List several strategic desired goals that Ted had for his motorcycle business: Wyatt intended from the start to hire, sell and repair mountain bikes to cyclists who utilized the attractive Washington Outdated Dominion Trail. By renting, selling and repairing bicycles in a important location when you use bicycles Ted expected to set up a market where there was none in the beginning.
Therefore, a main ideal goal was going to create a market for this organization. Knowing that the trails that connect with the Washington Older Dominion (WOD) lure outside activities and recreationalists might bring buyers who perhaps don’t have bicycles – or perhaps were visitors from from the area who owned bicycles but failed to have them on their visit – his initial strategic goal was to set up a market. There is certainly nothing in the narrative about Ted and his business that suggests that he needed to contend with other bicycle shops and rental businesses in his place; hence having been not aiming to strengthen his market share against other comparable businesses, but , as explained above, his strategic target was merely create a industry for the organization in a situated near commercial establishments area close to popular paths.
Secondly this individual expected, as a reasonable ideal goal, is always to use a SWOT analysis (strengths, weaknesses, options and threats) to identify what money he’d need (in a variety of scenarios) (Burris, 2012). Obviously his goal is to strengthen his financial resources – i. e., make a profit to first pay off the money he borrowed and later to invest the main city he obtained from the revenue and rentals of his bicycles in order to establish even more shops offering the same solutions in other communities in that region. Investing his own simple savings in addition to a loan of $4, 1000 was a good decision on his component because the Washington D. C. And Virginia area is highly urban, extremely busy as much as tourism and business, and people who enjoy the out-of-doors are known to seek out those pastoral escapes from the noise, the pollution, and the hectic urban targeted traffic in all those two sprawling cities.
A third goal was to use his expertise and technical knowledge to offer bike repairs and tune-ups. Though he gets the knowledge had to repair mountain bikes he plainly had a objective of training staff to conduct the business, to repair and sell bicycles, and to hire the bicycles to customers with customer-centric values and friendly customer attitudes.
TWO: What are five different types or categories of data Ted required and why were that they vital to him? Initially, of course Allen needed to know roughly what price he should certainly charge for rentals, based upon the cost of his overhead. He had to research the particular cost of booking the building would be and total what this individual costs will be to start this business. The thing that was it going to cost him monthly just before he rented or offered or fixed one bike? This was a pivotal class of information.
Second of all, Ted required to know if perhaps sufficient numbers of locals and visitors would have a reason to be in the area where he located the business. Consequently, he realized that with enough food and drink facilities (restaurants, bars, and also other related establishments) he could be guaranteed that people can be coming to the location. Location, area, location, is exactly what real estate pros and developers use as being a mantra and that was vital that you Ted.
Third, he would have to be certain that the WOD path was active enough to lure people that might wish to use a bicycle to enjoy the trail; not really everyone who likes the out-of-doors rides a bicycle, but some study had to be done to figure what percentage in the trail users (he could easily get raw figures on usage from county agencies) would be interested in using a bike. A next consideration was how much mark-up he would need to do to make offering bicycles successful. And a fifth concern would be what employee costs would be and just how much he would need to pay personnel to obtain top talent on board.
THREE: Three business processes Ted likely uses and how a technology option could help each of the three. First, Ted needed to decide exactly what he desired to do. This individual needed to provide deep considered to the development of his business principle. Secondly, because you never launch a business without a business plan, Wyatt needed to make a business plan specific to his idea and concept. With out a business plan, you “lack concentrate, overspend, and struggle to handle the curveballs that beginning and operating a business throws” (Beesley, 2012). The third procedure for course was securing the essential capital to acquire the business off the floor. The technology solution should be to build a website, which will help him travel traffic to his business through social media (Ted needs to understand how to have his business show up early on virtually any Google search). Through the web page he also conducts your research on the market so that he really does, who more is doing this kind of, what challenges have different start-ups confronted when introducing a similar operation.
FOUR: Two additional methods Ted may use the Internet. One particular, Ted should develop a “customer service and customer satisfaction” software application that uses info that every consumer provides (bplans. com). Every single customer’s email address is logged into that application plus the customer can be sent a form to provide brief (and simple to use) opinions on the quality of encounter that customer had. Two, he needs to establish a ideal online relationship with all his vendors, credit card issuers, shippers and also other merchants related to the business of selling, letting, and fixing bicycles.
FIVE: What could a supply string management (SCM) system carry out for his business? With a supply sequence management way Ted could possibly be made conscious of the cost as well as the flow of materials, and the storage of materials mainly because it relates to his inventory. His goods certainly are bicycles and bike parts, and apparel that goes along with riding a bicycle in numerous kinds of weather condition. What do customers require and how can this individual design a process that provides all the services and goods a customer requires? The helmets that bi-cycle riders have on, for example , will be part of the source chain; the other bicycle-related products has to be kept in Ted’s inventory. The upstream and downstream movement of Ted’s necessary products – and the providers he offers – needs to be meticulously managed by SCM software, that Ted will most likely need learning order to work with its operation properly. By keeping close track of all the capabilities of his business (through SCM), Allen can simply insight his products on hand and his needs into the application and where he stands at any moment in terms of needed materials (and supply from his vendors) is correct there on his computer screen.
SIX: How could Wyatt combine the knowledge he gets from clients with people who buy through his internet site – into a Customer Romantic relationship Management (CRM) system? Wyatt could incorporate his potential (from equally his local sales and online sales) into one soft software system. E-mails automatically happen to be sent out to potential customers who have use Ted’s social media work. The three points he can perform with CRM: a) he can “streamline sales” by not getting hung-up around the details; b) offer chat; and c) provide backlinks to his other stores with tourist and providers information instantly provided towards the online consumer (InfusionSoft).
SEVERAL: How can Ted increase fix work and rentals applying technology? Old Dominion Path Bikes should first of all give all workers with smartphones, which allow instant sending text messages, emails, and access to the Internet. Inner communication is vital to Ted’s three retailers and virtually any questions or concerns
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