Timetech Company

LETTER OF TRANSMITTAL
Business plan on TimeTech co.

MGT 368
Section-6
Submitted to:
Saad Md. Maroof Hossain
Lecturer,
North South University.
Submitted by:
Sohel Mahmood
083 033 030
S.K. Shamim Faisal
082 527 030
Nasir Uddin Mulla
083 254 030
Md. Samsur Rahman
083 406 030
Md. Saiful Islam Sourav
083 133 030
Raeesul Islam
082 343 030
Date: 07/08/2012
TimeTech Co.
Page 1
LETTER OF TRANSMITTAL
August 08, 2012.

Saad Md. Maroof Hossain,
Lecturer,
School of Business
North South University
Dhaka, Bangladesh.
Dear Sir,
It is been a great pleasure for us to submit this report on the Wrist Watch making Industry.
This report has been prepared by group of 6 people as a part of MGT 368, Entrepreneurship
course. It is prepared after doing some surveys, gathering information about the different
wrist watch making industries and also by taking some exclusive interview of some
entrepreneurs. All the required information have been tried to be included in this report.
This report gave us an opportunity to apply theoretical knowledge in real world. It also gave
us a glimpse of our individual understanding & skills in various situations. We sincerely hope
that you will enjoy reading this report & will get some idea about the wrist watch making
industries of the world along with the huge market of starting this business in Bangladesh.
If you have any further enquiry concerning any additional information, we would be very
pleased to clarify that. Thank you.
Sincerely yours,
Sohel Mahmood _________
Raeesul Islam
_________
Nasir Uddin Mulla
________
Md. Samsur Rahman

S.K. Shamim Faisal
________
_________
________
TimeTech Co.
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TIMETECH Co.
Tag line: Doesnt only give you time, it gives you STATUS!
TimeTech Co.
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Table of Contents
Contents
pages
1.0 Introductory Page
06
2.0 Executive Summary
06
3.0 Industry Analysis
07
4.0 Description of Venture
20
4.1 Products
20
4.2 Size of business
26
4.3 Office equipment and
26
personnel
5.0 Production Plan
27
5.1 Manufacturing process
27
5.2 Physical Pant
29
5.3 Machineries & equipments
29
5.4 Name of suppliers of raw

materials
30
6.0 Operational Plan
31
6.1 Description of companys

operation
6.2 Flow of orders for goods and/or
services
6.3 Technology utilization
31
7.0 Marketing Plan
32
7.1 Pricing
34
7.2 Promotion
34
7.3Distribution
39
8.0 Organizational Plan
39
8.1 Senior management team
47
8.2 Salary structure
48
32
32
TimeTech Co.
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9.0 Assessment of risk
48
9.1 Evaluate weaknesses of

business
9.2New technologies
48
9.3Contingency plans
49
10.0
49
49
Financial Plan
10.1 Pro forma Income Statement
50
10.2
55
Pro forma Cash flow
10.3 Pro forma Balance sheet
60
11.0 Conclusion
61
12.0 Bibliography
62
TimeTech Co.
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1.0 Introductory page:
Name and address of Business:

TimeTech Co.
Timetech head office: House 153, Road # 11, Ground floor, Banani, Dhaka, Bangladesh.
Timetech plant: Plot no: 37, Road no: 4, Ashuliya Model Town, Savar, Dhaka.
Names and addresses of principals:
Nature of Business:
Wrist Watch Manufacturing Company.
Statement of confidentiality report:
TimeTech Co. is a partnership business. The partners of TimeTech Co. are Nasir Uddin
Mulla,Md. Samsur Rahman, Md. Saiful Islam Sourav, Raeesul Islam, S.K. Shamim Faisal,
Sohel Mahmood. All the six partners have equal control and majority rules that says 16.67%
for liability and profit. The terms and condition of the partnership is equal right over the
business. If the business earns a net profit/ net loss, each partner will get equal amount of
the profit/loss.
2.0 Executive Summary:

In this whole project we have tried to explore our own creativity to make the repot a good
one. There is no wrist watch manufacturing company in Bangladesh. TimeTech co will be
the first of this kind. The first ever wrist watch made in Bangladesh that not only provides
time but gives the person who put it in his or her hand a great satisfaction level with the
pleasure. In terms of the business, with the hard work & effort we will make the best use of
our resources. All the latest technological advancements will be applied. The Mechanical
movement and also the Quartz movements will be our main focus to develop our watch. To
convert our planning into reality, we have implemented all our knowledge, skill & have done
some realistic market research; which gave us the actual scenario and guideline so that we
can start our business, make our product and sell it to the customers. Throughout the
business plan, all the relevant and necessary research & information are discussed and
explained in details, including- the industry analysis, description of our venture, production
plan, operational plan, marketing plan, organizational plan, risk assessment and financial
TimeTech Co.
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plan(including assumptions, pro-forma income statement, cash flow projections, balance

sheet & sources-applications of funds for five years.
TimeTech co. is a wrist watch manufacturing firm, which includes two product categories
including- TimeTech Gents and TimeTech Womens. All the two product categories are
operated under the same roof and the same brand name, TIMETECH so that it creates
credibility of the entire firm and also establish the name TimeTech as a BRAND in the
market. The main view of this company is to create a Bangladeshi wrist watch which will be
categorized as a brand to all the customers and the target markets of the company and to
reach the end customers in a most pleasurable, realistic & authentic way by providing them
a feelings that It doesnt only give you time, it gives you Status and also offer the
consumer a genuinely comprehensive choice of products.
3.0 Industry Analysis:

Mission:
Our mission is to compete with the established foreign brands existing in the market with
the relevant product from the day we enter the market. As there are no brands from
Bangladesh in this industry, its a great opportunity for us to grab the market. Within two
years of our business, we want to expand our market. We also have a mission that by 2015
we will grab the market of wrist watch in Bangladesh.
Vision:
Our main vision is to serve the need of the market and to run a profitable business
maintaining a high standard of our product. We really want to contribute to the market and
be the market leader in Bangladesh.
Business Philosophy:
TimeTech Co.
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Our business philosophy is simple; to satisfy customers with our quality products and
providing them a feeling of elite in the society. And build a strong customer loyalty, so that
they can completely rely on us.
Objective:
Our objective is to create a new era of the Watch manufacturing company with various
dimensions that would make and keep us the best one forever in our country.
Goal:
We want to be the best in our business. We want to establish the name TimeTech as a
BRAND in the market, which will create an appropriate brand, image in consequence.
TimeTech Wrist Watches:

There are numbers of specification we will be dealing with while making a wrist watch.
Chronograph, Alarm, Swiss technology quartz, Date function, Guarantee, Crystal glass, Case
Diameter, Digital Compass, EL Backlight, 2 - 50 BAR Water Resistant, Stainless steel case, Eco
friendly Solar power. All of the above wont be available on a single watch. Different watch
different combination of specifications. As our product line is TimeTech Mens, and
TimeTech Womens, so it is clear that our market segmentation is the male and female who
are not child, not teen, not young, but who are adult. We will make different types and
designs of watches for both the segments. We got two segments in our product line. They
are:
TimeTech Gents
TimeTech Womens
We will make different types of wrist watches. There will be both analog watches and digital
watches for both the category. In Gents section, there will be 3 types,
a. Sport look
b. Classic look
c. Corporate look
In womens section there will be two type like,
a. Fashion look
b. Designers edition
TimeTech Co.
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PESTLE Analysis:
P E S T E L analysis is generally referred while evaluating an industry analysis in any country.
It deals with the six factors of the country, where any specific industry is operating its
business. Moreover, it highlights the effects of the six factors on the industry & its business.
The six alphabets in the word P E S T E L have six meanings according to its abbreviation.
They are:
PESTLE-
Political (security of that country)

Economy
Social (scenario)
Technology
Legal (laws)
Environment
TimeTech Co.
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P- Political:
It discusses about the political security of the country where the firm is operating its
business. The political condition, the political trend and the political stability are also the
matter of concern under this issue.
E- Economy:
The economical condition, progress and stability of the country; in one word, the entire
economical effect on the firm is discussed under this point.
S- Social:
The social structure & scenario of the country is the main matter of concern in this aspect.
T- Technology:
Technological condition, advancement and progress of the country is the key issue under
this point.
L- Legal:
The effects of the legal environment of the country on the firm are focused in this aspect.
E- Environment:
The overall environmental impact of the country is discussed under this point.
PESTLE analysis of TimeTech Co :

Political
Government approval & Tax:
TimeTech Co.
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Its a bit tougher to get the trade license of a Watch Manufacturing Industry. The law
demands previous involvement on this trade. But this is a disadvantage that we are purely
new in the market.
Funding, grants and initiatives:

For initial set up, it is difficult to get big amount bank loan. So, we have to go for an
entrepreneurial loan.
Home market pressure groups:

So far, according to the context of local market, there are no pressure political groups
against/for our business plan. Because there are no watch manufacturing company in
Bangladesh.
International pressure groups:
There are international pressure groups, means, the international brands of the same
industry who already made themselves a brand.
Economy:
Home economy situation:
So far, its good. Day by day, standard of living is being upgraded. Urban people are getting
more involved into a high standard living. And we are targeting that particular segment
along with them who are already upgraded to the standard living.
Home economy trends:
It was rising day by day, but due to some political instability, the economy slowed down
little bit in between. But these days, its on the rise.
Seasonality/weather issues:
Bangladesh is a land of occasions. And different occasions like, Eid, Fathers day, Mothers
day, Womens day, Pahela boishakh, Pohela falgun, Valentines day, New year eve these are
our peak season of the business which occupies more or less every months of a year.
TimeTech Co.
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Market and trade cycles:

Now market condition of Wrist watch is quite good. Peoples buying power in our country is
increasing day by day. People are becoming more fashion conscious & more festive. So
current market trend is very good for this business & this trend will continue.
End-user drivers:
Peoples purchasing power is increasing day to day. And our product is a must for every
person who works in the different level of the society. So, it wont be a big issue to cost you
some money to get the best in the market.
Social:
Lifestyle trends:
Bangladesh is a country where the social principles are strictly followed and the entire social
structure is driven by norms. But, the Bangladeshi people are not stubborn in terms of social
culture; rather they humbly accept things which are new and socially accepted. Besides we,
the Bangladeshis are very much nationalist. Any product which will bring quality with the
essence of culture and dependability will sure be accepted.
Demographics:
Bangladesh is ethnically homogeneous. Indeed, its name derives from the Bengali ethnolinguistic group, which comprises 98% of the population. In 2009 the population was
estimated at 156 million. Religiously, about 90% of Bangladeshis are Muslims and the
remainders are mostly Hindus.
Consumer attitudes and opinions:
Bangladeshi people are very much social. They humbly accept things which are new and
socially accepted. Day by day people in here are becoming more conscious about their
lifestyle & fashion. And our product got both the feature of fashion and need. So, its a great
market to catch.
Consumer buying patterns:
Purchasing power of Bangladeshi people is increasing day by day. Now a days these watch
has become an important part of every person who are contributing in the nations
economy, because, Time is money. So, we have a very positive sign to do business in this
area.
TimeTech Co.
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Major events and influences:

Bangladesh is a land of events. Different occasions like, Eid, Fathers day, Mothers day,
Womens day, Pahela boishakh, Pohela falgun, Valentines day, New year eve these are our
peak season of the business which occupies more or less every months of a year.
Technology:
Competing technology development:
Today in the world of business technological change is very drastic. It is both good and bad
for us. Good in a sense that in by acquiring new technologies we are able to give better
quality with enhanced durability and guarantee. But, technological change is so drastic in
this sector that it might not be possible to acquire those technologies before our
international competitors. So, there are some chances to have some problem in business &
it also increase the investment cost.
Research funding:
Research funding is not that much in our country because it requires a lot of money.
Replacement technology solutions:
In this sector of watch manufacturing different technological solutions are available. So
sometimes it increases the cost of investing.
Information and communications:
Now a days Bangladeshi people are depending more on information & technology. As a
result technology plays a very important role. So, make a fool around the customers wont
do in that way, otherwise we may loose the market share.
Consumer buying mechanisms/technology:
Technology reduces the price & increases the quality of different products. As a result, it
plays a very important role in buyers buying decision.
Legal environment:
Bangladesh had a very poor reputation in terms of ethical and legal environment, but at
present the country is overcoming the dilemma. Yet there is a long way to go, as the
standard of legal environment is still below the mark. The country is still suffering from
corruption which is posing threat to many businesses. Therefore, this standard of legal
TimeTech Co.
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environment is also a matter of concern for this new sector of manufacturing watches in
Bangladesh.
Environment:
The geographical environment of Bangladesh is quite unstable, as the country faces natural
calamities almost every year and as a result; many businesses get adversely affected. In
terms of the watch manufacturing, the adverse effect of the environment is quite less but
not nil in comparison to other firms. Therefore, the environment can be a matter of concern
for a totally new business to operate in the market.
TimeTech Co.
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Porters Five forces Analysis:
Porter's five forces is a framework for the industry analysis and business strategy
development developed by Michael E. Porter of Harvard Business School in 1979. It draws
upon Industrial Organization (IO) economics to derive five forces that determine the
competitive intensity and therefore attractiveness of a market.
These five forces are:
1. Bargaining Power of Suppliers:
In Bangladesh the market is dominated by a few large suppliers which are international
brands rather than a fragmented source of supply but competition is increasing in this
industry as a result suppliers bargaining power is decreasing day by day. Sometimes there
are some other problems among suppliers such unfair practices of supplies. But still it is a
very good market for suppliers. So, it can be said that the bargaining power of suppliers in
our industry is high.
TimeTech Co.
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2. Bargaining Power of Customers:

Bargaining power of customers was very low in previous years. But now as the demand is
increasing market is also increasing. As a result many of different companies are coming to
this industry as a result customers buying power is increasing day by day. But still it is
favorable for the companies because demand & market is growing rapidly in Bangladesh. So,
the bargaining power of customer will be moderate in our industry.
3. Threat of New Entrants:

In this area of market there is rarely a threat of new entrants. But as Bangladeshis are
follower type of people so, there can be other company which may want to start producing
watches. New entrants always increase the competition in the market. But new entrants
face some problems like: customers brand loyalty, high switching cost for customers etc.
But new entrants can recover these problems by changing some major determinants like
Price. The major problem for a company who wants to come in this industry sometimes
they dont get permission as Bangladesh has some Administrational problem.
4. Threat of Substitutes:
In this market there is always a big threat of substitutes. In Bangladesh, there are no local
watch manufacturing brands so the people here tend to go with the foreign brands that give
them a feeling of elite. So, there is a high level of threat of substitute here.
5. Competitive Rivalry between Existing Players:

This force describes the intensity of competition between existing players (companies) in an
industry. High competitive pressure results in pressure on prices, margins, and hence on
profitability for every single company in the industry. As this industry is captured by foreign
brands, competition is multinational and high. For a high growth rate of market & intense
competition among the big companies of this market this market is very competitive.
TimeTech Co.
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ABELLs Framework:
What is customers need?

A Bangladeshi Wrist Watch.
Good quality of the product along with durability.
A feeling that they can be proud of wearing the watch.
How that can be fulfilled?
Opening a new company which will manufacture wrist watch.
Providing good quality product along with maintain a good customer relationship.
Making the product a Brand that fulfills the esteem need of a customer.
How your organization can fulfill the need?
We are the first wrist manufacturing company in Bangladesh.
Our products will be highly classified and qualified, and we will maintain a high
customer relationship that will eventually grab the loyalty of customers.
We will make our product as best as possible and we will promote in such a way
maintaining the quality that the customer will get the feeling of superiority over
their friends and society that will give them the STATUS they always wanted.
TimeTech Co.
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SWOT Analysis:
This situation analysis starts with a snapshot of the current environment in which TimeTech
co. finds itself providing a brief SWOT (Strength, Weakness, Opportunities and Threat)
analysis. TimeTech co. will be in a favorable position through the whole market because of
its brand name. We can easily understand this by the SWOT analysis. Here we can make
sure that the condition we have to expand, minimize and control. The foremost
concentration is that there are some huge competitors in the market and they actually
maintains and controls the whole market, the price and supply. Most of the traders mainly
collect products from them. The following SWOT analysis captures the key strengths and
weaknesses within the company, and describes the opportunities and threats can be faced
by TimeTech co.
TimeTech Co.
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TimeTech Co.
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4.0 Description of Venture:

4.1 Products:
We will be producing two types of watches.
1. TimeTech Gents
2. TimeTech Womens
Under this two product lines there will be different types or designs of watch. It is because
every person is different from others and their choices vary from others. There will be loads
of designs to choose from in both the categories. And each type of watch will carry different
combination of features from below:
Chronograph
Alarm
Swiss technology quartz
Date function
Guarantee
Crystal glass
Ceramic Bazel
Digital Compass
EL Backlight
2 - 50 BAR Water Resistant
904L Stainless steel
Precision Hairspring
As like some of the watches will be designed with Chronograph, date function, crystal glass,
Stainless steel case. Other may be designed with Swiss technology Quartz, Crystal glass, Bar
TimeTech Co.
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water resistance, solar power. And it will go like this way. Below are some designs of
watches categorized by male and female.
TimeTech Gents:
a. Classic look
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b. Corporate look
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c. Sport look
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TimeTech Co.
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TimeTech Womens:
a. Fashion look
b. Designers edition
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4.2 Size of business:
As Timetech is targeting to capture the whole market of urban people of the country who
leads standard life, the size of business must be large enough.
We have found 2 locations for our business. One is for our office and another is for our
production.
Addresses of our business:
Timetech head office: House No: 153, Road No: 11, Ground floor, Banani., Dhaka,
Bangladesh.
Timetech plant: Plot no: 37, Road no: 4, Ashuliya Model Town, Savar, Dhaka.
Area & location:
Both the areas are in capital city so the communication will be easy. For the office we have
rent a 2,100 sq ft. flat which is suitable for our head office. Moreover, it is located in a busy
commercial place so that the office can be easily noticed by all. Our plant where we actually
will produce our product is just outside proper Dhaka city but it is very close to the city. As
for the production of Timetech watch we need a large area and for that reason we choose
this land. The locations of our business are equipped with all necessary facilities which are
important for the success and cost efficiency of the business.
4.3 Office equipment & personnel:

The head office of our business is mainly the information centre of our product. There will a
display center also with in the office area. The office equipments of the office will be
furniture, photocopy machines, computer, printer, show case, papers, stationeries,
projector, chairs, tables etc.
Personnel of the office will be staffs for doing photocopies, receptionists, computer
operator, security guard etc.
TimeTech Co.
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5.0 Production plan:

In production planning, we will discuss about the production of our product, Manufacturing
process, machineries, physical plant, machineries & equipment and supplier of raw
materials.
5.1 Manufacturing Process:

The layout of our office is given below.
Entry /
Exit
Reception
Sales and
Marketing
executives
K
I
Accounts section
C
Finance Section
D
E
Board of Directors
Office
Production
Manager
F
Display center
Production Plant
A. Customer will enter in our office, sit in the reception and they will give an order.
B. The receptionist will convey that order to the sales and marketing executive to make
sure the order can be taken.
C. Sales and marketing executive will ask the finance sector if the company is able to
cope up with the demand.
D. Finance section will ask the production manager if the order can be produced in
time.
E. Production manager will finally ask to the BODs that if the order can be taken or not
considering all the facts.
F. BODs will give feedback.
G. The production manager will then send the order to the production plant.
TimeTech Co.
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H. Production plant will complete the order and send it back to the office where the
display center is.
I. The customer will move on to the display center where he will be guided by a sales
person and he or she will choose a wrist watch.
J. Make payment to the payments or accounts section.
K. Leave the office with proper satisfaction.
The layout of the production plant or the physical plant is given below.
A
Entry
Raw
Materials
Office
Engineers
section
R & D section
G
Finished
goods
Quality
Assurance
Packaging
I
Production Processes
A. Receive the order given by the BODs office.

B. Gather all the raw materials needed to precede the order.
C. Send those raw materials to the Research and development section and Engineers
section for proper checking, designing of the given order.
D. Send those finalized raw materials along with the designs to the production process
E. Here the main production of the Wrist watches will be held. Here, the production of
the wrist watches will be done by the skilled personnel who will use different
sophisticated machines using the two movements we are planning to use, i. The
Quartz movement and ii. The mechanical movement.
F. After the production of a wrist watch it will be sent to the quality assurance
department.
G. If the watch is made not maintaining the quality it will be again sent to the R & D
section and engineers section to find the problem exactly and solve it and then again
the process will follow C, D, E & F continuously.
H. Otherwise, if the quality is maintained from the first production it will go through
Packaging department.
I. Finally, it will be stored in the finished goods warehouse for supplying the order.
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Mainly, the manufacturing process of our wrist watch will be held at the production plant.
But, initially, the major structure and layout will be designed in our office. Therefore, our
entire production process will be divided in 2 sections.
There will be 1 receptionist, 1 sales & marketing executive, 1 Finance executive, 1
production manager, 1 sales person, 1 accountants in our office to serve the company in the
beginning. The number will be increased by day and also by the development of the
company. In the production plant, there will be manager sitting in the office to make sure
everything is going well, receive the order given by the production manager and convey it to
make things done. There will be 10 workers to receive the orders from manager, arrange
the raw materials and take it to the R & D section and Engineers section. There will be 2
part time researchers and developers who will design the product and 2 part time engineers
to develop the production process. After that the workers will take the raw materials to the
production process. Here there will be around 20 skilled and highly trained watchmakers to
make the watch. The watchmakers must be highly trained because watch making is not for
everybody; it takes time, patience and commitment to make a single piece of watch. After
that the produced watches will be sent to the Quality assurance dept where there will be 2
quality checkers. They will check the quality and send it to the next section packaging. There
will be 5 workers who will work continuously to do the packaging of the product. The
packaging ingredients will be printed in the EVENTS under the observation of Md. Nurul
huda, COO, Events. The office of events is situated in 29/1/2 Toyenbee circular road,
Motijheel C/A, Dhaka. Then the finished goods will be sent to the main office for display and
sell by transportation system of TimeTech co. where there will be 2 workers.
Initially we will produce 500 pieces of the wrist watch within June 2013 as we are going to
start our business in 1st January 2013. As we will be going for mass promotion in the mid of
1st year, our sales are likely to increase by the next few months because there are lots of
events coming right after July specially Eid. Therefore we will increase the amount of
production to 1000 pieces and later on we will make the production as per the market
demand.
5.2 Physical Plant:

The physical plant of TimeTech Co. is in Ashuliya model town where we will do all our
production for the TimeTech Co. From our office at Banani we will provide information and
orders of our customers depending on which the watches will be produced.
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5.3 Machineries & equipments:

Many sophisticated machineries are needed for the production of TimeTech CO. The list of
machineries and equipment is given below in alphabetic order.
904L Steel and 316L Steel

Barrel contractor
Blower
Case opener
Ceramic material
Depthing tool
Eccentric arbor
Fly cutter
Hairspring vibrating tool
Index plates
Leather
Lubricants
Microscope
Modern Upright tool
Movement holder
Pinion cutter
Poising tool
Precision Screw drivers
Roll top bench
Rounding up tool
Staking tool
Swiss Lathe with mandrill and bearing
The form tool
Tweezers
Wheel cutting tool
Wheel stretcher
5.4 Supplier of raw materials:

We will buy our raw materials and machineries from an Indian organization. The company
information is given below.
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Company Name:
SUNRISE TOOLS (INDIA) PVT LTD.
Business Type:
Manufacturer,
Distributor/Wholesaler,
Other
Product/Service
Products & services: Jewelry Tools, Watch Tools, Hobby Tools, Carvers & Probes, Beading
Tools, Tweezers, Pliers S/S, Goldsmith Tools, Jewelers Tools, Jewelry Tools Supply, Watch
makers Tools, Diamond Tools & Supplies, Diamond Tools, Clock Tools/Parts & Supplies,
Hobby/Woodworking Tools, Spring Hooks, Electronic Tools, Gemological Tools, Horological
Tools.
Brands: SunTools, STIPL
Website: http://www.sunrisetools.com/index.html
We have selected this organization because it is more near to our country so the import cost
will be much lower.
6.0 Operational Plans:
6.1 Description of companys operation:

Operation plan of Timetech co. will be done by few steps. First of all we have to start our
manufacturing process. We must order in the way that we can get raw materials before 7-8
days before the production for the safety purpose. The raw materials will be stored on our
warehouse which is located in our production plant in Ashulia. We will make sure that we
will not be ever short of supplies while manufacturing products. After producing products
operational manager has to make some decisions. Some products should be taken to
consumer market. According to market research, Company has do decide the amount of
products they should sell. Then we have to find some key wholesalers for the distribution
process. As it is first time, we have decided to sell our products only in main two cities of the
country Dhaka and Chittagong. We have found dealers in all these cities. We will make
another warehouse in Chittagong for finished goods and we will store the products there.
We will provide customer support service in our head office located in Banani. The contact
number and address of our head office also will be given to our dealers so that customers
can easily contact us and get information.
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6.2 Flow of order of goods & services:

The regular office materials will be bought from different places of the city as per
convenience. But, the machineries and raw materials will be outsourced from SUNRISE
TOOLS (INDIA) PVT LTD. We will arrange the raw materials and other office stuffs at least 7
days prior to they are used off. The raw materials will be stored inside our warehouse of
physical plant, so that we are never short of supplies. Just after the production, the wrist
watches will be stored in the finished goods section of our production plant. Then, we will
divide them in two parts: for the display in our office and will be given to the distributors of
our product. A customer database will be developed so that a good customer relationship
can be maintained. Specific cash/order memo will be given to the order holders or the
customers to make the future transactions easy and convenient.
6.3 Technological utilization:

We will take help of the technology to the best possible extent. The total operational
activities of the firm will be highly based on technology. In our office and also in the physical
plant, we will use a MAC BOOK of APPLE for designing of the watch. We will also use other
PCs in our office as like core I-7 processor with 4-8 GB RAM for other activities. We will also
have a regular CANON PIXMA laser printer for regular office printing (official letters & etc)
and will also have a photocopy machine inside the office. The entire office will be viewed
with a close circuit camera (cctv) and the space will be centrally air-conditioned. We will also
have a power generator for instant power supply. Besides all these materialized stuffs, we
will also include 2-3 land phones, internet connection for all computers and other
technological factors as per the requirement.
7.0 Marketing Plan:

The marketing strategy is designed on the basis of personal interviews with the
businessmen and the customers of the respective business. It definitely responds our target
market. These interviews undoubtedly show us some of the facts that are required and
demanded by the customers. It helps us reach new customer levels. These interviews lead
us to some fresh new marketing goals, marketing objectives and some highlighted portion
of the target segments.
TimeTech Co.
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Marketing goal:
To meet the growing need of the market defined on the basis of
geography, demographics, and lifestyle and buyer intensions.
To evaluate the competitive environment and continue to establish a
differential advantage.
To establish an effective and profitable marketing mix of service,
place price and promotion.
Marketing Objective:
To establish a customer base of 20%-25% for TimeTech co. of the
defined target market in the first year.
To generate Tk. 500,000 sales in the first year for TimeTech co.
To increase sales by 30% annually for the first three year and a stable
10% annually after that.
Market Segmentation:
Since TimeTech co. is doing a business for the people in the society who are very much
fascinated with the fashion, lifestyle and classy people. As our product line is TimeTech
Mens, and TimeTech Womens, so it is clear that our market segmentation is the male and
female who are not child, but who are teen, young and adult. We will make different types
and designs of watches for both the segments.
So, TimeTech co. is basically targeting the city dwellers since it is launching the business in
Dhaka city for the first time. People who belong to a middle class family and upper class
family are the segmented customers for the monthly magazine. These include the people of
cultured society, who are fashion conscious and fascinated with a nice living. These include
people of this particular background of any profession.
If we consider TimeTech co. then we can say, city dwellers having any profession, any family
background can be targeted as customers. Because, people from all walk of life need to
know the exact time for their daily uses. But, specially, for events mostly upper classed
people are targeted.
TimeTech Co.
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7.1Pricing:
Price of the wrist watch is set at Tk. 10,000 to Tk. 100,000 for local market. This is a
subsidized price, because each piece of watch will costs more than Tk. 5000 to Tk. 50,000
for being produced. It includes all the cost of the company along with the payment of the
salary, office equipment cost, machinery cost, repair cost, work force labor cost, production
plant cost, maintenance cost and last but not the least production cost.
Pricing range of different watches as per category is given below:

We got two segments in our product line. They are:
TimeTech Gents
TimeTech Womens
In Gents section, the pricing will be like,
a. Sport look price starting from Tk. 10,000 to Tk. 50,000.
b. Classic look price starting from Tk. 7000 to Tk. 80,000.
c. Corporate look price starting from Tk. 10000 to Tk. 100,000.
In womens section the pricing will be like,
a. Fashion look price starting from Tk. 10,000 to Tk. 50,000.
b. Designers edition price starting from Tk. 20000 to Tk. 100,000.
Payment system:
Mode of Payment: Cash/ Cheque / Pay Order.
Cheque / Pay Order should be in the name of TimeTech co.
7.2 Promotion:
Promotion plays a very important role for running the business successfully. It is also very
important for reach the target customer and achieving the projected sales figure in the
upcoming years of the business.
TimeTech Co.
Page 34
Basically, TimeTech co. will have a massive promotional activity during the first two quarters
of the business. Then, we will have a controlled budgeted promotional activity achieving the
major portion of the targets.
For TimeTech co. the promotional activities which are going to be followed by us are given
bellow:
Fliers:
we are going to distribute the fliers in some specific zones of Dhaka City, for
example- Bashundhara City, Eastern Plaza, Rapa Plaza, New Market, A R Plaza, Pink City
Shopping mall etc with some selected private university and so on. The costing of fliers is Tk.
5 each.
Billboard:
TimeTech co. is going to be upped in the billboards by rotation in Dhanmondi, Gulshan,
Banani and Uttara area. The selected zone can be Dhanmondi 27, Dhanmondi 2, Gulshan 2
circle, Banani Bridge, Uttara sector 4, Airport road etc. Each billboard is going to cost Tk.
20,000 to 25,000 for a month. In first 6 months we are planning to cover billboards in
Gulshan-2 and Dhanmondi sectors. During last 6 months will be doing in the rest of the
areas.
TimeTech Co.
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Billboard sample:
TimeTech Co.
Page 36
Paper ads:
Paper ads will be there according to the season. We have a budget and were going to
publish our advertisement during launching which is allocated in the launching budget. The
advertisement in the back page of a news paper costs 10,000 tk.
Sample 1,
TimeTech Co.
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Sample 2,
TimeTech Co.
Page 38
Online Promotions:
The most enhancing promotional plan includes online promotion. We will be giving
advertisement by opening a group or page in the most renowned social networking
websites like Twitter and Facebook in Bangladesh. Besides, our registered members can
have subscription online. Also we will be having our very own website of TimeTech co. in
which there will be an archive of the products of TimeTech co. for the segments, recent
designs, reviews, comparisons, history, production line specification, sponsorships etc. Its a
win-win situation for both customers and sponsors.
Radio Advertisement:
Radio advertisement will also be implemented for the first two quarter. It is because Radio
stations are very much popular these days in Bangladesh. We will go for the popular radio
channels like Radio Foorti, Radio Today, Radio Amar, ABC Radio etc.
7.3 Distribution:
TimeTech wrist watches will be distributed only in Dhaka in the beginning. Timetech head
office: House 153, Road # 11, Ground floor, Banani, Dhaka, Bangladesh will be the first
distribution center of our wrist watches. We have selected this place because Banani 11 is a
place where all the high class society people come to hangout and also for official purpose.
8.0 Organizational plan:

Line of authority and responsibility for TimeTech Co.
Board of Directors:
All the six partners are assigned to play the role of board of directors. All of them are
business graduates from North South University of Bangladesh. They did their major in
finance/ Marketing and minors in different subjects.
Among the board of directors,
MD. Saiful Islam Sourav - CEO and CMO
Sohel Mahmood
- CAO and CHR
Raeesul Islam
- CFO
TimeTech Co.
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SK Shamim Faisal
- CLO
Nasir Uddin
- COO
MD. Samsur Rahman
- CIO
Background of entrepreneurs:

House #175, Block# B, Road no # 4, Bashundhara R/A, Dhaka 1210
Cell Phone: 01914 060013; E-mail: imsourav89@gmail.com
PERSONAL DETAILS
Fathers Name : Md. Abdul Kader
Mothers Name
: Surayea Kader
Date of Birth
: 20.01.1990
Blood group
: O+
Religion
: Islam
Nationality
: Bangladeshi by Birth
EDUCATION
Bachelor in Business Administration North South University
Major: Marketing and Finance( CGPA 3.30)
12th Semester (continue)
Higher Secondary Certificate
2007
Subject: Business Studies
GPA: 4.56
2008-2012
Narayanganj college, Narayanganj
Secondary School Certificate

Adarsha School, Narayanganj
2005
Subject: Business Studies
GPA: 4.60
COMPUTER SKILLS
Fluent in Operating with WINDOWS and MAC Operating System, Excellent in MSWord, MS-Excel, MS-Access, MS-Power point and utility software and Internet and
Browsing.
COMMUNICATION SKILLS
Have ability to work in a Team environment.
Leadership role in group activity.
TimeTech Co.
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Experienced in working in dynamic and pressurized situation.
INTEREST AND ACTIVITIES

Meet with different business and political leader. Learn from their experience that
how to manage unfavorable situation.
Love to travel in different beautiful places.
LINGUAL STATUS
Fluent in Bengali (Spoken and Written)
Fluent in English (Spoken and Written)
CAREER OBJECTIVES:
Short run objective:

Long run objective:
Earning good educational skill.

Establishing own unique business model
STRENGTH:
Set objective and successfully accomplished.
Visionary.
Self-motivated
Hard working.
Strong Leadership
Permanent address:
House #54
Block# B
Lane # 2
North Masdair, Narayanganj
References
Dr. Salehuddin Ahmed
Former Bangladesh Bank Governor
Mob: 016 825 699 55
Sohel Mahmood
1/8 block A Lalmaita, Dhaka, Bangladesh-1217.
Phone: 01720124528
TimeTech Co.
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E-mail: Sohelmahmood@ymail.com
Objective:
I believe my knowledge, skill and attitude will cope with the environment &
give me a scope to apply my learning, explore my creativities & ideas that will result in
contribution to the organization.
Education:
Bachelor of Business Administration (B.B.A.)
North South University.
Major in Finance.
12th semester
Fall 2008 continuing
Higher Secondary Certificate (H.S.C.)
Dhaka Commerce College
Commerce
G.P.A. 5.00
2007
Secondary School Certificate (S.S.C.)
St Joseph High School
Science
G.P.A. 5.00
2005
Extracurricular Activities:
Senior member,Nsussc
Student Of classical music, Chayanot.
Computer skills: Operating systems: Windows (98, 2000, XP, Vista, 7)
Software applications:
Microsoft Office suit (Word, Access, Excel and PowerPoint).
Adobe-Photoshop, Adobe-Illustrator.
Proficient in operating computer peripheral such as Internal parts of computer, Typewriter,
Printer, Scanner, Multi-media devices, CD or DVD-Writer.
Internet Usage- Web Browsing, Social Networking & E-mail.
Interest & Activities: Cricket, Music, Social networking
Reference:
Arif Shahriar
COO- corporate & group head of HR
Rahimafroz (Bangladesh) LTD.
14,gulshan avenue, Dhaka
Personal Details
S.K. Shamim Ahmed Faisal
TimeTech Co.
Page 42
Present and Permanent Address

