ANNUAL REPORT

The company’s objectives, mission, values, and vision include;

MISSION

Our mission looks at inspiring radical ideas and turn them to life using strategic actions.

VISION

We trust greatly in the influence of ideas to enhance attitudes, lives, and the world ultimately.

VALUES

Passion for Growth- we are always looking forward to better financial rewards to our investors as we
deliver opportunities for enrichment and growth of our business, employees, partners, and the
surrounding communities where we operate.

Rigid Principles and Pride in Doing Things the Right Way- we look keenly for accuracy, honesty,
fairness, and reliability in all the things we do as a business. The element lies in sustainable growth
achieved through trust.

Collaboration is vital- If we have to win in the long run, then we have to join up as a team.

Inclusion is Vital, as it is a core Business Domineer- our inclusive mindset and performance are enabling
us to operate effectively within a global marketplace.

OBJECTIVES

The company’s main objective is to develop and produce products of the highest quality, those that
conform to international and national quality standards. The company aims to give the highest level of
customer satisfaction possible.

History

The creation of the laser enabled the very first practice of optical holograms that could record 3D
objects into creation. A hologram refers to 3D images made using photographic projection. The term
emanates from the Greek words holos and gramma. Holograms could in the future be made to transmit
electronically rays to unique display devices in businesses and homes. Holography is the technique 3D
images can be created. This process involves interference, diffraction, laser, and light intensity
recording, and is ideal for illumination of the footage.
Organizational Hierarchy

Nature of business

Our business mainly deals with craft and art-based invention where we focus on the quality and
discovery of new products that satisfy our customers. The ownership of the company relies on
partnerships having almost five partners in it. The key players in the business include the manager,
operation director, marketing director, and financial director. The company mainly deals with VR gaming
gadgets, photo frames, and Holograms.

KEY PLAYERS

Managers

Marketing director

Operation director

Principal financial directors

Organization Overview

NAME: BRIGHTRAYS

BUSINESS: Profit Organization

WORKERS

Designers
Manufacturers

Other employees

OUR MAIN PRODUCTS

 Holograms
 VR Gaming gadgets
 Photo frames
 Binoculars

Structure of the organization

A vital factor in achieving the objectives of an organization is based on the planning process within the
work structure of the organization. organizations are composed of people, resources, and ideas, work
hand in hand to meet the goals of a company. The purpose of forming functions within the organization
is to fully reach the potential of resources within a company to accomplish the aims of an organization.
Organizational structure is the root of the decision-making process framework through which different
tasks are divided into different entities within the organization. formalization is a vital aspect of the
construction of the organization. it is the extent to which the units within the organization are
unambiguously defined and its procedures, goals, and policies are specified. The top management is
obligated with these tasks where an organization’s structure can be designed the official organization
can be symbolized and seen in a chart usage. A chart of an organization portrays the structure of an
organization including the lines of authority, job titles, and affiliations between departments.

The casual sector of an organization is the network, which is not related to the company’s
formal authority framework, where social interactions within a firm’s workforce intermingle. Social and
personal relationships begin spontaneously as employees mingle with one another within the working
environment. Thus the manager and supervisor need to keep in mind that informal aspects of an
organization significantly affect the formal structure of an organization. The informal organizations can
lead to the conformation of group members to produce the expected results of an organization and
relate well with the formal organization. This is also important in solving conflicts within an organization.
thus managers have to be aware of such conflicts, get to know the roles played by various members in
such groups and used this knowledge within these groups to effectively ensure the smooth running of
the organization. Therefore, having the informal structure of an organization being effective could
directly affect the formal formation of a company. Having healthy informal relations is therefore
important for any given company.
Managerial Hierarchy

Levels of Management

Top Managers

The manager at the top level of management is obliged with making the organization’s huge decisions
and establishing the objectives and plans that affect the whole organization.

