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English Language Consultancy Esperanto Consultants  Tutor: Michael Oyelere Module Code: MAN Esperanto Consultants 1
Transcript

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English Language Consultancy

Esperanto Consultants

 

Tutor: Michael Oyelere

Module Code: MAN

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Group Members: Christian Badenhop, Fahran Kahn, Zouhir Keli,

Olena Tybinka and Diana Tzonevska

Word Count:

Table of contents

 

1. Terms of reference

3

2. Methods and Procedure

3

3. Management Statement

4

3.1 Mission Statement

4

3.2 Goals and Objectives

4

3.2.1 Goals

5

3.2.2 Objectives

5

3.3 Target group

4. Administration

4.1 Organisation Structure

4.2 Office : Location, Size, Price

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5. Course Description

5.1 “Modern languages” courses

5.2 Business culture course

5.3 Consulting services

6. Human Resource Section

6.1 Full-time receptionist

6.2 Part-time Accountant

6.3 Part-time Human Resource Manager

6.4 Recruitment process

6.5 Staff handbook

10

7. Marketing

7.1 Seven Ps

7.1.1 Product

7.1.2 Price

7.1.3 Place

7.1.4 Promotion

7.1.5 People

7.1.6 Process

7.2 SWOT analysis

8. Financial assumptions

8.1 Costs

8.2 Rent

8.3 Utilities

8.4 Phone – Internet

8.5 Wages

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8.6 One off costs (rent deposit, BT installation, dictionairesm furnishing,

electronics)

9. Sources

10.Appendix

2. Terms of Reference

Esperanto Consultants is a newly founded language consultancy created by

seven entrepreneurs. All partners are teachers and hold an equal number of 

shares. After working as freelance consultants for ten years, they decided to build

their own consultancy in Central London. To ensure that the company worksefficiently and profitably, more staff will be needed. Therefore, the partners will

employ a part-time accountant, human resource manager and marketer and a full

time receptionist. The firm offers customized courses in the most widely spoken

and popular languages (English, Spanish, Mandarin, French and German).

Included in the report are the companies’ vision and goals, details about the

courses, an overview of its organisational structure and its marketing and

financial plans.

 This report was compiled in a team effort by Christian Badenhop, Fahran

Kahn, Zouhir Keli, Olena Tybinka and Diana Tzonevska for Michael Oyelere at the

European Business School London. The assignment is to be submitted by Friday

the 13th of November 2009.

3. Methods and Procedure

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 This report is compiled from primary as well as secondary research, which

has been gathered over the past few weeks. There has been email contact with

various language schools, for example Berlitz Language School and direct phone

contact with different estate agents operating in the centre of London. All

additional methods used are widely known strategies and information given by

Mr. Michael Oyelere.

More detailed

3. Management Statement

Developing an ideal strategy has been the key factor for many businessesto grow their revenues, gain reputation and successfully dominate larger market

share. A strategy helps to determine the objectives and goals which a company

is willing to achieve. It also involves designing a mission statement to explain the

existence of the organization. A well planned strategy can be set by carrying out

a range of research such as PESTL and SWOT analysis (Hall, D; Jones, R; Roffo,

C; 2007, 37, 38)

Esperanto Consultants is a relatively small business that has the ability to

gain reputation and become highly competitive but competitive advantages need

to be gained in order to have an edge over its rivals. The company will be

therefore based in the heart of London, preferably across the City in order to be

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more visible for the targeted consumers. Facilities such as computers, screens

and projectors must be highly sophisticated to provide professional methods of 

teaching and to ensure the efficiency of the services. Subjects and courses must

not only be based on business theories but also on practical activities to ascertain

full capacity of learning, as well as improving skills. The inclusion of flexible

programs can accommodate higher overseas clients, creating a friendlyinternational environment and enabling clients to build a vast social networking.

3. 1 Mission statement

Esperanto Consultants is highly committed to provide our clients with ahigh academic level and professional quality, treating them with respect

and courtesy to sustain a strong long-term relationship. Our aim is the

satisfaction along with the development of intellectual capacities of 

each individual client.

