BUSINESS PLAN

for

Capital Translation Services

January 2012
INDEX

1. Executive Summary
2. Objectives
3. Mission
4. Keys to Success
5. Company Summary
6. Company Ownership
7. Start-up Summary
8. Services
9. Market Analysis Summary
10. Market Segmentation
11. Strategy and Implementation Summary
12. Competitive Edge
13. Sales Strategy
14. Sales Forecast
15. Management Summary
16. Organisational Structure
17. Personnel Plan
18. Financial Plan
Executive Summary

There is a need for a translation service that is expert with the technical information as
well as the languages where the product will be sold. Capital Translation Service (a
part of the London School of Enterprise) is an invaluable resource in preparing a
business and its products for the world marketplace.

We will offer translation in the following areas:

 Interpreter.
 Translating and Interpreting for Business.
 Foreign Language Training for Businesses.

Interpreter

An interpreter will translate the spoken word from one language into another. There
are two basic modes of interpreting: consecutive (one way or two way); and
simultaneous (split into out loud and whispered).

Consecutive one way involves interpreting for a speaker in front of an audience.

Large sections of the speech will be memorised (perhaps using note-taking), and then
interpreted when the speaker has finished.

Consecutive two way (also known as liaison, and usually used in public service or
business settings) involves interpreting for two face-to-face speakers who speak
different languages. Each speaker is interpreted in turn before the next person speaks.
Interpreters will work in business, at conferences, in the courts and the community.

Translating and Interpreting for Businesses

If a business is planning to expand on an international basis with exporting or

subsidiary services in another country, it will require a foreign language strategy.

As well as gaining language skills, i.e. learning a foreign language or obtaining

business culture training, the business may need the services of a professional
translator or interpreter.

Translation involves the conversion of written text from one language into another.
Certain kinds of text require high levels of cultural knowledge and specialist subject
expertise.

Interpretation is the verbal conversion of communication from one language to

another.

Foreign Language Training for Businesses

Use of the English language is widespread in the business world. Many overseas
contacts will have learnt English as their second language. U.K. firms tend to use
English as the language for business when in some cases it would be more beneficial
to use the language of their client. Opportunities for export and overseas trading will
increase the need for speakers of other languages in all kinds of businesses. Use of
foreign languages will depend on the nature of the business.

Managers need to decide how much language training their staff requires, if they are
capable and committed enough to learn a language, and whether it will be cost
effective for the business. Depending on its needs, the business may be better off with
an interpreter or translator.

Alternatively, foreign business culture training is a way of introducing staff to

business approaches in other countries. It can be a useful supplement to language
training, but can also be used as a short term alternative where language training is not
a feasible option.

Objectives

The objectives of Capital Translation Service are:

 Creating translations of exceptional quality.

 Assuring fast turnaround on every project.
 Maintaining competitive prices.

Mission

The mission of Capital Translation Service is to identify the best service for our
clients and provide that service to the best of our abilities whilst ensuring that our
owners and staff receive adequate compensation.

Keys to Success

 All translations will be reviewed by professionals with experience in the

industry.
 Selection of accredited translators with a university degree from their native
country.
 Fast, efficient and professional management of each project.
Company Summary

Capital Translation Service is a service focused on the translation needs of Capital

City businesses and eventually, the U.K. as a whole. We have gathered a large pool of
translators and editors in more than 10 languages.

All translators and editors are native speakers.

The translators are accredited by the Translator Association or other similar

organisations.

Company Ownership

Capital Translation Service is owned by Keith Hoodless and Dilshad Ahmed.

Start-up Summary

Keith Hoodless and Dilshad Ahmed will invest and also secure a SBA loan.

Start-up Expenses

Translation services initial and ongoing costs are not likely to be high. Most work will
be undertaken at the client’s location; therefore it will be possible to be based at home.

 A telephone/answering machine (from £30).

