Tag: Business consultancy

Business Consultants Associates (BCA)

Business Consultants Associates
Business Consultants Associates

Business Consultants Associates

BMGT 380: Introduction to Business Law

The BMGT 380 course centers on the story of a company, Business Consulting Associates (BCA), a business consulting and research company based in Maryland that advises and conducts research for potential owners considering new business ventures. You and your classmates will be active participants in the story acting as employees of BCA assigned to complete consulting-related and/or research assignments and projects for BCA clients throughout the course.

Your assignments for BCA will concentrate on four categories of business law principles that present significant risks and liabilities for start-up businesses. These legal principles are (1) business structures, sometimes called business forms, (2) tort law, including negligence, premises liability, and product liability, (3) contract law, including Uniform Commercial Code sales and lease contracts and e-contracts, and (4) agency law.

Starting a new business requires extensive preparation, market research, and examination of the legal environment of business. Identifying the nature and scope of legal risks and liabilities that affect business practices and decisions is essential before organizing a business. Exploring ways to prevent, minimize and resolve risks and liabilities is also important in forming a new business. The primary focus for the 380 course and completing assignments for clients of BCA will center on the question: How can a business owner identify and minimize legal risks and liabilities associated with

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Background: Business Consultants Associates (BCA)

After graduating with a B.S. in Management, you have been working for BCA for almost two years as an assistant consultant for Pat Braden and Gale Roth, senior consultants who jointly direct the construction services consulting department for BCA. Pat and Gale have assigned you to assist them in advising their new client, a start-up residential
painting company named Painted Images.

Background: Painted Images (PI)
Jo, Maddy, and Taylor are friends, business acquaintances, and residents of Maryland. Jo has been the project manager for twelve years for a construction company owned by a general contractor and developer. Maddy and Taylor have owned and operated a small, successful home rehab and “flipping” business for ten years.

After considering several business ventures, the group decided that a residential painting business would be a good fit for their professional experiences, skills and interests and agreed to pursue the possibility of launching a Maryland-based painting business named Painted Images. The three hired a market analyst to research market trends and demands for the painting services industry and confirm whether Painted Images would likely be a viable business in their community.
The market analysis showed there is an increased demand for homes services businesses in the region. Consequently, the group decided to move forward with their idea to establish PI.

Business Consultants Associates

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The group is committed to operating and marketing PI as a green business. Most paint contains high VOC (volatile organic compounds) that pollute the air, particularly indoor air. According to the Environmental Protection Agency, VOCs are considered one of the top five hazards to human health, arising primarily from interior paints and finishes. New environmental regulations and manufacturing techniques have led to the development of low-VOC and zero-VOC paints that are durable, cost-effective and less harmful to human and environmental health.

Jo, Maddy, and Taylor plan to purchase all paint and other supplies from Naturals, Inc. (Naturals), a mid-sized manufacturer of zero-VOC paint and chemical free paint supplies. The potential owners of PI are familiar with Naturals as each has purchased from Nautrals for their respective current businesses. PI plans to resell certain Naturals products to PI clients directly for painting jobs, and
via internet sales.

PI will be headquartered in a business space in a local shopping center. The PI headquarters will include private business offices, a reception area, and conference meeting and planning space to which potential and existing customers will be invited to discuss proposals for painting jobs, paint products, and to complete contracts for painting jobs. The business space will be open to the public to collect information and inquire about PI services, examine paint displays, and view photos and exhibits from ongoing and past painting jobs.

Business Consultants Associates

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The potential PI owners recently attended a start up business seminar sponsored by the local chapter of the Small Business Administration. Following the seminar, the owners held several meetings to define the nature and scope of the work to be done to prepare a clear plan for the startup business. They realized this process requires time, thoughtful analysis, and clear guidelines as the owners have somewhat different priorities, interests and expectations.

