MANAGEMENT RESEARCH PROJECT AND PRESENTATION ON EDUCATION INDUSTRY

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INTRODUCTION ABOUT TASK

In this task we have to do make a proposal for the project, which should be contain title of the project, their nature of the industry as well as their background of the project. This task is also containing that specific business needs requirement on the theoretical part of the project, where there are certain theoretical debates on the project. On the last part of the task show that, how the project would be the competitive in to the market and make their strategy to be in to the market.

OBJECTIVES

Make business proposal, with tile and nature of the project

Basic theoretical debate, related your study

Project competitiveness and their strategy.

TASK 1.1

TITLE OF THE PROJECT

To start a Tuition Class for Std. 8 to 12.

NATURE OF THE PROJECT

Education Industry

OBJECTIVE OF RESEARCH

"To provide an assistant for extra learning to student."

INTRODUCTION

It is necessary for everyone to educate. I think that an education would be a broader concept which consists to all the knowledge and skills which brings improvement in their lives. It is in the educational institute, home or in to the society. An Education should be a meaningful. An education has its aim and their benefit which is not just wastage of time and resources. An education is providing knowledge, skills, techniques and discipline. Education gives the knowledge of the world. School and college is the first level where people have to get education, where as now a day one additional thing to be added is Tuition classes which give an extra benefit to studies and providing knowledge to the student.

BUSINESS CASE STUDY

To survive in to the world every individual need Oxygen, Education is the one of the important things which provides a knowledge and skill to the people, which is like Oxygen to the people. At every level of age an Education is more important to people, there is no limit to learning. Children has to required an education for learn about how to speak and write, whereas on student has to required to achieve at higher education. Every company manager or director has to need education for the making certain decision or changing their business environment. So everywhere from starting from the baby born to till death an education is important.

BACKGROUND OF THE STUDIES

I was working in education industry before some time in a partnership with one of my friend, now i would like to start my own tuition class in India, near my home. The location which i has choose is just near to the school where i was studied, and because of school principal and teachers are knowing this will be more benefit to my institution.

Now a day an Education is more important and there are large number of competition for higher education and student are not satisfied with the school studies they need to require something extra from different way. I would like provide certain assistant and knowledge to go for the higher studies.

TASK 1.2

THEORIES OF THE PROJECT

PORTER'S FIVE FORCES

Porter five Forces is one of the tools which simply powerful to understand the business situation, which helps you to understand the positive and negative point in to the competitive position. it is just help you the power of the business lies and it helps to make an important part of the planning. Michael Porter has provided that the model of an industry is being influence with certain forces which are as under,

http://emerging-entrepreneurs.blogspot.com/2009/03/porters-five-forces-analysis.html

RIVALRY

There are large numbers of competition in to the education industry, and there are large numbers of competitor in to the market. In the education industry price of the given service is not much important but everyone can see that how the service is provide or education is provide, it is depend on the what kind of result would be in to the market for the particular classes. For the competition as a new business is very much high degree and to compete in to the new business there are more difficult to the new firm. For getting success in to the education business there has to be do something new to attract the new student from the competitor.

BUYER POWER

The customer is one of the king for the any business, when we are starting new education business there are student who is customer, what to get better study compare to other educational institute. It there are few buyer then they are dictate the terms. The bargaining power of the buyer is higher when choices of the many educational institutes are there. Switching to another institute would be depended on to their performance and their study.

SUPPLIER POWER

There are large number of supplier in to the market, which going to create a relationship with each other on their business way. The supplier providing material to the business which is requirement of the business with higher price if the supplier in to the market is low, but if they are high then business can get choice to select the best of them.

THREAT OF SUBSTITUTE

Substitute product is one of the same products which we are selling in to the market. In Education industry there are large numbers of institution which provide a same kind of thing. The threat of consumer will be switching to the substitute product or services will be increase when the price of product or service will be increase or opposite of the same.

THREAT OF NEW ENTRY

There is threat for the new entry in to the market. There are large numbers of institution working in to the same business where we would like to work; the firm who like to enter in to the market there are many factor which will affect to enter in to the business.

SWOT ANALYSIS

SWOT analysis is one of the powerful techniques for the educational institute where we are going to set up. There are many strength which helps to start new business, and some of the weakness which has to be clarify through different strategy, on the other and there are opportunity to doing success in this business, and some of the threat of the business are also related.

