QAHE 2022 / 2023 Applied Consulting Project Assignment Sample
Module code and Title: QAHE 2022 / 2023 Applied Consulting Project Assignment Sample
Title of the project:
“This is the project consultancy proposal based on the business expansion of the Truss Professional in the international market: Asia or Africa.”
Introduction: Client’s requirements
Truss Professional UK is a hair care company that retails home and salon care ranges and is based in the UK, US, South Korea, Portugal, Spain, Ireland, Ukraine, and Italy (Truss professional, 2022). The company started its operations in Brazil in 2003, and it soon became the number-one brand in 2010. Further, the company expanded in North America and Latin America. In the year 2017, a Brazilian entrepreneur and national resident in the UK approached the company in the United States and asked to launch the hair care range in the UK market.
Although the year 2018 has proved difficult for this company because of the lack of investment and the low brand visibility. But, by the year 2019, the condition has improved a lot. Truss professional offers a home and salon range of hair care products; both are tested and registered for sale in the United Kingdom. Currently, this consultancy project aims to review, research, analyze and offer recommendations to start a business in a different nation, whether it be any African country or an Asian country.
The task assigned is to evaluate the best suitable country for this expansion for Truss professionals. in addition, it can be stated that this task would help the organization make reliable and accurate decisions. This is because it involves the formulation of smart objectives. The issue the company is facing is of making the expansion decision and enhancing the effectiveness of the organization as well as enlarging the market share.
Aims and Objectives/deliverables
| SMART | Objective 1 | Objective 2 | Objective 3 | Objective 4 |
| Specific | To conduct the detailed environmental analysis | To evaluate the nation that is best suitable for the company and its offerings. | To implement the strategy and gain a full data-rich analysis of the selected nation. | To develop a suitable implementation plan and continue the strategic development. |
| Measurable | The environment can be analyzed using pestle and Porte’s five forces model | The qualitative and quantitative data can be taken into account. | To identify market entry methods: licensing, franchising, mergers, acquisition, or greenfield venture. | To assess the success factors and identify the best methods and tools |
| Attainable | The factors can be assessed, including political, environmental, social, technological, and competitors. | This comparison between Asian and African countries can be made to analyze the market attractiveness. | This is important to assess the advantages and disadvantages of the market entry modes. | Usage of data analysis to develop the strategy. |
| Realistic | This will benefit the cited company as it reveals the attractions and opportunities in the nations. | This will support the company in gaining insights and understanding about the prospective client demands, competition, and resource needs. | Choosing the right market entry mode supports the company’s efficient survival. | This involves offering recommendations for fulfilling the company objectives. |
| Timebound | The timeframe can be one month for this task. | The time frame for this objective is two months specifically. | Two months is the timeline for this objective. | The timeline for this is one month. |
Parameters
This section of the report outlines the project scope and elaborates on how to establish boundaries on the project and identify the goals, project deliverables, and deadline. Considering the present project plan focuses on formulating insights considering the company to expansion into the new nation, whether it be Asian or African.
The expansion decision will be taken based on the smart objectives and the marketplace where it can serve better. the project will display the image of Truss professional and its capability to attract and retain many consumers. Hence it can be stated that this consultancy project will help the top management of Truss professionals decide on expansion Under the desired cost and the expected timeline.
Outcomes
As per the accomplishment of the project plan, the cited case company will be able to expand successfully into the selected country. The reason behind this is that the company will attain a deep insight and understanding regarding the cultural, political, and environmental factors and many more. This consultancy project will also offer a detailed understanding of the company’s attractive or international market.
With the use of pastel analysis, the company will be able to develop a detailed knowledge of the opportunities and threats that are prevailing in the two international markets. Apart from this, the company will also be able to make specific decisions about the expected sales volume, potential revenue, profitability, and many more.
Approach
The business consultant plays a crucial role in organizing the problem and offering potential solutions to the company in order to help them make informed decisions. Considering the present issue of expansion that Truss professional is experiencing, the business consultant can offer them numerous approaches. The first approach is to analyze the two markets chosen for the expansion, that is, African and Asia.
