Free Essay

Communication Is Key to Successful Project Management

In:

Submitted By yahchays
Words 4905
Pages 20
Executive Summary

SEACHANGE TECHNOLOGY PLAN TO RELEASE AN ECO-FRIENDLY SHARK REPELLENT DEVICE WHICH WILL BE KNOWN AS THE SCUBA SHARK SHIELD, A PROMOTIONAL IMAGE CAN BE SEEN ON THE REPORT TITLE PAGE.

Our goal is to achieve 100% customer satisfaction so our focus will be on product quality; the Shark Shield will never fail (excluding battery life). We will be the first company to enter this specific industry so to take advantage of our first mover advantage we will do substantial promotion to gain maximum market share before any competitors arise.

Our demographic is mainly middle-aged with above average income and they spend on average $1300 per year in scuba diving and they prefer quality over value. After conducting a survey it was found that 50% of scuba divers would either definitely buy or possibly buy the Shark Shield. We will be advertising the quality of our product and our target market share is 30% of scuba divers after 5 years.

The sale price of the Shark Shield is $750 including $600 in expenses and a $150 (25%) markup. Underwater camera, underwater propulsion devices and some drysuits cost $2000+ and having the target audience prefer quality over value we expect the audience won’t perceive the price as too high.

The capital we require to start the project is $840,000 which covers all initial development expenses, ongoing expenses will be covered by sales. The loan will be paid off over a 5 year period.

Our expected market share will grow most rapidly in the first 5 years then stabilize after 8 to 10 years. Our promotion strategy includes: direct mail, magazine advertisements, website advertisements, sponsorship and affiliation.

Quality is our primary concern so we will be implementing quality control systems including: audits, documentation and meeting Australian regulatory standards.

Table of Contents
1. Introduction 1
1.1. Organization and product 1
1.2. History 1
2. Strategic Plan and Focus 1
2.1. Mission Statement 2
2.2. Goals and Objectives 2
2.3. Core Competencies / Competitive Advantage 3
3. Situational Analysis 4
3.1. SWOT Analysis 4
3.2. Industry Analysis 4
3.3. Competitor Analysis 4
3.4. Company brief 5
3.5. Customer analysis 5
3.6. Environment analysis 5
4. Market-product Focus 6
4.1. Marketing and product objectives 6
4.2. Target Market 6
4.3. Points of Difference 7
4.4. Positioning 7
5. Marketing Program Strategy and Tactics 8
5.1. Product Line 8
5.2. Packaging 8
5.3. Promotion 8
5.4. Place 9
5.5. Pricing 9
6. Financial Data and Projections 10
6.1. Expense Distribution 10
6.2. Operating Expenses 11
6.3. Gross Profit per Unit Sold 11
6.4. Expected Market Share 11
6.5. Expected Net Revenue 12
7. Implementation Plan 14
7.1. Gantt chart 14
7.2. Promotion Schedule 14
8. Evaluation and Control 16
8.1. Quality Control 16
8.2. Risk Analysis 16
8.3. Evaluation Analysis 16
References 18
Appendices 20

Introduction

1 Organization and product

Seachange Technology is currently producing a large range of shark deterrent products, specific to several marine sports and activities. The Scuba Shark Shield dive unit is a new product which has been developed to better suit the needs of scuba divers. The unit is an advanced development, which has been produced in line with previously tested technology. Seachange Technology has succeeded in taking the concept of electronic shark deterrents to a new level. Our product is compact, less cumbersome to scuba divers, light weighted and 100% successful in preventing attacks from the most dangerous shark species.

The Shark Shield produces a unique conductive field which sharks are extremely sensitive to. When sharks approach too closely to the wearer of the product, the field produces temporary discomfort to the shark, which eliminates the potential for attacks. (Natal Sharks Board, 2007)

2 History

A wave form which deters sharks was discovered in the early 1990’s which was then later developed into a product, the Shark Shield. The following marketing plan outlines the projected goals established by Seachange Technologies to be implemented within a ten year period, or until saturation of the domestic market occurs.

Strategic Plan and Focus

To attain the organisation’s strategic direction, the company’s mission, goals, objectives and competitive advantage have been established to provide a vision and foreground for the company’s success. In addition, a measure of the scope of the product which the organisation offers, and the underlying environmental commitments held in relation to both the marine equipment industry and the marine environment itself, are also key players in the company’s strategic direction and focus.

1 Mission Statement

Seachange Technologies endeavour to become the number one leader in electronic safety devices for marine adventure; providing the highest protection at no cost to the environment. The confidence you need to expand your underwater playground.

2 Goals and Objectives

Non- Financial Seachange Technologies endeavour to achieve the highest level of customer satisfaction in relation to both the product and service provided by the company. This is further achieved by ensuring that the highest quality standards are adopted on all levels of manufacturing and production, for guaranteed 100% customer protection when using the product. This guarantee extends to the protection of all marine life.

Furthermore the company is committed to maintaining good employment opportunities and working conditions for all employees, to build a reputable organisation culture. This concerns promotional and sales staff, management and the like.

The company is committed to further enhancing an already existing corporate social responsibility in relation to marine wildlife and its protection in Australia.

Financial The primary financial goal of this product is to gain maximum market share over the first 5 years, and reach market saturation within the following 5 years (see section 6.5). As we reach market saturation, sales will gradually decrease as the product lifespan is 20 years long; as sales slow in Australia we will decrease production and expenses in Australia and start to globalize the product, the capital will come from the revenue made in the Australian market. On the initial $840,000 capital we expect to make $5.4m profit each year for the first 5 years then decreasing annual profit for the next 5 years and onwards, the loan will be paid back over the first 5 years (see section 6.2).

