1. Resona, A Junior Achievement Company
2015-2016 inquiries@resonaja.com
910 75 Ave SW, Calgary, AB T2V 0S6 www.resonaja.com
A Junior Achievement Company
2. Resona Business Plan 2015-2016
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Table of Contents
Executive Summary Page 3
Mission Statement and Objectives Page 4
Executive Team Page 5
Marketing Page 7
Production Page 11
Human Resources Page 17
Information Technology Page 21
Finance Page 25
Over the course of the document, various pieces of concept art will be
displayed.
3. Resona Business Plan 2015-2016
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Executive Summary
Resona is a Junior Achievement company that promises to bring the best
sound experience to our customers in a way that is simple, elegant, and
environmentally conscious. Our acoustic bamboo speaker, the Resonance, is
for individuals who want to achieve premium sound without the hassle of
complex electronics. Our main competitors are electronic speakers, however,
Resona stands out due to the simplicity of our product, our social
responsibility, and environmentally friendly nature.
To accomplish this mission, we are using bamboo, one of the most renewable
and durable naturally occurring building materials available. Despite bamboo
being frequently thought of as an exotic product, we were able to locate
sustainably grown Moso bamboo from Chilliwack, BC. We also demonstrate
our social responsibility when compared to competing electronics. Minerals
found in electronic devices such as tantalum are frequently conflict minerals
exploited from places such as Congo, where armed groups fight over
hundreds of millions of dollars in profits. The Resonance, free from any
electronic components, satisfies the needs of conscientious consumers who
wish to avoid financing conflict resources through their purchases.
In order for our product to accommodate the needs of our target audience,
we conducted preliminary surveys with our friends, family and those in the
d as a
basis for its dimensions, price point, and customization options. Despite
plan to ensure our competitive advantage and profitability. Our product line
consists of one model of the Resonance that caters to the majority of cell
phones. This is offered in four colours: cherry, lime, rosewood, and dark
walnut. The customer only needs to place their phone into the slot of the
Resonance and press play to enjoy a rich music experience. It is an ideal gift
for friends and family that can be used at any time and any place.
The Resona team is comprised of 25 talented high school students from all
result of our drive and entrepreneurial spirit. Our executive team is a diverse
group of students from all backgrounds with varying strengths to ensure that
all challenges can be overcome in an effective and timely manner.
Recognizing individual skills and interests, our team members have joined
departments where their assets are put to the best use.
Resona started with an initial shareholder investment of $250, which has
been put towards purchasing raw supplies including bamboo, wood, stain,
varnish, and tags. We are aiming for a 304%ROI, with a sales target of 250
units. We are ready to achieve each of our goals that will be laid out in the
following pages and look forward to growing as a team.
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Mission and Objectives
At Resona, we strive to create premium sound using innovative methods
that defy conventional notions of technology in a manner that is energetic
and sophisticated, yet at the same time promoting the simplistic art of
nature.
Objectives
● Sell a minimum of 250 units in the following 10 weeks, potentially
expanding to 350 units depending on the success of our sales goals.
● Maintain over 90%attendance for all team members, excluding excused
absences.
● Maintain high company morale and team unity.
● Improve our marketing strategy on a weekly basis with the consideration
promotion and price).
● Support democratic ideals by upholding fair and consistent discussion and
voting procedures that will allow all members to express their views.
● Continue productivity outside of weekly meetings through online services.
● Create brand awareness through effective and consistent advertising that
firmly reflects our company values and minimalist design.
● Maximize production efficiency by producing at least 50 units each week
with a defect rate of 5%or less.
● Manage an effective inventory and sales record-keeping system for
inventory, sales, and company information.
● Establish a fair compensation system that rewards work efficiency and
provides adequate sales incentive to motivate workers.
● Triple the value of each share by the end of the program.
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Executive Team
Marnie Wang - President
Grade 11, Henry Wise Wood High School
Through her experiences as an executive of various school clubs, Marnie has
gained strong leadership skills and attributes including compassion,
determination, and organization. Outside of school she has also been heavily
involved in the community, frequently volunteering with the local library and
with people of all ages. In her hobbies which include reading, travelling, and
swimming, she continually pushes herself to take on new risks and challenges.
program and later go on to medical school to become a surgeon. With her
enthusiasm and understanding of the meaning of teamwork, Marnie promises
to help Resona and its members achieve their maximum potential and goals.
Andy Zheng - Vice President of Finance
Grade 12, Henry Wise Wood High School
Andy Zheng is a proactive and organized student who attempts to find new
and innovative ways to accomplish tasks. His passion for mathematics and
finance motivated him to work towards becoming the Vice President of
Finance. Additionally, his experience as a tutor and a camp leader has helped
him develop not only as a role model but also as a team member. Hoping to
grow as an impactful member of society, he strives daily to find new
opportunities and challenges. As the VP of Finance with a rich background in
the treasury of a Scouts company, he will aid the company in becoming
prosperous and memorable as we grow.
Emily Graham - Vice President of Human Resources
Grade 12, Rundle College High School
Emily Graham is highly involved in the community, pursues various
volunteering opportunities, and is a leader in clubs. This is her first year in
Junior Achievement. Her hobbies include reading, writing, drawing, and
spending time with friends. Currently, Emily is involved in CAUSE, a volunteer
oriented club at her school that focuses on giving back to the community.
