ENT300 Business PLAN Report PDF

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Summary

EXECUTIVE SUMMARYOur business is based on partnership that are consisting of four members who hold the important company positions such as General Manager, Financial Manager, Marketing Manager and Administrative Manager. Our business capital is RM300 000 whereas we contribute RM75 000 per person. We...

Description

ENT300/BUSINESS PLAN EXECUTIVE SUMMARY Our business is based on partnership that are consisting of four members who hold the important company positions such as General Manager, Financial Manager, Marketing Manager and Administrative Manager. Our business capital is RM300 000 whereas we contribute RM75 000 per person. We decided to put our product’s name as Truly Malaysia Scarves and it is a new product that not even exist in the market yet. By sharing the capital we hope and want to make it possible for Truly Malaysia Scarves to reach higher consumer demand. Our business is expected to be established in 2019 and our vision is to be the first design in Malaysia to have an iconic Malaysian building printed on scarves and to create a benchmark in the industry’s quality standards by having a unique design to spread our scarves to attract other vendors to deal with us.

Since most of Malaysians are Muslims, all women are obliged to cover their aurah by using scarves because scarves is an alternative to cover their aurah. The new design that we produced is intended to embody the true spirit of Malaysia. Furthermore, the nation focusing on developing countries could not have a better time to set patriotism on fire.

Back to our new product, Truly Malaysia Scarves come with different design that have symbolic of each country and we used different materials for our products to make the scarves look interesting and suitable for any occasion to be styled. The light texture gives our scarves the opportunity to become one of the marketable products as people love simple things but with it they can still look elegant. We are also the first company that come out with design that represent the symbolic building of all country in Malaysia.

Because of the new innovation in the design of the scarves, we expect to be more developed in the near future, the demand will not only increase during the festive season, but it could be a new daily outfit. This will provide us with more support to make our product more stable and long-term profitable.

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ENT300/BUSINESS PLAN 1.0

INTRODUCTION

1.1

NAME OF THE BUSINESS

The name of our company is Truly Malaysia Scarves. We are using Truly Malaysia Scarves as the name of our company because of the scarves unique design. What we try to show is that we bring different colours of scarves and we also put the proud element in scarves like Pulau Pinang Bridge, KLCC and Mount Kinabalu as a resident of Malaysia. We have our own store that located at Putrajaya, Wilayah Persekutuan Putrajaya. With the proud elements in the scarves, we hope people will attract and consume our product and come to our store. . 1.2

NATURE OF BUSINESS

Clothing is our main activity. But as we are in Malaysia, we concentrate more on scarves. We produce only iconic symbols of Malaysian scarve design with different fabric types. Our store also offers delivery services to maintain the quality of the scarves.

1.3

NAME OF PARTNERS

Four partners are founded in this business. They are Mr Muhammad Syukri Bin Mohd Radzi as Chief Executive Officer (CEO), Ms Nursyahira Ilyana Bin Azman as Financial Manager, Ms Farah Farizah Binti Ahmad Asri as Marketing Manager and Mr Syakir Aiman Bin Supian as Administrative Manager.

1.4

DATE OF BUSINESS COMMENCEMENT

On 1st April 2019, we registered our company. Our company business will start running on 1st July 2019. So we still have time to do our business preparation.

1.5

FUTURE PROSPECTS OF THE BUSINESS

We want to be the first consumer choice in the fashion industry in Kuala Lumpur throughout Malaysia as well as our future prospects. We are going to produce the best quality and service for our business. In order to achieve sustainable growth and profitability, we will continually

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ENT300/BUSINESS PLAN improve all aspects of our business in order to meet the needs of present generations and also sustain long-term success. And also we are going to make sure our products follow the trends.

2.0

PURPOSE OF THE BUSINESS PLAN

Business plan is a set of documents prepared to summarize the marketing, operational and financial goal for the near future by the management of an organization. To start a business, it involves a step-by-step guideline. It also helps us to generate ideas for improving our organizational goals strategies. Business plans are therefore essential for a new company such as Truly Malaysia Scarves as it helps us maintain our business locally or internationally.

