Chapter 7 “Planning” January 19, 2009
Posted by taechler in Uncategorized.trackback
Yawavi Ameko is the recipient that we chose to give our loan too. A typical day for Yawavi is not one of business meetings, suits, and Blackberry uplinks. She is from a third world country in West Africa called Toga. The profession she has chosen is a hair dresser. Though I don’t think this is the best profession to chose in the situation she is in. I do respect the fact that she is trying to better the life of her and her children. Regardless of the job she has chosen she will still face a broad spectrum of decisions and concepts that all business owners will face, both small and big. Planning is a huge part of management, whether you are the CEO of a fortune 500 company or a hair dresser in Toga. Without planning you do not have a strategy as to how you are going to handle such issues as budgeting, customers, marketing, and more. Planning is much more than strategy though, it is setting goals, dealing with common and uncommon problems, and having a contigency plan. Basically Yawavi had to have a plan set in place to know that she even wanted to start a business as a hair dresser. She understood that there was a need for her service and that she would be able to profit from it. Since most businesses are ran out of homes in Toga, her location was probably pre-determined, eliminating the choice of location. Next she probably started on a rough draft of a budget, factoring in the charge for labor and inventory to help to determine the loan she would request. From here on out, after being granted the loan, she would have to put the planning into effect. I wish her good luck and hope that she has created an effective business strategy through smart planning.
I would have to agree on what you stated about how planning is very important and she needs consider customers, marketing and so on. As it goes for doing a different business, I think that if she is happy doing hair, then that is her choice. You could have also added the different types of plans she could do as well. For an example there are directional, single-use, standing, specific, short term, long term and so on. These are all important of how she will construct her business. Finding the right plan is a step into becoming a successful business.
I think her business cann’t grow up a lot. However she will try many strategic management but she know about group of consumer this business. Except, in the future she will exteand the business about hair dresser like as school salon.
I agree with you that in a country like Toga, profession like hair dresser is not a very money making profession. But it seems like she has planned everything and knows what she is doing so I wish her all the best and hope her business does well.
I do agree with you that in order for her to get her business on the right track she do needs to plan. I also agree that without a plan you don’t have a stragety for certain things like customers and marketing. What type of plan does she needs though need to be answered. She also needs to set goals in order for her to set these plans she needs goals to know what she is planning for.
I also had Ms.Yawavi Ameko . I agree that more precise planning will improve profits for her. Mapping out a true business plan if not already done should be. In my post I suggested that she go out and study her competition and there flaws. I think if that was done with your suggestion of planning she will benefit in profits.
Actually having a hair dressing business in africa is not a bad way to go. There are often ceremonies in which the women have to have their hair a certain way so there will often be a demand for her service. However as you said regardless of what type of business is in place planning is important. You just have to make sure that the plan you have is good for the business your in.