Company name: Hampton Ship Building Company
Product: Personal recreational motorized boats, eco-friendly
Approach Model: Entrepreneurial
Using the above information develop a proposal that would include a company overview of pro-forma, its business principles, its contributing team members including details about their skills and strengths, and a basic pro-forma income statement utilizing business premier index. This should include basic cost projections and other resource requirements for the product.
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This paper will develop the proposal for Hampton Ship Building Company in its business planning for the launching of personal recreational motorized boats, eco-friendly. This paper will discuss the different aspects of business planning such as required strengths and skills of the team members, business principles and pro-forma income statement. It will help to increase the effectiveness of process of business planning and to facilitate effective control.
Hampton Ship Building Company is an entrepreneurial firm that is planning to launch eco-friendly personal recreational motorized boats that is quite innovative idea within the industry. The company may capture effective market share in the ship building industry due to its eco-friendly product. The continuous focus over the environment and increasing demand of the personal recreational motorized boats due to technology advancement provides a competitive advantage to Hampton ship building company within the industry (Reportlinker Adds US Recreational Boating Market, 2011). Economies of scale in production, design and manufacturing is enjoyed by Hampton Ship Building Company that are the important competitive landscape for the organization.
Business principles help to determine the direction of business and also to integrate the interest of all the stakeholders (Kumar & Steinmann, 1998). Hampton Ship Building Company will operate its business based on the following principles:
- Proper comply with all the applicable laws and business ethics
- Interest of client and client satisfaction will always be prioritized
- Perform the business operation as corporate citizen by maintaining a clear and healthy organizational culture (Connors & Buffett, 2009)
- Respect the employees, shareholders and customers and their dignity and ...
This solution provides a detailed discussion of the given financial accounting question.