Through her leadership experiences, she has gained valuable qualities such
as understanding for others, empathy for those in less fortunate
circumstances, and focusing on what is important in life. As Emily hopes to
pursue Human Resources and Management in university, being the Vice
President of Human Resources in the Company program has given her a
better view on what major she wishes to go into.
Quinn Ceplis - Vice President of Marketing and Sales
Grade 12, Henry Wise Wood High School
Quinn Ceplis is an enthusiastic leader with a desire to make everything the
best it possibly can be. He has a love for design and photography, and enjoys
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graduation committee and an aspiring leader in the Model United Nations
club. Outside of school, he is a passionate member of the Calgary Rowing
Club and understands the true power of what a team can accomplish when
they put their mind to it. Quinn hopes to study industrial design in university
and believes experience in marketing will help him in his future career.
Through his dedication and perseverance, he hopes to create the best
solutions to problems the company may encounter.
Ridwan Bari - Vice President of Production
Grade 11, Henry Wise Wood High School
Through construction courses, leadership opportunities, and extracurricular
activities, Ridwan Bari has developed many leadership and problem solving
skills. He is passionate about music, science, and giving back to the
community. Outside of school, Ridwan is a member of three different music
bands, volunteers at Telus Spark and the Aerospace Museum of Calgary, and
is part of the Henry Wise Wood Boys Rugby Team. These experiences have
allowed him to learn how a team functions in many scenarios and how to
respond to challenges that may arise. His future educational goal is to study
aerospace engineering at the California Institute of Technology or Purdue
University, in hopes of becoming an astrophysicist. Being in his second year
of Junior Achievement, Ridwan Bari, as the Vice President of Production,
promises to use his knowledge and leadership skills to guide Resona through
the bumps and curves of running a company.
Alexander Babichuk - Vice President of Information Technology
Grade 10, Bishop Carroll High School
Alexander Babichuk is a creative student and has a large arsenal of
knowledge. He is currently involved in activities such as robotics, wrestling,
school hockey, and community hockey. Through years of being an active
student, he has gained leadership traits that helped him become a well-
rounded individual. Outside of school, he enjoys playing hockey, playing
board games, and hanging out with his friends. With his years of involvement
in team sports, he has developed the ability to function and strive in a team
environment. Over the past few years, Alex has become passionate about his
development in his academics and wishes to further expand his arsenal by
attending university.
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Marketing
By connecting with our most valued customers, marketing is an essential part
of Resona s success. On a daily basis, we are involved in learning more about
the needs of our target audience and raising awareness about the
Resonance. Despite having a challenging task, we are committed to achieving
a sustainable, competitive advantage over other companies with similar
market niches. This includes garnering higher sales by being customer
oriented and gaining brand recognition. The marketing department aims to
present Resonance in its best, most creative form, and bring the experience
of premium sound to consumers throughout Calgary.
Objectives
The Marketing Department at Resona has the following objectives:
● Sell a minimum of 250 units in the following 10 weeks, potentially
expanding to 350 units depending on the success of our sales goals.
○ All sales opportunities in schools, malls, office buildings, craft sales, and
community will be taken. An example of such an undertaking is the
University of Calgary Bookstore Sales Pitch Day that Resona had
participated in on November 13th, 2015.
○ Each of the 25 members in the Resona team will sell at least 1 unit per
week for the 10 weeks leading up to the Junior Achievement trade show.
● Create brand awareness through effective advertising that firmly reflects
our company values and minimalist design.
○ Create social media following across all popular platforms including
Facebook and Instagram with the cooperation of the IT department.
○ Placement of advertisements in popular locations around Calgary such
as downtown restaurants in cooperation with the owner.
○ Business cards with our contact information will be handed out at
corporate events to increase public awareness. They will also serve as
product tags so customers can leave reviews and tell others about the
Resonance.
○ A visually stunning and informative showcase video will be made
presenting the Resonance and its features in its entirety. This will be
displayed on the landing page of the website and be shared on all social
media platforms we are on.
● Lead weekly discussions with the
place, promotion and price) on how to improve our marketing strategy and
establish a more cohesive plan.
○ Difficulties faced in the last week in individual and group sales will be
shared at each meeting. With the input of all 25 members, ideas on how
the company can overcome these obstacles will be brainstormed.
● Manage an effective inventory and sales record-keeping system in
collaboration with the Production department.
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○ Every unit will be labelled with a Junior Achievement sticker with a unit
ID number.
○ The name(s) of the sales associate(s) who made the sale, the date of
sale, the price of sale, and the unit ID number will be recorded. This will
ensure that no money or products are lost.
Marketing Strategy
Market Research
Through preliminary surveys, it was found that ecofriendliness, durability,
social responsibility, and variety are some of the most important factors
As such, these became the
cornerstones of our product design and marketing strategy.
Bamboo is one of the most renewable and strongest natural building material
available in the market. Without shrinking or swelling, like hardwood does, it
is the ideal material to use for making natural speakers that do not warp or
reduce sound quality over time. Additionally, as bamboo is a grass, certain
species have the amazing capability of growing over four feet in one day. We
have also found that, unlike hardwood, it does not need to be replanted after
harvesting because new shoots grow from the root system. Lastly, it is
extremely strong in that it can rival steel in tensile strength and concrete in
compressive strength.
One of the main concerns of environmentally conscious consumers with the
use of bamboo is that most of it is grown in Asia. This leads to extensive
shipping that is costly and requires a high amount of energy. To solve this
problem, we sought out suppliers of the hardy and adaptive Moso species,
which are grown in Chilliwack, BC, Canada.
