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Victoria University of Bangladesh Our Gateway to success… Presentation for Introduction to Business… Topic: Planning for new business. We are:. Shamim Ahmed 110711241 Zahidul Islam 110711301 Murad Ahmed 110711121 Rafiqul Islam 110711081 Lutfor Rahman 110710661
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Victoria University of Bangladesh • Our Gateway to success… • Presentation for Introduction to Business… • Topic: Planning for new business. We are: • Shamim Ahmed 110711241 • Zahidul Islam 110711301 • Murad Ahmed 110711121 • Rafiqul Islam 110711081 • Lutfor Rahman 110710661 • Sukdeb Biswas 110711221 • Tohfatun nesa 110711131 • Sadia Islam 110711321
Executive summery… Business Idea : Superstore Name of business : HUT Theme of business : HUT may full fill your needs… Product : All kind of household daily needs (meat, chicken, vegetable, fish etc) stationary, toiletries, gift item and other items. Specialty : Web oriented & general services, online marketing system, quality, home delivery services, prices etc and (chicken, vegetable, meat, special packaged milk come from own firm.)
Situation analysis:- Competitive force… In Bangladesh there are lot of superstore now. But in firmgate there are not any renowned superstore. Beside this we must think about those local business holders whose are doing business in that area. They will be our real competitors. But we think that our specialty and business strategy will be able to overcome from that situation. We will provide all necessary items in a shop, our product will be fresh and reasonable and our web based services will be able to compete with those small business holders and with other super store also. Beside this our staffs and the total decoration will be friendly and exclusive so our customers will judge that cause.
Economic forces… • Economic force is one of the most important forces of all. Our all plan and preparation will be lost if we unable to provide economic assurance for our business. We have to remember some issues for our economic assurance. Such as:- • Buying power of customers. • Financial source for our business. • Current financial situation of our country. • Political misunderstanding may create affect to economy and to our organization also. • We are taking 40% of loan so it may be difficult to pay for that loan.
Legal & regulatory forces… In every country there are lots of rules & regulations for business and ours is a partnership business so we have to face huge legal rules and regulation for new business. According to the partnership act 1932 we will make agreement for our business and abide all regulations of Bangladesh government. After all of that we will make our own constitution for our business. All of our business holders, staffs and employee must follow that rules. Now a day BSTI is controlling every products quality hardly so it may be a difficulty to maintain quality and expiry date for our frozen items.
Technological forces… • As a super shop our business may not face much technological forces but for our web based services and for our own firm we may have to face some problems. We came to know that in web oriented sales system sometimes misuse of technology happen. • Such as:- • Our customers may create problem with ordering products. • We are going to supply our own firm’s milk so it may be difficult to collect milk for technology. • For proper growth of our cattle we must take help from firming technology. • For the better growth of our organization we may face internet technological problem.
Social & cultural forces… Bangladesh is a Muslim religious based country but there are also some other religion in this country. Beside this we have a lot of social and cultural activities in our nation. So to organize a business we must have enough knowledge about socio-cultural forces. We must select our product much carefully so that none will be restated for social and cultural difficulty. We will make different type of arrangement for different kind of religious program or social program. We will arrange special food or gift item for special occasion. We may send greetings card to our special daily customers in yearly occasion. After all of that if some kind of socio-cultural difficulty came to our organization we will take decision by discussion with our customers.
SWOT analysis… Strength … HUT, a super shop is going to launch newly at Bangladesh. As a new super shop we can make effect at the super shop market for the others shop. Because we have some strong strengths to challenge others market. Everything fresh Fixed price recommended by the suppliers. All the daily necessities under one roof. All guaranteed Product. Standard quality Product. Computerized billing. Computerized inventory management. Total customer care. Location Parking facility
Weakness of HUT… As a new comer at market we believe we have to face lots of challenges and target to the market, that’s why we are coming to market very strongly. But as new we have a little bit common weakness that we will overcome very soon. It’s not for all customers Newly in market Capital problem No experience
Opportunities for HUT… HUT never makes any confusion to the customer as make other super shop. There are lots of opportunities in here for the customer which is familiar for customers. Cosmetic corner Baby playground Medicine corner Entertainment corner Food court Antique & Apparels Gift & Handicrafts Departmental Stores Jute & Lather Goods Jewellary Showrooms Gift Vouchers Refreshments Flower shop Outlet or Branches
Threats for HUT… Obviously it is true that we are making very strong for the target market, but as new we have to maintaining some rules and system for others. So some others will see HUT as threat as we have some. Other super shop, (as ALMAS, Shop & Save, Meena Bazaar, PQS, ETC., Pacific) Not first mover Dependency Price Additional cost Weak communication with the distributor Partnership Breakup Inflation
Pacific Shop & Save PQS Agora HUT Meena Bazar ETC Nandan Treet Competitors of HUT Competitors for HUT…
Business resource… Financial… • For any business financial resource is another unavoidable part. So we also reflect about it deeply. As a partnership business we will bear similar amount of capital among us. We will provide 60% from our own money and another 40% we will collect from bank loan. • We will collect our financial resource from two types of sources. • Partners own capital • Our total capital is approximately 70,000,000 TK. So for this amount we have to collect 42,000,000 TK. We are 8 (eight) partners so each of us have to bear 5,250,000 TK.
