Marketing Assignment
This is a two part written project that will focus on the marketing aspects of your start up business. Please submit as one written assignment.
Part 1: Marketing Strategy
In three to four pages, address the following areas:
- Please describe the marketing strategy and then explain how you plan to use marketing strategies to promote your business.
- Include the necessary marketing research you either have done for your business or are planning to conduct. The costs of these items/activities should also be itemized and included in this section of the proposal.
- Include ongoing costs as well as one-time fees.
Part 2: Marketing Plan
In five to six pages, address the following areas:
- Create a marketing plan for your business. This can be an e- marketing, traditional marketing plan, or a combination of both.
- Discuss the benefits of market research.
- Include a SWOT analysis and explain the four Ps of the marketing mix in your marketing plan.
INTRODUCTION
Ourbrand’s name is “FIGUREOut”. It is garment retail store that caters to the needs and demands of the contemporary woman. We manufacture our products. Our brand specializes in clothing for all body types that an Indian woman could have. From pear to apple and from hourglass to petite. We, in our store have clothes that will suit them all. Also we have all women employees in our organization, from manufacturing to sales.
We have different sections in our store catering to each body type. These sections have tops and bottoms that will look good on the person having that particular body type, along with suiting prints and color co-ordinates.
The inspiration for this idea came from watching the girls and women, in colleges, markets, on the streets and everywhere around us. They are not aware of their body types, and therefore wear clothes that enhances their ugliness in physic instead of beauty. A tight fitted lycra t-shirt hardly suits a person having an apple shaped figure and similarly short t-shirts with low waist jeans doesn’t appeal on a woman with a pear shaped body.
Knowing that we are in a Fashion college where the Fashion sensibility and knowledge is quiet high than a student of some other field and still seeing all these fashion blunders happening inspired us to bring this to our concern. We believe every women is beautiful in their own respective ways and we are here to just give a direction to them.
We in our store encourage women to know more about their body shapes and types by offering them free consultancy and accurate measurements. Moreover, we also provide them a wide range of clothing that will look good on them, which will enhance their best features and camouflage their not so good ones. We want the independent contemporary Indian woman to know themselves better and realize that each body is different and has special demands. We want to make them feel comfortable in clothes that actually look good on them rather than settle for the few options available in the market. We want them to wear their attitude.
So shape counts…..(A SHORT RESEARCH ON BODY TYPES)
1 –
BananaHYPERLINK “/fashion-tips/im-banana-shaped” (Also known as Straight, rectangular or Ruler)
The waist is at least 75% of the chest or hips, which are virtually the same.
The banana body shape tends to lean with a boyish shape that has the same measurement for the shoulders and the hips with a waist measurement that is close to them. However, they usually have great legs. This figure type tends to look best in structured tops and jackets that help create or enhance your waistline.
2 –
Apple (Also known as ConeHYPERLINK “/fashion-tips/im-apple-shaped” or Triangle downward)
The waist is at most 75% of the chest, and the chest is at least 110% of the hips.
Although Apple-shaped women are characterized by big busts, they are often described as boyish or athletic because their shoulders are broader than their hips. But they are lucky to have the body type that looks great in almost every style. The waist is average and less defined. They have a smaller and sometimes flat bottom with slimmer legs. It is most complimented by simple fuss-free lines on the top and straight skirts or pants with interesting details or prints.
3 – Pear (Also known as Spoon or Bell or Triangle Upward)
The waist is at least 75% of the chest, and the hips is at least 110% of the chest.
Women who have heavy bottoms and small busts are said to have pear-shaped bodies. Most have a slim torso and rib cage and their waist may be smaller in proportion to their hips. They also have a fuller bottom and legs. Shoulder pads are the Pear’s best friend because they help to balance shoulders to hips. Also any details at the shoulders that help to extend the shoulder is good.
4 – Hourglass (Triangles opposing, facing in)
The waist is less than 75% of the chest or hips, which are virtually the same.
You have well proportioned shoulders that are in line with your hips. Curvy describes you the best and you have a small to average, defined waistline and an average to full bottom and many of you have great legs. Accentuating the waist is the key to giving the Hourglass it’s shape.
As many cultures consider this body shape as ideal and most desirable; many celebrities falsely claim hourglass measurements but actually rate closer to a straight figure or pear.
5 – Round
The waist is at least 110% of the hips.
While there are women who are round-shaped; it is more commonly found among men. The bust (chest), waist and hips have high proportion of fat. Apple shaped girls are defined by curve and width. Characteristics are full busts, waists and upper backs and often width around the middle leading down to slim legs. This figure type looks best in loose, unstructured designs. Avoid anything that brings attention to the waist.
www.totalfitness4transformation.com
IDEA AND BUSINESS OPPORTUNITY
·
What important customer problem are we solving?
1. Making the Indian clothing sector more advanced.
2. Make the women of our country aware about their body types and groom the existing ones.
3. Also, making them understand what clothes (fabric, color, print) will best suit.
4. Helping them to understanding what type of clothing will enhance their best features and camouflage their not so good ones, as we believe the right clothing adds on to the personality and confidence.
·
How are we going to do it?
1. Body scans that will help women visually see the type of body they have and also how different silhouettes, color, prints will appear on their figure.
2. Specialized and trained personnel who will assist them in understanding why a particular piece of clothing will suit them.
3. Clearly demarcated sections in our stores for easy understanding and a better shopping experience.
4. Feedback wall present in our stores which will help us in knowing and understanding our customers better.
5. Making people aware about our store through ads and promotions.
How many customers are there that are willing to buy from us?
1. Our customer is the contemporary Indian woman who is conscious, aware and independent and likes to keep up with the times.
2. Our customers are the women mass market who wishes to know their body better and dress according to it and not just be satisfied with the few available options in the market.
3. We wish to serve all those women who request specialized information but do not get any. We want to make shopping a better and wholesome experience for them.
4. Our customers are those who want to experience fashion with comfort at affordable prices.
·
Why can only we provide the solution?
1. We are offering a new concept to the Indian market which has not been touched upon as yet. We are the pioneers is this business.
2. The Women of this country are becoming more and more aware of their needs and want to look spic and span always. We are offering them free consultancy, and value added services on purchases regarding their body type and what garments will suit them and what will not.
3. We also offer them free body scans to help them analyse their body types better. This service has not been offered by any other brand in India.
4. We also have specialized trained personnel who will cater to each and every query and demand of our customers.
·
How can we defend against others?
1. The newness of our concept is the U.S.P. of our brand and the idea will surely appeal to the women market which is growing more and more. Not every women can afford a designed, customized fashion clothing to look good. We are the only ones giving women a customized shopping experience at affordable prices, in the true sense, at the nearest outlets.
