Company Objectives
The main objective of the study is to determine if our product would be feasible in the business field. Thrift and Style is a start-up business that consist of young adults which aim of becoming entrepreneurs in the future as well as in the present while believing in one's goal of selling good-quality product.
Market Aspect
The goal of Thrift and Style is to provide many variety of an on-the-go outfit that suits the style of the customers. Instead of buying new one with an expensive price in some emergency situations, buyers can immediately buy alternative products with an affordable price but in a good quality. By having an on-the-go asset can easily attract the attention of many customers because they can save time by cleaning it. With that strategy, we expected to increase the sales of our business and to be well-known in this field.The Thrift and Style will be using promotions to persuade the potential customer.Personal selling and sales promotion are used in order to encourage buyers. Thrift clothes are already washed and ready to wear once you buy it. There is a lot of promotion and ways of introducing our business to the market which may cause an increase on production cost.
Technical Aspect
Technology plays an important role in every business operation. Technology is a great help for everyone because it will become easier to interact with the customers and clients. We can promote the product that we sell through social media websites. It will benefit the business by creating a stronger public image when the customers use technology to interact into the business. We also want to improve the ads that we have to promote our products and business using online platform like Facebook page for more information and the orders that the customers want to avail. With that, potential customers will recognize our business.
Management Aspect
The Management aspect is one of the most important things in establishing a business. Management involves directing and controlling a group of one or more people for the purpose of coordinating activities that will accomplish a goal.It includes planning, organizing, leading and controlling to make the business be organized and to avoid bankruptcy. Establishing successful sales and marketing methods and policies - from pricing and advertising to sales techniques are essential in growing a business.
In running a business, leadership-skills is important, the manager should be calm and positive when encountering problems. Managers need to empower their team to handle those tasks.
To be successful in business management, we need to have good organizational skills. In our career in business management, we will have to keep track of many things at once. We will need to stay on top of multiple projects and ensure nothing falls through the cracks.
Financial Aspect
In starting a business, the objectives of financial aspects needs to be focus on all the start-up expenses and it needs to be recorded. If having lack of experience on how to handle money, we can hire a financial expert that will help to run the business properly. Determine the gross profit by looking for the exact percentage that we wanted to mark-up.
The purpose of financial aspect is forecasting the risk that will come so that we can prepare and look immediately for the perfect solution of the problem. It focuses on long-term health and ultimate survival. The stocks need to be monitored to avoid run out of stocks. It needs to have more supplies in demand items so that, it will earn a lot of income.
The main goal of this financial aspect is to return all the investment and to earn profit. We need to make sure if the business become wider, the income become bigger.