Shak Box Consulting Company - Innovation and Entrepreneurship - Free Essay Example

SHAK BOX Consulting Company Innovation and Entrepreneurship       Contents I.Executive summary II.Mission and objectives: 1.Mission: 2.Objectives: 3.Keys to Success: III.Trends affecting business growth: a)Mobile Devices b)Higher Design and Usability Standards c)Corporate Clients Want Solid Returns on IT Investments: IV.Resource requirements: a)Company Locations and Facilities b)Services c)Service Description V.Objectives/ milestones and Timetable of goals: VI.Managerial focus: a)Management Summary: b)Organizational Structure: c)Management Team: VII.Identify marketing strategy a)The 4ps: 1.Proposed Product or Service Plan: 2.Proposed Pricing Policy: 3.Proposed Promotional Plan: 4.Place (distribution): VIII.APPENDIX . I. Executive summary II. Mission and objectives: 1. Mission: Shak Box aims to offer comprehensive consulting services. Shack Box will focus on providing personal and specialized services to meet each clients specific needs. 2. Objectives: To satisfy a market need to offer a full-time consulting product To develop a client base requiring a team effort, versus a sole practitioner, to satisfy client requirements 3. Keys to Success: In my opinion as the founder of this company, to keep the company in its best productivity times and to continue setting higher objective to achieve we must maintain the following : Team approach on most consulting projects A group of professionals with a broad range of specialty areas that complement each other Successful niche marketing: we intend to find and target the quality-conscious customer in the right channels, making sure that the customer will find us through aggressive marketing Uncompromising commitment to the quality of the work: that is, quality data, information and solutions III. Trends affecting business growth: Mobile Devices : as the mobile device market grows this shows us that consumers are more and more going mobile, According to the CIAs world fact book we have about 6 billion mobile devices in 2011. Moreover, we have about 2.1 billion active internet users in 2010. This trend could help the business in many ways one of the most important ways is that Shak Box can reach a very wide audience worldwide providing online business services. (Cia.gov, 2014) Higher Design and Usability Standards: According to searchenginejournal.com, design and usability are no longer a complement to your marketing strategy. Design and usability are quickly becoming an essential part of marketing efforts because if users do not like what they see they will leave. Make it easy for them to find what they are looking for with a fast loading site that is easy to navigate. In Shak Box the added value that will be delivered to the consumer is the developed mobile (Search Engine Journal, 2014) Corporate Clients Want Solid Returns on IT Investments: According to plunkettresearch.com For more than a decade, a major source of revenue for consulting firms has been information technology projects of all types. The rapid growth of the Internet, intranets, e-commerce, advanced computer networks and private data nets encouraged corporate executives to dive into IT projects, generally at immense cost. Consultants were among the major beneficiaries of these projects. However, IT investment wound down rapidly between 2001 and 2003. Today many IT consulting projects are bid on a fixed cap basis, whereby a pre-agreed fee is guaranteed to see the project through to successful completion. For the mid-term, most corporate clients will be very stingy with IT consulting budgets. Non-essential projects will be delayed until economic growth resumes and corporate profits improve. When money gets tight as it has been for 2008-2009, corporate IT executives will make the best of their existing sy stems and look for ways to cut corners when implementing new ones (plunkettresearch.com,2014) IV. Resource requirements: Entire start-up expense comes to $80000. Start-up assets required include $220000 in initial cash to handle the first few months of consulting operations as sales and accounts receivable play through the cash flow. The details are included in Table 1 below. Start-up Requirements Start-up Expenses Legal $4,000 Stationery etc. $8,000 Insurance $3,000 Rent $10,000 Computers $25,000 Servers and hosting $9,000 Website and Application platform $20,000 Other $2,000 Total Start-up Expenses $80,000 Start-up Assets Cash Required $140,000 Other Current Assets $0 Long-term Assets $0 Total Assets $140,000 Total Requirements $220,000 a) Company Locations and Facilities The initial office will be establish its headquaterters office inHamra area of Beirut, the heart of theCity. Onthe other hand, the company, which provides ONLINE/OFFLINE consulting services, must have many resource bases and selling points therefore developing small bases all over the region of the MEA and most importantly targeting immerging countries such as China, Chile, and Brazil by establishing franchises. b) Services SHAK BOX offers a list of services forbusiness owners to choose from, depending on their particular business needs. c) Service Description Start-up services include business project preparation, marketing plan, and financing search and management. Ongoing services hold business plan updates, marketing plan updates, search and procurement of IT consulting, management development, financing, e-commerce services, equipped advising, and HR advising. Shak Box is flexible, working with its clients in the fashion preferred by the customer, be it on-site, remotely, or a association of both. Shak Box typically works on a project in a team to help the customer in all areas of the business simultaneously. This allows for all parties involved to be in sync in terms of knowing the interconnections of all functional areas of the business therefore closing all the gaps. V. Objectives/ milestones and Timetable