To ensure that our product only leads to positive social impact, our electricity
free product does not contain conflict minerals. In areas such as the Congo,
armed groups fight continuous and bloody warfare over the profitable trade
of minerals such as tantalum. Since the mineral supply chain lacks
transparency, we are offering consumers the
an alternative to financing conflict resources through their purchase of
electronic accessories.
When our members conducted a questionnaire to friends and family, most
common phones were found to have physical dimensions within a close
range. We utilized the upper range to determine the size of the phone slot on
Resonance, with consideration for additional width to account for individuals
with phone cases. Also, four colours were selected to cater to our diverse
target audience. Cherry and lime are highly vibrant, youthful colours, while
rosewood and dark walnut appeal to those who seek exclusivity, sleekness,
and high class elegance.
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Target Market
Resona seeks to sell the best bamboo speakers to people with a passion for
music at a wallet-friendly price. This group mainly includes local high school
and university students, but also anyone looking to bring a great sounding
speaker on an awesome adventure. Students will be between the ages of 15-
25, and will be attending a Calgary high school or university. These students
will enjoy our product because it provides a great sound for studying or
relaxing, while remaining budget-efficient. For our adventurers based in
Calgary but seeking to explore the world, age 25-99, Resonance provides a
light and durable design, allowing it to be carried around without fear of
damage. Resonance requires no electricity and is perfect for enjoying nature
on the go. We are catering to both age groups by offering the Resonance in
vibrant cherry and lime for the younger age group and rosewood and dark
walnut for the mature age group.
Product
Resonance by Resona is a smartphone accessory that boosts the quality of
sound using natural bamboo. Its 10 inch cylindrical shape and interaction with
sound waves means it amplifies sound while being durable and lightweight. It
is stained and glossed in a variety of colours to give it appeal and longevity.
We also hope to promote a sustainable model for business on the Earth
through using bamboo and other ecofriendly materials. Packaging for the
product will be kept to a minimum in order to ensure that no more resources
are used than necessary; thus, prices will be kept low and the ideal of
environmental friendliness up. However, a small tag will be used in order to
keep our customers in contact with our social media and our website, as well
as giving advertising space to our sponsors.
Price
Each Resonance unit will be sold for $15, which is an easy and convenient
price point that does not require customers to carry coins. Our research
shows that this is a sustainable price that makes our product affordable and
profitable. The Resonance is approximately 25%less expensive than the
available competition. This will provide us with a competitive advantage
despite our status as a new start-up and make it more appealing for students
and parents.
Place
Pre-sales have commenced at Resona by employees at home, at school, and
in the community. Additionally, we plan on promoting our sales as a team at
schools and various events and venues, such as Christmas Markets at Eau
Claire, Chinook Mall, or Market Collective. These locations were selected due
10. Resona Business Plan 2015-2016
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to their popularity with our target audience, which will ensure the greatest
efficiency and success while promoting sales. For the best presentation, we
will always have samples of the Resonance playing popular music at our sales
to demonstrate its strengths and amplifying power.
Promotion and Advertising
Several online and offline campaigns will be launched to promote the
Resonance. One of our first goals was to get our product onto the market
working Resonance prototype that was successful at attracting interested
customers. It was also featured on the University of Calgary Bookstore
Facebook page, advertising to more people than we could hope to reach
through our own Facebook Page. A common but effective idea is to hand out
business cards with links to our website at schools and venues. Social media
is a simple form of advertising, but those of us at Resona feel one social
media feed is not enough. Several accounts will be set up to promote our
product, each with a different goal. Facebook will be used as a general hub
for sharing photos of the team and progress updates. Instagram can be used
as promotion showing people enjoying the Resonance in different ways in
their daily lives. A YouTube account can be used as a similar platform,
displaying visually stunning and informative showcase videos that
demonstrate how the Resonance can im
Budgets/Sales Forecasting
In order to reach our final sales goal of 250 units, each of our 25 members
must sell at least one unit per week for the next 10 weeks, up to the final
trade show. For each group sale where a booth is set up, at least 25 units
must be sold. These will be counted towards the weekly sales goal of each
sales associate present at the group sale.
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Production
Production can be seen as the heart of the company as it is responsible for
the Resonance, the physical manifestation of our ideas and planning for the
last months. As such, the production department strives to produce the best
quality products while keeping to our values of safety, social responsibility,
and environmental friendliness. Cooperating closely with the other
departments, the production team will cater to our target audience s needs in
a manner that complements market tendencies and reflects a customer
orientation. Using locally sourced materials, our highly skilled team members
will produce a product that will exceed customer expectations and kick off
our entry into the market.
Objectives
Despite its strength, working with bamboo is a very difficult process and must
be handled with the utmost precision. Thus the Production Department at
Resona has the following objectives:
● Maintain a defect rate of 5%or less.
○ Extensive training will be provided to all members of the team that are
involved in the production process so that their task at hand is
completed to acceptable standards that have been placed by quality
control and expected by our customers.
○ Every three units produced will be inspected at each step of the
production line for defects so early repairs may be conducted if possible.
● Maximize production efficiency by producing at least 50 units each week.
○ The production line will be carefully and frequently monitored to ensure
effective completion of engraving, staining and packaging. All required
products and materials will be made available to the production line so
their tasks may be completed with increased efficiency.