2. The services that we offer, like the body scan and specialized assistance will help the women in being more Fashion forward and conscious.
3. Also there exists a huge need gap in the market in the women’s sector for specialized clothing for different body types. Our brand will help in filling that need gap, which no one has looked into yet.
“Our idea is something new for the Indian market as services like this are usually only offered for high-priced designer couture garments. We offer our customers specialized clothing which will suit each body type and we also offer them assistance and all the help they need. The garments range from casual day wear to party wear. We hope to help the women in making shopping and wearing each garment a wholesome experience which will help them in looking their best all the time.”
COMPANY OVERVIEW
FIGUREOut, a brand, who are the pioneers of opening a business line specializing in women body types and offering clothing line on such bases. It is owned by six members, who are its equal partners and founders of the company, rather brand. The company undertakes and supervises from acquiring raw materials, to manufacturing finished products, to supply chain, to sales, ads an promotion. The company norms take care of the legal issues, capital investments and profit distribution. The company is based in Gurgaon from where it operates to the different stores all over the country. Its production and training unit is also in Gurgaon.
“FIGUREOut is the new, ultimate shopping experience for women.”
It brings women a range of products and services that she can trust.
Over years of observance and understanding of women body types, FIGUREOut brings this new, organized, clothing sector to the market that is clear, specialized and trained on its ideas and believes that every woman has the potential to look good if channelized in right fashion direction. Individuals are bundles of vibrating energy and every energy should be given a right fashion direction to boost up ones confidence and personality, and when it comes to women, they are just full of unlimited energy. So, we believe in utilizing every bit of it to help mankind, thus provide them with comfort as well as fashion.
As a consequence of the constantly shifting vibrating energy within ourselves, we are forever changing in new ways and this time it is time to change in the direction of women’s fashion in depth and understand their body types to enhance their beauty, comfort and their over all personality and make them prepare for the fashionable world outside.
Our brand brings to all the women a product range acceptable by all minds, keeping the Indian society and ethics in mind. It provides in its range a clothing line of different body types, customized clothing, along with preferable prints, color coordinates, fabrics and silhouettes. It not only gives options and choices but also allows customers to visually try their options on their scanned body types so that they are satisfied by our services ones they leave our store.
Mission
We intend to make the women’s clothing market, in India aware about the different body types through our products and services offered. It is a very huge, mass market. We would make them aware about how important it is to know the correct body type to carry yourself and stay fashionable. Also as all the units in our company will be supervised and worked on by women, it would provide women employment and thus make them self- sufficient. We would offer comfort with expertise fashion awareness.
Objective /goals
· To increase awareness on different body types of women.
· To increase brand awareness that leads to loyalty.
· To create women employment
· To help women dress fashionably suiting their body types.
To extend the women’s clothing industry in India and provide solutions to the problem in women’s fashion.
Values
Our products preserve our core values of better clothing for Indian women by making them aware of their body types. We believe in simplicity and comfort and understand its needs for putting Indian women in fashion forefront in day to day lives. As fashion students we understand our duty to help women dress correctly. Also we believe in providing employment for women to make them self sufficient. In fabricating our products we adhere to the following points:
· All product line, management is taken care by women.
· None of the products are manufactured using child labour.
· Quality in product and service is our top priority.
· We provide women employment.
· Our products are made with perfection and our services are expertised.
· Respecting and valuing employees.
· Creating a performance oriented work ethos and a culture of mutual trust.
Our Vision
To be the most trusted brand that pioneers in giving fashion solutions to Indian women based on their body types. To create products which offer beauty, comfort, serenity and show a way to lifestyle by clothing.
Management team and Resources
Our entire line of business is run, supervised and managed by highly skilled, expertise designers from all over the world who had acquired specialized knowledge on areas that are required in our business. We use the best technology for efficiency. We hire trainers in areas of pattern making, garment construction and research. Also a group of individuals work on fashion forecast and newer body types to enhance the beauty of the Indian women.
We train only women as they would understand a women’s body type the best and can experience it as well. Knowledgably designers, trainers, researchers from across the globe are consulted for the best of clothing experiences in terms of fabrics, prints, textiles, silhouettes and color. On and off a team is sent all over the globe for research on newer ideas to make Indian women up to date.
We also manage our visual merchandising, ads, promotion by a highly expertise team who is aware of market trends and buying behavior from time to time. Every stream in the company from accounts, to legal issues, supervision, manufacturing, ads, sales and many more are all charted and managed with the most efficient technologies and man power.
Environmental analysis
It is divided into 2 parts:
· External analysis
· Internal analysis
External Analysis
PEST Analysis:-
· Customers have become more fashion conscious.
· Women are more advanced than before and have become more experimental with their clothing. They do not shy away from strutting their stuff.
· Nowadays, people want to look more slimmer and enhance their look as that creates an image in the society.
· People are more aware of the changing fashion.
· Media views play an important role in changing the demand of the customer.
· Technological advancement will also affect FIGUREOut.
· Special technology is required to determine the body shape of the customer.
· Changes in the taxation policy of the government.
Internal Analysis
SWOT Analysis:
Strengths:
· It is helping people by recommending them the kind of style that will suit them depending upon their body type. Hence it is solving customer problem.
· It is also technologically advanced. It has the required machinery which records the body silhouette of the customer on a screen to see what body type it is.
· It is known for research and development.
· It has separate sections of apparels designed for different body type.
· Each section has completely distinct designs. This is in terms of prints, colour, cut, patterns and overall make. This is to suit the particular body type.
· The company can gain with its not so expensive range.
· Unlike our competitors the apparels are not only for people who are obese but also people slender.
· The pricing will be reasonable.
· Our one of the major strengths will be customer service and customer satisfaction.
· Advertisement and promotion effectiveness.
· It is satisfying a big emotional need.
· Excellent parking facility.
· Fresh stock will be added regularly according to changes in fashion.
· Benefits will be given to the customers in terms of discounts on occasions like Valentine’s Day, women’s day and also special discounts to the member.
· Discounts on a minimum purchase of Rs 3000 which increases with the amount purchased.
Weaknesses:
· It is a new brand in the market and so it might take time to gain people’s trust and to become popular.
· Training of the workforce is require
Opportunities:
· It is giving an opportunity to experiment and bring a different concept in the market.
· It caters the mass market. FIGUREOut targets women of age group
14yrs to 46 yrs. This covers a major part of the market.
· None of the competitors have the technology or the skills that can match ours.
· Unlike our competitors the apparels are not only for people who are obese but also people slender.
· The company does not have many competitors in the Indian market.
Threats:
· High price products restrict the number of customers.
· Competition from the already existing brands.
· Thinking of effective marketing strategies and spreading the awareness to more and more women may prove to be tough initially.
