Introducing a New Beverage Product in the UAE - Assignment Example

Name Instructor Course Date Business Plan The business aims at introducing a new beverage product in the UAE. As such, the product will be competing with beverage giants such as Red Bull and Monster. The company will deal with the production and sale of the energy drink (VineYard Energy Drink) in the new market. The drink will be produced and stored in warehouses where possible suppliers can distribute the product. Market Research The UAE market has witnessed a sporadic growth in the demand for the beverage. The food and beverage export in the region stands at USD 33 billion by 2010. Tentatively, the governing bodies have created a sound political and legal environment that can support foreign investors. UAE offers an opportunity to invest the product. The competitors in the industry include Locazade, Monster Energy and Red Bull. Vision The company aims at the being the market leader in UAE Mission i. To create value and make a difference in the beverage industry ii. To inspire optimisms in its product Performance Objectives and Measurements The organization seeks to have a determined workforce that functions towards the attainment of an effective and competent team. Tentatively, the company should exhibit competitive advantage against the well established superior brands. Through consultation with affiliated stakeholders, it was evident that the company was competitively disadvantaged in the new market. Hence, it is paramount that the entire workforce strives in attaining excellence. Financial, human and Physical Resources Human Resource A feasibility study is to be conducted in the region outlining the possible socio-cultural factors that pertains to the human workforce. As such, understanding the culture of the people living in UAE is imperative in creating a proffered organizational culture. It is important that the organization develops an effective organizational culture for its employees. Given the different departments under the organization, a recruitment process has to be created. Interview will be consolidated in creating the most suited employees. Financial Resources Adequate funds have to be acquired. It is essential that the organization acquires enough financial support in entering the new market. Additional loans will be secured from the local bank in facilitating the implementing the business plan. Adequate financial resources are imperative since it offers the organization the planned flexibility in operating within the market. Physical Resources Some of the physical resources that will be used include storage warehouses, utilities and distribution centers. The initial phase will necessitate renting of building in order to give the organization the opportunity to study the market dynamics. Factories have to be set up for the production and distribution of the product. Therefore, land has to be acquired to facilitate the construction of the factories. Permits UAE food regulations body necessitate that any food processing company be accredited by the Abu Dhabi Food Control Authority (ABFCA). These regulations are aimed at the provisioning of quality and safety standards with goods that are commonly used by the general public. Since the organization that is initiating this product is a foreign country, it is compelled to adhere to the regulations from the local authority in gaining appropriate operation permits; since they are allowed to operate in “Free Zones”. PART B Question 1 Training and skill building meeting; this meetings will be held at the end of every two months. They will outline specific training objectives and initiate training. Report and information oriented meetings will offer an annual report of the organization’s external aspects and address pertinent internal issues. Types of Feedback Evaluative Feedback will highlight areas that need improvement Effective feedback will enhance the employee’s understanding of the suggested strategies employed by the organization. The employees will be required to function and adhere to the organization’s objectives. Effective employees will be rewarded. A rigorous recruitment process will ensure that effective and competent staff members are employed. Question 2 Testing the performance management system is a multifaceted approach where the organizational outcome will determine the effectiveness of the systems. The system may probably be bound to performance indicators that do not function at intended, undesirable behaviors and conflicting indicators. Thereafter, ineffective elements are then changed in line with the organization’s needs. However, changing performance management needs is a never ending process. Through a six sigma approach, the performance reports can be sidelined against the organization’s objectives. Question 3 An Integrated Enterprise Performance Management report will be used in assessing whether employees are meeting the organization’s objectives. Evidently, it consolidates budgeting and financial planning along with the company’s objectives. The employee’s performance will be integrated where relevant information will be deduced for presenting proffered decision making and performance improvement. By aligning and consolidating the above process, an overall assessment pertaining employee performance will be covered holistically. Question 4 A business impact analysis (BIA) will be conducted on the business. As such, it will dispel fundamental components of the organization’s business continuance plan. It consolidates the explanatory components that reveal any vulnerability, as well as, planning components that develops strategies for minimizing the risks. One of the important assumptions is that the every component of the business relies on its continued functioning. Question 5 Underperforming individuals or group of individuals is detrimental in maintaining the organization’s objectives. Coaching will be used in assisting such individuals. Evidently, since coaching focuses on unlocking the individual’s potential to maximizing performance; it will primarily use a non-directive coaching approach. This will enhance the individual’s openness in outlining specific weaknesses contributing to the reduced performance. An effective coach will go beyond their boundaries, in articulating a proffered approach. The Individuals will be allowed to identify their weaknesses and offer possible solutions that adequately solve the issues. Through such a collaborative relationship the underperforming individuals are encouraged to understand their values while attaining their goals. Through a supportive, detached and a perceptive approach they can significantly improve the roles done by such individuals in the organization. Question 6 The successful implementation of the business plan will be realized primarily through monitoring the firm’s progress against the priorities and objectives identified by the organization. The organizations will monitor performance and progress along with its strategic plan through existing Performance Management systems. Each performance review will be sidelined against a specific objective. An operation will be assessed at predetermined frequencies that present the degree of efficiency. This will significantly improve the realization of each objective. A scorecard will then be developed detailing particular success or failure of the entire project. Consequently, a delivery plan will be consolidated such that an in-depth analysis is conducted on key organizational objectives. Question 7 Six Sigma A six sigma approach will be used as the proffered continuous improvement systems. Simply put, this is a closed looped and continuous improvement process. The approach will be derived from the business plan that dispels the organization’s goals and pertinent performance measurements. The organization will follow the MAIC discipline. It will measure the existing gap between the present processes capability against the business’s goals, analyze probable causes if the defects, improve organization’s capability through eliminating the defects and control new processes in maintaining improvements. Read More