Summary of the Groups Business Idea - Report Example

Summary of the Group’s Business Idea Chinese in foreign countries spends most of their leisure time playing their native online games. Most of this Chinese cannot access cards to top up for their online games. This group business plan came up with a business idea after seeing the challenges they are facing. The group realized that these games are extremely addictive yet Chinese players cannot get these top up cards locally. This group decided to come up with a business plan for their business idea. Due to strict government policies, the group decided to come up with a business idea on how to manufacture these top up cards locally. They came to this conclusion after one of the group members stated how the government imposes heavy excise duty on imported products. Members discussed conclusively and found out that the cost manufacturing these top cards is low due to availability of raw materials. Some of the members had the idea that, it was cheaper to import the top up cards but majority of the members rejected this idea arguing that it was time consuming. Recent statistics shows that the number of Chinese playing these online games has increased drastically. Chinese online games have improved the economy due to taxes imposed on such games. This company decided to sell these cards at a reasonable price to the Chinese players simply because internet-banking services in china are expensive (Jensen, 2012 p.12-37). The group also drafted the strategies on how to raise capital in order to venture in this business. Some argued that the business plan would help in getting loans either from the government or from non-governmental organizations. Although many ideas came up, no body discussed the negative impacts of this company to the society. This company will influence the local residents to play this games. This might bring negative impact to the local residents who do not have an idea on how to play these games. Process of Idea Initiation The teamwork in the business plan researched on several mechanisms that need review and thorough understanding of their behaviors. A group of the members took the responsibility of attending various seminars in the corporate world. Others decided to start reading journals and other relevant materials on how to make this company market its cards without problems. After thorough market research, the team realized that some of the ideas gathered are invalid and have no place in the corporate world of business. A section of the group lead by a renowned researcher deduced that internet and personal interviews gave immediate and timely response. Another collection of experts gave their recommendations that customers should get informed information so that they can make informed choices. Generally, the whole idea rose at large and further steps taken to ensure that the best ideas take the day. Chinese internet games are becoming part of lifestyle in many parts of the country. This group business plan came up with financial estimates on how to make this happen. It is important to note that the team saw it important to present this in terms of a business plan so that sense in the whole idea can reveal itself. This balance sheet gives the real estimates on the utilization of resources. . All this ideas appears in a well compiled in book, which has a table of contents giving direction on how to go about it. This book has references, which are up to date depending on the research (Green, 2010, p.110-126). It has also given guidelines on how several ideas will come into effect with time and the impact it will have in the entire market. A business plan that has some references act as a tool to monitor the activities and progress of the business. In my own understanding, a business plan can help this company to raise funds for its expansion hence serving many customers. This business plan will also help the company make future decisions comparing what is happening at the present. The business plan can act as a future reference to review the positive results, which will lead to the success of the business. Team Work There is an assumption that business plan is an essential tool which leads to companies success. It is of great importance also to note that this business plan needs experienced teamwork, which is dedicated. This teamwork must work with the same goal. Specialization and division of labor among the members is a key element to success. This means that those members who are good or are willing to execute certain duties excellently should have such duties. Experts in certain areas or fields must remain in such fields so that they can exhaust their knowledge in such fields. Business plan should have well drafted ideas with illustrations and graphs were necessary. Financial statements in the business plan should have well balanced equations, which are practical. The group business plan must include the efforts of every member and the role, which he or she plays. The best ideas must appear in the business plan with a quote of the member name. This will act as a future evidence of who came up with the best, which stands test of time Presentation Experience These ideas in the business plan appear on well-drawn graphs and pie charts showing different market trends at different times of the year. The financial estimates also appear on a well-designed balanced sheet. This balance sheet gives the real estimates on the utilization of resources. The presentation of this plan gave the panel a clear picture of how ideas and suggestions will bring positive results to the company and its customers. All this ideas appears in a well compiled in book, which has a table of contents giving direction on how proceed. The cover page appears well decorated giving the panel a clear picture of how ideas are worthwhile. This company should take a step and start creating websites, which will give customers different options on how to access these cards. It is through websites customers will learn terms and conditions of sale. Customers will air their views and grievances online and the company will respond without necessary going on the ground. Thorough market research is also important because customers buying these top up cards will come meet the manufacturers. Demand and supply curves in marketing dictate that product pricing is the key factor for its success. This company should ensure that their prices in foreign are affordable. This business plan depicts also, on how the team came up with business idea of selling these cards with instructions attached to these cards on how to use them. The business plan also presented the idea of developing unique codes, which customers should use to avoid counterfeit cards in the market. This business plan gives clear directives that there should be tutorials for these games giving clear instructions on how to play these games when changes occur. The teamwork, which came up with this report, indicates that they should get immediate feedback from those customers playing these games. This will help the company determine its performance locally. Alternative Scenario All the ideas in the business plan will see the light of the day. The reason is that, these ideas have undergone thorough research by a team with the same goal. The teamwork that came up with this business plan incorporated several ideas and topics. It is therefore important to note that, this business plan represents the current situation in the current world of business. The prediction in the business plan will help the business run at minimum costs since financial estimates already appears in the business plan. Although government policies may hinder the business operations, some room must exist to absorb these changes. This business plan has shown different trends in the market, which will make this company stand better chances of surviving in the country (Rolandsen and Malfrid, 2011, p. 157-180). This business plan has given guidelines on how maximization of profits will come into effect. Depending on the future changes in the market, the business plan has given measures on how to overcome this problem. Due to competition in the world of business, this might affect the company. Other companies might decide to invest in the same business and this will bring stiff competition. The company that offers the best will take the largest share hence affecting the other company. The government on the hand might decide to repatriate all the foreigners and this will bring a big loss simply this business is only foreigners. Notably, this company should educate the local residents on how to play this game of Chinese. This will widen the market for the cards since the targeted market is big. They should also boost this by advertising this top up cards through the press. This will create awareness to those with least information on the way forward. For this business to prosper the country should motivate foreigners by not restricting them to certain. This will make foreigners interact with the locals hence other platforms for business. Finally, note that all the predictions projected in the business plan may or may not bring positive results. It is a matter of probability, which is hard to predict the outcome. It requires personal effort and dedication to realize the best results. Business plan is just a written document, which should require human beings to implement its contents. The contents can get tampered with hence bringing negative results. Bibliography Jensen, L, 2012. China in and Beyond the Headlines. Lanham, Md: Rowman & Littlefield. Gainsbury, S, 2012. Internet Gambling: Current Research Findings and Implications. New York, N.Y: Springer Green, L, 2010. The Internet: An Introduction to New Media. Oxford: Berg. LI, X, 2010. Civil Liberties in China. Calif: ABC-CLIO. Rolandsen, H, and Malfrid, U, 2011. Leisure and Power in Urban China. New York: Taylor & Francis. Read More