed my communication skills effectively since the
beginning of semester one through active participation in classroom discussions, group
presentations and team work. I have aimed at improving my verbal communication by engaging
in active reading, speaking and listening in order to improve this academic skill. I have engaged
in numerous projects and writing assignments where I aimed at successful written language
improvement. I have also engaged in reading various online articles, scholarly journals for the
report writing purpose which has successfully improved my reading and comprehension abilities.
This is also a generic skill which is most important when it comes to employability as most jobs
ask for a strong hold on communication. Therefore, I have to focus more upon formal and
professional level improvement in the skill (Mishra and Mishra, 2020). I would score my present
level of this skill as moderate. In order to improve my communication skills on a professional
level, I have to improve my language and vocabulary for speaking and writing effective and
grammatically correct sentences without error. I have to engaged in a regular habit of healthy
conversations, improve listening skills, participate in language and debate clubs and undertake
newspaper and article reading from various subject areas on a daily basis.
Numeracy
Numeracy skills enable me to effectively use, interpret and communicate mathematical
data and information in order to solve problems of academic nature. I have continuously aimed at
developing by calculation skills, basic knowledge of numbers, interpretation of information
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produced in statistical and numeral formats. I understand basic accounting formulae and apply it
effectively in my project reports. For example, I have clearly explained the concept of return on
investment and budget for the project of developing a healthy drink for global markets. The
demand for numeracy skills like data analysis and presentation is very important in
employability and as statistics is a part of business. Data analysis is used along with basic
software like Microsoft Excel and data visualisation is required when the statistical information
has to assessed and solved. I would rate this skill level as moderate. The actions that I can take to
improve these skills are participating in analysis-based projects, practicing analytical skills on a
regular basis by solving data interpretation problems, learning about analytical tools and taking
up open courses online for statistics, data analysis and query languages like SQL and R which
are in high demand (Silberman and et.al., 2020).
ICT
ICT refers to information and communication technology skills and define the ability to
use digital devices and software effectively to carry out tasks and projects (Ahmadi and et.al.,
2018). I have focussed on development of IT skills through usage of existing technology in my
academic work most optimally. My work deal with ICT skills on a daily basis such as
communicating through emails, using a mobile or personal computer to using advanced software
like Microsoft Excel, MS PowerPoint, Adobe, Ms word and MS projects. I have successfully
prepared all requirement of this project for development of a health drink for global market by
employing various project management tools like Ms excel and Ms project Software for
preparation of Gantt charts and critical paths. This skill is highly significant when it comes to
employability as business work in multiple sectors use dynamic technological and adaptability to
changing ICT is necessary. It is mode of support and optimised delivery of information and
directly linked to learning and using efficient methods for multiple tasks. I would rate my present
level of this skill as high, although I need to continuously improve with changing technology. I
can do this by familiarising myself with various software and the technology that is in high
demand. I have to make myself more adaptable to working across various operating systems and
software with ease and increase my exposure.
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Problem-solving
Problem solving is the ability to handle unexpected situations and challenges. Currently,
problem solving skills are highly valued by employers. The need for people with good
observation, analytical mind who can remain calm in tough situations and evaluate positive and
negative aspects before arriving at an effective solution for an existing problem is high. I am
developed my problem-solving skills such as analysis, creativity, research, decision-making in
the course of preparation of this report. I have successfully analysed the problems of
implementation of the project management tools, devising a critical path for achieving the targets
of the project in a specific period. I have also analysed the work breakdown structure in this
project report and implemented the project plan successfully. I would rate this kill level as
moderate. The actions that I need to take to further develop my problem-solving skills are to
carefully identify the problem through effective observation, analysing the problem by
evaluating the impact that the problem is having, generating solution by of positive and negative
aspects and generating solutions. Decision-making is an important part of the process long with
effective implementation of solution (Cukurova, Luckin and Baines, 2018).
Working with Others
Team work is an important skill when it comes to working, collaborating and
coordinating various activities within a group or a team. It is highly significant in professional
workplaces and is a key generic skill needed in employability (Tripathy, 2020). Team work
involves various aspects like communication, empathy, time management, collaboration,
listening, problem solving, leadership and management. I have frequently participated in group
projects and presentations in this semester and I was an effective listener while working in the
teams and kept my team motivated by being a quick problem solver. Whenever there was a
conflict or disagreement, I initiated calm solutions to reach our goal without disrupting team
spirit. Overall, it’s about respecting team members and showing gratitude and accepting the
differences at the same time. I would rate this skill as moderate and for further improvement as I
have to be better in communication and leadership roles by stating rules and reducing chances of
conflicts.
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REFERENCES
Books and Journals
Ahmadi, A., and et.al., 2018. High-performance, knowledge sharing and ICT skills. Human
Systems Management, 37(3), pp.271-280.
Alghannam, A.F., and et.al., 2020. Effect of carbohydrate–protein supplementation on endurance
training adaptations. European Journal of Applied Physiology, pp.1-15.
Cukurova, M., Luckin, R. and Baines, E., 2018. The significance of context for the emergence
and implementation of research evidence: the case of collaborative problem-
solving. Oxford Review of Education, 44(3), pp.322-337.
de Melo, J.C.F., and et.al., 2020. From open innovation projects to open innovation project
management capabilities: A process-based approach. International Journal of Project
Management, 38(5), pp.278-290.
Desmond, C., 2017. Project management tools-software tools. IEEE Engineering Management
Review, 45(4), pp.24-25.
Gaspar, J., and et.al., 2016. Introduction to global business: Understanding the international
environment & global business functions. Nelson Education.
Lock, D., 2020. Project management. Routledge.
Mishra, S.K. and Mishra, P., 2020. Functional Aspects of Communication Skills for Professional
Empowerment. Journal of English Language and Literature (JOELL), 7(1), pp.79-85.
Niazi, M., Mahmood, S. and Alshayeb, M., 2020. GLOB: A global project management
readiness framework. Journal of Software: Evolution and Process, p.e2302.
Opperman, C., and et.al., 2016. Measuring return on investment for professional development
activities: Implications for practice. Journal for nurses in professional
development, 32(4), pp.176-184.
Silberman, D., and et.al., 2020. The impact of team-based learning on the critical thinking skills
of pharmacy students. Currents in Pharmacy Teaching and Learning.
Tripathy, M., 2020. Significance of Soft Skills in Career Development. In Career Development
and Job Satisfaction. IntechOpen.
Wang, X., Ren, A. and Liu, X., 2017, August. Researching on quantitative project management
plan and implementation method. In AIP Conference Proceedings (Vol. 1864, No. 1, p.
020176). AIP Publishing LLC.
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