Business Development And Value Creation Business Plan Assignment Sample

Business Development And Value Creation Business Plan

1. Introduction - Business Development And Value Creation Business Plan

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A thorough business plan that specifies a company’s primary operations, goals and method for achieving those goals is called a business plan. The major goal of this study is to explore and evaluate a market opportunity inside the company’s broad platform. Efficient business planning is needed to showcase a new venture to clients (McKeever, 2018). Commercial development can only be achieved via meticulous record-keeping and foresight in investing decisions. Managers and advisors at the firm have benefited greatly from the company’s core strategy and product evaluation in bringing new goods or services to market in a way that is both profitable and seamless.

The total planning process is predicated on the precision with which value is created depending on market or customer segments. This will demonstrate to users how the corporate strategy should be conducted in order to develop accurate company ideas. This report will also discuss the unique target sales and economic plans.

2. A short business/Industry overview

“Doctor Air” will primarily manufacture aromatic room air filters that encompass an active antibacterial equation that kills airborne microbes, viruses, and other microbes that can cause numerous types of infections (Overbeek et al., 2021). Specifically, this venture will discuss the critical need for people to fully clean their surroundings in order to prevent the transfer of the COVID-19 infectious disease and a wide range of other illness bacteria, in addition to the need to relaunch and perfumery the air, thereby going to renew indoor environments. This proposal of business will finally start from Bristol. As a consequence, the company will be in charge of both the inside and outside care and disinfection of the building. 

3. Market research

The COVID-19 pandemic has led to a shortage of hand sanitisers in the United Kingdom, which has led to a significant increase in consumption. Sanitiser advertisements are springing up across the country as the need for and selling products continue to rise. Coronavirus illnesses in the United Kingdom have risen dramatically, but the country has been slow to respond to the outbreak. COVID-19 was the subject of a heartfelt plea from the administration to businesses. Sanitisers are also being developed by several new companies. BrewDog, the British beer mogul, has jumped into the race by switching to hand sanitiser manufacture. Hand sanitiser has become more popular in the United Kingdom (www.fortunebusinessinsights.com. n.d). COVID-19 is projected to have a significant influence on the hand sanitiser market because of the rising quantity demanded throughout the world.

Based on the analysis it has been seen that the implication of the coronavirus within the short term is the big cause of the extreme growth of sales of sanitiser. In 2020, it will increase from 5.06% to 45.71% which is expected to implement 1.88 USD billion this year. Over demand from the customers are the cause of out of stock products and the demand from the customers are constantly increasing.

4. A description of the product or service and why the product or service is needed

The company’s aerosol spraying is very good for use in restricted locations. The spray will be made using a scientifically recognised composition that is effective against a broad spectrum of disease-causing organisms, including the COVID-19 virus, while also leaving a pleasant odor. Users will be able to select from a range of spray scents. It is particularly pertinent in light of the current epidemic, which requires that each individual lives in a sanitary and hygienic environment to minimize disease transmission (Lahrich et al., 2021). This firm will address the current demand for people to clean their surroundings effectively in order to prevent the spread of the COVID-19 virus among other disease-causing germs, as well as to keep the air pure and fragrant, revitalizing interior places. As a consequence, the organization will be responsible for the upkeep and sanitizing on both the inside and outside.

The immediate business goal is to build a business around a pressing need of the hour, especially air processes related, thereby helping to the effort of pandemic prevention while also making a profit. Once a certain amount of net financial income is reached, the firm’s ultimate intention is to make a social commitment by donating a proportion of overall revenue collected from sales to the proper therapeutic of COVID-19 patients. By doing so, the company intends to help the government’s attempts to reduce the pandemic’s issues.

5. The Target market

The general public will be the target market for the new business since they will be required to go to work during the COVID-19 outbreak and wish to prevent polluting interior locations with germs that may be present on the outside surface of their clothes or skin, respectively (Lahrich et al., 2021). First and foremost, the group would target personnel who work in health-care facilities such as clinics and pharmacies, wherein people suffering from a wide range of disorders routinely gather and interact. Ultimately, proprietors of physical venues where a large number of customers gather to make transactions in the targeted market sector will be included in the organization’s membership roster. Doctor Air will pursue clients in both rural and urban areas.

