hllo chegg team, this is a business management subject. i humbly request you pls
ID: 352437 • Letter: H
Question
hllo chegg team, this is a business management subject. i humbly request you pls send me this question properly and be careful about plagerism.
describe the establishment of new business that will employ at least 10 people and develop a supporting management strategy and describe its location, what the facility looks like, nature of product and number of staff etc.limit this portion of the report to a maximum of 2-3 pages. apart from this also develop a code of ethics and swot analysis for the operation and a five year strategic plan that will include goals and strategies to aschieve the goals. this all assignment must be in 5-7 pages
Explanation / Answer
The “Idea” and strategic objectives
In the present era all jobs be it a manual laborer's work or an Investment banker’s job are getting replaced as companies are finding it more and more beneficial to invest in automation Although this is absolutely essential for the growth of business but the progress and development of society is stalled due to ever increasing rate of unemployment. Hence our Idea is to create an organization that delivers financials as well as generate more job opportunities by reinvesting in Indian handicraft industry . We want to create a firm which mediates the trade of handicraft makers and customers and has an innovative edge. Our objectives are:-
1. Linking artists and markets directly and thus cutting the long chain of middlemen and providing a sustainable source of income to all artisans
2. Giving the artisans a fair value for their work and supplying genuine handicrafts as compared to pirated/counterfeit products
3. Enhancing artisans skills by training so that they become self-sufficient and start integrating different ideas together such as handloom with home decorations.
4. Creating a collaborative culture for all such artists
Focus Differentiation
Our Short term strategy will focus on getting a foothold in the market for which we are opting to start with High value product Tasar.
As of now the industry is focused on creating apparel from pashmina but we will integrate pashmina with home decoration as well , which is in high demand in western world.
Strength
Large, diversified and potential market.
There is large product variety and range is available because of diversified culture.
It has strong, diversified and supportive retail infrastructure.
Diversified product range that service different market.
Cheap labor rates that result to competitive price.
Need low capital investment.
There is flexible production flexibility.
Low barriers of new entry.
Weakness
Lack of infrastructure and communication facilities.
Unawareness about international requirements and market.
Lack of co-ordination between government bodies and private players.
Inadequate information of new technology.
Inadequate information of current market trends.
Lack of skilled labor.
Still confined to rural areas and small cities
Lack of promotion of products
Threat
Competition in domestic market.
Balance between high demand and supply.
Quality products produced by competing countries like China, South Africa.
Better Trade terms offered by competing countries.
Increased and better technological support
Opportunity
Rising demand for handicraft products in developed countries such as USA, Canada, Britain, France, Germany, Italy etc.
Developing fashion industry requires handicrafts products.
Development of sectors like Retail, Real Estate that offers great requirements of handicrafts products.
Development of domestic and international tourism sector.
e-Commerce and Internet are emerged as promissory distribution channels to market and sell the craft products.
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