Middle Managers

These are the managers between the highest level and first-line managers. Their objectives are to get
orders from the highest management and they are to implement the orders and tasks on the lower level
within the management hierarchy.

First-line managers.

These managers come third on the managerial Hierarchy. The managers at this level in the organization
tackle the tasks of the non-managerial workforce that work directly with the production process and
creation of products in the organization. They could be referred to as the company’s supervisors.

Operatives
This includes the workforce that is on the ground and is the lowest level within the managerial
Hierarchy. These are the employers within the organization that is assigned various tasks depending on
their specialty. They do not have any supervision powers instead they have to adhere to all the orders
down to them by the managerial Hierarchy.

BCG Matrix:

 Cash cows (high market share, low growth)- Binoculars

 Stars (high market share, high growth)- VR Gaming gadgets
 Pets (low market share, low growth)-Photo Frames
 Question marks (low market share, high growth)-Hologram

Strategy in the past periods

All the company’s strategies have always been based on the companies’ mission statement that
portrays the goals and objectives of the company.

 Immediately after deciding on the objective and tasks that need to be completed, the company
will investigate the surrounding environment to determine if their strategies are effective or not.
 If they are found to be applicable, the opportunities and threats that could arise are evaluated.
 Internal factors are then internalized, after which the management focuses on analyzing and
allocating the organization’s assets.
 The strategies are then planned for execution after summarizing the internal and external
information.
 After this process of gathering all the information and resource needed, the process of
execution begins where every single department and workforce within the organization are
expected to give out their best to make the process successful.
Strategy

Marketing strategy
Strategic Analysis
Currently, BrightRays is widely known given its famous and growing innovation in the industry
producing high-end products, steadily expanding and improving. If we were to critically examine the
competitors in the same field making holograms products, we could conclude that BrightRays is facing
competition given this is a field that is growing daily worldwide, however, the range between BrightRays
and other companies is quite large. In examining the market of holograms competition comes from two
sides. Those that are only focused on holograms and those that mix products by producing holograms
among other products.
In our case, the direct company competitors are by a far range close to BrightRays. This is
because the revenue generated at our company is much higher than that of the other companies.
Besides BrightRays branch network is expanding at a higher rate having new branches upcoming in
different cities within Canada and Internationally. This implies that the gap between BrightRays and its
competitors is huge. This is attributed to the proper strategy followed in setting up the companies’
departments that are responsible for various activities such as procurement, manufacturing, to selling to
clients like any other multinational organization. The difference between BrightRays and other
companies is that despite other companies having being equipped with manufacturing plants using the
latest and best technology, competitors are only focusing on a small segment of the market, dragging
behind in upgrading and exploiting more market share. This causes the race to capturing more market
share to be led by BrightRays and extending the gap in competition.
Market and Vision Structure Analysis
The Innovation industry in Canada and other countries is growing rapidly. Within the country alone
there are many dealers in creating holograms that are used on numerous occasions. However,
BrightRays having been in the industry for a while makes it effective in serving this industry.
Market Segmentation
The prices of the products produced at BrightRays are higher compared to its competitors. Additionally,
the stores of BrightRays are located in suburban areas that are costly and inhibited by mostly the upper
class. Therefore, the main target market includes the upper-class and upper-middle-class.

Differentiation and positioning

Due to our unique and high-end products and production process within the market, our differentiation
stems from reducing competition. Given our targeted consumers, this will enable us to get consumers
that are conscious about quality and additionally prefer newly innovated entry products within the
market. The strategic positioning of the stores and outlets also enables the business to access targeted
consumers easily.
PERFORMANCE

