Explain which kind of business(Printing Company ) you will establish, why, how, and where.
Choose the method of media you will choose to lead your company and why you think it’s suitable. (You can choose any methods from the previous from the communication theory textbook). You don’t need to explain the theory, just find the connection between your businesses and how do you want to lead it using these methods.
Create a detailed production plan with deadlines and benchmarks reflecting a professional working environment.
Manage time and resources to fulfil project deadlines and production schedule.
10%Budget estimate: Create a system to monitor production costs and co – relate them to the original budget estimate.
10% Market analysis: Develop a market analysis that describes the market, defines customers and competitors
10% Management plan: Describes business structure and organization, staffing and responsibilities, facilities, schedule
Create an audience survey to measure success of the project
Implement an audience survey to measure success of the project
Produce work that has a high level of technical expertise to ensure the projects are of a deliverable professional standard
Effectively manage teams when necessary to complete their project.
Show evidence of independent research into current production methods or software to complete the project effectively.
Produce and deliver a final project in technically correct format both in physical and digital environments with proper professional labels.
Produce written documentation of all stages of the project process from concept to assessment in a professional format.
Printing company: Real Colour
The below business plan drives a comprehensive description of the kind of business, media methods, production strategy, market analysis, and management plan. The business will be identified as Real Colours. It will be corporate business that will focus on producing print products such as text books, newspapers, magazines, journals, and posters. The company will be located in Los Angles since the region is rich in population and economic prospects. Additionally, the owner of the company will be willing to venture in a area where competition that is manageable. The proceeding section provides a comprehensive analysis of media method that will led the company to achieve its set objectives. The company owner will prefer adopting the guerrilla marketing methods. The method will be ideal in the sense that it will guide the business to intensify its communication strategies through the use of internet. Secondly, the company owner will prefer adopting the strategy since it will help the company reach its wide base of clients. It would be an ideal method in the sense that the company will need to establish a strong marketing base in a location where competition level is intense. The method will also provide the company with an ample opportunity create its brand awareness. The successive section provides a comprehensive production strategy that the company will adopt. The section discusses detailed activities that will take place in the production unit. The activities will comprises of determining material and operational requirements, assessing demand of print products, establishing production capacity, and the actual production process. The section provides detailed information regarding the tasks that will be taking place in the production unit. Additionally, the production plan will include the production schedule that will indicate the durations that the company will be processing and delivering order. The production schedule will be based on the level of orders and specific demands that client will provide. The paper further provides budgetary methods that it will use. The budget will mainly affect the products units and the final products that the company will use in the first trading period. The paper provides the original production budget showing h anticipated units that it will likely produce. The successive section provides an analysis of marketing strategy. The competitor’s analysis is based on the SWOT analysis. The analysis highlights major strengths, weaknesses, opportunities, ad strengths that will most likely affect the operations of the business. The marketing section describes marketing analysis, management plan, marketing profitability that will affect marking objectives of the business. Both competitive and marketing analyses will cover the customer strategy. The management section provides an analysis of the management plan that the business will likely adopt. The paper provides the level of management, responsibilities of the levels of management and various tasks that the management will take. Responsibilities will include both operational and administrative duties. The company will comprise of top management, heads by the company president, then the middle management will rank second and the junior staff will rank below the middle management. The last part provides the audience survey that will guide the company to evaluate the success of the project.
The business will be identified as Real Color. It will be a manufacturing type of business that will focus on producing print media for it clients. The owner of the company decided that the business will be ideal to form in the sense that it operates in and healthy competitive environment. Besides, printing firm is business that will require affordable capital. Thus the owner will only need to save some cash and borrow minimally to raise the capital. Additionally, the print products have high demand in the selects location. The business will be registered as a limited liability company implying that owners will need to present the necessary certificate of incorporation to start its operation.
The company will adopt guerilla marketing methods to lead the business. The media method entails marketing promotion strategies such as internet marketing, via marketing campaign, and flash mobs, invoked through a network of groups, individuals, or organization tomake the print media products popular. The strategy is ideal in the sense that its objective is to engage, create thought-provoking, and concepts that aims at attracting customers.
The media method would create the company’s product awareness through targeting promotional-drives encounters in flash mobs presentation, street giveaways, and public places to create brand awareness within the locality. The company will focus on adoptingmodern approaches of guerrilla marketing such as using mobile digital technologies. The approach would ideal in the sense that it would guide the marking unit to engage customers frequently and emotionally, and enhance the campaign strategy using minimum resources.
Additionally, many consumers have embrace online marketing through using websites. The websites will create brand awareness through texts and image displays related to company’s products. The websites will engage customers through capturing their attentions by adding features such as informative messages while users load pages..
Moreover, the guerrilla marketing media method would enable the company to create brand awareness through social media such as YouTube, Facebook, and Linkedln. The strategy will reach wide consumer base thus create a suitable market.
