Business Plan 2019

A BUSINESS PLAN ON “NAVIN ELECTRONICS”AT SURAT CITY

Project submitted to the

METAS ADVENTIST COLLEGE

Accredited by NAAC ‘B’
Athwalines, Surat
In partial fulfilment of the requirements for the award of the Degree of

BACHELOR OF BUSINESS ADMINISTRATION

Submitted by
Ranjan Dalpati (B1600264)
Under the Guidance of
Miss. Richa Sunil

Assistant Professor

Department of Management

THE NORTH EASTERN HILL UNIVERSITY (NEHU)

SHILLONG, MEGHALAYA

JANUARY – 2019

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Company letter head

Date: 23/01/2019

CERTIFICATE OF COMPLETION OF ENTREPRENEURSHIP PROJECT 2018

This is to certify that Mr. Ranjan Dalpati, ID.No D237 a student of BACHELORS OF BUSINESS
ADMINISTRATION of METAS Adventist College, Athwalines, Surat has successfully completed an
Entrepreneurship project titled “A BUSINESS PLAN ON “Navin Electronics “AT SURAT CITY” in our
company for a period from 22/ 12 / 2018 to 21 / 01 / 2019 under the guidance of company guide Mr.
Rakesh.

During the period of her project work with us he had been exposed to different process was found
punctual, hardworking and inquisitive.

We wish him the very best in all his future endeavours.

With Regards

Ashutosh Jetwani

Director

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CERTIFICATE (College)

This is to certify that Ms. Ranjan Dalpati ID.No D 237 has successfully completed his Internship
entitled ―A BUSINESS PLAN ON “Navin Electronics “ AT SURAT CITY in partial fulfilment of the
curriculum of BACHELORS OF BUSINESS ADMINISTRATION is a record of original
Entrepreneurship project done during the period from December 2018 to January 2019 of her study in the
Department of Management at METAS Adventist College, Athwalines , Surat affiliated to North
Eastern Hill University (NEHU), Shillong under my supervision and guidance.
We appreciate his efforts and wish him all the best in her future endeavours.

Place : Surat

Date: 23/01/2019 SIGNATURE OF THE GUIDE

Miss. Richa Sunil

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DECLARATION

I, Ranjan Dalpati, ID.No D237 hereby declare that the

Entrepreneurship project entitled “A BUSINESS PLAN ON “Navin Electronics “AT SURAT CITY”,
submitted to the METAS ADVENTIST COLLEGE, in partial fulfilment of the curriculum of
BACHELOR OF BUSINESS ADMINISTRATION is a record of original project work done by me
during the period from December 2018 to January 2019 under the supervision and guidance of Miss.
Richa Sunil , Assistant Professor, Department of Management, METAS Adventist College and is not
reproduced from any existing work of any other person or on any earlier work undertaken at any other
time or for any other purpose, and has not been submitted anywhere else at any time.

Place:

Surat (Ranjan Dalpati)

Date: 23/01/2018 D237

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ACKNOWLEDGEMENT

If the words are considered as symbols of approval and token of acknowledgement, then let them
play the heralding role of expressing my gratitude to all those who have helped me directly or indirectly
during this project.

I would like to express my sincere thanks to supervisor Mr. Rakesh, Navin Electronics for
providing me an opportunity to work with him. The company employees are quite generous to devote
their time and energy in sharing knowledge and assistance to my project. My association with them will
be of a fond memory.

I wish to place on record my deepest sense of gratitude to our beloved

President & CEO Dr. Srikakolli Eliah, and our respectful Vice-President Mr. N. Mohan Rao, METAS
Adventist College, Athwalines, Surat for giving me a golden opportunity to undergo a real time
Entrepreneurship project.

I express my sincere gratitude to Miss. Richa Sunil Project guide, Department of Management,
METAS Adventist College, Athwalines, Surat and my department staff members for their support,
valuable suggestions and guidance throughout the project work.

I extremely appreciate the love, support, understanding and sustaining encouragement of my

Parents and Friends who helped me throughout the process and preparation of this Entrepreneurship
project report.

Ranjan Dalpati

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CONTENTS

Chapter Page
Title
No. No.
INTRODUCTION
I

EXECUTIVE SUMMARY
II

INDUSTRYANALYSIS
III

DESCRIPTION OF VENTURE

IV

PRODUCTION PLAN
V

OPERATIONAL PLAN
VI

MARKETING PLAN
VII

VIII ORGANIZATIONAL PLAN

IX ASSESSMENT OF RISK

FINANCIAL PLAN
X

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I. Introductory Page

A. Name and address of business

Work Office: -

G- 4, Shivalik Western,

Besides Bank of Baroda,

Nr. TGB, L.P. Savani Road,

Adajan, Surat

B. Nature of business
It has been 7 long years now since ‘Navin Electronics’ has been bestowing us with
exceptional quality electronic products. But it was not easy to be one of the most trusted
electronics stores in Surat. It was only possible due to the unshaken faith of Anil Jetwani
& Sushil Jetwani who drove the store to the top to become one of the best. Their success
story is a quintessence of what a human can do only if he or she just believes in oneself!

Even after all these years of success, there is one thing Anil Jetwani always goes that extra
mile for. That one thing is customer satisfaction. They believed from the very start that the
only factor that affects the business highly is customer satisfaction. They belonged to a
business family from the start and we suppose it was in their blood that they had the
courage to take all the risks and still make it to the top! Their hard work and dedication has
outrun every other competitor in the market and helped them make a name for themselves.
A name everyone trusts.

It was Anil’s father who’d envisioned the journey by dreaming about opening an
electronics store. Electronic products were not very famous back then. People were
astonished by the radio and would consider it as a miracle! As the revolution begun and
proceeded, Anil was all grown and determined to lead his father’s dream into the booming
future of reality! He faced oceans of hardships but his will didn’t deter. He was determined

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to turn his father’s dream into a reality and he did it. He finally inaugurated the first outlet
in 2005 and called it ‘Navin Electronics’. Since then, the hasn’t looked back and is moving
in full throttle towards his next goal. The goal of turning ‘Navin Electronics’ into a brand
and having an at least 500 employees working for him.

Today on 15th May 2017, ‘Navin Electronics’ is celebrating its 7 years of enduring
journey to success. We highly recommend all the Surtis to buy electronics from ‘Navin
Electronics’ as there is hardly anywhere else you’ll get the the fine quality you’ll enjoy
here.

C. Nature of Business
We are starting an electronic company that we intend to make the most preferred
electronic shop here in Navin Electronics and so as to be able to favourably compete
against our competitors by having competitive strategies that will help us to achieve our
vision of becoming industry leaders.

To be able to favourably compete, we intend to be one of the few shops with a

customized truck that will ensure we sell cell phones to customers in strategic
locations.

One of our competitive advantages is in sourcing for and recruiting highly experienced
personnel who are not only competent but who understands the electronics market and
how best the business can attain its desired goals and objectives. Our employees also
understand our core ideologies and are committed to ensuring that we achieve our
vision.

Due to low entry barriers, competition in this industry is quite stiff and most businesses
that haven’t been able to innovate or offer something completely new have failed. This is
why before going into this business we have carried out a thorough research that will
ensure that the field we intend going into in our region, has less competition for you to
battle with.

This is not to say that in offering unique services that we will prevent the larger companies
from offering it and staking a claim in our market share, but we will be proactive and good
to our customers so that we can still get to retain most of your customer base and revenue.

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Another competitive advantage we have is our excellent customer service culture which
has allowed us to retain a high level of customers who have also referred others to our
cell phone store.

Finally, our employees are well paid and have a welfare package that is the best across the
industry and amongst similar start-ups here in Navin Electronics,Adajan as well as around
the Branches in Surat. The great welfare package will allow the employees focus on the
business, motivate them and also ensure that they help in achieving all aims and objectives
of Excellent Electronics Store.

