Business report on Illamasqua - Book Report/Review Example

?Business Report Table of Contents Table of Contents 2 Executive Summary 3 Introduction 4 Business Model 4 Organization Framework 5 International nature of business 7 Mission and Vision of the company 7 Key Stakeholders 8 Financial and economic condition 8 Conclusion 11 References 12 Executive Summary Illamasqua for its intense color and dramatic makeup kits and makeup techniques have a very strong presence in the market just after its inception in the year 2008. The wide variety of products and techniques used by the expert makeup artist from the company is the most strong point of the company to differentiate itself in the cosmetic industry. This report is concerned with the analysis of the company and understands its business model and the organization along with the financial condition of the firm in the business environment. Introduction Illamasqua is the creative vision of Juian Kynaston and Trudi Kynaston who are from brand building background with strong base in the industry. The company has understood the importance of building the brand from the customer experiences and influencing the human issues. The unique program from the company to promote its product is self expression of the human character through its makeup. This unique capability of the products to alter the ego of an individual is the main reason for its success in the business process. This bold and full glamour makeup from the company is always a favorite and powerful tools for the teenager group for expressing their personal style. Illamasqua training program also played a vital role to reach to the customers and build strong relationship with the customers to provide a strong base for the company to shine in the market in such a short period of time. Business Model Illamasqua is into the business process of manufacturing of makeup materials which are used on several occasions like makeup for theatre and films. The unique dramatic makeup from the company for the different purposes has always maintained a culture for expressing different scenes with emotional attachment to makeup (Illamasqua, 2011). Though the company is new to the world but the unique product line with its quality has made strong impact in the market which is impossible to ignore its presence. At present the company has a diversified product line with over 8 varieties of products for the different purposes like Eye shadow, Nail coat and nail vanish, Pencils, Kits and palettes, lip sticks, face powder and many other accessories. Each category has a huge collection of products for the market which facilitated the company to reach to the customers with their quality products and collection for all (Illamasqua-a, 2011). The company completed its first year in the year 2009 November and the company within this short period of time as achieved a lot in the market due to its unique capability of showing the alter ego of the person through its makeup kit provided by the company to the industry. Organization Framework An organizational framework helps to understand the company and its business environment and provide quality and satisfactory services by the company to its customers. This organizational framework helps the company to evaluate each and every aspects of the company and identifies the areas which can be improved by the company for and improved service quality and efficient business model. This organizational framework helps to optimize its present business process and adapt changes in the environment and improve offering for the new products along with the development of the people of the company. Resource development is also very important for the firm to succeed in the market. For the successful implementation process a company should have efficient employees to successfully implement strategies according to the need of the company (Philbin, Mikush, 1999, p. 29). Figure 1: An Organizational Framework (Source: Tarasofsky, n.d.) Illamasqua strong art team with talented individual provides a unique mixture for the company with its resources to result in world class ideas and experiences for the customers. Customer satisfaction is the core of the business provided by the efficient employees and training program for them to bring out the creativity and self-expression for the individual (Illamasqua-b, 2011). The learning and cultural background of the company are constantly cultivated within the company through its make-up school for training the employees and individuals for learning about the make-up skills for the different purposes of an individual (Illamasqua-c, 2011). As an innovation strategy the company is constantly working on its products and introducing new product line in their business. For organizational effectiveness the company maintains its quality as its main weapon to grab the market share. International nature of business Illamasqua have its presence at various parts of the world. The London based brand is located in and around London within just 2 years. The company has several stores and training locations at London, Oxford Street, Manchester, Bullring, Argyle Street, Castle Court, St. Davids Way and Northumberland Street (Illamasqua-d, 2011). The stores offer ranges of products for the market for different kinds of customer needs. London provides a great market for the company to expand its business with a stronger base due to the cultural background of the people of the location and the economical condition of the country. Many stores of the company also provide makeup lessons from the company to the customers for their individual needs and desires (Illamasqua-e, 2011). The company with an expansion plan is also approach other countries like Australia to reach to a larger customer base. Theatre and films are one of the popular attractions at Australia providing a good prospect for the company to expand its business. The company launched six