71/1 A Siddique Bazar
Dhaka- 1000
Phone: +88-02-7121181 Mobile: 01715566436
faisal0013@hotmail.com
Fathers Name: Al-Hajh SheikhSalim Ahmed
Mothers Name: Shaheen Ahmed
CAREER OBJECTIVE
To reachprosperous career through hard work, commitment and to achieve real life
experience by working in yourreputedcompany.
EDUCATIOn
Bachelor of Business Administration (BBA)
North South University, Dhaka, (Year of 2008-2012)
Overall CGPA: 3.01 on a scale of 4.00 (Up to Spring 2012)
Major:
Finance, CGPA: 2.95 on a scale of 4.00 (Up to Spring 2012)
Advance Level (Alevel)
Saint Judes International School, Dhanmandi, Dhaka.(Year from July2006 to January 2008)
GPA: 4.50 on a scale of 5.00
Ordinary Level (Olevels)
Saint Judes International School, Dhanmandi, Dhaka.(Year from May 2004 to June 2006)
GPA: 4.4 on a scale of 5.00
COMPUTER SKILLS
Operating System: Windows XP and below Software Application: MS Office Suite (Word,
Excel, and Power Point), Internet Explorer.
Completed:Advance Certified in Information Technology.Year (June 2008 to November 2008)
Institution: NIIT (Bexico System LTD, Dhanmandi Centre)
LANGUAGE SKILLS
English, Bengali (Fluent in speaking, reading and writing)
ASSIGNMENTS, REPORTS & PRESENTATIONS
TimeTech Co.
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A research on Earnings Management of Confidence Cement Ltd for the year 2001 to
2010
A complete Research on Exchange rate problem in Bangladesh
A Detailed Project on Financial Market Crisis Analysis & Proposed Financial System
Development
A Project on Ratio analysis of BRAC
PERSONAL STRENGTHS
Active in accepting the responsibility
Having good interpersonal skills
Skillful of doing hard work and bringing innovative ideas
PERSONAL INFORMATION
Date of Birth: November 20, 1990
Nationality: Bangladeshi by Birth
REFERENCE 1
Al-Hajh Sheikh Salim Ahmed
Owner
S.S. Salim Screen Print
Phone: +88-02-7120966
Mobile: +8801715527223
Email:salim_screen_print@live.com
REFERENCE 2
Md. NayeemUddin (Kallu)
Manager
Titas Lozenge co.
Address: 126/A, Siddique Bazaar, Dhaka-1000
Mobile: +8801619252368
Raeesul Islam
H-21, R-5, Block-B, Banasree, Dhaka-1212.
Mb: 01756098899
Email: raees_bd@yahoo.com
TimeTech Co.
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Career Objective: To make a sound position in an environment where I can utilize my skills
and knowledge that will give me the opportunity of self development and help me achieve
personal and organizational goals.
Education:
Bachelor of Business Administration (BBA)
Present
North South University
CGPA: 3.17 up to spring 2011
Major: Finance and Accounting
3.52 (1 course left)
Minor: Economics
3.12 (1 course left)
H.S.C. Science
Adamjee Cantonment College
Dhaka Board
Exam 2007
S.S.C. Science
Uttara High School
Dhaka Board
Exam: 2005
Work Experience:
Currently working part time on online as an independent contractor in Odesk. Works are
related to SEO.
Co-curricular Activities
Member of NSUSC. The club in charge of all the sporting events in NSU.
Computer Skill:
MS Word, MS Excel, MS Access, Adobe Photoshop, EViews.
Language Skills
English, Bengali (Fluent in Speaking, reading and writing)
Personal Strengths
Possess good interpersonal, oral and writing skills.
Capable to work hard under pressure and in challenging environments
Have strong leadership capabilities and a very good team player
Personal Details:
Sex: Male
Date of Birth: May 30, 1990

TimeTech Co.
Page 45
Marital Status: unmarried

Nationality: Bangladeshi
Religion: Islam
Father: A. F. M. Jalal Uddin
Mother: Hasina Akther

Permanent Address: Cha 59/4/1, North
Badda,
Dhaka
1212
References:
Md. Ruhul Amin
Deputy General Manager,
Agrani Bank Limited.
President Bangladesh writers forum.
Md. Shamsul Alam
Assistant General Manager, BTCL.
TimeTech Co.
Page 46
MID-level management team:

The business has got three broad departments; one is the operational department where
the head is Operational Director who will look over the entire operation of TimeTech Co. In
operation department operation managers will work under the operational director and
their job is to sourcing raw materials, production etc. The other department is the
Marketing department where the mid level managers are the sales and marketing
executives and Finance department where the mid level managers are the accountants.
Sales & marketing executives will take over the responsibility of the promotions, sales of the
watch and also they will make sure on time delivery from the suppliers and to the
distributors.
8.1 Senior management team:
The CEOs responsibility will be to have an eye on the entire project, the Finance Director
will take care of the financial sector of the business; he will make over view the entire
financial performance of the company and the Operation Directors responsibility will be to
have an eye on the operations of the business and Marketing Director will take care of the
marketing sector of the company. Although the senior managements responsibility is
divided, each members of the board of directors have to be aware of all the information of
the company.
achineries & equipments

TimeTech Co.
Page 47
8.2 Salary structure:
Member of the management team
Pay scale
Operation Managers
Tk. 15,000
Sales & mkt. executive
Tk. 15,000 each
Accountants
Tk. 8,000
9.0 ASSESSMENT OF RISK:

9.1 WEAKNESS OF BUSINESS:
Though the business is very much potential, there are still some weaknesses for the
business and the entrepreneurs. They are stated below:
1)
2)
3)
4)
5)
New firm and new brand.

Has no reputation in the market so far
Lack of experience as an entrepreneur for the individuals starting the business.
High investment cost
Low return or low cash flow at the time of starting the business.
Initially, the main weakness is that the brand as well as the firm is new in the market.
Besides, the firm has no reputation also. But, any business that makes a start is new in the
market. The thing which differentiates the firm or the brand is, its performance and
quality. Therefore, if the firm operates as per the plan & if the quality of the product &
service is good, then it wont be that tough to make a good first impression about the brand
in the market.
We (The individuals starting the business) are experienced in terms of the type of the work.
But dont have the experience of being entrepreneurs and operating a business. But, as we
are business graduates and have experience in terms of the criteria of the work, therefore it
doesnt seem that we will have much problem making a start as an entrepreneur.
Budgeting, costing and cash inflow is a major concern for the business. But as per the cash
projection is concerned (which is based on real market research of the existing market), it

TimeTech Co.
Page 48
would start to bring some positive effects in the cash inflow within two years from starting
the business; which is indeed the reflection of a good venture to start with.
9.2 NEW TECHNOLOGIES:

In terms of the business, along with the hard work, effort & experience; useful resources
have been applied. All the latest technological advancements, related to the business are
planned to be applied in order to give a touch of perfection in our products. We will
include technological factors in such a way, so that it gives us a competitive advantage
over our competitors, both in terms of quality and cost.
9.3 CONTINGENCY PLAN:

Every business shall have a contingency plan before it starts its operation. If any of our
businesses fail to succeed in the market, then we will take a number of steps to make a turn
around, as we already have and will spend huge amount of time, effort & money for the
business; definitely we will not turn our back from the business. If a turnaround is not
possible, then we will plan either to merge with any other firm to run the business, or we
may think of selling the entire business. But, all of these actions will be taken based on the
exact scenario and condition of the market at that specific time.
10.0 Financial Plan:

Our financial plan is based on several assumptions. We have developed these assumptions
from related industries.