2.1

TO ASSESS THE PROGRESSIVE AND EXPANSION OF A PROJECT

Our company will use the information contained in the business plan to set a performance target, to guide the decision-making process according to the operations and to evaluate our staff in terms of their ability and effort to achieve our business plan goals. Our company's achievements can be determined in terms of our goals including sales, spending, time frame and strategic direction. Business plan assists a business manager or entrepreneur to determine our company's business problems.

2.2

AS A GUIDELINE IN PROPOSING A BUSINESS FOR THE MANAGEMENT

Business plan will serve as our guidelines for establishing, planning, managing, and controlling our business management, budget, financial forecast, strategies, target market and long-term goals. In addition, our organization is known as a master plan to calculate the effectiveness of the Truly Malaysia Scarves business undertaking. It is essential for us to have a knowledge of how to effectively use a business plan to produce scarves. Our company followed a business plan that was made. Therefore, we have a higher chance of success while enjoying staying focused on the goals of business growth, mission and organization.

2.3

TO ASSIGN BUSINESS RESOURCES EFFICIENTLY 3

ENT300/BUSINESS PLAN

Business plan plays an important role in allocating resources to achieve our organizational goals through our business. For example, we will review our business plan when our company develops a new product. It is important for us to be clear about how to effectively allocate our resources. We must ensure that our business plan provides sufficient resources such as textile supplies, idea and allocation to achieve the goal of being first in Malaysia to introduce Malaysia's iconic elements through scarves.

3.0

BUSINESS BACKGROUND 4

ENT300/BUSINESS PLAN

Name of the Business

Truly Malaysia Scarves Jalan P11 E/5 41000 Putrajaya, Wilayah Persekutuan

Business Address

Putrajaya Malaysia

Website

www.trulymalaysiascarves.com.my

Email

[email protected]

Telephone Number

013-8215134

Form of Business

Partnership Business

Main Activity

Clothing

Date of Commencement

1 July 2019

Date of Registration

01 April 2019

Registration Number

105015-k

Name of Bank

CIMB Berhad

Bank Account Number

4618014266

Table 3.1 Business Background

3.1

LOGO AND MOTTO

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ENT300/BUSINESS PLAN

Company

The picture of Penang Bridge : Represent one of Malaysia iconic

Motto : Represent Malaysian’s pride towards

Figure 3.1 Logo and Motto

3.2

VISION, MISSION AND OBJECTIVES

3.2.1 VISION

Our vision is to be Malaysia's first design of scarves with images of iconic building in Malaysia and by having a unique design create a benchmark in the industry's quality standards.

3.2.2 MISSION

Our mission is to ensure that our products are of the highest quality through textile, picture design and the best customer service. In order to achieve sustainable growth and profitability, we will continually improve all aspects of our business in order to meet the needs of present generations and also sustain long-term success. And we are going to make sure our products follow the trends.

3.2.3 OBJECTIVES

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ENT300/BUSINESS PLAN a) To be a well-known scarves shop by all people in Malaysia b) To give the best service and have good relationship with the customers c) To produce the products that can fulfil our consumer’s taste and their desires d) To create unique design for our products that customers can accept e) To compete with others competitors in the industry

3.3

ORGANIZATION CHART

General Manager

Operation Manager

Financial Manager

Marketing

Administrative

Manager

Manager

Structural

Promotion

Fabricator

Personnel

Machine Operator

Quality Control Inspector

Shipping & Receiving Person

Figure 3.2 Organization Chart of Truly Malaysia Scarves

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Designer

ENT300/BUSINESS PLAN 3.4

LOCATION OF THE BUSINESS

Figure 3.3 Map of Location

Truly Malaysia Scarves’s physical store is located at Jalan P11 E/5 41000 Putrajaya, Wilayah Persekutuan Putrajaya Malaysia. The location selected can be considered strategic as it is close to residential developments such as Taman Saujana Hijau and Kompleks Rakyat Putrajaya. It is also close to the Pusat Kejiranan Presint 11 swimming pool, so it can attract a lot of people to pass by our place and visit our physical store. It is also convenient as it is closest to schools, shops, restaurants, banks, bus stops and workshops.