The identification of a precise number of people who will act as customers for a product or service is another crucial consideration when launching a new firm.

A wide range of large retail stores around the country as well as the nation’s key online shopping sites will carry the product. The feature will be sold for purchase in both retail and online when it is released. A properly-directed video clip will demonstrate to the public at large the effectiveness of the product as well as the legitimacy of its chemical structure. Copies will be provided to the owners of major retail establishments at no cost. Additionally, video content will be available on the internet purchase platforms for buyers to view and evaluate the company’s usage.

Furthermore, the clients will be drawn from the company’s primary market segmentation. It improves marketing techniques and audience engagements, promotes brand awareness and loyalty, and may even result in better products and services as a consequence of the process.

6. Marketing strategy

7. Value proposition

Marketers are no longer limited to attractive words and commercials; their responsibility has expanded to encompass an awareness of the attitudes of their target audiences. It is vital for businesses to understand how their consumers genuinely feel about their business and the elements that influence their level of customer loyalty (Dwivedi et al., 2021). The purchase behavior of consumers is significantly influenced by their shopping experience. As a result, this organization goes above and beyond to guarantee that customers have a good and delightful experience. This company is willing to put in a significant amount of effort into changing customer perception and affecting profitable consumer behavior.

When customers purchase items from a company on a regular basis, the enterprise has identified a market niche. Similarly, customers who are faithful or repeat purchasers of this effort will benefit from a variety of price savings on the things. And, as the firm grows in size, they will become more closely associated with it for their personal benefit. It will help you create a positive relationship with others.

8. Organisation and Management

8.1 Legal Structure

The business will be constituted as a “partnership” between the three owners. Each partner would individually be accountable for the debts of the firm. In contrast to a corporation, a partnership is not a distinct legal body. As a result, the law would treat the partners and the firm as one entity, with each partner being jointly and severally accountable for the obligations of the other partners (Nunhes, Bernardo and Oliveira, 2020). The three partners would serve as “Chief Operating Officer (CEO)”, “Chief Operational Officer (COO)”, and “Chief Financial Officer (CFO)”.

8.2 Professional team skills Possessed by the Members of the Management Unit

The transferable and professional skills of each of the business partners involved in the enterprise are as follows:

The skills of Partner 1 (CEO) include:

• “Leadership“
• Flexibility“
• “Written Communication”
• “Verbal Communication”
• “Computer Literacy”
• “Personal Motivation”
• “Time Management”
• “Active Listening Skills
• “Public Speaking”

The skills of Partner 2 (COO) include:

• “Public Speaking”
• “Listening Skills”
• “Flexibility”
• “Time Management”
• “Teamwork”
• “Verbal Communication”
• “Written Communication”
• “Personal Development”
• “Computer Literacy”

The skills of Partner 3 (CFO) include:

• “Computer Literacy”
• “Verbal Communication”
• “Personal Development”
• “Numeracy Skills”
• “Listening Skills”
• “Verbal Communication”
• “Flexibility”
• “Numeracy Skills”
• “Time Management”

8.3 Roles and Responsibilities of each Member of the Management Unit

A CEO’s responsibilities, tasks, and job description should include the following:

• Interactions with shareholders, government agencies, and the general public on behalf of the enterprise.
• Developing and implementing the vision and mission of the business or organisation.
• Managing the company’s short- and long-term strategic growth.

Developing and carrying out the vision and goal of the business or organisation. The Chief Operating Officer (COO) is responsible for the day-to-day operations and administration of a business. The COO will report directly to the CEO and will be considered the second leader. A Chief Financial Officer (CFO) is responsible for a business’s financial operations. Financial planning, cash flow management, financial analysis, and recommendation of remedial actions are all tasks of the CFO.

