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Question:

Discuss about the Operational plans and strategies which will be used to prepare a Business plan in New Zealand.
 
 

Answer:

Introduction

This report is accompanied by several operational plans and strategies which will be used to prepare a business plan. In the starting of this report, key strategies will be used to establish a construction business in New Zealand. It will include management of internal and external activities such as establishment of process working, hiring and management of employees and other investment activities. After that strategies will be formulated to set up a business plan. After that arrangement of financial sources and deployment of the same will be done. In the end operational and ethical exercise will be implemented. Fletcher construction private limited is the construction business which is developed with a view to provide construction services in New Zealand with quality assurance irrespective of price bar.

Organization overview

This is the leading infrastructure, engineering and building contractors and developing projects in New Zealand and other countries. This company has been set up with a view to provide unique buildings and houses which are accompanied by innovative use of high technologies features.

Vision

Fletcher construction private limited has vision to construct customized building and houses for clients which are accompanied by high technologies features. It has vision to increase its overall turnover to NZ$ 10,231 million within next 10 years.

Mission

It has mission to grab at least 25% market share within five years and establish core competency in its value chain activities for the constructions of unique level of building and houses.

Products and services

The main unique selling point in which company will develop core competency is related to constructions of homes and offices for clients which are accompanied by high technologies features and deigned.

Industry sector

There are several rivals in the construction business such as progressive enterprises, Ryman healthcare and Spark New Zealand who are coming up in the New Zealand market with unique construction plans. However, Fletcher construction private limited is coming with newly developed constructions of homes and offices for clients which are accompanied by high technologies features and deigned at very cheapest price (Fabling & Sanderson, 2016).

 

Investigation of economic and business environment which could affect the Fletcher construction private limited

With the increasing ramification of economic growth and market changing factors of New Zealand business, it is evaluated that there are several companies which are increasing overall revenue and growth of business. In 2016 Air New Zealand is having total turnover of NZ $ 5,231 million which is 12% increase from the last year data shown in the annual report. On the other hand, Spark New Zealand is having total turnover of NZ $ 3531 million which is 14% more as compared to last year data. Another company is Progressive enterprises which has shown total turnover of NZ $ 6100 million which is 18% more as compared to last year data shown in the annual report. Therefore, after analyzing the annual report of these companies, it could be inferred that construction industry has shown increase in overall turnover and demand of clients in effective manner. However, GDP of New Zealand is 39,426.62 USD ‎(2016) which has increased by 20% since last 10 years (Kelsey, 2015). This shows that employment rate, population of country, interest rate and purchasing power of resident of New Zealand has also increased. This shows the positive inclination and high potential for the growth of construction business in New Zealand market.

Major trends

After evaluating the financial statement of various companies who are working in construction business, it is evaluated that all these companies such as progressive enterprises, Ryman healthcare and Spark New Zealand are providing average growth of 15% in their annual turnover. It reflects that if Fletcher construction private limited come up with its customized building and houses for clients which are accompanied by high technologies features then it will surely increase the overall turnover and profit of company after one years. Company has to run its business at the Break-even point for one year. After that, company could increase the overall financial performance (Hansen, 2013).  The major trend of this construction business in upward. All the companies in this construction business has observed at least 15 % average growth in their business value chain activities and overall turnover. It has shown that New Zealand industry has increased its overall production of goods and services throughout the time. In addition to this, purchasing power parity of clients in New Zealand has also increased by 14% as compared to last five years data. It is evaluated that if Fletcher construction private limited would start up its construction business with the core competency in customized building and houses for clients which are accompanied by high technologies features then it will surely result to increased brand image and turnover of company (Huo, et al. 2014).

Competitive advantage

It is the intent of company which distinct company from those of others in market. it is evaluated that if company follow proper level strategies and strategies of customized building and houses for clients which are accompanied by high technologies features then it will attract high number of customers in market (Polovin, et al. 2016). In addition to this, these level of strategies plans will showcase that company is providing unique and innovative method for the construction of building and houses for personal and commercial purpose. However, team work of five employees will increase the overall effectiveness of work and planned business system. Therefore, the main competitive advantage for Fletcher construction private limited would be to use high technologies features in its construction services of houses and office buildings. This will help company to grab more clients in market and attract customers and easy and determined approach (Goulding, et al. 2015). However, this type of strategies could be copied by other rivals in the market but once company could align the best possible interest of two strategies such as cheapest cost of house building and construction f office place and using unique highly developed technologies features in house and office designs then it will not only increase the brand image of company but also help company to create core competency in this conduction business (Kelsey, 2015).

