Comfort Home

3533 WordsJul 23, 201315 Pages
2013 Assignment2 Case Study – Comfort Homes This study is set to discuss the case of Comfort Homes from chapter 7 of Mazzarol (2011) book which focused on planning and strategy in entrepreneurial venture. The case study analysis will address the questions and demonstrating of concepts taught in the unit to the case as a business solution or lessons. James, the owner manager of Comfort Homes, turned his business into a multi-million dollar success story. Although by time, it was not enough for him as he faced bigger managerial problems. Planning, segmentation, and leadership are some of the difficulties James are facing. Razan Mohammed Al-Mazroo G136040 7/5/2013 Assignment 2– Comfort Homes Executive Summary: The possession of formal…show more content…
He acquired it at a good price with everything was already in place: existing customers, available resources, financing records, and a cost free goodwill. The Comfort Homes business is already a proven entity so the risk factor is low; it’s often easier for James to obtain financing for Comfort Homes established operation since he can look at the business’s record to determine its financial stability. Furthermore, the business has a transportable homes product that is presently being produced, distributed, and sold. The equipment needed for production is already available and its limitations and capabilities are known for him in advance (SMBSC 2006). Those factors have facilitated the success of his venture in an extremely short period of time. However, his business still needs a plan to sustain its performance and continues growth. A business plan is a written document that describes the current state and the presupposed future of an organization (Honig & Karlsson 2004). A plan is required when seeking to secure contracts from large customers or suppliers and to assist the management of business venture. Market and customer examination should be considered before the development of any future business plan. Yet, most of small firms do not possess formal written business plans (Unni 1984), and many entrepreneurs lack of business planning skills (Posner 1985). Comfort Homes didn’t have a formal business plan
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