Summer Shoe Product Launch: A Business Project Report

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MANAGING A SUCCESSFUL
BUSINESS PROJECT
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Contents
INTRODUCTION........................................................................................................................4
LO1........................................................................................................................................... 5
PROJECT AIMS AND OBJECTIVES..........................................................................................5
AIM...................................................................................................................................5
OBJECTIVES.......................................................................................................................5
QUESTIONS.......................................................................................................................5
PROJECT MANAGEMENT PLAN.............................................................................................6
SCOPE............................................................................................................................... 6
TIME SCALE.......................................................................................................................6
COST................................................................................................................................. 7
QUALITY MANAGEMENT..................................................................................................7
COMMUNICATION PLAN..................................................................................................7
RISKS.................................................................................................................................8
RESOURCES...................................................................................................................... 8
WORK BREAKDOWN STRUCTURE.........................................................................................9
GANTT CHART.................................................................................................................... 10
LO2......................................................................................................................................... 11
SMALL SCALE RESEARCH.................................................................................................... 11
LITERATURE REVIEW...................................................................................................... 11
METHODS OF RESEARCH AND DATA COLLECTION.........................................................12
RELIABILITY AND VALIDITY OF THE RESEARCH...............................................................12
RESEARCH FINDINGS AND DATA ANALYSIS....................................................................13
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ANALYSING QUANTITATIVE DATA..................................................................................14
LO3......................................................................................................................................... 24
LO4......................................................................................................................................... 34
PERFORMANCE REVIEW.....................................................................................................34
PERFORMANCE REVIEW.........................................................................................................39
REFERENCES........................................................................................................................... 41
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INTRODUCTION
Globalization aims at the integration of the economy by creating new opportunities for the
development of a country and giving new challenges to the businesses that help in growing
the operations of the business all over the world (Mikalauskiene et al. 2016). Being a
product design manager, the following research project is conducted to test a newly created
product that is summer shoes and give tough competition to the well-known brands in the
market and launch an event or selling the product to representatives or industry agents
during the London Fashion Week. The aims and objective of the plan would be determined
and a management plan would be produced using work breakdown structure and Gantt
chart and an analysis of the market would be conducted in the form of quantitative and
qualitative research to understand the needs and preferences of the target population.
Lastly, a performance review will be undertaken to assess the performance and progress of
the report.
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LO1
PROJECT AIMS AND OBJECTIVES
AIM
The main aim of the project is to develop and launch a new and competitive product in the
market and sell it to the representatives during the London Fashion Week to boost the sales
and revenues.
OBJECTIVES
 To launch good quality shoes till the end week of September 2019
 To increase the satisfaction of the customers and boost the sales and revenues
 To provide high-quality products at reasonable prices
 To enhance brand awareness by using various promotional tools
QUESTIONS
 How will the effectiveness of the product quality be ensured?
 What can be done to enhance the satisfaction of consumers?
 How will the company manage to increase the sales and revenues from the product?
Therefore, the project aims at conducting research, producing the plan and taking actions
that result in achieving the above-mentioned objectives.
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PROJECT MANAGEMENT PLAN
An effective plan needs to be prepared for the management of the project that helps in
achieving the desired aims and objectives of undertaking the project. With the help of an
effective project plan, all the activities of the business related to the development and the
launch of the new shoes can be executed efficiently and the results can be obtained as
planned (Meredith et al. 2017).
The aspects that need to be considered in the project management plan are as follows:
SCOPE
The following research project would help in understanding the needs and preferences of
the customers and analysing the effectiveness of the newly launched product by the
company. The research would help in providing opportunities that help in efficient launching
of the product before the London Fashion Week and also developing the products of the
company according to the market demand.
TIME SCALE
The efficient management of time is very necessary for conducting such research projects
and activities. The activities that are to be undertaken must be planned and conducted at
the right time as specified to finish the project on time and achieve positive results. Here, a
milestone schedule is used for the scheduling of the activities based on time available for
completing the project.
MILESTONE DATE DELIVERABLES
Conducting market research 20th July – 30th July 2019 Collecting the primary and
secondary data, conducting
analysis and providing
conclusions
Development of the product 1st August – 30th September
2019
Developing the product
according to the plan
considering the preferences
of the consumers
Testing the product 1st – 10th November 2019 Assessing the effectiveness
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of the hoes produced by the
company
Launching the product 16th – 20th November 2019 Focusing on increasing the
sales of the product with the
help of representatives
COST
For the effective execution of the project, it is necessary to prepare a budget for analysing
the cost needed to conduct every activity of the project. For performing the activities
planned for the completion of the project, the company requires a budget of £2050 that can
be explained through the cost breakdown for every activity of the project:
ACTIVITIES COST
Project planning £50
Tools and equipment £300
Production process £350
Raw materials £500
Market research £250
Launching the product £600
TOTAL £2050
QUALITY MANAGEMENT
Every business focuses on improving and maintaining the quality of the products and
services offered by the company to achieve the desired goals and raise profitability. In this
project, methods and measures of quality assurance and control will be undertaken to
manage the efficiency of the outcomes of the project. This will help in ensuring the
standards of quality throughout the project (Meredith et al. 2017).
