University Engineering Management Report: Business Plan Analysis

This report provides a comprehensive analysis of two engineering company business plans: Hamlin and Park Design, and Anywhere Remodeling. The report begins with an introduction to business plans and their components, followed by detailed descriptions of each company's business profile, vision, mission, goals, market research, operational strategy, products/services, marketing plan, and financial plan. The analysis then identifies the strongest and weakest components of each plan, compares and contrasts the two plans, and suggests improvements. The report also includes a discussion of demonstrated competencies and challenges faced during the analysis. Hamlin and Park Design focuses on increasing its customer base, while Anywhere Remodeling aims to increase revenue through sales and services. The report provides a detailed examination of their approaches, marketing strategies, and financial projections.

Running Head: ENGINEERING MANAGEMENT
Engineering Management
Name of the Student
Name of the University

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Table of Contents
1. Introduction..................................................................................................................................2
2. Business Plan Descriptions for Each Company...........................................................................3
2.1 Company A: Hamlin and Park Design..................................................................................3
2.1.1 Business Profile..............................................................................................................3
2.1.2 Vision, Mission and Goals..............................................................................................3
2.1.3 Market Research.............................................................................................................4
2.1.4 Operational Strategy.......................................................................................................5
2.1.5 Products / Services..........................................................................................................5
2.1.6 Marketing Plan................................................................................................................6
2.1.7 Financial Plan.................................................................................................................6
2.2 Company B: Anywhere Remodelling....................................................................................8
2.2.1 Business Profile..............................................................................................................8
2.2.2 Vision, Mission and Goals..............................................................................................9
2.2.3 Market Research.............................................................................................................9
2.2.4 Operational Strategy.......................................................................................................9
2.2.5 Products / Services..........................................................................................................9
2.2.6 Marketing Plan..............................................................................................................10
2.2.7 Financial Plan...............................................................................................................10
3. Strongest Components of Each Plan..........................................................................................11
4. Weakest Components of Each Plan...........................................................................................11
5. Comparison and Contrast between the Business Plans.............................................................12
6. Improvement of the Business Plans...........................................................................................12
7. Demonstrated Competencies.....................................................................................................13
8. Challenges Faced.......................................................................................................................13
References......................................................................................................................................14

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1. Introduction
Any business organisation constantly tries to thrive in a competitive market and in order
to ensure the same, the organisation updates its business plans in accordance with the changes in
the market (Charles Jr, Schmidheiny & Watts, 2017). The main focus of these business plans is
to allow the organisations to adapt with the market changes in order to remain competitive and
retain and growth their market shares. The components of the business plans include the
background of the business, company details, market analysis report, funding request, financial
projections and others. Each of these detailed business plan components is to be developed
through detailed process of data collection, analysis and evaluation and none of the components
should have any inaccurate data. The business case must be accurate as much as possible as it
acts as a roadmap for the development of business strategies for the business organisations.
The purpose of this report is to discuss the business plans of the two selected companies
working in the engineering domain in order to identify the strong and weak points from both as
well as suggesting recommendations for improving their business plans. The chosen companies
whose business cases will be analysed are Hamlin and Park Design and Anywhere Remodeling.
Both of these companies operate in engineering domain including interior and exterior property
design, residential remodelling and others. Both of their business cases are primarily focused on
the development and growth of the businesses including increasing the customer base along with
the annual revenue margin. However, the approaches of the two companies are different –
Hamlin wants to gain revenue by increasing the customer base whereas Anywhere Remodelling
wants to increase the revenue by increasing the sales and services even if the overall customer
base remains the same. All these relevant discussions and comparisons between the two
companies have been done in this report.
The report starts with the introductory discussion regarding the benefits and uses of a
business plan followed by the descriptions of the business plans for two engineering based
companies namely – Hamlin and Park Design and Anywhere Remodeling. After this discussion,
the strongest and weakest points of each plan have been identified along with comparison
between the two plans. Further, recommendations have been suggested for each of the business