4.0

PARTNERS BACKGROUND

Figure 4.4 General Manager

Name of Partner

Muhammad Syukri bin Mohd Radzi

Identity card Number

980221-14-6107

Permanent Address

No 29 Jalan dc 2/17 Desa Coalfileds 47000 Sungai Buloh

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ENT300/BUSINESS PLAN

E-Mail

[email protected]

Telephone Number

013-8215134

Date of Birth

21-02-1998

Marital Status

Single

Academic Qualification

Diploma in Business Studies Bachelor of Business Administration (Hons) Business Economics

Course Attended

Economics Entrepreneurship Good communication both written and oral Strong leadership and organizational skills Capable for analysing and solving problem Supervisor of CK Rahim Junior Assistant Desinger of Fareeda

Skills Experience

General Manager of Truly Malaysia Scarves

Present Occupation

Table 4.2 Details of Chief Executive Officer

Figure 4.5 Financial Manager

Name of Partners Identity card

Nursyahira Ilyana binti Azman 980403-14-6378

Numbers Permanent

6 Jalan 1/3 Taman Kajang Impian,

Address

43650 Bandar Baru Bangi, Selangor

E-Mail

[email protected]

Telephone Number

012-6805052

Date of Birth

03-04-1998

Marital Status

Single

Academic

1. Diploma in Business Studies 9

ENT300/BUSINESS PLAN 2. Bachelor of Business Administration (Hons)

Qualification

Finance

Course Attended

Corporate Finance 1. Skills in use Microsoft Office 2. Calculating, budgeting and data mining

Skills

skills 3. Doing works with timely manner 1. Accountant of Elyashazleen

Experiences

2. Assistant Financial Manager of Leeyanarahman

Present

Financial Manager of Truly Malayia Scarves

Occupation

Table 4.3 Details of Financial Manager Figure 4.6 Marketing Manager

Name of Partners Identity card

Farah Farizah binti Ahmad Asri 960719-06-5736

Numbers Permanent

38 Jalan 6/6D Sek 6 Bangi Lakehill Villas 43650

Address

Bandar Baru Bangi Selangor

E-Mail

[email protected]

Telephone Number

011-27876684

Date of Birth

19-07-1996

Marital Status

Single

Academic Qualification Course Attended Skills

1. Diploma in Business Studies 2. Bachelor of Business Administration (Hons) Marketing Marketing Entrepreneurship 1. High level confident 10

ENT300/BUSINESS PLAN 2. Responsible for all the tasks assigned 3. Exceptional presentation and public

Experiences Present Occupation

speaking skills 1. Assistant manager of Minaz 2. Store Manager of Uniqlo Marketing Manager of Truly Malaysia Scarves

Table 4.4 Details of Marketing Manager

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ENT300/BUSINESS PLAN

Figure 4.7 Administration Manager

Name of Partners Identity card

Syakir Aiman bin Supian 980727-08-5073

Numbers Permanent

PT 4112 Kampung Tersusun Simpang 4 32000

Address

Sitiawan Perak

E-Mail

[email protected]

Telephone

012-5468192

Number Date of Birth

27-07-1998

Marital Status

Single 1. Diploma in Business Studies

Academic

2. Bachelor of Business Administration (Hons)

Qualification

Human Resource Management

Course Attended

International Entrepreneurship 1. Computer skills

Skills

2. Knowledge of labour laws

Experiences Present Occupation

3. Experience with Internet and editing skills 1. Assistant Retail Manager of H&M 2. Human Resource Manager of Jakel Administrative Manager of Truly Malaysia Scarves

Table 4.5 Details of Administrative Manager 5.0

MARKETING PLAN

A marketing plan is the operational document for outreach and advertising for businesses to generate leads and reach their target market. A marketing plan brings together all the campaigns that are to be carried out over a period with additional information on how they are to be 12

ENT300/BUSINESS PLAN measured and monitored. It is also a comprehensive document or blueprint outlining a marketing and business advertising effort for the coming year. Business activities involved in achieving specific marketing goals within a set timeframe can be described. A marketing plan contains a description of a company's current marketing position, a discussion of the target market and a description of the marketing mix that a company will use to achieve its marketing objectives.

