The Creation of the Business - Essay Example

The paper "The Creation of the Business" is an outstanding example of a case study on business. The creation of the business, which is an EcoFriendly/Green Consulting firm, will be taken through very systematic steps, each of which will have specific objectives, allocation of time and money, required total time and money, and sources of money to implement. Below is a brief explanation of what each step of the business creation will entail.

Undertaking feasibility study: This step is necessary to guide the company to know how realistic its existing plan is from technical, economic, legal, operational, and scheduling perspectives. The feasibility study is expected to be carried out in a minimum of 3 months so that it can be as intensive and practical as possible. The feasibility will cost an average of $7,000, most of which will go into transportation within the 3 months period. Funds for this step is expected to be raised internally.

 Seeking legal permission and clearance: All forms of legal registration must be done to ensure that the creation of the business is recognized as legitimate. This step will also help in protecting the tangible and intangible. The legal processes are expected to be completed in a month. It is expected to cost $2,800 to get all the property of the proposed company registered. Funds for this purpose are expected to be raised internally.

Determination of market demand: This step is needed so as to know the right side of the market, for which appropriate service quantity will be supplied. This step will help to avoid under production or overproduction of service. The step is expected to be finished in 3 months and cost up to $20,000. The source of funding market research is supposed to be through the internal generation of funds.

Setting up of office: the Greater part of the creation of the business is expected to happen here. It will involve acquiring and office space and furnishing it. The reason for this step is to ensure that the company will have an identifiable location where its clients can come to when there is the need to perform any business transactions. The office set up is expected to be completed in 5 months. The office set up is expected to cost up to $70,000. The main source of this fund is to be through a bank loan.

Recruiting of staff: This is expected to follow right after the company has had an office it can identify itself with. The recruitment is important to raise a human resource base with which the functions within the company will be executed. Recruitment and placement are expected to be completed in a month after applications are accepted from candidates. This will cost an average of $900. This money will be raised internally.

Launching and publicity: Once the staff has been set up, there will be an official launch, which will take the form of floats, media publicity, public branding, and office-to-office campaign. This will last for a week and will require an average of $15,000. This source is fund is expected to be raised through a bank loan.

From the above, it will be seen that a total of $115,700 will be needed to get the company in place.

Conclusion

From section 1 to 3, it can be seen that the intended plan of the company is one that rightly matches present market needs. This guarantees market availability for the company but it is still important that a lot of work will be put into the process to ensuring that we know our competitors well so as to develop the right strategic option that meets the existing strategies of the competitors. We also ought to know the market size and trends so that the right marketing plan can be developed to embrace customer needs. What is more, developing the right entrepreneurial and management team will ensure that there is a firm human resource capital that fuels the labor aspects of the company. Finally, it is important for us to know the steps we shall take to get everything implemented and how much each step will cost us in terms of time and money.