counters at different parts of Australia analyzing a great sales potential in the region. Mission and Vision of the company The company is primarily focused towards producing makeup for building an ‘alter ego’ amongst an individual. This philosophy of the company helped them to be one of the prominent names in the fashion industry and shine within a night-time and is recognized by the people as the self-expression and empowerment. The primary objective of the firm is to offer customers products and make up through which the customers can express their own feelings and bring out the confidence with the individual to express their alter ego through their make-up. The company always tries to offer makeup for the customer with quality services and believes their product and services always above mediocrity for the market. The main mission of the company is to link and tie up with Sophie Lancaster Foundation which will help them to produce a stronger base for the company and support their business process. Key Stakeholders Illamasqua has entered into the market with no previous experiences in the field. The company has implemented strong strategies and also identified the need to provide quality services and products for the market for a sustainable growth in the market. The key stakeholders of the company are its customers and the suppliers and investors in the business process. Customers and individuals who are using and learning makeup from the company provides a strong base for the company to contribute to their business and helped the company to flourish in this short period of 2years span. The major contributor to Illamasqua in its investment is from the Managing Director of the company Joe Corre who was earlier into Agent Provocateur and the creator of the company. Joe Corre was impressed with the unique styling techniques of the Illamasqua for breaking the conventional way of industry for its creativity which resulted to investment for the company for building a strong relationship with the company for a strong brand name in the market (Becoming Beautiful, 2011). Financial and economic condition Illamasqua is a holding company. Illamasqua (Holdings) limited is a company with private limited with share capital. The Net worth of the company is calculated by finding the differences between the Shareholders Funds and the Intangible Assets of the firm. The net worth of the company in the year 2009 was ?1,369,548 which has little increase from the previous year with a value of 2008 ?1,367,684. This value shows a very good position of the company in the market just after its inception in the year 2007. The graph below shows its constant growth in the market after a rapid rise after its establishment. Figure 2: Net Worth of Illamasqua (Source: Company Check, 2011) The total liability and the current liability Illamasqua is a concern for the firm as just after its entry in the market the company has already reached high value for the two which can be very difficult for the firm to cope with if business strategies don’t work well in near future for the firm. Figure 3: Total Liabilities for the firm (Source: Company Check, 2011) Figure 4: Current Liabilities of the firm (Source: Company Check, 2011) Conclusion Illamasqua is a cocktail of culture, heritage, knowledge and creativity of the experts’ who builds the leading makeup team for Illamasqua. The unique makeup techniques and the quality of service from the firm facilitates the business process of the company to aid with the trained employees which resulted in a great position of the company in the market in such a short period of time. The self-expression makeup of the company for the individual need of the customers brings out the alter ego of a person which acts as the main tool for the company to differentiate itself from the other players in the market. In spite of the strong business process and rapid expansion plans with diversified product lines as well as at different places of the world the company have a good earnings from its 2years business but on the other hand due to these plans the company is also suffering from huge total and current liabilities which are needed to be evaluated by the firm to secure its position in the market. References Becoming Beautiful. (2011). what’s in a Brand? – Illamasqua, Makeup for the Alter Ego. [Online]. Available at: http://becoming-beautiful.com/2011/04/whats-in-a-brand-illamasqua-makeup-for-the-alter-ego/. [Accessed on: September 1st 2011]. Company Check. (2011). ILLAMASQUA (HOLDINGS) LIMITED Established 19/02/2007. [Online]. Available at: http://www.companycheck.co.uk/company/06116121. [Accessed on: September 1st 2011]. Illamasqua. (2011). Our Heritage. [Online]. Available at: http://www.illamasqua.com/about/. [Accessed on: September 1st 2011]. Illamasqua-a. (2011). Collections. [Online]. Available at: http://www.illamasqua.com/collections/. [Accessed on: September 1st 2011]. Illamasqua-b. (2011). The Art Team. [Online]. Available at: http://www.illamasqua.com/about/art-team/. [Accessed on: September 1st 2011]. Illamasqua-c. (2011). SCHOOL OF MAKE-UP ART. [Online]. Available at: http://www.illamasqua.com/professionals/somua/. [Accessed on: September 1st 2011]. Illamasqua-d. (2011). STORES. [Online]. Available at: http://www.illamasqua.com/store-locator/. [Accessed on: September 1st 2011]. Illamasqua-e. (2011). In Store Make-Up Lessons. [Online]. Available at: http://www.illamasqua.com/tutorials/in-store-makeup-lessons/. [Accessed on: September 1st 2011]. Philbin, A., Mikush, S. (1999). A Framework for Organizational Development: The Why, What and How of OD Work. [Pdf]. Available at: http://www.ncnonprofits.org/faq/babcock.pdf. [Accessed on: September 1st 2011]. Tarasofsky, J. (No date). Understanding the Organization Framework. [Online]. Available at: http://www.ideasforleaders.org/what-is/understanding-the-organization-framework/. [Accessed on: September 1st 2011]. Read More