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Materials Procurement
Our product, Resonance, is made using bamboo, wood, stain, varnish, tags,
and ribbon.
Our Suppliers
Bamboo World
8450 Banford Rd
Chilliwack, BC CAN V2P 6H3
(604) 792-9003
http://www.bambooworld.com/
Home Depot
390 Shawville Blvd SE
Calgary, AB T2Y 3S4
(403) 201-5611
https://www.homedepot.ca/
Balance Paint & Decor
6101 Centre Street S
Calgary, AB T2H 0C5
(403) 453-2070
http://www.balancepaint.com/
Vistaprint
(866) 859-3406
http://www.vistaprint.ca/
Walmart
9650 Macleod Trail SE
Calgary, AB T2J 0P7
(403) 258-3988
http://www.walmart.ca/
The bamboo is purchased as 8 ft. by 2 in. poles, from Chilliwack B.C., Canada.
The supplier, Bamboo World, ships the poles to the residence of the
purchaser, who is then responsible for bringing the raw material(s) to the
assembly.
T
of Production, who is then responsible for bringing the raw material(s) to the
meetings.
The stain and varnish are purchased from Balance Paint & Decor by the
President at their local storefront, where we have established a sponsorship.
In addition, they supply our 100 grit sandpaper. The President is then
responsible for bringing the raw material(s) to the meetings.
The packaging tag is purchased from Vistaprint by the VP of Marketing from
their online store. It will then be shipped to his residence, from where it is his
responsibility to bring the cards to the meetings.
The ribbon is purchased from Walmart by the VP of Production at a local
storefront, who is then responsible for bringing it to the meetings.
In the circumstance of a supplier no longer supplying our materials, all team
efforts will be made to find another reliable supplier before the original
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supply has been consumed. This will reduce the transition/lag time before
production can resume.
Production Process
At Resona, we take pride in the development of our all natural bamboo
speakers. They are crafted of a 10 inch by 2 inch diameter bamboo tube,
acting as the speaker, and a solid wooden base to keep the whole unit stable.
All measurements and cuts will take place at the Henry Wise Wood
Woodshop under the supervision of Mr. John Mott, the construction teacher.
Production time will take place once a week in the shop, during the weekly
meetings, as well as at
staining and construction.
Step 1: Splitting
Each individual bamboo pole (8ft. by 2 in.) is uniformly cut on one side along
the entire length with a high precision table saw. This ½ wide relief cut will
reduce pressure on the material, prevent deformation, and decrease the
potential for any cracking/splitting. In turn, this will prolong the longevity of
our product.
Step 2: Cutting
Measuring tapes are used to precisely measure and mark 5 inches left and
right from the nodes of the bamboo pole. Two team members will assist in
keeping the bamboo stable on the workbench. Then, a band saw is used to
cut the marked lines indicating each interval. Each of these sections will be
ood for the stand is then cut with the table saw into a t-shape with
½
Step 3: Sanding
Each bamboo tube and wooden base is sanded with a belt sander. It is then
finely sanded with 120 grit sandpaper to make minor corrections and
maximize the overall smoothness. The bamboo tube and the base are then
both sanded by hand with a 100 grit sandpaper to achieve a smooth, uniform
surface for engraving and staining.
Step 4: Engraving
The base will be engraved with our logo at the University of Calgary with a
high-precision laser engraver at no cost, as a show of their support for our
company. This will ensure that the engraving will look professional and clean.
Step 5: Staining and Varnishing
The bamboo tube and wooden base will then be stained in one of four
different colours: cherry, lime, rosewood, and dark walnut. As the stain and
varnish are user safe with low-toxicity, no special procedures need to be
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taken for safe ventilation. However, gloves are provided during staining due
to its tendency to temporarily stain skin.
Step 6: Attaching
Epoxy glue will be used to attach the bulk of the bamboo tube to the wooden
-
imperfections and spaces in order to reinforce the bond.
Step 7: Tagging and Packaging
An inventory sticker provided by Junior Achievement will be placed
underneath the wooden base in the right hand corner. A business card tag,
bought from Vistaprint, will be attached to the unit by 6 inches of white
ribbon. This tag will include the name of our company, how to contact us for
customer service, as well as our sponsors and charity of choice. The ribbon
will then be tied around the unit using a double knot and finished with a bow.
The bow and tag will be positioned facing the front of Resonance before each
one is ready to be sold.
Training
Research about safety requirements and conditions for working with bamboo
was conducted. Such procedures included keeping the bamboo in a warm,
preferably moist environment and wrapping tape around the areas that we
need to cut. We also received experienced training from Henry Wise Wood
orientation of the shop in which the majority of the production will take place.
Firstly, we use a measuring tape to precisely measure 5 inches left and right
from the nodes of the bamboo pole. Two team members will assist in keeping
the bamboo stable on the workbench. Then, a band saw is used to cut the
marked lines indicating each interval. When doing this, all members should
have short sleeves or sleeves rolled back and proper eye/face protection;
females must also have long hair tied back, with no large earrings or
accessories that pose a safety hazard. When sanding, distance is maintained
away from the sander machine as according to shop standards: hands must
not be in range of the sandpaper while keeping a firm grip on the bamboo to
prevent hand injuries. Finally, when gluing the base on, gloves are necessary
to avoid direct contact with the glue and prevent skin damage.
