Business Plan For The Medium Sized Company - Myassignmethelp.Com

Question: Discuss About The Business Plan For The Medium Sized Company? Answer: Introduction A structured business plan creates the significant value of the business products or services. Having a vision for the future business determines the long term sustainability in the competitive business ground (McKeever 2016). The act of planning helps business to think concepts or things thoroughly. JAXON is a company which deals in construction it is necessary for the company to have the business plan for growing more in same field. JAXON is a company which operates its business small and large scale construction, repair and alteration projects. There are 200 employees who are working in JAXON Company. Objectives of the Company The Company focuses on fulfilling the following objectives To establish the competitive industrial business with the high quality construction services in next 5 years To enhance the profit by 16% per year with minimum of 5% net profit To negotiate almost 80% of the total contracts for the upcoming 5 years The company is looking forward to build up the team that is much accountable, systemied, and more organized. Safety program for coming next year of JAXON should be excellent and along with that the equipment would be well maintained and high profitable (axon Construction Inc. 2017). In case if company has to transfer from one place to another, company will take help of its fund and with the help of advertisement it would be easy for it to make aware those people who are connected with its project. Executive Summary JAXON is the company which provides services to build residential area and large scale of accommodation projects. JAXON construction has two divisions that are commercial and residential (Goulding et al. 2015). The main focuses of commercial projects are hospitality, agriculture, retirement, retails and education. The main focus of residential area is low price apartments and grouped dwellings. It has a history of constructing not only for commercial building but also for government buildings that reaches back to the 60s. The biggest concern within the JAXON construction industry is the health and safety of its employees. JAXON offers comprehensive services to finish the projects efficiently. These services include design work, remodeling, site preparation, design management construction, sales and leasing, marketing and asset management. The local commercial construction is considered as the booming at the moment (Fulford and Standing, 2014). In order to achieve the secured place in this environment, JAXON need to concentrate on some things that is secure at least four largest commercial contract over the next two years. Construction Company can enhance the marketing expenditure by 10%. In its current form, JAXON group is operating it business in three sections that is JAXON Construction, JAXON Civil and JAXON Property that operates in number of areas such as commercial, residential and the sector of property. It is the aim of the JAXON group to enhance the number of clients by providing excellent services (Gao and Low 2014). It can be done to provide innovation building solutions by keeping value of money. This business plan will be helpful to layout our values and aims to make this transition successful and build efficient market share to sustain in this highly competitive market. Company Structure JAXON Group has been maintaining the lean management structure. The company has reduced bureaucracy for making the easier for the workers to communicate with the decisions makers. The permanent workforce includes about 60 professionals, clerical staffs, technical staffs, and construction staffs (Builderswa.com.au 2017). The decision maker or the project manager is the head for a particular construction project. The management structure is shown below. Diagram 1: Lean Management Structure of JAXON Group (Source: Builderswa.com.au 2017) The associated staffs will be reported to the project managers directly. The regional office or the head office stands in the top position of the hierarchy level. The project manager or the decision maker maintain the instruction and accordingly structure the project. The instruction is further provided to the associated staffs who are involved in the construction process. The systematic planning and scheduling of the process is determined by the project manager. Finally, the work performance of the construction staffs would be monitored. The performance result would clarify whether it is necessary to make any improvements in the project work. JAXON is a company which provides efficient services by delivering solidity built and high quality structure for all purpose of uses. In starting year JAXON started work on commercial tender work. At the same time JAXON put focus of to make position in housing construction and got success to build 8 to 10 houses weekly in the area of metro. In 1968 JAXON set up an office at PortHedland. In 2005 JAXON acquired by Doric and all the commercial projects got separated from JAXON but in 2011 JAXON separated from Doric group (Jaxon Construction Inc, 2017). SWOT Analysis of the Company Strength JAXON has financial stability because it operates its business not only in one section; it has three sections in which it is working. These are construction, civil and property division. JAXON is not working only for commercial purpose but also for residential purpose (Santos and Laczniak 2015). The main strength of JAXON Company is safety, unity, excellence and respect. The main aim of this company is to make satisfy their customer by providing effective services. These services are durability, safety and lightning, beauty, load carrying capacity and parking garages. JAXON has many clients which give it great deals to construct new houses, schools, residential area and many more. Recent clients of JAXON are Frasers property group, Woodside, Public transport authority, Downer Mouchel, University of Western Australia, Access Housing and Minderoo (McKeever, 2016). The term of the company is related with private, government and range of industry sector. With the help of its strength, it can become easy to company to grow easily in same field because the reputation of the company in same filed is exist since 1968 which is great deal. It is the company which know that how to take competitive advantages. Company has been expanded itself for instance it offers civil construction services for infrastructure projects (Ball, 2014). JAXON Property provides a comprehensive integrated service that is tailored to the needs of each individual client or joint venture partner. Chart 1: share of new property sales of Australia Source: (Fulker, Timur, Dew, and Butler, 2016). Weakness It has been observed that f one construction company do business in same construction for a long time that leaves it vulnerable to a slowdown (Gao and Low, 2014). As it deals with high range of products, high cost structure is the weakness of the JAXON company. However, JAXON is using modern machinery to construct building but the uncoordinated workers are the other