Business Development & Operational Plan: Jaltek Systems Limited

This report analyzes the business development and feasibility evaluation of Jaltek Systems Limited, a small-medium sized electronics manufacturer. It explores new markets and income streams for the firm's existing business and prepares a short-term operational plan. The report uses a TOWS matrix to identify responses to future opportunities and threats, linking marketing, finance, HR, and operations. It defines the size of opportunities using an opportunity matrix and identifies the tangible and intangible resources needed. The report also outlines a business model for Jaltek, including sales measures, key success factors, and a pitch for raising support and finance, concluding with feedback incorporation for strategy enhancement.

Business Development

CONTENTS
INTRODUCTION......................................................................................................................1
TASK – 1...................................................................................................................................1
1.1 Using the TOWS matrix to identify a response to a future opportunity or threat.......1
1.2 Identifying the business planning links between marketing, finance, HR and
operation.................................................................................................................................2
TASK – 2...................................................................................................................................2
Opportunity matrix.................................................................................................................2
Defining the size of opportunity.............................................................................................3
Tangible and intangible resources needed..............................................................................4
TASK – 3...................................................................................................................................4
A business model....................................................................................................................4
Sales measures and key success factors.................................................................................5
Developing a pitch for raising support and finance................................................................6
Taking feedback on the development strategy and making enhancement.............................7
CONCLUSION..........................................................................................................................7
REFERENCES...........................................................................................................................8

INTRODUCTION
The current research report pays attention on investigating the new business format
and feasibility evaluation of a small-medium sized private limited organisation known as
Jaltek systems limited. The company is engaged into the manufacturing of electronics
products and deals with customers all across the world for selling its products and services
(Jaltek systems limited, 2021). The report will analyse the new market or new income stream
for existing business of the firm and will prepare short term operational plan as well.
TASK – 1
1.1 Using the TOWS matrix to identify a response to a future opportunity or threat
TOWS is being regarded as one of the most essential tool for comparing as well as
contrasting strategies of a firm. It emphasize on the external environment first and enables the
business to gain comprehension of the strategic choices being faced by them. There are four
strategies being used in this model that strength/opportunity, strength/threat,
weaknesses/threat and weaknesses/opportunity. Furthermore, strengths as well as weaknesses
are being regarded as the internal factors on contrary opportunities and threats are external
factors impacting the company. Making use of these four approaches will be necessary for
analysing the TOWS matrix in Jaltek system limited.
Strength/Opportunity (SO)
The main strength of the firm lies on acquiring of capital and it is the most essential
things for allowing the firm to venture in new markets and opportunity. Jaltek systems
limited has the ability of opening a new plant for increasing productivity and meeting the
rising demand for their products (Barringer and Ireland, 2016). Additionally, the firm can
also purchase small firms which will allow them to augment their local share in the market
and will decrease competition.
Strength/Threat (ST)
The key threat being faced by Jaltek systems limited is the probability of not fulfilling
the requirements of the customer because of huge demand. The main strategy here is to take
the advantage of current capital flow and making investing in new equipments for
augmenting the productivity level. They can also outsource for meeting the demand.
Weaknesses/Opportunity (WO)
This strategy focuses on turning weakness into opportunity. The major weakness of
the firm is seen in their initial public offerings as there are numerous owners and voices at the
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time of making decisions. This can be mitigated by the firm through identifying new
magnitudes of leadership by executing individual entity clause. The opportunity Jaltek can
avail because of their weakness is looking for support from the government by tax incentives
which is very usual at times when the firm is listed. New shareholders can be new marketers
of the product of the firm by continuous updates on the growth of the firm (Malakooti, 2016).
Weaknesses/Threat (WT)
Since the firm is being engaged into the business of manufacturing there is one threat
related to inventory management and outmodedness because of dynamic nature of
technology. This threat can be mitigated by maintaining a standard reorder level.
1.2 Identifying the business planning links between marketing, finance, HR and operation
All the department of the company such as marketing, finance, human resource and
operation are inter-related with each when talking in reference with the planning of new
business. Since, the company is planning to open a new plant or can acquire existing small
companies, the operational department is required to make decision in regards with the plant
layout, machines, equipments and other things being required. On contrary, the finance
department is needed for approving budgets for making purchase. The human resource
department will help in making available required human capital for effective functioning of
new plant and marketing will help in generating sales.
TASK – 2
Opportunity matrix
The strategic opportunity matrix is being regarded as the most important matrix as it
emphasize on four growth strategies for markets as well as products. The matrix helps in
analysing new versus existing markets and new versus existing products.
Figure 1: Opportunity matrix
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(Principle of marketing, 2021).
