Nobody downloaded yet

How to start a new business in engineering field - Essay Example

Comments (0) Cite this document
Summary
Business means to invest something in order to achieve something which is desired. That is, giving some required input for the purpose…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.2% of users find it useful
How to start a new business in engineering field
Read TextPreview

Extract of sample "How to start a new business in engineering field"

Download file to see previous pages Proper cost effective and suitable policies should be applied by any organization to expand it and make it profitable and successful.
Success of any business is dependent on the management policies applied by the organization that is operating that specific business. If the policies are only person oriented or productions oriented, then the objectives can not be achieved successfully but if both of the entities are taken into consideration while making policies, then the objectives are achieved efficiently and the business becomes profitable. A business is said to be profitable and successful when it provides profit and benefits in return of the investment done by the owner of that specific business. When the tasks or objectives set by the management personals of the business are not achieved efficiently or effectively, it is said that the business is not profitable or cost-effective.
These factors should be kept in mind and should be analyzed properly before starting any sort of new business because they have a major and crucial impact on the success and expansion of any specific business. Without a correct and appropriate analysis and in depth study of these factors, success of a new business can not be achieved rather it will result in loss on the investment.
These were the services which our company will provide to its customers. Now, let’s get to know those key points which should be taken in proper consideration while starting any new business in the field of engineering.
Now the question is of market value of our firm which means whether the area, where we are going to start our firm, is suitable or not. We should have information of all other companies or construction firms working already in that area where we are going to start our firm. In this case we will be able to analyze our competitors who are already in that specific engineering business. We should analyze the strengths and weaknesses of our competing construction firms ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“How to start a new business in engineering field Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1561021-how-to-start-a-new-business-in-engineering-field
(How to Start a New Business in Engineering Field Essay)
https://studentshare.org/miscellaneous/1561021-how-to-start-a-new-business-in-engineering-field.
“How to Start a New Business in Engineering Field Essay”, n.d. https://studentshare.org/miscellaneous/1561021-how-to-start-a-new-business-in-engineering-field.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF How to start a new business in engineering field

Start Up Shoe Business

...? Start Up Shoe Business- OPERATIONAL PLAN Table of Contents Production 3 Location 4 Legal Environment 4 Personnel 7 Inventory 8 Suppliers 9 Credit Policies 10 Account Receivable and Payable 10 Reference 12 Start Up Shoe Business- OPERATIONAL PLAN Production HIGHLOWS shoe will have three adjustable heights i.e. high heel, medium heel and low heel. All these three heights can be adjusted in a single product. The heel of this innovative product will be of hard plastic. It can be rotated to adjust the desired heights from three default sizes. This feature is the key attractive feature of the product. Manufacturing cost of this product would be $25. The company will...
8 Pages(2000 words)Essay

THE FIELD OF CIVIL ENGINEERING

...?The Field of Civil Engineering Introduction The field of Civil Engineering is known to be the second oldest engineering after military engineering. It is a discipline that focuses mainly on the design, construction and maintenance of the environment; both natural and physical (Civil Engineering Portal, 2010). Generally, civil engineering focuses on infrastructural development. Among its most significant subdivisions include structural engineering, irrigation engineering, transportation engineering, water resources engineering, hydraulic...
2 Pages(500 words)Term Paper

How to start a new business venture

...?How to start a new business venture Table of Contents Table of Contents 2 Introduction 3 Proposed Services 3 Analysis of the market in London 4 Evaluation of Management Strategies 12 Conclusion and Recommendation 13 Reference 14 Bibliography 15 Introduction The fitness and the health industry is estimated approximately ?4bn with a growth of around 1% during the recession with customer base of around seven million users which has grown 12% over the last 20 years. With this growing industry, London is one of the major contributors for the growth in UK and the potential customer base in that region can act as a great catalyst to increase the business in...
9 Pages(2250 words)Essay