 A fax machine (from £150).
 A mobile phone (prices vary).
 A computer (from £600).
 A set of bilingual dictionaries, thesauruses and glossaries (prices range from
£30).
 Business stationery.
 Promotion.
 Insurance.
 Transport.

Our initial and ongoing costs will be:

Legal £2,000
Stationery etc. £1,000
Brochures £2,500
Insurance £500
Rent £2,000
Translators / Editors (3 – month costs) £50,000
Expensed Equipment / Software £5,000

Total Start-up Expense £63,000

Start-up Assets Needed

Cash Balance on Starting Date £17,000
Long-term Assets £20,000

Total Assets £37,000

Total Requirements £50,000

Funding Investment

Keith Hoodless and Dilshad Ahmed £50,000

Total Investment £50,000

Services

Capital Translation Service offers services in the following languages:

Languages:

 English.
 Bengali
 Hindu
 French
 Turkish.
 Spanish.
 Nepalese

Need Assessment & Project Management

A project coordinator is assigned to each client to monitor the quality of services

throughout the translation process and ensure consistency in project management.

Translation, Editing & Proofreading

All of our linguists are native speakers of the language into which they translate. A
professional translator performs the initial conversion of the text into the target
language.

Formatting & Galley Review

Once the text is finalised, our formatter uses the formatted English files to flow in the
foreign language text. The formatted document is then galley reviewed by the
project's proofreader.

Final Documents

If the client's printer cannot use a PDF or TIF file, we deliver a lino output or
camera-ready copy.

Interpreter

An interpreter will translate the spoken word from one language into another. There
are two basic modes of interpreting: consecutive (one way or two way); and
simultaneous (split into out loud and whispered).

Consecutive one way involves interpreting for a speaker in front of an audience.

Large sections of the speech will be memorised (perhaps using note-taking), and then
interpreted when the speaker has finished.

Consecutive two way (also known as liaison, and usually used in public service or
business settings) involves interpreting for two face-to-face speakers who speak
different languages. Each speaker is interpreted in turn before the next person speaks.
Interpreters will work in business, at conferences, in the courts and the community.

It should be stressed that linguistic ability cannot necessarily be equated with

interpreting skills, which must be learnt. A high standard of education is required for
those seeking a career in interpreting. It would be usual to take a language degree
first, a wide range of which are available at universities throughout the country; and a
postgraduate qualification in interpreting. It is also highly recommended that native
English speakers spend time or even train in the country of their interpreting
language.

Our conference interpreters must have interpreting training and will usually be able to
speak at least two foreign languages.

Intelligence and personal commitment is needed to be an interpreter, as well as

integrity and fluency in the language(s) in question. Confidence about speaking in
public is also needed, and the ability to switch to subjects which were not anticipated.

Other qualities necessary include a professional attitude and a high standard of

professional ethics regarding confidentiality and impartiality.

Interpreting

Interpreters are chosen depending on the business situation. There are different kinds
of interpreters.

 Liaison or Ad Hoc Interpreters

Liaison refers to the fact that these interpreters work both from and into two or more
languages. The setting can be varied, e.g. small business meetings, factory visits with
overseas visitors, accompanying delegates from overseas. When these individuals
work in a public service context, e.g. interpreting between individuals and
government agencies such as courts or social service departments, they are sometimes
also known as community or public service interpreters.

 Police and Court Interpreters

They usually work in legal settings and have some special skills and knowledge of
legal procedures.

 Conference Interpreters

They usually interpret at larger meetings where the audience is multilingual and
interpretation is provided in simultaneous mode to delegates via interpreting booths
and other specialised equipment. These interpreters usually only interpret in one
direction, i.e. from one or more languages (referred to sometimes as their passive
languages) into one or more active languages. There will usually be a team of
interpreters working together (depending on the size and nature of the event).
Interpreters use one of two techniques: consecutive or simultaneous interpreting. The
former is when the interpreter takes notes and interprets the speaker's utterances after
a few sentences. The latter is when the verbal translation is more or less simultaneous,
in chronological terms, with the pace of the speaker being interpreted.

