Tech-Systems Company strategic plan
The business seeks a company in the same line of business (selling technical systems and offering services of on the same) in California State. The business is aimed at reaching annualized sales of 3 billion dollars and become profitable despite its current bankruptcy condition. The business seeks to employ people mainly engaged in marketing, Research and Development, support and administration to join the existing employees of the two companies after a merger. The company will offer quality products and added-value services to its customers throughout the business segment of the company. The products and services are aimed to be technically advanced and provide numerous clear-cut benefits and improvements over products and services of competitors within the same industry or line of business. This is aimed at expanding the operations of the business through acquisitions and organic growth in the future in associated market segments/technology. By this time, the company will have received mezzanine finance before a public offering.
The company will design, develop, and market advanced systems for transaction processing management and specialist data capture. The web-based systems will work with specialist hardware from key integrators. These will be sold to small, large, and medium-sized companies within the industry for a variety of specialist applications. The business systems will be distinguished from those of competitors by their interfaces that are sophisticated, ease of modification and scalability, and extensive patents.
The corporate values that will govern the development of the company will include operations in conformity with the highest rules and standards in relations with suppliers, customers/clients, environment, and the entire community. The business is aimed at fostering a climate that promotes diligence and innovation amongst personnel and reward accordingly.
The long-term business objectives of the company will include expanding the company aggressively and provide returns of above-average to shareholders. In addition, the company is aimed at becoming a leading firm in innovative systems within the industry.
Some of essential strategies that will be pursued by the company will include accelerating product launches by intensifying Research and Development team, extending relations with major technology centers, raising additional venture capital. Furthermore, other strategies will include expanding the management team in marketing and sales, recruiting non-executive directors, appointing advisors for finance and intellectual property, strengthening the function of human resources and introducing share options for personnel, and seeking new segments in the market and product applications. The company is also aimed at applying other essential strategies such as locating new premises, commissioning assessments of major markets, initiating participation in missions and trade shows, establishing market entry plans in other regions, pursuing alliances with other key players in the market, and strengthening their presence in the market/industry.
Some of the main goals of the business is to attain sales of 3 billion by the end of 2013and report profits of one billion annually. Another essential goal is to secure a large share in the market and become the largest supplier of the technical systems. The company also has among its goals to undertake an IPO in the next one and a half years, employing technically qualified people, and have sales agents in major markets before the end of 2014.
Marketing and Promotion Strategy
The company aims to utilize significant time and resources in marketing its products and services in the market. Being a company that promotes the application of technical systems in operations, the company will use a lot of technical systems to promote its services and products through the application of the internet and large media services. This will ensure that a majority of individuals get to know more about the company.
For any company, it is essential to note down the strengths, weaknesses, opportunities, and threats.
Some of the strengths of the business include: Research and Development are almost complete, key customers have been acquired, the company has a basis for a powerful management team, the company is situated near a major excellence center, there are exceedingly focused staff and management, initial products may emerge into a variety of offerings, and the business is well-rounded and managed.
The company has inadequate cash resources leading to overdependence on borrowing. This is the reason for the current situation of the company. In addition, the board of directors is too narrow, there is lack of awareness amongst potential clients, absence of strong sales, and overdependence on few personnel. However, these weaknesses will be overcome by the strategies proposed.
The market segment is on the edge of a dramatic growth, markets from other regions provide great potential, and there is scope to expand into associated market segments. These offer high potential for growth of the company despite its present state.
There are a few threats that face the company including existing and potential competition in the market, threat of obsolescent due to advanced technology, price sensitivity in the market, and threat of reduced demand due to slowdown of the economy. However, as in the case of weaknesses, the critical strategies proposed will reduce these threats.
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