FAR HORIZON

Business Plan

Business Plan

Introduction

The study is related to the expansion of business that is Far Horizon. The company Far Horizon deals in dinghies and small yachts. The company is in business for 15 years and has experience of dealing these products. Now the company wants to expand its customer base by including more experiences yachtsman. Furthermore, as the company wants to grow its business; therefore, it is important to design and construct 4 to 6 berth sea going sailing yachts. This change in the product will affect the customer positively and will ultimately affect the sales of the business.

Market Analysis and Strategies

According to the past studies it is observed and proved that the organizational behaviors are influenced by various factors. In relation to Far Horizon, organizational strategy is a systemic concept, made up of essential parts which are independently distinguishable, but which together forms a new and better strategy which ultimately affect the whole organization in terms of efficiency and effectiveness of the Far Horizon productivity.

SWOT

Strength

For the strategic performance management strengths are the key forces for a Far Horizon as it identifies and help the organizations to move towards the goals and objectives that were previously set by the management that is expand its customer base by including more experiences yachtsman which ultimately affect the overall efficiency of the Far Horizon.

Weaknesses

For Far Horizon, these can be in the form of no clear management styles, poor image, research and development issue, competitive disadvantage, poor track record, insider problems, financing problems and possible training problems by managers and supervisors, for instance in the manufacturing industry (Laudon and Kenneth, 2009).

Opportunities

In the case of Far Horizon, the opportunity is to increase the sales as the change in the product of the company will bring broader customer base which will increase the sales of the company (Camerer, 2009). In addition, from the perspective of the strategic performance management, these are factors or the elements that the Far Horizon should concentrate on as they are considered as the core factors which guide will the company in moving towards the goals, which will ultimately affect the efficiency and effectiveness of the Far Horizon.

Threats

What makes an organization to be strong is to identify possible threats within its operational base in performance management, the threats to Far Horizon could be in the form of expensive raw material, government policies, research, competitive pressures, new entrants, changing customers' tastes, adverse demographic changes, recession, growing bargaining power of suppliers and customers (Amit and Schoemaker, 2010).

Competitive Forces

Threat of Substitute Product

Firms within the same industrial like Far Horizon are competing amongst themselves. Substitute's limits potential returns on an industry by placing a ceiling on the prices companies charge. The risk of substitute product and services is strong. There is a somewhat swapping cost that is lower producing it is simpler for clientele to move from fast food industry to other associated products. In addition, it should be documented that the substitute product to a certain extent very improbable than persons will ...