Esperanto Consultants, as its name already suggests, seeks to create

internationalism, providing its clients with the knowledge of the most

wide spoken languages and its respective cultures, as well as withimportant consulting services in these languages.

We want

Esperanto Consultants is dedicated to enhance flexibility through its

course and location choices in order to create the most convenient

service for its customers.

3.2 Goals and Objectives

 The aims and objectives of a business play a twin role over its performance.

In fact, clearly defined aims and objectives will significantly facilitate the process

of decision making and help employees to understand what must beaccomplished and how to proceed. Arguably, businesses tend to have different

aims in the short run than in the long run; for instance, well established firms are

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more likely to be interested in growing their brand loyalty and gaining larger

market share whereas small firms tend just to survive. Objectives, however, are

the measures or steps that need to be undertaken in a bid to attain the overall

goals. It is argued that objectives tend to be SMART. As a matter of fact they are

subject to changes. Therefore, Esperanto Consultants must be careful in adjusting

its objectives on the basis of the business cycle and customer’s behaviour. (Hall,D; Jones, R; Roffo, C; 2007, p27, 28, 30, 31)

3.2.1 Goals

 The aims of Esperanto Consultants are to deliver high professional and

academic support to people willing to learn English and other major languages,

improve their cultural knowledge of the respective business cultures or requiringconsultancy services in these languages. As the company will initially be run on a

small scale, competition is likely to be fierce in the short run, since many

established firms will exercise their competitive advantage consisting of their

larger market share. Therefore, it is substantial to put forward initial goals such

as gaining reputation and confidence by maintaining a strong customers’

satisfaction in order to build market share. Once the business is well established,

further expansionary plans can be then considered such as optimizing profit

through economies of scale, further expanding the business in other major cities,

improving the image through donations and contributing in environmentalprojects.

3.2.2 Objectives

 The objectives that need to be set initially to maintain the company in good

financial condition involve accommodating an appreciable number of clients to

increase revenue patterns, on an annual basis, by 10%. This could be achievedthrough advertising campaigns across relevant websites and newspapers,

including The Financial Times, The Telegraph and The Economist.

Another objective that needs to be taken into account is to build a good

reputation by establishing a high academic level along with tutorials, as well as

dealing carefully with customers claims, in other words: keeping the number of 

complaints as low as at 2% per year.

3.4 Target group

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  The different services our company provides are mainly targeted at

business people, especially those who work in international businesses but also in

a minor way at individuals, mainly to fill lack of customers during summer or

winter vacations. Mostly however, Esperanto Consultants aim to improve the

language and business cultural skills of employees who are to be sent abroad to

represent their company or at employees of foreign companies based in London

who need to improve their English skills. Our clients can also benefit from vital

consulting services such as editing and translating. Esperanto Consultants will

mainly suggest small group courses that are more valuable when learning a

language and that include 4-8 participants but it will adapt to the demands of its

clients

4. Administration

4.1 Organisation Structure

As in many new businesses, one of the first steps to be accomplished is to

design carefully an organisational chart. It is highly important to consider the

usefulness of setting up an appropriate organisational chart as it provides anoverview of the company structure. Indeed, an organisational chart illustrates the

hierarchy of the company and the relationship between employees within a

company. It also demonstrates the chain of command and the span of control.

Usually, this military method is primarily used in business to facilitate the

communication between employees outline clearly the duties and tasks

requested to undertake. In addition, it supports the prospect of work environment

as it creates motivation and eliminates the risks of conflicts and

misunderstandings.

After taking into account all the inner and outer aspects of your company, we

would like to suggest the following organisation chart:

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  The above diagram represents a functional organisational chart with a flat

hierarchy structure. On the basis of the size of your company, wide span of 

control would be appropriate to facilitate the communication between employees

and to fasten decision making process. Indeed, instructions will be mainly passed

on from the general director to its subordinates, thus any employees with lateral

relationship have no authority over each other.

