Friday, December 13, 2019

Innovation &

Question: Presume that you are going to establish your own company in the field of your expertise. Characterise briefly what the company should perform and how. Describe the organisational structure of your company. Answer: Project management Entrepreneurship involves the process of starting a new business (Drucker, 2014). I plan to start my own project management consultancy. A project management consultancy ideally involves providing guidance to corporates about the informational technology of various projects that they will undertake. The target market of our business would involve leading corporates who would be requiring IT help in their projects. Service industries like hospitality, restaurants, advertising, construction, healthcare and financial services would be specifically targeted (Wilson, 2016). The organization structure of the business defines how task allocation, supervision and coordination are directed throughout the firm. Our business would have various departments and each department would be given responsibility to target and cater to a particular industry. Within the department there would be sub-departments including marketing, sales, finance and customer service. There would be a finance department and a human resource management department to manage the finances as well as human resources of the organization. To begin with, the span of control would be limited to 4 people reporting to 1 person (Tyson, 2014). This number would be subsequently increased with the growth of the business. The sales team of different departments would target corporates of different industries via cold-calling, references and events (Armstrong, Kotler, Harker Brennan, 2015). Every department would have the autonomy to conduct various activities within the defined budget in order to attract customers. Once the client is on board, consultancy would be provided to the organization regarding the information technology part of their projects. Our business would be the IT support system for the clients from beginning till the end of the project. Our agenda would be to ensure that we are the one stop shop for all the IT needs of our clients. We would work towards developing solutions that would lead to enhanced profits of clients. For the consultancy service, we would be charging a fees from the clients. This fees would vary from client to client depending upon the nature of work, duration of the process, resources involved and overall cost of the project. 50% of the fees would be charged in advance, 25% of the fees would be charged after 30% completion of the project and the remaining 20% would be charged after the project is 80% complete. We would work towards ensuring customer loyalty by catering to their needs in the most effective manner. For our personal growth, we would ensure we take up challenging tasks to enhance our scope of services. Clients maximum profits and long term relationships with clients would be the main agenda of the business. References Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education. Drucker, P., (2014).Innovation and entrepreneurship. United Kingdom. Routledge. Tyson, S., (2014).Essentials of human resource management. United Kingdom. Routledge. Wilson, A., (2016).Services marketing: Integrating customer focus across the firm. United States. McGraw Hill

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