Quality Control and Inventory Control
At Resona, we strongly believe that quality control is one of the most
important aspects to preserving a healthy company reputation. To ensure the
Resonance is of the highest quality, one of every three units will be hand
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checked at each step of the production line. The product must meet all of the
following requirements:
1. No scratches, dents, or cracks on the surface of the unit.
2. Staining on the entirety of the bamboo is consistent throughout.
3. All products of the same colour must have the same, even tone and
be free of brush marks (ie. The colours of all rosewood stained
bamboos must look identical).
4. Logo must be placed square with the base.
5. Size of hole to fit phone must be consistent throughout.*
*This will be used for the first batch produced as other/more sizes for the
phone slot may prove to be more marketable.
All amplifiers which do not meet these requirements would be recalled and
fixed. If the amplifier is damaged to the point that it cannot be fixed, the
amplifier may be demolished for parts or used for other purposes in order to
reduce waste (ie. advertising).
An inventory sticker, provided by Junior Achievement, will be placed
underneath the wooden base to keep track of all the units produced. These
stickers are numbered starting at #1. Each of these tagged products are then
put into an Excel spreadsheet, along with the colour, date produced, date
sold, and name of the sales associate. This Excel spreadsheet will be
managed and updated weekly by our Inventory Control Specialist, Coleen
Gachet.
Product Development
The unpredictability of bamboo is our strength when it comes to looks, and
individuality is exuded by each one of our products as no two bamboo poles
are alike. As mentioned earlier, we are currently starting off with lime, cherry,
rosewood and dark walnut colours for the speakers. After the initial week of
sales, production of a specific colour can either be increased or decreased
depending on the popularity as judged by customer responses. While the
source of bamboo is in British Columbia and is readily available, there may be
a few problems that arise from the production process. Bamboo is known to
crack under dry conditions as pressure builds up in it and that was certainly
is based in Calgary, cracking of the bamboo tube is a potential threat to the
uniformity and functionality of the product; they allow sound leakage which
affects the sound quality of the speakers. We at Resona believe that
customer satisfaction comes first and that no sacrifices should be made when
it comes to giving the customer the best product possible. Thus the entire
production team, led by the immensely capable VP Ridwan Bari, reached a
solution to the bamboo cracking problem. The T-shaped base design as
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mentioned previously not only solves the problem of sound leakage but it is
also multifunctional due to the fact that it utilizes a relief cut to make a base
to support the speaker and phone. Additionally. Mr. Mott has a tremendous
amount of knowledge about wood and the process of manufacturing
products using different types of wood such as bamboo. He not only
supervises the production line, but has also given advice on how to resolve
any intermediate problems that may occur during the process.
Winson Say, who is a member of the production team, is in charge of the
quality control and he will collect any direct feedback that the sales team
receives. Ongoing customer feedback is one of the most important forms of
research and development and thus, we will have a survey on social media
for customers who have brought our product and want to inform us about it
strengths and weaknesses. Within the Resona team, anyone can utilize online
platforms to provide speedy and seamless feedback to the production team.
If anyone notices our product failing to meet the requirements stated above,
they are highly encouraged to let one of us know as soon as possible to boost
efficiency and to maintain the quality of our products. The IT department has
made contacting Resona highly accessible through various social media
platforms.
Overall, there is a general consensus at Resona that we have access to an
incredible production venue, a hard working production team and a variety
of online communication tools, We know that over the next few months, these
will not only help us achieve faster communication between the members of
Resona and the customer, but also propel the ongoing research and
developmental aspect of production.
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Human Resources
Human Resources is a department that is responsible for maintaining
company morale and helping members work together cohesively as a team.
This is critical as building a motivated and happy workplace is scientifically
proven to improve workplace efficiency and productivity. Human Resources
also keeps track of wages, compensations, and attendance records.
Objectives
The Human Resources Department at Resona has the following objectives:
● Maintain over 90%attendance for all team members, excluding excused
absences.
○ If a team member will be late or absent, the Vice President of Human
Resources must be notified with reasons if they seek to be excused.
● Establish a fair compensation system that rewards work efficiency and
provides adequate sales incentive to motivate workers.
● Support democratic ideals by upholding fair and consistent discussion and
voting procedures that will allow all members to express their views.
○ All major group decisions are made during the meetings with a two-
thirds vote, where members may bring up concerns and further
suggestions at any point of the voting process. This will allow team
members to build upon each other's ideas, culminating in a final decision
that considers all aspects of the issue at hand and is representative of
the greatest number of viewpoints.
○ Between meetings, smaller team decisions are made through the
Facebook poll feature. When a poll is opened, the President sends an
email and SMS message to all team members to inform them of the vote
and its closing time, three days from when the group is notified.
● Maintain high company morale.
○ Each meeting will commence and end with a joke so as to create a
working environment where employees feel comfortable, relaxed, and
ready to work. As well as providing lighthearted entertainment, the HR
department will also provide interactive activities that help to encourage
more interactions with members of the company.
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○ A 15 minute break is included in the meeting agenda each week, where
snacks are provided by a different team member each week. This time
of free interactions between team members will encourage greater
understanding and team building.
○ Popular music is played during production sessions to create a positive
and enthusiastic atmosphere. As well, holiday themed music will be
played during the stressful time before the holiday break starts to
ensure the atmosphere is maintained.
○ Every two weeks, icebreakers will be held to heighten company spirit
and increase sense of belonging for each and every team member.
● Promote team unity by carrying out respectful, considerate, and discreet
conflict management.