Continuous Learning of the market

During the early years of BrightRays, it began within a small congested inner city where it was a
shop that sold traditional Hologram products. It was operating on a small scale and only concentrated
on holograms products and not innovated products. However, BrightRays has been steadily upgrading
through the years. Gradually and constantly the company has been learning the new trends in the
market and the varying client’s preferences. Additionally, the company has been changing the outlook of
the stores to look more modernized, additionally, the operations and systems in the store have been
enhanced. This made it possible to transform from a small-scale business to a high-level business
company within big cities.
Another aspect is the continuous and diverse enhancing and modification of products over the
years has enabled BrightRays to innovate numerous diverse products successfully within the market.
The company has put much emphasis on the quality of its products thus the company has an
independent quality control department that regulates the product’s quality.
Market target and strategic positioning
In analyzing the target market of BrightRays it is noticeable that the company mainly targets the
mid, upper-middle, and upper classes. That is the reason the companies’ products are cost higher
compared to other companies selling the same products. However, in terms of variety and quality,
BrightRays are more enriched given their expertise gained over the years. Additionally, examining the
stores and environment surrounding them, the cleanness and tidiness attract from afar. The staff is also
knowledged and equipped with skills to interact and relate with customers just like in any other
international product shop.
Another vital aspect of BrightRays is the corporate clients that get products from them. This
includes big companies and banks. The company designed exceptional holograms products that are
tailored according to their needs and preferences and packaging. This makes the pricing for these
products different from the rest given they are unique thus require more work and resources. This
enables the business get to earn high revenue due to the corporate clients.
Brand Image
Among the unique features exhibited by BrightRays company, the immediate outlook position is vital as
it speaks for the company. Some of the aspects include;
 Employees are all clean, neat and in uniforms bearing the company’s logo.
 The holograms produced by BrightRays are imprinted with the company’s logo differentiating it
from those of other companies.
 A wide range of holograms is exhibited in the company’s stores.
Marketing relationship strategy
BrightRays is using leaflets, magazines, hoardings, banners, and public transport branding as
communication tools for their marketing purposes. In addition to these promotional activities are
incorporated while marketing. These activities include wedding offers, free sampling during the launch
of new products, coupons, and discounts on bulk purchases. Regardless of these communication tools
being efficient and good and the number of sales increased due to these tools, online and Tv
advertisements campaigns have been not been involved. These are communication tools that can be
able to reach a wider population within a very short period.
Target Market Analysis
Holograms and related products are items well known and are accepted for all age groups people.
People of both genders, all ages, family sizes, and generations. Given that all these criteria of people like
holograms and other core products, there is no exception for children, teenagers, and the aging
populations. Regardless the main target of the BrightRays is between the ages of 10 to 50 years of age.
People beyond this age may not be very active and interested in such innovations due to their
deteriorating health hence to many such products may not be of interest and priority to them. Gender
on the other hand has no big influence within the target market as both equally came in the sphere of
Bright Ray’s target. The new generation is the most interested and concerned about innovations and
technologies hence BrightRay ought to give the most attention to this age set as a target market.
SWOT Analysis
Strengths
 Comes with a strong brand name
 Mass production leads to reduced cost and this boost the financial revenue and smooth flow of
cash flow
 The company depends on its setup hence it is a family business resulting in an independent
decision-making process.
 The company owns almost 30% of the market share, making it the leading company.
 The company has got vans used for deliveries in given instances.
 The company is widely known in regards to quality.
Weakness
 Does not accept small orders in terms of delivery
  The company heavily depends on the finances of other financial institutions
 Inter-departmental coordination lacks within the company
 The process of employee reward and promotion is inadequate.
 The selling price is high for consumers that have a low income, thus fewer sales overall.
 No policy has been put in place to retain the best performers within the company.
Opportunities
Being one of the best companies within the market place there are opportunities to extend and
enhance production and make exports internationally in countries such as the USA, UK, and the
Middle East.
Threats
 Same products from other brands outlets sell their products at a cheaper price which poses a
threat.
 There has been an increase in tax for advertising thus reducing the profits that could be earned
due to increased costs.

