Running Head: Business Plan

Business Plan

Students Name

Institutional Affiliation

Course Title

Date
Business Plan 2

Payment Options

Payment is one of the critical components of any organization involved in the purchase and

sale of goods and services. Choosing the best payment options determines, to a greater extent,

the success of that organization. This being no exception, we intend to provide the best payment

options for our customers as well as suppliers. We shall incorporate several payment options that

suit respective customers and suppliers. There will also be monitoring of payment to ensure that

funds are sent to the right account to avoid any quarrels that may arise thereafter. Our payment

options are described below:

i) PayPal

This is one of the most popular payment options, fast-growing, and many people prefer using it.

It is flexible as it allows people to send money anywhere in their comfort. Due to its popularity,

the majority of both our suppliers as well as customers will accept it.

ii) Amazon Payments

Just like PayPal, amazon offers wide coverage, and many people can use it. It is flexible, and

people can use it whenever they want to make payments. Our customers will use it, and we will

maintain its monitoring to keep track of all payments received.

iii) American Express

Though not popular, American Express has won the trust of many people. Due to its trust among

the people, it will be a convenient means of payment to be used by both customers and suppliers.
Business Plan 3

Branding of our Firm

Branding a firm, business, or any organization involves the idea of selling out to the

public what good/service is being offered. The right branding techniques determine how many

customers can be lured or convinced to purchase the product[ CITATION Gas18 \l 1033 ]. In

choosing our advertisement means, we put several factors into consideration. First, we consider

the target group; in this case, elders aged between 35 and 70 years and children. We thereafter

look at coverage of the various means and the price of each. Based on our research, therefore, we

will use newspapers, television sets, direct mail, billboards, radio, and online advertisement. We

expect heavy expenditure on an advertisement during the first few months before the business

hits boom and before the majority know of its existence. We are well aware of the role played by

'mobile, social, and local' to the business, and, therefore, all this will be taken care of. We shall

have a page where our customers will be allowed to input their reviews, as this will serve as a

means of the convincing majority of other customers. We will also guarantee delivery of our

product for those around our business stores and for those who are far, delivery will attract some

delivery cost though cheaper.

Legal/regulatory issues and ethical challenges that will affect your business

As a business operating on a global scale, we expect to go beyond our local boundaries.

We have an understanding that different governments have different standards for business

operations[ CITATION Bre16 \l 1033 ]. With this knowledge, we do not expect to spark conflict with

any government, but rather we aim to abide by their respective standards as we maintain our

objectives and keep working on our mission, vision and guided by our core values, which will

not breach any code of ethics put forth by any government. Ensuring privacy is key to any

business, and, therefore, we expect government regulatory bodies to be keen on how we will
Business Plan 4

ensure that information will not leak out of our systems. We shall, however, have measures in

place to ensure that privacy is given priority. Norms are often specific from country to country

and culture to culture, and we always strive to be flexible to accommodate the different norms to

facilitate customer satisfaction. Some of the ethical issues we expect include but not limited to

outsourcing, working standards and conditions, workplace diversity and equal opportunity, child

labor, trust and integrity, supervisory oversight, human rights, religion, the political arena, the

environment, bribery, and corruption. These might be controversial issues, but dealing with them

is key to our success, and therefore the best way is to shape our values specific to every country

as per their ethics to avoid any conflicts that might arise.

Human assets

Human capital is important because some level of human knowledge and skills is

necessary for an organization to accomplish anything[ CITATION Per19 \l 1033 ]. The success of

our business venture will depend on human assets at our disposal: right from a top executive and

down to the salesperson. We have gathered the best available human capital as per our product

and our target area. We need personnel who have information in international trade to advise us

as we cross the local boarders. We will also need IT experts, to manage our website and monitor

our daily activities. In addition to the aforementioned personnel, we will also need people

experienced in the sales and marketing of products (salespersons). We will also have a board of

directors whose mandate will be making major decisions concerning our business operations.

The board will also be in charge of hiring top management officials and representing the

business in any joint initiatives. Our business intends to form a partnership with Samsung,

which is well known in the technology industry. We shall work closely together to see that our

business becomes more successful with the help of this already established company.
Business Plan 5

References

Brenkert, G. G. (2016). Business ethics and human rights: An overview. , 1(2). Business and

Human Rights Journal, 277-306.

Gashi, A., Behluli, A., & Fejza, J. (2018). IMPACT OF CUSTOMER ADVERTISING FOR

BUYING. Knowledge International Journal, 24(1, 111-116.

Pereira, V., Temouri, Y., & Patel, C. (2019). Exploring the role and importance of human capital

in resilient high performing organisations: evidence from business clusters. Applied

Psychology.