How to start a new business venture

...?How to start a new business venture: Marketing Plan Table of Contents Introduction 4 2.Background of Scenario 4 3.Situational Analysis 5 3 Marco-environmental Factors 5 3.1.1.Political 5 3.1.2.Economic 5 3.1.3.Socio-cultural 6 3.1.4.Technology 7 3.2.Industry Analysis (Five Forces) 7 3.2.1.Bargaining power of suppliers 8 3.2.2.Bargaining power of consumer 9 3.2.3.Threat from new entrants 11 3.2.4.Threat from substitute 11 3.2.5.Existing rivalry 11 4.Market Segmentation and targeting 11 5.Strategic Directions 12 5.1.1.Ansoff Matrix 12 5.1.2.Porter’s Generic Strategy 13 6.Proposed Marketing Mix for the Venture 14 6.1.1.Product/Service 14 6.1.2.Price 15...
9 Pages(2250 words)Essay

Business Start Up

.... There is a new trend of family business education programs which includes disciplines like management development, financial planning, family systems, retirement, transitional planning and communication etc (Kent, 1990, p.127). Enterpreneurial education imperative, different and opposing convergence, equips the individuals towards efficiency and sure footed ness. Reflective Writing: Starting up a venture of our own has been an exciting, exhilerating and overwhelming experience. Our decided venture is a company specialising in producing customised cakes and crepes. As I have plunged deeper into the intricacies of managing my own business, I daily find myself facing many...
8 Pages(2000 words)Essay

The Engineering Field

...conditions, the lifetime expected from the infrastructure and even government regulations. Civil engineering itself incorporates many different specializations that are in one way or another related to one another. These disciplines have gradually evolved over time as new realities forced engineers to seek better ways to cope. Some of the major components of civil engineering include structural, environmental, geotechnical water, construction and urban planning. Normally in practice these fields relate to each other as engineers do their work. The most conspicuous field that comes to mind whenever someone talks about...
5 Pages(1250 words)Research Paper

How to Start a Business in USA

...?How to start a business in USA: Table of Contents: Introduction 2 Importance of intellectual property 2-3 Introduction: There are many obstacles faced by an individual who wishes to start a business from step one and has to go all the way through in the time ahead. Though one may have many riveting business concepts, applying them in practical life forms another story and may leave one highly anxious and infuriated about myriad different aspects. Mental preparation can also come in handy and save one from a lot of nasty pressures if the hardships and challenges become too big to tolerate amidst starting a...
5 Pages(1250 words)Essay

Three Steps To Start a New Business

...? Three Steps to Start a New Business THREE STEPS TO START A NEW BUSINESS Introduction Most entrepreneurs will agree that startingup a business is tricky at any time, whether in a recession or during economic growth. However, even when there is a recession, the most serious entrepreneurs will shake off the poor forecasts and focus on their business ideas. One good reason for beginning a business during a recession is that things will only get better with an improvement in economic conditions (Bradberry, 2011). In addition, the entrepreneur will learn a lot, which he/she can use during the...
5 Pages(1250 words)Term Paper

New Business Start Up

...Running Head: NEW BUSINESS START UP New Business Start Up of Background and Introduction For the purpose of starting a new business I will introduce a new product in United Kingdom with a brand extension for parent company i.e. Radiant Co. which is based in United States of America. They have the business of skin care related products which includes different beauty soaps, different creams for different needs, cosmetics products, sun block lotions, cleansers and moisturizers etc. They have established name world wide. Now they are planning to introduce a...
15 Pages(3750 words)Essay

Why New Business Start-Ups Fail

...to the success of a business. Some locations may not be suitable for business, and entrepreneurs err in settling in such areas. In a marketing mix, location is one of the greatest aspects relating to the customers. When a business is not at an appropriate location, the customers find it difficult to gain access to the business; thus, becoming irrelevant to the business. The Importance of sound business model A sound business model is important to a business start-up in the sense that it gives a determination as to how the entity intends to collect its revenues. This is...
9 Pages(2250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic How to start a new business in engineering field for FREE!

Contact Us