IA03

Personal Business Plan

Company Rachel provides an educated, hardworking employee dedicated to making a difference in
her workplace and CSR so that companies may become more sustainable and make a positive
difference in the world.

Business Environment

I will be competing in the industry for sustainability and social impact managers. However, as a manager position will not likely be Rachel’s first position, the initial competition will be among other recent graduates seeking entry-level positions within corporations who seek to develop sustainably, or at least improve their sustainability. This is necessary for it to align with Rachel’s values and for her to be successful in the workplace. The global sustainable employment industry is growing as companies seek to be more energy-independent, appeal to customers who wish to reduce their carbon footprints, improve efficiency, and have a more positive social impact all along the supply chain. Many countries in Europe and Asia are already investing more heavily in renewable energy and companies who focus on the U.N.’s Sustainable Development Goals (SDGs). This industry overall most closely aligns with “Professional and Business Services” which, according to the Bureau of Labor Statistics’ Employment By Major Industry Sector, is growing at a rate of 1-1.4% per year. Economic forces such as a country’s currency value, GDP growth, and unemployment rates will affect the ability of this industry to grow in different countries. For example, it will be very difficult to market Rachel in a country with high inflation and high unemployment as many other people will be looking for jobs as well. If the growth rate is low then industry is likely not expanding at a profitable rate for the future. Additionally, one must be familiar with the policies within countries that may help or hinder the industry, such as Europe’s investment in renewables.

Entrepreneurship and Strategy

As Company Rachel is a startup and not an existing business, it will be up to me to establish
a customer base, find a niche in the market, and build my reputation. I run the risk of running
out of cash to fund the company’s ventures, such as gas to get Rachel to interviews. The largest
issue with “promoting” and “selling” Rachel will be her lack of experience. Most likely, she will be sold
to a less profitable position first, such as an unpaid internship, so that she may gain the experience
to later have a more profitable job in a management position. It will be essential to build her a strong
network and background before it will be possible to market her to ideal employers. As an
entrepreneur, I am identifying an opportunity in the (employment) market that my product, Rachel,
can fulfill. I am accepting the risks that this pose because I believe that with proper strategy she can
become profitable and make the world a better place through her employment. Risks include liability
for anything she may do wrong at work and the possibility that she may be fired and my investments
of time and money may go unreturned.

Management

As the General Manager, I would plan by setting goals such as having Rachel employed by
a certain date and fulfill this by applying her for positions that close by that time. According to
Jack Zenger and Joseph Folkman in their article for Harvard Business Review, one should set
“stretch goals” that will tackle more tasks than one might normally accomplish in a day. This
gets people in the habit of getting more done. I would organize by allocating personal and
financial resources appropriately. For example, in order to be employed in time, she will need
to use her time and money to apply to the proper positions and drive to interviews, as well as
invest in training programs or classes. I would direct my company by motivating Rachel and
myself to keep working through employer rejection or getting passed over for a promotion by
reminding her of how much investment and energy had already been put in, and how valuable
she has become. Additionally, Kevin Granville says in his article for The New York Times,
“How to Manage Your Career”, that it is important for us to have other hobbies and creative
interests in order to fight burnout. Finally, I would control Company Rachel by completing
“feedback analysis” as described by Peter F. Drucker in his article “Managing Oneself” from
the Harvard Business Review. He says that after one makes a key decision or takes a notable
action, one should write down what he or she expects this will result in in 9 to 12 months.
Drucker also recommends assigning unto others and unto oneself, tasks that fit the way each
individual learns and performs best, depending if they are readers, listeners, speakers/talkers,
or one of the many other kinds of learners he describes.This will ideally facilitate great performance, productivity, and optimal communication and teamwork between employees, employers, and customers.

Marketing

I will use digital marketing such as facebook and LinkedIn to build her network and connect her
to potential business and employment opportunities. I will list all of her trained skills such as excel and public speaking, provide references, and utilize keywords in her job descriptions such as “leadership” to catch the attention of potential employers (customers). Additionally, customer-relationship management will be essential. Rachel must be in good cc standing with her employers (my customers) in order to receive promotions, salary increases, and good references throughout her career, increasing her value.
Ideally, even as she is employed by others, her employers will be satisfied with her performance and seek more products (employees) from my company in the future. To continue to make Rachel into a more
attractive product, I will place her in positions that stretch her so that after each employment she has gained some knowledge and training. Her network will also make her a desirable connection to have. This will
require a marketing mix that is heavy in product and promotion. She will be a valuable employee to
have and be able to find employers through promotions via social media and her network. She will move to
a place that has greater demand for her job positions and accept salaries (price) for what she is
worth to the company which, thanks to the valuable product she is, should be relatively profitable.

Accounting and Finance

I will manage my investments by monitoring the progress that Rachel makes in increasing
the value of her employment through her raises and promotions. Additionally, some of her salary
will be invested in stocks or other ventures within the business. Investments may also include
education and training. I will keep a record of these investments and the approximate return on each.
To develop a financial plan I will calculate the amount of funds that the company needs for a specified
period and detail a strategy for getting those funds. This will require estimating sales (hirings of Rachel), acquiring funds (student loans), and measuring assets.

Assets	2018	Liabilities	2018
Current assets:		Current Liabilities:
Cash	$12,000	Note payable	$4,000
Short-term investments	5,000	Accounts payable	500
Accounts receivable	2,000	Accrued wages	1,500
Prepaid rent	3,000	Taxes payable	5,000
Total Current Assets	22,000	Total current liabilities	11,000
Property, plant and equipment:		Long-term debt	50,000
Land and Building	60,000	Owner’s Equity & Total owner’s equity	24,000
Machinery and Equipment	5,000	Total Liabilities and owner’s equity	$85,000
Less accumulated depreciation	- 5,000
Property & Equipment, net	60,000
Long-Term Investments	2,500
Other assets	500
Total assets	$85,000

Information Systems and Operations

I will use management support systems such as a management information system,

decision support system, and executive information system. The first will help me to make

routine decisions by generating report such as a customer-analysis report, a profitability report, and

a labor-analysis report. The second will help me make non-routine decisions by analyzing things such

as the profitability of having Rachel quit and move to a different job. The third will help me, as the CEO,

to analyze trends in the overall company and make decisions based on efficiency of many products

and branches of the company, should it grow to sell more Rachels over time.

References

Employment by major industry sector. (2017, October 24). Retrieved November 1, 2018, from
https://www.bls.gov/emp/tables/employment-by-major-industry-sector.htm

Granville, K. (n.d.). How to Manage Your Career. Retrieved November 1, 2018, from
https://www.nytimes.com/guides/business/manage-your-career?smid=fb-nytimes&smtyp=pay&smvar
=guides

Drucker, P. F. (2016, October 17). Managing Oneself. Retrieved November 1, 2018, from
https://hbr.org/2005/01/managing-oneself

Folkman, J. Z. (2018, July 08). 7 Traits of Super-Productive People. Retrieved November 1, 2018,
from https://hbr.org/2018/04/7-traits-of-super-productive-people?utm_medium=email&utm_source=
newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&deliveryName=DM4392

Karen Collins. (2017). Exploring Business. Boston, MA: FlatWorld