Comparison Of Business Plans Of Blueprints Business And Whitefort Solutions

Quality Check and Customer Management

Discuss about the Faculty Evaluation of Marketing Research Streams.

A business is a basic blue print that any organization, small or large needs to have before starting business. It can also be called a route map towards the achievement of organizational goals and objectives. The report below would compare the business plans of two companies, Blueprints Business and Whitefort Solutions. Both the companies are financial firms. The only difference however is that Blueprints business is a large-scale operation whereas Whitefort Solution is a small-scale emerging company.

Blueprint business adheres to a revision and strict monitoring plan that would be updated every six months. Quality check department would also be incorporated after a certain span of time (Jacobs, Chase and Lummus 2014).

Whiteford Solutions has planned quality check assurances every two months. Since the business is emerging it needs to have good quality products so that it can capture the attention of the customers. It would be apt to assert that the investment in the business is low, and as such marketing and promotion on a grand scale would be a little risky for the company. As such, the firm decided to focus only on the quality at the initial stage.

Blueprint business will be making the use of Microsoft office and MYOB for handling internal data and managing accounting soft ware. Salesforce.com, a customer management tool will be used for getting an insight about the present customer base and also about the future customers (Bryman and Bell 2015). Woocom.com.au has been assigned by the company to develop online communication and e-commerce basics. Some loyal clients will be awarded with private access to wiki. This decision has been taken by the company in hope that customers, loyal clients, and their valuable feedbacks will help to improve the overall business with the passage of time. The clients and the customers who will be given free access to wiki will be known as “lead clients” as it is hoped that they have a considerable and significantly a leading part to play in the development of the business.

Whitefort Solutions has yet not planned about awarding wiki access to loyal clients. However, in the context of information and communication technologies, Whitefort solutions will be using Microsoft office in order to handle its programming and office basics. Unlike Blueprint business, it has not yet planned to invest on any other office operating software tools since it yet is not sure about revenue returns. However, the company has planned to invest or XERO or Reckon, depending on the needs and price. Though there is no immediate thought of lead clients yet the company has planned to focus on customer’s feedback and change and alter its business plan according. Being an emerging company the focus is laid on customer satisfaction (Edel 2017).

Use of Software and Online Communication

In the context of critical risk and contingency plan, it would be apt to assert that evaluation of risks and backup plans are an indispensible part of business plan, since any company needs a wall straight enough to lean upon at times of crisis. Blueprint business has made a few backup plans which are as follows:

Liability measures: Insurance companies will ensure the liabilities of the company

Risk of managing director: Any risk of loss associated to the managing director would be fixed from the compensation of the employees of the organization (Sadgrove 2016)

Work overload: The work would be distributed between other departments. Apart from that, excessive workload would be also handled by external agencies that would be hired by the company when the situation would be apt.

In terms of critical risk and contingency plans, insurance companies will maintain Whiteford Solutions’ liabilities. However, the insurance company insures not the totals of liabilities as making such policies would be costly for a start-up company. The hierarchy of the company will handle work overload. The hierarchy of the company has a mental setup to control and work at times of pressure since it would not be able to afford external agencies. Apart from that trusting about the quality of the services provided by the external agencies too would be risky as branded external agencies cannot be afforded at the moment (Giannakis and Papadopoulos 2016).

A proper market survey has been conducted to analyze the price of the deliverables running in the market. Prices of the goods and services are also tracked with the manager’s individual knowledge on cost and accounts. In the very initial of the month, the revenue will be auto generated into the accounts department. As a result, the workers will be paid their salaries in time. However, the company has not yet set any plan for inflation or deflation in market rates and its corresponding impact on the work process and revenue. According to the revenue and profit margins of the first year the business plan will be designed for the second year (Krishnan,  Nandy and Puri 2014).

In the case of Whiteford Solutions, it has been planned that trained and experienced personnel who will be hired by the company will handle the financial department.  The company wishes to spend in this sector, as the financial base needs to be strong to make an organization flourish. In the  context of Whiteford Solutions too, the company will aim at the inflow of revenues in the very initial of the months so that the employees are paid timely and there is no break in the production department. Otherwise, it would be difficult for the company to maintain a loyal customer base. Since the company is very new, it cannot afford to dissatisfy its customers.