STRENGTH

Place of the Institutes : Place which has to be selected for the new business is to be near to the school which is gives a benefit to the business, another thing is that it is near to the main road which is attract the student came from long distance.

Solid Foundation: I had worked in the educational institute in past and because of that i have solid background to start new business as education.

Highly Qualified Teachers: There are many qualified teacher we had selected to take new business, and this teachers are one of the strength of the business.

Extra Class Benefit: We are going to provide extra class facilities to the student at the time of exam; we are also doing revision class for the student to help.

WEAKNESS

Lack of Teaching Experience: I do not have any teaching experience, i was not working as teacher in any institute, and this is one of the weaknesses of the business.

No Promotion: at time of initial activities we are not going to do promotional activities, it is another kind of weakness of the business.

Technology Support: we are going to start new business we are required to new technology which was not with us at time of starting of business.

OPPORTUNITY

Provide Computer Training: we are going to provide a added benefit to our student after sometime computer training which is the way to increase the oppornitities.

Higher need of English: we have an opportunity to start new thing in our business which is English class for those who are interested to learn speak English.

THREAT

Large competitor: there are large number of institution in to the market, which are providing in to the same kind of services in to the market which is quite competition in to the market.

Computer as Substitute for Teachers: Now days when people are working in to computer and they are always trying to work on internet this is the one of the substitute for the education institute.

COMPETITOR ANALYSIS

Competitor analysis is more important for the finding out of the who are the competitors of the business. Competitor analysis is marketing and strategic management, which is essential element for the finding out the strength and weakness of the competitor. This analysis is provides a strategic context to identify the opportunity and threat of the business. Competitor analysis has two kinds of primary activities, like

Obtaining information about important competitor

Using that information to predict competitor behaviour

The goal of the competitor has to understand on the

With whom you are compete.

Strategy of competitor and their actions plan

How the competitor will react when the plan of action we do?

REFERENCES

http://www.hamariweb.com/articles/article.aspx?id=12

http://ezinearticles.com/?Why-is-Education-Necessary?&id=4110184

http://emerging-entrepreneurs.blogspot.com/2009/03/porters-five-forces-analysis.html

http://emerging-entrepreneurs.blogspot.com/2009/03/porters-five-forces-analysis.html

http://www.mindtools.com/pages/article/newTMC_08.htm

http://www.slideshare.net/azka1/swot-analysis-department-of-education-sargodha-university

http://www.teachernet.gov.uk/professionaldevelopment/tipd/guidance/swot/

TASK 2

INTRODUCTION

After preparing the proposal for the new project, there would be a certain thing which has to looking is that as a business owner you have to identify the resources which you have to require for completion of the task and the cost which is associated with that. The cost of the project should be measure by you to understand the project clearly.

OBJECTIVES

Identify the resources which required completing the project.

Identify the cost associated with the project.

Set up budget for the project.

Prepare a Cost benefit analysis of the project.

Produce a report on staff development and training costs.

TASK 2.1

RESOURCES REQUIREMENTS

For starting of new Tuition class we need to required different kind of resources, which has to necessary for every business starting.

MATERIAL RESOURCES

As we have required material resources, we need land or place where we start the tuition class. As a material resource we need to required different other resources which is like Sign Board, Leaflet, and certain promotional material. The first source of material is to be the space where we have to start the business.

EQUIPMENT RESOURCES

There are certain equipment required for the starting a new tuition classes. The equipment like writing board, Benches/student chair, computer and stationary.

LABOUR RESOURCES

The requirement of the staff in one of the biggest sources for the any business. For the starting new tuition classes we need 5 teacher, 1 peon and 1 administration staff.

FINANCIAL RESOURCES

Another resource which required for the every business is to be finance. Finance is the life blood of the every business, which required for the every kind of activities in to the business. It has to be required for the tuition classes. There are Rs 100000 required for the starting a business.

COST ASSOCIATED WITH THE RESOURCES

For the every resources has to required certain kinds of cost, which is one of the basic requirement of the business. When we are developing or starting a new business there is certain cost which has to be basically related with that. the cost which is directly related to the business activities or their plan.

MATERIAL COST

The material cost which includes the cost of land/shop where the business has to be start, the other material would be stationary cost, printing of sing board and leaflets.

MATERIAL

COST IN Rs

Shop (on Rent/month)

20000

Sign board Print

3000

Leaflet Print

4000

TOTAL

27000

EQUIPMENT COST

There are certain equipment required for the starting of business, which cost are as under.