Whatever the situation, managers need to make sure the interpreter has some
knowledge of the business' product and is aware of the technical language or jargon
used within their industry.

Translating and Interpreting for Businesses

If a business is planning to expand on an international basis with exporting or

subsidiary services in another country, it will require a foreign language strategy.

As well as gaining language skills, i.e. learning a foreign language or obtaining

business culture training, the business may need the services of a professional
translator or interpreter.

Translation involves the conversion of written text from one language into another.
Certain kinds of text require high levels of cultural knowledge and specialist subject
expertise.

Interpretation is the verbal conversion of communication from one language to

another.

Translators usually only translate into their mother tongue. The main uses of a
translation service will be:

 To publish the business' documents in a foreign language. This will usually

cover sales/promotional literature, packaging, contracts and product
information such as manuals.
 To translate and understand the documents of a foreign client. This could
cover correspondence and enquiries, orders, invoices and competitor literature.
 Obviously, in many cases, a straight word-for-word translation will result in
ambiguous phrases and misunderstandings. It is important that the business
chooses a translation service which is aware of local customs and regulations -
humor and slogans can be in bad taste depending on the culture. A good
translation is not simply an accurate one, but one which also understands the
culture in which it is being used.
 The quality of the translation will need to be checked. Before printing a final
version, it is important to have the text checked by a contact who works in the
target country and who understands the product or services pertinent to the
translation (if relevant). The documents must also be proofed carefully.

Foreign Language Training for Businesses

Use of the English language is widespread in the business world. Many overseas
contacts will have learnt English as their second language. U.K. firms tend to use
English as the language for business when in some cases it would be more beneficial
to use the language of their client. Opportunities for export and overseas trading will
increase the need for speakers of other languages in all kinds of businesses. Use of
foreign languages will depend on the nature of the business.

Managers need to decide how much language training their staff requires, if they are
capable and committed enough to learn a language, and whether it will be cost
effective for the business. Depending on its needs, the business may be better off with
an interpreter or translator.

Alternatively, foreign business culture training is a way of introducing staff to

business approaches in other countries. It can be a useful supplement to language
training, but can also be used as a short term alternative where language training is not
a feasible option.

Foreign Language Training

Why do businesses need to train staff in foreign languages? Which languages will be
most useful for business transactions? Is it necessary to learn a language or is it
acceptable to negotiate using an interpreter? These questions need to be considered
before launching into complicated and expensive language training. It is probably best
to have some knowledge of the customer's language - not everyone speaks English
and not everyone wants to. Language knowledge shows that the individual has made
some effort and instantly creates a positive rapport on which to base business
negotiations.

It can also help to show the business' commitment to working with overseas firms.

Additionally, at its most basic level, it provides individuals with confidence to travel
abroad and gives them a more international perspective. It may be the factor which
gives the business a competitive edge.

Business Culture Training

Business culture training is a way of making staff aware of different business

conventions in foreign countries. There are various cultures to consider, different
attitudes, education, politics, social issues, religion, etc. Business culture training is a
method by which businesses can become more international in outlook.

Business culture training can be a useful short term alternative to full language
training. It will help to remove the chance of misunderstandings in business
conventions. It can be used to enhance personal skills and business etiquette.

Assessing Language and Culture Training Needs

Ideally, language learning and culture training should be an integral part of the
management strategy. Managers need to decide what level of language training is
needed - if any. The occasional phone call in a foreign language may require
receptionists with basic language skills. The odd sales letter can be outsourced to a
translator. Occasional business travel abroad can be supplemented by the services of
an interpreter.

If it is decided that in-house language skills will be the best solution, then existing
skills of staff and the skills that the business needs must be assessed. This is basically
a 'Language Audit'. The audit will help managers match the business' language
requirements to the target market and to the type of business. It will help managers
look at communication in the business, where foreign language or culture training is
needed, how much it will cost, how to implement it, etc. The audit will also help
managers consider what sort of course is the best for the business and its staff. There
are a number of different approaches that can be taken. Is intensive training, weekly
training or a refresher course the most suitable option?