Given that your company provides two different services including English

teaching and professional training, our sample chart indicates the duties and

responsibilities of each position within the organization thereby making tasks

easier to undergo.

4.2 Location

Being flexible is of our main concern as we know how important convenience is

for our business clients. Therefore, we decided to outsource meeting rooms from

one of United Kingdom’s biggest provider: MWB Meeting Venues. This way, we

can benefit from many advantages that give us a competitive edge:

• focus on our core service without having to rent an office or provide

equipment and catering services, which is not only time consuming but also

expensive

• offer our customers 3-5 different locations in central London from which

they could chose according to their needs (we will present them more in

detail below)

• easily adjust the location needs to the size of each group as the different

offices have several rooms with variable capacity

Our choice includes 3 main locations at Canary Wharf, Marble Arch and Covent

Garden and 2 locations at the City Tower and in the Baker Street in order to

adjust our and the MWB’s capacity. We chose training rooms which are located inbusiness districts with a wonderful view and which have variable room sizes

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capable of bearing from 4 to 25 people. We also focused on locations which are

rather small and cosy and have natural daylight. The map highlights these:

5. Course description

4.1 “Modern languages” Courses

Esperanto Consultants provide a wide range of modern languages most

used in today’s business world such as English, Spanish, Mandarin, French and

German. Each course consists of three different elements which include the

writing approach which consists in developing the ability to write formal business

reports; the reading approach involves learning how to interpret English text and

the speaking approach helps to improve communication skills. Each of the

aforesaid components will be assessed on a semester basis.

4.2 Business Culture Courses

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 The language alone does not give an insight in the business culture of a

country. Even if the European countries’ culture is quite similar it is not the case

for the Latin American and Chinese speaking world. Therefore, Esperanto

Consultants will provide special courses for those willing to learn these languages

or to improve their knowledge about their cultural uniqueness. These courses will

be taught less regularly than the language courses and there will be apromotional package for clients willing to link their Spanish and Mandarin

learning to the business culture learning.

4.3 Consulting Services

Esperanto Consultants will also provide consulting services in the languages

it teaches. These will include simple copy editing including proofreading andsubstantive editing more focused on the content of the document. Moreover, we

will offer translation services needed for communication purposes of a company

with its counterparts abroad (brochures, reports etc.)

5. Human Resource Section

As mentioned at the beginning of this report, Esperanto Consultants is a

newly founded language and consulting company which aims to employ

additional highly qualified staff in order to fill up the lack of knowledge its

founders have in fields like HR, Marketing and Finance. Part-time Finance, HR and

Marketing managers, as well as a full-time receptionist are therefore required for

the company to operate efficiently. The latter would have to do the general

administrative work and would be the main interface between the customers and

the service providers. The employment of additional full-time staff is not required

due to insufficient work load.

5.1 Full-time Receptionist: Job description

Esperanto Consultants is looking for a full-time Receptionist who is forward

thinking, responsible, managerial, multi-tasking and can bring a genuine

approach to every working day.

 Job Title Administrative Assistant

Objective  To provide a solid and consistent support for the company forall reception and general office administration tasks

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Accountable

to

 The Partners of Esperanto Consultants

Responsible

for

 The organisation of all office activities.

Location Inner London

Key result

areas

Coordinate the communication flow between all members of 

the company through smooth and efficient management of 

daily office operations. Assist the Finance, HR and Marketing

Managers

Key tasks Perform a wide variety of responsible secretarial work

Coordinate office communications. Answer telephone calls

Communicate with the other Managers

Greed all visitors, customers and members of staff 

adequately

Compile information and prepare and maintain a wide variety

of records and reports related to each individual customer

Core skills Modern office practices

IT and assigned software knowledge

 Terminology and operations of assigned office or program

 Telephone techniques and etiquette

Business letter and report writing, editing and proofreading

Correct English usage, grammar, spelling, punctuation and

vocabulary

Interpersonal skills, i.e. oral and written communication skills

Time

Horizon

Introductory period of 3 months with a minimum contract of 

1 year

Annual

Salary

£25000

5.2 Part-time Accountant: Job description

Our company is searching for a part-time Accountant who is accurate,

motivated, responsible and can handle the task of producing and analyzing the

financial information of the newly founded consultancy in order to help to set

long-term goals.