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plans followed by self-reflection on demonstration of competency as well as challenges faced
during the study.
2. Business Plan Descriptions for Each Company
A business plan is defined as a document that includes various business related details of
a company including business profile, mission, vision, goals, revenue, target market, operations
and others (Hockerts, 2015). In this report, two companies have been selected – Hamlin and Park
Design and Anywhere Remodeling – whose business plans have been discussed and analysed in
detail in the following sections.
i. Business Profile
ii. Vision, Mission and Goals
iii. Market Research
iv. Operational Strategy
v. Products / Services
vi. Marketing Plan
vii. Financial Plan
2.1 Company A: Hamlin and Park Design
2.1.1 Business Profile
Hamlin and Park Design is an engineering company operating in the city of Claremont
and provides engineering designs and solutions for customers in interiors, exteriors, furnishings,
space planning and installation for their homes or office spaces. With ten years of experience in
designs, the owners of the company have established their business in the city owing to the
potential growth of population with the construction of new housing spaces and they expect to
grow their client base by 15% each year once their business is fully established (Quinlan, Babin,
Carr & Griffin, 2019). The company invests a significant amount of the marketing and
promotions in order to reach more new customers. The company relies on the growth of the
customer base for increasing the annual revenue generated. As per the estimations, it is expected
that the sales will further increase by 11% in the interior design market and it will a significant
opportunity for Hamlin to grow their business and increase their customer base.

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2.1.2 Vision, Mission and Goals
The vision, mission and goals of the company are listed as follows.
 The vision of the company is to gain customers by providing the best quality
services and design solutions for the new housing spaces that are fast growing in
the city.
 The mission of the company is to conduct open communication with the clients to
fit their ideas within their own design ideas so as to satisfy the customers’
requirements.
 The goal of the company is to increase the customer base by 15% annually.
From the mission, vision and goal statements of the company, it is clear that the company
wants to gain more customers to boost their sales and business growth. As a result, the company
has targeted customer specific services that attract more customers over other rival organisations.
In addition to the customised services provided by the company to the customers, the company
also wants to implement open communication channel so that the customers can communicate
with the company customer care service (Aithal, 2017). Due to this facility, all types of
customers, old and new, will be able to interact more with the company including general
queries, service related queries, customised designs, service requirements and others. The
company aims to increase the customers’ morale and happiness and is also willing to use the
existing customers as referral channels for inviting more customers.
2.1.3 Market Research
The city where the company operates is growing at a fast pace with new housing spaces
being constantly built and as a result, the company expects to grow its market share with high
quality services and solutions for the customers. The company also expects to include the inputs
of their customers within their designs so as to provide a more customised experience for the
customers. However, the market is not really favourable for the company as there is strict
competition between various companies operating in the same domain (Leppäaho, Plakoyiannaki
& Dimitratos, 2016). As a result, even if the market grows due to increased sales opportunities,
Hamlin will have to conduct detailed promotions and marketing in addition to providing best
quality services in order to ensure it gains a major share of the sales growth for a financial year
in the area of operations. In spite of the strict competition in the market as mentioned, the market

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also provides certain opportunities for the organisation. The market is very much favourable
towards the organisations that care about the customers’ opinions and provide customised
services to the customers. The customers also prefer these organisations and in the operational
region of Hamlin, there are opportunities of rapid growth of customer base due to the building of
various new residential buildings in the locality. Hamlin needs to take this opportunity to grow
its customer base and earn a sustainable growth in the annual revenue.
2.1.4 Operational Strategy
The main operational strategy that is currently followed by Hamlin is to increase
customer base by attracting more customers with prompt customer services, customised services
that are entirely focused on the requirements and preferences of the customers and using the
existing customers as referral channels such that they will refer their friends and family members
to contact the company for services (Doherty, Meehan & Richards, 2015). The company wants
to utilise the growth of the customer base as the main factor behind the growth of the revenue
generated annually and expects 15% increase of revenue in the next financial year. However, the
company does not focus on the sustainability aspect i.e. there is no specific operational plan for
the company regarding the retention of the existing customers. Although the company provides
good quality services and customer retention is never really a major issue, at one point of time,
due to various factors like reduction in the quality of the services or growth of one or more rival
organisations, customer retention may become very difficult and without suitable plan, the
company will lose customers faster than it gains them from their marketing strategies.
2.1.5 Products / Services
The company is an engineering service based organisation – it provides services for
design of properties and others as follows.
Project Survey and Analysis
Design Concepts
On-Site Consultations
Space Planning and Furniture Arrangement
Custom Designs
Finishes and Furnishings
Project Coordination and Management