The business also needs to decide who will be trained. There may be key people who
need to travel abroad. If there is a choice, it is recommended that the manager chooses
people who have a good existing knowledge of a language, are motivated to learn and
are interested in the country the business is trading with. It is important to remember
that language learning takes time. Staff have to carry on with their other roles within
the organisation. Time and money can be wasted if training courses are inappropriate.
Market Analysis Summary

Increasing trade with other countries, especially in the European Union, is making
language skills and the use of interpreters essential. The expansion of the European
Union to include eastern European countries such as Poland and Hungary will provide
opportunities for interpreters familiar with these languages.

A freelance interpreter may need to combine this with other work, e.g. language
teaching, as the profession is very competitive and can be difficult to enter.

Increasingly, computers are being used in conference interpreting, so working in this

area will require IT skills.

Although many interpreters will cover more than one area, especially at start up, one
type of interpreting will be the dominant field and this will determine the customer
group. For example, the services of a simultaneous interpreter would be needed by
large multinational or international companies, or for United Nations and European
Commission conferences and the International Court of Justice. The largest employers
of conference interpreters are in fact the EC and the UN. Interpreters with some
degree of specialist knowledge, such as engineering, will be able to work at relevant
conferences and business meetings. Such specialisms can be gained by research and
experience in the required fields. Many interpreters are registered with interpreting
agencies and obtain work through them.

Interpreting clients could include anyone from journalists to groups of business

people visiting a site in a different country (such as a factory), through to high level
events such as meetings held by heads of state, government representatives wanting to
negotiate an issue, or companies. Some high level situations may require every
delegate to have their own interpreter, so an interpreter could be working closely with
just one person. Customers could also include tourist centers. The customers of public
service interpreters will include the medical profession, social services, the police,
solicitors, immigration, local government organisations, customs or officials in court.

Interpreting is a very competitive field, and standards are extremely high.

Competition will come from other interpreters in the relevant field: the membership
directories of the Institute of Linguists, Institute of Translation and Interpreting, and
Association Internationale des Interpretes de Conferences should be checked, as well
as the National Register of Public Service Interpreters to gauge the levels of
competition. Some organisations may also employ in-house interpreters. The widest
choice of work will be available to those who can offer two or three languages in
addition to their mother tongue.

Market Segmentation

One way of assessing the business' foreign language requirements is to do a language

audit. Audits are used to assess existing language skills and to identify gaps in
knowledge. An audit will be used to analyse the flow of written and spoken
communications within the business. It may cover, for example, fax, memos,
company documentation, reports, sales literature, manuals, procedures, reports and
invoices. It will also look at oral communication skills, e.g. telephone calls, social
meetings, customers, traveling, videoconferencing and presentations. From this,
managers will be able to assess exactly how much of the business relies on foreign
language knowledge.

The audit will help managers identify whether they need to employ a translation or
interpretation professional, whether the business needs foreign language or business
culture training, or whether the business will run smoothly without such knowledge.

Types of Translation or Interpreting Service

Managers need to decide exactly what type of translation or interpreting service will
be best for the business.

 In-house or External

The small business will tend to outsource translation/interpreting requirements.

However, if it is to be an integral part of the business, it may be useful to set up an in-
house service. The language knowledge required can be considerable and often needs
to be coupled with strong technical or product knowledge.

External providers tend to be companies or freelance contractors. Companies are

commercial providers of translation/interpretation services. They will offer a range of
languages and subject knowledge. Freelance services tend to have knowledge of
specific subject areas in one, or occasionally two, languages. Translation services are
being offered more and more over the Internet. It is important that the business checks
first that it is dealing with a reputable firm and finds out if its software packages are
compatible with those used by the business.

Translation providers can often offer a one-stop shop, offering services that not all
individual freelance translators will necessarily provide, e.g. typesetting, publishing,
or simply the ability to co-ordinate large multi-lingual projects.

