business leadership-strategic planning assignment.docx

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York University
Administrative Studies
ADMS 2511
Cristobal Sanchez- Rodriguez

Corporate Challenge 1 Strategic Planning Assignment By: Siya Khanna, Parth Kothari, Vanessa Harideen, and Diyar Yoksul Mr. Brodie BOH4M1 Monday, April 8th, 2013 Corporate Challenge 1 Part A) Step 1: The Objective As a corporate team, Forever Green aims to empower consumers who share our eco-friendly vision, to make a simple purchase of our company's product, and help enable us to successfully obtain a profit to donate to our charity. We wish to raise a minimum of $100 for our charity (The Redwood) with the help and support of our students and the faculty at WC. We also hope to get a majority of people interested in our product prior to, and during the times we are selling in order to create hype and product awareness. The next holiday of celebration coming up is Mother's day, and as a company we want our product to be the product of choice among any consumer's ideal mother's day gift. Forever Green seeks to create a positive company image, while leaving a zero carbon footprint. We wish to deliver our products on time and efficiently to all our consumers while providing them with the best possible quality. This will ensure that our consumers needs/wants are met and that they are satisfied with the job our company has done. Step 2: Where you are in relation to where you want to be As a company we have just started out with our product idea and have analyzed our survey data but still have a number of things ahead of us to do in order to achieve our goals. Our main concern is to finalize the mug design. The mugs can either be with or without handles and be made out of stainless steel or plastic. The survey data suggests mixed results of both of these things. It is important to decide what we are doing as a company as soon as possible so we are able to communicate with the supplier and order the product ahead of time to avoid any mishaps. Ordering last minute and receiving the wrong type of mug would not be a good for our business since it would put us behind schedule and go against the needs/wants of our consumers. We must also finalize the supplier. As a company we can either chose to order in bulk internationally from a manufacturing company in countries such as China, and have it exported here for a cheaper price, or from a location nearby such as XS Cargo and risk the order being more expensive but have the convenience of visiting the retailer at any time to ensure our purchase, or fix any problems with the order much quicker if they were to occur. Adding to the list, another thing we must do is find a reasonable cost for our consumers that is at the same time affordable for us using our survey data. An appropriate price range must be found so that we are able to make an investment and obtain a generous profit to donate to charity. The survey data suggests that consumers will only consider purchasing the mug if it is from $10-$15 and not any higher. We need to figure out a way to get our product for a cheap price and meet the desired price of the consumers. Therefore, Forever Green has a lot of work to do as a company to reach the stage we want to be at in time for the selling of our product. Step 3: Anticipate future events In any business there are always problems that may arise, and in order to avoid those problems it is best to anticipate future events that may occur. Possible events that may occur and negatively impact our business would be if the most popular design of the mug was not ordered and as a result potential customers are turned away. This would narrow down the number of Corporate Challenge 1 estimated buyers and affect the demand of our product. Our survey data shows mixed results as to if the mug should come with or without a handle. It is clear however that the student population would much rather prefer stainless steel mugs. Another problem that may occur is that potential consumers may demand for something another producer offers. They may decide that the mug our company offers is not what they intended to purchase and do not like the customizable aspect of it. They would much rather just have a simpler mug and so resort to another company which once again leaves us at a disadvantage since we would have more to sell. The cost of the product may also be unreasonable and expensive for some consumers. They may decide that the price being asked for the product does not give them their money's worth. Due to this decrease in interest of the product, we may be forced to choose a whole new product to sell in order to raise some money for charity and follow through with our company's objective. Choosing a whole new product would call for the whole process to start again and be very time consuming. Consumers may also not like the idea of writing on the mugs and therefore not purchase the special dry erase marker we offer leaving us with extra supply of that. Considering supply, it is also possible that we order too much or too little of our product. Ordering too much would make us unable to sell it on time and result in financial loss, while ordering too little would not be sufficient to satisfy our consumers. We may be forced to order more of it later on and not receive the stock on time. Some consumers may also issue complaints as to the stainless steel mugs giving off a strange taste to their drink and ask for a refund. Step 4: Analyze among possible actions Considering all the possible events that can occur we have come up with the best solution to avoid problems based on our survey data. Our data suggests our mug should be stainless steel therefore that is the type of mug we will order to satisfy our consumers' needs best. The survey data also suggests that only a few more people prefer mugs without a handle rather than with a handle, therefore we will choose to order that type of mug and hope that once others see their fellow peers with our product, they are more inclined to change their minds and consider purchasing the mug without handles as well, becoming more accepting to the design. We will also order a little more of our product than what is estimated to sell incase some are defective/broken and keep as backup. If there are extras left we would sell it for an even cheaper price to another source. In order to avoid complaints about the stainless steel mugs we will provide instructions with each purchase of our mug explaining it is necessary to wash it a few times before using it to avoid any unwanted taste. Overall we believe that following this solution would diminish all the fears our company has and ensure that a high amount of sales are produced for our charity. Step 5: Implement the plan In order to implement our plan and receive maximum results we must order our tasks by their importance. To order the most accurate amount of travel mugs is our main focus. This means make an estimate as to how many potential buyers we have and order around that amount. Next is purchasing a sufficient amount of dry erase markers that consumers may wish to purchase alongside their mug, as well as special paper to print the designs on. We will create various designs that are not only popular but innovative as well as attractive for the mugs, and Corporate Challenge 1 that would appeal to the general population of WC. The designs would be printed on the special paper from locations such as Staples or Business Depot to ensure quality colour printing. Last but not least we must market our product and do so by using methods such as social media/networking, flyers, announcements, and word of mouth in attempt to create hype for our product. It is important that we also plan to create a few prototypes to display to our potential consumers beforehand to provide them with an idea as to what our product entails and
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