Feminere

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described the human resource management of our organization. FEMINERE is also engaged in corporate social activities (CSR), the motivational factors that will inspire employees, and most importantly future plans of our business.

1.0 Introduction

Nowadays women do not want to spend their time and money in the salon just to straighten or curl their hair and just to color a strand of hair. So, I, Syeda Samora Bakht with my two partners, Hridita Afsana and Fuad Zibran, has come up with a business idea of opening a hair straightener business where women will get an innovative hair styler which will fit in their busy schedule. Therefore, our company, FEMINERE, an innovative hair styler company, introduces unique, fashionable hair styling equipment, Juneva hair styler, which will solve this problem within a minute. Juneva 3 in 1 hair styler literally brings professional hair artistry within reach. With our innovation people can color their hair without spoiling their beautiful hand and get a colorful, sleek and shiny straightened or curly hair.

2.0 Mission statement

Our mission is to provide our customers with the most innovative, trendy and fashionable hair styling equipment in a very affordable price and excellent quality. We want to provide our customers the convenience of using hair styler in any place, at any time they want to by making the product lightweight and easy to carry anywhere and become the best hair styler manufacturing company.

2.1 Vision Statement

Our vision is to provide our customers with best quality, easy to use, innovative hair styler equipment and reach the highest peak of the market five years from now.

3.0 Porter’s Five Forces Model

In order to create a sustainable competitive advantage for FEMINERE an analysis has been done by using Michael Porter’s five forces model which is described below.

3.1 Threats of new entrants

The chances of new entrants into the market are low because there is large start up cost and low economies of scale. On the other hand, the legalities, i.e. the patent and license cost makes it harder for new entrants to enter the market. Thus, it reduces the possibility of new entrants into the market.

3.2 Threats of substitutes

There are many existing hair styler manufacturing company in the market. Although they do not provide the unique feature which we do but the simple straightener and curler is a substitute for our product for those customers who does not need the 2 in 1 and 3 in 1 feature. Therefore, customer can switch from our product to those products reducing their cost. Hence, threat of substitutes is intense.

3.3 Bargaining power of buyers

Bargaining power of buyers is low. Our organization offers high quality unique product which no other hair straightener company produces. So, customers will not be able to bargain much about the products price and quality because if they would want to switch from our product to another substitute than they will have to buy 3 different products with different price which will eventually increase their cost. However, if any customer does not need 3 in 1 function then they can easily switch from our product to the existing low priced hair straightener or curler. Thus, bargaining power of buyers is high.

3.4 Bargaining power of Supplier

Bargaining power of supplier is high. Our product is manufactured by using high quality raw materials that are not easily available in order to make a hair straigtener with a feature of hair color and there is less number of suppliers present in the market to provide us with necessary materials and colors to make our 3 in1 hair styler. Therefore it is not easy for us to switch suppliers.

3.5 Current rivalry

Our organization is the only company that manufactures this unique 3 in 1featured hair straightener in the market but there is competition currently with those manufacturers who produces just hair straightener, curler and hair color product separately in low price. Therefore, those existing hair straightener manufacturing companies are the current rivalry for our organization.

4.0 SWOT Analysis

The combined internal analysis (strengths and weaknesses) and external analysis (opportunities and threats) of FEMINERE has been done below.

4.1 Strengths

• Sufficient financial resources: Capital will be collected through partnership to support the organization. Profit or loss will be distributed according to proportion of the partnership.

• Training of staff: Staffs will be trained in interactive techniques for improving quality. Trained staffs will be able to support the organization very efficiently.

• A straightener with unique feature: No other company is making a hair starightener with this unique features in one, i.e., straight or curl hair with an option to color as well or get all in one product.

4.2 Weaknesses

• Wider presence of competitors: There are many hair straightener companies already present in the market with high quality product selling in low price.

• Training cost of employee: To make employees more efficient and effective, they need to be provided with training which increases our cost.

4.3 Opportunities

• Economies of scale

Once the industry becomes known in the market with our unique product economies of scale can be achieved with bulk production in future.

• Research and Development sector

Through research and development (R&D) we can bring more innovative hair care products alongside with hair styler products.

4.4 Threats

• Availability of close substitutes

The existence of rival companies becomes a threat for our organization because they might come up with the copied version of our product in the market offering it in low price.

5.0 Types of Corporate Strategies

There are three types of corporate strategies: Growth Strategy, Stability and Renewal.

 We, the FEMINERE, are a new business. So, FEMINERE will follow growth strategy. In order to grow we will expand the market we serve

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