Book Land: - Books $ School supplies store.
Business Plan.
BOOK LAND
Books & School supplies store.
Prepared by: -
Course: -
1. Sumayah AL-Mesned-201302048.
2. Fatimah AL-Omair- 201301037.
3. Abeer AL-Musalami- 201300399.
4. Lubna AL-Momen- 201300133.
5. Nouf AL-Turki- 201300515.
Leadership $ Teamwork.
Section: 201.
Instructor: DR. Runna AL-Ghazo.
6. Najla AL-Hashim- 201101410.
Assignment: -
Creating a Proposal Using Work Groups.
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Book Land: - Books $ School supplies store.
Business Plan.
Introduction
Prince Muhammad bin Fahad university students are in desperate need for a book
store on campus. My team and I have decided to make a business plan suggesting to open
a book store that supplies all the students’ needs whether they are pens, notebooks,
calculators, pencils, and electronics for engineers, and even designing equipment for
interior designers. The International Studies Association suggested that there are a couple
of steps required on putting together a great working group and they are as follows: set up
your team, choose your sections, define your goals, craft your agenda, develop guiding
questions, dine your technical needs (ISA, 2014). It is important for students to develop
knowledge about creating a business proposal in the work force, how to work in teams
using the DAPEE model, dividing tasks, following a timetable, and evaluating their work.
This report will be covering a general explanation about the DAPEE model, project
details, analyzing the project using SWOT analysis, planning the solution, executing the
plan, and finally evaluating the results.
The DAPEE Model
When it comes to getting to the bottom of a problem within the group, there will be
steps that group members and their leader will have to follow and consider. DAPEE is the
essential formation of a dilemma answer plan which has five components. DAPEE refers
to Define, Analyze, Plan, Execute and Evaluate. When it comes to the first step it would
be Define, as a group we have to define the problem or the project, and goals. After
defining the problem, the group will have to analyze the problem which is the next step
within the DAPEE model, whereas Cannon & Griffith (2009) mentioned that they have to
“Carry out a SWOT analysis of the project (strengths, weaknesses, opportunities, and
threats)” where it would ease up the analyzing part of the project.
After Defining and Analyzing the problem the group members will have to Plan, Plan
the Solution or Strategy, where they will have to divide the work and assignments for
each and every member of the group to have their work done and achieved nicely and
professionally. When it comes to the third step of the DAPEE model, it would be
Executing plan, where the group will have to define when they will gather together to
check on each other’s’ work and progress. Lastly there will be the Evaluation, in this step
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Book Land: - Books $ School supplies store.
Business Plan.
the group will have to evaluate what happened with them in their previous steps and
negotiate about the problems that the group faces and how they can deal with it in the
future.
The Project
Planning the project is one of the hardest bits in the overall strategy of a business.
It calls for proper management skills as well as a first class type of hierarchical structure.
For Books Land store, our policy is outstanding. Effective, efficient and offering
continuous supply of stationery within the campus surroundings is a policy that has to be
maintained throughout the business lifecycle. To have this policy implemented Books
land management has come up with an electronic system that will be linked to every
supplier offering stationery hence improve connections between us and the suppliers. In
cases where stock needs to be replenished an automatic message is sent to the suppliers
and later the suppliers act as supposed. This will make sure no stocks outs will ever exists
hence no day our customers will ever miss books or essential learning materials.
Implementation or execution will also involve specifying the geographical location of
the business. Books land will be within the school’s premises therefore this means
negotiations have to be prepared and also have to be attended to. Books land management
will meet with the respective authorities within the school and negotiate for a room to
handle their business. A win-win type of negotiation will be highly encouraged whereby
the campus as well as the business will benefit from each other (Wan, Li, & Li, 2011).
Systems will also have to be put in place and the basic idea will be to acknowledge
technological advances in our business. A good example will be encouraging the use of
e-commerce for loyal and trusted customers since this will improve our daily business
transactions as well as reduce our paperwork. It will also keep the employees motivated
and ready for work.
