Dissertation proposal is the proposal, which is created to describe what a researcher going to investigate and wish to examine through the research. It can be related to any topic, which is selected accordingly. The topic, which is selected here, is the introduction of dance academy for three Indian dance forms, i.e. Punjabi, Kathak and Bollywood. These three are the major dance styles, in which people and youngsters get interested. This proposal includes the discussion about the business concept, its business plan and financial plan. At the end, it describes that how different activities and tasks of dissertation will be implemented using action plan.
Presha dance academy is a new dance academy which would be started in New Zealand. This academy will consider Indian dance class services. It is analyzed that Indian dance contains different dancing style which could be generally classified into classical and folk dance. There is different culture in India as different forms of dance invented in distinct parts of India. Indian dance is root of Sanskrit text Natya shastra and religious presentation arts of Hinduism. Furthermore, Folk dance are several in numbers and different style. It is vary as per the local tradition of state, geographic and ethnic regions (Asia New Zealand Foundation, 2017). Moreover, Contemporary dance entails the experimental and refined fusions of folk, western and classical forms. Indian dances have held their significance presence in popular culture of the Indian subcontinent. It is analyzed that in New Zealand, there are approximately 146,500 people who lives in New Zealand for different purposes in which most people belong to Punjabi and Guajarati family background (Kuiper, 2010).
Presha dance academy will offer training of different dance style like Kathak, bollywood and Punjabi dance. These dance style is chosen because it will pull the attention of attention of large number of Indians who lives in New Zealand and have interest to learn dance.
Kathak is traditional attribute which is ancient of northern India and called as storytellers. Kathak word is derived from vedic Sanskrit which means story or to do with stories. It is started during the Bhakti times especially by childhood and affectionate stories of Hindu god Krishna. This dance is influenced by the Mughal society and then reborn as India growing freedom. Presha dance academy will offer different Kathak style that was evolved in Jaipur, Lacknow and Banaras. The kathak dance will focus on the rhythmic foot movements, movement harmonized to the music, and legs, adorned with small bells and torso are generally straight. The story is told via developing gestures of arms and upper body movement, stage movements, facial expressions, and bends and turns (Bauer, 2012).
Bollywood dance can influence the different culture of Indian people hence Presha dance academy will consider this style (Daboo, 2017). It is analyzed that Bollywood has impact on daily life and culture of people. This deals in biggest entrainment industry. Bollywood dance is wedding and fashion trend which has highly influenced people in New Zealand. Bollywood fashion trendletter includes the Madhuri Dixit in Hum Aapke Hain Koun (1994), and Madhubala in Mughal-e-Azam (1960).
Punjabi dances are collection of folk and religious dance of Punjabi people who native to the straddling the border of India and Pakistan and Punjab region. The range of Punjabi dance style is very high energy to slow and reserved. There is particular style for men and women like certain dances are secular while others are demonstrated in religious background (Bennett, 2014).
These dances are highly performed at time of celebration like Weddings, Melas (Festivals), Harvest (Visakhi), and Lohri, Jashan-e-Baharan (Spring Festival). In this season, everyone could be encouraged to dance in New Zealand. Moreover, married couple of Punjab usually dances together. The husband dances come in the male punjabi dancing style and started with arm rose while wife dances comes in female Punjabi dance style category (Jain, 2016). The key Punjabi folk dance for men is Bhangda and for female is Giddha.
Presha dance academy will consider different Punjabi style dance for females. These are Kikli, Sammi, Jaago, Punjabi Girls dancing, and Giddha. It will also consider different style for males like Mirza, Khichan, Dankara, Khatka (Sword Dance), Malwai Giddha, Dhamal, Jugni, Bhangra, Sial Koti, Dhamaal Dance, and Jhumar. It will also contain some common dances for both males and females like Dandass, Jindua, Karthi, and Bhangra (Benitez, Ruiz, Llorens-Montes & Castillo, 2017). 2
For starting this dance academy, different regions of New Zealand is targeted where people highly belongs to Indian country. These regions will be Auckland, Wellington and Waikato. These classes will target the different age-group of customers such as children (5 to 8 years), juniors (9 to 12 years), adults (13 years onwards), married men and women, corporate people, and disabled people. These dance classes will be located in different location of New Zealand (Kumar, & Kishore, 2017).
