Business plan "men clothe " shope name is men club its in sydney ,Austrilaia Essay Example

Business Plan cont

Mission Statement 

The mission for the business is to create sustainable versatility and comfort for casual wear. The mission statement is ‘sustainable growth and profitability through provision of superior brands, developing stakeholder relationships, efficient customer care, innovation and commitment to quality.

The vision of the business is to be and remain a market leader in the clothing industry while remaining committed to serving quality, investing in innovation, meeting the needs of the customer and establishing sustainable competitive advantage.

Core objectives and Business strategies

The core objectives and strategies of the business are

  • To design, produce and market quality male t-shirts and jeans

  • Developing collaborative relationships with stakeholders such as employees, customers, suppliers, marketers, shareholders and investors

  • Offer unique, inimitable, valuable and costly to substitute male casual wear

  • Motivate to be creative

  • Develop a strong customer base and expand the market share

  • Comply to applicable legislations and foster an effective occupational health and safety climate for employees

  • Increase profitability

Distinctive Competencies 

  • Make use of environmentally friendly raw materials

  • Use of modern technological solutions during designing, production and packaging of the casual wear

  • Products are created in compliance to International Standards on quality, favorable working conditions and adherence to environmental standards

  • Efficient production and delivery of quality products that are produced by qualified, skilled and experienced personnel

 Economic and regulatory environments impact

Any business organization is prone to impact by its internal and external environment. Challenges arising from the internal environment can effectively and efficiently be resolved by developing a favorable working environment that fosters effective communication, encourages collaboration in decision making and solving problems, enhancing teamwork, motivates the internal stakeholders, encourages training are vital for countering internal barriers. The external environment entails the political, legal, economical, social, technological and ecological factors that may have direct or indirect impact the business.

Impact of the economic environment

Australia has an economy that has a gradual but steady annual growth rate that is favourable for business since, the population has substantial amount of disposable income that encourages spending in housing, education and clothing as basic needs. Since the business is located in Parramatta Westfield, a busy but also a reputable area known for shopping, the business is anticipated to do well. The conducive economic climate in Australia in terms of stable inflation, exchange and interest rates, make the location worth venturing in.

Impact of Regulatory environment

The regulatory framework and systems in Australia are not only efficient, credible and reliable, but also, friendly to investors. The time taken to build a business in Australia is a maximum of three days. Transactions by financial institutions are flexible and transparent making it easy to do business from any corner of the country. There are regulations in Australia that the business will take advantage of which includes transfer of loyalties, capital repatriation and capital flows and transfer of royalties among others. Nevertheless, it is important for the business to comply to set regulatory policies and frameworks like the consumer protection acts and taxation among others.

Industry analysis, trends, growth opportunities

The clothing industry in Australia is extensive and competitive. The barriers to entry are high which constitutes of the high capital requirements and relatively strict government regulations. The bargaining power of buyers is high since they are easily accessible to substitute products and there are no switching costs. The supplier bargaining power in Australia is relatively low hence, a plus for an upcoming clothing business. The rivalry among competitors is high with large local and international clothing firms setting camp in Australia. This challenge of stiff competition can be overcome by investing in innovation, integrating technology and developing unique, rare, valuable and inimitable male casual wear.

Growth opportunities lie in making smart casual wear for men. This is particularly important as the working environments are less strict, liberal in the type of clothes both men, and women wear to offices. Smart casual wear strike a balance in toning down the complexity of a suit and inducing a leisurely feel common in casual wear. This balance that the smart casual wear has is unbeatable.