If the business chooses to work with external providers, someone will still be required
to manage negotiations in-house. Someone will need to be appointed to negotiate
delivery, process payments, etc.

 Machine Translation

Machine Translation (MT) is set to become more widely used in the future. It is useful
for very specific purposes. It may be useful if the business needs to produce repetitive
texts (manuals and parts lists, etc) or if 'gist' translations are needed (which may or
may not be post-edited).

Types of Language Training Available

The type of training decided upon will depend on factors highlighted by the language
audit. How many people need training, what level of language knowledge do they
have, do they require recognised qualifications?
College Courses

Most colleges and universities offer some language training. They will normally result
in a recognised qualification. One problem may be that the scope of the course is not
business specific. Courses tend to run over the academic year and may not fit the
business' needs.

Business Training Centers

There are a number of private, specialised training organisations which offer a range
of business specific language courses. These courses can be run as residential, open
learning or can be provided at the business' premises. They can often be tailored to the
business' requirements.

Open Learning

This type of training will use videos, audio cassettes and text books for training.
Students on this type of course need to be extremely motivated to learn.

In-house

Many business training organisations will offer tailored training to be run in-house at
the business' premises. This can be cost effective if a number of staff need to be
trained in the same language.

One-to-one Training

Individuals or small groups are trained by qualified tutors. Tutors can often be native
speakers of the language. It is important to check their credentials and whether they
have had any experience in training. More specifically, do they have business
language knowledge?

When the business has decided on a type of trainer, it is important to specify exactly
what is expected from the course or from the training. It is recommended, where
possible, to get tailored courses which cover key business areas.

Types of Business Culture Training Available

Open Courses

A number of organisations offer business culture awareness training. These tend to be

run at external venues and are bookable. They are not particularly useful for large
business groups; they are more helpful to individuals. They provide information on
how to negotiate with people in different countries.

Tailor Made Courses

Culture specific tailor made programmes for businesses tend to be offered by smaller
training organisations. They may be run on the business' premises or at a local training
venue. Such courses will often be preceded by a consultancy process in order to
understand exactly what the business needs.

Choosing a Language Training Course

Choosing the right course will depend initially on the needs of the business and the
language audit. Managers should also discuss options with their staff - which are the
best courses for them? Where possible, it is important to seek independent advice; the
Association of Language Excellence Centers can point managers to language
training/business culture training organisations. It is advisable to check out a number
of suppliers, obtain personal recommendations or references, and compare prices to
ensure the business gets value for money. Some organisations will provide
demonstrations of their training and most should assess the learning capabilities of the
students before making rash promises, e.g. fluency within a week.
Strategy and Implementation Summary

Capital Translation Service faces a tremendous amount of competition for its targeted
client group but few translation services have as strong a network of editors and
translators.

Capital Translation Service will aggressively market this network with our target
clients.

Competitive Edge

Capital Translation Service' competitive advantage is the experience of its project

managers and the network of editors and translators that have been assembled for
each project.

Capital Translation Service has gathered translators and editors in more than 14
languages.

All translators and editors are native speakers. Our translators are accredited by the
Translator Association or other similar organisations. Our editors are required to have
a medical education and practice in the medical field. In all cases, translators and
editors are selected so that their specialisation matches the company's industry.

The following are examples of our professional translators and editors.

Translators

Spanish: a third-year student in pharmacology who is highly involved in research and

development projects.

French: a researcher with a M.S. in molecular biology. She has over six years
experience as translator both in Europe and the United States.

Editors

Japanese: a student at Osaka University, specialising in toxicology.

German: recently completed Ph.D. in pharmaceutical biology from the University of

Freiberg, Germany.

Sales Strategy

The heart of Capital Translation Service is the network of editors and translators we
have assembled. This resource is invaluable to companies bringing a product to the
international market. Our marketing strategy is to sell this advantage to our target
clients.
Management Summary

Organisational Structure

Capital Translation Service will assign a project coordinator to each project who will
work in close association with the client on each of his/her translation projects, in
order to maintain consistency and quality of services. The positions of editor and
translator will be contracted out. The project coordinator will manage the project's
translator and editor.

