The Business Plan Assignment Sample

 Introduction

1. Description about the business

Arena Limited is a company that shall be dealing with production of sports material and selling them to both businesses and customers through online portals. It will seek to aim for young customers who are invested into athletic activities. This business will sell cricket and football gears along with few other materials related to other sports.

2. Thirlane of the business to the current global market of your selected industry

Recovering from pandemic times, the global youth population is gaining their field in sports context. This industry was globally valued at $470,403 million during recent past and is expected to grow by 7.2% by end of 2027 (Kim et al., 2020).

3. The unique selling point of your product or service

This business will aim to sell its products through online portals for minimum prices when compared with other peers. Their sole purpose is to market good quality products at competitive prices for developing low income group youth athletes.

Background

1. The current business context

Arena Limited is proposing to establish their own website through which customers can come into direct communication with them. Since this business is aiming to cater to low income youth members, directors are strictly following their regimes of minimum profits. Their sales shall be totally online allowing large audience to opt for their products.

2. The current market players with respect to the service or product

Big sporting brands like Nike, Adidas, Reebok, and Puma are giants in this industry. Alongside, Asics and New Balance are creating their own space.

3. Nature of the business – B2B or B2C? Explain.

This business is aiming to sell both businesses and customers through direct interaction with their organization. Customers around the world shall be choosing to purchase through online mediums (Matarazzo et al., 2021). Other business clients will be complimented by company personnel through direct meetings. It will help them expand their scope of business.

4. The operational and / or marketing gaps you find with respect to the current market players

Current brands operating in this market are selling high priced goods with limited opportunity for redressal of their complaints. In terms of promotion, they spend huge amounts for supporting sports arenas and other celebrity ambassadors.

5. Strategies to fill the gap(s)

Arena Limited will concentrate on promotion through social media channels. They will promote their product through intense marketing by local social media influencers. Constant advertisement on these platforms will help them attract customers through minimum marketing expenses.

The Process –Product Development / Service Delivery

Sales Target

Sales of this company have seemed to fluctuate during these 4 quarters. It is possibly due to seasonal demand for sports items. Moreover, their revenues have improved with inclusion of newer items for sale. Production cost remaining constant, profitability of this company is expected to improve with increase in revenue for each period.

Operations plan

Location – London, United Kingdom

Office space for operation – Corporate outlet in Central London with one meeting space for employees and executives. Flexible employment structure however allows employees to choose their own work stations. Executives have their own chamber whereas other employees distribute over existing space to commence their job roles. Departmental heads are assigned to operate from this location for unitarily handling different affairs in association with other members of that company.

Supply chain and distribution–

• Raw material is acquired from local suppliers at least costs.
• Such raw material is transferred to factory for processing purposes.
• Processed items and finished products are transferred to their warehouse.
• Order is received on online platforms and is scheduled for delivery through national courier systems.

As per this given diagram, inputs of this company shall be arranged by relevant departments. Human resource shall be responsible for manning particular areas which could complement definite business operations. Thereafter, production department will employ generous curiosity for acquiring raw material from suppliers. They shall also seek assistance from executives for planning their manufacturing infrastructure. As suggested by Ye and Kulathunga (2019), finance department will be assigned to take note of different financial perspectives of this organisation. Transformational process shall be enquired by service managers scrutinising product designs and maintenance of machineries. They will provide generous feedback to departmental heads thereby sanctioning inventory, quality, and costs. Outputs will be priced by company heads after seeking information from accounts personnel. Delivery will be planned through recognised sources for timely comprehension of their orders.

HR Plan

Organisational objectives of this firm is to establish a market amongst low income youth members. It is solely driven to upgrade sports and athletics amongst young people all around this globe. Before delivering in direct market, it is very important for this company to summarise such market demand (Min et al., 2019). This will serve as a base for human resource planning. Supply of human capital is expected to be normal while recruiting eligible candidates. Experienced industry personnel shall guide them towards their designated roles. Identification of gaps will help this department to plant appropriate people in such places. An action plan shall be prepared for delivery of successful targets.

Human resource planning is an important component for Arena Limited because it will launch this business for the first time. Entire planning will be suggested through proposed organisational structure which is based on individual objectives. In future periods, this organisation is expected to grow and operate from different nations. After few years, this company could probably expand in Asian countries seeking to handle customer demands locally through a similar operational structure. Local manpower shall be recruited every time to exhaust minimum profitability. Contribution by each member shall be evaluated on the basis of their productivity in terms of average sales per employee (Gigli et al., 2019). Performance of employees will help them gain superior appraisal and promotion at end of each financial period. Thus, a human resource manager shall be equipped with full power to add and subtract necessary job roles as per current and futuristic needs of this company.

Marketing Plan

Arena Limited is planning to invest in business of selling sports gear. Initially this business is planning to contemplate a general product line by introducing regular cricketing and football gears. Establishment of few of these items will help this business to gain consciousness from that market, realising their acceptance in that forum (Ndubuka and Rey-Marmonier, 2019). Accordingly, they shall be able to plan their product range and qualify minimum modification by persuading customers to opt for their brand. Packaging of their products are sought to be attractive with graphical emphasis and large branding of their organisation. It will help people to recognise their products and promote them cost effectively.

Their price ranges are supposed to be considered at minimum levels. This will help to attract customers by providing quality items at minimal prices. This will also suggest them an opportunity to build their brand against such existent giants in this industry. Global market of this company shall help them to cater to a larger audience (Mariani and Wamba, 2020). Moreover, sales through online portal shall equip them to enquire how people are reacting to their products. Social media is one proposed option for marketing their goods. It will help them to vouch for their brand at least expenses thereby affecting profitability by minimum margins.

Conclusion

In this above business plan, Arena Limited has been projected as a sports based company. This company is supposed to be based in London. It is aiming to operate in global markets through online portals. Target customers of this business are local low income group youth members. This business is aiming to create a client base amongst both direct customers and businesses. They shall promote their business through social media by influencing their customer range through constant advertisement. Therefore, this business is planned to cater quality products at minimum prices. Since it is dealing in multiple sports products, large group of customers are expected to express their demand through seasonal differences. Demand from customers is expected to vary based on their preferences of sports types. Human resource planning of this organisation is aiming to fulfil those gaps by appointing appropriate personnel for increased productivity.

Reference

Gigli, S., Landi, D. and Germani, M., (2019). Cost-benefit analysis of a circular economy project: a study on a recycling system for end-of-life tyres. Journal of Cleaner Production, 229, pp.680-694.

Kim, Y.H., Nauright, J. and Suveatwatanakul, C., (2020). The rise of E-Sports and potential for Post-COVID continued growth. Sport in Society, 23(11), pp.1861-1871.

Mariani, M.M. and Wamba, S.F., (2020). Exploring how consumer goods companies innovate in the digital age: The role of big data analytics companies. Journal of Business Research, 121, pp.338-352.

Matarazzo, M., Penco, L., Profumo, G. and Quaglia, R., (2021). Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 123, pp.642-656.

Min, S., Zacharia, Z.G. and Smith, C.D., (2019). Defining supply chain management: in the past, present, and future. Journal of Business Logistics, 40(1), pp.44-55.

Ndubuka, N.N. and Rey-Marmonier, E., (2019). Capability approach for realising the Sustainable Development Goals through Responsible Management Education: The case of UK business school academics. The International Journal of Management Education, 17(3), p.100319.

Ye, J. and Kulathunga, K.M.M.C.B., (2019). How does financial literacy promote sustainability in SMEs? A developing country perspective. Sustainability, 11(10), p.2990.

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