D. Statement of financing needed

The Start- up expenses for the business will be financed by the founder using
Rs.15,00,000/- of saving to build the advertisement and purchase necessary equipment’s
starting inventory will be purchased with the founder’s credit card. There were funds
financed for only one outlet initially which tend to grow all across Surat and outer areas’,
the growing of all the outlet is completely funded by the profit received in the business
throughout.

E. Statement of confidentiality of report

The undersigned reader acknowledges that the information provided

by Navin Electronics in the business plan is confidential; therefore,
reader agrees not to disclose it without the express written permission
of the CEO of Navin Electronics.

It is acknowledged by reader that information to be furnished in this

business plan is in all respects confidential in nature, other than
information which is in the public domain through other means and

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that any disclosure or use of same by reader may cause serious harm
or damage to membership.

Upon request, this document is to be immediately returned to CEO.

Mr. Rakesh

1/02/2019

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II. Executive Summary

Unit 1: -

Introductory Page

It follows the quality management programmes at each level in order to maintain the
quality of varied construction services. The quality experts keep a strict vigilance upon
the whole process, right from the deliverance of variegated services till the evaluation
stages. Unit 2: -

Industry Analysis

This is generally done to give entrepreneurs an idea about the industry they are involved
in or have decided to invest it.

Micheal Porters study of competitive strategy is the potential for customer new,
bargaining power of buyers and suppliers, nature of competition of the competitors.

The firm is in the possession of huge industry experience and high prophecy for more
than a decade. The small business will get more specialised, start-up will get easier and
cheaper, big and small firms will join forces.

The product has close competitor, direct competitor strong v/s competitor.

The decision of target market into different groups markets consists of buyers and sellers
which differ in or more ways, in their wants, resources, locations and buying practices.

The market forecast projects the future member ‘s characteristics and trends in the target
market.

Unit 5: -

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Operational Plan
The firm distributes the product (goods) to the redistributed to retailers to wholesalers or
directly to consumer. They distribute in bulk and export it.

Flow of goods and services is through the, direct (sales team, catalogue, internet)
consultant dealer, retail and sales agent.

The firm uses the technology are the automated order the writing and submission
solutions, an omni-channel strategy with multiple digital options and stepped-up
enterprise resource planning software.

Unit 7: -

Organizational Plan

The business ownership structures for the firm sole proprietorship (owned by a single
individual) partnership creating the articles of partnership, combined knowledge and skills
using the strength of each partner for better business decision-making greater availability.

The roles and responsibility of the members of the organization ‘s is to help each other
succeed to accomplish the company’s goals and provide their expertise on different
projects and duties. The organization consists of the executive officers, research and
development team, operations and production team, sales and marketing team, accounting
and finance team. The firm assigns responsibilities that each team can accomplish in order
to keep the company running and to provide profits.

Unit 8: -

Assessment of Risk

Qualitative risk assessment requires calculations of components like the magnitude of the
potential loss, the profitability that the loss will occur.
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The technology is implemented to attract broadcasting looms, big data and to help
customer services. The contingency plans are often developed to explore and prepare for
an eventuality. It is devised for an outcome other than the usual (expected) plan.

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III. Industry Analysis

A tool designed to conduct the market assessment of a particular industry to identify the
factors that influence the industry, is known as industry analysis. Factors such as social,
economic, political, cultural etc. studied. This is generally done to give entrepreneurs an
idea about the industry they are involved in or have decided to invest in.

Industry analysis can be done in 2 ways:

a. Porter ‘s five forces analysis

Michael Porter mentioned in his book ‗Competitive strategy ‘, the techniques to analyse
industries and competitors. He proposed that the attractiveness of an industry depends on
these five forces. He also mentioned that these five forces are the reasons for the rivalry
between competitors. The five forces are:

i) The potential for new competitors to enter the market: This determines the ease of
entry for a new entrant. It determines how easy or difficult it is for a new investor to enter
a certain market. Some of the barriers to the ease of entrant are economies of scale, huge
capital requirements, cost of switching to the consumers, accessibility to the distribution
channels, degree to which the product can be differentiated, customer ‘s brand loyalty,
Government policies pertaining to the sector etc.

Example: It is very difficult to enter well established and capital intensive industries like
Steel industries, heavy machinery etc. On the other hand, it is rather easy to enter
electronics and technology based industries, since, customers will buy products that are
more technologically advanced.

ii) The bargaining power of buyers: Often, the future of an industry is dependent on
the buyers. Buyers sometimes, have the power to influence the industry by asking for

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more discount, better quality, additional features etc. Also, a single buyer is very
important to some sectors of the market. The buyer has many options available; the cost
of switching to other product is relatively less.

Example: The apparel industry is one such example. Buyers have all the power here. The
industry has to change the products according to the buyer ‘s demands, choices, sizes etc.
While, in industries like that of Oil or natural gas, the bargaining power of buyer almost
does not exist.

iii) The bargaining power of suppliers: Just like buyers, suppliers also have a
bargaining power. Pertaining to which, they may affect the overall industry. Supplier
power exists when there are very few suppliers, there are no substitutes to the supplier ‘s
products, the switching costs of suppliers are higher, when the suppliers are more
resourceful etc.

Example: The PC, laptop industry is highly dependent on Intel for the supply of
microprocessors. AMD also supplies micro- processors, but consumers generally do not
prefer AMD. Thus, Intel has a greater bargaining power in the PC, laptop industry.

iv) The availability of substitutes: If a certain product of the same quality is available
in the market, at a lower price, consumers tend to buy the product with lesser cost. This is
how substitutes influence the industry. They tend to reduce costs and thus profits. The
only way this effect can be encountered is by product differentiation.

Example: Apple products are one of a kind type. Once the consumer starts using Apple
products, hardly do they switch to cheaper substitutes.

v) The competitors and nature of competition: The main factors affecting the
competition in an industry are the number of well-established competitors in the industry,
high fixed costs, no product differentiation, relatively slow rate of growth etc. The
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competition can be seen in the form of price competitions, ad campaigns, new products
introduction, extra services being offered etc. The barriers to exit an industry along with
high customer loyalty etc. also give rise to competition.

Example: The electronics industry has the highest competition.

These five forces can be used to develop competitive strategy to enter a new market or
sustain in the existing markets.

b. Ratio analysis

Various ratios like ‗profit per employee ‘can be determined using your own industry ‘s
information and can be compared to the industries average as a whole. These ratios can
help determine the progress of the individual unit.

Industry analysis is very important for an entrepreneur. Investing or diversifying without

doing the industry analysis is like shooting a bird when one is blind folded.

Navin Electronics has a dexterous team of professionals who strive hard in order to attain
complete client satisfaction. The firm is in possession of huge industry experience and
high proficiency for more than a decade. The technicalities of varied requirements of the
structures like residential, industrial and government buildings are constructed using
optimum quality construction material. The team of civil engineers and architects work
hard in order to insure strength factors in various climatic conditions and natural
calamities like earthquake. The firm offer patrons with varied construction and designing
solutions in complains with the budgetary constraints of the clients. The offers
personalized construction services as per their customized needs and requirements.

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A. Future outlook and trends

Small businesses will get ever more specialized- Customers will increasingly seek
customized products and services. The rise of innovations such as cloud computing, a
flexible workforce and lower-cost manufacturing options will make it easier for small
businesses to seek out product and service niches.

Start-up will get easier and cheaper- In response to growing niche market opportunities,
lower equipment costs and better technology, it will be easier than ever to launch a
business without a big investment. This means more innovation, as new ideas can be
tested without much risk – and start-up companies will proliferate.

Big and small firms will join forces- Collaborative partnerships with big companies will
increase, as small companies bring to the table innovative practices, market agility and
intimate customer knowledge. What will big firms offer small businesses? Marketing and
distribution power so that they can take their innovations to broader markets.

Electronic stores are now offering the right products built around. Electronics were once
seen as a luxury item but now are seen as an essential commodity and even though there
have been economic downturns, the industry has had just a slight dent unlike other
industries that have gone down during economic downturns.