Choosing a Translator or Interpreter

It is important to find reliable and professional translators. A number of organisations

will be able to help. However, it will be useful to consider the following points before
choosing a translator.

 How long have they been in business and who else have they worked for? It is
important to obtain references where possible. Are they members of a
professional body?

 Are they native speakers? If not, what qualifications do they have?

 Should they have specialist knowledge of the business sector or product?

 (vii) After choosing a suitable translator, managers should make sure they are
provided with all relevant background information and deadlines for the
translation.

It is important to make sure all translators are culturally adapted (direct translations do
not take into account cultural differences). The translator must be briefed in full. They
need as much background information as possible about the business and its products,
including access to any terminology glossaries.

The best translators and interpreters are often booked well in advance, so it is
important to plan ahead.

Personnel Plan

Capital Translation Service will have the following positions:

 Project managers (2).

 Marketing person.
Strategic Direction

SWOT Analysis
This is a summary of the business's most important strengths, weaknesses,
opportunities and threats.

Strengths of the Business

Excellent quality product

"Which means that" Adds to reputation.

Good management skills.

"Which means that" Well run business

Good ability to extract information.

"Which means that" Can control the business.-

Weaknesses of the Business

New Player.
"Which means that" Credibility problem may affect initial sales

Lack of systems
"Which means that" The company needs to develop systemised
operational & sales techniques or sacrifice profits

Opportunities in the Marketplace

Add-on products such as **

"Which means that" A potentially enormous market for {YOUR
COMPANY NAME} to tap into.

Growing market segments.

"Which means that" {YOUR COMPANY NAME} should target these
segments.

Threats in the Marketplace

Increasing supplier prices.

"Which means that" Resulting in reduced profitability.

Declining size of the ** segment.

"Which means that" Need to focus on growing segments to spread the
company's portfolio
 The Actual Plan

Business Objectives

Corporate Objectives (Goals)

Short Term Corporate

To achieve a sales level of £xxxxx

To achieve profit level of xx%

Long Term Corporate

To achieve sales in 201B of £xxxxx

To achieve sales in 201C of £xxxxx
To achieve sales in 201D of £xxxxx

Marketing Objectives (Goals)

{your product}
#1 Segment: To achieve sales to £xxxxxx
#2 Segment: To achieve sales to £xxxxxx
#3 Segment: To achieve sales to £xxxxxx
Other: To achieve sales to £xxxxxx

New Products

To evaluate and launch new products or services which will turn over
£xxxxxx in the first year.

Production Objectives (Goals)

To achieve production level of xxxxx (your product).

To increase production capacity to xx% of plant capacity.
To reduce production costs by x%

Other Objectives (Goals)

To not exceed a production budget of £1xxxxxx

To not exceed a marketing budget of £xxxxxx
To not exceed a payroll budget of £xxxxx
To not exceed a general overhead budget of £xxxxxx
The major task objectives for each area of the organisation, together with
responsibilities and timings are detailed in the Roll-Out Plan.

Marketing Plan

MARKETING OBJECTIVES

Sales Objective To achieve sales by XX% to £XXX

Sales Objectives by Market Segment.

#1 Segment: To achieve sales to £xxxxxx

#2 Segment: To achieve sales to £xxxxxx
#3 Segment: To achieve sales to £xxxxxx
Other To achieve sales to £xxx

PROMOTIONAL STRATEGIES

Print Advertising

Develop a corporate brochure.

June 201A

Advertise in local publications

Jan 201A

Advertise monthly in magazines that are specifically targeted to the ** and

** segments.
Jan 201A

Advertise monthly in magazines that are aimed at the general industry.

Jan 201A

Lead Generation Program

Conduct monthly on-going lead generation program. Send out monthly

direct mail leaflets with response coupons. Qualify leads and make
appointments by using telemarketing staff.
Oct 201A

"Centers Of Influence" Program

Personally contact at least ten potential partners each week.