In our company, Truly Malaysia Scarves we have our own marketing manager which responsible to plan market strategies before we start to launch our products to the customers. It is really important for the marketing manager to make sure that the marketing plan is manage in the systematic ways so that our company can run our business smoothly. Thus, our marketing manager needs to survey the business area to identify the suitable area to locate our business and also identify the competitor’s strength and weakness. There are many ways in marketing plan, but we had decided to use different plan form other companies to market the product.

5.1

VISION OF MARKETING

By the 2022, Truly Malaysia Scarves will be recognized as one of the best scarves brand for small businesses in Malaysia

5.2

MISSION OF MARKETING

Truly Malaysia Scarves will try to get their trusted marketing consultant to help our company succeed by learning, incorporating and executing marketing strategies and programs that take their business from mediocre to wonderful.

5.3

GOALS OF MARKETING

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ENT300/BUSINESS PLAN By December 2021, Truly Malaysia Scarves create launch and sell through online such as official website or Instagram and marketing 50 per day copies of an information product that simplifies developing a marketing plan for small business.

5.4

MARKETING OBJECTIVES

Truly Malaysia Scarves is supplying the company and producing new unique product scarves that are essentially from the scarves. The scarves are actually made for multipurpose use and this type of product provides users with the convenience of wearing it anywhere and anytime. The uniqueness of the product is user can wear it easily with the shape of our scarves and very fashionable. Marketing objective is very important in any organization. Truly Malaysia Scarves have our own objective that is very clear, measurable and achievable.

a) To increase number of sale by company for 30% per year. b) To ensure our product achieve customer needs and satisfaction. c) To gain more profit by improving marketing strategy. d) To create a high confident level for every hijab woman. e) To expand our business or even franchising our store. f) To overcome other competitors in the area by using a well organize business strategies. g) To gain respect and trust from our customers by fulfilling their needs and wants. h) To be able on paying back the bank loan and overcome out initial cost within 3 years.

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ENT300/BUSINESS PLAN 5.5

ORGANIZATION CHART FOR MARKETING DEPARTMENT

Marketing Manager

Promotion Personnel Figure 5.8 Organization Chart of Marketing

5.6

LIST OF MARKETING PERSONNEL

POSITION

NUMBER OF PERSONNEL

Marketing Manager

1

Promotion Personnel

2

TOTAL

3

Table 5.6 List of Marketing Personnel

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ENT300/BUSINESS PLAN 5.7

SCHEDULE OF TASK AND RESPONSIBILITIES

POSITION

TASK & RESPONSIBILITIES

Marketing Manager



Do promotion to introduce our company to public



Responsible to establish target market strategy and attempt to achieve target



Responsible to report to the General Manager regarding the performance and activities of Marketing Department

Promotion Personnel



Record all order from the customers



Promoting our products to the customers



Prepare advertising and promotional material to earn more sales income



Person-in-Charge for updating the e-mail and our website

Table 5.7 Schedule of Task and Responsibilities

5.8

SCHEDULE OF REMUNERATION 16

ENT300/BUSINESS PLAN

MONTHLY POSITION

QUANTITY

SALARY (RM)

EPF 5%

SOCSO 7%

(RM)

(RM)

TOTAL

Marketing Manager Promotion Personnel TOTAL

1

2970

148.5

207.9

3326.4

2

1970

98.5

137.9

2206.4

3

4940

247

345.8

5532.8

Table 5.8 Schedule of Remuneration

5.9

PRODUCT AND SERVICE DESCRIPTION

Truly Malaysia Scarves prod...