OUGD502: Study Task 1 - Research Distribution

OUGD502 Study Task 1 - Taking Care of Business 

Research Distribution

With a concept and business type identified we then turned our attention to the background considerations that would have to be carefully considered in order to create a successful resolution and ultimately an informed and accurate business plan. The background considerations stated Two/three/four heads are better than one as long as they communicate. You have the luxury of four pairs of hands. How will you use them effectively? You will need to consider the following:

•What skills and services do you have to offer?

•Who is your target market?

•Who is your competition and how will you compete?

•What are your costs, charges and financial considerations?

•How will you structure your studio?

•Who will be responsible for what?

•How will you promote your services? To who? Using what media?

Looking into these we then assigned specific considerations to each member of the team to ensure the most efficient and productive use of time when collating this information. As the financial considerations was an exceptionally large area to cover I volunteered to research this element of the business plan as this covered the workload of two of the smaller research considerations. Having an A in business GCSE I had a small previous experience of business costings and felt I would be able to accurately propose a set of financial considerations for the company.