PRISTINE FREELANCER SAMPLE

STRATEGIC MANAGEMENT PROJECT
INSPIRED CREATIONS COMPANY 2022

INTRODUCTION AND SUMMARY

Our company is called Inspired Creations and it’s an ongoing company which provides Event
planning services and will be introducing the new video booth trend in Cyprus , the 360 video
booth which is mainly the most competent ,unique and rare service within the location at the
current moment that we are offering to our customers. ICC is a company that seeks to capture
moments through use of advanced technology, we also go an extra mile to plan and facilitate
events like engagement proposal, theme parties, weddings, dinner dates, bridal and baby showers
according to the clientele s needs and our own expertise. Our company is structured with
different unique departments, event consultancy, the media and technology department, creative
and innovative department and finance and they are all run under the manager and CEO who is
actively involved in the day to day running of the company. The company is still growing so it is
in a small location, it has few services but highly active on social media platforms and has an
online presence because that is mainly where our targeted market is , so our facilities are not
catered for a huge audience as work is done remotely and mostly on field. We are part of a
fragmented industry were their so many small and medium sized companies that are in
competition for relative shares of the total market.

MISSION STATEMENT

“TO AWAKEN POSSIBILITIES FROM SEEMINGLY ORDINARY ACTIVITIES AND
EXPERIENCES TO CREATE A NEW OUTLOOK A ROOM OF OPPORTUNITIES WHERE
CREATIVITY HAS NO LIMITS.”

VISION

Inspired Creations seeks to give our customers opportunity to get out of their comfort zones and
create memories through captured special moments. We aim to be the best event planners who
do not only provide quality but make inspired, structured, creative developments to make a
lifetime to remember event. Thirdly we would like to host some big and household names in
entertainment over time. Finally, we are working on growing and being the lead in not just event
planning but also communications through production of informative documentaries and
filmmaking over time.

ICC STRATEGIC GOALS
As a firm we are making it our priority that our customers are our business, the business depends
on customers’ satisfaction it cannot grow without them so it is important to improve our
customer satisfaction as part of our goals. Once the customer sees value from our services they
will keep coming back leading to customer retention. Another of our strategic goals is to be able
to register our company as it is a company operating internationally therefore , it gives us more
credit , brand awareness , some sense of protection through licensing and other additional
benefits that come with enhancing our public image and credibility, Our company is looking into
being a lead in technological advancement in the industry , this means we strive to have our ow
latest technological equipment in years to come which is usually rare for such small business but
it is important for us to have service differentiation . This means our company can offer an
inclusive package of event planning service with our drones , cameras, latest and updated sound
P A systems , microphones , decoration utilities and in future this can expand to another new
market where we hire our out our own equipment for a fee and our tech department. The above
goals leads to another of our strategic goals which is to break into new markets , currently we
have a video 360 booth that is trending on market , this investment opens doors to enter other
events and learn how they operate whilst networking and advertising our new facility as a
company and attracting customers and with the latest technology we can break into different
market segments aside from our clients from event planning , but we can also develop content
that can be viewed for example , documentaries on various fields in line with events , lifestyle
and many other related topics. This will further on be explained in our business strategy towards
the end of the report. ICC is also looking into being a financially stable company by setting
financial goals, budget planning, trying to minimize costs and create value with little and
increase in profits. It is also important to note that our business cannot only be relevant face to
face , we should have a strong online presence , in as much as customers meet our company
employees in person they should have access to our online platforms and resources , this means
our online presence should do more of the spreading of information and present evidence of our
work and interpersonal communication will be based more on attaining contracts with our
customers making and sealing deals and less of advertising and presenting to them what we do..

EXTERNAL ENVIRONMENTAL ANALYSIS

ICC is being established and will operate in a foreign land therefore it is important that as a
company we adhere to the rules and regulations of being a foreign business. Political unrest
division between south and north side limits us from expansion to the southern side where we
may get more acceptance from the foreign market who we may easily relate with in terms of
language and familiarity. The company has to register and obtain a license to operate
successfully we have to be in partnership with a local or investor who can assist us with
outsourcing formalities and dealing with any regulations and this could be a tough prospect as
the local partner may want half of the profits as payment and yet they have not invested any