Analyzing the Project
When it comes to SWOT analysis, it is a perfect analyzing model to break out the idea
of our business. Albert (2005) defined SWOT an investigation (then again SWOT
framework) is an organized arranging system used to assess the qualities, shortcomings,
opportunities and dangers included in a task or in a business wander. SWOT analysis
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Book Land: - Books $ School supplies store.
Business Plan.
includes the following: Strengths, weaknesses, threats and opportunities. We could
already predict how this business will be successful as for the following explanations:
The first reason is that it saves time. Having a supply bookstore will prevent students
from going back and forth into their class-mates to rent from them school supplies, also
students who are majored in Interior design can purchase their course supplies and work
on projects faster. Second reason is spread of word. If famous bookstores hear about a
university opening up a library supply it will attract partnership and thus, expanding the
business furthermore in the future. Third is that it will work as a subside, since it’s going
to be a book store supply, the government will work in making the items cheaper for
students hence, less financial expenditure for students. Fourth, no competition since it’s
going to be the only book store that provides school supplies for students around campus.
Moving into weaknesses. The first weakness can be seen as having difficulties into
transporting the supplies from the city to the university since the location of the college is
far. Second, is the difficulty in finding labor who are willing to work in a faraway
bookstore unless the payment is convenient. Third, supplying the items on time can also
be a problem due to the distance. Fourth is that the customers will only be students and
maybe instructors, so the turnover will be somewhat unfavorable.
However, the opportunities for this business is plenty. First, Famous bookstores will
be interested to join into partnership and it might expand in the later future. Second, it can
also be an opportunity for PMU to make itself another income other than the university
itself, by being an independent business. Third, this business idea might influence other
universities into opening their own book store on campus. Forth, if the book store became
successful they can expand it to selling electronics as well such as laptops, mobiles,
tablets…etc.
Threats can still be at hand. Lack of staff due to distance can be the first threat which
will lead to the loss of business. Also, rental can be increased by the college since it’s a
privet university, which also might lead to closing the business later on, and other
bookstore business such as Jareer and AL-Obaikan might open when they hear about how
successful the bookstore business is on campus.
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Book Land: - Books $ School supplies store.
Business Plan.
Planning the Solution
In the first place, we isolated the undertakings into three sections. Each one section
will be allotted to one essential part and one reinforcement part of the gathering. As
indicated by table 1(Task Assignment & Deadlines), managing and arranging with PMU
as to our business will be selected to Najla and reinforcement will be Sumaya. All the
legislature affaires and getting the right paperwork will allotted to Nouf and the
reinforcement is Lubna. Money, human assets, and all cash matters and will be allocated
to Abeer and the reinforcement is Fatimah. When paperwork is finished, Najla and
Sumaya will be in charge of managing suppliers and marking supply contracts. The
arrangement is to have the business up and running inside one year, which is the start of
2015. The reason is that the target opening date will be a critical date, which is January 1,
2016. Nouf and Abeer will verify that all PMU personnel and workers are prepared and
prepared to utilize the new framework utilizing a preparation framework before the go
life date on November 1. The arrangement is to have business operational one month
prior to the opening date to verify no astonishments on the opening. The group has set a
reinforcement arrange just in the event that the business face challenges. The
reinforcement arrangement will be actuated following 18 months if the business does not
give 100% benefit. A pointer will be set from the earliest starting point to screen the
source and the estimation of benefits.
Table 1 (Task Assignment & Deadlines)
Name
Task
Deadline
Najla
Submit business proposal
Jan-01-2015
&
Assign business location
Jan-15-2015
Sumaya
Customers requirement
Feb-15-2015
Store needs and requirements
Feb-30-2015
Opening preparations
Mar-25-2015
Finance
Apr-20-2015
&
Set up budget
May-30-2015
Fatimah
Logo & motto
Jun-15-2015
Staff uniform
Jun-30-2015
Abeer
5
% Completed
Remarks
Book Land: - Books $ School supplies store.
Lubna
&
Nouf
Business Plan.
