Individual Reflective Report In my course, I got the chance to prepare a business plan, and I planned to start a Chinese Clothing business in China within a group. We opted for this project because Chinese Apparel Industry is one of the developed industries of the world. After identifying potential growth in this industry, we have planned to start a clothing company. The report highlights our marketing plan of Men’s Apparel Company in China. The clothing business will deal with Men’s apparels lines such as distressed look t-shirts. The report shows that our company will have the advantage over other similar companies because we will offer trendy men’s clothes, designed by our designers based in the UK.
Moreover, we aim to introduce European fashion and trends in Chinese market, where the stylish men’s brands are rapidly growing. Therefore, the identified competitive advantage of our brand will be dynamism, quality and trendy styles. The identified target market of Coalesce Clothing comprises of men between 18 and 34 years of age. The report shows that for the success of the company, a strong management team will be created.
Good professionals through their expertise and skills will create a strong brand position in the Chinese market. The structure of the organisation will be flat and horizontal to enhance the easy top, down and bottom up communication. The market plan discussed in this report shows that through aggressive promotional strategies, penetration-marketing strategy and impressive sales strategies, the company is expected to make positive revenue during its first year of operations. This report also discusses the critical risk factors faced by Coalesce Clothing during its operations in China.
Throughout the report, a great focus has been given in identifying the business needs to start a registered company in China. Finally, the exit strategy of Coalesce Clothing has been explained, which says that buyout options will be provided, if investors insisted to get back their initial investments. Whilst working on the project, I gained abundant of skills including an understanding to theoretical concepts, communication skills, group working skills, project management skills, interpersonal skills and analytical skills. In short, in my career, this project has allowed me to think out of box and to develop a sense of learning.
Acknowledgements After completing the project, I would really like to say thank you to the people who have really helped me throughout my project. This project was a great learning opportunity for me and it was very informative and useful. I believe this project has played a very significant role in my personal and professional development First, I would say thank you to God, Who has given me the capability and strength to work successfully on this project. Second, I would like to say a big thank you to ….
for being a great supporter and for providing me a big opportunity to learn and experience a practical work. I would also like to appreciate the support of my all team members, who have allowed me to become a part of this team and who have supported me throughout my work. Introduction and Background During my course, I have been assigned to create a business plan of a new company along with some other group members. With our combined willingness, we divided the tasks among ourselves.
However, we have done all tasks in team and none of the task has been done by only a single team member. This project has been assigned to use to give us an understanding of how to get started in real word. The project entails working about 3 days a week starting on. .. to. .. It covered the total duration of … Role and Responsibilities Since different tasks have been assigned to different team members, my role is to act as a resource person, which involves the responsibilities to provide the information to all group members, so that we may keep our work cohesive.
In this way, I got the opportunity to be involved in all sections of the project. Moreover, marketing plan, financial budget and operations plans were developed in groups after discussions. Each member is responsible to write the report of his/her own part, so that it may appear as a combined effort. Like other team members, I was also involved in providing my ideas and opinions in the development of business plan.
Skills and Knowledge Gained This project has provided me a great opportunity to enhance and develop skills. Overall, from this report, I have learned the step-by-step process of launching a company. I have also learned to write a report. By working in a group of people with diverse skills and personalities, I have found a great improvement in my communication skills, teamwork skills and coordination skills. I have gained a good understanding to use the Microsoft Word. I have realised that my analytical skills have actually improved after doing this project.
This project covers the concepts from various courses such as the financial statement section has refreshed my concepts of finance. In short, I have really learned a lot from this project. Objective Assessment As mentioned earlier, the scope of this project was to create a business plan for a new company. I do think the scope is very specific and after completing the project, I do believe I have successfully attained my objective. This project was really challenging however, by keeping the objectives clear, I tried my best to keep myself in the right direction.
Career Goals This project has really helped me to understand how to launch a company. After gaining professional experience, in the long run, I have a goal in mind to start a new company. Therefore, whilst working on this project, I was realising that it would help me in my life and career goals. Although, I would not mind where I go in future, but at least I have learned a lot from this small but truly informative project. Working Hours Following is the calculation of hours required for this project: Week1 - 16 hrs - 2 days Week2 - 32 hrs - 2 days Week3 - 48 hrs - 2 days Week4 - 64 hrs - 2 days Week5 - 80 hrs - 3 days Week6 - 96 hrs - 3 days Week7 - 120 hrs - 3 days Week8 - 144 hrs - 3 days Week9 - 176 hrs - 3 days The total number of hours required for this project is ….
From …. 2010 to … 2010. I have approximately … hours to complete this project.