○ When interpersonal conflicts arise, members can address their concerns
to the VP of Human Resources or the President. All personnel involved in
the conflict will be provided an opportunity to share their point of view
in an individual and private interview. Potential solutions will be offered
in the consideration of company bylaws, ethics, and productive team
composition.
Compensation Plan
Employees, regardless of position, are compensated only on the basis of
wages and commission; no salaries are provided. This decision is a result of
all employees being equally valued shareholders of our company who earn
profits based on our collaborative success. Wages are issued to recognize
attendance of meetings and the efforts of our employees who take time out
of their busy day in order to discuss the best course of action for the
company. At Resona, personal achievements and traits such as the dedication
required to gain high sales numbers is celebrated. Appropriately, high
commissions are given at 10%of the sale price as a strong sales incentive and
to reward the exceptional skills of our sales associates.
Mode of Compensation Compensation Given
Salary $0.00/week
Wages $0.33/hour
Commission 10%of unit price
Training
Understanding of the business model is critical to success as a company, and
Business Development Workshop, as well as the Sales Training. After these
workshops, members presented their knowledge to the group and even
19. Resona Business Plan 2015-2016
19
expanded on their ideas. For each department, the Vice President is
ultimately responsible for officer orientation through sharing their expertise
and knowledge. In terms of production, the VP of Production partnered with
local high school construction teacher, Mr. Mott, to lead his department in
cutting bamboo. As well, our generous sponsors and suppliers at Balance
Paint & Decor provided training in staining and varnishing to our President,
who shared her knowledge with the entire team.
Communication
As thorough communication is critical to effective teamwork, Resona makes
frequent use of Facebook and Slack, a team management tool, to keep all
team members updated. Every Monday, two days prior to the weekly
meeting, the President uploads the upcoming agenda to our Facebook group
so all members can be prepared beforehand. Also, a Powerpoint is created by
the President that recaps all discussions made in the last week and highlights
s are conducted over Slack
throughout the week to ensure that productivity can be maintained outside
of meetings. Lastly, weekly meeting minutes are uploaded into a shared
Google Drive folder for all members to consult.
20. Resona Business Plan 2015-2016
20
Staff
Back row, from left to right: Spencer, Aryan, Zain, Andy, Minjun, Tony, Matt,
Jay, Rudra, Max.
Middle row, from left to right: Leo, Edmund, Justin, Sarah, Coleen, Jennifer,
Winson, Gordon, Raahim.
Front row, from left to right: Ridwan, Alex, Marnie, Emily, Andy, Quinn.
President: Marnie Wang
Advisor: Patrick McCrady
VP of
Finance:
Andy Zheng
VP of HR:
Emily
Graham
VP of
Marketing:
Quinn Ceplis
VP of
Production:
Ridwan Bari
VP of IT:
Alex Babichuk
Minjun Kim
Matt Cruz
Max Shen
Leo Arreaza
Sarah
Hammad
Spencer
Luong
Edmund Mok
Coleen
Gachet
Jennifer Li
Jay Parikh
Tony Rong
Andy Dai
Rudra Pandya
Aryan Saxena
Winson Say
Justin Song
Zain Huda
Raahim
Salman
Gordon
Zhang
Advisor:
Shari Difley
Advisor:
Lincol Lin
Advisor:
Dirk
Vanderkooi
Advisor:
Tommy Lee &
Ryan
McKendrick
Advisor:
Travis
Cheung
21. Resona Business Plan 2015-2016
21
Information Technology
Information technology is a crucial part of a successful company; it can make
or break how the company is seen. Excellent visuals can often be considered
one of the foundations of attracting customers. In this way, information
technology can also be used to increase the amount of potential customers
and recognition of the product, which can directly lead to an increase in sales
and a better reputation as a company. The team at Resona believes that
customer interaction is critical to the success of the company. By considering
feedback from our target audience in our company decision making
processes, we will make our product better suited to the preferences of the
public. In this manner, the IT department realizes the potential of social
media in effective communication with customers and help Resona grow.
Objectives
The information technologies department at Resona strives to present the
company in a professional, authentic, and aesthetically pleasing format in line
with values of our company. The objectives of the department include:
● Increase productivity through online services.
○ With the use of Facebook, Slack, and Trello, team members can stay up
to date on the latest discussions and announcements as well as keep
track of ongoing projects within the company.
○ Any issues encountered over the week can be discussed at length over
Slack, while major announcements and voting are presented through a
Facebook group.
○ This allows our weekly meeting to be concise and informative, while
● Assist in educating team members on how to use technologies and online
tools.
○ By helping team members learn how to make the most of the online
services, we can maximize our productivity throughout the week and
save the most important topics for the meeting.
22. Resona Business Plan 2015-2016
22
○ Providing this support will maximize everyone's talents and assets. On
top of that, tech support can be a motivational service as well, and boost
the morale of the team.
○
cables, cameras, and tablets.
● Keep brand consistency across all social platforms.
○ Maintain a unified image on our website, Facebook page, Instagram,
Snapchat, and YouTube that possesses the same visual aspects and
promotes our company mission.
○ Maintain content across platforms and keep them up to date with the
latest announcements, photos, and information.
○ Produce effective visuals for advertisements.
● Safe record keeping of company-related files.
○ This is accomplished with the use of the cloud storage service Google
Drive as well as through redundancy measures such as a separate hard
drive for all files relating to the company such as inventory, hours,
budget, etc.