It is important to note though that the market is seen as mature in the India, and so they
might need to ensure that their company will provide an added service that customers will
be unable to resist.

They will also seek out insurance for their electronics shop business. An insurance cover
protects them from any sort of problems – both known and unforeseen – that they might
encounter in the course of carrying out their business. they have done so well by talking to
the best insurance that is good for their business, and have also consulted with to an
insurance agent or broker who will guide us on what is best for their business.
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Electronics are regarded as an inexpensive luxury that must not be done without. People
fear being cut off from the internet and from their loved ones. They also like the idea that
they are able to be abreast of global issues wherever they go via their electronic products.

B. Analysis of competitors
The marketing concept states to be successful, a company must provide greater customer
value and satisfaction than its competitors do. It has a tough competition with other while
it faces a little competition with other.

There are three types of competitor in the market. Product lines are discussed below.

• Close competitor

The products have direct competition in the markets; their products are close substitute
with each other. Both the products can influence the market share of one another through
effective strategies made to cope up with their competitors.

• Distant competitor

It means that their products satisfy the same want but they are in indirect competition with
one another.

• Strong v/s weak

The strong competitors make defence strategies so that it can maintain its position in the
market. While weak competitors are a challenger and it makes attack strategies so that it
can become the market leader.

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C. Market Segmentation
The decision of target market into different groups markets consist of buyers and sellers
which differ in one or more ways. They may differ in wants, resources, locations and
buying practice. Through market segmentation companies divide large, heterogeneous
markets into smaller segments that can be reached more efficiently and effectively with
products and services that match their unique products.

D. Industry and market forecast

A market forecast is a core component of a market analysis. It projects the future
numbers, characteristics, and trends in your target market. A standard analysis shows the
projected number of potential customers divided into segments.

This example of a simple market forecast defines two target market segments and projects
the potential customers in each of those segments by years, for five years.

Market size forecast

In the market forecast, the example numbers indicate that there are 25,000 home offices
included in the market, and that number is growing at an estimated ten percent per year.
There are also 10,000 small businesses in the area, and that number is growing at five
percent per year.

These numbers are estimates. Nobody really knows, but we all make educated guesses.
The developers of the plan researched the market as well as they could and then estimated
populations of target users in their area and the annual growth rates for each.

You can use your market forecast numbers to draw a chart of projected market growth,
like the one shown here below. It offers a visual view of the market forecast.

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Market value

Normally you would also look at market value, not just market size. For example,
although the high-end home segment is 2.5 times larger than the small business segment
as measured by number of customers, the small business customer spends almost four
times as much as the home office customer. Therefore, the small business market is a
more important market in terms of dollar value.

The important numbers in this table are the average purchase per customer and the market
value.

• Average purchase per customer is an educated guess based on experience. Sales

managers got together to make the estimate. Although they would have liked some
external source of information to use for this, there was none available. Notice that the
home office customer tends to purchase much less overall than the small business
customer.

• The market value is simple mathematics. Multiply the number of potential

customers in the market by the average purchase per customer. In this case they took the
average number of customers in each segment over the five-year forecast period, and
multiplied that by the average purchase per customer, to calculate the market value.

The other items in this table are subjective qualities that help with marketing. The
planners assign these points to people charged with preparing marketing materials.

Reality checks

A market forecast should always be subject to a reality check. When you think you have a
forecast, you need to find a way to check it for reality. In this case if the total market is
worth some estimate, you could estimate sales of all the competitors and see if the two

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numbers relate to each other. In an international market, you might check production and
import and export figures to see whether your estimates for annual shipments appear to be
in the same general range as published figures. You might check with vendors who sold
products to this market in some given year to see whether their results check with your
forecast. You might look for macro-economic data to confirm the relative size of this
market compared to other markets with similar characteristics.

Review target focus

The market analysis should lead to developing strategic market focus. That means
selecting the key target markets. This is the critical foundation of strategy. We talk about
it as segmentation and positioning.

Under normal circumstances, no company will attempt to address all the segments in a
market. As you select target segments, think about the inherent market differences, keys
to success, competitive advantage, and strengths and weaknesses of your company. You
want to focus on the best market, but the best one is not necessarily the largest one or the
one with the highest growth. It will be the one that matches your own company profile.

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IV. Description of Venture

A. Products
The Company provides electronics products and services to make them useful to private
users. They are especially focused on providing customer satisfaction to their esteemed
customers. The products include both hand held mobile telephone sets and servicing the
products after sales along with giving the necessary training and support.

In mobile phones, they support three main lines:

The less feature mobile telephone set, which is their smallest and least expensive line,
initially positioned by its manufacturer as low-income users. they use it mainly as a cheap
mobile phone for workers and non-professional people.

The Power User is their main up-scale line. It is their most important mobile telephone
set for high-end individual as classified for medium range of income, because of they are
the majority of the users, and they are requiring sets with more features and large
capacity batteries.

However, they offer a luxury type of mobile telephone set with extreme fancy looking and
elegant design, for the upper class of the society and manly for the Ladies who are
impressed for such model as part of their prestige in the society.

Key Features of Products:

The only way they can hope to differentiate well is to define the vision of the company
to be a technology ally to their clients. They will not be able to compete in any effective
way with the chains using boxes or products as appliances. They need to offer a real
alliance.

The benefits they sell include many intangibles: confidence, reliability, knowing that
somebody will be there to answer questions and help at the important times.

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These are complex products, products that require serious knowledge and experience
to use, and their competitors sell only the products themselves.

Unfortunately, they cannot sell the products at a higher price just because they offer
services; the market has shown that it will not support that concept. They have to also sell
the service and charge for it separately.

Production of Product:
As they are attending to be as a distributor for all of the major brand of Mobile Phone in
the market “.
Therefore, they will import or stock directly, and it will not be any kind of production in
their firm.
Moreover, their business will depend on retailing and not on production.

Moreover, there are total no. of 1266 products which they keep in their firm and sell to
their customers by describing all the uses features, and everything

They even ask the customer there need, what technology they want and hence give them a
choice suitable to them in various brands

B. Services
The firm is a quality oriented firm which provides quality services, in order to attain the
trust and faith of their client base. They also follow quality management programs at
various levels in order to maintain high quality construction services. In addition to these,
the varied professionals are trained and certified by the firm in order to carry out efficient
execution of quality services. These quality services are well reckoned with varied traits
like promptness, customer satisfaction, competitive pricing and timely execution. The
firm also renders optimum quality services in accordance with international acclaimed
quality standards.
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 Smart Products & Services

From connected coffee makers, vibration monitoring of industrial pumps to remote patient
monitoring devices - the network of physical objects embedded with software, sensors
and network connectivity is growing by the day. These smart products create fascinating
customer experiences while enhancing overall equipment effectiveness, availability and
quality.

Building Smart Products and Smart Services require product connectivity and data
availability. However, what makes a product uniquely smart is the ability to create deep
insights from the massive amounts of data. These insights help to create delightful
customer experiences, process automation, prompt breakdowns, and gather real-time
usage analytics for enhanced security.

The new science of the "smart products and services" is about overcoming challenges in
decision making of "what data to collect"; "how to collect, store and transmit securely"
and "what business insights to generate to help expand market share and build new
revenue ". All these require deep understanding of products and domains they are used in.

A service is a transaction in which no physical goods are transferred from the seller to the
buyer. The benefits of such a service are held to be demonstrated by the buyer's
willingness to make the exchange. Public services are those that society (nation state,
fiscal union, region) as a whole pay for. Using resources, skill, ingenuity, and experience,
service providers benefit service consumers. In service and support, they offer a range of
walk-in service and guarantees through there well capable workshop and professional
technician.

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Services play a major role in attracting a customer also it shows how much a firm is
dedicated to serve their services, because a person will only buy a product if in return he
gets a best service at any branch and at any time frame.

So here, in NAVIN ELECTRONICS the personal are so great in themselves to take a

proper care of all the customer from billing to end product service.

After and sales and during sales are two services NAVIN ELECTRONICS PROVIDE to
his customers: -

 They provide a best payment options to customer.