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Purchasing, Delivery and Installation
For most of these services, customers’ requirements and preferred designs are taken into
account along with the company’s own designs i.e. the customer demands and requirements are
provided more preference than selling the company’s own designs.
2.1.6 Marketing Plan
Considering the changes in the market and growth of the rival organisations, some
updates to the existing marketing plan of the company needs to be done so as to develop
sustainability and maintain growth in the market. The company already has an extensive
marketing network that conducts marketing for the services of the company through digital and
social media for gathering new customers for increasing the overall customer base (Burns &
Dewhurst, 2016). However, the company should also focus on retaining the existing customers
and develop marketing strategies for attracting the existing customers so that they return to the
company for future work requirements. These marketing strategies can include loyalty bonus,
special discounts and bonus services for staying as loyal customers of the company.
2.1.7 Financial Plan
In addition to the implementation of the new marketing and operational plan, it is also
important to develop a financial plan that will include various expenses like service costs, wages,
marketing costs and others. This financial plan must be accurate as much as possible since based
on this, the yearly budget of the company is set (Brijs, 2016). Moreover, while developing the
financial plan, it is to be ensured that the expenses are minimised in order to maximise the profit
margin at the end of the year.
Now for the financial plan, the company management has made two major assumptions.
 The economy of the state will remain strong without any major and significant
recession.
 There will not be any major changes in economy that can disrupt all the estimated
values of the company.
The general assumptions made by the company for the next three financial years are as
follows.

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Figure 1: Financial Assumptions Made by Hamlin
(Source: Hamlin and Park Design Business Case)
The company also conducted a break-even analysis and they found that the approximate
break-even point is $14,800. The breakeven analysis as per conducted by the company is as
follows.

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Figure 2: Breakeven Analysis
(Source: Hamlin and Park Design Business Case)
Finally, the projected profit and loss margin as estimated by the company for the next
financial year is as follows.
Figure 3: Profit Margin Estimation
(Source: Hamlin and Park Design Business Case)
2.2 Company B: Anywhere Remodelling
2.2.1 Business Profile
Anywhere Remodeling is a company that provides building redesign and construction
services for the local high end clients. The company aims to add value to the target market
segment along with focus step by step growth in terms of sales, revenue and profitability.
Starting from a basic remodelling service, the company has come a long way to being an
organisation belonging to the engineering industry using engineering tools, skills and expertise
as well as engineering modelling software.

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2.2.2 Vision, Mission and Goals
The main vision of the company is to increase the business such that the annual revenue
grows to $2 million within the next 5 financial years. The mission of the company is to build
dream customised homes for the customers. Finally, the goal of the company is to improve the
net profitability to 12% at the end of the 5th fiscal year.
2.2.3 Market Research
The company has selected the market segment that allows long term sustainable growth
rather than short term. The company also invests a certain amount of the profit margin in
building strong relationship with the customers so that the sales increase every year even if the
customer base does not increase significantly.
2.2.4 Operational Strategy
Anywhere Remodelling focuses on quality rather than quantity to keep hold of the
customers. Within reasonable pricing strategy, the company aims to provide high quality services
that suit the needs of the customers. For marketing purposes, the company tries to improve its
brand image and eliminate competitors with favourable pricing strategy as well as by providing
high quality services to the customers (Runfola, Perna, Baraldi & Gregori, 2017). Moreover, the
company also tries to maintain a loyal customer base by directly interacting with them on regular
basis and solving their queries in addition to providing high quality services.
2.2.5 Products / Services
The company provides one-on-one remodelling services to the customers that include the
following.
 Wing Remodelling
 Whole House Remodelling
 Single Room Remodelling
 Historic Home Remodelling
 Bath Remodelling
 Kitchen Remodelling
 Handyman Services
 Green Remodelling

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2.2.6 Marketing Plan
The marketing plan of the company is based on three specific strategies of the company –
high quality services, prompt customer services and retain the customers for as long as possible.
The company relies on high quality services for their own promotion i.e. they believe that if the
quality of services are extremely high, the customers will act as marketing partners and will help
in increasing the overall reputation (Grace & Cohen, 2015). Secondly, as mentioned by the
company, customers are like their family and hence, the customers are treated with a lot of care.
Finally, the company takes great care of its customers so as to prolong their business relationship
and ensure maintaining a loyal customer base.
2.2.7 Financial Plan
While providing high quality services to the customers, the company also aims to collect
the revenue on time and ensure all customers make their payments in time. Furthermore, the
company also aims to bring the gross margin up to 35% for improving marketing program and
generating higher quality leads and jobs. The breakeven analysis as conducted by the company is
shown as follows.
Figure 4: Breakeven Analysis
(Source: Anywhere Remodelling Business Case)

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In addition, the estimated profit margin for the next fiscal year of the company is
estimated as shown below.
Figure 5: Profit Margin Estimation
(Source: Anywhere Remodelling Business Case)
3. Strongest Components of Each Plan
The strongest component of the plan for Hamlin and Park Design is the operational
strategy, as it shows detailed operational roadmap that Hamlin aims to follow in the upcoming
years.
The strongest component of the plan for Anywhere Remodeling is marketing plan. This is
because the company has a very clear idea about what it wants to achieve through marketing and
has set out a clear roadmap and set of strategies that it wants to follow in the upcoming years.
4. Weakest Components of Each Plan
The weakest component of the plan for Hamlin and Park Design is mission, vision and
goals. These statements of the company seems very much generic in nature and there is no