Staff
Jul-30-2015
Staff transportations
Aug-15-2015
Government license
Sep-15-2015
Identify potential suppliers
Sep-30-2015
Submit requirement forecast
Oct-20-2015
Signing contracts
Nov-15-2015
Brochures
Nov-25-2015
Business supply catalogue
Dec-20-2015
Advertisements
Dec-30-2015
Opening perpetrations
Jan-01-2016
Executing the Plan
The reporting structure is also a section that will need to be looked at thoroughly. No
business thrives without a firm reporting structure no matter how small the business is.
To execute this, we as the Books land firm have come up with an organizational structure
that states who the managers will be in the respective organizational departments. Each
and every person or employee will be entitled to reporting specific issues to a given
person. Example can be in case financial issues may arise such as delay in payments,
methods of payment or even disbandment of funds so as to procure stocks, Fatima will be
held accountable as well as her senior Sumayah. Matters concerning employees’ social
welfare or even staff recruitment and training will be handled by Sumayah and Fatima.
Also the organizational structure rigidity will not be left out. Ideas from staff members
will be highly appreciated and not looked down upon.
Constant monitoring and measurement of performance to ensure that we stick to our
business plan will be highly implemented. Monitoring and measurement will be executed
through a number of simple ways. One of them will be the use of indicators showing
timelines and deadlines. These dates will be adhered to on a strict basis and any
alternations will be reported prior the check-ups. Performance will be measured in
percentage form in order to have accurate statistical data. The original plan will not be
subject to changes unless immediate and urgent action is to be taken but the plan will be
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Book Land: - Books $ School supplies store.
Business Plan.
considered as a fluid plan for example, it can be changed over time due to the ever
changing market trends.
Evaluating the Results
The most common issue the group might face is misunderstanding, which will cause a
problem with accomplishing the tasks assigned for each team member. The leader and the
team members agreed to meet twice a week to develop the group communication skills
which will maintain group cohesiveness and it would give the team members a boost to
bond. Social loafing is not going to be a problem in our team, because each team member
will update the leader regularly about their assigned task and the completion percentage.
Additionally the group leader will keep up positive correspondence in normal bases and
maintain the energy of the group. (Williams, 2012)
Conclusion
In conclusion, the absence of school supplies can be hazardous for students. College
students are sometimes in need for instant solutions (buying from a bookstore within
campus), so a book shop business inside PMU facilities will solve such issue and that will
provide students the sense of relief. The group has analyzed and used the DAPEE as a
part of request to tackle PMU tenacious issue with its school supplies. Using a worldwide
critical thinking device, for example, the DAPEE model gave this arrangement force and
quality. The group additionally used an alternate universal venture investigation
instrument SWOT which investigated a more extensive perspective of qualities,
shortcoming, open doors, and dangers of our business. This proposal is a superb open
door for both PMU and entrepreneurs and profit will be ideal.
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Book Land: - Books $ School supplies store.
Business Plan.
References
1) Humphrey, Albert (December 2005). Consulting”. RI Alumni Newsletter (SRI
International).
2) Williams, R. (2012). How Teamwork Can Damage Productivity. Retrieved
December 19,2014 from http://www.psychologytoday.com/blog/wiredsuccess/201203/how-teamwork-can-damage-productivity
3) Guidelines for developing effective working group proposals. (2014). Retrieved
from International Studies Association website:
http://www.isanet.org/Help/Knowledge-Base/ID/70/Guidelines-for-DevelopingEffective-Working-Group-Proposals.
4) Cannon, M. D. & Griffith, B. A. (2009). Effective Groups. New York, USA:
Pearson.
5) Brenes, E. R., Mena, M., & Molina, G. E. (2008). Key success factors for strategy
implementation in Latin America. Journal of Business, 61(6), 590-598.
6) Slater, S. F., & Olson, E. M. (2001). Marketingʼs contribution to the
implementation of business strategy: An empirical analysis. Strategic
Management Journal,, 22(11), 1055-1067.
7) Teece, D. J. (2010). Business models, business strategy and innovation. Long
Range Planning, 43(2-3), 172-194.
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