Providing and receiving constructive feedback from classmates is an important component of learning in this course. Response posts should reflect the knowledge gained in this module.
Discussions in this course are post-first activities, which means that you are required to upload your completed initial post first before others posts are viewable.
Before posting the discussion messages, please read the term project instructions.
This activity will provide you with an opportunity to engage in a discussion with this class on a project topic that you have selected to implement as the term project. The class interaction will foster a learning environment in which you will learn from each others experiences and opinions.
In addition, you will practice using project management jargon and expressing your opinions in a professional manner. The options available in this discussion have ethical considerations that are important to consider as a project manager.
Describe the real or fictitious strategic context for your project topic.
My project topic for this class would be starting my own car wash business. Here in San Diego a company called Soapy Joes that my friends and I always use to wash our cars. I like this business because we are busy and are always on the move, and a car wash that allows people to drive thru and be done in just a few minutes would be perfect. I believe a car wash business would generate good profit.
Present a SWOT analysis on the selected industry/organization.
STRENGTHS
The key strengths inherent in AutoCare Car Wash Services include the following:
The good credit record of the entrepreneurs, as well as the commitment in terms of the amount of owners contribution towards the cost of business operations
Good relationships with customers while working informally. These customers will upon launch of the formalized business make use of the improved services of the entity
The past experience of the entrepreneurs in a similar business environment
The good leadership and communication skills of the entrepreneurs
The knowledge and qualifications of the members of the management team regarding general business management and cleaning motor vehicles
Shared values that demonstrate a strong business culture
WEAKNESSES
The weaknesses inherent in AutoCare Car Wash Services include the following:
The lack of sufficient capital to finance the business operations. The business will need to depend on external funding providers.
Extensive marketing will be required to ensure that the business attracts a reliable number of clients every month to meet its operational costs
The informal structure in the business as a result of the insufficient number of back office support employees and other administrative staff. This shall later be rectified as more people come on board as the business expands.
The lack of a good understanding of the management information systems, performance management systems and accounting systems required to manage the business efficiently
OPPORTUNITIES
The key driving forces responsible for the increase in the demand for car wash services include the following:
The advent of new cleaning technologies and cheaper methods and processes on the market
The possibility to benefit from financial and non-financial support programmes for small to medium sized entities
The growing need for automated car wash businesses
The growth potential of the motor vehicle industry
The existence of untapped markets
There is a great deal of emerging technologies through research and development
The possibility to benefit from BBEEE
The possibility to benefit from skills training
The opportunity to enhance sales via internet marketing
THREATS
The key driving forces in the external environment which are likely to have a negative influence on the operations of the business include the following:
The potential for possible claims/ penalties against the CC as a result of none compliance in terms of the Basic Conditions of Employment Act, the Labor Relations Act, the Employment Equity Act, the Occupational Health and Safety Act, Unemployment Insurance Act and the Income Tax Act. The business will ensure that it complies with the laws of the Republic by all means
The incidence of HIV/AIDS which may deprive the business of some of the productive employees
The fierce competition from other competitors in the market
Higher ESKOM tariffs may strain the business
The threat from customers given the fact that they can dictate terms and conditions to small businesses. Changes in terms of needs and preferences may also affect the operations of the business. The business will pay attention to the needs and preferences of the customers so as to consistently exceed their expectations
Choose a business area for your project topic. Focus on, and explain a specific area within the organization such as marketing, information technology, finance, etc.
Analyze your options and recommend your project topic. This will be a project in the chosen business area.
Calculate and share the ROI and payback period for the recommended project. You can click to download the ROI & Payback Period template. Preview the document [XLS, file size 23.5 KB] for this calculation.
ROI is based on an estimate. Had a change of heart on the topic last minute causing ROI to not be as accurate as it can be. Also, I am still trying to wrap my brain around this topic.
Finally, in a reflection of at least 30 words, describe the most interesting and challenging parts of preparing the project proposal, as well as any recommendations to your classmates for preparing the proposal.
The most interesting and challenging part in preparing this project proposal is the ROI. Before this class I have never heard of ROI before in my life. My recommendation to my peers is try to not have a change of heart, especially last minute, because it will make this class a lot harder than it should be.
Reference:
Sample Car Wash Business Plan AutoCare Car Wash Services SWOT Analysis. (N/A) Retrieved from http://www.business-plan.co.za/car_wash_business_plan/19_swot_analysis.html
M1D1 (2) ROI & Payback Period Template.xls
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