 They took feedback.
 They look over the grievance cell by setting up one personnel personally.
 They provide insurance policies.
 Walk in store repair.
 Guarantee
 Trust and loyalty they seek from customer
 Replacement
 Workshop for the illiterate to learn how to use mobile.
 Demo while buying the product.

These are some of the services for which NAVIN ELECTRONICS is very famous for.
They care for customers and Customers trust NAVIN ELECTRONICS.

NAVIN’S main motto towards success was to gain the trust and loyalty from the customer
by providing them best of the after sales service and Demo while buying the product.

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Holistic End to End Smart Product Development Framework

 Smart Manufacturing Services

Smart Manufacturing is the application of Integrated and Intelligent Information Systems

throughout the manufacturing and supply chain enterprise. Intelligence is built in the
entire lifecycle of design, engineering, planning, production, warehousing and distribution
of products. It provides seamless integration of physical and virtual worlds across the
manufacturing eco-system. Business Intelligence

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Through Smart Manufacturing Technologies will optimize the entire manufacturing

industry to create flexibility, better quality products, and higher productivity, increase
energy efficiency, and improve safety on the plant floor.

Smart Manufacturing Provides Flexibility, Connectivity & Intelligence

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 Industrial Products

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Technology is changing the way industrial product oems confront business challenges.

Our expertise in engineering industrial products helps you drive innovation and
efficiency, and retain a competitive edge. We help streamline the product development
value chain, enabling you to spearhead business growth.

 Transportation

With specialized services across air, rail, commercial, and passenger transport, we help
minimize production costs and engineering cycle times while maintaining excellence in
operations. Our team of engineers leverages best-in-class imaging and mechanical
technologies to deliver desired business outcomes. This empowers our customers to meet
and exceed global transport safety protocols, emission standards, and regulations.

C. Office equipment and Personnel

Due to how serious they are taking their business, they plan to build a standard cell phone
shop business here in Surat. and so they have set plans, processes and structures in place
that will allow them get it right from
the beginning in ensuring that they hire the right employees into all the available positions
in their cell phone shop.

Because they intend to become a leading brand as well as sell their franchises here in
Surat as well as areas nearby Surat, they carefully sourced for those that they would want
to be a part of their management team and they chose those that had the required
experience and understood what it takes to take their cell phone shop from where we are
to where we intend to be.

Also, their management team understands their core vision and ideology and is committed
to ensuring that they are able to attain them as fast as possible.
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Also, because they intend to offer various services and products to their various customers
as well as sell their franchise, they will employ more than the average cell phone shop so
that all their services at NAVIN ELECTRONICS will run smoothly in delivering the
various services to all their various customers.

Below is the business structure we intend to build at NAVIN ELECTRONICS:

• Chief Executive Officer

• Manager
• Human Resources and Admin Manager
• Accountants
• Marketing Team
• Customer Service Executives
• Sales Team
• Truck Driver
• Cleaners

As it is a retail outlet there are no particular equipment’s that is being used in the firm

Only thing used are:

Proper infrastructure.
Good lighting for best view to the customer.
Proper music system for customer (optional).
All the tools required to fix the damage phone.
Proper sitting arrangement for customers.
Computers for billing.
Card transaction machine.
CCTV cameras for the protection of the company
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VI. Operational Plan

A. Description of company ‘s operation

B. Flow of orders for goods and/or services

Distribution channels in marketing are one of the classic ―4 Ps‖ (product, promotion,
price, placement a.k.a. ―distribution‖). They ‘re a key element in your entire marketing
strategy — they help you expand your reach and grow revenue.

B2B and B2C companies can sell through a single distribution channel or through
multiple channels that may include:

• Wholesaler/Distributor

• Direct/Internet

• Direct/Catalogue

• Direct/Sales Team

• Value-Added Reseller (VAR)

• Consultant

• Dealer

• Retail

• Sales Agent/Manufacturer ‘s Rep

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Here are three examples of distribution channels in marketing:

To create a good distribution program, focus on the needs of your end-users.

• If users need personalized service, you can utilize a local dealer network or reseller
program to provide that service.

• If your users prefer to buy online, you can create an e-commerce website and
fulfilment system and sell direct; you can also sell to another online retailer or
distributor that can offer your product on their own sites.

• You can build your own specialized sales team to prospect and close deals directly
with customers.

Wholesalers, resellers, retailers, consultants and agents already have resources and
relationships to quickly bring your product to market. If you sell through these groups
instead of (or in addition to) selling direct, treat the entire channel as a group of customers
– and they are, since they ‘re buying your product and reselling it. Understand their needs
and deliver strong marketing programs; you ‘ll maximize everyone ‘s revenue in the
process.

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Distribution Channels Concepts & Steps

Before you begin: -

You can evaluate a new distribution channel or improve your channel marketing /
management at any time. It’s especially important to think about distribution when you
‘re going after a new customer segment, releasing a new product, or looking for ways to
aggressively grow your business.

Evaluate how your end-users need to buy: -

Your distribution strategy should deliver the information and service your prospects need.
For each customer segment, consider:

• How and where they prefer to buy

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• Whether they need personalized education and training

• Whether they need additional products or services to be used along with yours

• Whether your product needs to be customized or installed

• Whether your product needs to be serviced

Match end-user needs to a distribution strategy: -

• If your end-users need a great deal of information and service, your company can
deliver it directly through a sales force. You can also build a channel of qualified
resellers or consultants. The size of the market and your price will probably dictate
which scenario is best.

• If the buying process is fairly straightforward, you can sell direct via a
website/catalogue or perhaps through a wholesale/retail structure. You may also
use an inbound telemarketing group or a field sales team.

• If you need complete control over your product ‘s delivery and service, adding a
channel probably isn ‘t right for you.

Identify natural partners: -

If you want to grow beyond the direct model, look for companies that have relationships
with your end-users. If consultants, wholesalers or retailers already reach your customer
base, they ‘re natural partners.

Build your distribution channel: -

If you ‘re setting up a distribution channel with one or more partners, treat it as a sales
process:

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• Approach the potential channel partner and ―sell‖ the value of the partnership.

• Establish goals, service requirements and reporting requirements.

• Deliver inventory (if necessary) and sales/support materials.

• Train the partner.

• Run promotions and programs to support the partner and help them increase sales.

Minimize pricing conflicts: -

If you use multiple channels, carefully map out the price for each step in your channel and
include a fair profit for each type of partner. Then compare the price that the end-user will
pay; if a customer can buy from one channel at a lower price than from another, your
partners will rightfully have concerns. Pricing conflict is common, and it can jeopardize
your entire strategy, so do your best to map out the price at each step and develop the best
solution possible.

Drive revenue through the channel: -

Service your channel partners as you ‘d service your best customers and work with them
to drive revenue. For example, provide them with marketing funds or materials to
promote your products; run campaigns to generate leads and forward them to your
partners

C. Technology Utilisation
The latest trend among forward-thinking wholesaler-distributors has been to embrace new
technology.

Why? The potential benefits these technologies deliver include everything from more
accurate sales to improved efficiency to increased profits.
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Here are three of today ‘s top technologies for wholesaler-distributors:

1. Automated order writing and submission solutions: Writing and then submitting a
paper order isn ‘t only time-consuming—it’s also prone to error since information is often
duplicated two, three or even four times.

Automating your order writing and submission process with a sales order management
solution can save you and your sales reps time and costly mistakes. A good program also
gives your sales reps the ability to load a digital catalogue to their mobile devices, store
customers ‘order histories and instantly sync customers ‘orders with your back office for
faster fulfilment.

2. An omnichannel strategy with multiple digital options: An omnichannel strategy

means thinking about your customer’s experience and interacting with each one of your
sales channels. Channels can include everything from your catalogue to your website to
any mobile app you might have.

