Progress/Status Report Due Nov 16th

Second Project Status Report

Team name: Ascend, Inc.

http://ascendbusinessplan.blogspot.com/

Team members:
Jessica Haas (Project Manager), Deb Flores, Kate Sanders, Linda Rose Adamo, Erinn Harrington

Project chosen:
Start-up Design Firm, Limited Liability Corporation

Our New York City based branding firm offers solutions in corporate identity, marketing, advertising, packaging and exhibition design. We specialize in destinations, organizations and businesses within travel, tourism and hospitality industries. We partner closing with clients around the world to help new businesses and products get off the ground and help existing brands take on new heights. By drawing and strategizing, we strive to invent unique, conceptual design and branding success.

Brief description of what we have been doing:
In order for Ascend Inc. to function as a company, legalities have to be determined. This includes different type of insurance policies and licenses that are needed. Ascend Inc. has developed our company’s history. Knowing our foundation allows us to understand where we have come and figure out where we are going. Stating our background as a firm helps with forging client’s relationships.

We defined our roles within the firm, which follows the Associates Model. The organization structure clarifies who would fill the positions in Ascend Inc. Also, in this section our partners explained their personal history and how they came to Ascend Inc.

Under the history and HR section, we put in place the descriptions of each position in our organization. Ascend Inc. has defined roles for the individual positions. With the understanding of individual roles partners will better work together and identify with their importance in the firm.

We have also developed an outline for the human resources aspect of the company. An employee handbook has been developed. The structure of the company, as well as the salary ranges and employee benefits have also been determined.

Our firm is focusing on encouraging people and companies to travel. We create guidebooks, brochures, travel campaigns and promotion ads for hotels, destinations and resorts.

We plan to do this through a program that includes the following:

Ascend Inc. has thus far developed a SWOT chart to pinpoint how the company can succeed. It narrowed down its weaknesses and strengths, as well as internal and external elements. This chart will be used to make the company stronger.

Ascend has taught up some extensive promotional ideas utilizing social interaction tools for self-promotion. As we start out ,we will rely on basis social networking tools such as online marketing, involving ourselves with blogging and writing articles, speaking engagements, cold calling and social networking such as hanging out our business cards and making connections. We will also enter design competitions, win and receive awards and get free press.

As we grow as a company we can also grow a budget for advertising. We will take our ad space in our target market’s magazines and websites. Give away freebies, hold contests and sponsor charity events. And last, we can offer discounts for referrals, repeat clients and give holiday promotions to our old and perspective clients.

Ascend Inc. has begun to develop a marketing plan, consisting of an Executive Summary, Brand Name and Service Positioning, Situational Analysis, Segmentation and Target Market, Objectives and Goals, Marketing Tactics, Implementation Plan/Action Plan, Budget and Controls. We have defined our specialization and target market, which helps guide our business plan and keep us focused on our niche.

We have also formulated an identity for our company by developing a logo for Ascend Inc. and an invoice template.

Bulleted status of project to date

Roles/responsibilities each team member is assuming: (Primary listed, all collaborated)

D. Flores – Financial

J. Haas – Promotions

K. Sanders – Marketing

L. R. Adamo – Job Descriptions and Organization

E. Harrington - Company Branding

Tasks completed:

1 - Creating the Business

2 - Incorporation of the Organization

3 - Developing the Business Identity (Name)

4 - Initial Development of the Business Plan

5 - Initial Market Research

6 - Initial Competitive Research

7 - Corporate Brand Logo Explorations

8 - SWOT Analysis

9 - Developing the Mission Statement

10 - Developing the Human Resources

11 - Legalities

12 - Promotions

13 - Company Logo

14 - Marketing Plan

15 - Job Descriptions

16 - Organizational Chart

17 – Company Invoice

Tasks left to do:

1 – Financial Plan

2 – Design Process Plan

3 – Bank Loan Application

4 – Ascend, Inc. Contract

The Ascend, Inc team has approved this status report:

Name Initial as approval Date

Jessica Haas

Deb Flores
Kate Sanders
Linda Rose Adamo
Erinn Harrington