Essays on (Reflective Diary) Assignment

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April 12, 2012.This work is a complete business plan that is into details on the current market needs and how they the company is ready and prepared to tackle the problem of car theft. The plan can be very successful if it well executed. This is shown in the analysis done about the potential clients and consideration of the competition in the market. Strategic alliances have also been put into consideration as they are the ones that will ensure that the plan is well supported and it works. The demand has also been evaluated before the actualization of the plan and this is very important as it helps companies to know the number of potential clients and whether the demand is short term or long term to sustain the business. Analysis of SWOT is one crucial step that many people and organizations fail to do.

In this case the Youtrak Company has evaluated their strengths and weakness and has looked into ways of how they can make these to work for them. A good example is how the company is thinking of forming an alliance with its suppliers and so they do not have a formal relationship with them.

In this the Youtrak company plans to have an alliance with the suppliers so that they can be able to operate effectively. In terms of opportunities the Youtrak Company plans to expand its business across borders and even outsource from countries that can provide cheap labor. Another opportunity that the company foresees is the tracking system for lost children. Youtrak Company plans to track children as this has been very rampant in the country.

In this manner they plan to be a security company rather than just a car security company. This business plan is potentially viable because it has taken into consideration so many factors that come to play when the business becomes real. This includes things like the demand, opportunities, pricing policies and also their strengths as well as their weaknesses. Having evaluated the idea mathematically before the actual implementation is important in ensuring that the idea works. Youtrak Company has calculated the expenditure in this business idea and the capital requirement as well considering where these finances will come from.

They have even gone to an extent of doing a calculation of breaking even revenue and this way it means if they implement what they have it can work so well and they will definitely reap the benefits (Kelley, 2003 pp. 123). This business plan does not only show how they will achieve their targets but it also documents how it will expand its business, who are the potential customers, analysis of the market and the expansion opportunities for the future growth of the company.

Youtrak has given a product overview and this will help the potential customers in knowing what they are getting into. Having formed alliances shows that the plan is secured for future as this guarantees creditors that the businesses is ready to start. Securing lenders and providers of finances is one crucial step that gives confidence and trust to the people and customers that are willing to associate with the company. This assures the company of support and so it can easily progress. In relation to this the Youtrak Company is well set and ready to work and the idea seems very much viable (Kelley, 2003 pp. 123).

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