• Paradox bicycle Ltd. Will start their journey from 1st January 2018. Our products will ensure that it will satisfied our
customer through our quality and longevity. Paradox bicycle Ltd. is a friend’s owned business, currently organized
partnership. PARADOX is a Bangladesh-based company that designs and sells a variety of road and mountain
bicycles. The company will be formed as Paradox Ltd. The company will sell various kinds of bicycle via the Internet
and physically to customers, and we want to take the company to the next step. Paradox bicycle Ltd. will meet
customers where our main focus is on customer and market demand.
• The company will be operated from the owner's home as well. The company will sell the seat posts and other bicycle
execories via the Internet to individual customers, and the owner wants to take the company to the next step.
DESCRIPTION OF THE BUSINESS
• Name of the Business: Paradox Cycle Industry Ltd.
• Nature of Business: Manufacturing.
• Sector/Industry: Company.
• Objectives: It is Paradox Bicycle’s mission to create the finest quality of cycle on the market. It will emphasize
comfort, demand and enjoyable journey for all of our customer’s through our quality products. Our aim is to
become the premier bicycle service provider and increase sales to make Paradox Bicycle a sustainable business.
• Type of Ownership: Partnership.
• Paradox Bicycle will employ two somewhat distinct marketing strategies to reach its perspective customer segments.
• The first strategy uses the website to raise awareness of Paradox Bicycle to individual consumers. The website will be
up for a year and there will be continual improvements make to it.
• Paradox Bicycle will be quite active at the various industry trade shows to develop sales relationships with the
different distributors. The trade shows are the most effective place to develop close relationships with new and
perspective distributors. Since the business relationships are based on trust, participation at the shows will allow
Paradox Bicycle to invest a lot of trust into many different relationships.
• Paradox Group has chosen the Dhaka city to capture the Bangshal bicycle market, which is the biggest bicycle
market of the country.
• Paradox Bicycle has identified two distinct market segments, individual consumers and distributors. Paradox
Bicycle will serve distributors l consumer and will be adding individuals as customers. It will be quite easy to
differentiate between the two groups of customers. Individual sales will be derived via the Internet, and sales to
distributors will be accomplished. through participation at the industry trade shows.
• The sales focus for this group will be the conversion of qualified leads through the emphasis of the
products being customer designed for the specific customer, combining comfort, lightweight, and a wide
safety margin. This will help differentiate Paradox Bicycle 's products from the competition. Concerns about
durability will be eliminated by the industry's best warranty of five years.
• The sales strategy for the distributors will be quite different. It will emphasize a close relationship between
the distributor and Paradox Bicycle. This is very important because it is of great concern to a distributor for
them to carry and feature a manufacturer who has delivery or warranty problems. Distributors are sensitive
to the issue of availability of the product from the company. Paradox Bicycle will work hard on convincing
distributors that it will be able to meet all of the needs of the distributor, that production can be scaled
quickly if necessary, and that Paradox Bicycle is quick to fill orders, allowing the distributor not to have to
keep a large inventory of the product out of fear of not being able to fulfill orders from a bicycle retailer.
Lastly, Paradox Bicycle will work on impressing the distributors at the shows that they are making a high-
quality product with a low failure rate and that if any warranty claims are made they will be addressed
quickly and happily. This is in recognition that sales are made based on relationships, as much or more so
relative to the actual products.
RISK OF BUSINESS
As new comers, Paradox Group has to face some certain risk to sustain in the market. They are:
Risk from Chines products.
Established strong competitors (like Siraj Cycle, Meghna Cycle).
Volume / Demand Risk.
Maintenance Risk etc.
The way Paradox bicycle will produce their product are:
The Raw Materials
The Manufacturing process
Tailoring the tubes
Brazing, welding, and gluing
Aligning and cleaning
To efficiently manage inventory, the company will keep track of how often the inventory "turns." This will help us to
keep track of how often we sell our inventory in its entirety, or its financial equivalent. As we determine the number
of turns we have a month, we will learn to order just the right quantity of replacement goods. Managing inventory
will help us to keep our budget on track and also enable to efficiently manage our operating capital.
Assess the type of inventory we keep
Track market trends
Determine the quantity of goods we will need to keep on hand
Identify a minimum stock level
Keep goods shelved so that we implement FIFO
Track our inventory, either manually or with a computerized system
ORGANIZATION AND MANAGEMENT PLAN
Monitoring will be executed by all individuals and institutions which will have an interest (stake holders) in the
project. To efficiently implement the project, the people planning and implementing it will be our plan for all the
interrelated stages from the beginning.
The stages our company will go through will:
Situation Analysis and Problem Definition.
Setting Goals and Objectives.
Generating Structures and Strategies.
Summary of the Relationship.
Monitoring the Mobilization and Organizing.
BUSINESS SOCIAL RESPONSIBILITY
Usually, when we launch a business, we funnel our resources and energy into our company – not into helping
others. Yet we live in a time when many customers judge companies by their demonstration of compassion and
activities we will undertake to fulfill our responsibility towards the community, such as:
Producing safe and affordable products and services
Generating income and investment
Developing human resources
Building local businesses
Spreading responsible international business standards and practices
Supporting technology development and transfer
Establishing physical and institutional infrastructure
TRAINING & DEVELOPMENT
In new businesses, "management" is often considered "whatever needs to be done just to keep things afloat".
However, for our business to grow and remain healthy, we must master certain basic skills in management and
leadership -- skills that will help us avoid the crisis situations where we have to do "whatever it takes to stay afloat".
The basic skills include problem solving and decision making, planning, meeting management, delegation,
communications and managing ourselves.
Problem Solving and Decision Making
USE OF ICT
We live in an age of “Information and Technology”. The company that have more information, are more successful
today. Startup business like ours, can use ICT in many ways. We can save money actually by the help of ICT. The
way we can use ICT in our business are:
• The backbone of Paradox Bicycle is their uniqueness. The owners of the company are acquiring knowledge in
entrepreneurship. This knowledge will help them to run their company and it will teach them how to sustain in
this competitive market.
• The owners themselves Being as active cyclist, was interested in working within the bicycle industry. In future, the
organization will run by four people. They have already designed the products one of them will in charge of
product procurement, order taking, customer service, and assorted other activities. As travels to the trade shows
as well as ramping up sales to accommodate the distributor sales, the rest of the members will assist him. The
other members will do a wide range of activities from administrative support to order taking, customer service,
post assembly, and order fulfillment. By working together, it will help free up 's time to really increase sales with