As shown on the figure above, there are four strategies that the Jaltek systems limited
can pursue that is market penetration, market development, product development and
diversification. Market penetration involves using existing products to capture existing
markets with the aim to increase the share in the market, market development involves
utilizing existing products for capturing new markets, product development encompasses
creating new products for meeting new opportunities in the existing market and finally,
diversification is creation of new opportunities in completely new market. In regards with the
Jaltek systems limited, the company is facing threats related to huge demand of the
customers, management of inventory and obsoleteness (Ansoff, 2017). To mitigate this,
company needs to increase their production level and maintain a standard reorder level. This
can be effectively done through seeking help from market penetration strategy. Thus,
company should make use of their existing products to capture the existing market with the
sole objective of increasing their share in the local market. This strategy is less risky as it
pays attention on recognised markets and prevailing products. This will also going to help
Jaltek in evading competition from the local companies.
Defining the size of opportunity
Seeking help from both primary and secondary research, the size of opportunity for
the growth strategy can be easily accessed. It has been analysed that with the help of the
market penetration strategy that is using existing products to capture existing markets with
the aim to increase the share in the market different opportunities will be present for the
business of Jaltek systems limited. First of all, the development of market penetration
strategy can be utilized by the company for maximizing the sales of the product in
comparison with the competitors in a particular area or field. Other than this, it also opens an
opportunity for the company to attempt a new market and can capture large share in the
existing market. It also helps in quick diffusion of the product in the market and can easily
spread in the market and can meet the rising demand of the customers rapidly (Trott, 2017).
With this, Jaltek systems limited will be able to create goodwill amongst their customers
because of aggressive pricing. This can also support in referrals of client. Furthermore, the
efficacy of the firm will going to increase due to thinning of profit margins pertaining to
aggressive pricing. For maintaining profitability, efficiency is very much required.
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Tangible and intangible resources needed
For the purpose of supporting the development strategy, different resources are being
required. Some of the resources are intangible in nature while others might be tangible.
Speaking in relation with the tangible resources being needed by Jaltek systems limited these
are being defined as assets that can be looked as well as quantified such as equipments related
to manufacturing plants, formal reporting structures, human resources and furniture and
fixtures. On the other hand intangible resources are typically defined as that resources which
are not visible however deeply rooted in the history of the company and have been gathered
over the period of time. As they are being entrenched in the exclusive arrangements of
customs, it is really very difficult to evaluate and copy the intangible assets by the
competitors of the company. The intangible resources that already exists in Jaltek systems
limited involves goodwill, capacities for production and innovation, the manner in which all
people wrok together and reputation of the company (Alkhafaji, 2015). Nevertheless, for
supporting development strategy the company will be required different intangible resources
and this includes managerial capabilities, knowledgeable staff members, trust amid manager
and workers, novel ideas and scientific abilities. Further, there will be requirement of tangible
resources as well such as financial, human and innovation.
TASK – 3
A business model
Jaltek system limited can acquire existing small businesses for extending their reach
and share in the local market and this will also help in reducing the competition being faced
by the firm from local companies. It is being defined as a visual chart which included
different components and each of them defines the products of the company, customers,
finance, cost and its value preposition (Barquet, 2016). Seeking help from this a company can
easily define and describe the manner they will going to conduct a new business format and
also supports in development strategy being adopted by the company. A business model for
Jaltek is being planned and prepared underneath:
Key partners Key activities Value preposition Customer
relationships
Customers/target
market
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 Distributor
 Suppliers
 Retail stores
 Innovation
 Building of
brand
 Promotion
and
advertising
 Marketing
 Management
of quality
 Offering
quality
products to the
customers
 Corporate
social
responsibility
 Differentiated
product
 Through
offering
quality
products
 Sponsorships
 Good
customer
service
 CSR
 Individual
 Customers
 Small and
medium
enterprise
 Heath care
companies or
hospitals
 Organizations
Structure of cost Revenue Channels Key resources
 Human resources
 Research and development
 Infrastructure
 Furniture and fixtures
 Patent
 Goodwill
 Reputation
 Research and
development
 Expenses
pertaining to
human
resource,
production,
legal, logistic
and marketing
 Capital for
acquiring new
business
 Digital
appliances
 TV
 Refrigerators
 Washing
machines
 Handset
division
 Retail stores
 Distributors
Sales measures and key success factors
A sales plan is nothing but a road map regarding the ways of generating revenue and
achieving the revenue targets. Further, it is just an extension of the business plan or model.
