Smart Mirror

Knowledge
Management &
innovation
Introduction

Business model: business to business (future
extension to go to business to customer)
Vision : Become major smart mirror producer in
Lithuania. 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

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 and
consumers

Tools to better manage our
marketing:

Social media: Facebook and Twitter
TV advertisements
Magazines
Expos
Street Marketing campaigns

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

Competitors
We are creating new market in Lithuania
Local company that produce cheaper product
with same quality.

NO COMPETITORS IN LITHUANIA!
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

Strategic Planning
Time:
- 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



Strategic planning

Advertising expenditures:
- advertising spots
- social networks
- promotion stands
- websites


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 of
solar energy batteries in our mirror.

Social Impact

New way to communicate Share 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 with
their friends.
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

Risk Management
Optimistic: Our product will be the highest quality,
most innovative and making shopping much more
attractive, therefore attracting businesses to buy our
product. We will minimize the cost of production and
get the highest revenue.
Realistic:
At first it will be difficult to prove to clothing stores that
our product will bring them proffit and atract more
people. But through time with growing interest in new
technologies our product will become known and we
will sell enough to be able to expand our business
more with the increasing demand in coming years. In
first years our production cost will be higher due to
implementation or new technology and finding best
partners from which we will buy parts of smart mirror.
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 using
only smart mirror they will be only able to get
the recommendation for the size of clothes that
would be most suitable for them.

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 new
company they will feel the company growing
- Rewards for best workers (salary bonuses)
- Congratulate people
- Stock options
- Very good working environment
- Promotion/advancement

Human Resources
Training:
- Depending on everybodys background and
experiences one week of training before starting to
work for the company
- Employees Evaluation twice a year: the best get a
reward and the worst get a training (if twice nominated
as the worst worker fired!)
Salary:
Will depend on everybodys background and experience
and working efficiency. 13
th
months. Little higher salary
than they offer in same industry.
Communication:
English style communication, everybody speak with
everybody as equal. Brainstorming and conferences
every weeks.

Thank you very much for
your attention