COMPETITORS SALES ANALYSIS
The competitors in the market and the study of their movement in terms of sales.
Bizzare
Bizarre : the high fashion, eclectic, western clothes at Bizarre are funky and definitely a statement. One can experience high couture thats accessible and wearable at Bizarres chic showroom. The decor is an explosion of colour dotted with a wide range of retro and urban cool apparel. Bizarre stocks a mix of well crafted skirts, cocktail and party dresses, blouses, shirts, pants and capris. The clothes are funky yet wearable. The designs are generously enthused with crystals, embroidery and even crochet. Pitched as sexy women’s wear, Bizarre offers western clothes with a twist.
We have chosen bizarre as a competitor because of the same cliental, price range and product.
By analyzing their sales per day we can estimate our sales.
The approximate footfall in a day = 50
Area of the shop=1000 square feet.
Approximate sales in a day = 30 items.
Selling price of each item= Rs 2000
Estimation of the amount of sales per square feet =1920
Numbers of items being sold per month= 960
Ogaan Fashion store
Ogaan Fashion Store: A high fashion store that showcases upcoming designers and veterans like JJ Valaya and Ashish Soni. Shop in a lavish environment and sift through elegant designs from some of the countrys most happening talents. Ogaan is a fashion boutique that has successfully blended high couture with Indian designs, fabrics and styling. They are proud to showcase the newer talent from across the nation along with well known names like Raghuvendra Rathod, Madhu Jain, Pallavi Jaikishen and Salim Asgarally. Apart from Indian and western apparel, you will also find beautiful accessories like scarves, stoles, costume jewellery and silver artefacts.
By analyzing their sales per day we can estimate our sales.
The approximate footfall in a day = 50
Area of the shop=1500 square feet.
Approximate sales in a day = 6 items.
Selling price of each item= Rs 6000
Estimation of the amount of sales per square feet =Rs 768
Numbers of items being sold per month= 192
Anokhi
Anokhi Garments: a variety of ethnic comfort wear produced organically with traditional textiles and natural dyes. Anokhi are pioneers of several things, they were the first to retail well crafted, hand block printed and trendy western wear produced with ethnic motifs and prints. Consumers were not restricted to purchasing Indian wear in their favourite prints, they could well opt for shirts, skirts, harem pants and wraparounds. The Anokhi outlets themselves are very holistic in appearance, the colors are vibrant and natural, the styles are urban and pricing very competitive.
The approximate footfall in a day = 50
Area of the shop=1200 square feet.
Approximate sales in a day = 25 items.
Selling price of each item= Rs 1200
Estimation of the amount of sales per square feet =Rs 1200
Numbers of items being sold per month= 800
Fab India
The major portion of Fabindia’s product range is textile based. The textile-based product range includes ready-to-wear garments and accessories for men, women, teenagers and children; bed, bath, table and kitchen linen; floor coverings, upholstery fabric and curtains. Cotton, silk, wool, grass, linen and jute are the basic fibres used.
The approximate footfall in a day = 50
Area of the shop=1500 square feet.
Approximate sales in a day = 30 items.
Selling price of each item= Rs 1500
Estimation of the amount of sales per square feet =Rs 960
Numbers of items being sold per month= 960
Formula used to calculate average sales per square feet= sales per day/average sales of the show room.
Marketing
FigureOUT brand specializes in clothing for all body types that an Indian woman could have. This marketing plan illustrates our market segments and the strategies we are implying to get customers. Our unique focus is with a twist for each body type that gives us an advantage over our competitors by giving customers a new direction to wear their attitude. This fills a gap for not just traditional customers but expands our reach to people who would normally not wear certain type of clothing,
MARKETING PLAN
We will leverage social media and word of mouth for the vast majority of our marketing using platforms such as Facebook. This platform is widely used by the customers in our demographic market. We will make announcements via regular updates to our fan page on Facebook. RS.2500 is the charge for per day. So, RS. 1,25000 will be spent here as we will do it for 50 days p.a.
– We will also use our email marketing list which is comprised of people who have expressed interest in our stores and the media. We have segmented our email list so that we can send appropriate emails to media and different ones to actual/potential customers. Each of our postings to social media sites will include a trackable link so we know how many people click on each post. Using online tools like link redirectors, we can also see how many of readers and followers repost or forward such links. We will also include trackable links within our email marketing messages.
· We will be putting our stalls in malls like, Select City on certain days of the week for promotional purposes. RS.5000 is the charge per day. We will put up the stalls twice a month, hence it will cost RS. 10,000. Therefore, RS. 1,20,000 p.a.
· Distribution of promotional offers in the forms of pamphlets will be done along with move tickets at halls like PVRs, DTs and at the coffee shops like Barista and CCD to create awareness. Here, we would invest RS. 50,000, keeping 30paisa to be the cost of 1 pamphlet.
· Offer various discounts on special occasions like Women’s day, Valentine’s day , Mother’s day etc.
· Advertisements tie ups to be done with companies like phokotcopy.com wherein ads will reach out the students behind their photocopy material in schools and colleges. This would cost us to pay the company a lakh p.a. when per copy is Re. 1.
· We would have promotional offers which will offer discounts on certain timings of the day or certain days of the week .
· To offer loyalty bonus to our esteemed customers in the form of additional discount on second purchase of more than Rs2000 and etc
· Hoardings to be installed to make customer aware of the brand would cost 1lakh rupees p.a.
· Eye catching advertisements in print media will also be a part of our strategy and would have an investment upto RS .50,000.
· Various posters mentioned Y Figure OUT stands out from other brands and mentioning the out of box idea and a customer oriented staff will be put in lifts of malls like Ambience, Promenande Vasant Kunj. Here we would invest RS.40,000.
· Feedback forms for Rs. 40,000 to improvise and make the customer feel that “We Care” will be offered to customers coming to our stores.
Operational Department
Operational management is an area of business concerned with the production of goods and services, and involves the responsibility of ensuring that
business operations
are
efficient
in terms of using as little resource as needed, and
effective
in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of materials, labour and energy) into outputs (in the form of goods and services).
Operations traditionally refers to the production of goods and services separately, although the distinction between these two main types of operations is increasingly difficult to make as manufacturers tend to merge product and service offerings. More generally, Operations Management aims to increase the content of value-added activities in any given process. Fundamentally, these value-adding creative activities should be aligned with market opportunity for optimal enterprise performance.