They also recognized that they need for professional business consultants, such as BCA, to guide their start-up for PI. Consequently, the three have hired BCA to advise and guide them through the start-up process for PI.
Painted Images Owners

Jo: Jo wants an initial 30%-40% interest in PI, but wants to limit future capital commitment until the business is operating profitably. Jo wants the option to acquire others’ interests if they die or leave the business for any reason. Also, Jo wants to take out money from the business, in the form of salary, benefits, expenses, or dividends, as appropriate, as soon as PI has a healthy net profit margin.

Business Consultants Associates

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Jo is most concerned about liability and knows the other owners are trustworthy and ethical, but wants to limit personal liability in the business to no more than capital contribution. If possible, Jo wants Key Man Insurance for the owners so all will have protection if one owner can no longer contribute to business for any reason. Jo prefers a strong managerial position to make decisions for day-to-day operations. Jo is willing to be involved in day-to-day business operations and wants to play a key role, along with the other owners, in establishing the structure, and the business environment and culture for PI.

Maddy: Maddy wants at least a 25% interest, and prefers to minimize additional investments to protect personal cash assets needed for other business investments. Maddy’s main goal is to realize a return on investment as quickly as possible. Maddy wants to minimize personal liability, especially in the event of bankruptcy or death of any of
the other owners. Maddy wants to participate in long-term business decisions, but does not want to be involved in day-to-day business activities. Maddy prefers to hire a general manager to run the business, although is willing to consider having others manage the business.

Taylor: Taylor is enthusiastic about the new business plans and trusts the others and respects their business expertise. Taylor is willing to commit to an investment of 51% interest in PI, but is agreeable to a lesser interest. With a maximum interest of 51%, Taylor would want complete control over business operations. Even with a lesser investment, Taylor wants a strong managerial position and prefers owners with a minority interest to be silent in day-to-day management of PI. Taylor wants to minimize personal liability.

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The Four Business Elements: Consultancy Report

The Four Business Elements
The Four Business Elements

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The Four Business Elements: A Consultancy Report

Instruction

   Elbanna (2009) asserts that the use of the four elements concerning the business management to different corporate is considered one of the most important aspect. Nonetheless, proper and successful implementation of a business financial program requires the full application of the four famous four functions concerning the management of the business (Elbanna, 2009).

The major purpose of creating incorporate the best business ideas is to ensure that the best business ideas have been applied in parliamentary procedure to create a solid institution and production background, which is likewise run by a highly productive team (Ajmal et al., 2009). Therefore, this paper will delve on determining how the appropriate implementation of the four business elements can be employed to manage the Outdoor Adventure called Outdoor Paintball Park.

How the Four Business Elements can be used to improve the outdoor venture

    First, it is worth noting that the Outdoor Adventure Paintball Park is one of the most contemporary businesses that offer Outdoor Adventure. The appropriate adoption and the application of the business management tool is considered important, especially considering that the out adventure has continued experiencing some of the most important management inefficiencies (Rind Christensen & Klyver, 2006).

Therefore, the use of the P-L-O-C platform will help pinpoint some of the issues that have ended up affecting the company’s effective performance and how the move can improve the rate of the goal attainment (Elbanna, 2009). As a result, several issues will be covered during the recommendation stage, which includes important facts such as the;

  1. The need for devising a proper and mind blowing business statement concerning the business
  2. Creating a better way that will improve the management of scarce organizational resources such as the enactment of a  proper and a functional personnel
  3. Laying more emphasis on the need for recruiting employees through training in order to make them fit and ready to work within the new company
  4. Creation  of a proper mechanism that can be used to conduct tom improve the standard, as well as other forms of the measurable outcomes
  5. Devising a good mechanism that can pave way for the effective achievement of the organizational achievements where the members should be encouraged to use the P-L-O-C principles and practices

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The Incorporation of the Proper Planning Procedure

    First, it is imperative noting the use of a proper planning procedure is considered one of the most important aspects when it comes to devising the proper ways that can improve the business performance (Rind Christensen & Klyver, 2006). As the financial business consultant, one should understand that he/she is supposed to make sure the businesses can only be implemented through the appropriate setting of the business objectives (Elbanna, 2009).

