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Business Plan - My Company

In: Business and Management

Submitted By teb79c
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Futbol is the most popular international sport in the entire world but has yet to spread its wings in the United States. Our business is founded on offering a one-stop shopping experience that is ideal for every individual, family, and community looking to immerse themselves in the sporting experience. Family Futbol is a sporting goods and apparel store that caters to the family that is passionate about the sport and dedicated to representing their favorite teams both on and off the field. People all over the world spend most of the year engaged in watching, playing, and living Futbol; it is easy to recognize the demand for a business that will bring popular and rare apparel and accessories to the mass public as well as community youth soccer teams. Since Futbol is a year-round sport in various countries of the world it is critical for Family Futbol to offer merchandise ranging from local youth teams to world national teams alike; this will enhance our sales as well as become a staple in our community. Many shops around the country sell ridiculously priced Futbol merchandise in the form of poorly replicated knock-offs. At Family Futbol, our knowledgeable support staff is available online 24 hours a day 7 days a week to help each member of the family make their dreams of owning official quality fan favorite Futbol gear a reality.

The idea of starting Family Futbol began as a shared love of the sport between a young couple. Together, a partnership was formed that allowed both individuals to contribute skills, resources, and passion for the sport into a thriving business that would be embraced my communities across the country. Each partner brings a specialty to the table in addition to the initial investment of money and resources; as the only two shareholders they stand to achieve wealth as the business thrives yet share accumulated loss should the business fail. One partner has vast knowledge of the history of the game and the plethora of internationally renowned players within it; the other partner brings a strong business sense and keen leadership style that will give Family Futbol the staffing, training, and customer service to entice business nationwide. Our business organization is structured to meet the demands of the community by fostering excellence in customer service, dedication to quality products, and knowing what it means to be a Futbol fan in every sense of the word.

Passion for the business directly correlates to a strong sense of ethics and accountability for the business and all who work within it. In my company, a positive attitude and dedicated work ethic are the fundamental qualities within every team member. It is important that the team is attentive to the needs of each customer and able to either answer or always be able to find an answer to every question a customer may have about our products or our knowledge of the sport itself. In order to enhance profitability, our team will know the importance of relating to the customers in order to bring a sense of comfort to the sale and build repeat business. Disrespecting or mistreating a fellow team member or customer will not be tolerated; this company is founded on the love of the sport and the desire to bring that love to the families who follow it. Each member of Family Futbol must hold themselves and each other accountable or the actions and attitudes that occur during business operation. Taking ownership of one’s job and role as a member of the team will be vital to achieving group accountability. Managers and staff alike will be expected to act with integrity and honesty in each aspect of their job; it is especially important for the management team to exhibit confidence and ethical conduct in order to positively influence subordinate employees to follow suit. All interactions with customers, suppliers, and co-workers will be conducted whilst upholding the utmost professionalism; this will preserve the favorable reputation of the company in the eye of the community. All products obtained and purchased by Family Futbol will pass a detailed and thorough quality inspection prior to being distributed to the sales floor or in the online business storage warehouse; this will reinforce the strong business ethic set forth by our company and build thriving business relationships for long-term success. On the legal side of the business Family Futbol will always work to be compliant with local and government standards and regulations; this will be done with the establishment of a control plan that will be updated and reviewed frequently by management staff in order to maintain a safe and compliant work environment. Since a portion of our business will be conducted over the internet it is critical that our advertising and policies are written by legally sound individuals or businesses that will safeguard our company against potential legal issues and lawsuits. Customers must be protected as well so all sales transactions are to be conducted through reputable companies such as PayPal in order to ensure smooth and traceable transactions between the customers and Family Futbol.

” Just as a company’s structure influences the behavior of its employees and groups, so do the values and norms embodied in its culture.” (Jones, 2007) The culture of a company is a reflection of the company personality and shapes the personalities of the employees within its walls. The values harvested by Family Futbol instill pride in the employees and allow them to come to work each day loving what they do; this enhances morale and directly increases productivity. At Family Futbol, mutual respect and ethical treatment for everyone is the base of our company culture. Our managers embrace the organizational culture of setting and achieving performance based goals and setting a standard of employee engagement and incentive in order to breed a thriving work environment. Accountability, both individual and company-wide, is reinforced on a daily basis to ensure that Family Futbol remains a profitable place of business well as a preferred and reputable place to work. The word team is especially important when considering an ideal culture for any workplace; employee ideas and concerns will be addressed and embraced with professionalism in order to cultivate the ultimate productive team environment.

Family Futbol invests in its employees by recognizing the need for motivation in the workplace in order to bring increased productivity through dedicated and satisfied team members. My company trusts in the expectancy theory which, “argues that work motivation is a function of an employee’s belief that working hard will allow the person to perform at a high level, and that if the person does perform well, he or she will be rewarded for it.” (Jones, 2007) Performance based incentives will be established and communicated to employees; the goals will be achievable yet challenging enough to encourage each employee to perform at a high level and continuously improve. In order to keep the motivation constant, the management team will communicate progress towards achieving goals on a regular basis through posted charts in the facility and monthly communication meetings in which employees can ask questions and provide feedback. At Family Futbol, Leadership is a quality found in every manager as leadership style is one of the most crucial ways to motivate work performance. Managers will give each member of the team the tools they need to perform their job effectively and productively. Strategic organization of staff schedules and the authoritative yet positive vibe given off during delegation of responsibilities will increase accountability and create high morale. When the staff performs efficiently it is a direct reflection on the leadership of the manager; when the team is a success then the business is a success.

