Consider the following scenario:
Develop a written proposal outlining a specific product or service idea you have for Circle Solutions. Circles's company type and product area have been left unspecified to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market. You may not use the same area or idea used in previous assignments.
Part 1: Proposal
Idea: Wedding Planning and the product is Floral Solutions (arrangements and more)
Your professional proposal should describe a new product idea in detail, giving brief consideration to the feasibility of the following categories:
scalability of product
financials (whether or not the product can be sold for more than it costs to make it's profit potential)
Your product idea must pass feasibility tests for it to be a viable product idea. Future class assignments will further investigate each of these areas in greater depth and will build from the information you identify and deliver within this assignment.
Part 2: Subsidiary Company
Then, provide the strategy to be employed to get ideas implemented internally, or describe the reasons why a product idea should be spun off into a new subsidiary company owned by Circle Solutions. Important aspects of this outline are as follows:
the practical definition of the multidisciplinary team that the product idea requires
describing the different types of team members needed and their respective skill sets
where one would find them for an intrapreneurial versus entrepreneurial approach.
Background: One thing to note is wedding planning is usually executed on a local, or regional basis as local expertise is needed for wedding planning (the planners need to know the area). For the sake of this assignment, let's assume that Circle Solutions is a national wedding planning company that has regional and local offices with local expertise to service local needs.
Your new recommended service is floral arrangement. With weddings, brides get all of their flowers from the same florist, so this service provides a complete floral solution vs just arrangements. Recommended name is "Circle Floral Solutions."
Please see the attached and the below.
Circle Wedding Floral Solutions
Circle Floral Solutions allows each bride more of a one-stop-shop bridal planning experience with the arrangement planning expertise of Circle Floral Solution's floral experts. Circle Floral Solutions will plan all floral needs with brides-to-be integrating the theme, colors and needs of the bride. Circle Floral Solutions will be regionally/locally based with multiple locations to best service the brides needs. This service is scalable and if successful, can be instituted across the US in local markets. Circle Floral Solutions will cultivate extensive relationships with wholesale growers in each market where Circle Floral Solutions does business and will work to get the best deal on floral needs. Circle Floral Solutions will be experts of locally grown floral offerings (usually offering the best deals). Circle Floral Solutions Circle Floral Solutions will provide floral solutions to address the following wedding needs:
? Reception table centerpiece arrangements
? Ceremony arrangements
? Bridal party floral needs (bouquets, boutonnieres, corsages and flower petals)
? List of possible bridal floral needs: ...
This solution provides input into a business proposal for a floral solution product of a wedding planning business. The proposal includes insight into the industry and market as well as staffing and expertise needed to implement the idea. In addition, the solution provides a perspective on whether this new product should be implemented internally or via a subsidiary including a step-by-step explanation outlining the steps needed to implement.
Several web resources are included to provide insight into the product, and industry (including estimated market size).