Bank loan… • We need to collect 28,000,000 TK from bank. Bank loan is not an easy obsession. To collect money from bank we will use our firm as mortgage. Our total fixed asset is approximately 36,260,000. So will get loan by using our mortgage as 60%. The loan would be 21,756,000 TK. We need more 14,504,000 TK. Our balance of account on bank will be totally (2,152,500+10,000,000=3,152,500) so we will be able to cover our entire bank loan. If any difficulty comes to get that loan then we will show our machinery assets.
Human resource… For human resource we will collect man power by recruiting new people but for special posts we must select or collect expert and experienced people. We are 8 (Eight) partners now. All of us will work as an employee and also we will be board of director penal member. Our organizational chart as following:-
HUT’s organogram… Board of director
Experience & expertise… We will recruit one IT specialist for our Web related sell services and Web update. Our IT specialist will be an experienced person for web related shopping. For our better financial activities we will also recruit one financial advisor. Financial advisor will be experienced about legal and usual activities of finance. We hope and strongly believe that our span of management will be able to solve all difficulties for our organization.
Business strategy… A. Objectives… To survive in market with competition we must follow some key strategy and we must have some objectives to expend our business. We will make proper communication with our market, customers, and competitors so that we will be able to find the proper strategy to follow. From the very beginning we have some future objectives and strategy also. Those are following: Establish a chain of supermarkets. Each supermarket outlet will have a largest single shop floor. The supermarket outlets will have adequate parking space. The supermarkets will carry wide variety of quality assured products only.
Key strategy for using capabilities and resources… • Without business strategy it will difficult to compete with other competitors. So we will make some strategy to be different. Our business strategies are following: • Develop and promote local products. • To offer a clean, healthy and a friendly environment to customers for shopping. To give customers confidence and establish an environment of trust. Offer better range of quality products. Establish rational prices. Contribute improving living standards.
Executives Salary sheet… We will provide bonus for our employees by justifying their work and experience. We will also provide handsome salary for executives.
Controls and evaluation… If any organization starts plan for new business then their work is finished by controlling. Controlling is the process of evaluating and correcting activities to keep the organization on course. Control involves five activities- (1) Measuring performances (2) Comparing present performance with standards or objectives (3) Identification deviation from the standards (4) Investigating the cause of deviation and (5) Taking corrective action when necessary.
Performance standard & financial control… An organization should measure for working performance. To make good relationship between the superior and subordinates their behavior must be friendly. For example- if we create many games, entertainment then raised employee’s performance. We may increase our profit by make our cost less. For example- We spend huge money for transportation of employees and carry out the product in a year. If we buy two cars for transportation then we may reduce the expenditure and get a high profit. In another term, if we use gas for cars fuel then we will be able to get a high profit for the firm.
Monitoring procedure & performance analysis… • Monitoring procedures • Our monitoring for both product and human will be strong because we decide to employ some supervisors for our firms and one sells head for showrooms staffs’ control. All of them will work under an HRM manager. • B. Performance analysis • We will make some written statement for our performance analysis. We will detect our weakness cruelly and solve them softly.
Conclusion:- Conclusion:- As new businessman we will try to make all of our planning true but there is something out of human hand. It is luck. But we believe that “Man is the architect of his own luck” so we will motivate ourselves to collect confidence to make any quick decision any time.
If you have any question you can ask us ……… • E-mail- hut.dhaka@gmail.com
