In this case, the company is continuously interested in investing in its employees through specialized training programs that can help them and the company to achieve the best professional results.
For other issues, related to technical, legal, or other matters, the company uses collaborators, so that the company's organizational structure is not charged with divisions whose presence is not permanently required within the company.
The company's headquarters is located in New Jersey. The company owns a lab where the products are developed and tested, and a production facility, located in the same city. However, these facilities do not operate with cutting-edge technology, which is considered to be a weakness for the company, given the fact that it must compete with companies that are able to reach higher technological standards.
Given the circumstances, it is obvious that the company must make serious financial investments in upgrading the production facility. However, the company is not currently in the financial position that would allow for such investments.
The development and implementation of the new e-shop is designed in order to reduce certain costs. As a consequence, if financial and sales target are met, the company will be able to afford the upgrading of its production facility.
Product Design and Development Plan
The team is consisted of a marketing expert, a web designer, a financial manager, a software engineer, and a CRM specialist.
Product description. The e-shop will provide information on the company's products, their prices, and purchase and delivery related information. Other facilities that customers may find available on the website free of charge have been discussed above.
Product requirements. The general requirements of the e-shop are similar to any website's requirements.
Project schedule: e-shop theoretical development -- 2 months, e-shop actual development -- 1 month, e-shop testing -- 1 week.
Project costs: the entire costs of creating the e-shop, including its testing are estimated to reach $54,000.
Human resources required: given the fact that the product is basically a virtual one, the human resources involved in developing the e-shop are not numerous, and they are represented in the project team.
Risk analysis: the most important risk that must be taken into consideration is regarding the schedule. It is possible that the e-shop's launch date may not be met in case the testing of the product does not provide the forecasted results. Therefore, it is recommended to expand the testing period to 2 weeks at least.
Cash - $118,000
Tools and Equipment - $270,000
Accounts receivable - $53,000
Total - $441,000
Forecasted sales for the next 6 months following the launch of the e-shop - $97,000
Forecasted income - $90,000
Forecasted expenses - $50,000
Gross Profit - $47,000
1. Pitman, Simon (2009). The time…
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