Moreover, the consultant should also demonstrate, clearly, how the business owner(s) should come up with a proper management the set goals in a more clear and effective manner (Ajmal et al., 2009). Some of the business activities and aspects that can be improved through the appropriate use of planning procedure include;

    The setting up of a good mission and vision statement- here, it will be appropriate devising an appropriate mission and vision statement for the new company since it is clear it lacks one. Thus, some of the recommended mission and vision statement are listed below;

“The achievement of happiness among the teenagers, working teams, and the young adults, through offering the best outdoor experience, is our ultimate and final goal as the Outdoor Paintball Park Community.”

“Strive to become the leading and number one company in providing ‘refreshing’ experience of the teenagers and the young adults while becoming a leading source of livelihood to the young adults”

    The use of a clear and concise mission and vision statement can help to realign the general process of achieving the overall goals of the Outdoor Adventure. As such, it should be carried out in a more comprehensive and careful manner. In fact, this is the only way the organization will be able to meet its long-run objectives (Cobbold et al., 2004).

The Implementation of the Organizing Procedure

    The organization should go ahead with the definition of the culture. It is worth remembering that the birth of the business came as a coincidence when the three family members joined hands (Ajmal et al., 2009). Therefore, in order to achieve a good way of improving the cultures, the organization should integrate it with the themes of the mission and vision statements (Parks, 2000).

     The organizational structure should also be created where there should be a clear distinction of each and everyone’s role. The proper implementation of such procedures will help eliminate issues such as the development of conflict during the business development stage (Parks, 2000). Each member should be given the overall authority of achieving certain strategic objectives in order to avoid a collision.

The Incorporation of the Leadership Skills

    It is an imperative noting Outdoor Adventure lacks a proper mechanism of defining its leadership hierarchy. Thus, the move has the potential of affecting not only the lowly ranked employees but also the target and potential customers (Cobbold et al., 2004). Therefore, in order to improve the leadership skills, the company should emphasize on the need to providing constant training and undertaking of seminars for the employees who are in the leadership positions.

The move will help expand their mind on how they can handle a diverse workplace and customers (Parks, 2000). As a result, the move will help meet their satisfaction. The other employees should also be empowered, through training them regularly, in order to promote their independent thinking to promote the organization (Cobbold et al., 2004).

The use Control Procedure

    The Outdoor Adventure will need to devise a proper way that will be used to define standards, as well as measure the achievement of the target results. The move will make the achievement of the appropriate objectives are highly achievable. For instance, it can make of instruments such as the balanced scorecard (Chavan, 2009). According to Chavan (2009), the use of the use an instrument will help to translate the laid strategies, mission, and vision into a reality.

References

Ajmal, M. M., Nordström, F., & Helo, P. (2009). Assessing the effectiveness of business consulting in operations development projects. Int J Productivity & Perf Mgmt, 58(6), 523-541. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/17410400910977073

Chavan, M. (2009). The balanced scorecard: a new challenge. Journal of Mgmt Development, 28(5), 393-406. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/02621710910955930

Cobbold, I., Lawrie, G., & Issa, K. (2004). Designing a strategic management system using the third‐generation balanced scorecard. Int J Productivity & Perf Mgmt, 53(7), 624-633. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/175542509109653459

Elbanna, S. (2009). Determinants of strategic planning effectiveness: extension of earlier work. Journal of Strategy and Mgt, 2(2), 175-187. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/17554250910965326

Parks, M. (2000). Consulting. Journal of Business Strategy, 21(1), 10-11. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/eb040052

Rind Christensen, P., & Klyver, K. (2006). Management consultancy in small firms: how does interaction work? Jrnl of Small Bus Ente Dev, 13(3), 299-313. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/14626000610680217

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