Our garment store ‘FIGUREOut’ is open 6 days a week. The store operates from 9am to 10pm. We do not manufacture our products but get them made with the help of outsource help. New stock is added regularly depending upon the current trends. Our Supply chain management is a cross-function approach including managing the movement of raw materials into our organization, certain aspects of the internal processing of materials into finished goods, and the movement of finished goods out of the organization and toward the end-consumer. As our brand strives to focus on core competencies and becoming more flexible, we outsource to other entities that can perform the activities like procurement of raw materials and manufacturing better or more cost effectively. The effect is to increase the number of organizations involved in satisfying customer demand, while reducing management control of daily logistics operations. Less control and more supply chain partners led to the creation of supply chain management concepts. The purpose of supply chain management is to improve trust and collaboration among supply chain partners, thus improving inventory visibility and the velocity of inventory movement.
The operations department explains the functioning of our business and will account the biggest share (50%) of the remaining capital i.e Rs.1250000.
The department is divided into 3 parts:
Strategic
· Strategic network optimization, including the number, location, and size of warehousing,
distribution centres
, and facilities. The warehousing in our brand FIGUREOut is in the form of small stock rooms like in other brands which will store different sizes and pieces of our products. Our stock-keeping rooms and people in charge of the proper updates about our products have been allotted a budget of Rs. 1,00,000.
·
Strategic partnerships
with suppliers, distributors, and customers, creating communication channels for critical information and operational improvements such as
cross docking
, direct shipping, and
third-party logistics
.
·
Product life cycle management
, so that new and existing products can be optimally integrated into the supply chain and capacity management activities.
·
Information technology
chain operations: It is a big part of Operational department. IT is the backbone of any successful venture. Our IT department is allotted a budget of Rs. 2,50,000 to keep in line with the latest software and technology that we will need in our store. The technology will keep us updated about what’s happening around the world and will help us in serving our customers better.
· Where-to-make and what-to-make-or-buy decisions.
· Aligning overall organizational strategy with supply strategy.
· It is for long term and needs resource commitment.
Tactical
The tactical department will take care of the following functions:
· Sourcing contracts and other purchasing decisions.
· Production decisions, including contracting, scheduling, and planning process definition. The tactical department of FIGUREOut will keep a track of our production which is outsourced to ensure a good quality and timely delivery of our products. They will make a Time and Action plan according to which everything will work. Thus the Tactical department is allotted a budget of Rs. 3,00,000. They will also take care of:
· Inventory decisions, including quantity, location, and quality of inventory.
· The department is further allotted Rs. 1,00,000 for the transportation strategy, including frequency, routes, and contracting.
·
Benchmarking
of all operations against competitors and implementation of
best practices
throughout the enterprise.
· Milestone payments.
· Focus on customer demand.
Operational
The main operational department will take care of the following functions:
· Daily production and distribution planning, including all nodes in the supply chain.
· Production scheduling for each manufacturing facility in the supply chain (minute by minute).
· Demand planning and forecasting, coordinating the demand forecast of all customers and sharing the forecast with all suppliers.
· Sourcing planning, including current inventory and forecast demand, in collaboration with all suppliers.
· Inbound operations, including transportation from suppliers and receiving inventory.
· Production operations, including the consumption of materials and flow of finished goods.
· Outbound operations, including all fulfilment activities, warehousing and transportation to customers.
· Order promising, accounting for all constraints in the supply chain, including all suppliers, manufacturing facilities, distribution centres, and other customers.
Thus the operational departments is allotted a budget of Rs. 5,00,000 to ensure that
business operations
are
efficient
in terms of using as little resource as needed, and
effective
in terms of meeting customer requirements.
OUR LOGO
The silhouette is of a corset showing that our store deals with clothing for women.
The sign right under the bust is of infinity which shows that we deal with women for all shapes and sizes and also we would go to infinite extent to make our customers look good.
Under that is a sign of an apple wrapped around a measuring tape to show the customization we would provide and the stem is in the shape of “F” and the apple is surrounded by an “O” which states the name of our brand that is “FIGURE OUT”.
OUR CARRY BAGS
OUR STORE WALLPAPERS OUTSIDE
FLOOR CARPET GRAPHICS
KHAN MARKET
MAP
According to the map and the number of shops located in khan market shows that we have huge parking as we expect a lot of consumers in that market. It has all different types of stores from garment, books to electronics and departmental items.
This location is quite suitable for our brand as we deal with customized clothing line to make every woman feel special. Entirely our showroom offers clothing for ‘Real Women’. You will also see that the ambience is set keeping in mind the comfort and reality of women.
FLOOR PLAN
We have in particular used
Geometric Floor Plan
as we know that this floor plan is suitable for clothing and apparel shops.
It uses racks and fixtures to create an interesting and out-of-the-ordinary type of store design without a high cost.
Technologies within d retail space
We have most importantly set up a scanner for scanning women’s silhouette individually for them to serve the purpose of correct clothing.
Music
The music would serve women in the showroom to request songs as we know it we have to make them feel comfortable as that is of highest importance. There will be provision of new pop music for women by female popstars, meaningful songs. During morning hours there will be soft music playing and then as we grade towards the evening the songs keep going faster and towards pop-rock or pop. We would play English and Bollywodd music, both.
Scent
Lavender is considered to be the most comfortable aroma and will therefore be automatically sprayed in the showroom. Rose water fragrance would be sprayed early morning as that is the best for women in the morning to feel comfortable and joyous. As we again grade towards the evening we spray lavender.
Visual
As a wallpaper we have used the silhouettes of meaningful and real women in order to show the reflection of real women who is a mother, daughter, wife, mother-in-law, etc. To show every woman is important in their own way some are corporate women, housewife, etc. A woman is particular has certain roles which are not counted as professions like being a mother. In short the display is for the women to feel comfortable.
The wallpaper would look like this, as shown below :-
Furniture and Fixtures
2-Way Chrome Garment Display Rack
A traditional and economical way to display hanging clothing, these 2-way garment racks are adjustable and most commonly available in a chrome finish. Retailers have a choice of straight or slant arms, round or rectangluar tubing with a flat base or on casters.
Accessory Displays
Merchandise obviously sells better when it is properly displayed. There are many types of counter racks and accessory displays to show off small products and accessories. Accessory displays come in acrylic, glass, leather, velvet, wire and even cardboard. The small footprint of counter racks is excellent for use near the checkout in a retail store or at flea markets and trade shows.
4-Way Chrome Garment Rack With Slant Arms
Like the 2-way rack, this is a traditional and economical way to display hanging clothing. It is adjustable and most commonly available in a chrome finish. Retailers have a choice of straight or slant arms, round or rectangluar tubing with a flat base or on casters.
Body Forms and Mannequins
Body forms and mannequins bring fashion to life in a small selling space. Dressed models create more interest than clothing sold from display racks. There are many styles of mannequins available to retailers today, from traditional torso forms to modern wire forms.
Round Rack
The round rack comes in several sizes. The circular rack supports a shelf or basket, has adjustable legs and comes in a chrome or black finish.
