Starting a business as an Entrepreneur: Business Plan

Executive Summary

In this study, numerous aspects of business plans in entrepreneurship that were designed to work with after conducting a research in the trends of markets in developed countries including the US. Business communication is essential in all the designed programs. A major obstacle it faces is the secretary that deals with communications daily. Any products based or service oriented company’s progress and success depend upon many different factors associated with the specific business and marketing strategy devised by it. Out of these one of the most important are the company’s interpersonal and e communication strategies that makes the company to reach out to its potential and existing customers (Chen & Yao, 2009). These communication strategies are subjected to the correct mix of electronic or no electronic communication practices in order to make the company prosper.

This study gives insight of the company under consideration that is also indulged in international business. We have tried to make a comprehensive assessment on the famous business firm, Camry Hybrid and tried to analyse the competitor’s communication strategies as well as suggested some methods to make the company’s communication channel better. Camry Hybrid has started its business operation in many countries and it also looking to provide various production facilities across different countries of the world (Frank, 2007). Camry Hybrid is massively involved in sports sponsorship with having investments from 2008 summer Olympics and 2014 winter Olympics. The company has been a market leader ever since and has been facing cut throat competition with its competitors. Camry Hybrid being the market leader has done almost everything right with its communication except a room for some improvements are still lacking. This paper is the assessment and analysis of any possible business specific improvements which can make the company a better one if implemented on the right time.

It is a fact that is established through research that making innovations in a diversity of networks is complex and challenging. Currently Camry Hybrid is not using any extraordinary means of communication strategies which means that the company needs to update and thinks of new and innovative means of communication that can aid the age of today. The company should cut off its expense and should devise a correct mix of electronic and no electronic means of communication. Based upon the research on certain business specific guidelines, we can say that the company needs to be more focused on the electronic communication practices which can be beneficial for both the company and the customers. It is therefore an established fact that by employing these guidelines and recommendations and understanding of business communication practices, the employees and the company both can strive their way leading towards the success.

Through this study we will try to explore some concepts about the electronic and non-electronic communication practices followed by Camry Hybrid. Camry Hybrid, the famous international brand name used in the field of sports pursues a particular business strategy. This business strategy needs to be comprehensive and includes adopting some great technological ways and communication tactics to compete with its competitors. These communication tactics involve continuous research and development and suggesting certain new ways improving the core communication line of this business entity.

Target market, segments and positioning followed by the Camry Hybrid

Camry Hybrid is one of the largest automobile companies of the Australia. It priors to a diversified business across the Australia and other developed countries to deliver products of value and also simplify the operating model. It was launched under the Japanese famous world-wide brand ‘Toyota’. It’s headquartered in Toyota’s Australian Plant situated in Altona, Victoria, Australia. Basically being operated by the supervision of Japanese car manufacturing giant, Toyota, it was designed to be an affordable hybrid car for the common man with in Australia in 2006. It was designed with an objective to satisfy people’s transportation needs and to give them joy. However, soon after being displayed in the motor show in 2010, the tragedy stroked.

Camry Hybrid’s distribution dynamism across the globe includes occupation in Pacific islands, New Zealand and Middle East. Camry Hybrid has also some operations running that affiliates to provide some investment management services to non-Australian clients. Initially, back in the days Camry Hybrid(under conventional models for Toyota brand) sales in the Australia were a bit slower comparatively to the other parts of the world. Mainly due to the cars round shaped design and small size. The advertising agencies in the last century introduced various car models of Toyota which became the reason for top selling auto import in the Australia.

Non-electronic ways of Communication

According to the research, best oral and written communication strategies have been improving the way international business work. Reaching to the target audience with efficiency and effectiveness is really important. For this purpose it is important for any company have a strong communication channel that not only is firm at communicating internally but also is effective in reaching out to the target audience. Being a re-known brand in automobile industry Camry Hybrid has reduced the non-electronic channels for communication to more advanced and technology oriented ideas. Only the internal communication that is between the employees and the company is non-electronic. The influence of member and supervisor communication effects the rate of employee motivation as a whole. This non-electronic communication includes sending memos to the staff within the company of a particular country, taking suggestions manually from the members of the company and also making sure that employees are communicated with the organizational culture without any electronic means.

Camry Hybrid only takes part in being non-electronic in the newspaper of the country it is operating in. This is the only non-electronic method and practice that is left with the company to reach out to its customers. Camry Hybrid has therefore limited its practices to being the most advanced ones

Camry Hybrid also deals with its suppliers in non-electronic ways by making them understand what quality and value they need and desire. The communication is done on face to face basis by the employees of the organization only who conform to the quantity and quality of the products supplied as well. The company communicates with the public through electronic ways of medium too except the local newspaper.

Brief analysis of consumer perceptions and behaviour about the Camry Hybrid

Digital and Electronic age has advanced and is rapidly speeding day by day. The use of smart phones has changed the ways our mind used to work. The key to get the message communicated within the span of a second to the maximum people is by using internet or social media. This is the age of technology and Camry Hybrid believes in that. This is the reason why the company has highly electronic ways of communication to its target audience, employees, suppliers and the public. The company believes that this way is way more inexpensive, efficient, fast and productive. The company has accepted technology as a whole and is ready for any further enhancement and technological expansion.

