Westfield Shopping Center in Parramatta - Example

Executive Summary Man’s club is located in Westfield shopping center in Parramatta, Sydney Australia. The business which is called Man’s club deals with all types’ jeans and T-shirts for men. The business acquired its first start up amount from the local bank. The bank in turn paid requested the business to pay the money back with interest at the rate of 12% per annum. The total amount requested was $200000 of which was estimated to be able to pay the entire initial rent and other utilities (Alphonce, 2010, P. 34). The paper looks at the business plan that Man’s club has come up with in order to attain a large market share and at the same time attain profitability. The competition in the industry is quite high but the company aims to use innovation in order to attain the positive results. Operations: Administration Business Location: Westfield shopping centre in Parramatta. The shopping center is located in the city of Sydney in New South Wales Australia, which is well known for its suburban nature. The Westfield Group own and manage the place. The center has a reputation of being the fourth largest retail space in Australia and this has created a lot of positive attention for the center. Considering the aspect of transportation, the consumers can be able to get to the shopping center quite easily and the market is likely to be large. Vision and Mission The vision of the business is to provide first class services to all its customers. The mission of the business is to provide quality clothing wear to all men who visit the business premises. Lastly the business has objectives that revolve around the providence of quality services to all its customers. It also pursues to give all it customers knowledge on different fabrics and which clothing wear is appropriate at different times. The business is geared to providing women clothes by the start of next year (Kirby, 2006, P. 47). Corporate Structure The corporate structure of the business is partnership, this changed from sole proprietorship. The other members brought new energy into the business which has seen the business move to high levels than before. The partners are able to assist easily whenever there is a difficult decision to be taken care of. The partners have a high level of education and are able to tackle any issues that arise in the business setting. At the moment there are three partners who decided to join their funds together for a common course. The majority investors remain to be the first owner and the bank that have major shares in the business (Gay, 2010, P. 732). Rental agreement Capital: $ 200000 Rate: 2150 per metre Space: 70m Rate by year: $1806000 Rate by month: $ 150500 Total space for the business is 50meters, where by $2150 is paid per meter. At the end of the year the business spends $107500 for space. This is changing to higher as there is speculation of improvements and high business this year. The parties involved in the rental agreement are; The Man’s Club and the owners of the property, Westfield Group. The property: Space of 70m at the Westfield Parramatta Shopping Center. Term: The agreement runs on annual basis Rent: $1806000 The amount deposited is refundable at the end of thirty days after the termination of the tenancy. However, some of the costs may be deducted for the clearance of any damage done, cleaning process or to cater for the pending bills based on the property. Additional agreements The tenants should not lease or sublease the property to other individuals without the consent of the owners. The landlord should be allowed the inspection of the premises at reasonable times do as to ensure everything is in order The tenant will agree to maintain the premises in good condition while occupying the area During the vacation process the tenant should try and leave the premises in good condition to make it possible to lease to other tenant Local council zonings and regulations The main regulations that that the company is supposed to follow is to maintain an environment that is in good state and make sure they do not disturb the peace and existence of the rest of the community. The other regulation is that the tenants should make sure they are conducting legal business. There will be an inventory of all intellectual investments that have been done from past years. This intellectuals are always called back for duty when need arises since their input in the business was worthwhile. There will be also an introduction of a portfolio organization of all the plans and deductions. This will assist the business to work knowing what they have done and what they anticipate to do in the near future (Bruk, 2003). Utilities Apart from rent the company purchased two new computers and a printer that cost $10000. These were connected by an IT specialist who was paid $300. The business purchased fitting equipments to place the computers and clothes, this cost the business $1000. Products available All the products currently available include not only jeans and T-shirts but have grown to suits and shoes. Most of its products are imported from Italy and the United Kingdom. This inception of new products has enabled the business have more customers than before. All the facilities are placed in well arranged shelves where they are viewed with ease. Intellectual property plan There will be an inventory of all intellectual investments that have been done from past years. This intellectuals are always called back for duty when need arises since their input in the business was worthwhile. There will be also an introduction of a portfolio organization of all the plans and deductions. This will assist the business to work knowing what they have done and what they anticipate to do in the near future (Bruk, 2003). Staff: Type, Number, roles. Duties and the special skills Ibarra and Herminia (2010, P. 74) confirm that the current number of employees employed is four, headed by the manager who reports to the owner and two sales people who report to the manager. All the employees are required by the business to have some formal education. The manager is to have a master’s degree and the sales people are required to have a degree from a recognized university or college. All the employees are required to