Technology and Organizational Requirements - Lima Fashions Ltd - Example

The paper 'Technology and Organizational Requirements - Lima Fashions Ltd " is a great example of a business plan. Lima fashions Ltd is a company that was established in 2007 in New York, to supply unique fashion and cosmetic brands in the luxury market. The fashion industry has experienced lucrative growth over the past five years following the authenticity, high quality, and originality of Lima products. As a result families especially the high class, are willing to spend fortunes to acquire the luxurious range of products the company offers. Lima Company has experienced an annual growth rate of averagely 28% in the past five years and has maintained its competitive edge over great world fashion brands through its well-tailored supply chains and classic customer services. Currently, the company is located on a five-story building that serves as the headquarters but also has about 30 sub-companies with over 30,000 employees, dealing with various brands of clothing and cosmetics.

The Company aims to be a premium fashion provider in the next two years and also to increase its market shares to a double value. Lima Company also plans to broaden its product ranges for the premium status; it plans to introduce three new products that are specialties of the current products by the end of the next five years. For a company like Lima to understand the main challenges to achieving the best business results presently and in the future as well as opportunities that exist for its products, various aspects of its business project environment need to be understood well so as to inform the consumers, managers and funding institutions appropriately. According to Thompson (2005), the aspects that need to be understood are many but can be summarized into the market environment, technology and organizational issues, and financial matters.

The Market Environment

The market environment is an important part to study because it makes the company understand the opportunities that exist for exploration, whether or not demand exists for its product and how best the company can ensure its products sell prominently above those of other competitors. To understand the target market, a company has to be well versed with the industry it’s getting involved in, the size and characteristics of the target market, whether the industry is a growth or mature industry, the competitors in the target markets, the company’s strategies to overdo the competitors and the company’s projected market share.