financial value. As we become registered we have to deal with taxation laws and a lot of paper
work for us to survive within the market and we have to not only win the hearts of foreigners and
students but also be relevant to the local people so we expand in terms of political legal aspect as
we are aware that government has very influential role in policy making.
The sociocultural aspect is where we learn even how to interact and communicate because
language barrier can make us less influential within the surrounding community .We have to be
explorative and adventurous seek to learn cultures and differences as well as demands where we
have to be aware of the trends globally, be unique and attractive to the power structure demands
in economy by the younger generation now. It is true that nowadays people are more health
conscious, mental health is on the rise low self-esteem is the norm and as a company we desire to
give our clients a sense of confidence in themselves and boost their individual perception
through our services and give a sense of joy be it in the video booth or successful event that we
would have orchestrated. In the current times we cannot ignore the fact that Technology has
opened vast doors of opportunities and upgrades. As a company we are pushed to be more
innovative through introducing new products and original ways of serving our customers, new
developments for example having more portable devices, smart robots in future and virtual
personal assistant and upgrade constantly on the equipment we use. Technology or internet rather
has become more available and accessible meaning that our facilities may even be prone to cyber
hacking or software hacking, or stolen ideas therefore we have to find means to protect our
inventions through patents and copyrights, updated security this adds to the fact that internet
access is a necessity at all times. Lastly, through online platforms we can create awareness of our
brand image to our online community.
Economically ICC is affected by the current exchange rates within the country , if there is
inflation , and local currency devalues this means we have to pay more to get our equipment in
the case of outsourcing and this means we have to charge higher prices for our services , and if
living costs are increasing , people will opt to invest in intrinsic goods and less on luxury items
therefore as a company we are forced to compromise in order to stay in market or afloat, and we
deal with foreign currencies. If unemployment levels are high the community is not able to
afford our services and low money supply means low business. As a company we have to have
varying method payments like accepting cash, bank transfer and this means we have to open
various bank accounts and even use crypto currency in some cases like bitcoin.
Ecologically as a company we are established in an area where climate change awareness and
extinction of wildlife is slowly becoming open therefore as a company we have decided not to be
ignorant to these issues we are looking into adding awareness through our online content this
means we look into making wildlife documentaries capture beautiful moments encompassed
with achieving importance of conserving natural environment and also its beauty. For example,
events to do with ecological influence we will sponsor them for free in the long run. We will
work more on using equipment that has less carbon foot print on the environment, recycling
paper and use some of our renewable resources.

PORTERS FIVE FORCES ANALYSIS

The ICC company can possibly get affected by threat of substitute products, for example, the
developments in technology potential customers can decide to use their own latest gadgets like
iPhone and available apps on technology in place of the 360 video booth for background as well
as self-editing like tick tocks, people do not need to go to studios to capture pictures. These days
everything is slowly becoming digital and with time event planning may not even need
companies to execute the work and also the organizers of events can decide to self-plan their
events it lowers costs. Power of suppliers is very crucial, these days many gadgets are being
supplied and outsourced globally and accessible, people can even create their own customized
equipment and make their own demands price will only be the distinction. Our company faces
external threats from new entrants as there is an increase in awareness of its demands in the
society , many companies are now slowly considering having the 360 booth in Cyprus, also
gadgets like iPhone come with extra quality benefits sometimes they are even used in place of
cameras in some instances even video production and live streaming . Product and service
differentiation now has a thin line between industries, capital requirements to start event
planning are most likely similar and investments are not too costly there are no barriers in place.
Rivalry in existing competition among existing companies is very evident as their many
companies increasing in diversity and offerings and for IC to gain market share it has to prove
itself as a foreign company, most likely our customers will start of as students and foreigners and
yet we are in an industry where their ready dominating event planners be it individual who have
grown their companies over time and have a larger share with the locals. We should not forget
that with events their different segments, if it is a wedding or large party they may have more
profit and large input requirements as compared to smaller functions like perhaps a baby shower,
birthday dinner or engagement party. It should be noted that for the company to gain some kind
of distinction and service characteristics that ae evident they should be able to rise up to be a
bigger brand that can host plan even bigger events and be more opened minded within the
industry and stand out, we cannot fully rely on smaller events but we look into hosting or
organizing big events globally and grow which is something some event planners have achieved.
There is also an issue bargaining power of buyers, if the clients work with us and we fail to retain
them it is a loss to us. Customers can decide to deal with more experienced and long existing
brand name compared to a startup even the foreigners will want the best and patronize local
event planners despite the fact that we could be of same nationality for various reasons. If a
buyer does not get the satisfaction they need they can easily change their decision to work with
ICC moreover, some may not see the importance of our services for example the video booth
may not be attractive investment to the older or mid 40s generation and they will not want to use
it. In addition to this as a company we may then be forced to bring down costs. However, we are
driving to build a strong customer base such that we have somewhat power therefore there is
pressure to be exceptional and efficient and give value for the money, the more customers =
growth.

INTERNAL ENVIRONMENT ANALYSIS –VRIO

IC Company is looking into creating our own website where we will put our content for the
public to know our services .We have set up an excellent customer service and when we do
events we are able to publish and take enquiries and advertise through email marketing and this
is one of our valuable characteristics. Our core competency at the moment as an event planning
company is our 360 video booth .The video booth comes with the following features, the 360
rotation, LED lights that show especially for evening events , a remote control , our ICC custom
logo and remote control which we can use from a distance. The video booth comes with unique
designs it can be any background and customized according to the client demands, it is limitless
creativity, it brings friends together or family as it can fit minimum 3 to 4 people .We are looking
into investing on good quality camera lenses as well as the drone between 2022 and 2027. Our
video booth is rare within North Cyprus as it is costly to purchase outside however, because of
rareness in availability we are able to capture the audiences whose functions we host and on its
own it will bring profit. It is very costly to imitate however that does not mean it cannot be. In
addition, organization wise, we are looking forward to partner with big events and concerts all
over north Cyprus and globally. The video booth works as follows, it has camera orbits going
around and films a 360 degree slow motion video of the customer or user. Our customer’s videos
are streamed to an email and social media sharing platform station where they will instantly
access their videos instantly with no interruption. One of our ICC team members will help to
stage our customer to ensure the best video is captured and another tech member will assist our
clients in sharing and completing the product offering efficiently on site. In summary, our human
capital is skilled and valuable. This new innovation can elevate what we were already offering
our clients and help us stand out from other event planning companies. In the future we are
looking into having a minimum of three to five highest quality booths on the market.