The task of selecting staff to successfully drive sales, keep up with demand, and provide stellar customer service for the company is in the hands of Human Resource management. Human resources also has the vast responsibility of adequately training employees and ensuring that their needs are met with regards to benefits, vacations, payroll transactions, conflict resolution, and overall job satisfaction. Training is a substantial part of employee growth and development and is a critical element of my company. Family Futbol offers job training that will enhance product or service knowledge; this training strengthens the employee’s ability to engage the customer and set the standard for outstanding customer service. A productive staff will lead to a profitable operation; it is cost effective to make the employees feel like part of the team both in every department and in the company as a whole. With a loyal staff and a productive work environment the company can decrease turnover, reduce overtime, increase production, and turn a profit that will contribute to employee incentive and allow the company to thrive long-term.

In present day society it is evident that keeping up to date with business technology is the key to ensuring that a company will continue to grow and thrive as technology and the way people use it changes. The online portion of Family Futbol has a dynamic and appealing website that will allow the consumer to easily navigate through inventory and services; this will contribute to the popularity of the company and help us to achieve a high volume of internet based sales to accompany our in-store sales volume. In order to keep up with this internet traffic we have multiple mainframe computers that can handle the large amount of data processed at any given time. Since our facility has different departments we have PC's installed with network software to enhance the sharing of data and company information; it is critical for each department manager to be able to communicate and enter information related to company operations in the system as needed. Family Futbol has transaction processing systems used to enter data on company operations and functions. The data for a review period can be entered, tracked, and updated by HR management to keep employee records up to date; the employees can then use this system to view their information as needed. My company will also use this system to track specific product sales transactions and trends in order history; this gives the management team an idea on which products are generating the most sales and which are contributing to losses. Data entered and recorded into the processing system will be used as a marketing and advertising tool; sales data for our online business as well as our in-store business can be tracked to have a better view of which areas may need to enhance advertising in order to generate more sales. The charts below show an example of how tracking sales data can be explained and used to benefit the business:

1st Quarter January - March – During the beginning months of the year people are content with the merchandise they have accumulated during the previous holiday season and usually do not shop as much which leads to decreased sales.

2nd Quarter April – June – Business begins to pick up a little bit as club seasons come to a close and the transfer window begins to open up for most international club teams. Some players may be traded which makes the demand for their team jerseys and other merchandise increase.

3rd Quarter July –September – Business continues to as the new Futbol club seasons begin and the demand for the new season apparel and accessories become top priority for every member of the Futbol loving family.

4th Quarter October – December - The holidays cause a massive rise in sales as every member of the family is shopping to find the perfect Futbol gear for the people in their lives as well as for their own collections.

Projected Growth in Demand by Quarter

Family Futbol caters to all members of the family; men, women, and children all have a variety of apparel and accessories that are available in-store as well as online.

Operations and materials management (OMM) of Family Futbol are made up of the inputs such as knowledgeable sales staff to interact with customers, detail oriented purchasing staff to ensure timely purchase and delivery of Futbol apparel and merchandise, shelving and racking to line the walls of the facility show room space, advertising posters and window decoration to entice the customers into the business, and an accounting staff to keep the books in line and report profits and losses to the partnership. Family Futbol is a small batch operating system that brings a variety of rare and popular Futbol merchandise to the consumer; customers come into the business expecting a wide variety of teams and player merchandise in various sizes and colors. Inventory is researched and purchased by the purchasing department based on current trends or national/league championships occurring at a particular time. Knowledge of the game and the way Futbol works in various countries ensures timely ordering which can reduce expedite costs, inventory holding costs, and allow Family Futbol to purchase the best inventory for the corresponding season it will be popular. All of this brings Family Futbol a competitive advantage as we are known for carrying hard to find and creative merchandise selected especially for a certain league championship or world cup event.

In order to secure a place as a popular and profitable company in any community you must have a passion for the sales or service you provide as well as the dedication to making personal sacrifices in order for the business to thrive and survive. Family Futbol brings specialty inventory and service to a community that is tired of having to settle for paying high prices for subpar merchandise just to show pride in their sporting team. Success is measured by how effectively a business operation can meet the demand of the consumer while continuously improving; Family Futbol is a one-of-a-kind company that will achieve one-of-a-kind success.

Reference:

Jones, G. R. (2007). Chapter 8: The Structure and Culture of a Business Organization. In Introduction to Business: How Companies Create Value for People. Boston: McGraw-Hill/Irwin.
Jones, G. R. (2007). Chapter 7: Motivating and Managing People and Groups in Business Organizations. In Introduction to Business: How Companies Create Value for People. Boston: McGraw-Hill/Irwin.

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