COMPETITION

Expand marketing channels

To be able to greatly influence our target market various marketing channels need to be introduced.
online channels for advertising are marketing through social media which includes Facebook, Instagram,
and Twitter to enable us to reach the targeted audience easily and rapidly. Additionally, creating an
advanced website for the company is vital as it can be integrated with self-help robots, where customers
can get their questions and complaints tackled. Within social media advertising, pictures can be used to
mainly focus on the cost and quality of the products being produced by BrightRays. Besides, the captions
will include the company’s slogans that entice the fans and customers. One of the main advantages of
this mode of marketing is that it is cost-friendly and clients can make direct orders in real-time.
Additionally, within the comments section, the customers and fans can interact and discuss the products
produced by our company.
Market Monitoring

For BrightRays to continuously expand and get more success, it has to design techniques to
evaluate which determinants within the market plan are successful and which are not. Product
innovation is one vital aim set by the business. To evaluate the effectiveness of this innovation, the
company will have to be keen on the sales of highlighted products. By practicing this the management
can tell which assortments are successful by evaluating the sales. Every month the company will be able
to evaluate which specific products are successful and make alternative proposals and
recommendations. This analysis will therefore be able to tell products that boost the sales hugely.
Customer surveys are also vital as they indicate consumer’s preferences and opinions regarding
a product. These surveys can be incorporated within the online social pages of the company and the
company’s website. Having this information at hand will enable the management to make changes
where needed. Market share comparisons will also benefit the company as they know strategies to
advance and maximize accomplishments. BrightRays will be able to compare its success to that of its
challengers. This way the management can alter the prices, services, and quality of the business model.
Market Intelligence
An organization can be affected by numerous external factors such as competitors, customers,
stakeholders, and many others. Currently and in the future the international business paradigm is
shifting making the competition within the market more intense as days go by. Thus crucial analysis of
competitors and knowing the trends within the market is crucial. Therefore, the process of examining
the market trends and competitors and being a step ahead is the strategy companies should embrace
referred to as market intelligence. In past, many scientists have written numerous articles regarding vital
roles played by marketing intelligence in expressing strategic marketing plans by reducing internal flaws.
The assists marketers in knowing the potential a market entails therefore being advantaged regarding
the competition. The changes within the marketing environment and enhanced technological instances
inspire marketers to get involved in marketing intelligence more often.

Plans

 To keep expanding and enhancing BrightRays through innovation and quality.

 Incorporate recognition to improve its operations within the company.
 Make plans to expand internationally with a wider presence within the nation and expand its
affiliates to the USA and Europe.
 Come up with more promotions through numerous innovations by BrightRays through giving
out gifts to its customers with various products.

KEY TAKEAWAYS AND ADJUSTMENTS NEEDED

Recruitment process and selection for vacant jobs within the company
Given the growth and expansion of BrightRays company, there are going to be numerous vacant
positions that need to be occupied. Therefore, there is a need for a strategic plan that can be used to
take in more employers. First, the skills of those to be employed have to be analyzed and observed.
After which the required training has to be done for those new to the company to adapt and grow
within the company. For those that are to occupy managerial positions, certain skills should be given.
This includes employee management, conflict resolution, customer engagement, decision-making
process, and conflict resolution. This should be followed by a designed technique to measure the
effectiveness of the training conducted. After this, the management has to come up with the job
description and as is expected of those being employed including their positions, salaries and benefits
they are entitled to.
Strategy for the next 5 years and Projected Numbers

Business growth strategies

When referring to growth normally analysts are referring to increasing revenue within a given period. In
our case, we are referring to the general increment in Net Earnings or the cash flow. Through research,
there are various ways by which the company can ensure that there is growth within the organization.
some of the key aspects include;
  Market penetration- getting rid of the currently existing products to the targeted consumers
within the market.
 Market Development- making the sale of the current stock of products to new markets
nationwide and internationally.
 Product improvement- enhancing the products in terms of quality serving the current
consumers.
 Product Development- developing new products to get into new markets. This could be
perceived as some kind of diversification move.
 Revenue Optimization- growing revenue through developing different pricing options and new
business simulations for the existing products.
 Cost Optimization- reducing costs through the optimization of the business’s centers costs,
eliminating unproductive use of cash, and streamlining operations.
 Inorganic Growth- Leveraging other companies’ resources through synergistic unions, strategic
associations, and acquisitions.
Therefore, the company will critically analyze how these factors affect the organization after
which the management can come up with decisions through which they would become most
effective.

