Entrepreneurship–Creativity and Innovation: ABC Company Report

This business report provides a comprehensive overview of ABC Company, an Omani business in the transport industry utilizing a phone application to offer pharmacy services and transportation to hospitals. The report details the company's mission and vision, management structure, marketing strategies, and financial projections for the next three years. It highlights the company's partnership with Royal Hospital in Bawshar city and its focus on providing reliable and efficient services to customers in Muscat. The report also addresses the competitive landscape, identifies key challenges, and outlines strategies for success, including a SWOT analysis and risk management plan. This analysis will assist the company in making informed decisions and implementing effective measures to achieve its business objectives. Desklib offers similar solved assignments to aid students in their studies.

Running head: Entrepreneurship – Creativity and Innovation 1
Entrepreneurship – Creativity and Innovation
Student’s name
Course
University
Date

Entrepreneurship – Creativity and Innovation 2
Executive Summary
This is a business report which outlines the summary of ABC Company in Oman. The vision and
mission are discussed with great means of knowledge. The management team and position are
well elaborated in the report. This will outline the management activity flow plus the hierarchy
system in the organization. Marketing strategies and another way to be used by the Company
have been identifying. Marketing strategies will help the organization to win strong position in
the market thus becoming more competitive. Financial standing for the next three years has been
shown including a general overview. The financial plan will help the business to estimate the
expenses and capital required to run the business. The company will be successful once it
follows all strategies accordingly.
The company is located at Oman, which is the capital city of Muscat. It is an already existing
business belonging to transport industry which has been facing several challenges in Oman. The
company uses a phone application to provide pharmacy services and transportation of people to
the hospitals from their homes when a need arises.
The company will provide easy and quick services using access of Phone application. To get the
client information one needs to sign up for an account and also using the account you can make
payment via the card or else cash. For the company to ensure effective services to their
customers they partnered with Royal Hospital in Bawshar city. This report will help the company
in decision making and analyzing various measures towards its success.

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Table of Contents
Introduction...........................................................................................................................................4
Mission and Vision Statement..............................................................................................................5
Business idea – Product/Services..........................................................................................................6
Company background...........................................................................................................................7
Management team.................................................................................................................................7
Organization Structure.........................................................................................................................8
Ownership information.......................................................................................................................10
Risk Management plan.......................................................................................................................10
Capital required for investment.........................................................................................................11
Location analysis.................................................................................................................................12
Manufacturing/Production plan.........................................................................................................14
Marketing plan....................................................................................................................................16
Financial Plan......................................................................................................................................20
Projected Loss and Profit account..................................................................................................22
Conclusion............................................................................................................................................24
References............................................................................................................................................25

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Introduction
This is a Business report for ABC Company. This company is located at Oman, which is the
capital city of Muscat. It is an already existing business belonging to transport industry which
faces several challenges in Oman. The company uses a phone application to provide pharmacy
services and transportation of people to the hospitals from their homes when a need arises.
Phone application will be used to provide an easy and quick access to pharmacy services. To get
the client information one needs to sign up for an account and also using the account you can
make payment via the card or else cash. For the company to ensure effective services to their
customers they partnered with Royal Hospital in Bawshar city. This report will help the company
in decision making and analyzing various measures towards its success (Sedelnikov, 2018).
The Business will conduct situational analysis which will be done using SWOT analysis tool.
This will help the business to study and evaluate the Strength, Weakness it has in dealing with
internal factors, While Opportunity and threats will business to have the knowledge on how to
deal with the external factors. This is opportunities and treat in the market.
This will provide more on the following areas. The vision and Mission of the organization. The
management team, position and duties of each individual in the organization. This also will
include the management activity flow plus the hierarchy system in the organization. Marketing
strategies, these strategies will help the organization to win strong position in the market thus
becoming more competitive. Financial standing for the next three years has been shown
including a general overview. The financial plan will help the business to estimate the expenses
and capital required to run the business.