have a deeper knowledge of sales and marketing to be able to sell competitively. The employees are given incentives depending on amount of money they make per month. This has led to stiff competition among the workers hence high profits realized. Management team The board members include all the partners and the district attorney. They are given the major task of making decisions that affect the business. They are given powers to hire and fire at any time of working period. The boards of directors are also given the responsibility of deciding which new ventures should be entered into at the annual meetings. They also assess the previous conditions of the business and give recommendations for improvements where there were defects. The business owners remain to be the partners that contributed initially to the business finances. The owners receive advice from their lawyers who inform them of the law implication of all the decisions they make. On separation of the partnership the business is deemed void until new decisions are reached again. The partners are always aware of this fact hence avoid any issues that could lead to dissolution. The senior managers assist the partners in decision making (Butt, 2003). HR Policies All the employees are also given training services while on the job. This allows those that dint get the opportunity in their institutions to have it in the work place. The management structure is in such a way that the board of managers make decisions and report them to other staff members who work on them and the chain goes down as shown below. Managers do supervisory roles while sales people perform implementation activities. Only one member is allowed to perform one task at a time since there is always very little to be performed by the employees themselves. All the training is done at the beginning of every financial year when new members are allowed to join the business. Compensation is always given to all injured employees at a minimum of $50000 (Bruk, 2003). Training Requirements All the training that is performed is done to allow all the employees to get motivation as they work on a daily basis. They also are able to tackle hard tasks that they encounter in they encounter while on duty. This will lead to high productivity and high profits for the business organization. In so doing all the business objectives will have been met hence the development of new other objectives will be required (Zay, 2010, p.35). After the training the business should be in a position of delivering first class results to all it customers. Most learning is often done outside formal training; this is because while the training is on all the students or workers are able to perform the functions they are supposed to while on hands on process. Since all the regulations of the business will be dealt with during training no worker will give excuses that they did not know what the organization rules displayed (McNamara, 2005). On this part all the business’ objectives will have been met since all the regulations will be displayed. The trainers will have a chance to interact with their own future workers and in so doing the business management will know who to employ and who to chase away (Christy, 20006, P. 876). Process and Activity Analysis Acquisition plan The business desires to acquire more properties by merging with other weak businesses dealing with the same products. This will enable a big market being created since more branches will be opened at the same time. The acquisition will take place after the business has saved enough money for the project in the near future. The targets for the projects are businesses from other countries providing the same products. Since the other merged companies will be from other countries business will move from Australia to those countries. These countries include those in the United States and United Kingdom. After the acquisition the business name will have moved from Australia to those countries (Zurn, 2004). Risk Management Plan There are methods that are placed in advance to control all the liabilities that may occur. One of those method is by employing qualified people in the field of risk management to combat any liabilities that may occur the way. The second way is by making sure all the payments are made only when there is receipt of goods and correspondence of the same is done. There ought to be reserve funds in case of any liabilities that occur on the way of the business operations. Lastly the continuity of operations will have to be number one above all others (Sarantakos, 1998, P. 34). Decision Making Criteria The chart below shows the flow of making decisions (Ibarra, 2003, P. 876). Source (Author) Marketing Plan Since the selling of jeans and T-shirts was not making good money. The management decided to include other things like shoes and ladies wear to supplement the men’s wear. The reason for substitute was because other people wanted to make their full shopping in one place to avoid walking from store to store. This proposal from the management was better because the level of sales were increase considerably. Through the introduction of the new products, other new costs were introduced. This included the amount of purchasing new items and money to make advertisements for the same (Gay, 2010, P. 80). The new products introduced justified switching as they enabled shopping of all items at one designated place. This saved on time and money on the part of the customers. Although all this were done smoothly their existed new dynamics as another employee had to be included to cater for the greater size of customers (Babbie, 2001). The new products played a very important role as they enabled more of previous commodities to be sold. Pricing There were price changes since the customers were given major discounts as they made more purchases. Through strategies of pricing most of the commodities were attached together to allow for slow moving goods to move. This enabled the business make enormous sales on the first batch of sales that it made. The business also had to reduce prices of some goods so that that they were able to be sold. These commodities include those that had stayed in the shelves for a long period of time (Butt, 2003). Distribution/Positioning There