3 Core Competencies / Competitive Advantage

The company’s competencies include world-class innovative technology, partnered with highly skilled engineers, which will provide consumers with a product that provides 100% protection from sharks without harming them or other marine life. Such a product has been designed by experienced divers to ensure safety and ease of use by swimmers and divers, in order to not detract from the consumer’s experience. Shark Shield is increasing the levels of participation in water sports and helps make people’s working environment much safer – peace of mind, for individuals, families and employees. (refer to Appendix 1)

Situational Analysis

1 SWOT Analysis

Seachange Technologies is entering an industry as a sole producer of electronic shark deterrents. As such, a myriad of opportunities lie in the fact that as a first mover, there are no direct substitutes to compete against. The key threat therefore, is the potential for competitors entering the market (see section 3.3). The following analysis highlights the opportunities and threats faced in the marine sporting equipment industry. The development of strategic measures is the key to manifesting the strength of having obtained a unique product concept. However development will be required in terms of building relationships with retailers and direct customers through research and communication. (refer to appendix 3)

2 Industry Analysis

As a wholesaler in the marine sporting equipment industry, the Scuba Shark Shield is being produced in an industry worth over $656.3m (ABS, 2007). Scuba divers spend $1253 per year on average on scuba diving.

3 Competitor Analysis

Here, consideration is drawn to our indirect competitors. Our organization is currently the sole licensee to the Shark Shield technology. As such, we are only vying against a range of substitute methods of protection against shark attack. Such alternatives include the highly unethical shark gun, which is a trigger activated spear releasing device which kills the animal upon attack. Alternatively, the US Navy has previously utilized a projectile injection of gas which paralyses the Shark and prevents movement. (E.S. Organs, 2006, p27) Barrier strategies have proven popular in Australia, however are somewhat limited to coastal regions and are not specific for use by Scuba divers. Meshing was developed in Australia in 1937 (Fisheries Scientific Committee, 2004, 2), and kills sharks by entangling them and causing a lack of oxygen and ultimately death. Whilst it is a successful method of preventing shark attack, it is also successful in killing many sharks.

4 Company brief

The structure of the organisation has been strongly developed during the development of the initial range of electronic shark deterring products. With the addition of a new factory for production of the Scuba Shark Shield, and as an investment in future development and research, the organisation will require additional workers for manufacturing and production. These staff will fall under existing management structures.

5 Customer analysis

A study conducted on an actual diving list of 300,000 diving customers was established in the United States to determine customer lifestyles and demographic characteristics. Such statistics included 76% of participants to be males, with 80% holding a white collar, Professional or Technical management occupation. Such research indicates similar anticipated findings within the Australian target market.

In addition, an independent survey conducted by the company has provided the initial grounding for the products potential consumer. As outlined in section 4.2 target market, key characteristics have been identified and complement those of macro research. (refer to appendix 4).

6 Environment analysis

At the core of our product, is the confidence that the product in no way causes harm to Sharks. Research conducted in the initial development stages indicates that the Shark Shield only causes a temporary discomfort to Sharks, but negates any long term harm. Our product reflects the goals of the Australian government to protect threatened sharks species.

Market-product Focus

1 Marketing and product objectives

Seachange Technologies has identified its target market as Scuba divers, 45% of which are either a little afraid, or quite afraid of sharks (refer to Appendix 4). It was also identified that 50% of the market would either definitely or possibly buy the product. The organisation aims therefore, to achieve a market share of 40% within a ten year period, and a 30% share after five years. The ten year goal reflects the possibility of other competitors entering the market and also takes into consideration our first-mover advantage. At the point of saturation, or thereabouts, the organisation would propose an expansion phase into the international market.

2 Target Market

The target market for Seachange Technologies is active Australian scuba divers, who are part of a distinct segment (refer to Appendix 4). The geographical location of the market will initially be Brisbane, Sydney and Melbourne which each have over 1,000,000 people including roughly 35,000 scuba divers (Australian Bureau of Statistics, 2007) living mainly in an urban setting. The demographic of the market is approximately 70% male 30% female, primarily between the ages of 25 and 60, finished year 12 or a university degree, have a household income of over $80,000 per year and have no children. The psychographic qualities of the market are middle or upper class citizens who hold quality in higher esteem than price. The behavioural qualities of the market are that they participate in the sport on a regular basis and do value a recognized brand name.

3 Points of Difference

The advantages of marketing such a product include there are no products on the market that can be compared to Seachange Technologies new line, and such offerings. Seachange Technologies offer innovative, effective technology that deters sharks from swimming within a certain radius of users. Concerning our indirect competitors, it is the competitive advantage of producing a product that has a zero shark fatality rate, which makes our product unique as a substitute. As well as this, the Shark Shield is easy to operate, acts as a personal device and is high quality.

4 Positioning

The Shark Shield will be positioned as product that offers uncompromising protection for scuba divers, as well as preventing harm to sharks. This method of positioning would involve communicating the importance of environmental conservation in line with Australian government protection policies (Environmental Protection and Biodiversity Conservation Act, 1999) which indicates the grey nurse shark as critically endangered and the great white shark as vulnerable (Department of the Environment and Water Resources, 2007). This positioning would be through emphasises on the harmlessness of the Shark Shield. The high level of perceived benefit is associated with the quality engineering and reliability of the product as a safety device. As such the Scuba Shark Shield is positioned as having an immediate, tangible benefit for the consumer (Aaker, 2001, 98).

