Question

Take yourself as an entrepreneur, Please draw a business plan for one investment project you want to do.

Requirements:
1. Design a new company that relies on a certain competitive strategy (one of the
five) in a selected market.
2. Who is this company? Your vision and mission statement.
3. Describe the competitive strategy you have chosen.
4. Why do you think the competitive strategy suits well the market you choose?
Why do you think this competitive strategy will work well in this industry’s
competition?
5. Describe the key activities in realizing its competitive advantage.
6. How to realize the competitive advantage through managing key value chain
activities and value chain system?
7. How to make this advantage sustainable?

Answer 1

1) The competitive strategy for the company is cost leadership strategy

2)Our company is TINKER DUST.PVT which is into food industry . Our company will supply packed food material. Mission Statement: To offer reasonably priced quality food, served quickly, . Vision Statement: our product to reach globally

3)Our competetive strategy is Cost leadership which means establishing a competitive advantage by having the lowest cost of operation in the industry.

4)cost strategy suits well because every business wants to earn profitby decreasing or minimising its cost.This competitive strategy works well in food industry because allthough there are many competitors in food industry but our focus is to have minimum cost and best quality for our products , so we will be able to compete with the competitors.

5)a) analysing cost regularly, b)creating customer grievance redressal department,c)giving priority to customer complaints,d) not compromising on quality.

6)value chain analysis, There are five basic value-generating steps in typical business operations. They are: inbound logistics, operations, outbound logistics, marketing and sales and service so goal is to be the lowest cost producer or provider or one or more products at a particular level of quality.

7)By keeping close eye on competitor product and realising the cost are sold by competitors.