EQUIPMENT

COST IN RS

Computer

25000

Writing Board

5000

Student chair (30)

55000

TOTAL

85000

LABOUR COST

LABOUR

COST IN RS

Teachers (5) (Monthly Salary)

15000

Peon

2000

Administrative staff

2000

TOTAL

17000

SOURCES OF FINANCE

For the every business when it is being started their operation they had to required money this money would be known as finance of the project. The running of the business smoothly and their activities there would be requirement of finance which has to be fined from different sources. The sources of finance would be as under.

Owner's capital: Owner is the one main person of the business, he is one and the first sources of the finance and this would be an internal source of finance. There are certain amount of finance would be done by the owner himself. For the starting of tuition classes there are some of the finance would be done by self.

Bank Loan/Overdraft: The other sources of finance would be bank loan or bank overdraft. Bank loan is the for the long term finance which is basically on the fixed or floating rate of interest. Bank loan has to be paid at for the certain fixed period of time. on the other hand bank overdraft would be paid for the limited time period and it was on high interest rate.

Friends and family: The other sources of finance would be called "love Money", which is basically get for certain time period and it has to be paid at the time of requirement which is basically for the help from the family or friends.

Share capital: The other source of finance is share capital which includes equity and preference share capital. This is one of the sources for the company.

PROPOSAL FOR GETTING FINANCE

FROM : SANDIP PATEL

TO : THE BANK MANAGER

Bank of Baroda, Isanpur, Ahmedabad, Gujarat, India.

SUB : APPLICATION FOR LOAN/OVERDRAFT REQUIREMENT

DATE : 03/11/2010

Dear Sir,

I am Sandip Patel, living at near Isanpur, i would like to apply for the bank loan, because i would like to start new business for the tuition class which is near to the Muktajiva school, and i would like to required certain finance required where i would like to use for the Loan or overdraft facilities from the bank

I would like to required Rs 60000 from the bank as Loan/Overdraft for starting of my new business, i will you assurance that i will repay my money to bank with the given period of time.

I am very looking forward to hearing your positive reply and urge to hope you to enough funding from you.

Your faithfully

______________

(SANDIP PATEL)

BUDEGET FOR THE PROJET

A budget is basically list of all the planned activities which includes the revenues and expense incurred in to the project. A budget is a planned activities which organization has to calculated in monetary terms. The process of calculating the costs of budget should be begins with the list of purchasing and all the expenses should be done for the starting the business. On the other hand it has to be shown that the income has to be done from that would be calculated from that.

EXPENSES

RESOURCES

COST IN Rs /year

MONTHLY COST

Material

27000

2250.00

Equipment

85000

7083.33

Labour

17000

1416.67

Misc.(expense)

5000

416.67

TOTAL

134000

11166.67

COST BENEFIT FROM THE PROJECT

Cost benefit has to be shown that how the project will be going on and the given planned of action to be done. Cost benefit analysis is to be analysis to find out the quantitative benefit which has to be done from the project which is going to subtract from the expenses has to be done in the project. The cost benefit analysis shows the cost which are one off or may be ongoing for longer period of time. benefits are most often receive a long period. It would be effect on time to analysis to calculate the payback period. The cost benefit analysis should be shown that how and what kind of benefit should be incurred after certain period of time.

BENEFIT

15 student is going to be in one class.

STANDARD

FEES is in Rs./YEAR

15 STUDENTS/CLASS

MONTHLY FEES in Rs

8

5000

75000

6250

9

6000

90000

7500

10

7000

105000

8750

11

8000

120000

10000

12

9000

135000

11250

525000

43750

EXPENSES

Expenses

Monthly Expenses in RS

Elecricity

7000

Labour

17000

Misc

4000

Bank Interest

3000

31000

EARNING PER MONTH

PARTICULAR

INCOME

43750

EXPENSES

28000

NET PROFIT

15750

REFERENCES

http://www.builderau.com.au/strategy/projectmanagement/soa/Creating-your-project-budget-Where-to-begin-/0,339028292,320265341,00.htm

TASK 3

INTRODUCTION

This task should be containing to show that different kind of tools and techniques for project implementation in account of various resources, and provide a proper time scale to that. you should also show that the various stakeholder should be involved in to your project and their decision making and provide a different kinds of strategy to implement the business plan. And at the last of the project you have to monitor and doing certain controlling activities to measure the project.

OBJECTIVES

Provide a time scale of the project line.

