Business Plan: Students’ Welfare Association
Background Information
The Student Welfare Association department has been one of the most success departments in the university. The department has been useful in boosting the image of the university both at the local level and in international level. Some of the services offered by Students Welfare Association include providing rental services to the university students and sporting activities to both university staffs and students. In reference to the department long-term objective and goals, the department aim at becoming one of the most efficient departments not only in the university, but also at national levels. The department is also committed and have the capacity of serving over 1,000 students in a day.
Similar to its mission and vision statement, the Student Welfare Association has also been offering quality services not only to students but also to other visitors who seek for their services. Having served university students for over ten years, the department is embarking on a process of expanding its services to meet the ever-increasing demands of university students and other consumers in the region. With financial support from the other university departments, the department has embarked on a mega five years project that aims at significant transforming and improving its services and production at all levels. Despite improving the quality of its services, the department also plans to recruit qualified professionals with sizeable level of experience in offering services to students and consumers from multicultural settings.
Executive Summary
In considering the complexity and dynamic nature in the modern economy, an effective and realistic business plan will be of critical importance in helping Student Welfare Association to meet the demands of its customers. The Student Welfare Association will present a formal statement that will outline business goals and objective. The Student Welfare Association intends to be one of the most successful and efficient department in the university and by extension in the region. Despite being one of the most competitive departments in the university, the Student Welfare Association also plans to be among the most productive departments in global markets. The business plan will also offer a detailed and well thought of reasons why the department intend to be one of the most efficient entities in the university. Being the only department that is entitled with the undertaking of meeting students’ social demands, the department has a role of becoming one of the most reliable departments in the university (Eric, Brian, and Jay 37).
The increasing competition in local and global market has also boosted the department interest of becoming a reliable institution in the university. Through the adoption of an effective business plan, the university want the Student Welfare Association department to have the capability of competing with outside production companies in local and global market without compromising the quality of services that are offered by the department to university students. To help it in attaining its long-term goals and objectives, the department has acquired a grant of $ 600, 000 that is expected to be used within a span of two years. These resources will be applicable in facilitating staffing costs, capital equipments, and other operation costs. The business plan will also offer intensive marketing plan that will help the department in attaining its long-term goals and objectives. To understand the management and operation of the business, the business will also present detailed business structure explaining the role and responsibility of every professionals in the department.
Modern economy requires the adoption of a realistic and a cost effective marketing planning that meets both the interest of consumers and the requirements of a business. To increase the number of its customers and it sales, the department plan to reduce the costs of its products and services. The reduction in the costs of the department services will increase the number of students who intend to use the department products and services (Pinson 11). The prices of Student Welfare Association products will take into consideration the financial capacity of department’s consumers. Intensive researches and studies will also be of critical importance in improving the quality of services offered by the department. Improving the quality of services and products will be critical in improving the department reputation and in increasing the cost of its sales. Increase in the organisation sales will be equivalent to increasing the organisation’s profit and reliability.
With an aim of popularising its services in the university and in other parts of the world, the department also aim at embarking on intensive promotion and advertisement. Public campaigns will be of critical importance in improving the popularity of the department at local and national levels. Online services such as the use of social media will also play a credible role in increasing the organisation sales and profit. The department also intends to use both local and international mass media in informing community members on some of the services offered by the department. The department also aim at purchasing additional equipments and furniture to increase the space for serving students and other customers (Laermer and Simmons 57).
Services and Costs
The organisation has an expansive plan of adding services to meet the interest of modern population despite the improvement in the quality of services that are currently offered by the department. The department also has a plan of improving the quality of its rental services at an affordable price. Within the next five years, the department aim at expanding its residential houses to increase the number of students who relies on its services. The status of the residential house will also be improved to meet international status. With an aim of meeting the needs of its clients, the department also aim at stating studio area (Shaw 31). The area will not only serve as an entertainment area, but also help in developing the talents of university students and other customers who seek for the department services. The studio area also aims at improving the organisation sales and profit. The department also seek to introduce various franchise and shops in order to bring products and services closer to its customers. The introduction of franchise in the department will also be of critical importance in reducing the cost of running its activities in the department.
Besides increasing the number of potential customers who will be longing to use its services, the introduction of high quality shops in the department will help in improving the organisation profitability. The department has a plan of improving its parking services to be competitive at both local level and international level. The Student Welfare Association parking services will expand to increase the number of customers in the department. Security will also be improved with an aim of reducing unnecessary criticism from students and other outside consumers. The department will also add the number of staffs in the department to improve the quality of their services. The recruitment of the department staffs revolves around individual’s competence and experience. The organisation will as well improve the status of the organisation staffs in order to attract more qualified and competent staffs in the department. Professionals and department subordinate staffs will receive their payment in accordance to their experience and competence. A comprehensive research will also help in setting the prices of the department products and services. However, the prices of the department products and services will meet the interests of both customers and the department financial needs.
