Question

8

1. If you want to buy a new office in addition to your current one, what kind of planning you will be required to do?

2. If Ikea wants to enter a new market, what would be its first step to understand the market?

3. As a manager of a technology company, you want to launch a new product in the market asap. How will you make sure that the decisions are faster as there is little time to plan? What issues you might face?

Answer 1

1. A business man needs to consider many things if he wants to invest his time and money in a new plot or office. Following are the points one should plan before purchasing another office:-

a. First important thing one needs to think what all the facilities or services he needs as there is less space in his/her current business inventories. He should first prepare interior and exterior layout of the office.

b. Another thing one needs to think about is the office location. As this is the huge investment from the owner's side, he should thoroughly research about the location, its surroundings and should try to cut down his expenses by renting or buying the plot and build himself.

c. One should also think about the profitability in the future because this is the main reason he is investing this huge amount of money. If he owns another office, will he able to make profit out of it. He should also consult with his financial adviser for the same.

2.If Ikea wants to enter a particular market,her first step should be to research about the different products in that particular market. What all products are in trend and what all things are preferred by people. Along with this, she should also look for her competitors and their strategies they are using to grab the majority of the market.

3. As a manager of a technology, I would first test the product in various domains that it is not getting failed due to any reason. As there is a little time, I will prepare a BETA version of that product and supply this within my team and ask for any faults in that. The problems that I will face while testing my software product is that there might be a technical difficulty or any glitches while performing any test on that product. Also, if any fault arises in it I may have to re-build that product and create a hassle free environment in order to get the product successful in the market.