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 Job Title Associate Finance Manager

Objective Ensuring that a high quality and effective financial service is

provided on a regular basis. Also, that all records are

adequately kept

Accountable

to

 The Partners of Esperanto Consultants

Responsible

for

Finance Supervisor

Location Inner London

Key result

areas

 To keep adequately the finances of the company

 To assist with the administration of the rented rooms

 To assist with efficient document management

 To help develop the aims and objectives of the company

No job profile can cover every issue, which may rise later so

that he will be expected to carry out other financial duties

from time to time (e.g. concerning investment opportunities)

Key tasks Identify cost savings ideas, revenue growth opportunities and

strategies for productivity improvements

Core skills A minimum of a BA in Finance

At least 5 years of experience in the finance sector

Spreadsheet and database analysis

Experience with Excel and general IT skills

Good telephone and face to face skills

References required

Time

Horizon

Introductory period of 3 months with a minimum contract of 

1 year

Annual

Salary

£12000

5.3 Part-time Human Resource Manager: Job description

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Esperanto Consultants also needs to recruit a part-time HR Manager who is

motivated, responsible, and has a creative personality and who can handle the

task of leading all HR related duties, mainly the recruiting and training processes

necessary in a newly founded company. In order to design efficient training

programs he will need to work continuously together with the teachers of the

firm.

 Job Title Human Resource Manager

Objective Safety of the workforce.

Development of highly qualified personnel through training.

Development of an employee-oriented company culture

Accountable

to

 The Partners of Esperanto Consultants

Responsible

for

Organizing and leading HR practices as well as objectives

that will provide an employee-oriented environment.

High quality performance culture that emphasizes

empowerment, productivity, goal aiming, and the

recruitment and ongoing development of a superiorworkforce.

Location Inner London

Key result

areas

Helps with the implementation of all kinds of policies,

services and programs of the company. Also reports to the

partners, and assists company managers with HR issues.

Key tasks Recruiting and staffing

Organizational and space planning

Employee orientation, development, and training

Employee relations

Company employee and community communication

Employee safety, welfare, wellness and health

Core skills A minimum of a BA in HR

At least 5 years of experience in the Human Resource sector,preferably in an academic field (teaching, consulting)

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Very good telephone and face to face skills.

Spreadsheet and database analysis.

Experience with Excel and general IT skills.

References required.Time

Horizon

Introductory period of 3 months with a minimum contract of 

1 year.

Annual

Salary

£12000

5.4 Recruitment Process

In order to achieve successful recruitment, Esperanto Consultants has to

follow some simple steps. The advertisement for the three occupied vacancies

should be published in affordable job vacancies sections in newspapers such as

the London Loot  and on the Internet in order to keep the costs low. The

candidates who are found to be suitable for the position should send in their CVs,

and any prospective candidates (the aim is at least 4 or 5) will be invited for an

interview. Interviewing more candidates would be time consuming and it is likely

that the right candidate will be found within the five interviewees.

In regards to the Accountant and HR vacancy, additional test related to the

respective fields will be used to clearly determine which candidate is best suited

for the position. The interview process should have three of the partners present

so that a fair and accurate judgement could be made.

 The receptionist will need to undertake some in house training in order to

be fully aware of the range of different courses, prices, locations and also to be

able to give adequate advice to any possible customers. However, there is no

training needed for the accountant and HR manager because it is a pre requisitethat they be fully qualified (BA degrees), and also have enough work experience

to work effectively.

MARKETING

All new employees will be on a probation period for three months.