Staffing and the Organization Chart
In reference to its immediate and long-term goals and objectives, the department is planning to double the number of its employees. The main aim of doubling the number of its employees is to increase the quality of its services and to boost the department productivity. The Student Welfare Association is also planning to increase the number of skilled professionals in the department. According to the department assessment, increasing the number of skilled professionals will mainly improve the department reputation at both the local level and international level. The recruitment of competence workforce in the department will also rely on individual merit and experience. The aim of recruiting experienced professionals in the department is to help Student Welfare Association to meet its long-term management and operation objectives.
The recruitment and promotion of the organisation managers and top leaders will also be based on individual merit and experience. Professionals with a sizeable level of experience will be get top leadership and management position while less qualified individual will be subjected to continuous and systematic training and evaluation. The department also plans to set aside some resources to facilitate continuous training of its staffs and new recruits. The training of serving staffs will aim at educating the department employees on some of the most effective means of meeting the demands and interests of its customers. Training will also be vital in improving the quality of services offered by the department. To boost the morale of the department employees, the organisation has embarked on an initiative aimed at improving their welfare and working condition. The department will increase the salaries of employees to boost their working morale and productivity.
The department will also alter its organisation structure with an aim of improving communication in the department. The chief executive officers will have the responsibility of overseeing all operations and activities in the department. Human resource officers have the mandate of recruiting, disciplining, promoting, and enumerating organisation staffs. The core responsibility of financial officer will be to management all the financial resources in the department. Research and development officer has the mandate of organising researches to understand customers’ demands and interests. Subordinate staffs on the other hand have a role of implementing organisation plans.
Vendor Capital Equipment
The Student Welfare Association needs to improve its business capital equipment to succeed in modern competitive economy. In this case, the department intends to expand its business building to meet the interests of the ever-increasing students’ number and potential consumers. The department is also in the process of purchasing new business equipments intended to improve the quality of services offered by the department. The adoption of online marketing and promotion services that will offer potential consumers an opportunity of presenting their suggestions will not only help in improving the department services, but will also help in advancing the organisation sales and profitability. In addition, the department has a plan of increasing the number and quality of its workforce. Continuous training and the recruitment of qualified professionals will be one of the key aspects that will help in the improvement of the department capital equipments. The adoption of new and more reliable payment mechanism will also help in improving the department efficiency and in advancing its profitability and sale.
Sales, cost of sales, profit, and operating expenses and in kind usage
With the adoption of modern promotion and advertisement mechanism, the department will double its sales and profitability. If effectively implemented, the plan will double the organisation sale in the next five years. With the increase in the department sales of its products and services, the Student Welfare Association will reduce its budget expenses by 20%. The increase in the department sales will on the other hand reduce the costs of the department sale. This is because the department has an intensive plan of increasing its sales without compromising the organisation’s profitability. The reduction in the depart cost of sale as well as the increase in the organisation sale will result to increase in profits of its products and services. The new business plan also aims at doubling its current profit in the next three years. The adoption of reliable and sustainable marketing and promotion initiative will also reduce the operation costs. The reduction in the operation cost will result to increase in organisation profitability and effectiveness. In the next five years, the Student Welfare Association has an initiative of reducing its operation cost by over 20%. The department has also embarked on a plan that will ensure that the operation cost is shared among all actors including suppliers, intermediaries, and consumers.
Niche in the Market
Currently, the Student Welfare Association is one of the most productive departments in the university. Compared to other departments in the university, the Student Welfare Association is among the leading department in terms of sales and profitability. At the local level, the department has attracted a huge number of customers into the university. The department effective reputation and high quality services have enabled the company to attain a reliable position in the local market. Currently, the department enjoys over 20% of the local market sales. However, to fit in modern complicated market, the department has embarked on an initiative of improving its market position both at the university level and at regional level. Within the next five years, the department has a plan of being one of the most productive departments in the university. The department also has a plan of improving its market position in regional and national level. The current development plan will also help the department in dominating and controlling the university and local market. The increase in the department market position will play a critical role in improving the organisation reputation and profitability. The increase in the department reputation will also be tantamount to the improvement of the organisation sales and profitability.
Budget
Work Cited
Eric, Siegel, Brian Ford, and Jay M. Bornstein. The Ernst & Young Business Plan Guide New York, NY: John Wiley and Sons. 1993. Print.
Laermer, Richard and Simmons, Mark, Punk Marketing, New York, NY : Harper Collins, 2007. Print.
Pinson, Linda. Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business and Securing Your Company’s Future (6th Edition). CA, Chicago: Dearborn Trade. Print.
Shaw, Eva. Marketing strategy: From the origin of the concept to the development of a conceptual framework. Journal of Historical Research in Marketing, 4(1),(2012), 30- 55. Print.