Presha dance academy will provide quality dance education in a nurturing environment and create a sense of belonging and self-esteem amid students. It will also facilitate wide opportunity for social communication with special events and dancing. This dance academy will facilitate the opportunity to people who wants to learn dance as their profession (Bhargava, & Srinivasan, 2017). It will also offer dance education to each kind of people by integrating it with fitness exercise and in other style. These features show that Presha dance academy will contain the unique selling proposition in their business.
Competitive advantage is the factor that makes a business better than its competitors in the minds of its customers. Under this business, the organization is planning to establish the dance academy in Auckland, Wellington and Waikato. In Auckland and Wellington, there are some already established dance classes, which may cause the Presha Dance Academy in losing its competitive edge. Some of the competitors are, like; Aaja Nach Le School of Dance in Auckland, The Mayur Dance Academy and New Zealand Dance Academy in Wellington. It will be very challenging to introduce the benefits of Indian Dance Forms and dance academy in the cities.
To attain competitive advantage in the market, Presha Dance Academy will keep its prices affordable with the lower costs of living in different areas of New Zealand (Bolwell, 2014). It will offer a range of different competitive packages, like; for family, couples and groups dances. The teachers and trainers will be trained with the up-to-date and latest trends of today’s Bollywood and other dances’ styles. In future, it may plan to partner with other well-established dance classes in the areas, so that it can go ahead with the trends and provide more offers to its students. It will assist the organization in gaining more competitive advantage in the New Zealand’s market. Furthermore, competitive edge of the company can be determined on the basis of market segmentation and targeting (Brinckmann, Read, Mayer-Haug, Dew, & Grichnik, 2015).
Market segmentation is one of the most important concepts of marketing and for attaining competitive advantage. The concept of market segmentation states the business should recognize segments of product or service demand and target specific segments. After considering the segmentation, the organization will target the market and create effective and most suitable market strategies to gain more competitive advantage over its competitors (Popov, and Roosenboom, 2013). As discussed above, Presha Dance Academy will segment its market on the basis of demographic characteristics, like; different age groups and geographic characteristics, like; region, i.e. Auckland, Wellington and Waikato. Different age groups will include children of 5 to 18 years and adults, so the organization will create its marketing strategies accordingly. In addition to this, it will consider the target market and strategies of other existing competitors in market, and then it will be determining its market segmentation and target (Rogers, 2014).
The key aim of starting this dance academy is to offer quality dance training and create dance opportunity for all people. The following objectives will be used by Presha dance academy to attain main aim of this research:
Defining the literature review is an important part for any dissertation’s literature review. It is a challenging process to find out and review the literature for dissertation. Under this, two ascholarly articles are taken into consideration and reviewed for its literature (Chakravorty, & Gupta, 2012). An overview of the subject and issue is considered and some specific theories and strategic frameworks are applied accordingly. From these articles, it is analyzed that in there are more than 146,500 people, who are living in New Zealand for different objectives, from which most of the population belongs to the Gujarati and Punjabi family. They are interested and prefer to learn the Indian dance forms, especially Punjabi dance. According to Martin (2013), Dance forms and Music in India are the important part of its culture as a means of entertainment and these are closely connected with their beliefs, practices and religions. There are so many people from India, who are living in New Zealand for different; they prefer to stay there by following their religious beliefs (Martin, 2013). So, it will be profitable to introduce the dance studio in different cities of New Zealand. Moreover, the author stated that Bollywood, Kathak and Punjabi are the most popular dance forms of Indian, which people prefer to get training. Today, the Bollywood dance style include street dance, jazz and hip hop. The people from India are making efforts for preserving their dance forms through performance and education.
In this context, Unni, (2016) stated that Kathak and Bharatanatyam are two most popular Indian dance forms in New Zealand, so it will be very beneficial to introduce new dance class in the country. These are the major dance forms, which play an important role in improving the Indian identity in different locations in New Zealand. In this country, there are some dance forms, like; Folk dances, Bollywood and fusion dances feature all over New Zealand in the events, held by migrants. In these events, the performances are given by the local Indian societies and dance academies, so it will be profitable for Presha dance academy to introduce its classes on for Indian dance forms (Unni, 2016).
Thus, these two sources will be used by analyzing their objectives, subject and their use for the research. These sources will assist in getting more information on Indian dance forms and development of these dance forms in different parts of New Zealand. The country is promoting the Indian identity by evolving three major dance forms, i.e. Kathak, Punjabi and Bollywood.