Marketing Program Strategy and Tactics

1 Product Line

Seachange technologies have designed a product line that will create positive impressions in the leading market today. Products need to be readily available to consumers and distinguishable from competitor’s products. This plays a positive role in marketing Seachange Technologies products, as the designs are unique and eye-catching to draw the curiosity especially of first time scuba divers. The key to this product line is promoting our most advanced product, the Scuba Shark Shield. The unique product qualities include our focus on both environmental conservation, and maximising the scuba experience by ensuring peace of mind for the consumer.

2 Packaging

Seachange Technologies products are sold in recycled packaging, in order to reflect the company’s ethical stance on environmental conservation. Seachange have a relatively low reliance on packaging of the product, but rather rely strongly on the recommendation of the Scuba Shark Shield by retailers and directly by the company. The only essential feature would be appropriate labelling and marking key benefits in an easy-to-read manner including battery life and brief overview of technology.

3 Promotion

The promotional plan to be adopted by Seachange Technologies, has two key objectives. That is, gaining new product acceptance and increasing sales for the company. Promotion of the Shark Shield brand will mainly involve above-the-line promotion techniques including advertising in specialised industry journals and magazines, internet promotion and to a more limited extent; television. Our focus on magazine advertisement reflects a growing Australian trend, with 8 out of 10 Australians reading at least one magazine, with readership increasing by 6.4% over the past five years (Magazine Publishers of Australia, 2007). Combining this with internet advertising will reflect a recent study which revealed natural synergies between magazines and the internet (MPA, 2007). Any below-the-line promotion will be based around scuba diving expo and trade show appearances, as well as direct contact with scuba diving charter businesses.

Seachange Technologies will be adopting a product development strategy, in relation to the promotion of the Scuba Shark Shield. This will involve targeting an existing market of marine sporting equipment consumers, with a new and more advanced version of the Shark Shield especially for scuba diving.

4 Place

Seachange Technologies will be acting as a distribution channel to retail stores, initially in three Australian capital cities (see section 4.2). These retail stores will consist of specialised dive shops which have been identified in our demographic research. These will be distribution points for a wider region of locations, and have been identified as having a large proportion of the scuba diving population. Our intentions would be to expand distribution to every state within five years. Our website will also allow for direct sales.

The placement of the main warehouse in the Port of Brisbane will allow distribution via both land and sea. The Scuba Shark Shield is relatively light and small and so transport will be easily contractible to either Toll Logistics for both Queensland and NSW, and Vic Express for Victoria.

5 Pricing

By employing a cost-plus pricing strategy, the organisation will be earning fixed gross profit. This will also enable a better control of costs, to ensure that manufacture of the Shark Shield does not exceed $750. This price is derived from a development cost of $600 per unit and a mark-up of 25%. This mark-up is based on rule-of-thumb mark-up figures provided by The University of Tennessee (K. Wolfe, 1999, 1).

Almost half of survey participants indicated that the quality of the product was of higher importance than the price or value of the good (refer to Appendix 4). This suggests that the demand for the product is relatively inelastic. For this reason, we have no hesitation in suggesting that the price of our good reflects the willingness of consumers in our target market to buy.

Financial Data and Projections

1 Expense Distribution

Initial Expenses We estimate that the capital required to bring the business into operation will total $840,000 which includes construction, land, equipment, fees, brand development and graphic design. The costs of each are illustrated below. Construction ($500,000) – Construction is our largest initial expense which is the cost of building a new factory. Land ($200,000) – The land where we will place our factory and warehouse will be located near the Port of Brisbane (Port of Brisbane, 2007) so we will have access to inter-state transport services and have the opportunity to export to outside countries. The Port of Brisbane also offers a warehousing service which we will take advantage of. Equipment ($100,000) – The equipment and machinery required to build the Scuba Shark Shield. Fees ($20,000) – The legal fees and various fees associated with registering a copyright and various other fees. Brand Development and Graphic Design ($20,000) – We will be hiring a design team to develop a professional brand image, which will extend to our wider range of Shark Shield products. [pic]

2 Operating Expenses

The annual operating expenses necessary to run the business will initially total $900,000 including staff, utilities, marketing, loan repayments and interest. These expenses will vary each year and will gradually drop; yearly estimates follow.

|Expense |Year 1 |Year 2 |Year 3 |Year 4 |Year 5 |
|Staff |$600,000 |$600,000 |$500,000 |$400,000 |$200,000 |
|Utilities |$50,000 |$50,000 |$50,000 |$50,000 |$50,000 |
|Marketing |$100,000 |$100,000 |$50,000 |$50,000 |$50,000 |
|Loan Repayment |$168,000 |$168,000 |$168,000 |$168,000 |$168,000 |
|Interest |$50,000 |$40,000 |$30,000 |$20,000 | $10,000 |
| | | | | | |
|Totals |$968,000 |$958,000 |$798,000 |$788,000 | $478,000 |

3 Gross Profit per Unit Sold

The gross profit made on each sale is the sale price minus the unit’s development cost, the gross profit per unit sold of the Shark Shield is $150 (see section 5.5).