The company uses social media as a tool of communication to reach out to its target audience. Twitter is the most efficient social networking site used by the company. Any updates regarding the company that needs to be made official are through this medium. The company also engaged information by writing blogs on the site and also by using digital newspaper as a medium for effective communication to the public. A blog contains handful knowledge for the users which can work like a gold mine for providing business intelligence. The company also use electronic means of communication with its suppliers as everything is digitalized.

Camry Hybrid is now a brand famous in Australia and other parts of world thus it believes in making things transparent to the employees, customers, public, opinion leaders, politicians etc. The right communication plays an important role for the company and this is the reason why the company has engaged itself in being really fair and transparent in communicating with the customers and employees on transparent platforms. No information contradicts another as that count for the reputation of the company. The company therefore uses a great deal of internet, advertising and direct mailing systems to become transparent and speak for its value and reputation.

Marketing Mix

SWOT Analysis:

SWOT analysis helps to measure and predict the potential standing of the company or the issue described. The evaluation of the company’s strengths, weaknesses, opportunities and threats help us to determine whether the particular subject under consideration is economical , correct or right or not. Conducting the SWOT analysis of the communication strategies of Camry Hybrid we can come to a conclusion whether the company is doing the right kind of communication or not. From studying the communication strategies of the company specifically we can judge the SWOT analysis also the current standing and consequences of this communication can give us an idea. We can evaluate SWOT analysis on the communication practices of the company as under:

Strengths:

• Having the right communication mix that works for the company.
• The communication mix is intelligently designed and highly electronic which matches with the age of today.
• The communication mix helps the company to communicate with the maximum amount of customers and employees globally.
• The communication mix is cheaper and easy to manage.
• The overall communication of the company is time efficient and effective.
• The overall communication of the company is not complex and easy to understand and deliver.

Weaknesses:

• Most of the target audience and employees of the company are not technologically updated and hence they might miss on some important updates by the company.
• The company might need to have some non-electronic methods of communication for prompt action.
• The company might not be facilitating many employees from different countries because of this communication mix.
• The company is doing nothing innovative by just communicating on the internet.
• This is the cheapest and the most common communication mix.

Opportunities:

• The company can set an example for being the most technologically advanced.
• The company can make more innovations taking electronic methods only.

Threats:

• Major threats for the company’s communication are the threat for duplication of the communication mix.
• The threat of the competitor to come out with better overall communication.
• The threat of not reaching out to the potential customers but to the general public.
• Wastage of time and energy for targeting non potential customers.
• The threat of not taking care of the diversified employees all over the world.

Communication practices of the competitor

Ford motor company is the strongest top most competitor of Camry Hybrid. The company has value and image of its own and is recognized for the cheapest car in the history of all times. The company believes in the digital age and uses social media as a vehicle to communicate its message worldwide. The message through social media is advertised to the customers. The company also uses the way of traditional advertising to communicate to its potential customers. The social media vehicle comprises of YouTube, Instaram, Twitter, Facebook and Google+ etc. Non-traditional ways of advertising comes under the BTL activities done by the management. They are the unique ways of communicating the message to the customers that are non-electronic.

Other strong competitors of Camry Hybridare Mazda 6, Honda Accord and Hyundai. Mazda 6 Motors also makes use of the traditional methods of advertising. Social media is the key electronic medium of communication. Although the company doesn’t feel the need of being technologically advanced, the company still touches the parameters of common electronic communications. The sensitivity and the activeness of these mediums differ internationally as the company is also a global brand. The company however is more traditional in the ways of communicating compared to its competition.

Comments on both Micro and Macro environmental forces affecting the Camry Hybrid

Hybrid technology based automobiles are more environment friendly than diesel or petrol based cars(Agarwal & Dev2013, p 1-6). People are responsible for well-being and destruction of their surroundings. Things are made and preserved by people. Several methods are involved in this context. Habitability is used in terms and sense of ‘better enough for living in connection with the establishment of a habit’. In general terms we can say that both terms used simultaneously convey the meaning “improved and better conditions for living life “community member environment specific behaviour is dependent on the social and environmental needs and progressively advance until the satisfaction of self-actualization needs. When a community member perceives that a product befits his or her satisfaction criteria or need, he or she engages in internal and external dialogue before environment specific behaviour.

Conclusion

Current strategic scholarship is the way managers of Camry Hybrid make a strategy which encompasses specific and real techniques and practices relevant to the company’s nature. As a result top Management of the company has been trying to improve ways and methods to improve business communication all around the globe. In colleges like these weaknesses in each student is identified and dealt with beforehand. A company indulged in an international business works at its best when its workforce is well coordinated with firm communication with its customers and suppliers. To have an outstanding example of such a global business the company needs to find the correct ratio of mix of its overall communication. Many top most international corporations were examined to have communication strategy at top most priority. In almost 52 outstanding countries emphasis is given on written and oral communication to excel in the professional business afterwards. This can only happen when the correct combination of electronic and non-electronic communication mediums are selected that matches with the nature of the company as a whole. This highlights and explains the importance of the communication strategy towards the global business. In a nutshell companies that understand the employee engagement and communication will be focused more into their emotional wellbeing which will give productive results.

References

Chen, X. P., Yao, X., & Kotha, S. (2009). Entrepreneur passion and preparedness in business plan presentations: a persuasion analysis of venture capitalists' funding decisions.Academy of Management journal,52(1), 199-214.

Frank, A. (2007). Plug-in Hybrid Vehicles for a Sustainable Future Appropriately designed hybrid cars will help wean society off petroleum. The necessary technology is available now.American Scientist,95(2), 158-165.