5.5 Staff Handbook 

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6.5.1 Introduction

Esperanto Consultants aims to give the best possible customer service at all

times. In order to implement this effectively, the staff handbook has been

designed to give a brief overview of its employment procedures and guidelines.

All employees should have read the handbook and be willing to follow its

procedures on a daily basis.

6.5.2 Section 1: Employment Practices

6.5.2.1 Employment

  The working hours for full-time employees are 09.00 until 17.00, Monday to

Friday. For part-time employees, the working hours will be agreed in their

individual contracts.

Every employee of the ECC is responsible for its own actions.

6.5.2.2 Attendance and lateness

Regular attendance and punctuality are essential to provide and ensure high

quality. It is compulsory that every employee is consistently on time. Tardiness

will not be accepted and will lead to disciplinary actions.

6.5.2.3 Appearance

A high standard of neatness and personal cleanness is expected. All employees

have to dress formally in order to project the right image for our company.

6.5.2.4 Private phone calls

Private phone calls during the working hours are not permitted, except in

emergencies and other extenuating circumstances. They will be allowed during

designated breaks, but should not impact the company expenses.

6.5.2.5 Annual leave

Holiday entitlement will be discussed individually with each candidate during the

interview process and will be specified individually in each employee contract.

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6.5.2.6 Jury leave

 The company must be informed by employees as soon as possible when they are

called up for jury duty in order to hire a temporary replacement for this employee

if the workload is necessary.

6.5.2.7 Sick leave

Any kind of absence has to be reported to the partners within 2 hours of normal

working time. A medical certificate must be provided.

6.5.2.8 Maternity benefits

An employee who is unable to work due to pregnancy is entitled to reasonableand pre- designated time off work with full pay. In addition, approvals for

appointments during and relating to the pregnancy are needed in order to

replace the employee with suitable cover if needed.

6.5.2.9 Meal time and facilities

For full-time employees lunch is designated for an hour and can be taken

between 12.00 and 13.00. Food can only be consumed at designated times and in

designated areas within reason.

6.5.3.0 Resignation

In case of resignation, the employee has to give the appropriate time of notice to

the company which is stated in your contract. The resignation has to be formally

written and submitted to the company.

6.5.3 Section 2; Benefits and Salaries

6.5.3.1 Salary

Wages received every month are stated in the contract and will be transferred on

the first working day every month.

6.5.3.2 Expenses

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 The company will reimburse any authorised and necessary expenses which can

be proven to directly link with company business.

6.5.3.3 Overtime

Hours worked over the normal working period are considered as overtime and will

be remunerated as stated in your contract.

6.5.3.4 Bonuses

Bonuses are given to employees who have achieved an outstanding performance.

Every employee will also receive at 13th salary for Christmas, which is basically

the Christmas bonus. 

ECCs Staff Handbook is only given to employees of this company and it

is strictly forbidden to give any of this information to a third party.

6. Marketing

 The “seven P’s” form an integral part of marketing, as they represent tools

that a company requires to achieve its goals or objectives when offering services

to its clients. They include product, price, place, promotion and in a broader

context people, process and physical evidence. It is therefore important toanalyze in what way these “seven P’s” relate to our company.

6.1.1 Product

 The product represents a key element in the marketing mix as it describes

something offered to the market for attention, acquisition, use or consumption

(Principles of Marketing, 2008). A more formal definition may be the following:

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“a product is a physical good, service, idea, person or place that is capable

of offering tangible and intangible attributes that individuals or 

organizations regarded as necessary, worthwhile or satisfying that they are

 prepared to exchange money, patronage, or some other unit of value in

order to acquire it”(Brassington, 2007).