4 Expected Market Share

The number of current scuba divers in Australia exceeds 700,000 people (EIED, 1997) who each spend $1253 per year on average (ABS, 2003), making scuba diving one of the most expensive sports. The Shark Shield will retail at $750 and have an expected lifespan of 20 years, which adds but 3% to the total cost of scuba diving. In relation to some other scuba diving products such as Underwater Propulsion Devices which retail for $2500, Underwater Cameras which retail for ~$2000 and Drysuits which retail for as much as $1700 (Amazon, 2007), $750 for a Shark Shield is not an enormous amount

We surveyed 100 scuba divers and asked them whether they would purchase a Shark Shield, knowing the benefits and the price (refer to Appendix 4); 20% said they would purchase it if it was available in scuba diving stores, 30% said they might buy one, 25% said $750 is too expensive and the remaining 25% said they are not afraid of sharks so wouldn’t buy one, as illustrated below. As to not overestimate, the figure 30% will be used as the target market share over the first 5 years. [pic]

5 Expected Net Revenue

Based on our 5 year market share target we can expect to gain 8.5% market share in the first year which equates to 59,500 sales. With a $150 gross profit per unit sold, our first year of expected annual gross profit will be $8.9 million. Our target market penetration is 30% over 5 years and 40% over 10 years. The yearly market penetration is illustrated below. [pic] The expected net revenue of the business will decrease each year until it stabilizes after 10 years, it will always turn a profit. This expected net revenue is illustrated below.

| |Year 1 |Year 2 |Year 3 |Year 4 |Year 5 |
|Sales |$44.6m |$41.0m |$35.2m |$27.8m |$20.0m |
|Cost of Goods |$35.7m |$32.8m |$28.1m |$22.3m |$16.0m |
| Gross Profit |$8.9m |$8.2m |$7.1m |$5.5m |$4.0m |
|less Expenses |$1.0m |$1.0m |$0.8m |$0.8m |$0.5m |
| Net Profit |$7.9m |$7.2m |$6.3m |$4.7m |$3.5m |

Implementation Plan

1 Gantt chart

[pic]

2 Promotion Schedule

The implementation of Seachange Technologies promotional schedule is a critical aspect of the success of the product. Figure 7.3 demonstrates the companies schedule in a 4 stage format in order to build a solid implementation strategy. As seen in 7.1 advertising, direct marketing and magazines are initiated between 11/4/2007 and 28/11/2007. Such crucial promotion over the 7 months will be re-introduced after the 4 month rest period.

The company’s promotion will include the following as broken down in 7.3 – • Direct Mail to scuba diving schools to help spread our brand name. • Paid magazine articles and advertisements to generate sales and brand awareness. • Scuba diving event sponsorship to create brand awareness. • Creating affiliations with sales websites such as Amazon.com to capture the online sales market. • Placing classified advertisements in newspapers.

|Stage |Implementation Strategy |
| |Advertisements on scubadive.com and Nautilus scuba.com will have |
| |links to Sharkshield.com to provide more in depth information on the |
| |product. In the initial stage of development of promotion this will |
| |allow for the company to reach the target audience and to educate |
|Stage 1 |them on the benefits the product has. This is important in the |
| |initial stage to attain as it will build the reputation, quality and |
| |make the product known to target audience. |
| |Stage 2 will see to the company informing direct retail stores within|
| |the marine sporting equipment industry about the innovative Seachange|
|Stage 2 |product offerings. This is a crucial stage of the promotional |
| |schedule as the company will rely heavily on retail distributors to |
| |be well informed about the product in order to make a better |
| |recommendation to both recreational and commercial scuba divers. |
|Stage 3 |Stage 3 will work in accordance with stage 2 as the company will take|
| |part in scuba diving expos, trading fairs. Pamphlets and product |
| |demos will be distributed to Allways Diving Brisbane, Nautilus Scuba |
| |Diving, Abyss Scuba Diving Charter companies. The company endeavours |
| |to promote the product through such companies to reach the target |
| |market. |
| |In addition advertisements will be placed in magazines; including |
| |Sport Diving and Dive Log, to have the same impact. |
| |Stage 4 will see to the implementation of television advertisements. |
| |Seachange technologies endeavour to promote the product through |
| |television in order to create the perception that the product is |
| |already widely used by scuba divers, and that it is a product of high|
|Stage 4 |demand by scuba divers. Television advertisements will appear in |
| |commercials during Extra at 5pm and Getaway (8pm on channel 9) |
| |to reach target audience. |

Evaluation and Control

Seachange Technologies pride themselves on high levels of control and evaluation methods. These have been depicted by the company in extensive quality control, risk analysis and evaluation.

1 Quality Control

It is an ongoing process for Seachange Technologies to ensure Total Quality Management (TQM) is met within the company. Seachange Technologies works in accordance with government regulations in order to meet Australian standards. Such standards will be met through employees checking 1 in every 5 Shark Shields for 100% accuracy in design, functions and technical features. Through audits, team leaders and management staff will document progress in order to continually improve quality of all production.

2 Risk Analysis

Seachange Technologies employ a 24hr security system to secure the Port of Brisbane warehouse. Seachange Technologies also have insurance on equipment, vehicles and the warehouse if stolen or damaged. Furthermore, if malfunctions occur within the machinery, it will automatically close down itself to ensure the safety of employees. If employees are working in the warehouse, it is mandatory that steel capped boots are worn along with safety glasses where necessary. In terms of deliveries, Seachange Technologies will keep a record of receipts in order to ensure that purchasing is performed correctly.

3 Evaluation Analysis

Seachange Technologies evaluations will be based primarily on meeting sales and market share expectations as described in section 6. We will be conducting sales analysis every 6 months and adjusting the promotion budget accordingly.

