Implementation, Strategic Controls - Online State of the Art Educational Portal - Essay Example

Company analysis affiliation Company analysis Educational s have been a target for many entrepreneurs. With an increasing population the demand for education is increasing significantly. This provides a good option for a business venture. According to Nykiel (2003) this venture has a 70% possibility of making a cut as a successful business or venture. However, the physical institution competitors are increasing each and every day. The numbers of these institutions are cropping up at the dawn of each day. As much as the increasing population provides high demand, dealing with very many competitors may make it difficult to achieve entrepreneurial goals. It is due to this reason I choose to venture in the education sector but in a different venture. The business venture is the Online State of the Art Educational Portal. The venture can also be referred to in personal state of the art educational portal. With parents with the thirst of interactive education for their children this venture aims to prove a quench of that. This approach is unique and provides the best quality form of education. To add to its advantages, the approach involves the integration of parents who outline the weaknesses and strengths of a child. Additionally, the approach a rectangular circulation and interaction of tasks. It provides a child-parent-teacher interaction basis. This mode of interaction lacks in most educational systems. With current trends taking over in the society, parents need to be part and parcel of their children growth and this approach provides the best medium of interaction. The implementation of this approach however must come with its shortcomings. It is this logic assumption that makes it possible to have a business environmental analysis. Both the internal and external environment factors can affect this venture. With the environmental analysis, there is a clear picture of shortcomings and the possible ways to dealing with them (De Wit, 2003). Apart from the external environmental analysis there is the need for a SWOT analysis. The SWOT analysis provides the entrepreneur with a picture of their strength and weaknesses. It is satisfied by one maximizing on their strengths and avoiding and dealing with their weaknesses. Additionally, the analysis tends to provide warning to an organization on which parts to cushion to prevent heavy losses caused by misfortunes. External environmental factors are factors which are not in the capacity of the institution to deal with. However, they must be considered since they affect the operations of the institutions. They include government policies, cultural factors, political influence and competitors. These factors affect the institution both directly and indirectly. To control the effect of these factors, proper and appropriate strategies should be applied (Pushparaj, 2010). Any management strategy should focus on how to minimize the risk involved by the effects of the external factors. For instance, the management should consider compliance of all the government laws and policies. These include paying of taxes, having the standards of running an institution and following the certified curriculum. Satisfying the cultural and religious differences is a hard task. However, the institution must have ethics which govern the operations and the behaviors of all students and tutors. Additionally, the institution should respect all kids regardless their religion or cultural background. As an emerging trend racism should not be a heard case in the institution. Political instability may also affect the operation of the institution. Both asset security and normal operations would be involved. In case of political instability, many children may stay away from the institution and the assets face the risk of destruction. The realization to fulfill the need to address external business factors may put the institution in a good position to realize its goals. The SWOT analysis on the other hand serves to address the internal issues and factors. These factors are within the influence of the institution. One of the issues that need to be addressed is the issue of task allocation. In this institution, teachers, students and parent have roles to play. The tutors have the role of educating the kids and also instilling discipline. Parents have the obligation of participation in child discipline and analyzing of their performance. Kids on the other hand, have little on their since they ate under the control of the tutors and parents. The management should ensure that all parties stick to their tasks and appropriately. Another issue is the allocation of resources and management of finances. This aims at employee motivation and reward. As required by the law and by ethics, every employee is entitled to wages worth their services. The budget and financial information for the institution depends solely on the worth of the institution. Apart from the financial analysis, the institution needs to calculate the cost of resource allocation. Firstly, in any academic institution tools for learning are a common feature. The institution should calculate the cost of infrastructure, IT advancements, money required to run the institution. Wages should also be included. With this analysis, the financial prediction and running will be under control. A well budgeted financial management plan will have a high positive significance on the implementation process of all the policies the institution needs. The evaluation of the financial position and prediction is one of the crucial success factors the institution relies upon. In coming up with a actual financial structure may prove difficult before the implementation stage. Depending on levels and content, different kids may pay different fees to the institution. However, a realization to implement this approach depends on the success of the first half period into the venture. The financial future of the institution is predicted to rise with years since the approach would have gained much more support and popularity. With the venture costing an approximately $15 million, it would take a run of two to four financial tears for the returns to be realized. With full education programs annually, it is estimated that about $ 5 million will be raised. After the three financial years, the institutions profits and revenues may be aimed at improving infrastructure and advancing learning resources. In the graph below, the Y-axis represents the financial years of years while the scale on the X –axis represents the profit return levels. In the financial prediction, the first year will have lower returns compared to the second and third year. It is at the end of the three years that the institution investments would be returned. After the implementation of the approach the first year will have less profit. In the following years the profit returns are set to increase since consumers will be aware of the existence of the approach. Additionally, in the second and third years the venture would have gained market stability hence the rise in profit returns. To safeguard the institutions assets and investors’ value, the institution should include a very efficient risk management program (Pushparaj, 2010). The program should cushion the institution from any form of risk. The program should also provide accurate predictions on possible risks. Just as the main feature of all risk management programs, mitigation should be the first priority of the institution’s risk management program. The success of the institution lies on whether the management will properly evaluate all the internal and external business environment factors. The strategic plan of the institution lies in the obligation of the management. Tutors and parents also play a major role in the success of the approach. However, with a strategic SWOT analysis the approach and the implementation of the plan and idea would be an easy task. Additionally, the proper tackling of the environmental factors provides the institution with a greater competitive advantage. References De Wit, M. (2003). Strategy: Process, Content, and Context. Thomson Business Press, London. Nykiel, R. (2003). Marketing your business: a guide to developing a strategic plan. London: Rout ledge. Pushparaj, A. (2010). The Economic factors affecting business environment. 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