Cube Units
Glass, plastic or wire cubes on a laminated base can be purchased together as a unit or designed from your own plan. Cube units work well for related items that may need dividers or other configurations for merchandise like clothing in various sizes and colors
Grid Merchandiser
Gridwall gondolas, displays and grid merchandisers are lightweight, flexible fixtures. Generally available in black, white or chrome, grid fixtures allow retailers to display a larger volume of merchandise in a smaller space. Grid fixtures are mobile and offer a sleek look to modern retail stores. These highly functional pieces are great for window displays, on the sales floor, or even for the customers to keep their belongings once they enter the showroom.
Slatwall Merchandiser
Gondolas and merchandisers constructed from slatboard bring a modern look to any retail store. These store fixtures used with slatwall hooks or shelves. This convenience offers retailers a flexible platform for creating stunning visual displays. Slatboard is available in many different laminated finishes and wood grains or paint-grade slatwall allows you to paint your own. Slatboard is heavy so be sure your merchandisers are on casters for more versatility.
Slatwall Panels
Slatboard is available in many different laminated finishes and wood grains or paint-grade slatwall allows you to paint your own. Slatwall hooks, shelves, brackets and other slatboard accessories help improve merchandising and sales.
Full Vision Display Case
Full vision showcases allow retailers to display a wide range of items such as jewelry, electronics and more. Sliding doors, locking mechanism, interior lighting and adjustable shelves offer several easy to view levels of display.
Wrap Counter
Curved or standard wrap counters are used for storage, rather than display. Modular units built with adjustable shelves are available in laminates or solid wood finishes. The wrap counter (or cash wrap) can hold bags, store-use items and more.
Cash Register Stand
Cash register stands may have a flat top, but generally feature a recessed top to allow the cash register or POS system to sit securely. Undercounter storage with one or more adjustable shelves allow retailers to hold more in the checkout area. Available in a variety of glass and wood finishes.
Gondola Shelving Unit
Gondola shelving units have been around for a very long time. The versatility makes gondolas easy to install and change on a frequent basis. The pegboard backing and shelving comes in several heights and depths. It is also available in a variety of colors, but the most common is almond. Gondola shelving can be used to create end caps, wall units or center aisles.
Dump Bins and Tables
The dump bin has been around for a very long time. Perfect for promotional or clearance items, dump bins and dump tables work well for smaller products and placed near the front of the store. Stacking baskets, spinning dump racks, hanging bins and other utility tubs are generally durable and inexpensive.
Light Fixture Indoor Lighting
Lighting in our store makes it bright and cheery. The right lighting here will highlight our clothing and helps to hide some structural flaws. We have in our showroom certain fixtures for them to highlight our garments and women, as given below :-
Ceiling Fixtures – These are lights which are attached to your ceiling and generally focus the light downward and out. They’re fairly typical and do a good job of lighting a large area fairly evenly.
Pendants – Pendant lights are hung from the ceiling and mainly focus the light downward. They’re great for work areas. Chandeliers are a type of pendant light, but they’re usually much showier and they can cast light in every direction.
Portables – This term is used to cover a wide variety of lighting options from inexpensive clamp on lights to expensive Tiffany desk lamps.
Track Lighting – These lights were a fad in the 80’s but are now used more sparingly and with purpose in mind. They’re great for displaying artwork or highlighting certain areas of your home. They also work well as task lights. They are easily swiveled and can be adjusted and readjusted to give you just the right effect.
Recessed Lights – Recessed lights continue to be very popular. They can provide a lot of light and can be placed over areas where tasks are performed. They’re actually a fairly inexpensive alternative to some ceiling fixtures and give a cleaner, more modern look.
Skylights
– Skylights use natural light to warm the interior of a home. They bring the sunlight into a home and filter it downward. Obviously, more expensive than buying a lamp, but the overall effect is dramatic and beautiful.We have used a good lighting system must have a combination of proper lamps and light fixtures. These two are commonly called the fixture unit
There are devises that come with light fixtures and they include;
* Aperture
* ballast
* Reflector
* Light
* Power source
All these above used light fixtures make it possible for a showroom to look presentable and spaced.
FLOOR PLAN
BIBLIOGRAPHY
SITE-
www.weight-loss-health.com.au/body_shape1.htm
, DTAE- 15TH MARCH ,09, TIME- 10.45 PM
SITE-
www.totalfitness4transformation.com/Fitness_S…
, DATE -15TH MARCH, 09, TIME- 10.00 PM
SITE-
http://EzineArticles.com/?expert=Susan_Patterson
, DATE -15TH MARCH,09, TIME- 10.00PM
SITE-
www.womens-dresses.net/trends/
, DATE- 15TH MARCH, 09, TIME- 10.00PM
SITE-
www.egypt-fashion.com
, DATE -15TH MARCH, 09, TIME- 9.45 PM
Trial Room
Mirror
Seat
Store display
Garments and display
Garments
Shelf to keep customer’s stuff
Entrance
Display
Cash Counter
Scanner machine
Mirror
Different Racks for different body types
Seats
Mirror
BusinessPlan
Type of Business
Ours is a garment retail store that caters to the needs and demands of the contemporary woman. We manufacture our products. Our brand specializes in clothing for all body types that a woman could have. From pear to apple and from hourglass to petite. For different body shapes please visit to
www.totalfitness4transformation.com
We, in our store have clothes that will suit them all. Also we have all women employees in our organization, from manufacturing to sales.
We have different sections in our store catering to each body type. These sections have tops and bottoms that will look good on the person having that particular body type, along with suiting prints and color co-ordinates.
The inspiration for this idea came from watching the girls and women, in colleges, markets, on the streets and everywhere around us. They are not aware of their body types, and therefore wear clothes that enhances their ugliness in physic instead of beauty. A tight fitted lycra t-shirt hardly suits a person having an apple shaped figure and similarly short t-shirts with low waist jeans doesn’t appeal on a woman with a pear shaped body.
SWOT Analysis:
Strengths:
• It is helping people by recommending them the kind of style that will suit them depending upon their body type. Hence it is solving customer problem.
• It is also technologically advanced. It has the required machinery which records the body silhouette of the customer on a screen to see what body type it is.
• It has separate sections of apparels designed for different body type.
• Each section has completely distinct designs. This is in terms of prints, colour, cut, patterns and overall make. This is to suit the particular body type.
• The company can gain with its not so expensive range.
• Unlike our competitors the apparels are not only for people who are obese but also people slender.
• The pricing will be reasonable.
• Fresh stock will be added regularly according to changes in fashion.
• Benefits will be given to the customers in terms of discounts on occasions like Valentine’s Day, women’s day and also special discounts to the member.