TimeTech Co.
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10.1 Pro-forma Income Statement:

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10.2 Pro-forma Cash Flow:

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10.3 Pro-forma Balance sheet:
TIMETECH Co.
Balance Sheet
Five Years Summary by Months ( 2011 - 2015 )
1st
Years
2nd
3rd
4th
5th
Assets
Current Assets :
Cash
Account Receiveable
Total Current Assets
450000
140000
590000
700000
160000
860000
950000
98000
1048000
1500000
120000
1620000
1800000
155000
1955000
Fixed Assets :
Equipment
Less: Depreciation
Total Fixed Assets
30000000
1200000
28800000
30000000
1200000
28800000
30000000
1200000
28800000
30000000
1200000
28800000
30000000
1200000
28800000
Total Assets
29390000
29660000
29848000
30420000
30755000
Longterm Liabilities
Current Liabilities
Total liabilities
14375000
8375000
22750000
14375000
8245000
22620000
14375000
5968000
20343000
14375000
4655000
19030000
14375000
6275000
20650000
Owner's Equity :
Owner's Equity
Retained earnings
Total owner's equity
4690000
1950000
6640000
4690000
2350000
7040000
4690000
4815000
9505000
4690000
6700000
11390000
4690000
5415000
10105000
29390000
29660000
29848000
30420000
30755000
Liabilities & O.E.
Total liabilities &

owner's equity

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Page 60
11.0 Conclusion:
Nothing in this world is easy to achive. To achive something special one need to give his/her
best. We, six partners, will also give our best to accomplish the goal, mission, vision of
TimeTech. Our mission is to compete with the established foreign brands existing in the
market; our main vision is to serve the need of the market and to run a profitable business
and our goal is to be the best in our business market. Our mission, vision and goal is tough
to achieve but not impossible. TimeTech is our passion and it would drive use to become
successful entrepreneurs.
Our main strategy is to attach our product with our customers emotion. Our wrist watches
are premium product and the best way to run a successful business of a premium product is
by making the product desire for a customer. Our average expected sell each year is around
16,000,000 taka and our average expected net profit each year is 2000,000 taka. Our initial
investment is 50,000,000 taka. Of this 50,000,000 taka 60% is equity and 40% is debt. We
will be the first company to start the watch industry in Bangladesh so we will get the first
mover advantage. Six of the partner will have the equal share of ownership. All the six
partners have equal control and majority rules that says 16.67% for liability and profit. The
terms and condition of the partnership is equal right over the business. If the business earns
a net profit/ net loss, each partner will get equal amount of the profit/loss. Each of us would
invest 5,001,000 taka.

TimeTech Co.
Page 61
12.0 Bibliography / Reference:
Robert D. Hisrich, Michael P. Peters (2008), Entrepreneurship, 7th edition

http://www.google.com/
http://www.rolex.com/
http://www.youtube.com/
http://us.tagheuer.com/en/luxury-watches/carrera-watch
http://www.omegawatches.com/
www.rado.com/
http://people.timezone.com/msandler/Articles/CarlosFinalParadigm/FinalParadigm.html
http://en.wikipedia.org/wiki/Watch
http://en.wikipedia.org/wiki/Quartz_clock#Mechanism
http://www.firstclasswatches.co.uk/dkny-ladies-ny4358-p-4790.html
http://www.sunrisetools.com/index.html
http://jewellerytools.trustpass.alibaba.com/
http://www.csparks.com/watchmaking/SmallTools.html
http://www.csparks.com/watchmaking/GearTools.html
http://watchmakingtools.346973.free-press-release.com/
http://forums.watchuseek.com/f6/watchmaking-tools-books-511906.html
http://www.watcheshead.com

TimeTech Co.
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LETTER OF TRANSMITTAL

Business plan on TimeTech co.

083 033 030

S.K. Shamim Faisal

082 527 030

Nasir Uddin Mulla

083 254 030

Md. Samsur Rahman

083 406 030

Md. Saiful Islam Sourav

083 133 030

082 343 030

August 08, 2012.

Md. Samsur Rahman

1.0 Introductory Page

2.0 Executive Summary

3.0 Industry Analysis

4.0 Description of Venture

4.2 Size of business

4.3 Office equipment and

5.1 Manufacturing process

5.2 Physical Pant

5.3 Machineries & equipments

5.4 Name of suppliers of raw

6.0 Operational Plan

6.1 Description of companys

7.0 Marketing Plan

8.0 Organizational Plan

8.1 Senior management team

8.2 Salary structure

9.0 Assessment of risk

9.1 Evaluate weaknesses of

10.1 Pro forma Income Statement

Pro forma Cash flow

10.3 Pro forma Balance sheet

1.0 Introductory page:

Name and address of Business:

2.0 Executive Summary:

plan(including assumptions, pro-forma income statement, cash flow projections, balance

3.0 Industry Analysis:

TimeTech Wrist Watches:

Political (security of that country)

PESTLE analysis of TimeTech Co :

Funding, grants and initiatives:

Home market pressure groups:

Market and trade cycles:

Major events and influences:

Porters Five forces Analysis:

2. Bargaining Power of Customers:

3. Threat of New Entrants:

5. Competitive Rivalry between Existing Players:

What is customers need?

4.0 Description of Venture:

4.2 Size of business:

4.3 Office equipment & personnel:

5.0 Production plan:

5.1 Manufacturing Process:

A. Receive the order given by the BODs office.

5.2 Physical Plant:

5.3 Machineries & equipments:

904L Steel and 316L Steel

5.4 Supplier of raw materials:

SUNRISE TOOLS (INDIA) PVT LTD.