Experts generally agree that having multiple purchase options is a good idea. Your
customers are used to having options when it comes to buying consumer goods, and they
want the same ease of use when it comes to their B2B shopping experience. This means
having several options, including a robust digital presence with responsive design that
adapts to tablets and smart phones in addition to traditional computers.

3. Stepped-up enterprise resource planning (ERP) software: Good ERP software will
help you manage your sales orders, finances, production, supply chains, customer
relationships and more. And with today ‘s technology, you can do even more.

Best-in-class ERP software has integrated business analytics, mobile access, e-commerce
integration and social collaboration capabilities. Each of these expanded features will help
make your business more agile, effective and modern.
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VII. Marketing Plan

A. Pricing
A price tag is a highly visual and objective guide to value

Pricing is the process whereby a business sets the price at which it will sell its products
and services, and may be part of the business's marketing plan. In setting prices, the
business will take into account the price at which it could acquire the goods, the
manufacturing cost, the market place, competition, market condition, brand, and quality
of product.

Pricing is a fundamental aspect of financial modelling and is one of the four Ps of the
marketing mix. (The other three aspects are product, promotion, and place.) Price is the
only revenue generating element amongst the four Ps, the rest being cost centres.
However, the other Ps of marketing will contribute to decreasing price elasticity and so
enable price increases to drive greater revenue and profit.

Pricing can be a manual or automatic process of applying prices to purchase and sales
orders, based on factors such as: a fixed amount, quantity break, promotion or sales
campaign, specific vendor quote, price prevailing on entry, shipment or invoice date,
combination of multiple orders or lines, and many others. Automated systems require
more setup and maintenance but may prevent pricing errors. The needs of the consumer
can be converted into demand only if the consumer has the willingness and capacity to
buy the product. Thus, pricing is the most important concept in the field of marketing; it is
used as a tactical decision in response to comparing market situations.

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Price is influenced by the type of distribution channel used, the type of promotions used,
and the quality of the product. Where manufacturing is expensive, distribution is
exclusive, and the product is supported by extensive advertising and promotional
campaigns, then prices are likely to be higher. Price can act as a substitute for product
quality, effective promotions, or an energetic selling effort by distributors in certain
markets.

Pricing strategies: -

Marketers develop an overall pricing strategy that is consistent with the organisation's
mission and values. This pricing strategy typically becomes part of the company's overall
long -term strategic plan. The strategy is designed to provide broad guidance to
pricesetters and ensures that the pricing strategy is consistent with other elements of the
marketing plan. While the actual price of goods or services may vary in response to
different conditions, the broad approach to pricing (i.e., the pricing strategy) remains a
constant for the planning outlook period which is typically 3–5 years, but in some
industries may be a longer period of 7–10 years.

Broadly, there are six approaches to pricing strategy mentioned in the marketing
literature:

Operations-oriented pricing: where the objective is to optimise productive capacity, to

achieve operational efficiencies or to match supply and demand through varying prices. In
some cases, prices might be set to de-market.

Revenue-oriented pricing: (also known as profit-oriented pricing or cost-based pricing) -

where the marketer seeks to maximise the profits (i.e., the surplus income over costs) or
simply to cover costs and break even. For example, dynamic pricing is a form of revenue
oriented pricing.

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Customer-oriented pricing: where the objective is to maximise the number of customers;

encourage cross-selling opportunities or to recognise different levels in the customer's
ability to pay.

Value-based pricing: (also known as image-based pricing) occurs where the company
uses prices to signal market value or associates price with the desired value position in the
mind of the buyer. The aim of value-based pricing is to reinforce the overall positioning
strategy e.g. Premium pricing posture to pursue or maintain a luxury image.

Relationship-oriented pricing: where the marketer sets prices in order to build or maintain
relationships with existing or potential customers.

Socially-oriented pricing: Where the objective is to encourage or discourage specific

social attitudes and behaviours. Example: high tariffs on tobacco to discourage smoking.

B. Distribution
Distribution (or place) is one of the four elements of the marketing mix. Distribution is the
process of making a product or service available for the consumer or business user that
needs it. This can be done directly by the producer or service provider, or using indirect
channels with distributors or intermediaries. The other three elements of the marketing
mix are product, pricing, and promotion.

Decisions about distribution need to be taken in line with a company's overall strategic
vision and mission. Developing a coherent distribution plan is a central component of
strategic planning. At the strategic level, there are three broad approaches to distribution,
namely mass, selective or exclusive distribution. The number and type of intermediaries
selected largely depends on the strategic approach. The overall distribution channel
should add value to the consumer.

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Distribution strategies:-

Distribution is fundamentally concerned with ensuring that products reach target

customers in the most direct and cost efficient manner. In the case of services, distribution
is principally concerned with access. Although distribution, as a concept, is relatively
simple, in practice distribution management may involve a diverse range of activities and
disciplines including: detailed logistics, transportation, warehousing, storage, inventory
management as well as channel management including selection of channel members and
rewarding distributors.

Prior to designing a distribution system, the planner needs to determine what the
distribution channel is to achieve in broad terms. The overall approach to distributing
products or services depends on a number of factors including the type of product;
especially perish ability; the market served; the geographic scope of operations and the
firm's overall mission and vision. The process of setting out a broad statement of the aims
and objectives of a distribution channel is a strategic level decision.

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In an intensive distribution approach, the marketer relies on chain stores to reach broad
markets in a cost efficient manner

Strategically, there are three approaches to distribution:

• Mass distribution

• Selective distribution
• Exclusive distribution

Intensive distribution: (also known as mass distribution) When products are destined for a
mass market, the marketer will seek out intermediaries that appeal to a broad market base.
For example, snack foods and drinks are sold via a wide variety of outlets including

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supermarkets, convenience stores, vending machines, cafeterias and others. The choice of
distribution outlet is skewed towards those than can deliver mass markets in a cost
efficient manner.

Selective distribution: A manufacturer may choose to restrict the number of outlets

handling a product. For example, a manufacturer of premium electrical goods may choose
to deal with department stores and independent outlets that can provide added value
service level required to support the product. Dr Scholl orthopaedic sandals, for example,
only sell their product through pharmacies because this type of intermediary supports the
desired therapeutic positioning of the product. Some of the prestige brands of cosmetics
and skincare, such as Estee Lauder, Jurlique and Clinique, insist that sales staffs are
trained to use the product range. The manufacturer will only allow trained clinicians to
sell their products.

Exclusive distribution: In an exclusive distribution approach, a manufacturer chooses to

deal with one intermediary or one type of intermediary. The advantage of an exclusive
approach is that the manufacturer retains greater control over the distribution process. In
exclusive arrangements, the distributor is expected to work closely with the manufacturer
and add value to the product through service level, after sales care or client support
services. The most common type of exclusive arrangement and agreement between a
supplier and a retailer granting the retailer exclusive rights within a specific geographic
area to carry the supplier's product.

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Summary of strategic approaches to distribution

Approach Definition

Intensive The producer's products are stocked in the majority of

distribution outlets. This strategy is common for mass produced
products such as basic supplies, snack foods,
magazines and soft drink beverages.

Selective The producer relies on a few intermediaries to carry their

distribution product. This strategy is commonly observed for more
specialised goods that are carried through specialist
dealers, for example, brands of craft tools, or large
appliances.

Exclusive The producer selects only very few intermediaries.

distribution Exclusive distribution occurs where the seller agrees to
allow a single retailer the right to sell the manufacturer's
products. This strategy is typical of luxury goods
retailers such as Gucci.

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C. Promotion
In marketing, promotion refers to any type of marketing communication used to inform or
persuade target audiences of the relative merits of a product, service, brand or issue. The
aim of promotion is to increase awareness, create interest, generate sales or create brand
loyalty. It is one of the basic elements of the market mix, which includes the four P‘s:
price, product, promotion, and place.

Promotion is also one of the elements in the promotional mix or promotional mix or
promotional plan. These are personal selling, advertising, sales promotion, and direct
marketing publicity and may also include event marketing, exhibitions and trade shows
promotional plan specifies how much attention to pay to each of the elements in the
promotional mix, and what proportion of the budget should be allocated to each element.

