What is a Business Report?
The growing advancement in technology and its adoption by many businesses has catered benefit for their business process. The business that goes with same old tradition of doing business faces tough time to maintain their operation and survive in the complex market. The current report will be discussing the supporting factor that will help in pleasing the bank to grant loan.
Background
The proposed report highlights that a medium sized business has been purchased and in order to improve its business process, the entrepreneur of grocery store wants to employ a whole new information system that can improve its operation and sustain in the market. Therefore, in this case entrepreneur is shortage of capital and requires having loan. Thus, entrepreneur approach to local bank for $80000 for financing it activity.
Aim
The objective of the given report is to provide acceptable evidence and document that can assure that entrepreneur really requires loan for its business process and also full financial detail for paying loan after loan is granted.
The grocery store business was opened back in 1989 and it is engaged in providing services to local community for number of years. The store is well known by the local consumers and buys many products from the stores. With the increase of other grocery store and better service, the customers are gradually shifting their preference to those stores. The business operates their business in traditional way and does all their work manually without using any technology like computers or other system. The employees of the business has to perform all their activities by their own which exerts pressure on them as they has to do all the work on paper. The grocery store operates in two distinct locations that are Dubbo and Bathurst in New South Wales. As per the last five years annual report of the business, the profit and sales has been declining. Apart from that, the business lacks information about who are their loyal customers (Kursunluoglu, 2014). The business process of grocery store is being continued in the same fashion as it was started and due to that business is not able to compete in the globalization period. Although, the owner of the business has expansion plan for commencing new grocery store in five different locations so that they can reach out to large customer and provide service to them with their different products (Pagla & Brennan, 2014). Moreover, the business is planning to improve their efficiency level in order to enhance their performance level and providing quick and prompt service to their customers.
The business development team is required by the entrepreneur so that they can provide information about the new market opportunities and new information system that can help in improving the business operation. The team can help the business in knowing the number of competitors that would be present in other five locations where the grocery store wants to expand their business (Paswan et al. 2012). Moreover, the services requirement can be known that would be beneficial for improving efficiency.
Decision Process Improvements
In order to enhance the decision process, the owner of grocery store can hire expert personnel that can guide them to plan the strategy or improving the previous or existing system so that its benefit can be carried forward and unproductive element can be ignored. Moreover, the expert can help in designing the store in much effective way that can attract and please the consumers (Singh & Koshy, 2012). Therefore, for commencing the operation, the business may require cost for hiring expert.
Customer Relationship Database Design
The customer relationship database is important as the business can be able to track the total number of customers. Therefore, for this purpose the business may require computer system in their premises in all different location so that employees of the business do not have to remember the details of the consumers. Moreover, the products, order details, invoices, etc can be known through database (Sribnyak, 2012). Therefore, it can increase the efficiency and accuracy of the business in providing fast service to customers. On the other hand, it can decrease the work load from employees that can help in engaging the effort of workers in more productive way.
Figure 1: Customer Relationship Database
Therefore, it can help the grocery business to know the number of customer that buys the product from the store maximum number of times. Thus, business would need number of tech system that can monitor the move of the customers as well as employees. On the other, sales and inventory can be effectively tracked which can help in knowing the number of sales for each week, month or year and requirement of inventory can be also known.
The budget is essential for the business so that they can finance their operation in order to function effectively in different locations. The project budget can help in knowing different expenses that may be required for implementing new information system (Stone, 2012). Therefore project budget is crucial so that whole new business can be set up and can be presented to customers in new form. Therefore, it can increase the presence of the business in market.
|
Particulars |
Amount |
|
Office Rent |
$5000 |
|
Supplies |
$1500 |
|
Utilities |
$300 |
|
Postage |
$100 |
|
Taxes |
$100 |
|
Professional Fees |
$10000 |
|
Repairs and Maintenance |
$15000 |
|
Advertising |
$3000 |
|
Supplies (for specific projects) |
$2000 |
|
Assistants (for specific projects) |
$2500 |
|
Travel (for specific projects) |
$5000 |
|
Insurance |
$10000 |
|
Legal Fees |
$12000 |
|
Fixtures and Equipment |
$20000 |
|
Decorating and Remodeling |
$12500 |
|
Computer System |
$25000 |
|
Training Expenses |
$11000 |
|
Installation Charges |
$9000 |
|
Starting Inventory |
$20000 |
|
Research and Development |
$10500 |
|
Development team |
$15000 |
|
Consultants |
$5000 |
|
Total Projected Project Budget |
$169500 |
|
Available Cash |
$89500 |
|
Required Loan |
$80000 |
Therefore, it can be observed that, grocery business has $89500 available cash and in order to fund their expansion plan business require further $80000 capital that can help in setting up the store in five different locations.