For this dissertation, both quantitative and qualitative approaches would be used in the research program. Primarily, secondary data will be used to gather the quality information from scholarly articles, journals, websites, other well-established dance classes and internet. The major process will be conducting the market research, which will provide the information about the current trends and target market, i.e. New Zealand. The main objective behind the data collection is to create the understanding about different aspects about the dissertation topic and its application. To establish this new business in the country, there will be need to know about the existing competitors and their strategies and tactics. These secondary data sources will be used to collect the data from target market and internet sources, like; website of already established dance academy. It will be used to analyze their pricing strategies and current trends among the people.
An in-depth market research and investigation will assist in knowing about the competition and assessing the major strengths and weaknesses of its competitors. It can help a new business start-up in making its products and services to stand out in the market. There are some secondary data resources like; public records, business databases, free web tools and web audits, which can be used for conducting competitive analysis. There are so many competitors in some cities of New Zealand, which are offering training of Indian dance forms. The major competitor for Presha Dance Academy will be Aaja Nachle Dance Classes, which is located in different locations of Auckland. It offers Indian dance classes for the children, preschoolers, adults and teenager and provides a wide range of attractive offers for them. It is the most popular academy for the chosen dance forms. Apart from this, Mayur Dance academy is also one of the major competitors of Presha dance academy that is based in Wellington and provides the training for Indian dance forms, like; Kathak and some other classical dance styles (David, David & David, 2016). The level of competition can be investigated by conducting marketing research before starting a new business. This research will assist the organization in knowing about the pricing and marketing strategies, used by the competitors.
Developing effective pricing and marketing staregies play a significant role in building brand image and awareness, customer development and lead generation. So, it should be the major focus of this new start-up of dance academy. Moreover, pricing strategy is the major component of organization’ marketing strategies (Armstrong, Kotler, Harker, and Brennan, 2015). For developing the effective strategies, first the business needs to determine its objectives and goals, for example; new product or service introduction, enhance the profitability, market penetration etc. After that, it will need to conduct market pricing analysis, under which it will consider the pricing strategies of brands in similar industry. At last, it will analyze its target market and implement the pricing and marketing strategies accordingly, so that it can approach the people effectively.
After the analysis, Presha Dance Academy will develop its marketing and pricing strategies, using marketing mix tool;
The product of Presha Dance Academy is offering the training for three Indian Dance forms, Punjabi, Kathak and Bollywood. It is offering the services by targeting the different areas of New Zealand. It will offer its customers smooth and flexible steps, which they should enjoy. There will be a refreshing environment and music, which each and every person in the room can hear and atmosphere will be very comfortable for the people of all age groups (Baker, 2014).
Presha Dance Academy will offer its services on affordable prices, which can be afforded by an average individual. In the future, it will change the prices according to the demands of services. It will use an effective pricing strategy, which can assist it in attracting large customer base in New Zealand.
The dance academy will be located in the different locations of New Zealand and the major cities are such as; Auckland, Wellington and Waikato. It will select the areas, where most of the population can approach for learning Indian Dance styles. In addition to this, it will create a site, which can be checked by the customers to know about the schedules, timings, dance forms and price declining (Flick, 2015).
Presha Dance Academy will create an online website that will provide a better way for the customers to discover the details about the business. It will advertise and promote its services on the social media networking sites, like; Facebook, Twitter and Instagram, because most of the population is active on these sites. In addition to this, it will advertise on television and through promotional campaigns and brochures (Hill, Jones, & Schilling, 2014).
The projected financial plan for the Dance Academy is given below;
|
Start-up Budget- Presha Dance Academy |
|
|
Start-up Funds and Expenses |
in $ |
|
Legal Expenses |
1500 |
|
Music Equipment and stationary |
1000 |
|
Accountant |
500 |
|
Brochures |
300 |
|
Grand Launching |
4000 |
|
Signage |
450 |
|
Other Expenses |
2500 |
|
Total Start-up Expenses |
10250 |
|
Start-up assets |
|
|
Cash Needed |
10250 |
|
Current assets |
11000 |
|
Long Term assets |
17500 |
|
Total Assets |
38750 |
|
Total Requirements |
49000 |
Income Statement
As per the financial forecast done, the income statement shows a loss of $34,605 in the first quarter of the first year. The starting three months reported a loss and after that business started earning profits. It is estimated that by the end of second and third year, profits of the business will be $2,152,562 and $6,040,465. The balance sheet shows true position of the business and as per the forecast, it is determined that in first year the initial capital brought in the business is $ 50,000 which will increase to $60,000 and $70,000 in the next two years. Also the fixed asset purchased will get depreciated within one year only. Negative retained earnings are also reported in the starting five months. Forecasted cash flow depicts that though the business incurs losses in initial times but it has adequate availability of cash to meet its expenses. The amount of cash will increase in second and third year, as per the forecast. For the above figures, notes are given in the attached excel file.
