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Legal Structure and Management of Nerd Patrol

University: University of Management and Technology

  • Unit No: 8
  • Level: Post Graduate/University
  • Pages: 20 / Words 5063
  • Paper Type: Assignment
  • Course Code: MGT190
  • Downloads: 79
Question :

This assessment will provide all the effective areas which are like:

  1. Make a business plan with the brief description of ventures.
  2. Elaborate the legal structure and the management team’s roles and qualification.
  3. Pro-forma all the cash flow that manage the projection in case first year in relation of operation.
Answer :
Organization Selected : Nerd Patrol

Introduction and brief description of the venture

Business venture should be initiated by properly planning things in accordance to the market and proper market research, business must be operated in a better way. It then provides desired outcome with ease. Nerd Patrol will be established in the Hong Kong market so as to offer computer and related services to clients in effective manner. The business plan for the proposed venture entails how organisation will effectively meet services of clients such as hardware repairs, debugging software problems, dealing with networking problems and related computer services for achieving customer satisfaction in effective manner.

The business will be providing computer services intending the need for professional, customer-focused organisation emphasizing on quality of services to be delivered to them (Lafuente, Vaillant and Vendrell-Herrero, 2017). In addition to this, company is on the brink of penetrating the lucrative market as IT and computer industry is growing rapidly. Located at Kowloon city in Hong Kong aspires to provide effective services to people so as to enhance their computer work in the best way possible.

The marketing strategy will be followed on ensuring what demand of customers are to be fulfilled and how it can be delivered to them at right place at right time. In addition to this, market penetrating strategy would be implemented to take market share quite effectively. The business aspires to expand within the span of three years so as to accomplish sales and revenue in abundant manner. Moreover, expansion will be made to more regions of Hong Kong in order to capture competitive edge over the market. Furthermore, it will then grab good amount of share in the market (Luftman, Lyytinen and ben Zvi, 2017).

Organisation of the business and key players

Owner- Role and qualifications

The owner of Nerd Patrol are three friends who will be starting to launch business of computer services to customers. John Robbins and Mary Singh are computer science majors which have thorough knowledge of computers. On the other side, Nabil Quresh has completed BBA and knows how to manage business. These three will get started organization in which John and Mary will handle computer services department whereas Nabil will handle the management in effective way. Thus, in accordance to their qualifications, roles will be met quite effectually.

Company legal structure

The legal structure of Nerd Patrol will be company limited by shares. This form of legal structure has been chosen as large amount of operations can be handled in a better way. Furthermore, expansion can be made in the future by having good quantum of investment in hand of owners (McKenzie, 2017). One of the major benefit of choosing company is that shareholders are liable only to pay up to the shares being subscribed by them and nothing more than that. In other words, liability is limited to extent of shares purchased. Moreover, for further expansion to regions of Hong Kong, Nerd Patrol could easily accomplish success and establish its firm position in the market.

Management team – roles and qualifications

Management team will consist of Computer Manager, Business Administration Manager which will directly correlate with owners so that operational activities are accomplished without any difficulties. It can be analysed that Computer Manager should have postgraduate degree in Computer Science. He should posses' communication skills to meet with clients, aid workers in performing their assigned work in a better way. Moreover, computer programming, data processing and system analysis are another skills to be possessed by him. While, Business Administration Manager should posses MBA degree and having good experience in field. The role will be to oversee administrative operations of organisation. Furthermore, to supervise day-to-day business operations quite effectually.

Employees – roles and qualifications

The employees will be from core IT fields such as Software Engineer, Systems Analyst, Business Analyst, Technical Support, Software Tester etc. All the employees will be hired on the basis of graduation in computer science or IT fields (IT job roles and responsibilities explained. 2018). Software Engineer has the work for designing and programming software, embedded system, debugging issues, edge over hardware and software etc. While, Systems Analyst has to investigate business problems and accordingly designing feasible solutions to it. Business Analyst has main role to improve upon processes and enhance business operations utilising IT. Technical Support will be hired to implement troubleshooting and maintaining workplace technology and responding to requests of users in effective manner. Software tester has role to remove bugs so as to enhance productivity of organisation. Thus, coding will be done and bugs will then be removed.