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Mission and Vision Statement
Both of these statements help to understand the organization better in terms of its purpose. The
mission statement expresses the company’s reason for existence, and how it is aiming to service
its main stakeholders (Taoketao et al., 2018). This emphasizes mostly on the organization’s
stakeholders, which are employees, customers, investors and others like community and
government (Tikas, & Akhilesh, 2018). The mission statement is longer compared to the vision
statement.
Vision statement declares the future orientation of the organization towards its purpose and
desire. Therefore, to satisfy the organization’s mission we should first focus on the
organization’s vision.
The mission statement of ABC Company is, “To provide the world best transport system which
is reliable, safe and efficient, satisfying both customer and management’s needs”
The vision statement, “We will be the provider for our client and a prototypical of excellence for
our industry”.
Both statements, mission, and vision to be achieved successfully in the organization they should
be a supportive object which core value. The core value of the organization will be: endeavor for
excellence, be fair, caring and honest, reliable, safe and friendly to our customers Tomczak,
Reinecke & Kuss, 2018).
Business idea – Product/Services
The company cannot exist without product and services proving to its customers. The main aim
of the company is to provide reliable transport services to the customers in Muscat. The service

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is targeting both female and male clients (Matschewsky, Kambanou & Sakao, 2018). Our
product will mostly be targeting people with disabilities and old customers. Inside transport
industry we are not alone because they are existence of competitors. Marhaba Taxi Oman,
Mwasalt Company and public transport they act as our main competitors in the market at Oman.
As we ABC Company, we are going to deliver our product in more special way than other, for
example, the transport service will reliable to all members of Oman, they will be promotional
token for frequent customers and enhance use of mobile application to make the operations
easily. All this advantage it will attract more customers and reduce the gap of challenges the
people of Oman was experiencing.
Our services will have enabled by phone application. This will enable customers to provide their
information in an easy way by signing up. Also, this application it will be used to offer
medication and transport service very easily since it will facilitate connection between client and
company without any challenge. Royal Hospital as our partner it will help as to achieve the goal
of offering our product and service conveniently to our customers. Using our product advantage,
our cars to will spread to the specific points of the clients despite the opposite of public means of
transport. Our product and services only it will be available only at Muscat.

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Company background
The Company has several ideas to overcome the challenges in Oman the company is located at
Oman, which is the capital city of Muscat. The company uses a phone application to provide
pharmacy services and transportation of people to the hospitals from their homes when need
arises using cars. However, to due to lack of reliable transport in Oman the ABC Company takes
this opportunity to fill the market gap accordingly. The company is aiming to offer two cars one
for men driver and another one for the female driver which will serve men and female clients
respectively. The transport services will be available only in Muscat.
Other use of the phone application, will be to provide pharmacy services and ensure easy and
quick access to the pharmacy. This means that once you get doctor approval it will be easy to
access medication. To get the client information one need to sign up for an account and also
using the account you can make payment using the card or else cash. The company will partner
with Royal Hospital so as to ensure efficient and effective services towards the customer.
Management team
For every successful business behind it, there is strong team of management which is qualified
for their tasks. At the start of every small business, it’s naturally no more activities carried out
within the management sector (Bunderson & Van der Vegt, 2018). As the business grows with
time, the management field also naturally expands, therefore, requiring more effort from several
personnel. For the business to grow one person cannot manage sales and operation sector,
accounting and finance office and marketing field since is too tiresome for one individual to
accomplish all those tasks (Lyngsie & Foss, 2017). When it reaches this point, it's the high time
to bring high skilled managers on the panel than before to help to carry out the operations.

