knowledge presentation final (2)

8/12/2019 Knowledge Presentation Final (2)

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Smart MirrorKnowledgeManagement &

innovation


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Introduction

Business model: business to business (future

extension to go to business to customer)

Vision : Become major smart mirror producer inLithuania. We manage to be the leading

company in the market offering an original and

innovative product.

Mission: Change the way of shopping

Slogan: A smart way to see yourself


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Description

Goals - get even more competitive in the market, either

through savings in production costs or distribution, or by

commercial success.

strategic objectives - The Company will implement the

following strategies to achieve its goals:

1-. Provide a high level of personalized service

2-. Develop key industry relationships with clothing

manufacturers

3-. Create a compelling value proposition for both sponsors andconsumers


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Tools to better manage our

marketing:Social media: Facebook and Twitter

TV advertisements

Magazines

Expos

Street Marketing campaigns


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Target Market

Luxury Shops (clothes, shoe shops, Jewelry

stores, optics, make-up...)

People who want do their shopping fast (no line

in fitting room)

People for their personal use: Smart mirror at

home/online


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Competitors

We are creating new market in Lithuania

Local company that produce cheaper product

with same quality.

NO COMPETITORS IN LITHUANIA!


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Strategic Planning

Search for materials

Get the best price for materials

Search for clients ( H&M, Du Broliai)

Present product, negotiations and taking deposit

Buying materials and producing products

Sell

Making advertisement, searching for new clients,

spreading business


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Strategic PlanningTime:- Recruitment consultant about a month evaluation. Consensus

entire management team

- Brainstorming. 1 week to study how to develop it.

- Hiring 3 months, psychology personality tests performed

facilities for recruitment and management budget for.

Expenses:

- Business assets (include buildings, furniture)

- Employees (employee salaries, commissions and bonuses)

- Insurance (Policies to protect against liability exposure, as

well as insurance to pay for damage to business property)

Debts:

- Loans


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Strategic planning

Advertising expenditures:

- advertising spots

- social networks

- promotion stands

- websites


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Eco Friendly Company

Our mirror screen will be made of recycled glass.

In the near future we will co-operate with solar

energy company and try to implement idea ofsolar energy batteries in our mirror.


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Social Impact

New way to communicateShare clothes

Training and cultural initiatives.

People will be able to spend less time shopping

and spend more time whit their families.

People will be able to share photos instantly withtheir friends.


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Swot Analisys

THREATS

Dependence on especific supliers

may affect operations.

Market demand

STRENGTHS

New product for retail and fashion

customers

Focused R&D driving innovation

and consolating in market

position. Employee morale high

OPPORTUNITIES

Posible collaborations with other

companies Learn new skills

Technology

WEAKNESS

Lack experience

Weak image Product costly

Initial costs


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Risk Management

Optimistic: Our product will be the highest quality,most innovative and making shopping much moreattractive, therefore attracting businesses to buy ourproduct. We will minimize the cost of production and

get the highest revenue.Realistic:

At first it will be difficult to prove to clothing stores thatour product will bring them proffit and atract morepeople. But through time with growing interest in newtechnologies our product will become known and wewill sell enough to be able to expand our businessmore with the increasing demand in coming years. Infirst years our production cost will be higher due to

implementation or new technology and finding bestpartners from which we will buy parts of smart mirror.


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Risk Management

Cultural:

People may not like to shop using smart mirror

because they will still want to see how the

clothes will fit on them in real life, and by usingonly smart mirror they will be only able to get

the recommendation for the size of clothes that

would be most suitable for them.


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Human Resources

Manager:- Charismatic- Dynamic- Smart as the mirror- Experience as a manager in IT industry and has good

experiences and recommendations.

Motivation:- Work for our company is already a motivation: a newcompany they will feel the company growing

- Rewards for best workers (salary bonuses)- Congratulate people- Stock options- Very good working environment- Promotion/advancement


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Human Resources

Training:- Depending on everybodys background andexperiences one week of training before starting towork for the company- Employees Evaluation twice a year: the best get a

reward and the worst get a training (if twice nominatedas the worst worker fired!)

Salary:Will depend on everybodys background and experience

and working efficiency. 13thmonths. Little higher salarythan they offer in same industry.

Communication:English style communication, everybody speak with

everybody as equal. Brainstorming and conferencesever weeks.


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Thank you very much for

your attention

knowledge presentation final (2)

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