Building a Company Essay
- Length: 10 pages
- Subject: Education - Computers
- Type: Essay
- Paper: #29496304
Excerpt from Essay :
planning, assessment and measurement of proposed idea plays the most important role. Steve Jobs, Michael Dell and Bill Gates are renowned names for their ideas in computer businesses. But in fact there is no mystery behind any successful business; just you need is the right procedure and decisions to follow.
Preparing a business model is the first step towards the path of successful business. However, before you start developing model one must estimate whether idea has the potential to return enough value to the business, sponsors, stakeholders and customers. For this purpose, one must do complete research of the target market.
This assignment is based on building a computer company that would supply desktop, PCs, software and hardware parts to the customers. It first requires identification of target market and needs whether there is an opportunity for this business. Develop model and structure your business accordingly; how the hardware and software products will be delivered to the customers in an efficient and cost effective manner. You may also consider services provided by the Small Business Administration or Planner Websites to ensure the right path to business success.
Steps to Building New Business
In order to start your own computer business, first you need to assess whether you have enough abilities, skills, and product knowledge and market expertise to run a computer business. You may also search for other business models to apply on your own business operations. Franchise, retail shops or personal website are some of the options.
Secondly, you will have to conduct market research and decide what core business strategy can help in positioning new computer business in the market. For example, go through the economic indicators available at the census.gov website. As according to the statistics, there are more than 75% of U.S. households who owns at least one computer. You may also find close statistics of your any selected target market. Consider different age groups demands and target the one that may add value for your business like during 2000 to 2008 the needs of computers among age group 55-65 increased by 33.3% in U.S. which is large enough and build opportunity for the computer business.
In our case, we are planning to establish computer hardware and software business in UK market that would deliver computers, PCs, desktops, hardware parts and software to the individuals and institutes. Moreover, the company will provide repair services to the customers.
Customers are always in need of cheap services and the one that they can avail at their doorstep. This business will focus on this aspect of customers' needs and facilitate them as much as possible. Customers will be able to place their orders through website and be delivered with the product at home. Moreover, in case of repair services they will be able to take online help or get assistance at their doorstep.
After we get confident about our idea, target market and business model, it is then time to write business plan. Business plan adds in description about the business, services and products, operational plans, financial plan, resources, budget and stakeholders information.
Business plan document has high importance since it portrays the success chances of business. Sponsors and stakeholders decide to invest in any business after going through the business plan. Therefore, one must present the business plan in a way that highlights plus points and show risks as a minor issue. Moreover, it must emphasize on core competencies and show how the business can make difference and make profits so that to attract stakeholders.
At this stage of building your business, one needs to choose the name for the company and also register it. The name chosen for our business is "Technology Services."
Scope of Business
Though there is a tough competition in computer and technology market in UK and it is hard to position new business but still there is high opportunity for computer hardware, software and services businesses. UK accounts for 4% demand of the globe in computer hardware and peripherals. There are number of manufacturers from U.S., China and South East Asia who sell their computer products in UK market. Still there is a high scope of computer business in United Kingdom. Moreover, the Government has started many new programs like national project for IT for National Health Services and so on that would create more opportunities for new computer businesses in UK. Currently, there is a high demand of tablets, notebooks and other computer accessories in the UK market. The demand of portable PCs has been increased up to 7.1%, however the desktop sales has been declined by 5.6%. Therefore, we would emphasize more on the latest trends that is portable PCs, tablets and notebooks. (Global Trade, 2012)
There are different options available that we can avail to set up our business that would provide with resources and financial help. Business.gov helps in setting up legal structure for the computer business for example setting up sole proprietorship, partnership or Limited Liability Corporation. Once we register the name of the business then we need to get tax identification number so to pay out local, federal and state taxes.
Initially, the business requires large investment but once it will establish then maintenance costs won't be too high.
Next step is intended to make your business popular. Marketing is one among the most important functions of new business. As according to experts, major portion of resources should be expended on marketing the business. In case of UK computer market, marketing calls for more importance since there is tough competition and there are number of manufacturers already operating in the market so a new business needs to put in extra efforts to make it place.
Website adverting is the most common practice nowadays. Business is now considered incomplete without website. Moreover, establish networks so that to develop business referrals. Also, there is a high need of establishing expertise in relevant communities.
Operation Management includes the product and services management. It focuses on improving the efficiency and effectiveness of processes. Since, it is an era of technology. Every process is efficiently carried on via internet facilities. Moreover, every other business also deals via emails and messages. For example Dell and Apple are dealing with the customers from all over the world via their website. Website and online operation management not only ensures quick and efficient services but also saves much resources and costs.
Considering the importance of online dealings, our business will also establish a network and deal with UK customers via website medium. In simple definition network is basically the connection between computers that makes sharing files and communication easier and faster. Networks at different locations are connected together using services provided by phone companies and thus people can easily communicate to any person in the world through emails or video conferencing.
Even a small area network can also contribute in business by saving time and improving communication between customers, employees and suppliers. Networks also help in increasing productivity and opening new paths to potential customers.
The most basic network consists of at least 2 computers, interface cards, cables, hub and network operating system software. As more and more computers are added to the network, one computer is reserved as central storage point for application programs and files and act as a server. You can connect peripheral computers to the dedicated server computer and then you would not require outfitting other peripheral computers with extensive storage capacity. Moreover, you can also connect several printers and share other hardware devices with a server. Even without the dedicated server, computers can share files, email, copy files into each other hard drive and use printers through peer-to-peer connection. These network techniques help small businesses save much of their cost, resources and time.
Wiring and Cables
Choose the right kind of wiring and cables for your new business. Consider your present and future needs while plotting a network. There are mainly three types of network wiring that are twisted pair, coaxial and fiber optics.
Twisted pair is used as a standard in new installations. There are several standards of twisted pair that are unshielded twisted pair Category 3 wire and Category 5 wire often used for phone lines. In relation to twisted pair, fiber optics is mainly used for larger networks. They are highly fault resistant and are mainly used to connect desktop workstations to the network or to create link between adjacent buildings. Though fiber optics is much reliable but is expensive as well.
Since, our computer business has high opportunities and thus expected to expand in future. So, it is a good choice to employ fiber optics at office.
Network Interface Cards
Network Interface Cards or NICs are normally installed in computer's case that lets the computer to interact with other computers. Again, when choosing NICs, you need to plan ahead. But it depends more on the choice of wiring since Ethernet NICs support only Ethernet connections and there are…