• Discounts on a minimum purchase of $
1
00 which increases with the amount purchased.
Weaknesses:
• It is a new brand in the market and so it might take time to gain people’s trust and to become popular.
• Training of the workforce is required
Opportunities:
• It is giving an opportunity to experiment and bring a different concept in the market.
• It caters the mass market. FIGURE Out targets women of age group
14yrs to 46 yrs. This covers a major part of the market.
• None of the competitors have the technology or the skills that can match ours.
• Unlike our competitors the apparels are not only for people who are obese but also people slender.
· It is satisfying a big emotional need.
Threats:
• High price products restrict the number of customers.
• Competition from the already existing brands.
• Thinking of effective marketing strategies and spreading the awareness to more and more women may prove to be tough initially.
Mission and Vision
A Mission statement tells you the fundamental purpose of the organization. It defines the customer and the critical processes. It informs you of the desired level of performance. (Answers Corporation, 2010).Hence Factors influencing Mission statement are:
· Stakeholders
· Internal resources and Power
· Values of top management
· Past development of firm
Mission statement should clearly define the organization’s products, markets and function (Technology and Processes. )
Our mission statement is:
“To bring women a range of products and services that she can trust.”
A Vision statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria. (Answers Corporation, 2010). A vision is more encompassing. It answers the question, “What will success look like?” It is the pursuit of this image of success that really motivates people to work together.
Our vision statement:
“To be the most trusted brand that pioneers in giving fashion solutions to women based on their body types. To create products which offer beauty, comfort, serenity and show a way to lifestyle by clothing.”
Create the structure and form of management applied in the business
Our structure and form of management will be as per objectives. Our objectives are:
· To increase awareness on different body types of women.
· To increase brand awareness that leads to loyalty.
· To create women employment
· To help women dress fashionably suiting their body types.
Hence our entire line of business is run, supervised and managed by highly skilled, expertise designers from all over the world who had acquired specialized knowledge on areas that are required in our business. We use the best technology for efficiency. We hire trainers in areas of pattern making, garment construction and research. Also a group of individuals work on fashion forecast and newer body types to enhance the beauty of the women.
We train only women as they would understand a women’s body type the best and can experience it as well. Knowledgably designers, trainers, researchers from across the globe are consulted for the best of clothing experiences in terms of fabrics, prints, textiles, silhouettes and color. On and off a team is sent all over the globe for research on newer ideas to make women up to date.
We also manage our visual merchandising, ads, promotion by a highly expertise team who is aware of market trends and buying behavior from time to time. Every stream in the company from accounts, to legal issues, supervision, manufacturing, ads, sales and many more are all charted and managed with the most efficient technologies and man power.
Evaluate the roles that your structure, management and the leadership foundation you created will play in the performance of the organization
Our philosophy will have following elements:
· Honesty and integrity
· Innovation
· Team work
· Customer centric
· Social responsibility
· Hiring right kind of employees
http://trainingpd.suite101.com/article.cfm/corporate_value_performance_review
Dreher and Dougherty (2001) state that hiring the right people means more than just securing employees who possess the knowledge, skills and abilities required to perform a particular job; these people must be able to acquire new knowledge and skills as jobs and environments change. Hence hiring right kind of people is of utmost importance. We actively embrace the need to behave in socially responsible ways and we take care of the needs of different stakeholder groups.
Selection policies:
It will have following aspects:
· Right Selection strategy for selecting right kind of employees
· Judicious performance appraisal of employees
· Proper training to upgrade the skills
Diversity policies
As per Nestle US, “Nestle believes that our people are the source of our competitive advantage, and our success depends on having a work environment in which every individual can contribute his or her unique skills to help us achieve the very best performance. We respect all individuals inclusive of their race, color, religion, gender, age, sexual orientation, national origin, gender identity, disability and/or veteran status. Our goal is to attract and retain world-class talent that reflects the diversity of our consumers, creates products that are relevant to them, and achieves excellent business results.
Thus our plan will be based on valuing diversity. We will have following action plan:
a) Effective Leadership
This will help in guiding the organization to bridge the gap between diversity to the organizational mission and to communicate the importance of a commitment to diversity in order to achieve that mission. Leader should encourage all employees to embrace diversity.
b) Laying down specific measurements criteria which act as an indicator of diversity.
c) Training and education is necessary for awareness and inculcating diversity into the organization culture. Provide diversity training to help all employees see the value in diversity.
d) The alignment of management systems inorder to improve diversity.
e) Continuous follow up for greater accountability. (AED, 2009)
f) Recruit broadly.
One should be open to get a diverse applicant pool. Avoid relying only on referrals from current employees, since this tends to produce candidates similar to your present workforce.
g) Select fairly
Make sure the selection process is fair and free from discrimination.
h) Thinking globally – acting locally
Marketing Plan
Marketing research is extremely important us to understand the peculiar dynamics, characteristics, competitive scenario, consumer taste and preferences. Market research provides an informed view of the relative attractiveness of each unique market across the world and provides a firm platform to organizations that are looking to exploit growth opportunities in different markets.
In layman terms, market research can be defined as an activity aimed at providing extensive, in depth information about the characteristics, trends, features and dynamics of target market of an organization to assist the marketers in making important marketing decisions pertaining to price, promotion, distribution, etc. Market research is a preliminary step in marketing strategy that provides a strong platform for other marketing strategies to follow. Market research also helps in continuously monitoring the trends, changes in the business environment and provides constant guidance to marketing managers in terms of modifying/adapting their strategies to suit the market conditions.
Official definition of market research as per American Marketing Association:
“Marketing research is the function that links the consumer, customer, and public to the marketer through information – information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications.”
Reference: http://www.marketingteacher.com/Lessons/lesson_marketing_research.htm
Both primary and secondary research is extremely important to us. Secondary research allows marketing team to evaluate existing published sources about the different markets as well as lighting industry in general. It is not only cost effective for to purchase the secondary research reports available from various research firms as well as freely available information from the web, but also provides a strong platform for the company to validate the findings of such reports via Primary research. Primary research is very useful because it allows the company to conduct customized, ground level research with buyers as well as competitors and thus, gather first hand information about the market. Primary research allows the company to validate the findings of the secondary research.
In-depth research is required to gauge the degree and importance of consumer needs. Hence the company should continuously do research to understand the needs of the consumer and to offer the products accordingly.
Additional research resource:
http://www.smallbusinessnotes.com/operating/marketing/marketresearch/benefits.html
MARKETING Mix
Promotion
We will leverage social media and word of mouth for the vast majority of our marketing using platforms such as Facebook. This platform is widely used by the customers in our demographic market. We will make announcements via regular updates to our fan page on Facebook.
