Shinny Florist Business Strategy - Case Study Example

Assessment 1 1. Business Name: Shinny Florist 2. Business structure: partnership 3. 5 Parkview Drive, Kent St. 4. Opens on 1st December, 2015. 5. The business owners: 1) carol smith 2) Shae Bilston 3) Tina Andrews 4) Linley Fullwood 5) Alyce Entwistle. 6.Owner experience Senior florist Funky Bunches December 2010-present (4years ten months) leerer vile Communication and planning officer Department of water June 2005-June 2010 (5 years three months) 7.Product and services: The business will be operating on a daily basis, dealing with wide range of flowers and decoration. Synthetic flowers and manufacturing machines for simple designs and modification of the procured products. The supply of flowers will cover the demand for daily consumers who use flowers in their interior decorations. It will also cover for the customers who use flowers to prepare various designs in their houses and various ceremonies they hold at their homesteads. The other customers cover for children who use balloons to play since the shop is located near the park. This a location where children come to play on a daily basis. Balloons are on a high demand when children come to play in the park. Gift cards will also serve to satisfy customers who have their relatives in the nearby school. They will be of great demand on graduations in schools and colleges. 8.Target market The target market will be the nearby schools and homes. Demographic characteristics of the market will consider the ages from 5-50 years of age. This are population which require flowers almost in their daily activities especially children. The sociographic distribution will include mostly the youth who use the flowers for decorations and ceremonies. 9.Marketing strategy The business will implement a rapid strategy to create an advertisement and promote various products and services. The business will use posters and utilize internet marketing. The use of social media to promote the business products and services will facilitate the outreach of various youth groups and adults. This will succeed since most people are using social media platforms. There are also a few shops which are specialized in floral designs. On the opening day the business will offer free fresh flowers to customers who buy in the store. 10.Vision Statement To be a leading florist and designer dealing with fresh flowers and gift cards. 11.Goals and objectives Ensure that customers are given quality fresh flowers and delivered on time. Producing various designs to covers for all the preference and choice of the customers. Ensuring that all demands from customers for various type of flowers are catered for. 12. Finances The business will need $500 000 to start operating one store. The source of capital will be the contribution from the partners. I will be able to raise $250 000 for the business. The business will borrow $50 000 from the local bank. 13.Premise The premise will be bought from an outgoing business. 14.Organization chart 15.Staffing Job title Quantity Years of experience Skills necessary Date required Manager 1 5 Managerial, team work 13/10/2015 Marketing officers 3 3 Marketing, leadership and promotional 13/10/2015 Packaging and branding officers 5 2 Sorting, measurement, and packaging 01/12/2015 Sales officers 3 1 Communication and computation 13/10/2015 16.Recruitment Recruitment will be based on the qualifications and through an interview. 17.Market position Floral products are not much demanding hence they are just competitive compared to other products in the market. There are few competitors in the market since the shop is located 5km away from the next florist shop. 18.Unique selling position The only unique thing that will enable the business to succeed is the fact that the shop will be operated on a 24-hour basis and for the whole week it will be open. The designs of the floral products are unique compared to the nearby florist. 19. Anticipated demand The business project that the income raised over a period of six months will be about $250 000. This means that individual customers are expected to raise about $5 000 in the period of six months. 20. Pricing strategy The pricing of the products and services will vary in the first few opening weeks to attract customers. Market-based pricing will be effective in this case so as to attract more customers. Promotional pricing will also play a major role in the development of the business during early stages. 