Provide stake holder engagement.

Prepare different strategy list to implement the project.

Monitoring and Controlling to measure the project.

TASK 3.1

TIME SCALE OF THE PROJECT

NO

ACTIVITIES

NO OF WEEKS

1

Preparing a Business Proposal

3

2

Finding Location

4

3

apply for the Loan/overdraft

4

4

Purchase Equipment for Tuition Class

3

5

Recruitment of Staff

4

6

Prepare Holding and Banners

2

GANT CHART

NO

ACTIVITIES

WEEKS

1

2

3

4

5

6

7

8

9

10

11

12

13

1

Preparing a Business Proposal

2

Finding Location

3

apply for the Loan/overdraft

4

Purchase Tools for Tuition Class

5

Recruitment of Staff

6

Prepare Holding and Banners

TASK 3.2

MARKETING STRATEGY AND PLAN

Tuition class should be developed through the proper marketing strategy and their plan. The marketing strategy would be a processed which can be organized and concentrated on their resources on the greatest competitive advantages. Marketing strategy would be determined the choice of target where the market segment and marketing mix would be related. A key marketing strategy of the tuition class would be on the achieving the target of the goal or mission.

MARKETING DOMINANCE STRATEGY

This strategy is measures that strength of the brand, product or service, or firm relatively competitive advantages. It is often geographically element with the competitive landscape. In definition of the market dominance, tuition class must have to see that what extent the product, brand or firm conduct a product categories in given geographically areas.

The market dominance strategy would be based on the quantitative terms. There are four types of market dominance strategies which a market will consider, like market leader, market challenger, market follower and market nicher.

MARKET LEADER:

The market leader is dominant to the industry; it has to be substantial for that market and often extensive to the distribution and their arrangement through distribution. It is an important to us to entering in to the market as tuition class with certain advantages with certain new ways of product or services offering or providing price competitive benefit.

MARKET CHALLENGER

A market challenger is a firm which have strong and not dominant position with following arrangement strategy to trying to gain market share. It typically target the industry leader, but it has to target smaller, more vulnerable competitors. The fundamental principles involved are.

To access the strength of the competitor and consider the amount of support to them

To choose only one target at a time.

To launch the attack quickly and consolidated.

Strategy of market challenger are.

To provide a price discount to the fully cash paid in advance.

To improve the service with regular interval.

Make stronger promotion in activities in to the market.

MARKET FOLLOWER

As a market follower is the firm a strong, but not a dominant position which is content to stay at their position. The rationale which developing strategies that are parallel to the market leader. As being a market leader tuition class has to be showing their little risk, but should have to show their strategy with greatest advantages against their competitors.

Best practice to be with previous experience.

To also able to capitalized the promotional activities as being market leader.

As minimum risk of competitive attracts.

MARKET NICHER

This strategy should be on the concentrated on the selection of the target market, which is called as focused strategy. This strategy is basically focusing on to the particular market with a market effort. Profit margins are emphasised rather than revenue or market shares. The tuition class has to look gain a competitive advantages through effectiveness rather than the warfare strategy.

It has to be high value which added industries and able to obtain high margin.

It has to tend to highly focused on particular market.

The product or service has to be use at premium pricing strategy.

GENERIC STRATEGY FOR MARKET

A generic strategy has to be produced by Michael Porter which contain that organization has their suitable competitive advantages, which has three generic strategies.

http://www.learnmarketing.net/generic.htm

COST LEADERSHIP

This strategy will show that any organization which has to be started their business they have to provide certain price advantages to the customer compare to the competitor. There are large numbers of educational institute and private tuition class is being run with the advantages but when we are starting new business we have to provide higher advantages as price benefit which is going to be attracting to the students.

DIFFERENTIATION

For the being success in to the competitive market as new business the competitive advantages has to be an added advantages for the students and they will read to study at best level. We have to accept the differentiation strategy to the other organization. The competitive advantages will be copied in one from every other.

NICHE STRATEGY

An organization focused strategy is particular on to the particular standard. Tuition class is being working on particular 8 to 12 standards students. The competitive advantages for this niche market and their success at low cost and particular segment. The differentiation on to the service at low cost with particular segment which is an advantage to the student.

STAKEHOLDER ENGAGEMENT

Stakeholder engagement would be on sustainable development. Without engaging the stakeholders, we cannot reach to the particular project decision. The project would be engaged with the stakeholder with wide range of the concern group their needs and conflict of interest and their level. There large number of stakeholder who is engaged with the tuition class it would be covered all the people who are related with that like, employees, students, promoters, teachers, schools, government etc.