reason of its weakness. It deals with high range of products. It is required to provide high level of safety to workers but it has been observed that the safety procedures towards its workers are less comparison of other things (Santos, N. and Laczniak, 2015). Opportunities JAXON is a positioned company and well established. It would be opportunity for it to expand its business in all over the world. JAXON is not only working with government sector but also perform its task with highly repudiated private sector. In initiate way, company can shake its hand with well player of Construction Company and after winning their trust on its project; JAXON can contract directly to clients. JAXON can enhance the number of employees for initiating new projects. Apart from that reliable investor and favorable contract terms can be the opportunity for JAXON Company. Threats There can be so many factors which may influence the JAXON construction company in the form of threats. It can be government policy, high level of ground water and natural disaster. These are the forms of threats which JAXON has to face in the progress of the company in the area in which company setup has strong influence. Apart from that there can be other things which can take the fro of threats, it is difference in technical standards and lack of efficient engineer and contractor. Components of the Company The analysis of the components signifies the efficiency level of the organisation to remain competitive in this changing business scenario. The following components are needed to be taken into consideration. Use of the Opportunities JAXON can use above opportunities by setting target market. JAXON Company is known to deal with small as well as medium scale project. Company can expand its nature and scope through designing services specifically. These specific designs should be targeted families, organization, land owners, education campus and businessman as well as businesswoman. It will increase the interest of investor not only within the country but also in all over the world (Fulker et al. 2016). New projects with new technology, culture and structure will enhance the interest of investor to invest. To grab the opportunities, it is necessary for the organization to focus on competitive advantage. Sales and marketing strategy has been implemented by JAXON Company to achieve the aim and objectives, it provide the session of training which will be facilitated to them to know the objectives and norms of company in depth. JAXON Company can adopt number of strategies of sales and marketing including promptness in bidding process and leverage on the internet. Changes to Make JAXON is a Western Australian leading construction company throughout the state over 50 years. The main focus of company is to deliver best quality services to its every component such as residential projects and commercial buildings consisting education field, health centre, retail and office throughout the state (Bajari, Houghton and Tadeli 2014,). JAXON is not constructing house, it is building communities. Offering the high quality products and services is the major strategy to attract more customers. Therefore, it has been observed that the company has been utilizing the opportunities for sustaining the competitive position. Providing the effective training and development session to the construction staffs and making them aware of the workplace safety aspects would reduce the risks of the accidental hazards at the construction sites (Fulford and Standing 2014). On the other hand, undertaking the systematic work functionalities and continuous improvement would be beneficial for accomplishing the project works. In such cases, few changes are needed to be adopted in the management structure. Appointing the performance monitoring team would be much appreciable to identify the potential risks in the business. The maintenance of the team coordination and efficient organisational culture would be much beneficial for improving the project works. Technology The development of the technologies is another key to success in this competitive business market. It has been observed that the people associated with the works at the construction area have been facing the accidental hazards (Ball 2014). The technological development helps in reducing the manual efforts and decreasing the risk of accidents. However, the associated staffs need to gather adequate knowledge about the use of these technologies. It would be much beneficial for them to work without hindrance. Moreover, the technological development helps in increasing the quality of the services as well. The high quality construction works would attract more customers that would count in the profitability parameter of the company. The company would be able to earn more money by drawing attention of more people. Conclusion It has been concluded that business plan is necessary for implementing strategy. It consumes time but the result of business plan will show the path of working systematically. In this business plan JAXON Company has been taken which is working in this field for many years. JAXON has strength and weaknesses as well but it is possible to reduce the effect of weakness with the help of strength. JAXON has mainly three components that is construction, civil and property. JAXON will maintain this construction component by following sales and marketing strategy. References Bajari, P., Houghton, S. and Tadelis, S., 2014, Bidding for incomplete contracts: An empirical analysis of adaptation costs, The American economic review, 104(4), pp.1288-1319. Ball, M., 2014, Rebuilding Construction (Routledge Revivals): Economic Change in the British Construction Industry, Routledge. Builderswa.com.au, 2017a.JAXON Pty Ltd - South Perth Builders WA. [online] Builderswa.com.au. Available at: https://www.builderswa.com.au/builder/jaxon-pty-ltd/590 [Accessed 13 Aug. 2017]. Fulford, R. and Standing, C., 2014, Construction industry productivity and the potential for collaborative practice, International Journal of Project Management, 32(2), pp.315-326. Fulker, D., Timur, A., Dew, K. and Butler, J., 2016, A Case Study of the Grey Oaks Community and Club: Creation of a High-Performance Culture Through the Innovative Use of a Data-Driven Business Pla, International Journal of Hospitality Tourism Administration, 17(1), pp.72-99. Gao, S. and Low, S.P., 2014, The Last Planner System in China's construction industryA SWOT analysis on implementation, International Journal of Project Management,32(7), pp.1260-1272. Goulding, J.S., Pour Rahimian, F., Arif, M. and Sharp, M.D., 2015, New offsite production and business models in construction: priorities for the future research agenda, Architectural Engineering and Design Management, 11(3), pp.163-184. Jaxon Construction Inc. 2017, Jaxon Construction Inc, retrieved on 9th August 2017 from : https://www.jaxonconstruction.com/index.php/management. McKeever, M., 2016, How to write a business plan, Nolo. Santos, N. and Laczniak, G., 2015, Marketing to the poor: A SWOT analysis of the Market Construction Model for engaging impoverished market segments, Social Business, 5(2).