We will also use our email marketing list which is comprised of people who have expressed interest in our stores and the media. We have segmented our email list so that we can send appropriate emails to media and different ones to actual/potential customers. Each of our postings to social media sites will include a trackable link so we know how many people click on each post. Using online tools like link redirectors, we can also see how many of readers and followers repost or forward such links. We will also include trackable links within our email marketing messages.
Distribution of promotional offers in the forms of pamphlets will be done along with move tickets at cinema halls to create awareness. Offer various discounts on special occasions like Women’s day, Valentine’s day , Mother’s day etc. Advertisements tie ups to be done with companies like phokotcopy.com wherein ads will reach out the students behind their photocopy material in schools and colleges. We would have promotional offers which will offer discounts on certain timings of the day or certain days of the week .
To offer loyalty bonus to our esteemed customers in the form of additional discount on second purchase of more than $100 and etc. Eye catching advertisements in print media will also be a part of our strategy . Various posters mentioned Y Figure OUT stands out from other brands and mentioning the out of box idea and a customer oriented staff will be put in lifts of malls.
Product
Women are becoming more and more aware of their needs and want to look spic and span always. Our brand brings to all the women a product range acceptable by all minds, keeping the US society and ethics in mind. It provides in its range a clothing line of different body types, customized clothing, along with preferable prints, color coordinates, fabrics and silhouettes. It not only gives options and choices but also allows customers to visually try their options on their scanned body types so that they are satisfied by our services ones they leave our store.
We are offering them free consultancy, and value added services on purchases regarding their body type and what garments will suit them and what will not.
We also offer them free body scans to help them analyse their body types better. We also have specialized trained personnel who will cater to each and every query and demand of our customers.
Placement
Poinciana, Fl is quite suitable for our brand as we deal with customized clothing line to make every woman feel special. Entirely our showroom offers clothing for ‘Real Women’. You will also see that the ambience is set keeping in mind the comfort and reality of women.
Pricing
The various factors which will affect the company’s pricing policy are the costs, competitors, positioning, strategy, government regulations etc. Pricing objectives that the organization may consider are as follows:
1) To maximize the revenue of the organization
2) To ensure long term profitability of the organization
3) To provide a product which gives value of money to the organization
4) To enhance the brand image of the organization
Skimming the cream pricing- This means to set the rates of your products higher than the others. This pricing strategy is adopted when you target the niche’ market. Under high pricing policy, higher prices are changed during the initial stages of the introduction of a new product.
• Producer fixes higher prices to recover initial investment as soon as possible.
• A marketer may change higher prices in order to restrict the demand to the level which he can easily meet.
• Demand is likely to be more inelastic with respect to price in the early stages of Introduction.
Operational Plan
The first part involves discussing the daily operations of the women garment store. If you are in a production environment, please provide detailed instructions on how you plan to manufacture your product.
Operations traditionally refers to the production of goods and services separately, although the distinction between these two main types of operations is increasingly difficult to make as manufacturers tend to merge product and service offerings. More generally, Operations Management aims to increase the content of value-added activities in any given process. Fundamentally, these value-adding creative activities should be aligned with market opportunity for optimal enterprise performance. (Wikipedia, 2010)
http://en.wikipedia.org/wiki/Operations_management
Our garment store is open 6 days a week. The store operates from 9am to 10pm. New stock will be added regularly depending upon the current trends. Our Supply chain management is a cross-function approach including managing the movement of raw materials into our organization, certain aspects of the internal processing of materials into finished goods, and the movement of finished goods out of the organization and toward the end-consumer.
Following are the details of the production department
Physical resources required
We would require a proper design house with different departments for the designers, administration staff, manufacturers etc. apart from the building we also would need a storehouse and a store to start with. As for the other resources we would require different types of sewing machines, pre cure machines, finishing machines, computers etc. Following will be the part of the production process
Design department
Before designing we will be doing a lot of research and surveys based on our competitors as well as our target customers and then accordingly we will design clothes which are unique, trendy, comfortable for our consumers.
Sampling department
In the sampling department prototypes and size set samples will be made in actual fabrics and trims. All the patterns will be made in this department and then forwarded to the production department. Also samples print, embroidery, and other surface treatments will be made in this department. All the approved samples will be sent to the production department for production.
The sampling department will be responsible for purchase of all the raw materials like fabrics, trims, fastenings etc.
There will be one sampling manager and one merchandiser who will take care of all the activities and there will required support staff like tailors, patter makers etc.
Manufacturing department
All the marker modes and spreading modes will be decided in this department. The stitching will be done as per assembly line system. Also dyeing and printing of fabrics will take place here. Machine embroidery and hand embroidery will also be done here. Finishing will be done as per the garment and design requirements. Their will be quality controllers who will check the quality of the garments in terms of stitch quality, print and embroidery quality, color fastness, fabric strength, stain removal, garment proportion etc. Also packaging will be done here. All the packed garments will then be sent for warehousing and then to the retail stores. There will be one production manager and one quality controller and pattern masters, tailors embroiderers and other laborers involved in this department. Hence it will have following sub processes:
CUTTING DEPARTMENT:
Cutting means to cut out the garment pieces from layers of fabric with the help of cutting templates. Generally the marker is applied (drawn, traced, sprayed, stuck, clip, pinned) on the top ply of a lay. Cutting often is carried out n two stages; rough cutting and the final cutting. In the first section the fabric is spread into a lay. A lay consist of multiple plies. Then a cutting marker is applied, this is a cutting lay.
In the second section the individual pieces are cut out roughly or accurately with an electrically driven knife. Next, various important reference point such as pocket folds and notches are marked.
The final accurate cutting of the pieces may be done with templates and a band knife. This procedure allows a high precision to be achieved.
Sewing process:
Sequence of seams to be stitched is determined before the sewing starts. Which part will be joined first, what stitches will follow one another, etc. are decided. However, some stitches have to be necessarily done before or after another stitch. In the example above, the decorative stitches must be done first followed by the joining stitches. Embroidered patterns also follow the same sequence but sometimes in clothing items like hats, decorative stitches or embroidery is done after the production of hats and with the help of embroidery machine.
FINISHING:
The term finishing refers to the term where the fabric is given the final touch for the end use. It is the last stage of the process.
It includes a lot of steps thread trimming, wet processing, finish pressing, ticketing, tagging and final packaging.
Logistics department
The logistic department will handle the warehouses and transportation of goods from the factory the warehouse and from the warehouse to the retail store.
There will be one logistic manager, warehouse manager and other support staff in this department
For the second part, suppose that you are either using offshore manufacturing or have outsourced services to another country. Please evaluate how economics, the government, and laws could affect value creation from a global context.