Stakeholder engagement will provides opportunities for the further align of business practice which is related to the societal needs and expectation and help drive long term sustainability with their values. The stakeholder engagement is intended to help the practitioners to fully realise that the benefit of stakeholder engagement in their organization with the changing environment changes.

TASK 3.3

MONITORING & CONTROLLING

Every project should be monitor and controlled properly because the activities should be done in that project. The project activities monitoring and controlling process refers to specifically to those particular processes which are implemented by the owner or partner. In the tuition class the project should be monitoring with their action and the purpose of the project implementation of monitoring and controlling process which includes on their retrospective effect.

The main benefit for the monitoring and controlling project process is essential to maintain the efficient and effective of the work through which project should be run.

Tuition classes should be monitored and measured through different kinds of activities which have to be performed by them, these activities are being on the right track or which has to be required to be on right track. Qualitative and Quantitative performance has to be measured and has to take necessary action for that.

EVALUATION OF PROJECT

Tuition class has to be evaluated through the step by step for collecting, recording and organization about the project output. Evaluation is measuring that how the project should be analysis and how its objective should be achieve. Evaluation of project was what effective way the project should achieve their objective and their outcome of the project.

Evaluation of the project should be assessing whether the programme achieved its aims or objective.

It has to be assessing their impact, benefit and values of the programme in the broader way.

Tuition class has to achieve their stimulate and discuss it with the community.

The knowledge from the programme and lesson learned by every student.

The identify about the area where tuition class has to be develop.

ACTIVITIES MEASUREMENT

NO

ACTIVITIES

NO OF WEEKS

1

Preparing a Business Proposal

3

2

Finding Location

4

3

apply for the Loan/overdraft

4

4

Purchase Equipment for Tuition Class

3

5

Recruitment of Staff

4

6

Prepare Holding and Banners

2

PREPARING A BUSINESS PROPOSAL - 3 Weeks Activities

For the starting of the new business proposal would be a requirement, it would be requirement where the success in to the proper business. The strong proposal of the business will be required more benefit and easily achieve the target. If there is a delayed in to the business proposal it is going to delayed in every other activities or the project should not be started.

FINDING LOCATION - 4 Weeks activities

After preparing the proposal the most important task is to find out the location where the business has to be start and proper location will increase the profit of the business and which is help to achieve the target. This activities required 4 weeks time.

APPLY FOR LOAN OR OVERDRAFT - 4 WEEKS activities.

For the every new start business finance would be a requirement. Loan or overdraft would be one of the thing which has to be important thing to the business. It has to be satisfied the business need, for that 4 weeks time has to be required. If there is any delayed in that the other activities has to be stop because of that.

PURCHASING EQUIPMENT OF TUITION CLASS - 3 Weeks activities.

For the starting of tuition class, it has to require certain equipment to complete it and start it. This will require 3 weeks time for that.

RECRUITMENT OF STAFF - 4 Weeks activities.

A staff is the basic requirement of the business. Tuition class is required minimum 7 people for that and to recruitment of that people need 4 weeks of time and if there is delayed in that the no other activities not being done.

PREPARE HOLDING AND BANNER - 2 Weeks activities.

Banner and Holding has to be prepared within 2 weeks.

The all the activities has to be done at their proper given time, if it is not being done in that time the every after activities is not being done at their given time, and then delayed in whole project, so it has to be required more that 13 weeks times. But on the proper timed project is being started on time in 13 weeks times.

FEEDBACK AND CONCLUSION

Tuition class has to be started at regular time with proper activities time planned and their given planning is being done at every regular time. After completion of the all the activities of the project it has to be required 13 weeks time and after that it has starting their operation. After 3 month of the tuition class would be run on proper way and getting certain benefit with which has been calculated on the above task.

REFERENCES

http://www.wordiq.com/definition/Market_dominance_strategies

http://www.learnmarketing.net/generic.htm

http://www.learnmarketing.net/generic.htm

http://www.revit-nweurope.org/selfguidingtrail/27_Stakeholder_engagement_a_toolkit-2.pdf

http://project-management-knowledge.com/definitions/m/monitoring-and-controlling-processes/

http://www.jisc.ac.uk/fundingopportunities/projectmanagement/planning/evaluation.aspx

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