The company will develop a production plan that will target to accomplish the following objectives; maximizing customer service, maximizing income, maximizing production rate, and maximizing utilization of plant and equipment. The head of production unit and the executive will come up with a detailed production planning that would consider sales forecast and demand of print outs. The plan will be implemented as shown in the illustration.
The above illustration provides a foundation of the planning process of the company.
Activity 1: Determining material and operational requirements
The first activity will focus on determining the primary requirements of the planning foundation. The concerned manager will be obliged to evaluate the sales forecast and operations requirements. Company factors ranging from print designs, marketing initiatives, customer service, and price will be among the primary factors to be considered in the initial stage.
|1||The first step will entail drawing the sales forecast for each print materials. The procedure will entail the combined effort of the production and sales unites of the company|
|2||The successive step will include assessing operations planning to determine the needed capacity of input materials and output products|
Activity 2: Assessing Demand
The concerned managers will be obliged to assess how the print products will fair in the market target market. At this stage of plaining , the company will focus on assessing market place factors that will certainly affect the demand such the level of competition, socio-demographic profile of Los Angeles, customer behavior, , and customer perception over print media. Additionally, management will focus on considering evaluating the accuracy of demand focus by assessing the overall economic condition of the Unites States.
Some of the internal factors that the company will need to consider will include customer strategy and financial strengths will play an integral role when determining the demand of the company’s print products.
|1||The step will entail assessing the demand of the print products. The process will require an effort from the demand management who will provide an estimate report on the level of print documents needed by customers at a given time|
|2||The fourth step will include assessing material requirements that the company will need to proceed with the production process. The idea is to obtain the right quantity and quality of the printing materials|
The company will consider adopting various demand strategies ranging from chase demand strategy, level production strategy, and mixed strategy to evaluate the fluctuations of demand. The demand chasse strategy will guide the operations management to match the rate of production to that of demand rate such as hiring more employees especially when demand caps. The level of production strategy will be ideal I the sense that it will guide the production crew assess varying inventory levels, accommodating order backlogs, and employing the desired marketing strategies (Mahadevan, 2009). The primary objective of employing the strategywill be to maintain solid workforce despite suffering from constant challenges related to production rate.
The company would consider adopting the mixed strategy if one of the strategies would fail to adequately address the fluctuations of demand.
Activity 3: Establishing Production Capacity
The third production activity will entail the process of determining the right capacity of print material to order and to process. The process will rely on the assessment of the demand report that will be provided in the preceding activity. The process will require the combined effort of operations and production managers to formulate a long term approach that on administering production capacity. Therefore, at this stage, the concerned people will make a comprehensive assessment on determining the right number of people that work in the printing department and timeframe of producing print media.
|1||The successive step will entail long term planning process that will involve determining the right capacity based on the demand and availability of the printing materials|
|2||Upon establishing the planned order, the production team will focus on creating production orders. The procedure will involve assessing whether the production facilities and labor would be able to process the orders on the stipulated time frame|
Activity 4: Actual Production Process
The process of printing material will start once the managers will have presented their assessment to the production unit. The primary activities that will be considered will includereceiving production orders and processing materials. Tis will be the highest crucial stage of the production plan since it wills determining the production goals of the company through meetingclient’s demands.
|1||Receiving production order from organizational and individual clients|
|2||Printing documents as specified by clients. the process will entail adherence to capacity and the specified quality|
The production schedule will be based on the project schedule. The schedule will state the starting date pf processing clients’ documents and the completing dates. To achieve acomprehensive schedule, the project schedule will comprise of summary elements and terminal elements to determine the work breakdown in the production project.
The company will focus on releasing printed documents on daily, weekly, or on a monthly basis depending on the capacity of client’s orders. Therefore, a sample production schedule could be as a shown in the Gantt chart below for weekly order.
|Week 1||Week 2||Week 3||Week 4|
|Receiving client’s orders|
|Assessing the capacity|
|Sorting material needed for printing|
|Organizing human labor to execute the order|
|Setting the date for processing|
|Sorting printed material for quality and quantity checks|
The project manager of the company will embark on determine the accuracy of the estimates of the production coststhe process will require intensive research on starting with cost of sales, price of raw materials, number of unit required with a specified trading periods and number of laborers that will be needed to execute the printing process.
The project manager will consider adopting the bottom-up estimate technique. The approach will require participation of lower-level employees especially those that will be deployed in the sales, production, and finance units. The process will be initiate by the company president who will provide the budget guidelines. The lower units will take initiative of developing the production budget for their units. The successive procedure will entail grouping and regrouping their budgets that will form a divisional budget. The company president will then receive the entire plan who will then present the budget to small budget committee. The committee will take initiative of reeving the components of the budget to check for coordination and consistency
Original budget estimate of the production cost
Real Colors Company
For the year ended December 31, 2015
|Quartet 1||Quarter 2||Quarter 3||Quarter 4|
|Forested unit sales||5000||7000||7,800||8,460|
|Add: Planned ending invest
|Total Production required||5,400||7,400||8,200||8,860|
|Less Beginning inventory||2,000||2,400||2,600||2,850|
|Units to be produced||3,400||5,000||5,600||6,010|
The above production budget indicates the original forecast of production in the first year of operation. The budget indicates that the planed ending stock will decline as the quarterly tradingperiod’s progress.