By the use of SWOT and PESTLE analysis, the situation and position of this new business concept can be analyzed. Both the strategic techniques will assist in analyzing the external and internal factors, which may impact the growth and success in the New Zealand market (Bull, Jobstvogt, Böhnke-Henrichs, Mascarenhas, Sitas, Baulcomb, & Carter-Silk, 2016). SWOT and PESTLE analysis of Presha Dance Academy is given below;
The major strength of Presha Dance Academy is that it is offering more than dance form of India, i.e. Kathak, Bollywood and Punjabi. Along with the dance training, it will offer isolation, yoga and stretching exercises to its customers. In addition to this, target market of the academy is very wide, so it will be beneficial for the organization to create the customer base. It will hire international teachers and trainers and give a certificate on the completion of course.
The company is in the start-up phase, so it may take more time to develop its customer base. In the beginning, it will have less recognition among the people of New Zealand. It will need more advertising and promotion techniques, so that it can create customers (Hollensen, 2015).
Presha Dance Academy may have various opportunities through this dance training business, as the youngsters are becoming more aware and passionate towards dance. The people are New Zealand is also attracted towards the Indian dance forms, which can give various benefits to the Academy. Nowadays, people consider dance as an exercise and they want to do it to stay fit (Jette, & Roberts, 2016).
One of the major threats is intense competition in the market of New Zealand. In the Auckland, there are so many large and small dance studios, which may pose the competitive pressure for Presha Dance Academy. In addition to this, there are some well-known dance teachers, who provide training for Indian dance styles. Moreover, it may confront the issues related to funds and financing options for start-up (Richards, 2015).
PESTLE analysis can be conducted by analyzing different external factors, which are present in New Zealand and impact of these factors on growth of dance academy in the country. The PESTLE analysis of dance academy is stated below;
The political situation in New Zealand is better for any new business start-up, like; Presha Dance Academy. In this country, the organization needs to become aware about the laws and regulations, as political changes are occurred after three years and new government imposes new regulations. These changes may impact the growth of dance academy in the country (Ashley, 2014).
In the country, people like to spend the money on their interests and luxury products and services, so it will be profitable for Presha Dance Academy to establish business in the cities of New Zealand. The unemployment and inflation rate is less than other neighboring countries, which is the good sign for the GDP. It indicates the people have capabilities to spend their saving to fulfill their passion towards dance or other cultural activities.
In New Zealand, the people are becoming more passionate about the dance and fitness. They consider the dance forms as exercise, so it will be beneficial for this mew start-up. Currently, more than 174,000 Indians are residing in different locations of New Zealand and they are trying to promote the Indian identity in the country by learning and performing Indian dance forms, i.e. Kathak, Punjabi and Bollywood. Thus, the social and cultural factors will assist in the growth of dance academy (Feys, & Probert, 2015).
Analyzing the technology factors will assist the business start-up in understanding about its positive and negative impact on the business growth. Due to advancement in the technology, education system is also improving in the country. The schools are also providing dance classes and hiring dance teachers that are more affordable than joining dance academies. In addition to this, technology factors are beneficial in the context of advertising and promotion (Jordan, 2017).
As discussed above, the laws and regulations are changing in New Zealand after every three years, which may affect the growth of dance academy in the country. It must be extra aware about the changing government and laws. The country has given the trade and business freedom to the international companies, so the outside academies are posing competition for the Presha dance academy (Kelsey, 2015).
In New Zealand, the dance academy may face the scarcity of resources, because the cost of transportation is higher than other countries. After introducing the dance academy, the people may have the objections, living in the localities due to loud noise of music and speakers. So, it needs to consider the things, which may impact the environment adversely (Krol, 2013).
Thus, these tools will assist in analyzing the growth of business concept of dissertation proposal, i.e. introducing Indian dance form academy in New Zealand. To do these analyses, there will be need of different information, like; political data and changes in the political systems, economic statistics and rate of inflation and employment and laws and regulations, which are imposed on this start-up.