As per tutor2u, “A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.” As our brand strives to focus on core competencies and becoming more flexible, we outsource to other entities that can perform the activities like procurement of raw materials and manufacturing better or more cost effectively. The effect is to increase the number of organizations involved in satisfying customer demand, while reducing management control of daily logistics operations.
Moreover we are off shoring manufacturing process to achieve cost optimization. Cost optimization is the idea of orienting spends to deliver maximum value to the business. Rather than across-the-board cuts that may adversely impact competitiveness, companies should examine all expenditures to determine where cuts can be made and investment realigned to ensure positive business outcomes. Hence we are Right sizing the employees for value addition to the business in terms of strategy by reducing the baseline costs of the business, while maintaining acceptable service levels.
Let us discuss the benefits of offshore manufacturing:
a) By manufacturing the product in house it could lower costs if the firm is more efficient in that production activity. If a firm has the need for substantial investments for the component it will benefit them to keep it in house than to invest in another company that may abuse the relationship. Also by making the component in house the firm can protect its product technology and improve the scheduling. By protecting the technology the firm can remain more competitive, improve the schedule can save with production costs.
If the firm is not more efficient in the production activity they could be losing money trying to make the component in house. The same goes for investing in their own company if another firm already has the technology for the production or if the technology can easily be copied.
b) Outsourcing creates a strategic flexibility; the firm can switch orders as needed. It is also good if the location for manufacturing a product becomes risky because of political risks. It can also lower the costs if the firm cannot produce the product as efficiently as another. Outsourcing may also bring in more orders from the country it is in.
There are certain limitations too. One main disadvantage is loss of jobs and this will not be good for the employees. Thus the management has to make the balance between the commitment to the shareholder and the commitment of community can be brought out by having proper corporate governance. US government will also lose revenues and there can be problems of unemployment.
My final recommendation is that the company should outsource those activities which are non core activities. The activities which are routine in nature. The critical activities should not be outsourced.
Hence the most important step in this regard is to run thorough background checks on potential offshore partner companies and their employees, including a comprehensive check on the potential offshore vendor’s financial stability and its retention rates for employees. If a company comes to the conclusion that offshore outsourcing is necessary, I would recommend that the company strike a balance between American jobs and outsourcing. References:
Management Team
Our entire line of business is run, supervised and managed by highly skilled, expertise designers from all over the world who had acquired specialized knowledge on areas that are required in our business. We use the best technology for efficiency. We hire trainers in areas of pattern making, garment construction and research. Also a group of individuals work on fashion forecast and newer body types to enhance the beauty of the women.
We train only women as they would understand a women’s body type the best and can experience it as well. Knowledgably designers, trainers, researchers from across the globe are consulted for the best of clothing experiences in terms of fabrics, prints, textiles, silhouettes and color. On and off a team is sent all over the globe for research on newer ideas to make US women up to date.
We also manage our visual merchandising, ads, promotion by a highly expertise team who is aware of market trends and buying behavior from time to time. Every stream in the company from accounts, to legal issues, supervision, manufacturing, ads, sales and many more are all charted and managed with the most efficient technologies and man power.
Describe the team concept, group dynamics, and the strengths and weaknesses of business teams.
Teams normally have members with complementary skills and generate synergy through a coordinated effort which allows each member to maximize his or her strengths and minimize his or her weaknesses. (Wikipedia, 2009) Our team will have following characteristics:
1. Members sharing leadership responsibility and rotating other roles as needed.
2. All participating in idea generation, problem solving, and decision-making.
3. Members showing support, respect, and trust for one another.
4. All taking actions and doing work that is necessary to reach team goals.
5. Members managing conflict by confronting issues and inappropriate behaviors.
http://www.smallbusinessdelivered.com/fivecharacteristicsofagreatteam.html
Three potential constraints that might interfere with the CEO’s expected benefits of team-based decision making and creativity:
A) Miscommunication between team members:
Miscommunication can lead to conflicts in the organization. Effective communication skills have to be developed to make the work place atmosphere more congenial.
B) Conflict due to difference in personality and view points.
C) Conformity due to peer pressure
This can be a big bottleneck to independent thinking and out of box solutions. This may lead to rigidity and suppressing of new ideas. (Canterbury, 2009)
D) Other issues can be group polarization, teamwork stressers and self limiting behaviour
Describe management philosophy concerning communication, and organizational culture.
Our Management philosophy will serve as a framework to guide the daily actions and decisions of employees and represents the standards that employees will use to measure all individual and collective actions.
http://www.copyright.com/ccc/viewPage.do?pageCode=au77
Our philosophy will have following elements:
· Honesty and integrity
· Innovation
· Team work
· Customer centric
· Social responsibility
· Hiring right kind of employees
http://trainingpd.suite101.com/article.cfm/corporate_value_performance_review
Organizational culture is the personality of the organization. Culture is comprised of the assumptions, values, norms and tangible signs (artifacts) of organization members and their behaviors.
http://managementhelp.org/org_thry/culture/culture.htm
Organizational culture is the set of values that controls behavior, determines how organizational members interpret the environment, and helps achieve a competitive advantage. As per MCNay model “Our culture is enterprising” This is because we believe in working in teams, warm culture and participative leadership
Discuss what Leadership actions I would take to adapt my business should the following happen in the first three years of operations:
Leadership styles
Leadership style is the manner and approach of providing direction, implementing plans, and motivating people. (Nwlink, 2009) The style that individuals use will be based on a combination of their beliefs, values and preferences, as well as the organizational culture and norms which will encourage some styles and discourage others.
– The manufacturer has a labor strike that may last for 6 months.
Here I will use bureaucratic style to ensure operatives know the consequences of labor strike. I will arrange for outside contractors to source the product.
– Three more competitors emerge who are now in direct competition with my company in product quality and price.
I will adopt participative style of leadership in this situation to develop innovative solutions with my team for facing competition effectively.
– I have had to lay off half of my employees and the rest are disheartened as a result.
I will adapt charismatic leadership style to ensure operatives understand the need of retrenching half of the employees and to boost their morale.
BIBLIOGRAPHY
Hutchens, S. (1998). The Marketing Mix and Product. NPS Marketing.
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http://www.nestle.com/SharedValueCSR/Overview.htm
http://www.associatedcontent.com/article/496303/nestles_philosophy_on_diversity_pg2.html
http://www.aed.org/ToolsandPublications/upload/diversity_public_service .
http://en.wikipedia.org/wiki/Training.
http://www.allbusiness.com/human-resources/workforce-management/236004-1.html.
Whellen &Hunger, Strategic Management.
http://tutor2u.net/business/strategy/competitive_advantage.htm
http://en.wikipedia.org/wiki/Experience_curve_effects.
http://www.smallbusinessdelivered.com/fivecharacteristicsofagreatteam.html
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