Online Tools
To accomplish the goals and objectives outlined, several online tools are
utilized, such as Slack, Facebook, Instagram, Snapchat, YouTube, Trello,
Google Apps, and a website. Slack is a communication tool designed for
it allows the creation of multiple channels, which our team has utilized to
separate each department into individual channels. Outside of channels for
each department, other channels include a private channel for the executive
team, tech support, announcements, and discussions. These allow for
meaningful conversations to take place between relevant members of the
company. With the addition of the web based application, there is also the
Slack app for phones which allows for members of the company to contribute
to the discussions wherever they may be.
With the prevalence of social media in this modern era, we can increase
interaction with our potential customers through these platforms. Facebook,
Instagram, and YouTube are used to create an image which customers can
associate with our company. They will be used to advertise our product and
give information to our potential customers as to how they can contact us
and buy our product. Snapchat will be used to give followers an inside look
into the company through carefully selected photos of our meetings. By
giving customers a glimpse into our production process, we hope to establish
a greater sense of trust and a closer relationship with those in the
community.
One big focus of the information technologies department was to create a
website that is easy to use, aesthetically pleasing, and connects to our
23. Resona Business Plan 2015-2016
23
customer. This website is also compatible with smartphone and tablets,
allowing for anyone, anywhere to view our website and get the same
experience regardless of the device they are using. The website is also linked
to our various social media platforms which allow the customer to easily
follow us. The addition of a blog allows for our customers to see how we
operate and manage the company, with a comments section under each blog
post for customers to respond and interact with the Resona team.
Trello is a planning tool which allows members to have a visual of the
happening within the company. With lists such as Wish List, To-Do, Doing, and
Done, it provides an clean and simple way to keep up with the several
projects within the company. Every user can make and assign new tasks and
other team member can see what each person/department is currently
working on.
The last tool Resona has implemented is Google Apps. These multiple apps
allow for easy collaboration between members of the group on documents,
presentations, and projects assigned by the President and Vice Presidents.
The creation of the shared folder where all company data is stored allows for
anyone to use and access data for a task. In this way, all records are kept in
one safe place backed up to the cloud. Also, further redundancy measures
include all data being backed up on a hard drive and an additional USB in the
event of files being misplaced or lost.
How IT department will aid each department:
President:
● Help keep in contact with every member of the company.
● Provide tools to allow for communication between any number of
members along with the details of each member of the company such
as email addresses and phone numbers.
● Provides rundown of how the website and each social media platform
are doing.
Human Resources:
● Provide data backup and security of personal information.
● Establish timely communication methods.
● Provide technical support for programs that are used by human
resources and provide proper knowledge to each person.
Finance:
● Provide technical support and knowledge to use software to its
maximum potential, including data backup.
● Provide information on how the product is selling, supply inventory, and
how many products are lost during production.
24. Resona Business Plan 2015-2016
24
Production:
● Aid with inventory spreadsheets involving details on how many
products were produced, how many were broken, and how much of a
material is left.
● Have supplier information ready on hand if needed.
● Notify responsible personnel when orders need to be made.
Marketing:
● Provide sales charts and spreadsheets, digital advertisements and
showcase videos.
● Make all digital data easily transferred and used by other members of
the company.
● Provide data backup and technical support if needed with programs.
25. Resona Business Plan 2015-2016
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Finance
The finance department is the money manager of Resona. We are responsible
for the record keeping of all transactions, inventory, as well as budgeting. As a
car needs a driver, the finance department drives the company forward on the
right path, making sure all options are considered and financial decisions are
made with understanding. Profit, being the aim of every successful company,
requires an understanding of the market, the customers and good
management, which the finance department will strive to provide for Resona.
Objectives
At least triple the value of each share by the end of the program.
Reach breakeven point by the end of December.
By the end of the program, we will surpass our predicted sales and reach
towards a stretch goal of 350 sales.
Initial Capitalization
Our initial capitalization was $250 with 25 members, which resulted from $10
paid per share. $165.95 was necessary for raw materials while an additional
$76.83 was necessary for advertising and marketing. Additionally, Human
Resources has requested a budget of $80 for the year while Marketing
requested $45. These costs are taken into account in the fixed costs. We
have an hourly pay of $0.33 with a commission bonus of 10%of the unit price
per product.
Relations and Sponsors
At Resona, we strive to build our products with ecofriendly materials
produced in Canada. Currently, we have received a sponsorship from Balance
Paint & Decor, an environmentally conscious paint shop that has provided us
with stains and varnishes at cost in exchange for website advertising. As for
production, our costs have been greatly reduced due to the generosity of Mr.
Mott, the Henry Wise Wood Construction teacher, who has allowed us to use
his shop for bamboo cutting at no charge.
Product
After we had decided upon the creation of a bamboo speaker, each material
in the process was taken into account for variable costs and also the fixed
costs of HR, IT, and Marketing. When all of the variable costs were taken into
account, each product would cost around $2.19 to produce with an additional
$1.50 in commission. After the shipment of bamboo arrived, a quality check
was done to examine for cracks and defects. While it was predicted that 9
units could be produced per pole, the natural flaws of bamboo such as
26. Resona Business Plan 2015-2016
26
diameter differences and cracking led to the conclusion that if production
were to make no errors, only 6 units will be produced per pole.
Break Even Analysis
Our product will be sold at a price of $15 per unit.