of goals: https://www.bplans.com/consulting_planning_business_plan/strategy_and_implementation_summary_fc.php https://www.bplans.com/business_development_business_plan/services_fc.php https://www.bplans.com/business_consulting_business_plan/strategy_and_implementation_summary_fc.php https://www.bplans.com/management_consulting_business_plan/strategy_and_implementation_summary_fc.php VI. Managerial focus: a) Management Summary: The management team in Shak Box consists of the entrepreneur of Shak box Ghandi Ghoussaini, due to his experience in the marketing and the management field with a BS in Management from Cardiff University and a BS in Marketing from MUBS University We will develop and nurture the company as society. We do not intend to be very hierarchical because of the globalization of the business and an influence from a very professional entrepreneur Sir Richard Branson on Mr.Ghandi Ghoussaini b) Organizational Structure: Its founder Ghandi Ghoussaini as a start up will manage Shak Box but as Shak Box grows there will be more structure to the organization, with new employees being assigned a supervisor or subordinate is a must. c) Management Team: The founder will necessarily be involved in the fulfillment of the core business proposition, providing the expertise to the clients. Later, we intend to add more partners, consultants, and sales staff. To add on that we acknowledge the fact that successful recruiting, motivation and discipline procedures are keys to the growth of the organization. Hence we intend to promote and maintain good labour relations, strong morale and high quality work per employee. VII. Identify marketing strategy a) The 4ps: 1. Proposed Product or Service Plan: As mentioned above one of the most important trends discovered is the mobile devices people are living the mobility age with a platform as an application that gives the chance to the end consumer to access his company were ever and whenever he wants As a consultancy business Shak box works in a deadline frame of work therefore if the service is not delivered in the right time the consumer will get a discount about 50 % depending on the project this discount acts like a warranty for the consumer. 2. Proposed Pricing Policy: We aim for lower costs in order to attract more customers .The lower costs will be enough to pay for the required costs but will have low revenue in the future . Looking at the current market there is a shortage of consulting companies for smaller to medium sized type of businesses.With this pricing strategy Shak Box will be able to attract more business and make up the revenue in that way. The low costs will be kept at that level for one years and once the volume of business has increased 20% the prices will be increased 15% in order to increase revenue. 3. Proposed Promotional Plan: Ways to reach our target market things we can improve: Our website and online marketing Leave behind literature when we are at a service call Direct mail Newspaper Cable TV Agreements with banks on were entrepreneurs can gethelp after they got accepted on the lon aplication or how to get accepted for a lon application for openning a new business We should be able to collect dozens of testimonialsthrough our website we willhave some written testimonials as well as audio testimonials. These audio testimonials are pretty powerful and in the future we need to collect some video testimonials for our website and other ratings on socail media such as facebook, Linked in and tweeter. 4. Place (distribution): As mentioned above Shak Box will establish located in Beirut,Hamra as a headquarters , but the company will be establishing resource bases and selling points all over the MEA region in addition to that in the near future Shak Box will establish other offices in the emerging countries such as china, Brazil, and Chile VIII. Recognition of operating and regulatory environment and proprietary needs: IX. APPENDIX SHAK BOX Balance Sheets Date 2004 2005 Assets Current assets: Cash 14,000.00 Investments Inventories Accounts receivable Pre-paid expenses 1,500.00 Other Total current assets $ 15,500.00 $ Fixed assets: computer equitpment 60,000.00 Property and equipment 200,000.00 general installation 10,000.00 Equity and other investments 400,000.00 Less accumulated depreciation (67,000.00) Net fixed assets $ 603,000.00 $ Other assets Goodwill Total other assets Total assets $ 618,500.00 $ Liabilities and owners equity Current liabilities: Accounts payable Accrued wages Accrued compensation Income taxes payable Unearned revenue Other Total current liabilities $ $ Long-term liabilities Mortgage payable Total long-term liabilities Owners equity Investment capital Accumulated retained earnings Total owners equity $ $ Total liabilities and stockholders equity $ $ Two-Year Comparative Income Statement SHAK BOX Financial statements in U.S. dollars [Current Period] [Prior Period] Increase / (Decrease) Percent Change Revenue Gross Sales 550,000 550,000 Less: Sales Returns and Allowances 14,000 14,000 Net Sales 536,000 0 536,000 Cost of Goods Sold Beginning Inventory 0 Add: Purchases 0 Freight-in 0 Direct Labor 0 Indirect Expenses 0 Inventory Available 0 0 0 Less: Ending Inventory 0 Cost of Goods Sold 0 0 0 Gross Profit (Loss) 536,000 0 536,000 Expenses Advertising 137,500 137,500 Amortization 0 Bad Debts 0 Bank Charges 0 Charitable Contributions 0 Commissions 0 Contract Labor 137,500 137,500 Depreciation 67,000 67,000 Dues and Subscriptions 0 Employee Benefit Programs 0 Insurance 1,500 1,500 Interest 0 Legal and Professional Fees 55,000 55,000 Licenses and Fees 0 Miscellaneous 0 Office Expense 6,000 6,000 Payroll Taxes 0 Postage 0 Rent 0 Repairs and Maintenance 0 Supplies 0 Telephone 10,000 10,000 Travel 0 Utilities 0 Vehicle Expenses 0 Wages 0 Total Expenses 414,500 0 414,500 Net Operating Income 121,500 0 121,500 Other Income Gain (Loss) on Sale of Assets 0 Interest Income 0 Total Other Income 0 0 0