Produce a monthly newsletter that shows examples of (your products) and
how customers have benefited from using them.
 Oct 201A

PR Program

PR release to be initiated each month to various trade journals and

magazines.
Jul 201A

Sales Force

Employ telemarketing staff.

Sep 201A

Employ sales specialist for ** segment.

Mar 201A

Implement a new structural programme for the sales force, allocating sales
reps to accounts and segments rather than area.
Jan 201A

Organise training programme to be implemented.

Jan 201A

Lost Customers

Contact monthly all past customers that have not re-ordered to ask why not
and see whether we can win back their business.
Dec 201A

Follow up Enquiries

Contact all enquirers monthly and determine if they have purchased from a
competitor and, if so, why.
Dec 201A

Existing Customers

Follow up all new customers two weeks after they purchase to ensure they
are satisfied with the product.
Jul 201A

Send quarterly newsletter to existing customers to keep them informed of

our other products.
Jan 201A

Try and up-sell all enquiries for our standard range to our premium range.
Feb 201A

Sales Promotion
Develop an ongoing sales promotion to target existing customers.
Aug 201A

GENERAL MARKETING STRATEGIES

Competitor Profile

Keep updated competitor profile.

Jun 201A

Marketing information system

Document on every enquiry "How did you hear about us?"

Jul 201A

Document on every order "How did you hear about us?"

Jul 201A

Produce monthly sales reports by product, by market segment, by territory

and by sales representative.
Mar 201B

Financial Plan

FINANCIAL Next Year's Objectives

Net Profit To achieve forecast net profit of

£xxxxx.
Gross Profit To increase the average gross margin
for all products from xx% to xx%.

Budget To not exceed the following expense

budgets.

Production budget £ xxxxxxx

Marketing Budget £ xxxxxxx
Payroll Budget £ xxxxxxx
Management Overheads £ xxxxxxx

FINANCIAL STRATEGIES

Cash Flow
Eliminate cash shortage in the traditional tight periods of December to
January
Jun 201A

Collection Days

Reduce the average collection days from xx days to xx days.

Jun 201A

Payment Days

Maintain payment of bills, on average, to xx days.

Jun 201A

Expenses

Develop and implement new policies on approval and signatories on

expenses.
Mar 201C

Leases

Pay off the existing lease on capital equipment, thus reducing the monthly
financial burden.
Jun 201A

Overdraft

Reduce the overdraft from £xxxxxx to £xxxxxxx

Jun 201A

Wages

Pay all wages on a monthly basis instead of weekly.

Jan 201A

New Equipment

Organise funding for the £xxxxxxx expenditure on new equipment.

Jan 201A

Payback

Ensure a payback on new equipment through sales of one year.

Jun 201B

Inventory

Improve the number of stock turns to xxxxx a year.

Jun 201A
Rent

Negotiate new terms on the premises and reduce existing payments by xx%
Aug 201B

Bank Charges

Renegotiate with the bank and consolidate some outstanding loans with
lower interest rates.
Aug 201B

Organisational Plan

ORGANISATIONAL AND MANAGEMENT

Next Year's Objectives

Budget To not exceed the payroll budget of

£xxxxxxx
Staff To employ or re-deploy a total of xxxxx full-
time and part-time staff over the next year.

HUMAN RESOURCE STRATEGIES

Organisational

Draw organisational chart.

Aug 201A

Develop incentive scheme related to job requirements.

Aug 201A

Policies and procedures

Develop policies and procedures manual.

July 201A

Employ or re-deploy staff

Employ telemarketers.
Sep 201A

Employ one specialist ** salesperson.

Mar 201A

Employ one marketing assistant.

Feb 201A
Employ one accounts receivable person.
Jul 201A

Training

Carry out training needs analysis.

Jan 201A

Morale

Install suggestion box.

Jan 201A

Organise monthly meetings to follow up tasks

Jan 201A