A product is the answer to fulfill a customer’s needs and obtain

differentiation on the market from the competition. Not only does a product have

to represent a physical object, it can also represent a service offered, from which

the public derives benefits. This is the case with Esperanto Consultants, which

offers a service, i.e. language and consulting services, to the public. Even if 

mainly targeted at business people, the languages offered can appeal to a very

diverse audience, as they include the most widely spoken languages in the world

A product can be divided into four parts, which include core, tangible,

augmented and potential product. The core product is the main benefit of the

product and represents in our case top class customized language knowledge and

consultancy. As it is an intangible product, the next layer of the anatomy of a

product is the “augmented product” which represents an additional service to

make the original offer more attractive. In our case, the augmented product

consists of our business culture courses that help to gain a better understanding

of the Spanish and Mandarin speaking world. Finally, the “potential product” layer

looks upon the various possibilities for the development of the service in the

future. This could be a future goal formulated by Esperanto Consultants, such asintroducing a wider range of languages, by offering for instance Italian, Russian

and Portuguese.

6.1.2 Price

Price represents another element of the marketing mix and may simply

describe the sum of all values that consumers exchange for the benefits of 

having or using a product or service (Principles of Marketing, 2008). The price has

to reflect the value of the service offered from a customer’s perspective as well

as a reflection of profit generated for the company offering the service. Also the

price must be competitive in order for the company to survive in a competitive

environment. Therefore, we propose the following prices for our courses:

 

6.1.3 Place

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 The place is the location where the product or service can be purchased,

often also referred to as distribution channel. The distribution channels can be

web-based ones, where the customer can specify its demand and purchase the

service having received the adequate information. The physical locality of 

offering language services may be at various companies that send their

employees to learn a new language at the ECC or even at fairs held in schools.

Other than that the locality of buying language is at the actual location of the

institute.

6.1.4 Promotion

Promotion brings the product or service closer to the customer and acts as

a method of communication to persuading the customer to buy the service. It has

to give a clear message as to why the consumer should choose specifically this

product/ service instead of all others offered by the competition.

Esperanto Consultants should promote its service through specialized

business reviews such as The Financial Times or The Economist and post its

website on the Google search engine in order to save money. Moreover, its seven

partners should create word-of-mouth about their new business as they have

already many potential clients from their past experience they could bring intothe new company. Direct marketing could be therefore a powerful tool to promote

Esperanto Consultants by using previous contacts and extend the customer base

by writing to international companies’ human resource departments. Finally, our

company should make an effort to establish relationships with some journalists in

order to get valuable publicity and be present at several international business

fairs in London.

6.1.5 People

 This element represents all people that have an influence on the customer

and includes employees, knowledge workers but also customers as they also

influence the value of the service by giving valuable feedback. In fact, they will

be asked to fill out a questionnaire at the end of their course so that our company

can regularly evaluate its performance.

6.1.6 Process

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 The process is a procedure by which an exchange of value is achieved. The

process for the Esperanto Consultants is its special way of teaching emphasizing

learning in small groups and many practical activities that will give many

opportunities to speak in class. Its consulting services will be performed by the

same teachers and will be perfectly adapted to the customer’s needs.

6.1.7 Physical Evidence

 The physical evidence is something, which allows the customer to measure

the value of the received service. It is the certificate attendees receive after

taking a course. This certificate, together with an individual evaluation sheet, will

help clients to see the improvements of each employee and determine the overall

quality of the service.

6.2 SWOT analysis

SWOT analysis is a method used to evaluate the strengths, weaknesses,

opportunities and treats involved in a business or project.

A firm’s strengths are its resources that can be used to create a

competitive advantage. Esperanto Consultants has many advantages, which

allow it to be successfully competitive in the particular business field. The staff of 

the company has a long working experience, which makes it highly appreciated

among other management and language trainers in the UK. The partners had

their own successful free lance business, which automatically makes the lectures

and advices, they give to the customers, relevant and desirable.

Our company offers elegant and thumping training venues. They are based

in central London and are suitable for small or big groups depending on the needs

of our clients. The premises in which the company offers its services are

exclusively designed to satisfy even the most particular requirements that our

clients have. In the training rooms, we offer a delightful office atmosphere withcontemporary furniture and brand new computing and presentation technologies,

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ensuring the best quality of teaching materials and resources that the modern

business pupil can find.