COMMUNICATION PLAN
There should be an effective flow of communication among the team members to share the
information that helps in increasing the efficiency of the project management plan. The
communication plan can be described as follows:
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STAKEHOLDERS INFORMATION METHOD OF
DELIVERY
TIME OF
FREQUENCY
SENDER
Senior
management
Progress of the
project
Oral and
Written report
Daily Product design
manager
RISKS
There are many kinds of risks involved in the execution of a project. These risks must be
assessed effectively in advance to reduce the losses that might arise at the time of
implementation of the project. The risks included in the projects are the misuse of
information, loss of the collected data, and unavailability of funds at the time of need,
technical issues, human errors and delays in the activities of the project (Heagney, 2016).
Thus, the project management plan plays a significant role in the mitigation of the risk by
making proper plans, budgets, time schedules, producing work breakdown structure, etc.
RESOURCES
The following product requires various resources for the accomplishments of the planned
activities and tasks effectively. The significant resources needed for carrying out this project
are human resources and financial resources for the accomplishment of the tasks an
effective execution of the project (Heagney, 2016).
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WORK BREAKDOWN STRUCTURE
With the help of a work breakdown structure, it becomes easy to understand the activities
that are to be carried out in the project. Work breakdown structure helps in organizing the
work by dividing it into different sections and effectively managing the activities that are to
be undertaken (Sutrisna et al. 2018). The structure for the following project can be drawn as
follows:
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GANTT CHART
The following project consists of effecting planning of the activities to be undertaken for the
successful implementation of the project. Therefore, for an analysis of the time needed to
complete each activity, a Gantt chart would be used that will be helpful in the
accomplishment of every task within the specified time to achieve the desired aims an
objectives of the research project (Slack, 2015).
ACTIVITIES Week
1
Wee
k 2
Week
3
Week
4
Wee
k 5
Week
6
Wee
k 7
Week
8
Week
9
Aims and
objectives
Project planning
Literature Review
Research
methodology
Data collection
and analysis
Conclusion and
recommendations
Preparing final
draft
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LO2
SMALL SCALE RESEARCH
LITERATURE REVIEW
According to Zheng, (2017), Globalization has changed the whole process of conducting and
operating a business by increasing the integration of the economies and resulting in growth
and expansion of the businesses. Thus, globalization has a positive impact on increasing the
independence of countries to a large extent and influenced the development of small and
large businesses. Further, it was added to the discussion by Gleeson (2018) that the business
organizations must take into account certain factors that heave a positive and negative
impact on the decision-making and operations of the business. These political and economic
factors must be considered while an organization works hard to grow with the help of
globalization.
As per a study conducted by Picciotto (2017), both positive and negative impacts of
globalization on the businesses were being assessed. The positive impact of globalization
can be stated with the help of opportunities for development provided to the business
enterprises for operating effectively. The geographical and cultural dimensions of the
businesses can be increased as people from different background and cultures work
together in conducting the operations of the business through globalization. Therefore,
organizations can achieve many benefits and the desired results by effectively using the
positives of globalization.
Myatt (2018) commented that to stay effective and successful in a globalized market, the
businesses must meet the demands of the customers by introducing innovative products at
reasonable prices using the latest technologies and coping up with the changes in the
environment in order to gain competitive advantage that result in increasing the profitability
and growth of the organization. Therefore, globalization has resulted in the expansion of the
business producing unique and innovative products as they can sell their products across
boundaries and thus, can build and maintain international relations that results in stability
and flexibility of the international politics. Innovation and globalization help in gaining
success to a business organization.
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METHODS OF RESEARCH AND DATA COLLECTION
According to Quinlan (2019), research can be conducted by using two methods, qualitative
and quantitative. The former helps in collecting secondary data through various sources
such as the internet, magazines, journals, etc. and the latter is used for collecting the
primary data that is collected for the first time with the help of surveys through
questionnaire, interviews, etc. from the sample population by using appropriate method of
sampling to gain information about the impact of globalization on introducing new summer
shoes in the market (Quinlan et al. 2019). Lastly, an analysis of the collected data is
undertaken to conclude the results of the project and also provide recommendations for
improvement that can be used in the business to achieve efficiency and success.
In the following project, the secondary data is collected using documental review technique
that consists of identifying and reviewing relevant information that can be used for the
analysis of the research and gaining information through the existing literary sources
regarding the impact of globalization on the growth and development of business
organizations producing new and innovated products. With the help of document review,
the impact and influence of globalization on the operations of the business organization can
be assessed. The primary data is collected with the help of a survey using questionnaire
method by taking the size of the sample to be 40using random sampling. The respondents
are selected on a random basis and being asked 10 questions to gain information about the
effectiveness of the development of the product and the conclusions would be drawn using
the collected data.
RELIABILITY AND VALIDITY OF THE RESEARCH
It is very important to assess the validity and the reliability of the research project to ensure
that the information collected in the project is complete, accurate and authentic. To test the
reliability of the research, similar techniques and methods of data collection must be used in
another research project having similar environment and conditions and accuracy must be
achieved.
To ensure the validity of the research project, appropriate methods must be applied for the
data collection that is most suitable to the situation and helps in obtaining accurate results
and conclusions. In the following project, the questionnaire is prepared in an effective
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