The paper "Mercury Textile Industry Business " is a wonderful example of a Management Term Paper. The name of the business is MERCURY TEXTILE INDUSTRY whereby MERCURY comes from the first planet while TEXTILE INDUSTRY indicates the type of business venture. The main objective of the industry is to produce high-quality products using state of the art technology to produce quality and affordable clothing for America’ s citizens and later for export. The location of the industry is yet to be decided by the owners, but the proposed location is near the supply of raw material such as cotton and wool (Covello & Hazelgren, 2006).
The opportunity of justification for this type of business comes after a market study and research finding that most clothes are designer made and are very costly for average Americans to afford. The rise in the number of schools going children, and sports clubs that require proper and affordable outfits is rising in America too (Pinson, 2008). This is the reason for having the desire to come up with this investment in the near future. Form of Ownership / Business Status The plans are to start the new business as an entrepreneur.
This means that I am the sole manager of the business and will manage all the profits of the business and eliminate cases of delay in decision making since there will be no consultations in making business decisions. He will also be in direct contact with his customers hence creating a good relationship with them. As a matter of enhancing the market and maximizing profits, the owner will link to other textile industries within the region. As the business owner, the business must be registered legally to the state authorities and be issued with relevant trading documents (Ogunkoya & Shodiya, 2013). Type of Business The business will include the manufacturing part whereby it will have to make all types of clothes including uniforms, suits, counter-suits, and all women and gents wear.
Moreover, the business will include the servicing part, which will include the recycling of old clothes (Taslak, 2004). The use of highly qualified experienced and competed human resources plus modern machines and facilities will ensure the production of high-quality goods under a state of art technology.
This will enable the business to enter the field of competition with other pertinent businesses hence expanding the market, maximize sales and profit (Maiyo & Imo, 2012). The business will be unique because it will not target a certain class of people but targets all kinds of people living in America. This gives it the advantage of selling their products to anybody who would want them. The availability of high quality and experienced marketing staff will ensure that customers are handled cautiously and with great concern of customers’ needs and standards in order to attract more customers and expand the market (Cebeci, 2009).
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