Wealth Improvement Approaches

This section of the executive summary describes the methodology or approaches that will be taken by
the business in order to:

I. Maintain a competitive advantage

1. Crochet Love, compared to the other brands, it has a significantly higher quality, a better
knitting product. Crochet Love is located in a crowded place where people can easily find and
visit here.
2. Crochet Love offers a trendy fashion, an artistic work, and a job of individuals using their
creativity. When you compared to the other brands, our store offers more. Crochet Love are
committed to continuously improving the quality of our product and services by joining in an
orientation to earn more knowledge about our business.
3. Crochet Love is unique and creative since it was launch in the market. Our store launches a
different design that individuals made using their talents and skills.
II. Position the business in the market
Our competitors would also sell their products at Dagupan, City. Consumers will have a
difficulty to choose since there are many near clothing stores that sell also. Some companies
may choose to sell their products at a very affordable price. This strategy works because
most potential customers are students, employees, and other people who are looking for
affordable products. It is the mission of Crochet Love to provide a new product and an
affordable level of quality. We have a cheaper price with good quality products than our
competitors. Crochet Love is also competing on quality instead of price and we will provide
the good quality that our customers are looking for.
III. Improve market share
Although there are a lot of competitors in the market, we will make sure that our customers
could reach the satisfaction level. We will make sure that our business is always on trend to
attract and gain customers.
IV. Maximize the utilization of resources
Crochet Love focuses on how much time that the individuals spend on their tasks. There are
multiple ways to measure resource utilization but the simplest and most common method is
by taking the actual number of hours worked by a resource. It is need to keep the process
on time and on budget. If any tasks fall along the critical path, then deadlines will be missed,
and we couldn’t catch the opportunity to create another product when new trends came.
We will make sure to balance the utilization so that they will be no wasted resources and to
allocate resources based on availability and need.