Business Plan
Business Strategy: Individual Business Plan
By: Ruslan Zotiadis A915885
Contents 1. Personal Development 2. Team working aspects 3. Response to feedback 4. Personal ideas for the business plan
Personal development
My main role in the team was the Production/Sourcing part. Thinking of costs to set up production, consider issues associated with production and method of production (in house/outsourced), supply considerations.
The first step I did was find out how the seat belt is manufactured and what sort of tools were required. This is where I saw a bit of an issue, the manufacturing is not complex but requires a fair amount of tools and machinery on a factory floor which our company would not be able to afford with the £100,000 initial investment. Furthermore, safety testing of each seatbelt system needs to be assessed after the seatbelt has been manufactured, and this requires more machinery. Hence, the first decision made that the seatbelt manufacturing has to be made by another company. This would not be a problem once the patent is secured.
After realising that manufacturing will be completed by a contract manufacturer, I needed to make sure the contract cost and the logistics costs to be kept to a minimum. This means being competitive on all the freight pricing.
Team working aspects
The team was easily organised and everything just fitted in place. There were five aspects to focus on in the Final Group Business Plan and there were five team members. Each team member chose his part and there was no quarrel over any particular area.
Regular meetings were held to decide on general decisions about our business plan, where the business plan is headed and the next steps to be completed.
Once each team member chose their individual section and the team agreed then each team member went and carried out his own research and then reported back to the team in written format and verbally during the next team meeting.
The team made
By: Ruslan Zotiadis A915885
Contents 1. Personal Development 2. Team working aspects 3. Response to feedback 4. Personal ideas for the business plan
Personal development
My main role in the team was the Production/Sourcing part. Thinking of costs to set up production, consider issues associated with production and method of production (in house/outsourced), supply considerations.
The first step I did was find out how the seat belt is manufactured and what sort of tools were required. This is where I saw a bit of an issue, the manufacturing is not complex but requires a fair amount of tools and machinery on a factory floor which our company would not be able to afford with the £100,000 initial investment. Furthermore, safety testing of each seatbelt system needs to be assessed after the seatbelt has been manufactured, and this requires more machinery. Hence, the first decision made that the seatbelt manufacturing has to be made by another company. This would not be a problem once the patent is secured.
After realising that manufacturing will be completed by a contract manufacturer, I needed to make sure the contract cost and the logistics costs to be kept to a minimum. This means being competitive on all the freight pricing.
Team working aspects
The team was easily organised and everything just fitted in place. There were five aspects to focus on in the Final Group Business Plan and there were five team members. Each team member chose his part and there was no quarrel over any particular area.
Regular meetings were held to decide on general decisions about our business plan, where the business plan is headed and the next steps to be completed.
Once each team member chose their individual section and the team agreed then each team member went and carried out his own research and then reported back to the team in written format and verbally during the next team meeting.
The team made