Promotion covers the methods of communication that a marketer uses to provide

information about its product. Information can be both verbal and visual.

The term, "promotion' derives from the Old French, promcion meaning to "move
forward", "push onward" or to "advance in rank or position" which in turn, comes from
the Latin, promotionem meaning "a moving forward". The word entered the English
language in the 14th century. The use of the term promotion to refer to "advertising or
publicity" is very modern and is first recorded in 1925. It may be a contraction of a
related term, sales promotion, which is one element in the larger set of tools used in
marketing communications. The terms, promotion and marketing communications can be
used synonymously, but in practice, the latter is more widely used.

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Purpose:-

There are three objectives of promotion. These are:

1. to present information to consumers and others.

2. To increase demand.
3. To differentiate a product.

The purpose of a promotion and thus its promotional plan can have a wide range,
including: sales increases, new product acceptance, creation of brand equity, positioning,
competitive retaliations, or creation of a corporate image.

The term 'promotion' tends to be used internally by the marketing function. To the public
or the market, phrases like "special offer" are more common. Examples of a fully
integrated, long-term, and large-scale promotion are My Coke Rewards in the USA or
Coke Zone in the UK and Pepsi Stuff.

D. Product Forecast
The definition of a new product can vary. It may be an entirely new product has been
launched, a variation of an existing product (―new and improved‖), a change in the
pricing scheme of an existing product, or even an existing product entering a new market.

Judgmental forecasting is usually the only available method for new product forecasting
as historical data are unavailable. The approaches we have already outlined (Delphi,
forecasting by analogy and scenario forecasting) are all applicable when forecasting the
demand of a new product.

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Other methods more specific to the situation are also available. We briefly describe three
such methods that are commonly applied in practice. These methods are less structured
than those already discussed, and are likely to lead to more biased forecasts as a result.

Sales force composite:-

In this approach, forecasts for each outlet/branch/store of a company are generated by

salespeople and are then aggregated. This usually involves sales managers forecasting
demand for the outlet they manage. Salespeople are usually closest to the interaction
between customers and products, and often develop an intuition about customer
purchasing intentions. They bring to the forecast this valuable experience and expertise.

However having salespeople generate forecasts violates the key principle of segregating
forecasters and users which can create biases in many directions. It is very common that
the performance of a salesperson is evaluated against sales forecasts or expectations set
beforehand. On the other hand we can think of the very enthusiastic salesperson full of
optimism generating high forecasts.

Moreover a successful salesperson does not equate to a successful or a well informed

forecaster. A large proportion of salespeople will have no or very limited formal training
in forecasting. Finally salespeople will feel customer displeasure at first hand if, for
example, the product runs out or is not introduced in their store. Such interactions will
cloud judgement.

Executive opinion:-

In contrast to the sales force composite, this approach involves staff at the top of the
managerial structure generating aggregate forecasts. Forecasts are usually generated in a
group meeting where executives contribute information from their own area of the

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company. Having executives from different functional areas of the company promotes
great skill and knowledge diversity in the group.

This process carries all the advantages and disadvantages of a group meeting setting we
have discussed earlier. It is important in this setting to justify and document the
forecasting process. That is, executives need to be held accountable in order to reduce
biases generated by the group meeting setting. There may also be scope to apply
variations to a Delphi approach in this setting; for example, the estimate-talk-estimate
process described earlier.

E. Controls
Marketing controls are a series of measurements used to determine whether a marketing
plan is meeting, or has met, its stated goals and objectives. The fact that the control phase
is often the final item in a list of essential marketing plan elements downplays its
importance.

On the list, control points and a variety of control calculations are often set at regular
intervals throughout implementation as a proactive, precautionary measure. These allow
the marketing team to modify action steps within a marketing plan whenever it‘s
necessary to ensure the plan continues to meet marketing objectives.

Control Phase Levels:-

The control phase of a marketing plan includes three distinct levels of control. The first
level includes strategic controls that determine the overall effectiveness of a marketing
plan in terms of markets, products and channels. The second level includes operational
controls that assess whether positive results are being achieved. The third level includes
profit and efficiency controls that determine whether the business is making or losing

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money and whether funds allotted to the marketing plan are being spent in the most
efficient way.

Many control mechanisms are quantitative in nature, assessing performance and cost
effectiveness according to hard facts and mathematical calculations. Examples include
sales analysis, market share analysis and assessments that compare marketing expenses to
sales ratios. Just as important, however, are qualitative controls such as a suggestion box,
customer surveys or an in-house customer panel. These control techniques provide ways
to evaluate how customers feel not only about the business‘s products and services, but
about the business as a whole.

Performance Benchmark Standards:-

Marketing plan controls include performance benchmark standards that relate to

marketing plan objectives. Performance benchmarks can only provide value, however, if
marketing plan objectives are clear, well-written and well-defined. For example, it would
be difficult to set an accurate benchmark standard for direct mail response rates if the
marketing plan objective states only that the plan should improve response rates. An
objective that aims to improve response rates by 25 percent, however, sets the stage for
creating an effective performance standard.

Control Phase Timing: -

The conclusion of a marketing plan or campaign is a poor time to discover the plan or
campaign was not as successful as it could ‘ve been or was not cost effective. Monthly
and quarterly evaluations throughout the implementation phase can help the marketing
team identify red flags requiring further investigation or immediate action and monitor
trends as they develop. The objective is to find out what is happening and why it‘s

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happening and then decide what corrective actions are necessary -- up to and including
implementing a contingency plan -- to eliminate marketing plan issues.

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VIII. Organizational Plan

A. Form of ownership
There are basically three types or forms of business ownership structures for new small
businesses:

1. Sole Proprietorship: A business owned and operated by a single individual — and

the most common form of business structure in the U.S. The advantages with a sole
proprietorship include ease and cost of formation — simply announcing you are in
business and requesting any licenses and permits you may need; use of profits — since all
profits from the business belong exclusively to you, the owner; flexibility and control —
you make all the decisions and direct the entire business operations; very little
government regulations; secrecy; and ease of ending the business. There are
disadvantages, however, including unlimited liability — all business debts are personal
debts, meaning you could lose everything you own if the business fails or loses a major
lawsuit; limited sources of financing — based on your creditworthiness; limited skills —
the sole proprietor really must be a ―jack-of-all-trades, ‖ part manager, marketer,
accountant, etc.; and limited lifespan — the business ends when the owner dies.

2. Partnership: A business that is owned and operated by two or more people — and
the least used form of business organization in the U.S. There are two basics forms of
partnerships, general and limited. In a general partnership, all partners have unlimited
liability, while in a limited partnership, at least one partner has liability limited only to his
or her investment while at least one other partner has full liability. Most states require a
legal document called the ―Articles of Partnership‖ that delineates details about each
partner ‘s investment and role in the new company. The advantages of a partnership
include ease of organization — simply creating the articles of partnership; combined

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knowledge and skills — using the strengths of each partner for better business decision-
making; greater availability of financing; and very little government regulations. There
are disadvantages, however, including unlimited liability — all business debts are
personal debts; reconciling partner disagreements and action — each partner is
responsible for the actions of all the others; sharing of profits — all money earned has to
be shared and distributed to the partners per the articles of partnership; and limited
lifespan — the partnership ends when a partner dies or withdraws.

3. Private Corporation: A business that is a legal entity created by the state whose
assets and liabilities are separate from its owners. While there are also public corporations
— who stock (and ownership) are traded on a public stock exchange — most small
businesses are (or at least start as) private corporations. A private corporation is owned by
a small group of people who are typically involved in managing the business. Forming a
corporation requires developing a legal document called the ―Articles of Incorporation‖
and submitting them to the state in which the corporation wishes to reside. Advantages of
a corporation include limited liability — an owner (stockholder) can only lose up to the
amount s/he invested; unlimited lifespan — a corporation is charted to last forever unless
its articles of incorporation state otherwise; great sources of funding; and ease of transfer
of ownership. Disadvantages include double taxation — the corporation, as a legal entity,
must pay taxes, and then shareholders also pay taxes on any dividends received.