 

Niche Size

Fletcher construction private limited is planned to provide its construction business at small level. It provides that if company with its five members come up with newly developed customized building and houses for clients which are accompanied by high technologies features then it will help him to grab high market share in New Zealand. There are several clients who are stuck in problems to decide the cost efficient and quality oriented construction of houses and office building. With the help of service and constructions houses and commercial building provided at very cheapest price, clients who are unable to avail the services provided by the big companies such as progressive enterprises, Ryman healthcare and Spark New Zealand could easily grab customized services offered at the reasonable price (Bryman, & Bell, 2015).

Customers for Fletcher construction private limited

This company has planned to focus its developed houses and commercial offices in construction business. It is evaluated that customized building and houses for clients which are accompanied by high technologies features are the main offered products for the organizations. It is considered that if company could developed customized building and houses for clients which are accompanied by high technologies features then it will result to grasping more customers who wants to have innovative and creative building and houses (Kibert, 2016). In addition to this, construction of houses in New Zealand will be very useful and will increase the overall turnover of Fletcher construction private limited if it could customized its construction services in effective manner. However, client in New Zealand are more inclined towards having homes and offices which are accompanied with high technologies and featured by innovative designs. Company should focus on people who fall between the age group of 30- 50 years age. These people are most potential clients who wants to invest their investment in construction of homes and offices in New Zealand. Company could make changes in its existing policies and working operations as per the design and instructions suggested by these potential clients in New Zealand market share. Fletcher construction private limited needs to conduct a special seminars and construction council plan in which all the potential clients could participate to showcase their design and dream houses so that all the architect of Fletcher construction private limited could note down their wants and needs to customized their services plans and format accordingly. Nonetheless, some other start- up business which have been operated their business since last three years are also potential clients for Fletcher construction private limited. These start-up may also like to take construction services from the Fletcher construction private limited for construction of their official areas and apartment (Myers, 2016).

Competitors of Fletcher construction private limited in the New Zealand market

Construction business and real estate business has been showing high amount growth and capital value creation for existing and new comers’ business organizations such as progressive enterprises, Ryman healthcare and Spark New Zealand who are coming up in the New Zealand market with unique construction plans. These rivals have strong brand image in construction business in New Zealand. However, with the increasing ramification of economic changes and client’s inclination towards the services offered by these companies, they have made increment in average revenue by 15% since last two years (D. Banke, Mashruwala & Tripathy, 2014). However, If Fletcher construction private limited wants to compete with these business organizations in construction business then company has to follow two specific business strategic plans such as product differentiation and cost leadership. Product differentiation strategy of company focus on providing construction of customized houses and offices in New Zealand market. Another strategic plan of Fletcher construction private limited is related to provide affordable and less costly construction for clients in New Zealand market. It reflects that if Fletcher construction private limited could offer its best possible goods and services in construction business to its clients at very cheap cost then it could result to effective competition with other rivals in New Zealand market (Das & Ghosh, 2015). If Fletcher construction private limited could come up with newly developed and high tech technologies in construction of houses and offices in New Zealand then it could keep company in market distinguish from those of others. However, progressive enterprises, Ryman healthcare and Spark New Zealand are the main organizations in construction business who are coming up with strong strategic plans and creative constructions services in New Zealand for the betterment of clients satisfaction (Potts & Ankrah, 2014). However, if Fletcher construction private limited in starting should focus on creating brand image and winning clients trust in this construction business of New Zealand. Fletcher construction private limited needs to develop core competency in constructions of homes and offices for clients which are accompanied by high technologies features and deigned. These will help company to tap the construction business with new products and services and will attract more clients in determined approach. There are several rivals in construction business in New Zealand who are coming up with unique strategic plans and creative business policies to provide best possible construction services (Stanley & Thurnell, 2014).

Competitors name

Creative business and strategic planning

Progressive enterprises

Using of ERP system in the business chain activities with a view to provide prompt changes in the construction services as per the wants and needs to clients in New Zealand market.

Ryman healthcare

Services provided by Best architect and experienced employees who design and instruct labor to construct building and official places in determined approach.

Spark New Zealand

This company believes in providing services as per the best possible manner at very cheapest price in New Zealand construction market.

Carnival New Zealand

 

Use of High Tech design functions and customized houses and official places for clients (Hansen, 2013).

