Business plan is a way to define business objectives with action plans. However business plans are different from marketing plans because unlike marketing plans, business plans do not have action plans, but they have guidelines and strategies to achieve future objectives of the business (Payne & McDonald, 2012). Therefore, one must know how to determine business objectives before designing a business plan. Business objectives are the goal, which organization wants to achieve and business objective of an enterprise is generally reflected in the mission statement of a company (Weese & Wagner, 2011) . Mission statement of the Premier Group says that they are committed to provide best services to clients and candidates and provide quality of services
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The mission statement of this company also gives more importance to the customer service and customer care (Premier Group, 2016). Therefore, Premier Group already has a business plan in place to provide quality services to clients. However, in addition to that the quality of services and its ambit can be improved by extensive use of modern technology in the recruitment services provided to customers. Premier group has a limited client base, which should be improved by 10% in next 5 years. Premier Group can improve the influx of new customers if it provides placement services to the candidates as well. Premier Group can lower the prices charged for services by a little too to attract the new customers. They can explore other sectors like manufacturing to attract more customers. However, they have to give specific training to employees and develop technical tests suitable to that new targeted sector. If Premier Group uses this advised improvements along with the existing business plan, it would be able to achieve the business objectives of customer satisfaction and financial growth. However, good financial growth can be seen only along with the good business over the next decade. Therefore, Premier Group must have target of improving recruitment by 20% over next 5 years. Premier group could use a more aggressive marketing strategy for growth and development …show more content…
Therefore, for Premier Group we need to prioritize the changes according to their needs for growth of business. According to the suggested business plan, recruitment target for the next 5 years is 20% growth in recruitment. Use of modern technology is the need of an hour. Premier Group needs to use modern technologies like cloud based solutions, self-help videos, tailored on-site training for candidates, etc. to improve the quality of services provided to clients. This would save the time of employees of Premier Group too, which can be used for doing more recruitment work. Secondary priority for Premier Group should be to attract the new clients and increase the client base to 10% in next 5 years. More aggressive sales and marketing strategy is a must to attract the clients. This consists of three important measures providing placement solutions to candidates too, venturing into a new business in new sectors and developing new pricing
The mission statement of this company also gives more importance to the customer service and customer care (Premier Group, 2016). Therefore, Premier Group already has a business plan in place to provide quality services to clients. However, in addition to that the quality of services and its ambit can be improved by extensive use of modern technology in the recruitment services provided to customers. Premier group has a limited client base, which should be improved by 10% in next 5 years. Premier Group can improve the influx of new customers if it provides placement services to the candidates as well. Premier Group can lower the prices charged for services by a little too to attract the new customers. They can explore other sectors like manufacturing to attract more customers. However, they have to give specific training to employees and develop technical tests suitable to that new targeted sector. If Premier Group uses this advised improvements along with the existing business plan, it would be able to achieve the business objectives of customer satisfaction and financial growth. However, good financial growth can be seen only along with the good business over the next decade. Therefore, Premier Group must have target of improving recruitment by 20% over next 5 years. Premier group could use a more aggressive marketing strategy for growth and development …show more content…
Therefore, for Premier Group we need to prioritize the changes according to their needs for growth of business. According to the suggested business plan, recruitment target for the next 5 years is 20% growth in recruitment. Use of modern technology is the need of an hour. Premier Group needs to use modern technologies like cloud based solutions, self-help videos, tailored on-site training for candidates, etc. to improve the quality of services provided to clients. This would save the time of employees of Premier Group too, which can be used for doing more recruitment work. Secondary priority for Premier Group should be to attract the new clients and increase the client base to 10% in next 5 years. More aggressive sales and marketing strategy is a must to attract the clients. This consists of three important measures providing placement solutions to candidates too, venturing into a new business in new sectors and developing new pricing