Two other types of ownership of interest to entrepreneurs include:

• S Corporation: A form of ownership that is the best of both partnerships and

corporations. Owners have limited liability, greater credibility (for obtaining financing),
and no double taxation as all profits pass directly to the owners and the corporation pays
no taxes. There are, however, restrictions on the number and type of shareholders.

• Limited Liability Company (LLC): A form of ownership growing in popularity in the

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U.S. that provides limited liability and is taxed as a partnership or sole proprietorship
(depending on the number of members). This type of business formation — formed by
submitting articles of organization to the state in which the company resides — is
growing rapidly because it is flexible, simple to run, and does not require all the
paperwork of corporations.

B. Identification of partners or principal shareholders

As our personal business of partnership business and the board of directors are the owner
of it. The net profit will be distributed among them equally. So for the assets, liabilities,
the shareholders will be equally responsible.

C. Roles and responsibilities of members of organization

Many companies encourage a team environment. Team member ‘s helps each other
succeed to accomplish the company's goals and provide their expertise on different
projects and duties. Each team has specific roles and are typically structured in a
functional way. Companies create structural charts that clearly define the types of roles
within departments. In a functional structure, it's designed by hierarchy, which is when
the roles of each group are ranked one above another based on responsibility. Most
organizations consist of the following roles:

• Executive officers

• Research and development team

• Operations and production team

• Sales and marketing team

• Accounting and finance team

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Now that we know about the different teams that make up an organization, let's learn
more about their specific responsibilities and characteristics.

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The company assigns responsibilities that each team must accomplish in order to keep the
company running and to produce profits. Let's take a look at what these are.

Executive officers are responsible for keeping the ship afloat. They work with all of the
teams to create synergy and hold them accountable.

The research and development team has the responsibility of being innovative and
keeping up with the latest trends and developments in whatever field the company is in.
For example, tech companies like Apple have to stay innovative and creative for
customers to care about their products. Their R&D team is responsible for researching the
market and developing new technologies to stay ahead of their competition which
explains the constant cell phone battle they have with Android phones makers.

The operations and production team is responsible for bringing the product to life. They
receive the product's vision from the research team and then bring the product into its
finished stage.

The sales and marketing team is responsible for bringing the product to market. They use
several different methods to get the word out about their new invention. They usually do
this through advertisements on TV, Internet, radio, and even printed mail to promote the
product.

The accounting and finance team is the group that calculates the sales and reports back to
everyone in regards to numbers. They bring everything full circle because the sales
numbers this will trigger whether or not new developments or improvements need to be
made, production needs to increase or decrease, or if sales and marketing teams need to
refocus their direction.

Chief Executive Officer

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 Responsible for the overall strategic direction of Navin Electronics.

 Communicates and ensures the implementation of the vision and objectives of the
organization to employees
Manager

 Ensures that the electronics come in intact without damage.

 Carries out an inspection on every batch that comes in.

Human Resources and Admin Manager

 Sources for competent employees on behalf of the company, and ensures that
they are properly inducted.
 Ensures that the administrative function of the company runs smoothly.
 Responsible for employee welfare.

Accountants
 Prepares all financial statement and information on behalf of the store.
 Ensures that the store’s book is balanced monthly against that of the bank.

Marketing Team
 Conducts more research on behalf of the company in order to find ways to retain
customers as well as attract new ones.
 Drafts marketing strategies on behalf of the company.
 Hands out handbills and pastes fliers in strategic locations.

Customer Service Executives

 Interacts with customers via phone and online by answering enquiries, taking orders
and feedbacks, and resolving complaints.
 Stays abreast of industry trends as well as organizational policies in order to
pass on accurate information to the customers.
 Keeps an accurate customer database on behalf of the store.

Sales Team

 In charge of retailing the electronics both inside and outside the shop.
 Helps to increase sales on behalf of the store

Cleaners
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 Ensures that the premises are kept clean.

 Keeps the convenience clean for both staff and clients.
 Carries out any other duty as might be determined by the human resources manager

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IX. Assessment of risk

The determination of quantitative or qualitative estimate of risk related to a well-defined
situation and a recognized threat (also called hazard). Quantitative risk assessment
requires calculations of two components of risk (R): the magnitude of the potential loss
(L), and the probability (p) that the loss will occur. An acceptable risk is a risk that is
understood and tolerated usually because the cost or difficulty of implementing an
effective countermeasure for the associated vulnerability exceeds the expectation of loss.

Evaluate your strengths, weaknesses, opportunities and threats

SWOT analysis is an exercise meant to identify your strengths, weaknesses, opportunities

and threats - hence the acronym ―SWOT‖.

Taking a critical look at internal and external factors that impact your business arms you
with knowledge that can help you plan, manage or grow your business. It can help you
meet challenges or take advantage of business opportunities.

Identify your strengths and weaknesses

An internal analysis is meant to determine where you have an advantage over your
competitors, and where you are not as strong.

• Identify success factors for your industry or market segment.

• Assess your competitors' competencies with respect to these factors.

• Compare them to your own strengths and weaknesses to determine where you may
have a competitive advantage.

The success factors can vary depending on your industry. They include comparing your
abilities to your competitors for factors such as:
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• Marketing: market share, reputation for quality and service, distribution costs,
geographical coverage, promotion and sales force effectiveness.

• Finances: Availability of capital, profitability, financial stability.

• Organization: Employee dedication, flexibility and responsiveness.

You will find some comparative industry standards through our Managing and growing
section. Since it can be difficult to be objective when evaluating your own strengths and
weaknesses, soliciting the views of your employees, customers and suppliers can help.

Identify opportunities and threats

An external analysis takes a closer look at the industry and markets where you do
business by identifying opportunities and threats. You will want to find out:

• Which opportunities could increase your profitability? Examples could include:

• Increased demand for your goods or services

• Access to new markets

• Higher profit margins

• Stable price structure

• Low risk

• What threats can affect your profitability?

• Obsolete products or services

• Shrinking market

• Existing or new competition

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• Upcoming regulatory changes

• Environmental factors
Takeovers or mergers

Done well, a SWOT analysis can provide a good scan of your business environment. It can
help identify opportunities you may have overlooked and prepare you to meet challenges.
A SWOT analysis should not be depended upon solely, but used in conjunction with your
arsenal of planning and management tools.

A. Evaluate weakness of business

It is important that the entrepreneur makes an assessment of risk in the following manner.

First; the entrepreneur should indicate the potential risk to the new venture.

Next should be a discussion of what might happen if this risk becomes reality.

Finally, the entrepreneur should discuss the strategy that will be employed to prevent,
minimize or respond to the risk that occurs. Major risk for a new venture could result
from a competitor‘s reaction; weakness in the marketing, production or management
team, advance technology that might render the new product obsolete.

RISK OF HIGHER VOLATILITY

• Volatility refers to the dynamic changes in price that a security/derivatives contract

undergoes when trading activity continues on the Stock Exchanges. Generally, higher the•
volatility of a security/derivatives contract, greater is its price swings. There may be
normally greater volatility in thinly traded securities / derivatives contracts than in active
securities /derivatives contracts. As a result of volatility, your order may only be partially
executed or not executed at all, or the price at which your order got executed may be

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substantially different from the last traded price or change substantially thereafter,
resulting in notional or real losses

RISK OF WIDER SPREADS

Spread refers to the difference in best buy price and best sell price. It represents the
differential between-the price of buying a security / derivatives contract and immediately
selling it or vice versa. Lower liquidity and higher volatility may result in wider than
normal spread for less liquid or illiquid securities / derivatives contract. This in turn will
hamper better price information.

RISK-REDUCING ORDERS

• The placing of orders (e.g., ―stop loss‖ orders, or ―limit‖ orders) which are
intended to limit losses to certain amounts may not be effective many a time because
rapid movement in market conditions may make it impossible to execute such orders.

