Business Plan: Golf Ball Markers

Paper Summary:

This paper explains a business plan presented as an innovative idea for golf ball markers. The paper identifies a significant number of potential customer segments, both individual and company entities and uses two pricing structures, depending on the entity it wishes to sell to and on the volume the customer wishes to purchase.
The author describes an operation and production plan, which includes outsourcing to one of the countries in Eastern Europe, specifically either Romania or Bulgaria. The author states that his company will thus benefit from lower production costs, due to lower wages and administrative costs, while still benefiting from the framework of members in the European Union. Furthermore, the business plan describes a sustainable financial approach, which the author states will allow his company to concentrate on creating the appropriate competitive advantages and building a sustainable market share that that will increase profits in future years. The author also shows a risk evaluation and a profit loss statement for the business.

From the Paper:

"Our production will be entirely outsourced to one of the countries of Eastern Europe, either Romania or Bulgaria, although we are not at the present moment excluding any of the others. There are several reasons for choosing one of these countries. First of all, they have recently joined the European Union in January 2007 and, as part of their accession conditions, they have put in place a legislative framework that makes doing business in these countries similarly simple as in any other country of the European Union. The administrative procedures needed to open a company are still reasonably few.
"On the other hand, Romania and Bulgaria are countries in need of foreign investment and provide cheap, but highly qualified labor. The average salary in Romania is somewhere around 500 euros, which is still very low compared to the Western countries of the European Union. The low salaries that we would pay in these countries are going to significantly decrease our production costs and make us more competitive on the market."

Sample of Sources Used:

• Examining Risk Priority Numbers in FMEA. ReliaSoft. Volume 4, Issue 1. On the Internet at http://www.reliasoft.com/newsletter/2q2003/rpns.htm. Last retrieved on May 18, 2008.
• http://www.sixsigmaspc.com/dictionary/RPN-riskprioritynumber.html.

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