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Starting a Business, Develop a new department - Research Paper Example

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Starting a Business {Your Name} / Number} {Date} 1. Introduction The current economic climate is less than business friendly given the large amount of market competition and the pervasive recession. In this situation businesses that are firmly grounded with decades of business operation history are far more secure than new businesses…
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Starting a Business, Develop a new department
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Download file to see previous pages However a number of other factors merit attention too such as development of products and services such that market competition is firmly dealt with. Moreover new businesses need to consider how positions would be manned in the new business along with the development, training and retention mechanisms. Similarly if the business is working in a unique sector it may be necessary to recruit human resources from existing businesses without violating ethical or legal norms. Similar attention to detail must be paid to the facet of marketing without which there would be little point in creating products or services. Only effective marketing to the appropriate target market segment could ensure that the product or service is being consumed as intended. A system for support and services may also be required along with marketing and other facets if the business operations require after sales support and services. Ethical and legislative considerations must always be considered no matter what the business size, the market constraints or other restrictions might be. Effective ethical and legislative enforcement mechanisms must be installed in businesses from the top to the bottom to ensure sustainability. Business history proves that large corporations such as Enron and WorldCom came crashing down when legislative requirement and ethical considerations were put into the background. These considerations are presented below in greater detail for a fertilizer manufacturing, marketing and distribution business located in the third world. 2. Considerations 2.1. Product and Services Development One of the most vital aspects of any business is its products or services or a combination of both that are critical to generating revenue. Within a theoretical framework businesses are essentially created in order to generate revenue so the facets of product and services development are vital too. Given the fact that this text will be considering a fertilizer business it is apparent that fertilizer has been developed as a product since the 1930’s so there is little need for research into making urea fertilizer. The current production methods rely largely on using methane through a host of different processes after which urea is created. However these production methods are not continually updated so there is little need for a research mechanism to be in place. Hence the business that would be initiated in order to create urea fertilizer would require equipment and machinery that would convert methane gas into urea but would not necessarily require a research framework. In most given cases large licensors who are attuned to designing and installing new fertilizer complexes are contracted to cover the design and build aspects of the plant. Once the plant is commissioned it is handed over to an operations and maintenance staff who are essential to the product development facet. Therefore in order to start a fertilizer manufacturing business it would be necessary to hire outside contractors who would design and build the plant in the supervision of the principal’s staff. Once the plant goes online, more manning would be required to deal with the production and maintenance aspects. It would be preferable to hire production and maintenance personnel who are previously experienced in dealing with fertilizer plants because certain aspects of a fertilizer plant are safety and ...Download file to see next pagesRead More
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