Business Plan for an Imaginary Software Company Business Plan

Pages: 16 (5030 words)  ·  Bibliography Sources: 16  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

¶ … business plan for an imaginary software company, Techno soft which aims to enter South Asian market as a part of its international business expansion strategy. The paper is divided into different sections. The first section presents an ample introduction to the company; its location, products, mission, vision, and strategy, the source of competitive advantage, and the nature of business opportunity which it wishes to avail in the new market. The second section presents environmental and industry analysis of the firm using different tools; like PEST Analysis, Five Forces of Competition, CAGE Model, and future outlook. The third section is dedicated for the marketing plan of the company which describes the company's target market and marketing mix strategies.

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The fourth section presents an organizational plan which includes organizational team composition, organizational chart, McKinsey 7-S Assessment for the company, and concise description of what is the company's business level strategy and how it fits with its corporate level strategy. The next section explains the operational plan for Techno soft by highlighting its supply chain, main partners and suppliers, strategies to optimize operational effectiveness, and the operational plan from a value chain perspective. The Section 6 presents a complete financial plan for the company which includes projected financial statement, calculations for costs of goods sold and financial break-even point, the key financial ratios, and the importance of financial information to measure the company's success in the market.

TOPIC: Business Plan on Business Plan for an Imaginary Software Company, Assignment

The seventh section of this business plan is dedicated to discuss the critical risk analysis and to develop a projected milestones schedule for this business expansion project. The final section explains the strategic leadership and entrepreneurship for the company by highlighting the sphere of influence of the leader, his own bias, anticipated hurdles, leadership styles, etc.

Section 1: Company Overview

i. Introduction: Technosoft Corporation:

Technosoft Corporation is an American multinational software company specialized in designing and developing operating systems for personal computers, laptops, smart notebooks, etc. Technosoft also offers a wide range of technology-related products and services; including office suits, desktop and server programs, internet search engines, enterprise resource planning software, technical solutions and maintenance, etc. The company has strong business presence in the American, Asian, European, and Pacific region. As a part of its international expansion strategy, Technosoft aims to enter the South Asian market with its operating system as the introductory offer in the potential markets like China, Hong Kong, and India.

ii. The Mission, Vision, and Strategy:

The mission of Technosoft is to provide the most innovative and technologically advanced operating systems that can fulfill the official and personal requirements of its target consumers in the most efficient and cost-effective way. Its vision is to become the most favorite operating system developer in the world by creating and fulfilling the demand of highly advanced software solution through its operating system. The strategy behind developing an advanced system and entering into all potential markets of the world is to establish a strong brand image in the mind of consumers so that Technosoft becomes their first choice whenever they think of an operating system or any type of software solutions (Lancaster & Withey, 2007). The company's strategy is to achieve the market leadership position in its operating system category by beating the competition through research and innovation.

iii. The Sources of Competitive Advantage:

The biggest source of competitive advantage for the company is its marvelous growth over the years and the delivery of highly advanced operating systems and software products to a large number of customers in four regions of the world. Moreover, the company's designing and development capabilities, financial strength, and extensive research and innovative procedures are also the major of competitive advantage.

iv. Nature of the Business Opportunity:

Technosoft has successful developed its strong brand image in the American, Asian, European, and pacific regions. Now it aims to expand its operations in the Asian region by targeting the most potential countries in the South Asian region. The biggest business opportunity for Technosoft in these countries is the large size of target market and the level of competition which is less severe as compared to other three regions (Kurtz, MacKenzie, & Snow, 2010).

Section 2: Environment Analysis and Industry Analysis

2.1: Analysis of the General Business Environment using PEST Analysis

The general business environment of Technosoft consists of political and legal, social and demographical, economic, and technological forces. These forces can be analyzed using PEST analysis.

i. Political, Legal, and Governmental Forces:

Technosoft has business operations in different regions all over the world. During the implementation of its business expansion strategy into South Asian market, it will face different legal structures, regulations, governmental behaviors, and political situations in different countries. In order to operate in a legal way, it will have to adhere to these laws, regulations, and policies which the governments of South Asian countries have imposed on software businesses (Kurtz & Boone, 2011). Technosoft will have to keep its business strategies completely aligned with the governmental frameworks in order to get sound governance and regulatory support.

ii. Social and Demographical Forces:

Social and demographical forces impact the consumer choices or buying decisions in an industry (Kurtz, MacKenzie, & Snow, 2010). Technosoft will have to operate in a highly concentrated market where consumers have wide range of alternative choices in every product category. They evaluate their required products on different purchase decision parameters; like quality, reliability, features, price, manufacturer and the country of origin, etc. Therefore, Technosoft will have to keep in mind all these parameters while designing, developing, and promoting its products to different target consumers in the South Asian market.

iii. Economic Forces:

Economic environment is one of the leading forces in the South Asian software industry due to the involvement of high financial risks, heavy R&D costs, and highly intense competition. The industry participants compete with their rivals on the basis of price and quality of their products. Therefore, if the economic conditions in some country will turn favorable for the software businesses, Technosoft will observe a positive impact on its operations and performance. On the other hand, if the economy of some country will get conquered by high inflation, poor industrial growth and diminishing market attractiveness, the company will have to move forward in a more careful way and operate under poor cost-controls and low profit margins (Lamb, Hair, & McDaniel, 2012).

iv. Technological Forces:

Technological forces directly impact the competitiveness and sustainability of software companies. Due to the rapid advancements in the field of Information Technology and Computer Sciences all over the world, the business environment in the South Asian software industry has become more challenging and complex for its participants. In order to operate in the most competitive and profitable way, Technosoft will have to expend heavily on Research and Development activities which can lead it towards innovation and operational efficiency.

2.2: Analysis of the Industry using the Five Forces Model of Competition

The Five Forces Model of Competition presented by Michael Porter can be used to analyze the competitive environment in the South Asian software industry. These forces include rivalry among existing competitors, threat from new entrants in the industry, threat from the substitute products, the bargaining power of customers, and the bargaining power of suppliers (Kotler & Armstrong, 2008).

i. Rivalry among the existing Competitors:

Technosoft aims to expand its business operations in South Asian market. Therefore, it will face a stiff competition from the existing top rivals which have strong presence in the software industry of South Asian countries; especially in India and China which are technologically advanced and developed economies. The top software giants in this market are Microsoft, Dell, Hewlett-Packard, IBM, Apple, Adobe Systems, Google, Sony, Acer, etc. These corporations are the top leaders in the global software industry and possess resources, development capabilities, and core competencies through which they can easily compete with Technosoft. In its operation system category, Technosoft will face a direct competition from Microsoft, Apple, and Google.

ii. Threat from New Entrants:

The threat from new entrants in the software industry is comparatively low due to the high barriers to entry for small scale firms. The major barriers include innovative procedures, high initial investment, heavy R&D expenditures, brand recognition, etc. If Technosoft enters the South Asian market, it will itself act as a new entrant, but will be able to establish its presence due to its already developed brand image in the international market (McDonald, 2011).

iii. Threat from the Substitute Products:

Technosoft will not have to face high threats from substitute products. Reason being, its operating system will directly compete with the Windows, Linux, Mac OS, etc. which have successfully dominated the market and left no room for substitute software. Technosoft, being an equally competitive corporation to these top rivals will easily penetrate in the new market and compete with all the software development corporations that can offer substitute products.

iv. The Bargaining Power of Customers:

Customers enjoy strong bargaining power when they have to choose technology related products. It is because there is a… [END OF PREVIEW] . . . READ MORE

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