Forecast Fixed Costs
Fixed Cost Time/Quantity Price of Fixed Cost ($)
Banking Length of Program 0
Business Cards 250 cards 32
HR Reserves Length of Program 80
JA Invoice Once 100
Marketing Reserves Length of Program 45
Wages 15 Weeks 371
Website 1 Year 45
Total Fixed Cost: $673 (The fixed costs are rounded values but the actual
calculation for breakeven will use the actual cost of $671.61)
$0
$32
$80
$100
$45$371
$45
Breakdown of Fixed Costs
($673)
Banking
Business Cards
HR Reserves
JA Invoice
Marketing Reserves
Wages
Website
27. Resona Business Plan 2015-2016
27
Variable Costs per Unit
Variable Cost Cost ($) Cost per Unit ($) Quantity
Bamboo 97.76 1.63 10 poles of 2" by
8'
Stain and Varnish 50.00 0.11 4 bottles of 236ml
stain, one tub of
946 ml varnish
Logo Engraving
(Provided by
University of
Calgary)
0.00 0.00 Unlimited
Bamboo Cutting
(Provided by
Construction
Teacher, Mr. Mott)
0.00 0.00 Unlimited
Ribbon (Provided
by Resona team
member)
0.00 0.00 Unlimited
Sandpaper 4.00 0.07 4 Sheets
Epoxy Glue 9.97 0.17 1 Bottle
Wood Base 4.24 0.21 1 Plank
Commissions 1.50 1.50 1 Sale
Total Variable Costs per Unit: $3.69
$1.63
$0.11
$0.00$0.00$0.07
$0.17
$0.21
$1.50
Breakdown of Variable Costs
($3.69)
Bamboo
Stain and Varnish
Logo Engraving
Bamboo Cutting
Sandpaper
Epoxy Glue
Wood Base
Commissions
29. Resona Business Plan 2015-2016
29
The intersection between the Predicted Revenue and the Total Costs marks
the breakeven point of 60 units. While it is approximately 59.4, this must be
rounded up as our units are only sold as a whole. At breakeven, our revenue
generated is $900.
This breakeven analysis is based on the actual costs of all fixed costs which is
$671.61. The profit which can be made after selling 100 products is $404.39,
which would almost double our shares. If we were to reach our goal of selling
250 units by the end of the program, after our 25%contribution to both JA
and WWF Canada, our company will have $1010.
The contribution which is earned will be applied to fixed costs until the 60th
product is sold. At that time, the contribution shall go directly to profits.
$3.69
$11.31
Breakdown of $15 Sales Price
Variable Cost
Contribution
$2.83
$2.83
$5.65
Breakdown of $11.31
Contribution After Breakeven
JA Company
Charity-WWF
Company Profit
30. Resona Business Plan 2015-2016
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Financial Statement
As of Week 8, we have only spent our funds on bamboo and stains. We are
currently working on obtaining basic materials, business cards, and a website.
Although we have ten pre-sales on the line, none of the payments will occur
until the final product is complete. Our current assets remain as $250 which
was given by the shareholders, as we have not received any pre-sale profits.
Financial statement as of November 30, 2015
Total Equity $250
Total Expense $148
Balance Remaining $102
Balance sheet as of November 30, 2015
ASSETS $250
Cash $102
Inventory $148
Total Assets $250
LIABILITIES
Wages Payable $98
Total Liabilities $98
Capital Stock $250
Deficit -$98
Total Shareholders' Equity $152
Total Liabilities and Equity $250
31. Resona Business Plan 2015-2016
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Budget Forecasting
By the end of the program, we are hoping to sell at least 250 units which will
allow us to achieve more than our goal of tripling our shareholder's funds. From
the 10 pre-sales made already, the company must sell an additional 240 units
to achieve this goal by the end of the program. Our predicted profit is $1010,
with an ROI of 304%.
Projected Income for 250 Units Sold at $15
Total Revenue $3750
Total Expense $1732
Balance Remaining $2018
Charity (WWF-25%) $504
Junior Achievement (JA-25%) $504
Profit (Company-50%) $1010
Net Balance Remaining $0.00
Predicted Income for 350 Units Sold at $15 (Stretch Goal)
Total Revenue $5250
Total Expense $2156
Balance Remaining $3094
Charity (WWF-25%) $774
Junior Achievement (JA-25%) $774
Profit (Company-50%) $1546
Net Balance Remaining $0.00
32. Resona Business Plan 2015-2016
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Risks
A risk which our company had to take when creating the product was the
amount of money necessary for our initial investment. Due to the fact that our
bamboo required our company to buy in bulk to avoid the high cost of
shipping, almost 40%of our budget had be placed in jeopardy. To possibly
reduce this risk, we have ensured contact with the bamboo provider to keep
the risk of defects minimal, and thus, the profit generated from the product
will be near the predicted.
Due to the fact that our product relies on the market at which we are selling
in, the possibility of not having a proper marketing strategy may reduce our
chance of selling products. To ensure this risk is controlled, a proper sales
pitch and marketing strategy has been devised and will cater to the
appropriate audience.
Since our bamboo could only be bought in bulk, our company may run the
risk of not selling all of the products produced at the end. Although this risk
will affect the liquidation of the company, we have reduced this risk as we will
only buy bamboo after completely selling an entire batch of bamboo. If
customers were to ask for additional products, we have created an order list
which can be filled in with their contact information so we can provide
notification upon receiving a new shipment of materials.