• ―market‖ order will be executed promptly, subject to availability of orders on

opposite side, without regard ‗to price and that, while the customer may receive a prompt
execution of a ―market‖ order, the execution may be at available prices of outstanding
orders, which satisfy the order quantity, on price time priority. It may be understood that
these prices may be significantly different from the last traded price or the best price in
that security / derivatives contract.

• ―Limit‖ order will be executed only at the ―limit‖ price specified for the order or
a better price. However, while the customer receives price protection, there is a possibility
that the order may not be executed at all.

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• A stop loss order is generally placed ―away‖ from the current price of a stock /
derivatives contract, and such order gets activated if and when the security / derivatives
contract reaches, or trades through,

• The stop price. Sell stop orders are entered ordinarily below the current price, and
buy stop orders are entered ordinarily above the current price. When the security /
derivatives contract reaches the pre -determined price, or trades through such price, the
stop loss order converts to a market/limit order and is executed at the limit or better.

RISK OF NEWS ANNOUNCEMENT

• News announcements that may impact the price of stock / derivatives contract may
occur during trading, and when combined with lower liquidity and higher volatility, may
suddenly cause an unexpected positive or negative movement in the price of the security /
contract.

RISK OF RUMOURS

• Rumours about companies / currencies at times float in the market through word of
mouth, newspapers, websites or news agencies, etc. The investors should be wary of and
should desist from acting on rumours

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B. New technologies

There are many year-end rituals, including time with the family, shopping online for sales,
and making last-minute tax moves. As we settle into a new year, there are annual rituals
too—and one of those rituals for business leaders is looking ahead and assessing the
trends for the coming year.

If one of your rituals for the New Year is looking forward, here are five business
technology trends you should consider as you make your adjustments.

1. Interactive broadcasting looms large

Many people have heard about live streaming, also known as interactive broadcasting;
services such as Face book Live and Twitter‘s Periscope have popularized the technology.
What many people don‘t realize is that interactive broadcasting is set to explode.

―We‘re at that moment right before it takes off, and 2017 looks to be the tipping point,‖
says Tony Zhao, founder of a real-time communications firm Agora.io, which gives
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businesses the ability to seamlessly embed HD live-streaming video and interactive

broadcasting into their app or website.

This explosion already has happened in China. Roughly 46 percent of China‘s internet
population used an interactive broadcasting app in June, according to China Daily. Credit
Suisse projects the market for interactive broadcasting in China will reach $5 billion by
2017, only a couple billion shy of the total market for movies in China.

2. Big data for all

Currently ―big data‖ seems more of a buzz-phrase than a business tool for most firms.
This could change in 2017 as cloud services make data easier to harness.

You no longer need to use complicated and overbearing software created for big
businesses, like Hadoop, to use big data now. Services such as insight squared enable
businesses to mine insight from popular business tools already in use, including quick
books, Google Analytics, Zen desk, and others. Other cloud services, such as Canopy
Labs (which is free for up to 5,000 customers), deliver big data analytics for customer
service as a price point that many businesses can afford.

While big data has been a trend for several years now, what sets 2017 apart is that this
year, businesses will actually be using it.

3. IOT helps with customer service

Another trend that‘s been making waves for years but will gain significant traction in
2017 is the Internet-of-Things (IOT). Hailed as the biggest thing since the internet, IOT is
not a new trend. What‘s new is that it will increasingly be applied to customer service as a
way to differentiate businesses in a competitive environment where good customer
experience is important.

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One example of IOT applied to customer service is the connected car. With cheap sensors
and easy cellular connectivity, car makers and now proactively monitor almost every facet
of the driving experience, such as lights, tire pressure, handling, and so on. By taking this
IOT data and combining it with notifications, car manufacturers and allied firms can help
drivers know about upcoming maintenance needs, cheap gas on their ride home,
upcoming repair needs, and tips for improving gas mileage, among other things.

All this leads up to a better customer experience for drivers, and this sort of IOT use
applied to other industries can have similar customer experience benefits.

4. Augmented reality arrives—finally

While virtual reality might be stuck in the hype stage, despite the efforts of Google, Face
book, HTC, Samsung, and others, the outlook for augmented reality looks better in 2017.

The potential of augmented reality was shown last year with the Pokémon Go craze, and
the technology is far easier to adopt because there‘s no new hardware to buy (just use
your smart phone—and we all have smart phones). Goldman Sachs estimates the
augmented reality market will reach $80 billion market in 2025, and 2017 could be a
watershed year for the technology.

Today, nearly 67 percent of businesses are considering augmented reality use in their
enterprise, according to Tech Pro Research, and about 20 percent of businesses expect to
use augmented reality starting in 2017.

5. Remote workers become more common

Start-ups and digital nomads have shown that having a remote team works; you don ‘t
need to micromanage your employees and force them to work the same hours in the same

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room. Telecommuting full-time works, and in 2017 more companies will take advantage
of this change in workforce opportunities.

With the rise of collaboration platforms such as Slack and video chat platforms like Skype
for Business, and growing social acceptance and best practices for remote workers,
businesses now can hire the best workers even if they don ‘t live locally. Businesses also
can better tempt millennial workers, who are particularly interested in remote and flexible
work schedules. ―From an employer ‘s perspective, generally speaking, it makes for a
happier employee and a happier employee is generally more productive, ‖ says Robert
Palmer, spokesman for the telecommuter-friendly firm west jet, in the Huffington Post
last year.

C. Contingency plans
The plan may also include standing policies to mitigate a disaster's potential impact, such
as requiring employees to travel separately or limiting the number of employees on any
one aircraft.

During times of crisis, contingency plans are often developed to explore and prepare for
any eventuality. During the Cold War, many governments made contingency plans to
protect themselves and their citizens from nuclear attack. Examples of contingency plans
designed to inform citizens of how to survive a nuclear attack are the booklets Survival
under Atomic Attack, Protect and Survive, and Fallout Protection, which were issued by
the British and American governments. Today there are still contingency plans in place to
deal with terrorist attacks or other catastrophes.

A contingency plan is a plan devised for an outcome other than in the usual (expected)
plan.

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It is often used for risk management when an exceptional risk that, though unlikely, would
have catastrophic consequences. Contingency plans are often devised by governments or
businesses. For example, suppose many employees of a company are travelling together
on an aircraft which crashes, killing all aboard. The company could be severely strained or
even ruined by such a loss. Accordingly, many companies have procedures to follow in
the event of such a disaster.

X. Financial Plan

Projections of key financial data determine economic feasibility and necessary financial
investment commitment.

Generally, three financial areas are discussed in this section of business plan. First, the
entrepreneur should summarize the forecasted sales and appropriate expenses for at least
the first three years, with the first year projection provided monthly. It includes the
forecasted sales, cost of goods sold and the general and administrative expenses.Net profit
after tax can be called projected by estimating income taxes.

The second major area of financial information needed is cash flow for three years, with
the first year projections provided monthly. Remember that sales may be spread out, thus
necessity the borrowing of short term capital to meet fixed expenses such as salaries and
utilities

The last financial item is the projected balance sheet. This shows the financial condition
of the business at a specific time. It summarizes the assets of a business, its liabilities, the
investment of entrepreneurs and any partners, and retained earnings [or cumulative losses]

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XI. Annexure/ Appendix

Address of the visited site G- 4, Shivalik Western,

Besides Bank of Baroda,

Nr. TGB, L.P. Savani Road,

Adajan, Surat

No. Of Floors Occupied One

Size of premises 4000 sq. feet(approx.)

No. of employees at the location 50

Child labour at the site No

Locality Semi-residential

Location Area Urban

Site location Main road

Administrative and sales office &

Site used as showroom

Site layout Spacious and well organised

Power: Stable

Backup power: Available

State of infrastructure Water: Available

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Labour Unions: exist

Transportation: Easily available

Overall Infrastructure: Satisfactory

Front porch

Backyard

Space around the building Side space

Building Structure
Permanent Structure
Ownership of premises Permanent

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