In this business proposal, I will discuss an organization by the name, of International Marketing Consultancy Company. The importance of choosing this type of business is that many organizations are facing problems in marketing their goods; hence this type of organization will come in handy. This organization will focus mainly on companies that deal in the production of goods and service rendering.
It is important to note that such companies face various difficulties, for instance where they want to introduce new products in the market, these difficulties force them to consider professional guidance on the same. The choice of this market range is crucial because; in every business one ventures in, ambition and targets are a must; therefore thinking of international marketing is most appropriate.
This business is viable because the customers being targeted are all long-term; this is justified by taking into consideration that no organization can conduct its activities without advertising or marketing. Taking an example of a company like Coca-Cola, they usually put aside millions of dollars in their budgets to fund their marking strategies (Gove, 34).
This is a private corporation, therefore denoting that the company will have its own charter and privileges; moreover, it is a limited liability company (Gove, 11). This signifies that in case the company fails or ends up making losses, the shareholders and the employees are not liable to any debts or liabilities that the company may have accrued in the cause of business. This corporation is also a non-stock company hence signifying that there will be no stakeholders, but individual members will have the right to vote for any decisions being made in the company.
This organization will consist of the following employees in the management team;
- The company chairman
- The Chief Executive Director
- Board members
The above employees will be required to have high moral values, be team players and should have a quality education background. For instance, the chairman of the organization should have a minimum of master’s degree in Business Management or Economics, and as for the executive director, he/she should also have similar qualifications or higher. These employees are supposed to have worked with other companies at similar positions. With such qualifications and competence the organization will be in proper hands and should thrive well in business. The management team is supposed to be of high integrity so as to be good role models to the other junior employees.
The rest of the employees in the company will be required to have a proper qualification which suits their posts, their skills and experiences will also be vetted. This will be done by outsourcing from other companies which are in the same business. With such an organization, the employees are assured of a good compensation in terms of salaries and a health insurance which extends to their immediate families. This project will first employ a few employees, upon organizations’ expansion there will be further recruitment for the same. It is not only the health insurance that the employees will be provided with but also insurance will be offered to employees who may be injured in the course of duty.
Employees are an asset in every organization and they should be treated well in order to boost their morale, which makes them enthusiastic while doing their jobs in the company (Graeme, 23). Without such goodies the employees may sabotage the performance of the projects.
The projected budget for these employees’ salaries and other expenses add up to $45,000 for the first financial year. This expense has summed up to this value since there will be ten junior employees plus seven board members inclusive of the company’s chairman and the executive director. The total number of employees for start up will be seventeen.
Finance and Accounting
In every organization finances and books of accounts should be handled with professionalism, it is also important to consider bringing on board computerized book keeping system. There are generally many methods of doing this but double entry book keeping and single entry book keeping are considered the best methods (Warren, 45).
A computerized method of book keeping makes the accountants’ work easier while checking the financial records and also minimizes the workload. Due to the current developments in technology, it is vital to use online book keeping and this will minimize the cost of doing business and even the cost of implementing projects (Warren, 55).This organization will use the most refined methods of book keeping, so as to counter embezzlement of funds in the company, hence wining the customers’ confidence.
A budget is a futuristic plan of how the business will use its expenditure for a specific time or period (Hicks, 45). It is prudent for any entrepreneur to consider experts’ input while coming up with a budget. Budgets usually include the expenditure of employees and other costs incurred in doing business. It is usually detrimental when one writes a wrong budget and in the middle of the financial period comes back to seek more money to finance the projects (Hicks, 55). This organization will also include its fixed assets into the budget so as to be in the plan for capital improvement.
The budget of this investment will be financed by savings, borrowing from friends and funding from banks through loans. This organization is estimated to cost around one hundred and fifty thousand dollars ($150,000).This amount may sound big, but with determination it is attainable.
This is a method used to asses the financial value of a business or project; such estimates are used to determine the prices to be charged on services rendered or goods being sold (Hicks, 87). This organization will definitely put into consideration such ways of cost valuation. Project or business evaluation depends mainly on economic situations and the industrial market. Before any evaluations are done it is very imperative to take into consideration of these factors otherwise wrong estimates may be done which might be very injurious to the organization. After evaluation is done financial analysis follows, where an economical analyses of the business’ progress is done. Financial evaluation for this organization will be done annually, for this particular business. The cost of these financial evaluations are as follows; first quarter of the financial year $4, 000, seccond quarter $3, 500, third quarter $4,500 and the final quarter $1, 000, hence adding up to $12, 000 in a year.
Whenever companies venture into business they take other issues so importantly, that they forget to consider advertisement which is a key player in business. Advertising plays a very vital role in keeping companies’ afloat in markets, since it acts as an informative machine on behave of the company, which relays information to the consumers. Advertising does not only relay information but also acts as a persuasive way of altering consumers mind on certain products or services. Advertisements come through the media or use of famous personalities, other than these two avenues of advertising there are other methods too, and they are as follows; in store advertising, sales promotions, covert advertising, and use of billboards (Hicks, 15).
Companies usually engage the services of advertising agencies to perform this essential task since they are professionally managed (Warren, 105). Even though this business is about marketing, advertising should not be ignored. This means that in the organizations budget advertisement cost should be catered for. Advertisement plays the most significant role in case the business is new in market.
In conclusion this project is viable because of the vast market it commands regionally and globally; furthermore the budget put up for this organization is not that large signifying that the money can easily be raised to fund this proposal. It is also important to note that the numbers of employees who will be brought on board to start on this proposal are few, thus making them easily manageable. With such a number of employees the organization will work efficiently. Efficiency has not only been brought by the number of employees but also the quality and expertise they posses.
Marketing projects are encountered by massive competitions in the world and this company is not special and it will also face the same, but proper strategies have been put in place to counter these competitors.
Gove, Patrck.2006. The Multinational Challenge to Corporation Law: Massachusetts, Merriam Company Press.
Graeme, George. 2003. The Impact of Limited Liability on Ownership and Control: Irish Banking. London, Belfast Queen’s University Press.
Hicks, Angels. 2008. Cases and Materials on Company Law. Oxford, Oxford University Press
Warren, Rick. 2008 Financial & Managerial Accounting: Oxford, McGraw-Hill Institute Press.