Myanmar Tea leaf salad and Myanmar Thingyan Dance
Project name
Myanmar Tea leaf salad and Myanmar Thingyan Dance
Business name
Myanmar Tours and Travels
Project Progress
Since the commencement of the Myanmar Tea leaf Salad and Myanmar Thingyan Dance , it has always been the desire of Myanmar Tours and Travels to keep all the operations on track. However, there are always few setbacks that we plan to handle through various approaches. All the milestones and visions for the first part of the project have been achieved thus demonstrating the business is following a growth trajectory. For instance, the ingredients required for the preparation of the popular Tea Leaf Salad dish and the water supply for the festival were made available on time. With a primary goal of exploiting the large demographic of people that shows up for the event each year, we had to ensure that the major aspects of the business start-up were up and running in time for the festivities. For future and upcoming Thingyan festivities, we also have plans in place that includes the milestones and goals set ensure the business its operations improving at all times. In fact, the strategic theory planning clearly indicates that planning helps managers and employees get an understanding of how a business can better improve their operations (Wilson & Bates, 2003).
Project Performance
As expected, the project started with all services including the water tools and the salad restaurant available at the appropriate stalls. While we experienced a small customer turnout when the project started, the number has since then increased significantly through the initial part of the event. Furthermore, while there are some few minor setbacks that we have come across during the entire project, we do have plans in place for how we can control the complications. At some point, we have had experienced an immense increase in the overall number customers than the resources- meaning that we need large-scale service providers in future.
Legend
Issues
We lack the resources to hire a financial expert or accountant to help us balance the books and perform all the accounting needs of the project. Simply put, a good financial expert helps ensure that our inflow and outflow of cash are in balance.
The level of the competition here is high since many other companies provide services that are almost similar to ours.
We have also noticed reduced employee motivation and some minor complains. Therefore, have plans in place to raise their general pay rates to improve their general productivity rates. Employee motivation is an important factor for the success of the business (Frey & Osterloh, 2002).
Timeline-details
1/4/2016- Approval of the commencement of the entire project
3/4/2016- acquisition of raw materials, resources and labour required
5/4/2016- commencement of the project in line with the events
Funding Sources
Project Budget Overview
Planned Deliverables
Since the Thingyan festive largely involves playing with water, we will offer customers an open play area or resort where they can play freely with water. For this reason, we have plans in place for a reliable supply of water for the clients in agreement with our expected budget. Resource planning is a crucial aspect for the success of any start-up. Failure to do so and the business might fall into debt, and this might lead to bankruptcy (Kurbel, 2013).
For those who enjoy the favorite local dishes, we have a restaurant area where the customers will be able to enjoy the dish in peace. The stalls will be under the shade with comfortable seats where clients can even interact with each other.
With the increasing number of clients that we are experiencing, we plan to seek a large-scale water and tea leave service provider for next year’s project.
Review of Risks
Similar to all business startups, this project involves taking some form of risk. For example, the initial capital that we invested in the business was raised from our personal financial resources. Additionally, we also have expenses such as rent, water, and electrical bills that we have to pay each month. Due to the constrictions in start-up finance, we have to rely on one small-scale water provider who at times delivers late or insufficient amounts of water for the events.
Conclusion
Overall, the entire project is on track and based on our assessment; we have some few aspects to improve in our operations. One of the main areas that we seek to improve is the overall employee motivation through incentives. In fact, according to the Incentive theory, people can only work as hard as you pay them (Suri, 1973). Furthermore, another aspect that we seek to improve is to have a better supplier for the essential resources such as water and the tea-leave salad ingredients. Having a reliable source for your business is important especially when the consumers turn up in large numbers (Loucks, 1999).
References
Frey, B., & Osterloh, M. (2002). Successful management by motivation. Berlin: Springer.
Kurbel, K. (2013). Enterprise resource planning and supply chain management. Heidelberg: Springer.
Loucks, O. (1999). Sustainability perspectives for resources and business. Boca Raton: Lewis Publishers.
Suri, G. (1973). Wage incentives: theory and practice. New Delhi: Shri Ram Centre for Industrial Relations and Human Resources.
Wilson, P., & Bates, S. (2003). The essential guide to managing small business growth. Chichester: Wiley.