 The management and the language courses offered, are designed to fit the

busy schedule our clients. The courses we offer have different time dimension,

making them perfect for the particular needs for all potential clients. Our sessions

are done one to one person and in groups, up to 20 people, which allows us to

look deeply into every trainee’s single concern. At the same time in our big group

(seminars) sessions, we teach our trainees how to work in team and how to be

co-operative. Offering these two types of sessions, we make sure that we cover

all the areas that a businessperson needs to be prepared for. Having this in mind,

we are delighted to say that we are the only company on the market that offers

this service.

However, as our company offers high quality services, the prices for our

courses are not cheap. Targeting mainly business people, we aim to give ourclients only the best possible learning outcomes and standards. This inevitably

leads to approximately 25 % higher prices in comparison to average prices

offered by basic training companies based in central London. In our company,

this factor is the only actual weakness, which considers revising in the future

years of development.

Being a young company, we see ourselves as a potentially growing and

developing factor in the market. The opportunities we consider are many and

are likely to be taken in the following years. The company has the potential to

grow and reach popularity as it is regarded as one of the most qualitative andpromising training companies recently opened in London. As we gain popularity

and more clients, we will be able to attract more highly educated and

experienced trainers, who can also contribute in giving our special customers the

best that they can possibly look for. Expansion in more training venues and

afterwards making an overseas network of offices is an opportunity, which our

staff aims to achieve.

On the other hand, although we are highly motivated and very ambitious in

maintaining the quality level as high as possible there are potential treats for our

business as well. We are highly dependent on our customers, because we only

rely on their good word after they have done a course with us. We do not invest

in advertising. Other management and language training companies have huge

advertising campaigns, which can attract new customers. Nevertheless, we

believe that the best advertising is a recommendation. That is why we might

gather popularity slower than expected and our expansion plans might be slightly

delayed. However, when our clients recommend us to other business-orientated

people our company’s name will not go outside of the business circle. In other

words, an advertising campaign may throw our name to the broad public and

bring us out of the high -profiled business circle in which we aim to stay.

 Therefore, we choose to have a slower popularity development, but to make sure

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that we are entirely dedicated to business people or companies who have high

demands and expectations and can afford to pay for them.

10. Financial Data

10.1 Costs

 The main total costs include therefore only the cost of outsourcing the location

facilities and the cost of labour. MWB charges the same amount for each location:

£39 for a full day delegate and £25 for a half day delegate. The services includeroom hire, refreshments and equipment for 6 delegates or more:

Full day delegate package

• Room hire from 08:30 - 18:00

•  Three servings of tea, coffee and

biscuits

• Buffet lunch

• Still and sparkling water

• Flipchart, pens, pads and pencils

• Whiteboard

Half-day delegate package

• Room hire from 08:30 - 13:00 or

13.30 - 18.00

•  Tea, coffee and biscuits

• Either breakfast on arrival, buffet

lunch or afternoon tea depending

on time of booking

• Still and sparkling water

• Flipchart, pens, pads and pencils

• Whiteboard

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 The costs of the two price categories will therefore be the following:

  Therefore, the rent cost

will become a variable

cost for our consultancy

which will adapt itconstantly to its demand.

 The first months will give

us an idea of how much

we would have to spend

on the facility cost which

is difficult to estimate.

Furthermore, during the first year of the existence of our business, we will hirea part-time accountant, marketer and human resource manager which we will

require to work from home in order to save costs that would have been

incurred by renting offices for them. Only their wages will be included in the

overall costs:

• Find office for the managers and customers Baker Street,

excellent transport connections, central London, size (2 rooms:

reception & customer talking, bureaus of the managers), requireprice!!!???...

N° of  

delegates

Half day

delegate

Full day

delegate

1 £25 £39

4 £100 £156

6 £150 £234

8 £200 £312

10 £250 £390

15 £375 £585

20 £500 £780

25 £625 £975

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• My part: Costs and Expenses!!!

• PowerPoint


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