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Therefore, acquiring a team of management which will provide smooth directions, vision, and
leadership for organization operations (Huynh, Gudergan & Wilden, 2018). The management
team is described using organization and ownership structure.
Organization Structure
This structure is part of management team. This structure describes the organizational flow of the
management and their responsibilities in the respective positions. Also, in other organizations
this also the flow of the activities and their efficient way to achieve the final product.
In the process of coming up with management team their qualification a supposed to match the
personnel's strength with the job. This means offering business responsibilities to individuals
according to their skills level but not based on another thing like friendship (Huynh, Gudergan &
Wilden, 2018). For the executive team to be complete it needs several managers in different
fields as described below. According to Heavey & Simsek (2017) the following are top five
managers to be considered in any business organoization.
1. Chief Executive Officer (CEO). This is the overall manager in any organization, whose
responsibility is to assign, control and supervise all operations undertaken in the
organization. All business strategies are determined by him or her therefore, he is
responsible for building and hire the strong team. The CEO must be able to analyze and
make decisions on the way the business will penetrate the future market.
2. Chief Operating Officer (COO). Is a person in the organization who handles complex
operational issues? He needs to use all means to measure all operations and tell if things
are progressing well. When the business grows bigger and bigger it needs clear

Entrepreneurship – Creativity and Innovation 9
measurements of operation and more details of them. The COO Manager if performs
effectively on this task the business will exploit it knowledge as required.
3. President. This is the person who will be used to cover the position of CEO or COO if he
is bsent in job. He oversees all staff functions including human resource, strategies
implementation, and finance in the company.
4. Chief financial officer (CFO). This is the person who handles money matters. He used to
create finance and budget strategies of the organization. They create and implement
control systems that will monitor the company's financial progress. He is always
analyzing business line, customers and products/services which are profitable than the
other in the company.
5. Chief Marketing Officer. (CMO). This is a very important position in the organization as
the time goes. The market is very competitive, therefore require an expert in the field like
Chief Marketing Officer. He oversees the marketing and sales strategies and does them.
He should analyze competitors’ product, its distribution, and differentiation in the male
market so as to improve Company’s' product in a good way, pleasant to the customer.
6. Chief Technology Officer (CTO). Technology is a very good tool to be employed in the
current business world. The CTO should keep in touch with all new trends and
innovation of technology so as to improve organization operation and product according.
Technology helps in production, marketing, and sale and in all other departments of the
company.

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The diagram below elaborates more.
Figure 1: Management team (Heavey & Simsek, 2017)
Ownership information
However, the ownership of the company is also part of the management. The owner of the
business is recognized as the Chief Executive Officer of the business. ABC Company will owned
by the family members meaning these, they will be always influencing the management decision.
Risk Management plan
Risk management plan is a plan which the business will use to manage all risks affecting the
business. This methodology helps the organization to identify the risk throughout the life cycle
of the business project. Also, this plans outlines the ways to encounter the risk which might
affect the business (Huynh, Gudergan & Wilden, 2018). The importance of this plan is prioritize

Entrepreneurship – Creativity and Innovation 11
the risks and ways of eliminating them systematically. The following are the entities which must
be addressed in this plan:
- Risk and Consequences. This is identifies the risk influencing the business and its
consequences in place.
- Probability. This shows the probability percentage of the risk to occur.
- Impact. What are the result after the risk attacks the business? This depends on the size of
the business.
- Priority. After the risk occur in the business, it is arranged according to the priority of
affected item.
- Mitigation feedback. This is the means which is used to eliminate the risk from the
business.
This is a good plan to have a risk management program because it participate in the success of
the business. Also, this plan it will keep the management team on watch for any future
occurrence of the risk and be ready with measures to protect the risk.
Capital required for investment
Capital investment is defined as the money invested in the organization aiming at furthering the
business goals (Liu & Walsh, 2018). Also, this may be recognized as a capital asset such as
machinery and production plant and company vehicle which is expected to generate more
revenue for the organization.
The ABC Company is planning to get its capital from Al-Raff fund informs of the loan so as to
purchase two cars. One car for the male driver and the other for the female driver which they will