21. Insurance Workers compensation Public liability Property insurance 22. Risk management Risk Likelihood Impact Strategy Loss of assets High High Insuring all assets Insufficient cash flows low High Reduced savings Damage to property of others Moderate Moderate Insuring property to the nearby premises. Regulatory fines High Low Abiding by rules 23. Legal consideration Contractual requirement Legislations Regulations Code of practice Standards Assessment 4: Organize meeting 1.Difference between general meeting and annual general meeting General meeting is regularly held Annual general meetings are held yearly Formal meeting Very regulated Member of the board can call for the meeting It is fixed to be held after a financial period is over Voting is done on critical issues Election of the Committee is done 2.Meeting requirements for: The proprietary company, a public company, listed company. Purpose of the meeting Meeting structure Voting protocols Needs of participation Specific resources 3. Chairperson This is the person in charge of the meeting or a certain activity and is accountable to oversee such an activity to a success. Secretary This is a person in charge of taking notes and minutes of a meeting and ensuring that the meeting is organized in the required manner. Treasurer This is a person who is in charge of the finances of the business. Abstention This is the number of people who are not present in the meeting. Adjournment This is a stage where the meeting comes to an end and the next date for the meeting is determined. Agenda This is the main aims or the purpose of the meeting Motion This is the key issues that are discussed and voted for in the meeting. Casting votes This is a process whereby members in the meeting decide on particular motion whether they agree or do not agree with the issue at hand. Proxy This is a representative who is in charge of a position of a member who is not present in the meeting. Tabled This is issued that have been raised to be discussed in the meeting. 4. Documentation in a meeting This are documentations written by the secretary. Meeting notices- this is the notification given to the members who will attend the meeting Agenda- this are the issues to be discussed in the meeting Reports –this are submissions on various activities undertaken by the business 5.Roles of minute taker The secretary who takes notes should have good listening and writing skills and should actively participate in every aspect of the meeting discussion. The minute taker should record correct information discussed during the meeting and later pass the minutes to the members. 6.Agenda for ALT international meeting held on 7th October 2015 at the ALT international head office, 133 federal avenues, Werribee Victoria 3030 in the boardroom from 1030-1130 hours. Call to order The meeting was call to order by the chairperson at 1005 hours and all members present confirmed their attendance. Minutes Budgets were discussed, and changes were made on the initial budget with ¾ members passing the budget Staff attendance The attendance of the members of the staff should be accounted for by the members present. Apologies are confirmed and the meeting issues from absent members are put forward. Sales target The sales target for the business is determined, and members agree on the set target. Timeliness The timelines of the meetings are set and the operations to be started by the business is set to December 2015. OHS The health regulation is revised and the confirmation of the certificate of compliance. Reports The reports on the sales and revenue are discussed Adjournment The meeting was adjourned by the chairperson; the next meeting was set to be held on Wednesday next month. 7.Tasks to be delegated when planning a meeting Meeting starts on time. Focus on the objective Ensures structured agendas. 8.Minutes for meeting held on 15th July, 2015 at the national office of old spice paper products, 199 tree Ave, Woodend Victoria from 10:30 am. Members present 1. Jack Stones (chairperson) 2. Gillian Collins (deputy chairperson) 3. Silvia Devola 4. Janice Bennett 5. Saul Rickman 6. Katherine Montigo 7. Joseph Patulio Absent with apology 1. Albert Brockwook Guest present Robinson Call to order The meeting was officially opened by the Chairperson by welcoming all the members present, and the previous meeting are confirmed and signed Minutes A letter from the ATO was discussed, and the sales tax exemption was confirmed Reports The human resource manager reported that one of the staff member resigned, and the chairperson ordered for a letter of recommendation for the employee. The sales & marketing manager presented the monthly sales report. The launch of new party goods was discussed in depth, and the members agreed to have the sales team to undertake further research. Reports on current performance against sales target were presented. The OHS report was tabled but was differed for the next meeting due to fewer details available. The enterprise bargaining agreement was resolved Adjournment The meeting was adjourned, and the next meeting was scheduled for 15th August 9.Anti-discrimination legislation This are regulations meant to prevent the business from unfair competition from other well-established businesses. This also covers the business employees from being unfairly treated based on their age, gender, and race. Ethical principles This are codes of conduct that handle ensuring that the business and its employees work based on the set principles of good conducts. Codes of practice This are regulations that binds business and its employees from operating business activities in an orderly way without having to collide each other. Privacy laws This is laws that prevent the business from leakage of important information to the public. Work healthy and safety This is set standards that regulates the quality of services and products produced by the business. They are also responsible for ensuring that the health of employees is maintained, and products are not contaminated. Read More