Contractors/vendors– roles and qualifications

Contractor will also be employed in company in order to provide customers with effective services. Computer repair technician will be done through contract which will handle all hardware work and server issues. The main role of computer repair technician is to maintain computer and servers which will be extended to new hardware configuration in premises, updating software packages and strengthening network. No such qualification is necessary, just good knowledge of computers.

Financials

Operating Costs

Start-up expenses

Amount (In $)

Legal fees

700

Website expenses

100

Business Cards

200

Insurance charges

200

Advertisement expenses

300

Total start-up expenses

1500

Start-up assets

 

Cash in hand

25000

Inventory

1300

Other current assets (CA)

9000

Total assets

35300

Total requirements for start-up

36800

Investment Requirement

Planned investment requirements

Amount

Capital

8000

Owner

8000

Furnishing facilities

1000

Purchase of inventory

2000

Meeting payroll

3000

Furniture and fixtures

5000

Total planned investment

27000

Anticipated Revenue

Proforma cash flow projection for the first year of operation

Projected Cash flow statement of Nerd Patrol for 12 months

REVENUES

January

February

March

April

May

June

July

August

September

October

November

December

Sales

10000

12000

14000

16000

18000

20000

22000

24000

26000

28000

30000

32000

Total revenue

10000

12000

14000

16000

18000

20000

22000

24000

26000

28000

30000

32000

COSTS

 

 

 

 

 

 

 

 

 

 

 

 

Rent

1000

1000

1000

1000

1000

1000

1000

1000

1000

1000

1000

1000

Payroll

3000

4000

5500

6500

7200

8000

8500

9000

10000

11000

12000

12800

Materials

500

800

1200

1500

1800

2000

2200

2500

3000

3500

4000

4500

Advertising

1500

1600

1700

1650

1800

2000

2500

2800

3000

3300

3000

3000

Website charges

400

200

700

800

900

1000

1100

1200

1300

1350

1200

1450

Bank charges

500

500

500

500

500

500

500

500

500

500

500

500

Tax

300

300

0

0

0

0

0

0

0

0

0

0

Direct expenditures

1000

2000

1500

2200

2600

2800

2900

3200

3300

3500

4000

4300

General and Administrative expenses

300

250

100

260

300

400

200

180

300

200

300

200

Telephone and internet costs

200

300

200

400

350

450

500

300

250

190

450

400

TOTAL COST

8700

10950

12400

14810

16450

18150

19400

20680

22650

24540

26450

28150

NET CASH FLOW

1300

1050

1600

1190

1550

1850

2600

3320

3350

3460

3550

3850

Opening balance

 

1300

2350

3950

5140

6690

8540

11140

14460

17810

21270

24820

Ending balance

1300

2350

3950

5140

6690

8540

11140

14460

17810

21270

24820

28670

Payback point

Month

Monthly cash inflows

Cumulative cash inflows

January

1300

1300

February

1050

2350

March

1600

3950

April

1190

5140

May

1550

6690

June

1850

8540

July

2600

11140

August

3320

14460

September

3350

17810

October

3460

21270

November

3550

24820

December

3850

28670

It can be analyzed that company will attain payback period between November and December which falls between 11 and 12. This is the case of uneven cash flows and thus, formula is implemented as under-

= 28670-24820

= 3850

Initial investment (planned) = 27000

= 27000/3850

= 7.01

Thus, 11.7 months will be taken to attain planned investment by Nerd Patrol.

Anticipated return on investment

Net cash flow for whole year comes to be 28670.

Return on Investment for present year can be computed by applying formula-

Net profit / Total investment * 100

= 28670 / 27000 * 100

= 1.01 %

Hence, it can be said that company will be able to accomplish adequate return amounting to 1.01 % in first year of operations. Thus, further it will achieve increased return on invested capital in next two years.

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Marketing/Sales

Summary of marketing/sales strategy

The marketing is required to be done by the business venture so that it may be able to attain higher amount of sales with ease (Greasley, 2017). Since, business will be started and new in the Kowloon market, it will implement social media marketing strategy which is the best available option to organization to accomplish desired marketing to all people with a glance by using social media channels like Twitter, Linked In, Instagram and Facebook. These will be used and marketing activities will be attained in a better way.

