Free Essay: Company Structure and Ownership

Published: 2023-03-29
Free Essay: Company Structure and Ownership
Type of paper:  Business plan
Categories:  Business Risk management Strategic management
Pages: 3
Wordcount: 702 words
6 min read

The company will be a limited liability company. A limited liability company (LLC) is a corporate structure where the proprietors are never individually liable for the debts and liabilities that result from doing business. The company will, therefore, be a hybrid entity that brings together the characteristics of a corporation with those of a sole proprietorship or partnership. Needless to say, while the limited liability feature will be the same as that of a corporation, the availability of flow by means of taxation to the management and operatives of a Limited Liability Company is a characteristic of partnerships.

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The Top Management Team

The top management team of the company will comprise the CEO, the Chief Information Officer, the Chief Operations Officer, the Chief Financial Officer, the Human Resource Management head of the department, the company chairman, the company president, and the vice president. These parties will be charged with overseeing the daily operation of the business.

Other Key Employees, Associates, and Relationships

After a period of five years, there is a chance that the business will have realized tremendous amounts of growth and development. As such, the number of employees in every key department will be increased by 100. These include Information Technology, sales and marketing, operations, transport and logistics, and human resources. Sales and marketing department employees will be in charge of maintaining customer relationships management (CRM); which suppliers will also be a part of.

Production and Operations

Production Plan

The company is looking to hinge its production plan on LEAN and continuous improvement. Also, there will be no cases of excess inventory because the production department will minimize inventory to orders made by customers, prototypes, and a few spare pieces for on-demand customers to purchase. logistics of Component Supplies, Inventories, and Distribution

Research and Development

Future Products and Services

The future of Acqua lies in product diversification. The company is looking to make more than swimsuits in the future. The products that the company will focus on in a bid to attend to a larger market share include swimming goggles, swimming snorkels, kickboards, mesh nets, floaters, bands, and digital timers. Diversification of products will engage existing customers to buy more products and lure prospective customers that may not fancy swimwear but other related products of the sport.

Future Geographic Markets

Acqua is very committed to increasing its online and physical presence towards customers. As such, the company will build brick and mortar stores in other parts of the world upon stabilizing its sales and income in the Australian market. The brick and mortar approach will be backed up by a strong online presence.

R&D Facilities and Personnel

Market research is very important because it leads to well-guided product development. As such, the business will engage 50% of its marketing team every three months to go out and ask the opinion of prospective and existing customers regarding what the customer should purchase. With information on what customers want, the company will be able to better the quality of its product portfolio and services offered to customers.

Risk Reduction Strategies

Risks Perceived

Given that this business will be a startup upon being established, there is a chance that the initial capital outlay injected will not be recovered after three months of operation. More specifically, the primary risk in this scenario is that the prospective consumers targeted by the business will not respond well in terms of making purchases. Without enough consumers, the lifeblood of the business, the business will be at constant risk of bankruptcy.

Proactive and Reactive Risk Strategies

The proactive risk strategy that the business will use is inventory management. The basic tenets of this concept resonate with the fact that the company has less to lose when it is inspired by a Just in Time approach. On the flip side, a reactive risk strategy will revolve around a second-mover price strategy.

Exit and Harvest Strategies

The primary approach that the management has in plan resonates with selling the business to a more well-established company such as Speedo or Under Armour.

This exit strategy will help the business owners to recoup their initial capital outlay. It will be an opportunity to start a business in fashion or in another industry.

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