The company anticipates to increase sales unites as the trading period progress. The planned ending inventory will remain stale throughout the first year of operations. The units to be manufacturewill be anticipated to increase as the trading period will progress.
The marketing executive of the Real Colors will assess the dynamics and attractiveness of the market in Los Angeles. The analysis will focus on defining the competitors, customers, and the market. The company will focus on conducting the SWOT analysis to analyze the intense of competition in the location of the business (Pahl, Richter, & University of Applied Science Berlin, 2007. Regarding marketing analysis, the focus of interest will include evaluation of the market segmentation, market size, market growth rate, market trends, market opportunities, market profitability, success factor, and distribution channels. The competitors and marketing analysis will incorporate customer analysis (Onkvisit& Shaw, 2004).
The company will have huge task of coping with stiff competition that will be posed by already established printing companies based in Los Angeles.Printing companies such as SLB Printing, FedEx Office Print & Ship, Anderson/ LA, LA Press Printing, and, SLB Printing among many other will pose serious threat to the company as far as competition will be concerned. The company will have to come up with competitive strategies using the SWOT analysis.
The strengths of the company will include strong management that will be capable of predicting opportunities, strong financial base, and ability to meet customer’s interest, competent workforce, ability to establish, and ability to formulate strategic planning.The major weakness will include the stiff competition posed by already established printing corporations andability to retain workforce willing to join the bigger printing corporations based in Los Angeles.
The company will benefit from various opportunities that will be available in the location. First, the U.S government encourages establishment of printing companies so along as they abide by rules and regulations, in other words, the US government established policies that do not restrict printing from conducting their operations. Therefore, as far as political environment is concerned, the company will have an advantage. Regarding, economic environment, the company will benefit from stable economic conditions in Los Angles. A big percentage of population based in los Angles lives above poverty level indicating that the company will secure a potential market’ the population in Los Angeles is dense, thus the company will have a opportunity of attracting massive customers.
Some of the threat that the company will face will include inability to create barriers to other printing companies, obsolete technology compared to other established printing companies, and natural calamity such as flooding and bad weather.
The company will focus on venturing marketing to cope with the stiff competition in the printing industries. The company will be sure to increase its marketing stake since the printing industry is big in Los Angeles. Secondly, the marketing trends are also promising in the sense thatit will be anticipated to be on an upward trend. The company will employ customer analysis, choice modelling, risk analysis, marketing mix models, product research, and competitor analysis to detriment the trends of the market in the target location.
The marketing growth rate will be anticipated to be high becauseprinting services have become significant for years. The company will consider employing sales growth and market trends that will complement printing products in the target locations indicators such as market saturation and absence of substitute products will guide the com to anticipate the desired market growth rate.
The company will gain market opportunities from supporting marketing tough favorable social and political support. The profitability of the market will be determined by factors such as supplier power, barriers to entry, and buyer power. Preliminary study indicates that the company will be obliged to determine market profitability that will be primarily determined by buyer power.
The management of the Real Color will comprise of three levels including the executive, middle management, and the junior staff.
The top management will comprise of the company president/ owner, the company secretary, and treasurer. The primary responsibility of the company president will be to head the operations and administrative managers. He will also take responsibilities of approving the strategies provided by managers.
The middle management will comprise of the human resource manager, finance manager, production manager, marketing manager, chains and supply manager, and the sales and purchases manager. The middle management will take responsibilities of heading their departments, delegate duties to their juniors, and report to the company president. Additionally, they will be expected to formulate strategies operations formulated by the company top executives.
The junior staff will comprise of all worker assigned in their respective units. The staff will mainly focus on achieving operational objectives as provided by the company top executive. They will take ultimate responsibilities in ensuring that their departmentscoordinate with other departments to ensure the company achieves smooth flow of administrative and operational objectives.
The following audience survey targets corporate and individual’s audiences
- Do you feel that there is need to establish a printing company in your vicinity?
- Yes. B. Not Certain C. No
- What kind of printing services does your organization needs?
- Daily services B. Weekly C. Monthly
- Does your community discourage your people from printing political and social cultural issues?
- What types of organizations dominate in Los Angeles?
- Manufacturing Firms B. processing firms C. Learning institutions D. Ancillary firms
- Describe the type of print media that your company mainly uses to communicate within the premises?
- How many time do you read newspaper, journals, books, periodicals, and magazines?
- Would prefer placing orders with a newly established printing company that will process your orders as instructed?
- How many pages of books, journals, newspapers, and magzines do you read in a day?
- Do you place printing order on demand or on timely basis?
- What technical changes do you wish to see in your orders?
- Normal Quality with Average price B. High quality with average price C. High quality with low Price
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