9. Funding/Investment Requirements

According to the company’s estimates, it will need a seed capital sum of £30,000 in order to get started with production, administration, and marketing operations, as well as other essential physical and digital infrastructure. There will be three partners in this venture, each of whom will put in 40%, 30%, and 30% of the total investment, respectively, in the company. Each of the partners will get an equal share of any profits made through commercial activity.

9.1 Equipment and Set up Costs and suppliers

9.2 Transport Requirements

The raw materials will be transported without much difficulty since the area where the manufacturing unit will be set up is an industrial hub, with virtually every component available in the surrounding districts. 

9.3 Legal requirements

A partnership agreement will be signed in order to make sure that the business does not face any unnecessary legal issues in the future due to the internal or external factors.

9.4 Insurance requirements

Business insurance will be applied for since it would safeguard the company financially in the case of an unanticipated incident. It will include a number of policies protect every element of the company.

9.5 Other required Certifications

The following things will be required by the company:

• “General business license”
• “Professional/occupational licenses”
• “Federal and state tax identification number”
• “Sales tax permit”
• “Zoning permit”
• Health permits

10. Financial Summary

10.1 Costs and pricing strategy

It is planned that the items would largely be offered in 500 ml spray bottles. In the United Kingdom, a 500 ml bottle of sanitizer spray costs £5.30, whereas each bottle of Doctor Air will be sold for just £4.00.

10.2 Cash Flow forecasts

10.2.1 Realistic Cash Flow Sales and Costs Forecast for four years

10.2.2 Three-year projections, annual proposed sales and net profit only

The above figure indicates that the anticipated annual sales in the second, third, and fourth years are estimated to be £700,000, £800,000, and £900,000, respectively. The second, third, and fourth years are predicted to generate net profits of £418350, £511840, and £689380, respectively.

10.2.3 Notes and assumptions to cash flow and projections

The company is projected to repay £12,000 of the entire loan amount during the first year of operation, £12,000 during the second year, and the remaining £6,000 during the third year. According to the estimates, the business’s net sales and profit margins will gradually improve each year.

11. Conclusion

In conclusion, it can be sad Doctor Air is a realistic company concept that will be welcomed and appreciated by consumers because to its capacity to provide the type of protection that people want during a pandemic such as the present one. The product’s costs would make it accessible to consumers with a range of financial circumstances. Additionally, the business’s financial plan has been meticulously constructed, taking practical considerations into account, and it has been determined that the business will be able to repay its loan within three years of operation and generate a sizable profit in order to establish a strong presence in both domestic and international markets.

References

Dwivedi, Y.K., Ismagilova, E., Hughes, D.L., Carlson, J., Filieri, R., Jacobson, J., Jain, V., Karjaluoto, H., Kefi, H., Krishen, A.S. and Kumar, V., 2021. Setting the future of digital and social media marketing research: Perspectives and research propositions. International Journal of Information Management, 59, p.102168.

Lahrich, S., Laghrib, F., Farahi, A., Bakasse, M., Saqrane, S. and El Mhammedi, M.A., 2021. Review on the contamination of wastewater by COVID-19 virus: Impact and treatment. Science of The Total Environment, 751, p.142325.

McKeever, M.P., 2018. How to write a business plan. Nolo.

Nunhes, T.V., Bernardo, M. and Oliveira, O.J.D., 2020. Rethinking the way of doing business: A reframe of management structures for developing corporate sustainability. Sustainability, 12(3), p.1177.

Overbeek, D.L., Watson, C.J., Castañeda, N.R. and Ganetsky, M., 2021. A geographically distinct case of fatal methanol toxicity from ingestion of a contaminated hand sanitizer product during the COVID-19 pandemic. Journal of Medical Toxicology, 17(2), pp.218-221.

www.fortunebusinessinsights.com. n.d. Impact of COVID-19 on Hand Sanitizer Market Size & Share Forecast, 2026. [online] Available at: https://www.fortunebusinessinsights.com/impact-of-covid-19-on-hand-sanitizer-market-102719 [Accessed On: 25.12.2021