Furthermore, key performance indicators (KPI) will be undertaken by all employees in order to maintain a high standard of achievement within the organisation. In relation to the company’s promotional schedule, it will be reviewed every 3 months in order for the company to meet deadlines. References

Fisheries Scientific Committee. 2004. Current Shark Meshing Program in NSW Waters. http://www.fisheries.nsw.gov.au/__data/assets/pdf_file/0005/5279/FSC-Shark-Meshing-Info-Sheet.pdf (accessed September 12, 2007)

Australian Government Department of the Environment and Water Resources. 2007. Sharks in Australian Waters. http://www.environment.gov.au/coasts/species/sharks/index.html (accessed September 20, 2007)

International Shark Attack File, Florida Museum of Natural History. 2007. Graph of Worldwide Trends in Shark Attacks over the Past Century. http://www.flmnh.ufl.edu/fish/sharks/statistics/Trends.htm (accessed September 25, 2007)

Wolfe, K. 1999. Getting a Food Product to Retail. http://cpa.utk.edu/pdffiles/adc40.pdf (accessed September 14, 2007)

Magazine Publishers of Australia. 2007. Media Matchmaker. http://www.magazines.org.au/default.asp?page=/advertising+%26+engagement/media+matchmaker (accessed September 27, 2007)

Scuba Australia. 2007. Scuba Dive Centres. http://www.scubaaustralia.com.au/61/2/divecentre_state.php/61/2 (accessed September 8, 2007)

Australian Bureau of Statistics. 2007. Catalogue 4156.0 - Sports and Physical Recreation: A Statistical Overview, Australia, 2007 Edition 1. http://abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/B91F26389CCFEAE5CA25733A00154DD3?opendocument (last accessed September 28, 2007)

Natal Sharks Board. 2007. Electrical Shark Repellent. http://www.shark.co.za/repel.htm (accessed August 30, 2007)

Organs, E.S. 2006. Shark Attack Awareness. http://64.233.179.104/scholar?hl=en&lr=&q=cache:naddKnbpcqYJ:my.fit.edu/~jgreen/Shark%2520Attack%2520Paper.doc+shark+awareness (accessed September 19, 2007)

Aaker, David A. 2001. Strategic Market Management. 6th ed. New York: John & Wiley Sons, Inc.

Port of Brisbane, 2007. ‘The Port of Brisbane’ accessed September 19.

EIED, 1997. ‘Ocean Facts and Figures’ accessed September 16 2007.

Amazon, 2007. ‘Scuba and Outdoors’ accessed 20 September 2007.

Appendices
Appendix 1

Competitive advantage

The competitive advantage is strongly linked with the environmental commitment to the protection of both divers and sharks. The Scuba Shark Shield is scientifically proven to be harmless to sharks as well as humans (Natal Sharks Board, 2007), whilst serving as a successful means of keeping deep sea spectators at a safe distance from the most dangerous species.

Seachange technologies through the new product; Shark Shield, will reduce the slaughter of sharks directly, by ultimately replacing shark nets and indirectly, by protecting all types of ocean users. This is expected to reduce the clamour to kill sharks. Shark Shield has no long term effect on sharks or indeed any other creature.

Shark Shield is increasing the levels of participation in water sports and helps make people’s working environment much safer – peace of mind, for individuals, families and employees. The company’s experience within the industry and positive attitude towards helping marine life has provided the foreground for the exceptional marketing strategy to facilitate the success of the product.

Appendix 2
Source: International Shark Attack File, 2007

Appendix 3
SWOT ANALYSIS

|STRENGTHS |WEAKNESSES |
|Sole licensee of intellectual property/ technology |Reliant on perceived danger of sharks/ level of fear |
|Environmentally conscious product | |
|Size of product (small) | |
|Five year warranty on product | |
|Unique product concept | |
|Australian owned and made | |
|Current relationship with suppliers | |
| | |
| | |
| | |
|Technological advantages promoting expansion of the business |Threat of competitors entering the market |
|High profit growth |Target market not having fear of sharks |
|First-mover advantage |Retailer’s distribution of product |
|No direct substitutes |Concern for endangered and vulnerable shark species |
|Growing product line | |
|Up to 50% of divers do not see the shark before it attacks | |
|(Shark Shield, 2007) | |
| | |
|OPPORTUNITIES |THREATS |

Appendix 4
SURVEY

Seachange Technologies is currently conducting a survey of current scuba divers as consumer research for our new product Shark Shield. The Shark Shield will be a shark repellant and will cost $750. Seachange technologies would appreciate your time in completing the following questions by circling or writing the appropriate answer that best describes your current position. Thank you for your time.

1. Age: a.

Similar Documents

Premium Essay

Huntsville Plant Project

...Huntsville Plant Project can be done by its required completion time, calculation of the projects earliest and latest dates was required to figure out the project’s completion date. As a result, the project will be ready by the end of 2009 and will even meet the June 30, 2010 deadline set by the board of directors. According to my finding, the project will actually be completed earlier than scheduled. In most case, this is not usually normal for a project to result like the Huntsville project but instead be delayed and not meeting the projects deadline. When placed in a situation as this there are several things that should be kept in mind to ensure a project will be ready to meet its deadlines on time. One suggestion to consider is to make sure that all project team members are aware of the projects objectives and their own role in the project. In doing this it will alleviate any misunderstanding, and uncertainties that are likely to occur through the project. Another suggestion to be considered is the utilization of key tools such as risk management, scope management, proactive communication, and issue management to ensure that a project deadline is met. If properly utilized these key tools there is no 100% guarantee that the project will be prevented from being delayed. However, it will guide the project manager and team member on how to properly handle a situation that might occur. After much research, I will discuss in this paper how utilizing each key tool will prevent...