exist strategies of distribution of available commodities. This allows the products to be positioned in places that are strategic so that they can be viewed with ease. The major distributors of the business are Adidas, Reebok, Gucci and Marks Spencer to name but a few. All these distributors are given orders and they in turn send invoices for all their supplies. Distributors are paid at the end of every month to avoid congestion. The current view is that all the existing distributors be vetted by the board of managers (Christy, 2006, P. 39). Promotion and Brand Development Promotion of all the products is always made at varying intervals. All promotions are decided by the board of managers and the decisions reached sent to sales people who make the promotions. All the business promotions are done after a fee is paid to the particular organ that is making the promotions. By use of the media a wide range of individuals are always reached at hence the amount of money to perform them is always higher. Many times the business has made use of newspapers and ads. All this have enabled the business make considerable amounts of money on its profits. New brands are expected to be released as soon as the board comes on a consensus on which brands to introduce (Butt, 2003). Operational Plan All the customers are to be serviced effectively; this pertains to the system of cost on the part of the business and the customers. All the customer queries are listened to and forwarded to the board for clear cut decisions to be reached. All the decisions reached in the board are then forwarded to various departments for implementation. A feedback is often given back on the operation of the decision and its effect on the business and the customers. At all entrances mail boxes are placed to enabled other busy customer’s just drop their queries without talking. Pricing has been raised as the biggest problem many times (Bruk, 2008, P.76). Manufacturing/Deployment Plan Bruk and Warren (2008, P.234) inform us that all the materials are always distributed by others; hence there is usually no need for inputs for production. The only necessary equipments that are always needed are warehouses. These are used for storage purposes while awaiting collection for selling. Total space for the business is 70meters, where by $2150 is paid per meter. At the end of the year the business spends $1806000 for space. This is changing to higher as there is speculation of improvements and high business this year. The business is situated at Westfield shopping center in Parramatta. Information and Communications Technology Plan For the business to operate effectively, their needs to be more computers and cash register. This is due to the fact that more customers are patronizing the premises. Alarm system is required to be placed in all sections of the business to allow detect any breakages that may occur. The light system should be increased to allow clarity while customers are doing their shopping. All these will enable the business to run smoothly and without any problems. Other systems that should be included include websites for the business. This should be for the purpose of internal and public use. The websites will enable all the business products displayed without any problems. Under operations there need to be a billing system that will ensure the Human Resource work without problems. The systems should show all the employees available at a particular station and their salaries. For example the salaries of current employees like the manager is $30000, this should be stipulated in the billing system (Brandan 2006, 25). Other systems like SCM and CRM are also included. The HR duties are to check on the overall needs of all the employees. Presentation The business is also been given the right to use its name and not share it with any other business. The logo of the business is a flying eagle which represents the strength of its vision and mission. Accounting System The business started with an amount borrowed from the bank. The money was to be paid back with interest at the rate of 12% per annum. Since the business is situated in a strategic place the money borrowed was deemed payable after a short period of time. The business has a certificate to operate for a period of one year after wards they are required to renew their contract again (Sarantakos, 2001, P. 765). The business paid $6000 for the first year of operation. The expected terminal value was valued to be $300000. This amount was reached at after realizing that more people were already doing their shopping in the shop. Since the business is situated in a strategic place, it was concluded that more profits were to be made that month of operation. The target market was definitely going to be exploited by the team of workers. This is because all the workers are people with skills pertaining to sells and marketing. Finally the owner of the business gave incentives to all the workers that had a good selling record. Since the population around was mostly surrounded by youth the business strategies seemed to work (Zurn, 2004). Annual sales figures are very impressive since inception of the business. From the amount borrowed of $200000, the company has been able to get $500000 the first year. The stock has increased considerably from men’s wear to women wear in the past one year (Ibarra, 2003, P. 90). Bibliographies List Alphonce, Kregler 2010, Business today and tomorrow, 4th edn, McGraw Hill Publishing Company Limited, India. Brandan, Toll 2006, internet surfing for young generations, 6thedn, McGraw Hill Publishing Company Limited, Canada. Bruk, Warren 2008,Internet Principles: unconventional strategies for reinventing your career, 5thed, Harvard Business Press, Athens. Butt, P 2003, Business growing plans in the world, Perth researcher finds’, ABC online, viewed 10th April 2004,. Babbie, E 2001,The practice of writing business plans, 9th edn, Wadsworth Thomson Learining, Belmont, California, USA. Christy, Crendon 2006, Basic Guidelines to marketing planning, Philosophical research online, vol. 2, no. 3, viewed 19th April 2006, . Gay, Simnet 2010, “E-marketing Services in the Global world” 4thedn, McGraw Hill Publishing Company Limited, Australia. 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