After evaluating all the functions and creative design functioning of these companies, it could be evaluated that if Fletcher construction private limited wants to grow in construction business then it firstly has to determine the existing offering of products and services by other rivals. However, Fletcher construction private limited could follow two main strategies to win over the market such as cost leadership and product differentiation strategy.  These two strategies are the key pillar of the market and its success. Cheaply construction services in New Zealand market will open door for Fletcher construction private limited to operate its business and high quality of construction services accompanied by new high technologies will help Fletcher construction private limited to establish effective brand image and grow in New Zealand construction business (Kelsey, 2015).

 

Summary

This report has reflected the key understanding on how Fletcher construction private limited could enter into construction business market in New Zealand in spite of various strategic challenges and business problems. In this report, it is learned that if Fletcher construction private limited wants to make effective business functioning in New Zealand market then it has focus on following two strategies to win over the market such as cost leadership and product differentiation strategy. These strategies will allow company to provide its constructions services at very cheap price and building and official places constructed by company will be accompanied by high technologies and advanced strategic designs.  In addition to this, company should focus on potential clients who falls between age group of 30 to 50 years. These clients are more inclined towards availing construction services to build their own homes and customized office area (Hardin & McCool, 2015).

Reflection

This study has taught me how we can start up a new construction business in New Zealand market without facing possible problems. However, creative and innovative business methods are the key part of success of new start up business. Therefore, in order to give tough competition to rivals in construction business in New Zealand, businessmen has to think effectively and strategically. Now a days, clients are more inclined towards changes and creative business services. If they are not given services as per their wants and need then they will go for other companies. Customizations of services are the best business polices to win over the market and provide best possible services in market. However, in starting all the startup has face several problems such as finance arrangement, loss of business functioning, non-effective services and less inclination of clients towards the organizations. These all problems could be mitigated only when, entrepreneur follow a systematic strategic plan and implement proper research on the possible start up business market. It is evaluated that analyzing the market will help organizations to develop an effective business plan to win over the market (Ramsgaard & Warren, 2015).

 

Conclusion

After evaluating all the facts and study of construction business, it could be evaluated that cost leadership and product differentiation are the key strategic pillar to enter into new business market. Now in the end, it could be inferred that If Fletcher construction private limited wants to make effective business functioning in New Zealand market then it has focus on developing creative business plan and use of highly developed technologies in its construction services

 

References

Bryman, A., & Bell, E. (2015). Business research methods. Oxford University Press, USA.

Banker, R., Mashruwala, R., & Tripathy, A. (2014). Does a differentiation strategy lead to more sustainable financial performance than a cost leadership strategy?. Management Decision, 52(5), 872-896.

Das, U., & Ghosh, A. L. (2015). Cost Leadership Strategies in Indian Scenario: A Study of the Steel Industry. The MA Journal, 50(2), 52-56.

Fabling, R., & Sanderson, L. (2016). A Rough Guide to New Zealand's Longitudinal Business Database.

Goulding, J. S., Pour Rahimian, F., Arif, M., & Sharp, M. D. (2015). New offsite production and business models in construction: priorities for the future research agenda. Architectural Engineering and Design Management, 11(3), 163-184.

Hansen, A. H. (2013). Fiscal policy & business cycles. Routledge.

Hardin, B., & McCool, D. (2015). BIM and construction management: proven tools, methods, and workflows. John Wiley & Sons

Huo, B., Qi, Y., Wang, Z., & Zhao, X. (2014). The impact of supply chain integration on firm performance: The moderating role of competitive strategy. Supply Chain Management: An International Journal, 19(4), 369-384.

Kelsey, J. (2015). Reclaiming the future: New Zealand and the global economy. Bridget Williams Books.

Kelsey, J. (2015). The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books.

Kibert, C. J. (2016). Sustainable construction: green building design and delivery. John Wiley & Sons.

Myers, D. (2016). Construction economics: A new approach. Taylor & Francis.

Polovin, Z. A., Gonzalez, M. A. P., & de la Rosa Esparza, G. (2016). U.S. Patent No. D772,042. Washington, DC: U.S. Patent and Trademark Office.

Potts, K., & Ankrah, N. (2014). Construction cost management: learning from case studies. Routledge.

Ramsgaard, M. B., & Warren, L. (2015). Learning Entrepreneurial Leadership among Nascent Food Entrepreneurs in Denmark and New Zealand. In ANZAM Conference 2015.

Stanley, R., & Thurnell, D. (2014). The benefits of, and barriers to, implementation of 5D BIM for quantity surveying in New Zealand.

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