The sales plan of the Jaltek systems limited is being described below:
Mission of
the company
To acquire small companies for extending their share in the local market and
achieving a competitive edge
Sales
structure
Marketing agencies, business development executives, sales manager and sales
personnel, chief revenue officer
Goals and
targets
 Achieving 100 cold emails spend in a month
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 Increasing the sales by 40 percent at the end of the year
 More than 10 sales appointments being made in a month
Target
audience
 Individual
 Customers (Keyhanian and Rabbani, 2015)
 Small and medium enterprise
 Heath care companies or hospitals
 Organizations
Sales
strategies
 Initiating first with the niche markets
 Utilizing leading scores for prioritizing prospects and opportunities
 Building powerful value preposition
 Communicating with the customers
Sales
execution
plan
 Recruitment of the sales personnel and manager in the first month
 Cold calls, emails and lead generation in second month
 Communicating with the customers and in the same month
 Achieving quarterly sales target of 10 percent
Measuring
performance
and
outcomes
Measurement of the performance through seeking help from sales metrics, lead
rates, close rates and number of meetings being established
Key success factors
Some of the key performance indicators for sales and marketing team of the Jaltek
systems limited are as follows:
 Revenue or return on investment being generated by each marketing campaign
 Amount of customer retained over a long period of time
 Cost involved in convincing potential customer
 Progress in generating sales revenue
Developing a pitch for raising support and finance
A pitch is being referred as a persuasive presentation utilized by the organization to
probable venture capital, investors and other individuals. Jaltek systems limited is required to
know the ways of pitching their business for planning to pursue support and finance. Seeking
help from this, the firm will be able to compel investors that the presenter or owner knows
everything about the company (Vieceli and Valos, 2017). Thus, it is crucial that the firm
should make use of such pitch which is appealing to the audience and must compel story in
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regards with their organization. It also must have potential to growth and achieve higher level
of profits in coming future. Email sales pitch will be used by the company and is being
illustrated below:
Hi,
Greetings of the day!
I attempted to get in touch with you to discuss our brand Jaltek with you and the reason
behind my thinking that our range of electronics products such as Digital appliances, TV,
Refrigerator, Washing machines and Handset division can be perfect match for your
business. The quality of our product is unmatchable and they are also differentiated from
the other companies offering the same products. We are offering good discounts to
corporates and firms like you. I am wondering if you have looked at anything like our
products.
Reply to this mail if you are interested in availing free demonstration of our products. also,
Head here for checking some reviews of our customers
Thanks in advance!!!
Regards
Taking feedback on the development strategy and making enhancement
It is very crucial to consider the feedback on the development strategy regarding the
way it is working and functioning. Feedbacks can be taken via one to one interaction or
through matching the actual result with the anticipated one. If any deviation is being found
then it is crucial to take some corrective measures.
CONCLUSION
From the analysis of the whole report it can be said that the current research project
has significantly analysed the new business format for Jaltek systems limited and has also
determined a development strategy for achieving growth. A business model and sales plan
has also being developed effectively.
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REFERENCES
Books and journals
Alkhafaji, A.F., 2015. Strategic management: formulation, implementation, and control in a
dynamic environment. Development and Learning in Organizations: An International
Journal, 25(2).
Ansoff, I.H., 2017. Strategic Management. New York: Palgrave MacMillan.
Barquet, A.P.B., 2016. Business model elements for product-service system. Functional
Thinking for Value Creation. Berlin Heidelberg: Springer.
Barringer, B.R. and Ireland, R.D., 2016. Entrepreneurship: Successfully Launching New
Ventures. New Jersey: Pearson.
Keyhanian, S. and Rabbani, M., 2015. Revenue and turn–over based joint pricing and
production planning for an integrated financial lease–sales system: a new mathematical
model. International Journal of Operational Research, 22(3), pp.310-341.
Malakooti, B., 2016. Operations and Production Systems with Multiple Objectives. John
Wiley & Sons.
Trott, P., 2017. Innovation management and new product development. Harlow, England:
Financial Times/Prentice Hall.
Vieceli, J. and Valos, M., 2017. Marketing Management. Atlantic Publishers & Distri.
Online references
Jaltek systems limited. 2021. [Online]. Available through: <https://www.jaltek.com/?
ppc_keyword=electronic%20manufacturing%20company&gclid=CjwKCAiAl-
6PBhBCEiwAc2GOVAitGAEu1SLeP31VXKlK5r7x4OQlyoFWx-
Ypn4JOcVxh7V7V64TyoxoCll4QAvD_BwE>. [Accessed on 4thFebruary2022].
Principle of marketing. 2021. [Online]. Available through:
<https://courses.lumenlearning.com/clinton-marketing/chapter/reading-strategic-
opportunity-matrix/>. [Accessed on 4thFebruary2022].
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