Critical Risk and Contingency Plan

Blueprint business has its financers that are the directors of the company. Its directors like will contribute the major part of the capital in accordance to their respective shareholdings. Stephen Molly, Jessie Joes and Andrew st John will be contributing A$4000, A$4000 and A$2000 respectively. As per the early order of the clients sales in July 2014 will be tracked. The company would not be facing any financial crisis and also the chance of debts will be less. Since investments are made only on the confirmed order of clients, the company would not be requiring bank loan.

Whiteford Solutions will be requiring bank loans for the initial investment. Since the company is not sure about in how much it will be established, the bank loan would be taken in moderation. The hierarchy of the company will make no investments. However, the factors like interiors and the basic official needs will be taken care of by the hierarchy of the company.

Blueprint requires management staffs having an insight about the nature and demands of public. The company will be preferring individuals who are experienced in small scale business since it would be easier to apply the same strategies in large scale and the cost would be less too.

Whiteford on the other hand requires managers who are new and fresh. That is experienced without the company will hire any iota of doubt but at the same time new managers will be welcomed as well. The company wishes to apply fresh and innovative strategies that would bring a difference in the production and as sales.

Blueprint business will undertake a training an development program where al the employees of the organization has to undertake a 20 hours of training program each year. The training process will be monitored and will be referred for future use. Undergoing through the training process has been made mandatory by the organization (Mikic, Novoselec and Primorac 2016).

Whiteford has planned about training and development program of the employees but the program would be scheduled at the very initial of the year. That is, the employees will be trained at the very starting of the financial year so that each member of Whiteford has a clear insight of the company goals and the methods of achieving those.

Blueprint Business	Whiteford Solutions
Professional indemnity Liabilities to public	Same as Blueprint Business

Blueprint Business	Whiteford Solutions
·       Training and development program will b charged at A$120 per hour ·       Preparation of business plan (10 page) is charged at A$2000, excluding GST ·       Fees will be charged after the services are provided	·       Training and development programs will be charged at A$100 per hour, which is considerably less than the other companies in the market. ·       A basic business plan will be costing AS2000, which is equal to Blueprint business. However, the fee will be inclusive of GST. ·       Half of the fee will be taken prior the delivery of products and services.

Blueprint will assess the change in its marketing policy in a span of six months, to evaluate which factor is working best for sales of the products. For example, if maximum sales are generated through promotion of brochures then the company would look into more innovative strategies to enhance the same.

Financial Investment

Business name and Legal structure

Blueprint Business	Whiteford Solutions
Blueptints Business pvt ltd Aus business number 99 999 999 999 Structure has been established with three share holders	Whiteford solutions pvt ltd Aus business number 20 111 111 111 Company structure has been planned and is a family business. It does not have any shareholders at present.

Blueprint Business

Whiteford Solutions

Strengths: It has experienced legal advisors It has connections with Small Business Advisory Network Weakness: Operations are handled by single employee Track record in external agencies are too poor Threats: Competitors Opportunities: External training programs, mentoring services may anticipate growth

Strengths: It focuses on fresh recruitments hence can bring innovative ideas to  the company Weakness: The company is new in the market while the market is already nearly saturated. Threats: Strong and established competitors Opportunities: Since most of its prices are on the lower side the company would be able to catch attention of client easily. It is not compromising with the quality and hence, will be able to form a loyal customer base

Target market and products comparison

Blueprint Business

Whiteford Solutions

Business planning The firm size is relatively small to medium size and the location is in Sydney metropolitan era. There are near about 200 000 firms alike. Purchasing choice of clients In order to trace  customer’s choice SME’s will be needing expertise solutions even for factors like organizational repositioning. Training Short trainings will be provided on human resource, marketing and finance management. Target market Small and fresh business owners  Sydney Metropolitan area Individuals with sufficient business income Buying motive In order to analyze the managers would be needing short and to the point courses. Increase in knowledge helps the business to grow. Small business development materials This attempt would serve two purpose. On one hand supply of course materials while training would make the course interesting and elaborative. On the other hand selling of the books will also help the company to earn.