Words: 632 - Pages: 3

Premium Essay

Itm 423 - Module 5 Case Assignment

...ITM 423: System Acquisition, System Development and Project Management Module 5: IT Operations, Controls, Reporting and Maintenance Case Assignment May 2014 Term July 20, 2014 Assignment: Prepare a 4-6 page paper following the point/counterpoint model in addressing the following topic: “Discuss and recommend how to maintain effective accountability in project management” Discuss and recommend how to maintain effective accountability in project management Being able to deliver and complete a project on schedule, on budget and meet or exceed the expectations of the stakeholders is not just a dream, but is something every project manager aims to achieve (Barron & Barron, 2011). However, in order to achieve these results it clearly requires active participation from everyone on the team and clear communication skills. Most project managers, if not all of them will tell you that communication is the most important aspect of their job and if not done properly then accountability is not likely to happen. While this key aspect is true, there are also other components of project management cycle that are often ignored that also take away from maintaining effective accountability. For this assignment we’ll discuss ways for the project manager to maintain this control and how accountability feeds into the overall success of the project. We’ll also cover some counterpoints to the arguments to see that even when the project manager plays their cards right there may be other...

Words: 2050 - Pages: 9

Premium Essay

Project

... MASTERS OF PROJECT MANAGEMENT YEAR ONE SEMESTER TWO BY: KING’OINA OGECHI AMOS ADM NO: HD333 C006 4082/2013 LECTURER: DR.OMBASA An Assignment done in Partial fulfillment of the Completion requirements of the Unit HEPM3109: Project Human Resources Management MARCH 2014 Question: Think of the project you have either led as a project manager in which you have been a team member or even that where you have been merely an involved observer. Now try to put into words how you would describe a successful project. One of the critical factors for project success is having a well-developed project plan. This description provides a 10-step approach to creating the project plan, not only showing how it provides a roadmap for project managers to follow, but also exploring why it is the project manager's premier communications and control tool throughout the project. One of the most misunderstood terms in project management, a successful project is a set of living documents that can be expected to change over the life of the project. Like a roadmap, it provides the direction for the project. And like the traveler, the project manager needs to set the course for the project, which in project management terms means creating the project plan. Just as a driver may...

Words: 2031 - Pages: 9

Premium Essay

Negotiation Skills Case Study

...THE BRITISH COMPUTER SOCIETY Case Study of Successful Complex IT Projects AUGUST 2006 Case Study of Successful, Complex IT Projects Table of Contents Executive Summary .......................................................................................................3 Introduction....................................................................................................................5 Background to the study ............................................................................................5 The complexity of IT projects....................................................................................6 Part I: Research Methodology .....................................................................................11 Part II: Case Description..............................................................................................14 eCourier company background ................................................................................14 eCourier industry background..................................................................................16 eCourier technological issues ..................................................................................16 LogicaCMG company background..........................................................................17 LogicaCMG industry background ...........................................................................18 LogicaCMG technological issues ...............................

Words: 18415 - Pages: 74

Premium Essay

Project Managment

...IT world Project management is about being controlled from the start of the job to the end. Efficient and effective teams with a leader that can encourage cooperation and motivate to get outcome as all are working toward the same goal. It is in everyone’s best attention to work together to the works success. Project management is appropriate to many businesses and organizations. Some basic industries that use project management include Information technology, telecommunication, construction, software development, banking, manufacturing, professional engineering and architecture, computers. Project management is important because tough budgets, reducing resources, limited time constraints, and competition to improve the methods we do business in the competitive environment. The great ability of project management makes it possible to focus on priorities, track and measure performance, overcome challenges and issues, become flexible enough to adjust to change and reach higher performance and a higher probability of success in each and every project. The challenges of project management most especially the high hopes from senior management combined with little or no hierarchical permission are powerful, but project managers can influence the entire path of an organization. Project management is very important in today's business environment when one considers the repercussions of the lack of good project management or when project management is not successful applied to projects...

Words: 1383 - Pages: 6

Premium Essay

Change Management

...THE REASON CHANGE MANAGEMENT HAS A 70 PERCENT FAILURE RATE by Craig W. Johnson A research project report submitted to the faculty of Brandman University in partial fulfillment of the requirements for the degree of Bachelor of Arts in Organizational Leadership December 2012 TABLE OF CONTENTS Page Abstract 3 Introduction 6 Statement of the Issue 6 Background 6 Purpose 7 Research Questions 8 Significance of the Study 9 Conclusions 9 Literature Review 10 Research Question 1 10 Research Question 2 16 Research Question 3 23 Conclusions and Recommendations 26 Conclusions: Research Question 1 26 Conclusions: Research Question 2 28 Conclusions: Research Question 2 29 Recommendations 31 References 33 Abstract The purpose of this paper is to review current information on the reasons and circumstances why change management projects have a 70% failure rate. Since change management projects are perceived, planned, approved, communicated, and implemented within organizations at an alarming rate, it is important to reveal individual and group interests behind the ideologies of change management. This research provides insight into the characteristics of management, management’s approach to effective communication, the politics, power, and ideologies of change management implementation, the behavior of organizations, management, the workforce, and...

