Seizing the Initiative Through Creative Thinking Versus Reacting to the Enemy local copyby Grothe, SAMS paper, Leadership must be committed to learning, underwrite experimentation, and create an environment that generates creative thought and innovation.
Because we intend to run a standard ice block making machine business, we have hired the services of a reputable business consultant here in Egbeda — Lagos, who not only understands the kind of business we are going into but also the area which we intend operating from to look critically at our business and help us determine how we are likely to make it here.
The business consultant will be making use of four attributes — strengths, weaknesses, opportunities, and threats — in order to determine how likely our ice block making will succeed and compete favorably against its competitors. Also, we are offering various services in addition to our core service, which makes us to stand out from our competitors who are not offering half of what we are.
We also have in our employ dedicated and committed staffs that have the experience are attuned to our corporate goals and objectives and are willing to work hard to ensure that we attain our corporate goals and objectives.
Also, our excellent customer culture is already giving us a high ranking as we have a high retention of our clients compared to that of our competitors. Weaknesses Our weakness stem from the fact that we are relatively new in the business and as such might not have the required finance and staff capability to be able to get as much customers as we like or be able to compete favorably against our neighbors.
Opportunities Egbeda is such a huge place in Lagos and so affords us enough opportunities especially as more people are yet to be aware of our core service as well as the additional services such as repair and maintenance of ice block making machines and cooling van services that we offer.
The high population figure here in Egbeda affords us the huge opportunities we will need to grow and expand our business. Threats Like every other business, we face certain threats to our business as well.
One major threat that we will face is the arrival of a major competitor in the same location where we are operating from and offering the same services that we will be offering our customers. Another threat is a major economic downturn that will cause low patronage from all our customers and lead to low revenue.
Also, we are likely to face threats from those who are not in our line of business but who have large refrigerators and can put on their generating sets in order to gain a few customers from our target market.
MaRS is a member of MaRS Discovery District, ©November See Terms and Conditions Fundamentals of Entrepreneurial Management Workbook 2 Business Model Design . Quotes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention, and a need to allocate that attention efficiently among the overabundance of information sources that might consume it. CREATE A BUSINESS PLAN. You will need a business plan for your concrete block making business. A concrete block making business plan will help you to rightly plan ahead of the future. It will also serve as a compass to guide your business to the right direction.
Also, if the power problem improves and remains steady, we would see a drop in patronage for our services. As a business we are used to any threats that might crop up and are fully ready to combat any threat that our business is likely to face with strategies of our own.
Most of these vendors who are everywhere buy these ice blocks and cool these drinks for their various customers. This means that the more people are out of their homes, the more they are likely to buy chilled water or drinks outside their homes and the more ice blocks are likely to be sold.
Asides from vendors, other people who also use ice blocks are caterers and those hosting an event that would then need to chill the drinks so that the various invited guests will have something cool and refreshing. Ice blocks offer these people a convenient way at cooling their drinks instead of using a fridge or refrigerator that would hardly serve the purpose.
Our Target Market Even though we are located at a very strategic location here in Egbeda — Lagos, we still had to conduct a market research on who our customers are likely to be and how best we would draft the strategies that will allow us gain a huge share of the target market.
The market research allowed us to understand the characteristics of our target market and also know what they would be expecting from us.
Therefore, the following are those that we will be offering our services to and they are; pure water vendors, soft drink vendors, caterers, households, event hosts, ice block vendors and market traders meat and fish traders. They are those we will concentrate in marketing our services to. Our Competitive Advantage Our aim of starting an ice block making business is to be able to fill in the gap caused by the lack of electricity supply and ensure that those who require cool drinks are able to get one in order to stay hydrated and also able to feel refreshed especially when they are out and about under the heat of the sun.
However, in conducting our market survey, we have found that we are not the only ice block making business here in Egbeda — Lagos, which means we are likely to face stiff competition in offering our services to the target market.
The feasibility study we conducted allowed us to thoroughly assess our competitors and understand their strengths and weaknesses. Knowing their attributes also allowed us to be able to come up with certain competitive strategies that will be of huge advantage to us and allow us not only attract but retain a huge part o our customers.
The first competitive advantage we have is that we are offering more services than the average ice block making business. This means customers are more likely to patronize us because they know they will get more from us than they would from our competitors.
Also, we understand the value of our customers, which is why we are customer-centric and offer our customers the best care as compared to our competitors. We offer our customers incentives from time to time and also ensure that loyal customers get something from us especially when they refer others to us.
Finally, we employed dedicated and committed staffs that understand how best to run a business such as ours and how we can achieve our goals and objectives as a company. Our employees will be well taken care of as their welfare package will be amongst the best across similar start-ups such as ours in the industry.
This will ensure that they put in their best and increase productivity for our business. It is to this effect that we have created a marketing budget to be able to cater to all the efforts that it will take to bring in more customers to our company. We intend also to ensure that we draft marketing and sales strategy that will allow us to penetrate the target market and gain a huge share of customers to our business.
Building a loyal database of customers takes time and we are fully prepared to do so in less time that it will normally take as we intend to deploy conventional and unconventional means in getting the customers we would need for our business.
Asides our core service, we would be offering complementary services as well which are cooling services and maintenance and repairs of ice block machines or assistance in procuring new machines for our customers.Goat Farming Business Plan In Nigeria Feasibility Studies PDF.
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hole brick and hollow block brick making unit/5(35). A concrete block making business plan will help you to rightly plan ahead of the future. It will also serve as a compass to guide your business to the right direction. It will also serve as a compass to guide your business to the right direction.
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