Entrepreneurship – Creativity and Innovation 12
serve male and female customers respectively. These cars will generate income for the company
through offering transport service from home to hospital (Marks-Bielska & Serocka, 2018). The
below gives more information.
Item Cost Lifespan
Two Cars (Maruti Suzuki
Swift)
$1.2 million 3 to 4 years
Major Spare parts $ 800,000 3- 4 years
Drivers Salary $70,000 p.m. -
Table no 1: Capita requirement, Created own table.
The table above describes the capital required to expand the business in more areas. The driver
will be under contract of six months and thereafter to be renewed. The salary of each driver per
month is $35,000 per month, therefore, totaling $75,000 per month.
Location analysis
The location analysis is a very important ingredient for business success. For example, if a
company selects the wrong position in the market, may have limited customers than expected,
transport problem and security and so on (Davies & Killeen, 2018). Therefore, the wrong
location affects a company’s profit negatively. Selecting the business location is supposed to
match with business objectives. However, this will mean that the business is trying to minimize
the cost and risk while maximizing the business opportunity (Davies & Killeen, 2018). When
selecting the location strategy of a company should consider: the size of the company, traffic in
the location, population, total cost, infrastructure, labor from outside (both skilled and unskilled
personnel) and availability of suppliers.

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In the process of formulating location strategies, the company should consider at least the
following factors:
1. Facilities. This depends on short term and long term business goals. Also, facility
planning depends on the company’s space.
2. Feasibility. This is the evaluation of various operation costs and assessment compared to
other locations.
3. Labor. This means evaluating whether the location will meet the company's objective for
both short and long-term. This is supported by skilled and unskilled labor available.
4. Site and community. This is to confirm whether the site and community are compatible
with organizations’ objectives.
5. Political risk. Political stability in the location is very important since it ensures the
conducive environment for business. This encourages all parties to participate in
economy building activities.
6. Environmental regulation. Companies should put into consideration various
environmental regulation which might affect its operations. These regulations also might
have influence between the Company’s’ relationship and the community.
Therefore, considering the location the location of ABC Company is located at the capital city of
Oman which is Muscat. This location is suitable for the company since transportation in the
capital city is very important. The population is high in the city, therefore, more customers are
easily accessed. Other facilities like infrastructures and communication are smooth in terms of
road and health care centers. The ABC Company will benefit a lot since all resources required
are available in the city and therefore, the revenue will raise.

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Manufacturing/Production plan
Manufacturing plan is the schedule which simplifies the manufacturing and production practices,
the sequence of operations in relevant ways and technical resources allocations (Gyulai, Pfeiffer
& Monostori, 2017). The organization management will ensure adequate supply of all raw
materials, personnel required and other essential items are available producing the final product.
After all this is done according to the schedule it will enable production sector to achieve its
objective of maximizing the profit and maintaining a contented customer base. A well scheduled
manufacturing sector will have Manufacturing planning and control (MPC) systems (Gyulai,
Pfeiffer & Monostori, 2017). This mechanism is very advantageous to provide competitive
strategies and enable decision making to respond easily. To be successful in manufacturing
planning, the company should have the parts:
- Sales and Operations Plan
- Master Production Schedule
- Material Requirement Planning
- Purchasing and Production Activity Control
However, the company which utilizes this schedule well, it ensures precise and quick production
processes and at a lower cost (Zijm & Regattieri, 2019). According to Zijm and Regattieri
(2019), the manufacturing plan will have to achieve the following objectives towards the
company.
- Evaluating the market and new goods/services. Before the company starts manufacturing
of new product and release it to the market and analyzing the market place and any other

Entrepreneurship – Creativity and Innovation 15
existing product. Otherwise production team can do market research and come up with
new production process according to the market demand.
- Minimizing Production Time. Another manufacturing objective is ensuring that
production process is completed within the time limit or as soon as possible. This can be
achieved easily by using a tool known as Gantt charts which used to provide calendars
that have multiple jobs at a glance. This makes the operation in manufacturing unit
simple and clear.
- Reducing cost. Through usage of smooth supplying method, the management can ensure
planning effort in manufacturing unit are good. Efficient supply chain personnel help to
minimize the manufacturing cost through supplying raw materials on time and meets
manufacturing needs correctly.
- Using Resources Efficient. The company will ensure all allocated resources has been
used appropriately as planned. This will ensure that no resources will be wasted instead
they result to maximum utilization of them. Therefore, by using this schedule the
company will improve in minimizing the overheads of the company.
According to this ABC Company, Manufacturing plan is not applicable since is aiming to offer
services instead of producing goods. No raw material and manufacturing plants needed in this
site, only capital and human resources require to the business operation.
The figure below explains more about production schedule.