Words: 8626 - Pages: 35

Premium Essay

Strategic Issues

...UNIVERSITY OF NAIROBI MASTERS IN ARTS-PROJECT PLANNING AND MANAGEMENT PROJECT MANAGEMENT Course Code: LDP 604 Course Name: Project Design, Planning and Implementation Duration: October 2013-February 2014 Assignment: Group Presentation Topic: Strategic Issues in Project Management Date: 30th October, 2013 Group Members: 1. Winnie Munene 2. Philip Abong’o 3. Bernard Tarus 4. Noel Amoit 5. Brian Kenya 6. Sam Kiarie 7. Peter Kabutu Lecturer: Mr A. Bwibo Definition A strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem. It can also be defined as the art and science of planning and marshalling resources for their most efficient and effective use. An issue is something that has happened and either threatens or enhances the success of a project. Issue management is the process of recording and handling any event or problem. Some of the issues can be dealt with within the project; however strategic issues may require a change in order to keep the project viable. Therefore, the following are diverse definitions of strategic issues in project management:- A strategic issue in a project is a condition of pressure, either internal or external that will have a significant effect on one or more factors of the project such as its financing ,design, engineering, construction and operation.(MBA knowledge base). Cleland D. (1989)...

Words: 6510 - Pages: 27

Premium Essay

A New Framework for Managing Change -Tqm Magazine

...org/10.1108/09544780710828421 Downloaded on: 16-08-2012 References: This document contains references to 20 other documents Citations: This document has been cited by 10 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 12014 times since 2007. * Users who downloaded this Article also downloaded: * François Des Rosiers, Jean Dubé, Marius Thériault, (2011),"Do peer effects shape property values?", Journal of Property Investment & Finance, Vol. 29 Iss: 4 pp. 510 - 528 http://dx.doi.org/10.1108/14635781111150376 Hui Chen, Miguel Baptista Nunes, Lihong Zhou, Guo Chao Peng, (2011),"Expanding the concept of requirements traceability: The role of electronic records management in gathering evidence of crucial communications and negotiations", Aslib Proceedings, Vol. 63 Iss: 2 pp. 168 - 187 http://dx.doi.org/10.1108/00012531111135646 Charles Inskip, Andy MacFarlane, Pauline Rafferty, (2010),"Organising music for movies", Aslib Proceedings, Vol. 62 Iss: 4 pp. 489 - 501 http://dx.doi.org/10.1108/00012531011074726 Access to this document was granted through an Emerald subscription provided by UNIVERSITY OF MANCHESTER For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald...

Words: 7152 - Pages: 29

Premium Essay

Stakeholders

...Identifying and Managing Stakeholders Successful implementation of any organizations project depends mainly on involving the support of the stakeholders. Stakeholders are individuals (customer, patient, sponsors, vendors, and employees) or organizations that have a vested interest in the success of the business (Corporation for National and Community Service, n.d.). Without stakeholders support IT projects can run into many problems that can result in failure (eHealth Initiative (EHI), n.d.). When stakeholders are allowed to have input from the project start, then the project can be implemented more efficiently (EHI, n.d.). There are many different stakeholders with unique role that ensure the organizations project success (Wager, Lee, & Glaser, 2010). Stakeholders Before the initiation of any project, it is critical to identify those individual that will be most impacted by the project (Corporation for National and Community Service, n.d.). There are many stakeholders within a health care organization that must work towards one shared goal (Abbot, 2013). Key stakeholders in a health organization are consumers/patients, providers, clinical managers and senior leadership just to name a few (HRSA, n.d.). It is also important for each stakeholder to know their roles and responsibilities, how the system will affect them, and the benefit offered (HRSA, n.d.). Stakeholders Roles and Responsibilities The key stakeholders in a health care organizations information technology...

Words: 910 - Pages: 4

Premium Essay

Project Management

...Project Management Assignment 1 Describe the role of the project manager and identify the project management key elements of an effective project manager. Project management briefly refers to a process of managing a project successfully. Then, in order to achieve an outstanding project outcome; resources, costs, time and even the quality of projects should be optimally managed in this process (Meredith and Mantel, 2010). The project manager, therefore, performs a core role in a project. As Wallace (2002) demonstrated, the project manager should reasonably coordinate and manage everything directly or indirectly involved in the project as the centre of it. For example, the project manager might continue to communicate with some relevant departments until the project’s accomplished. Or perhaps, the project manager is required to provide staff with a comfortable external environment. Hence, the project manager has a full responsibility for each phase of the project. Hartley (2009) described a project life cycle is generally classified as four phases that are definition, planning, execution and completion respectively. At the initiation of the project, or the first phase, the project scope should be aware correctly based on the project’s feasibility and assessment (Thomsett, 2002). This is; series of issues such as specific goals, working criteria, and tasks should be clearly determined. Due to the purpose of protecting project stakeholders’ interest, this phase performs a...