Explain project plan: The owner of the grocery store has to inform their stakeholders about the plan including the budget, schedule, risks, building specifications, etc so that ample support can be gained from the stakeholders. The road map of the project has to be discussed along with the cost. On the other hand, the performance measure has to be taken in account in order to know whether the project is carried in expected manner or not (McKayâ€ÂNesbitt et al. 2012).
Define Roles and Responsibility: The business can assign task to respective personalities such as tech expert can perform the task of arranging system in the store and installing it and monitoring the performance of system. On other hand, market researcher can help in providing information about the location feasibility and complexity of the location (Pagla & Brennan, 2014). Therefore, it can be effective for the business to take decision before operating in the chalked out location.
Develop Scope Statement: The business may need to deliver the advantage of the project to its stakeholders. The benefit that can be gained such as increase in sales, better working environment, less workload, handful of customers, etc. has to be stated so that much need support can be received from stakeholders (Kursunluoglu, 2014). Therefore, it can be effective for the business to taste success from different locations.
|
Task Name |
Duration |
|
Planning |
5 days |
|
Analysis and Design |
6 days |
|
Project and Assign Staff |
2 hour |
|
Arrange Travel for technology acquisition |
1 hour |
|
Business Review |
1 day |
|
Strategic Orientation |
1 day |
|
Cost Analysis- Baseline Estimation |
1 day |
|
Process Review |
25 days |
|
Requirement Phase |
|
|
Requirement Detailed |
24 days |
|
Business System Requirement |
33 days |
|
Retail Requirements |
24 days |
|
Design delivered phase |
36 days |
|
System design |
42 days |
|
System Testing Phase |
55 days |
|
Data Preparation and Cleansing |
98 days |
|
Development |
33 days |
|
Testing |
32 days |
|
Training |
25 days |
|
Perform Business Activities |
8 days |
Table 1: Project Plan
4. Conclusion
The whole report represented the proof why the business required loan. The business wanted loan to install new information system into their new medium sized business. The grocery store was facing problem due to old business activities and they wanted to upgrade their system with modern technology that can help in increasing their efficiency and provide better service to the customers. On the other hand, the installing new information system, the business can be able to track and keep the record in much safer way and they can easily access the database to know their growth. Moreover, the business required loan as the business falling short of $80000 capital to finance their business process so that they can start their activities in five different areas. Therefore, the business can be able to meet their excess expenses and commence their business.
References
Kursunluoglu, E. (2014). Shopping centre customer service: creating customer satisfaction and loyalty. Mrkting Intelligence & Plan, 32(4), 528-548. doi:10.1108/mip-11-2012-0134
McKayâ€Ã‚ÂNesbitt, J., DeMoranville, C., & McNally, D. (2012). A strategy for advancing social marketing. Journal Of Social Marketing, 2(1), 52-69. doi:10.1108/20426761211203256
Pagla, M., & Brennan, R. (2014). The development of brand attitudes among young consumers. Mrkting Intelligence & Plan, 32(6), 687-705. doi:10.1108/mip-08-2012-0077
Paswan, A., Guzmán, F., & Blankson, C. (2012). Business to business governance structure and marketing strategy. Industrial Marketing Management, 41(6), 908-918. doi:10.1016/j.indmarman.2011.10.011
Singh, R., & Koshy, A. (2012). A new conceptualization of salesperson’s customer orientation. Mrkting Intelligence & Plan, 30(1), 69-82. doi:10.1108/02634501211193921
Sribnyak, O. (2012). Mini Cooper: Current Marketing Strategy, Digital Marketing Approach, the Brand & Ethical Values. Bulletin – Prague College Centre For Research And Interdisciplinary Studies, 2012(2). doi:10.2478/v10284-012-0001-3
Stone, M. (2012). Reflections on a life in database marketing. Journal Of Database Marketing & Customer Strategy Management, 19(4), 214-218. doi:10.1057/dbm.2012.27
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