A detailed analysis can be conducted by the consultant about the operating and business environment of these two nations (McKinsey & Company, 2022). This is because, as the company is going to work in these two countries, it is important to understand the local culture, the needs of the target market, competitors, and other factors that may impact the business operations and sales. Therefore, the consultant will review the demographic market, their requirements, the company’s location, and other factors that may interest the company.
The models mentioned in the smart objectives are pestle and porter’s five forces models, which are the well-known strategic theories to evaluate the macro-aspects. Another important approach to be taken into consideration is to evaluate the most suitable and reliable market mode of entry method (Deloitte, 2022). Again, this is the part of the smart objective that reveals the mode of entry that needs to be chosen per the business model of Truss professional.
Time plan
A project timeline comprises the task, subtask, and milestones, connecting them with the dependencies, and tracking the progress. It is important to organize the overall structure and plan the project timeline by priorities, duration, and deadlines. as this project is a business expansion plan, continuously tracking the growth and progress is important.
Hence, this develops the need to create a project timeline. When the timeline can be created, the company can effectively measure the progress and monitor the workings of everyone in accordance with the task given. The milestone in this context can be the approval of the person responsible for the particular task.
Gantt chart
| Tasks | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 |
| · Overview of the project company
· Assessing its expansion requirements · conducting business environment analysis using models |
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| · Comparison of Asian and African nations and examining the business environment of that nations | ||||||
| · Recognizing the suitable market mode of entry for expansion | ||||||
| · Implementation plan development and monitoring the progress |
Resources/key personnel
Expanding the business into the international market requires various resources and key personnel. for instance, the major resources needed for Truss professionals involve financial and physical, and human resources. Finance is one of the most important things to expand the business because it needs money to establish operations in another country. Apart from this, human resource is another important needed resource for the company that will manage The tasks in the foreign market.
Further, another important person that contributes majorly to the business expansion is the business consultant, who will act as the specialist in the expansion project as per the Belbin team role. The specialist is an individual who brings in-depth knowledge of a particular topic to the team (Belbin limited, 2022).
Thus, the business consultant will share this knowledge and expertise with the top management of the board to make the expansion decision. Another important personnel is the investors of the company because they are the individuals who will approve the finances for the expansion. They will act as the monitor evaluator who offers a logical eye and make impartial decisions. They are strategic and consider all options to make the finances Management effective.
Costing of the project
Cost estimation in the project is important to do, and it is the forecasting of the financial and other resources required to complete a project within a defined scope. Considering the present project, the major cost is associated with the charges of a consultant, hiring the skilled workforce to manage the operations, business-related costs, and the cost concerned with physical locations.
Truss professional is required to pay the fees to the consultant as they are giving their services. Moreover, to manage and operate the services and operations in the international market, a talented and skilled workforce is required, which also needs proper costing.
Breakdown of the costing for the project:
Below mentioned are the expenses that will be incurred during the expansion project:
| Description | Expense in pound sterling |
| Business consultant fees | 10,717.08 £ |
| The hiring of the team members for the expansion project | 21,434.16£ |
| Expenses for setting up a business. | 1,07,170£ |
| Facility expense | 65000£ |
References
Belbin limited, (2022). The nine Belbin team roles. [Online]. Accessed through: < https://www.belbin.com/about/belbin-team-roles>> Accessed on: 22nd October, 2022.
Deloitte, (2022). International expansion strategy. [Online]. Accessed through: < https://www2.deloitte.com/tr/en/pages/strategy/solutions/customer-and-market-strategy-services/international-expansion-strategy-services.html>. Accessed on: 22nd October, 2022.
McKinsey & Company, (2022). Mindset to action: Imperatives for growth. [Online]. Accessed through: < https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/mckinsey-on-growth> Accessed on: 22nd October, 2022.
Truss professional, (2022). About us. [Online]. Accessed through: https://truss-uk.com/. Accessed on: 22nd October, 2022.
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