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Plan outline Essay The company The name of the company will be â€Å"Innovations†. It would be specializing in manufacturing and marketing of hand crafted products, which used to be in vogue before the industrial revolution, and are still existing in many parts of the world. It will be a proprietary ownership firm, with a relatively small capital investment. The initial range of products offered will be the craft products in bamboo, from India. Once strong in marketing of these products, the range will slowly extend to wood and metal crafts from India. The ultimate goal will be to enter the high price jewellery sector in gold, and gems. The company will have its head office in Chicago, USA and have an operating branch in India. The head office at Chicago will be responsible for marketing the products which are sourced from India, by the branch over there. The Indian leg will be operating under instructions from the Head office in Chicago, will be responsible for locating suitable sources and the logistics for the product range outlined by the management. The main strength of the company will be its innovative designs. The focus would be on developing new designs, continuously. This pool of talent will be supported by a very strong team which specializes in strong brand building. The ultimate goal of the management is to build strong brand image in the hand crafted products sector. Initially, the staff strength will be very limited, to keep low overheads. This will be instrumental in the growth of the company. Details: The company will enter the business with a low investment. To risk factor will always be low, and a reserve fund will always be maintained at a certain level. . The gestation period is estimated at 3 months. Money should start rolling by his time. The company is not taking any loans or there is no borrowing of any type, to start this business. In both the offices, stress will be laid on employing people whoa re aware of the local market conditions. The marketing staff in Chicago and the procuring staff inIndia, will not exceed 5 to begin with. The USA office will be supported by two experienced designers, who will concentrate on evolving new designs, which will be communicated to the craftsmen, through our India branch. The Indian will have one efficient manager, under whom the procuring and logistics staff will operate. The manager directly reports to the USA head office. On the expenses side, 25 percent of the capital will be utilized for procurement of the crafted products and its logistics, another 25 percent for the marketing research and the actual marketing efforts, another 25% for the running overheads of both the offices and the reserves will be never go below the level of the final 25%. The operating strategy of the company will be to use only 75% of the capital, and concentrate on fast rotation of money. The routine functions like legal, accounts and personnel will be carried out by hired professionals on contract basis. Expenses will not be limiting factor, to get the best of the innovative talents, in whichever way available. With a small beginning, the company is expected to grow as a leading firm in the USA, for crafted products.