Marketing/sales requirements

  • Price-

Price plays crucial role as it influences customers to either purchase product or not in effective manner. In addition to this, Nerd Patrol has to attract good number of clients, penetrating pricing will be followed. This pricing strategy will be adopted as business is a start-up venture and in order to lure customers, lower prices would be applied which will easily influence them. This will be fruitful for company as customer's base will be maximised. Then after few years of operations, it can implement competitive pricing strategy. Hence, in initial stage of business, penetrating pricing will be followed.

  • Product-

The product is also an important part of marketing mix of company. Diversified products and services line will be followed such as hardware and software upgrades, hardware repairs, debugging software problems and dealing with network issues (Van der Wagen and White, 2018). This range of products or services will be offered by Nerd Patrol in order to satisfy customers in effective manner and thereby, attaining the highest amount of profits and gaining good market share. Moreover, it will offer quality services by customers would become loyal to it within short time span.

  • Promotion-

Promotion is one of the vital marketing mix particularly for new start-up like Nerd Patrol. It can be analysed that social media marketing is the best option for effectively attaining marketing and promotion of company's services. Apart from it, other promotional tools such as newspapers, TV advertisements will also be utilised for influencing customers towards the services of Nerd Patrol with ease. Thus, promotion will be done of company and its services, thereby, marketing tactics will be accomplished.

  • Place-

Place is essential requirement of company so that maximum number of customers may visit and avail services with ease. The office will be located in Kowloon city of Hong Kong which is a major city in it (Zhang, Zhang, Liu and Hu, 2017). This will provide business to attract lot of clients and due to main city, faster services will be provided quite effectually. Hence, place or location plays crucial role in marketing mix.

Competition

Competition is becoming fierce day-by-day and company has to implement well-crafted strategies to stay ahead of rivalry. It can be assessed that computer services industry is highly competitive and by implementing penetrating pricing strategy, Nerd Patrol can survive in the market. Along with it, productive and highly efficient employees will aid in achieving desired level of profits in the best way possible as overall performance of firm will be maximised.

Operations

Business Location

The location of the business will be in Kowloon city in Hong Kong which is the preferred location due to large availability of facilities in big city. This will aid Nerd Patrol to provide faster services within stipulated time and as a result, company may be able to accomplish stated goals.

Business operations

The operations' management is termed as administration of organisation practices for creating the highest level of efficiency in company. It means how business quickly convert raw materials and labour into goods and services as fast as possible and maximise profit of company in the best way manner (Rosca, Arnold and Bendul, 2017). It can be analysed that business will be engaged in computer services where operations are essentially required not to convert materials into services, but to stick around time and provide services thereof.

The hours of operations in the business will be between 9 am to 6 pm which will provide productivity up to a major extent to company and as a result, it will easily meet demands of clients. By meeting demand within stipulated time, customer satisfaction will be attained with ease. Operations are not only meant to attain efficiency and productivity, but it provides an overview and insight about business's activities (What Are The Business Operations of a Company?. 2018). It helps to assign roles and responsibilities of employees with the management of risk, allocation and resources in a better way. This will help Nerd Patrol to stick with budgets made and attain efficiency.

Operations are subject to change as business grows and expands in the future. It can be analysed that when business expands, roles and responsibilities also tend to increase which have to be carry out or perform by individuals in a team for better results. The specific procedure that will be followed in organisation consists of receiving customers' query, then personnels will analyse the same with regards to issues. Particular personnel will be allocated the work and by applying his own skills, abilities, customer will be approached with solution. Hence, customer satisfaction will be achieved by following such procedure. With regards special issues, technical support personnel will be approached and desired solutions will be provided.

Legal and sundry issues

Legal and related issues

  • Liability-

The liability of company arises in order to provide effective workplace to employees so that they may work with higher productivity. Apart from it, business will be taking borrowings from outsiders which will provide them funds to be repaid within stipulated time. It is required that such liabilities should be paid in order to avoid any legal issues.

  • Intellectual property-

Intellectual property implies copyrights, trademarks and patents which is used by company in order to attain proper rights over its own business. This provides prevention from any rivals trying to imitate products or services of company (Cooke and Huggins, 2017). By incorporating intellectual property, business will be able to attain an edge over its rivals and as a result, customers will be provided with distinct activities for maximising their level of satisfaction. It includes rights such as trade secrets, moral rights, protection against unfair competition in effecti

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