China local independent design house (idh) survey report, 2010 2011
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This document summarizes a survey of China's local independent design houses (IDH) conducted in 2010-2011. It finds that most local IDHs have 10-50 employees, spend 4-6% of revenue on R&D, and saw sales growth of 20-60% in 2010. The survey investigates these companies' mobile phone, 3G, smartphone, and tablet businesses and lists the top 20 by sales.
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Running head MASTER MINDS 16MASTER MINDS.docx
Running head: MASTER MINDS 1
6
MASTER MINDS
Master Minds Innovations, LLC.
Business Plan
Chris Forrest, Jessica Harke, Ken Ostarello, Latasha Johnson, Lita Weikert
October 19, 2016
Benedictine University
MBA-559 D1A6 Entrepreneurship
TABLE OF CONTENTS
I. EXECUTIVE SUMMARY 4
Description of the Business Concept and the Business 4
Opportunity and Strategy 4
Target Market and Projections 4
Competitive Advantages 5
The Team 5
The Offering 6
II. THE INDUSTRY AND THE COMPANY AND ITS PRODUCT 6
The Industry 6
The Company and the Concept 7
The Product 7
Entry and Growth Strategy 8
III. MARKET RESEARCH AND ANALYSIS 8
Customers 8
Market Size and Trends 9
Competition and Competitive Edges 9
Estimated Market Share and Sales 9
Ongoing Market Evaluation 10
IV. THE ECONOMICS OF THE BUSINESS 10
Gross and Operating Margins 10
Profit Potential and Durability 11
Sales Budget 11
Fixed, Variable, and Semi-Variable Costs 11
Months to Breakeven 11
Months to Reach Positive Cash Flow 12
V. MARKETING PLAN 12
Overall Marketing Strategy 12
Pricing 12
Sales Tactics 12
Service and Warranty Policies 12
Advertising and Promotion 13
Distribution 13
VI. DESIGN AND DEVELOPMENT PLANS 13
Development Status and Tasks 13
Difficulties and Risks 14
Product Improvement and New Products 14
Costs 14
Proprietary Issues 15
VII. MANUFACTURING AND OPERATIONS PLAN 15
Operating Cycle 15
Geographical Location 16
Facilities and Improvements 16
Strategy and Plans 16
VIII. MANAGEMENT TEAM 17
Organization 17
Key Management Personnel 18
Organizational Chart 19
IX. OVERALL SCHEDULE 19
X. CRITICAL RISKS, PROBLEMS, AND ASSUMPTIONS 20
XI. REFERENCES 23
XII. BIBLIOGRAPHY 26
XIII. APPENDICES 29
A1 – Operating Cycle 29
A2 – Budgeted Income Statement 29
A3 – Sales Budget 2017 30
A4 – Variable and Fixed Selling and Administrative Costs Budget 2017 30
A5 – Breakeven 31
B1 – Overall Schedule 32
B2 – Cash Conversion Cycle 33
Executive Summary
Master Minds Innovations, LLC, (MMI) will redefine the mobile accessories industry by manufacturing a case that incorporates kinetic technology. As smartphones have evolved containing endless functions, consumers have experienced battery unreliability (Chris P., 2016).
Description of the Business Concepts and the Business
MMI, incorporated in 2016, in the state of Illinois with five partners who visualized a solution for extended smartphone battery life, yielding a higher level of performance for smartphones. This vision has matured into a reality through the strategically developed business plan we have set forth to bring our product to market.
Opportunity ...
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