Business Description
The business will involve the delivery of IT-based products and services. The business’s head office will be based in Arizona. Based on market research, this would be more effective, as far as the operating costs are concerned. The business will serve clients from different parts of the country. It will also extend its services globally through its e-commerce platforms. This will play a huge role in meeting the business goals. Some of the services the company will provide include cloud computing services, backup, remote services, network security enhancement, operating systems updates, and others. The company will also deliver several hardware components such as flash disks, keyboards, and other devices. This will also call for collaboration between the company and other parties. This collaboration will enable the business to reach most of its goals.
Vision Statement
The company’s vision is “To be your trusted IT products and service delivery company”. This means the company strives to become the most trusted in the industry. This might be a challenging vision for the business to meet, but it will incorporate different strategies to meet it. For instance, as stated, the business will collaborate with others to meet this vision. Already, the business faces stiff competition from major companies globally. Some of the companies already have a significant market share. This might be a difficult task, but the level of confidence in the owners will pay them off.
Mission Statement
The company works towards improving access to information technology by delivering IT-related products and services. This mission statement means a lot as far as the company’s activities are concerned. For instance, by delivering It products and services, the company will have enabled people to access information technology. Modern society relies a lot on information technology. Schools use information technology to extend their teaching services. Businesses use information technology for purposes such as the automation of orders, records, and others (Namugenyi et al., 2019). People use information technology for purposes such as communication and entertainment. It is essential that the company looks forward to enabling everyone to access information technology components. This is a good way to ensure everyone is informed. Each specific product and service has its benefits for the clients. For instance, by providing cloud computing services to businesses, the company ensures that they (the businesses) can back up their information and data. This also helps in decentralizing their information systems, thereby making it easy for them to continue with their operations in case of a vulnerability.
Core Values
The company will incorporate several core values, which will help it meet its goals.
Integrity
This value will allow the company and its members to uphold what is right for the clients. It will also help showcase the company’s culture and behavior. The company will require every member to uphold what is right and ethical. This is because everyone will know their roles in representing the company.
Honesty
This value entails telling the truth and being upright as far as characters are concerned. The company will ensure that everyone informs clients and any other stakeholders of the truth. Also, the ability to showcase other values, such as integrity, can be considered honesty.
Fairness
This entails treating everyone equally regardless of any affiliations. The company will treat every client equally regardless of their culture, race, or affiliation. Similarly, it will treat each employee equally. For this reason, HR will incorporate cultural inclusion and diversity in its management plans.
Accountability
The company requires that everyone be responsible for their actions. Everyone should understand what they should do. Thus, they should use their best practices to do what is right and to satisfy clients. The company will also uphold this value towards clients as an entity.
Customer Promise
The company also looks to deliver what clients expect. It also seeks to promise clients the best quality products and services. Thus, it will work on its quality improvement mechanisms to ensure clients get what they deserve.
Diversity
The company also seeks to uphold diversity and inclusion. This value will work within the employees, management, and clients’ spheres. In HR management practices, for instance, the company will hire people from different cultures. This will create a good blend of cultures within the workplace.
Learning and Development
The company also seeks to improve knowledge and skills among its members. For this reason, it will have several learning and development programs. These will seek to help its members gain more knowledge, which they can use to solve any problems they encounter at their workplace.
Teamwork
The last value is teamwork, which entails working in groups instead of as individuals. Studies show that this value plays a huge role in meeting an organization’s goals. For instance, teamwork can lead to better problem-solving, as members can share their ideas regarding what they can do. Similarly, teamwork helps reduce burnout. Team leaders can allocate tasks to members, which they can handle at their convenience and within their schedules.
Value proposition
XYZ delivers the best and most affordable IT products and services at your convenience. This value proposition relates to the vision and mission statements. The value proposition informs the company’s clients that it is ready to deliver the best quality services and products. Moreover, the proposition outlines affordability as its selling aspect. Every client wishes to have quality products and services at affordable prices. s
Preliminary goals
The company has several primary goals.
Client satisfaction
The first goal is client satisfaction, which entails meeting clients’ needs. The company will incorporate different strategies to determine what clients want. It will also incorporate feedback from previous deals to identify suggestions for improvement (Caliskan et al., 2021). The most appropriate way to meet client needs is by providing quality products and services.
Financial growth
The company also wishes to grow financially. Every business wants to have financial sustainability. This is because financial resources help businesses engage in different operations (Berglund & Glaser, 2022). The company can handle most of its activities by having a sustainable flow of revenue. This can also help the company generate more revenue, as it will not rely on external sources of finances.
Employee development
The company also seeks to help its employees learn and develop. It will incorporate different programs to ensure employees develop knowledge and skills. Thus, employees will benefit not only from salaries but also from development.
Marketing Plans
The business will incorporate the 5Ps of marketing in its operations
Product
The first aspect will be to develop products and services that meet the IT needs of the clients. This will rely on the company’s ability to recruit the best employees who can deliver the best services.
Place
The company will target several areas which have the capacity to support IT. In this case, it will mostly target urban and semi-urban areas.
Price
The company will develop a price strategy that allows it to break even but also attract more clients. This way, it will attract more clients.
Promotion
The company will rely on several promotional approaches, such as using social media, pamphlets, and electronic media, among others.
People
The company will also work to ensure it meets its clients’ needs. Thus, it will rely on feedback from clients to know any areas that need improvement.
Human Resource Plans
The company will also develop several HR strategies, which will help in managing its HR. for instance, it will recruit the best employees who can deliver quality services. It will also dwell on on-the-job training to ensure the employees gain the required knowledge and skills. The company will also rely on experience as a major element during the recruitment process.
Financial plans
The company aims at several financial goals. For example, it wishes to raise its revenue by 50% within the first year. This will, however, require several strategies and sacrifices. The company wishes to reduce unnecessary costs. By cutting down unnecessary costs, it will be easier to meet other goals. Finally, the business aims to be financially sustainable, whereby it does not rely on external sources of funds in case of an emergency.
Conclusion
This business plan outlines several elements that the business will incorporate. The plan will work as a guide for the business to know the right direction. The business leaders and employees should collaborate to ensure they drive it in the intended direction. The ability to meet its set goals implies success.
References
Caliskan, A., Özkan Özen, Y. D., & Ozturkoglu, Y. (2021). Digital transformation of traditional marketing business model in new industry era. Journal of Enterprise Information Management, 34(4), 1252-1273. https://doi.org/10.1108/JEIM-02-2020-0084
Namugenyi, C., Nimmagadda, S. L., & Reiners, T. (2019). Design of a SWOT analysis model and its evaluation in diverse digital business ecosystem contexts. Procedia Computer Science, 159, 1145-1154. https://doi.org/10.1016/j.procs.2019.09.283
Berglund, H., & Glaser, V. L. (2022). The artifacts of entrepreneurial practice. In Research handbook on entrepreneurship as practice (pp. 168-186). Edward Elgar Publishing.
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