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clarification on how they will achieve these targets. Moreover, the targets and goals seem to be a
bit unrealistic considering the industry in which it operates and the risky operational plan that it
tends to follow.
The weakest component of the plan for Anywhere Remodeling is operational plan. The
operational plan developed by the company seems a bit weak for an organisation that aims to
earn $2m profit in a fiscal year. There is no proper strategy that will ensure the company will
continue sustainable growth in the market.
5. Comparison and Contrast between the Business Plans
The two business plans are significantly different from each other considering the
different operational strategies for the two companies. The first company focuses on increasing
customer base for growth in the market whereas the second company focuses on increasing sales
for improving the profit margin. The two companies operate with different strategies from each
other and hence, their business plans are considerably different. Hamlin aims to increase the
customer base by attracting more customers with prompt customer services, customised services
that are entirely focused on the requirements and preferences of the customers and using the
existing customers as referral channels such that they will refer their friends and family members
to contact the company for services. On the other hand, Anywhere Remodelling aims to provide
high quality services at reasonable prices that suit the needs of the customers. For marketing
purposes, the company tries to improve its brand image and eliminate competitors with
favourable pricing strategy as well as by providing high quality services to the customers.
6. Improvement of the Business Plans
The business plans can be improved by the following.
 Focussing more on the current operational failures and issues as well as gaps
(Panwar, Nybakk, Hansen & Pinkse, 2017)
 Shifting focus to earn more customers rather than just estimating proper growth
(Hockerts, 2015)
 More emphasis on financial changes in market using data analytics (Schaltegger
& Wagner, 2017)

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7. Demonstrated Competencies
While working on this module, I demonstrated strong competency in analysing business
cases and evaluating the strengths and weaknesses in each of them. I also showed significant
skill in comparing two different business cases and determine how the two business cases are
different from each other. I used my analytic skills to analyse various aspects of the business
case like operational strategy, marketing strategy and others so as to identify how various
business organisations operate in a competitive market environment.
8. Challenges Faced
For this assignment, I faced a number of significant challenges that are listed as follows.
I was able to gather limited information regarding the business plan details of the
organisations as their only sources of information were a website.
Since the research was needed to be done in the academic environment, I had
access to limited amount of resources. Hence, I needed to complete my research
within these resource limitations and I had to restrict my study considerably.
I faced some challenges in studying the market in which the companies are
operating because of limited information and insight from researchers. Within the
engineering domain, design and modelling is the field, which is much less
explored by researchers creating large research gap in the same.

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References
Aithal, P. S. (2017). An Effective Method of Developing Business Case Studies based on
Company Analysis. International Journal of Engineering Research and Modern
Education (IJERME), ISSN (Online), 2455-4200.
Brijs, B. (2016). Business analysis for business intelligence. Auerbach Publications.
Burns, P., & Dewhurst, J. (Eds.). (2016). Small business and entrepreneurship. Macmillan
International Higher Education.
Charles Jr, O. H., Schmidheiny, S., & Watts, P. (2017). Walking the talk: The business case for
sustainable development. Routledge.
Doherty, B., Meehan, J., & Richards, A. (2015). The business case and barriers for responsible
management education in business schools. Journal of Management Development, 34(1),
34-60.
Grace, D., & Cohen, S. (2015). Business ethics.
Hockerts, K. (2015). A cognitive perspective on the business case for corporate
sustainability. Business Strategy and the Environment, 24(2), 102-122.
Leppäaho, T., Plakoyiannaki, E., & Dimitratos, P. (2016). The case study in family business: An
analysis of current research practices and recommendations. Family Business
Review, 29(2), 159-173.
Panwar, R., Nybakk, E., Hansen, E., & Pinkse, J. (2017). Does the business case matter? The
effect of a perceived business case on small firms’ social engagement. Journal of
Business Ethics, 144(3), 597-608.
Quinlan, C., Babin, B., Carr, J., & Griffin, M. (2019). Business research methods. South Western
Cengage.

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Runfola, A., Perna, A., Baraldi, E., & Gregori, G. L. (2017). The use of qualitative case studies
in top business and management journals: A quantitative analysis of recent
patterns. European Management Journal, 35(1), 116-127.
Schaltegger, S., & Wagner, M. (2017). Managing and measuring the business case for
sustainability: Capturing the relationship between sustainability performance, business
competitiveness and economic performance. In Managing the business case for
sustainability (pp. 1-27). Routledge.