Words: 1090 - Pages: 5

Free Essay

Case Study

...Change Management Best Practices Guide Five (5 ) key factors common to success in managing organisational change. Table of Contents 1. Scope and Purpose 2. Change Management 2.1 2.2 Overview Why is Managing Change Important? 1 1 1 2 3. Factors Common to Successful Change Management 4. Planning 4.1 4.2 4.3 4.4 Planning Context Clear Vision Document the Case for Change and the Vision Develop Change Plan and Measures 2 3 3 4 5 5 5. Defined Governance 5.1 5.2 5.3 5.4 5.5 Change Governance Steering Committee Change Sponsor Change Agent Work Stream Owners 6 6 7 8 8 9 6. Committed Leadership 6.1 6.2 6.3 Role Visible Support - Setting the Example Continuous Engagement 9 9 10 10 7. Informed Stakeholders 7.1 7.2 7.3 7.4 Communication Context The Purpose of Change Communication Understanding the Audience - Stakeholder Analysis Change Communication Fundamentals 11 11 11 12 13 8. Aligned Workforce 8.1 8.2 8.3 People Impacts Organisational Needs Assessment Workforce Development 15 15 15 16 Appendix One References 17 18 ÃTp‚ƒrÃhqÃQˆ…ƒ‚†rà This Change Management Best Practices Guide is designed to give general guidance to public sector bodies undertaking change. It is not intended to be prescriptive nor exhaustive. A ’one-size-fits-all’ approach to managing change is ineffective, as each public sector organisation is different, with its own structure, history, culture and needs, and each change event is different. The characteristics...

Words: 7320 - Pages: 30

Premium Essay

Nokia

...Organisational Change…………………………………….….3 • Introduction……………………………………………………………………4 • What is Change Management………………………………………………4 • • • • What are the differences between change and transition? What is transformation? Leading and managing change Why is organisational change difficult to accomplish? 4. Kotter’s Eight-Stage Process for Creating Major Change……………………7 5. Bridge’s Three Phases for Managing Transition ……………………………...9 6. The Project Management Approach to Change Projects…………………...11 7. Managing Performance During Times of Change……………………..….…19 8. Further Reading…………………………………………………………….……20 2 PURPOSE OF THE ‘HOW TO’ GUIDE The purpose of this guide and accompanying online resources is to provide University staff with an overview of ‘best practice’ change management methodologies, research, readings and guiding pro formas. This guide does not attempt to reproduce the many informative texts written on change management, transition and transformation. The follow-up reading is also strongly advised as it informs much of the change management and transition processes undertaken in the University of Adelaide. The guide identifies the differences between managing the process of change and leading people through transitions. It describes the University’s preferred process model of change which is John Kotter’s Eight-Stage Process for Creating Major Change. The importance of transition management is also addressed by the inclusion of William Bridges’ Three Phases for Managing Transitions...

Words: 6308 - Pages: 26

Premium Essay

Project Motorcycles

...Running Heads: Project Motorcycles ASSIGNMENT 2 - WEEK 4 PRODUCTION OF TOURING MOTORCYCLES Christopher Akinremi Strayer University Professor Pamela Payne-Powell, PMP Instructor On BUS 375 01/28/2015 PRODUCTION OF TOURING MOTORCYCLES ABSTRACT This paper is focused on the manufacturing of touring motorcycles for a particular demographic group by my XYZ Company. As a project manager in the company, I am required to initiate a project plan for the transitioning from medium-sized motorcycle cruisers to a larger motors with a capacity of 1100cc. and over. In this regard, I am required to consider the types of project organization that would suit the development of the larger touring class motorcycles. I also have to outline the process steps the company must adopt to accomplish this goal with appropriate reasons. It is important to indicate the strategy to use to balance the short and long medium term needed and make the appropriate recommendation to the senior executives. To indicate the crucial resources needed to run the existing business interests and also to accommodate the business changes for the production of touring class motorcycles. To examine the project management leadership style required to oversee the...

Words: 2718 - Pages: 11

Premium Essay

The Importance Of Project Management

...ABSTRACT Project . 1.0 INTRODUCTION Project Management is the application of knowledge, skills, tools, techniques to project activities to meet project requirements. Project management is accomplished through the application and integration of the project management process of initiating, planning, executing, monitoring and controlling and closing (King, 2014). Nowadays, in order to become a successful project manager and to ensure the project’s success, they should possess attributes such as critical thinking skill, analysing skill as well as problem solving skill. Meredith & Mantel (2012) define certain attributes of effective project managers as well as three specific leadership styles: Intellectual, Managerial, and Emotional. Individuals...

Words: 1414 - Pages: 6

Premium Essay

Change Management

...| CHANGE MANAGEMENT | CIP Project | | Submitted to : Mr. Adil Hassan | Submitted by: Raunika Rawat PGDMHR IMI, New Delhi | | | TABLE OF CONTENTS S. No. | Topic | Page No. | 1. | Defining Change Management | 3 | 2. | A brief history of Change Management | 3 | 3. | Why do Change Management? | 4 | 4. | Challenges for Change Management | 5 | 5. | ADKAR Model | 7 | 6. | Kotter’s 8 step change model | 8 | 7. | Lewin’s 3 stage model of change | 8 | 8. | The change curve | 9 | 9. | Framework for managing change | 11 | 10. | Transition and Transformation Activities | 17 | 11. | Project structure Delivery Side model | 18 | 12. | Pros and Cons of Change Management | 19 | 13. | Conclusion | 21 | ACKNOWLEDGEMENT I would like to use this opportunity to express my gratitude to everyone who supported me throughout the course of this CIP project. I am thankful for their aspiring guidance, invaluably constructive criticism and advice during the project work. I am sincerely grateful to them for sharing their truthful and illuminating views on a number of issues related to the project. I express my warm thanks to Mr. Adil Hassan for his support and guidance at Mercer. I would also like to thank my project external guide Ms. Mamta Mohapatra and Ms. Soni Aggarwal from International Management Institute and all the people who provided me with the facilities being required and conductive conditions...

Words: 4436 - Pages: 18