When an organization introduces a new business concept, then it is very necessary to consider the ethical and cultural issues, because they may have an adverse impact on the brand image of the firm in country (Lam, and Harker, 2015). There are some ethical and cultural issues, which are relevant to this research and chosen business concept, i.e. introducing an Indian dance form academy. These issues are given below;
When a research is conducted, the major emphasis should be on collecting the data and information in fair and ethical manner and keeping the ethical consideration. They need to maintain the privacy of data and conduct the research in fair manner. In this research, the researcher has faced the issues related to collection of data (Mackey, & Gass, 2015). The dance studios, which are already established in the country, they considered it unethical to take their information and strategies from their websites and annual reports. Furthermore, there is the issue related to biasness, as they make more focus on external analysis, which is not sufficient for conducting this research.
In the introduction of Presha Dance Academy, there may be some ethical, cultural and issues, which it needs to consider in its business life cycle. Under this business concept, it may confront the ethical issue, like; the teachers and trainers, who are providing dance training at academy, can teach the students outside. It will make the dance steps and moves very common. As Kathak is one of the major dance forms of Indian classical dance, so it is essential to give that much respect to its dance steps and gurus (Lim, Ashley, & Horsley, 2014). If it will be not done by the Presha dance academy, it may influence the Indian people adversely towards the image of dance academy. Apart from this, it may face the issue related to privacy and security of the information of students. According to the code of ethics, the dance academy needs to keep the student’s information confidential. The perception of people towards dance may create issues for this dance academy in New Zealand, as the people thinks that most of the male dancers are gay.
Furthermore, there may be issues related to theft of copyright and imitation of choreography. In some of the cases, the customers and disabled people may feel that they are discriminated by the trainers and teachers of dance academy (Melchior, 2013). It can affect their motivation level and confidence level towards learning these Indian dance styles, Kathak, Punjabi and Bollywood. It needs to give equal response and opportunities to all the students, who are coming to the Presha dance academy. In addition to this, parents of girls and kids may think that their children are not safe at the dance academy; it can affect its brand image among the people in Auckland, Wellington and Waikato. Moreover, the dance teachers and trainers need to have professional attitudes, reliability, punctuality and care for their students. Thus, these are the major issues, which are relevant to the research and selected business concept (Zaggelidou, Tsamourtzis, Malkogeorgos, & Zaggelidis, 2013).
There are some resources and equipment, which are needed for conducting this research. The major resources are human and financial resources. The firm has hired a marketing expert, who has conducted marketing research and gave the information regarding the competition and their strategies (Zikmund, Babin, Carr & Griffin, 2013). Financial resources are very important and essential for conducting the research, as they have to pay salaries to the researcher and other human resources. Apart from this, it needs some information resources for collecting the data, which will assist in introducing this new business of dance academy (Ryan, 2016). These information resources may be, such as; internet sources, websites, newspaper etc. For introducing Presha dance academy, there will be need of different resources and equipment, like; space on rent, location, storage, practice rooms, speakers and bathrooms. It will need cameras to provide proper safety and security to the girls and children students.
Before conducting a research study, a research budget is developed, which has included all the expenses occurred on this research for chosen business concept (McKeever, 2016). The research budget for this concept is given below;
The time plan for the dissertation work is given below, under which all the works and activities are divided accordingly;
|
Serial No. |
Key Dissertation Tasks |
Starting date |
Period in days |
Ending Date |
Explanation |
|
A |
Topic Selection |
1 January 2018 |
2 |
2 January 2018 |
In this, selection of topic will be conducted |
|
B |
Planning about the dissertation |
3 January 2018 |
5 |
7 January 2018 |
The plans will be created for executing the research. |
|
C |
Execution of research plan |
8 January 2018 |
8 |
15 January 2018 |
Developed research program will be implemented by the researcher |
|
D |
Collection of secondary data and information |
16 January 2018 |
5 |
20 January 2018 |
Data collection methods will be used and information resources will be scrutinized. |
|
E |
Data Analysis |
21 January 2018 |
4 |
24 January 2018 |
Collected data will be analysed and results will be found |
|
F |
Concluding the research and suggestions |
25 January 2018 |
4 |
28 January 2018 |
After analysing the data, the conclusion will be made and suggestions will be given accordingly. |
The above given Gantt chart provides all the details about the activities and their duration for the completion of dissertation on the chosen business concept, i.e. launching a new business of Indian dance classes.
Conclusion
Thus, the dissertation proposal includes all the required details and required budget for the business concept. The data is collected using secondary resources, like; website of organizations and other internet sources. Presha Dance Academy is going to launch its business in New Zealand, which will be favorable for the academy, as there are so many Indian people residing in the country. Under this, the major emphasis is on collecting the quality data and enhancing authenticity and reliability of research plan.
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