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Figure 2: Manufacturing process (Zijm & Regattieri, 2019).
Marketing plan
Marketing is a very key factor in the success of any business. This focuses on the target market
and customers within the business location (Hunt, 2018). Also, it involves working out on the
ways of winning more new customers and maintaining the existing one happy. Don’t forget that
also competitor is focusing on marketing strategies. Improving market plan in greater heights
will also increase the company’s revenue since the sales will be high (Hunt, 2018).
To ensure they are a strong marketing plan, the business should ensure effective marketing
objective are available. The objectives will be based on organizational strength and weaknesses
(Jaworski, 2018). The objective should be SMART. That is:

Entrepreneurship – Creativity and Innovation 17
- Specific. Should not be general, supposed to be specific to the market like getting five
new clients per day.
- Measurable. The objective should easy in a way that can be reviewed again when
revising market strategies.
- Achievable. The resources should available for the objective to be achievable. Money and
people are critical resources.
- Realistic. Objectives should be real. Should encourage not to demotivate because are
unreasonable.
- Time-bound. They are both short and long-term objectives. All this should have a time
limit to be achieved
Concerning this ABC Company is targeting disabilities and old people in the market.
In the sector of the market plan, also the company is supposed to consider several factors which
might affect the business negatively or positively in its environment. These are factors which
business management can control externally and internally (Kim, 2017). Also, other factors are
beyond the management they influence the business without any control measures to be taken.
These factors are called Macro environmental factors and they include the political factor,
cultural and social factor, geographical factors, technological factors, legal factors, and ethical
factors (Lehmann, Pickel, & Arndt, 2018). The diagrams below explain more about the PESTLE
Analysis in the market.

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Figure 3: PESTEL Analysis (Pan, Chen & Zhan, 2018)
The market segment also is a critical part. This focuses on only the selected areas for the target
market. This includes both target regions and people (Bruwer & Li, 2017). For every segment,
the business identifies what the customer needs, what the business can offer better than their
competitor and analyze its worthiness concerning the volume of sales. The segment of existing
customers, the business should find all ways to expand it and maintain then customer’s happy
(Becker et al., 2018). It is a segment of a new targeting customer; the business should ensure
they are enough resources to reach them effectively.
The other area to deal with is about marketing tactics. Finally, after business set marketing
objective and its strategies for the plan, then needs to put everything in reality. They are a tactic
called market mix which is crucial in market planning. This is known as 4Ps, product, pricing,
place, and promotion (Kraak et al., 2017).
Marketing mix 4Ps.

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Figure 4: Market mix (Stead & Hastings, 2018)
Product. This is the physical item or service the business offers direct or indirect to the
customers. The organization can come up with various products to satisfy customer needs in the
market (Leiber, Stensaker & Harvey, 2018). Each variety can provide revenue earning the
opportunity to the business. Other relevant ideas in the product are to develop branding and
designing packages which will prove product lifecycle. This company has expanded its business
in the transport sector.
Price. Pricing for every product and service is very difficult to set. The price of a service
determines the customer ability to afford it. The price of a product can be regulated by the
management of national authorities. The price of ABC Company is very competitive compared
to that of competitors.