Business planning The firm size is small, that is 1-50 employees and the location is in Sydney central park area. The competition is moderate with 16966 such firms. Purchasing choice of clients Experienced personnel will be hired since the company does not have enough capital to be spent in all sections. Training Extensive training will be provided to specific section of employees on the topics og financial management, human resource management and sales and marketing. Buying motive Buying motives can be traced by estimating the sales and further training can be provided on related subjects Small business development materials Books will be provided while training programs. However, the books will not be sold and at the same time the books can be repeated for next training modules.

The founder of the business is Jessie Jones who previously was employed as a trainer and mentor from august 2001 to August 2014. Her designation was that of a management consultant.

Founder of Whiteford solutions too has an experience of related work and was employed as a management consultant for 2 years.

The primary goal of the company is to employ at least a certain unit of full time employees in order to generate profit. The secondary goal or the long term goal will be employ full time based employees in a larger context and shift the entire business in its own building that would be bought by company’s own capital (Sharma 2015).

Whitefort business on the other hand has set a primary goal of achieving enough fame among customers. The company wants o earn enough to that the revenues are withdrawn in the initial phase. The secondary objective of the company is however to employ workers that are permanent and full time based so that the revenues are converted into profits.

The target markets of Blueprint business will be the small business managers and the SMEs. Blueprint business will be able to provide contract based services, provide training and development programs in small business management and skills etc (Babin and Zikmund 2015). Whereas on the other hand it will be making business plans, feasibility studies and associated services for small business managers.

The target markets of Whiteford Solutions will be only SMEs. Since the company is very new and has limited expertise, it will focus only on a single wing at the time being. After it is enough potent and has a strong hold over the SMEs, the company would further enhance its wing on the other fields. Further, since the owner of the company has a background experience of management consultant that deals with training and development of business analytical skills, the hierarchy will be able to focus more clearly on the working process. Apart from that starting with a single branch provides better concentration, thus, better results.

The mode of operation will be from the managing director (Jessie Jone’s) private home. Since the basic requirement, that is office space is met, the rest of the things can be taken care of.

Whiteford Solutions will be starting its business from a rented office space at Techno Gardens, southbay, Sydney. The company wanted to maintain a professional outlook since the very starting of the organization. In order to maintain the overall outlook it is imperative to make a better presentation to the customers (Slack 2015).

As discussed the business partners and the stake holders will be funding the initial capital for the startup of Blueprint business.

Whiteford Solution will be applying for bank loans and since it is a family business, the founder will be looking after the funds.

Conclusion

The report clearly compares to draw the similarities and the dissimilarities between the two companies. It focuses on the vital grounds like Finance, operations, marketing and various other domains. A though reading of the documents will help the reader with a clear insight about the important criterions of business startup.

Reference List

Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.

Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.

Edel, A., 2017. The theory of business enterprise. Routledge.

Giannakis, M. and Papadopoulos, T., 2016. Supply chain sustainability: A risk management approach. International Journal of Production Economics, 171, pp.455-470.

Jacobs, F.R., Chase, R.B. and Lummus, R.R., 2014. Operations and supply chain management (pp. 533-535). New York, NY: McGraw-Hill/Irwin.

Krishnan, K., Nandy, D.K. and Puri, M., 2014. Does financing spur small business productivity? Evidence from a natural experiment. The Review of Financial Studies, 28(6), pp.1768-1809.

Mikic, M., Novoselec, T. and Primorac, D., 2016. Influence of financing source on the small business performance. International Journal of Economic Perspectives, 10(2), pp.62-72.

Sadgrove, K., 2016. The complete guide to business risk management. Routledge.

Sharma, D., 2015. Faculty Evaluation of Marketing of Research Streams and Self Serving. In Creating and Delivering Value in Marketing (pp. 218-218). Springer, Cham.

Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.