New World Computing's New Business Idea
To: Board of Directors, New World Computing Inc.
From: Casey Hampton, Consultant (Vidhan Jain)
Subject: Consultation report
Date:
Executive Summary:
Working on a new, innovative and an easy to use product in the form of Pulse in the growing market of medical technology, New World Computing has tapped what is a very promising business idea. With limited competition and superior product design, the firm has immense potential to mass market its product and to reap the benefits of the growing medical information system industry.
While Rosenberg Minsker and our team continue to remain optimistic about the prospects and continue to pitch to new clients, we have not been able to deliver the promised packages on time and fulfill contractual obligations. Existing clients are thus beginning to express dissatisfaction and are retracting. Inability to provide these packages on time and failure to charge for services has left New World Computing in a cash crunch situation, requiring working capital of about $100,000 to fund its operations.
After being approached by Laura, I have decided to help New World Computing through a pro bono consulting agreement. This venture represents an opportunity for me not only to give back to the medical technology industry, but to also get a promising business idea back on track. The first step is to create a report which would investigate;
* What issues/problems within the company have gotten New World into this predicament? * What can be done to improve the situation of the company? * What should be the long term vision and business plan for New World Computing?
The purpose of this report is to explore the causes which have gotten New World into this predicament, to suggest a few options for changes in management, and to demonstrate how incorporating these changes would lay the foundation for a comprehensive business plan, which would allow New World Computing to achieve its full potential as a pioneer
From: Casey Hampton, Consultant (Vidhan Jain)
Subject: Consultation report
Date:
Executive Summary:
Working on a new, innovative and an easy to use product in the form of Pulse in the growing market of medical technology, New World Computing has tapped what is a very promising business idea. With limited competition and superior product design, the firm has immense potential to mass market its product and to reap the benefits of the growing medical information system industry.
While Rosenberg Minsker and our team continue to remain optimistic about the prospects and continue to pitch to new clients, we have not been able to deliver the promised packages on time and fulfill contractual obligations. Existing clients are thus beginning to express dissatisfaction and are retracting. Inability to provide these packages on time and failure to charge for services has left New World Computing in a cash crunch situation, requiring working capital of about $100,000 to fund its operations.
After being approached by Laura, I have decided to help New World Computing through a pro bono consulting agreement. This venture represents an opportunity for me not only to give back to the medical technology industry, but to also get a promising business idea back on track. The first step is to create a report which would investigate;
* What issues/problems within the company have gotten New World into this predicament? * What can be done to improve the situation of the company? * What should be the long term vision and business plan for New World Computing?
The purpose of this report is to explore the causes which have gotten New World into this predicament, to suggest a few options for changes in management, and to demonstrate how incorporating these changes would lay the foundation for a comprehensive business plan, which would allow New World Computing to achieve its full potential as a pioneer
Cited: a) IDCC 320 Assignment 4, case Handout ( Exerts taken from the case) b) Failure Process and cause of Company Bankruptcy: a typology, Hubert Ooghe and Sofie de Prijker c) Start up Business Advice from Business Owners to Would-Be entrepreneurs, Robert N. Lussier d) www.investopedia.com Keyword Search: Business Plan