Entrepreneurship – Creativity and Innovation 20
Place. This is the location of the business. This is important between the relationship of the
business and customer. The ABC company is located at the capital town Oman where is
accessible easily by its customers. Also, this encourages easy feedback and interaction for both
parties. The business should also be sure of the geographical region owns so as to maintain the
customer desires.
Promotions. This is the techniques which the business carries out to encourage a customer to buy
more the company's product. This is achieved by addressing the benefits and properties of the
product matching with customer need. The advertisement is part of the promotion, thus making
the market to be aware of the existing or new product (Jia, Wang & Xiong, 2017). ABC
company in Oman it has it promotional technique. The company it will offer one free ride to the
customer who will use the services for more than five times
Financial Plan
This is the sector analyzing business income and expenses for a certain period of time. Also,
involves estimating the organization capital and outlining financial policies (Barth, 2018). The
financial plan has some advantages to the company and that is:
- Ensuring sufficient funds into the organization operations.
- Ensuring sound balance of inflow and outflow funds in the company therefore
maintaining stability in the organization.
- Financial planning provides sound investment and ensures suppliers are well funded.
- The program which need long run in the company should be helped to survive through
good business plan.

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- Good financial planning minimizes uncertainties and facilitate courage to business
operations.
- Financial planning gives a clear picture of the company by giving detailed information
for liabilities and business asset and capital
- Financial planning outlines clear image towards the future of the company.
For ABC Company they have to propose an important aspect for their financial plan.
General overview.
GENERAL INFORMATION
IST YEAR 2ND YEAR 3RD YEAR
Plan per month 1 2 3
Interest rate currently 11% 11% 11%
Interest rate – long-term 11% 11% 11%
Tax Rate 32% 32% 32%
Others 0 0 0
Table no 2: General overview, Created own table

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Break-Even Analysis
ANALYSIS FOR BREAK EVEN
Break-even for monthly revenue $7,528
Assumptions
Variable Cost at Average cost 7%
Fixed Cost Estimated per month $7,547
Table no 3: Monthly break even, Created own table
Projected Loss and Profit account
The following is profit and loss monthly table.

Entrepreneurship – Creativity and Innovation 23
Figure 5: monthly profit (created own projection)
Yearly sales according to the ABC Company services.
Figure 6: Yearly sales (created own projection)

Entrepreneurship – Creativity and Innovation 24
Conclusion
ABC Company is a business in the transport industry. This company needs a report outlying all
areas to work on so as to expand well. The report has outlined the mission and vision of the
company which identifies its main goals, short and long-term objectives. The management team
and marketing plan was the very critical area for analysis. The market planning is the key
concept the selected management should focus on it. This is only the way the management can
analyze and evaluate ways of dealing with competitors. This plans helps to gather more
information from the field and put them in practice in the office station. Only through marketing
the company can be familiar with what customer they require to become satisfied. Finally, was a
financial projection for the next 3 years to come?

Entrepreneurship – Creativity and Innovation 25
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Entrepreneurship – Creativity and Innovation 29
APPENDIX.
The Business Model Canvas
The BUSINESS MODEL CANVAS
Key Partners
Royal Hospital
Public transport
Mwasalat
Company
Marhaba Taxi
Oman
Key Activities
Transport
services
Assist in
medication
services
Use of phone
application
Value
proposition
The company
services are
reliable,
convenient and
easily accessed.
Promotional
advantage for
customers is
available.
Help disability
and old people.
Offer transport to
specific point
opposite with
public transport.
Customer
Relationship
The key
customers are old
and disabilities
people. The
company
maintains strong
relation by
offering good
services.
Customer
segments
Both men and
woman
Old and
disability people
Customer with
Muscat
Key Resources
2 cars
2 drivers
Capital
Hospital
Customers
Channels
Phone application
Direct contact
References
Cost structure Revenue stream

Entrepreneurship – Creativity and Innovation 30
Fixed cost – Rent, Building, office equipment
Variable cost – salary, fuel, capital and other
labor
Net profit per year.
1st - negative
2nd – positive of $10,000
3rd – positive of $20,000
Figures. 1
Figure 2

Entrepreneurship – Creativity and Innovation 31
Figure 3.
Figure 4

Entrepreneurship – Creativity and Innovation 32
Figure 5.
Figure 6

Entrepreneurship – Creativity and Innovation 33