Depending on the main strategies the company decides on will determine the rate at which the
company is going to grow, together with a strategic position plan and execution strategy in place. It is
therefore important to understand the plan in place for growth since, in the end, no company has got
unlimited resources and management bandwidth to go after all the opportunities that arise. The
management, therefore, has to be cautious while selecting the paths to use in growth and also
understand the capabilities of their resources.
 Recommended business growth
Apart from the criteria used to tackle growth opportunities, there are more essential problems
BrightRays could face which is the actual assortment of the growth initiatives that the company should
focus its power on.
Developing a Strategic Growth Plan
The best way to begin a growth plan is to estimate the growth range that needs to be covered
with innovations within the business. For instance, for BrightRays the plan for the next 5 years could aim
at growing the revenue by 15 percent in a year. if BrightRays was to generate $100 million this year in
net earnings and aim at a growth rate of 9% per year, then the earnings that can be generated by the
company each year can be calculated. Having an indicative number of the earnings gap can assist in
better understanding of the growth wits the company can go after.

Although there is no perfect approach to select strategic growth opportunities since the
selection has to adhere to certain uncertainties within the company structure returns inclusive and also
meet the specific strategic goals at a given moment. It is recommended to pick numerous investment
parameters for BrightRay company. This may include required investment, inventory preferences,
returns, and net earnings. Which after start filling the growth gap beginning with the initiatives that
suggest performing greatest within the chosen parameters until the gap is filled.
Crossing the Growth Gap for BrightRay

Breakdown of the growth plan in various categories

In given ideal situations there will be a growth strategy that is balanced across three parameters that
are creations, optimization, and expansions, however in reality there would be a firm bias towards a
certain category, depending on the dominant strategic aims of the moment, which is fine out of
familiarity. Below is a template that will guide BrightRays in the next five years.
Breaking down BrightRay growth strategy
Unless one can estimate the amount of effort contributing to the growth of a company, one will
not be in a position to get the most out of it. Thus there is a need to understand each unit of a business,
optimization experiment, and products and how they contribute to the growth of the business. The
management can pay attention to factors that are working for the company those that are not and
loopholes that can bring improvement. One of the vital tools that can assist with the breakdown is the
sources of revenue statement that enables one to a breakdown of the revenues for a certain period,
which is resourceful in examining growth efforts and reallocation of resources.

The same breakdown can be applied for net earnings and profits given the company has got sufficient
data to allocate costs, however, this statement of sales can provide an ideal beginning point to
understand the components that are generating profits.
Adopting a portfolio approach within the growth strategy
In managing various business units, BrightRays can adopt a portfolio mentality, where it aims at
maximizing the strategic growth that the portfolio develops wholly within a certain period. This will
assist the company to well balance its efforts across various business units and come up with better
investment allocation decisions leading to a superior growth strategy. Thus this can be achieved by
putting the business units into a four-by-four matrix depending on their competitiveness and the
strategic growth possibility within their markets.
 By BrightRays familiarizing itself with the growth-share matrix will notice that it is an updated
growth strategy tool that utilizes market potential and competitiveness as substitutes for the original
scopes. Using this tool, the company can examine each business unit;
Cash cows- these are businesses with a strong market position within a low-growth market.
These units give healthy cash flows that can be used to start other businesses.
Stars- includes units with strong positions in high-growth markets. Such business units normally
require a lot of cash to keep their share of the market and gradually become cash cows after
maturity of the market.
Pets- these are business units encompassing feeble positions in low-growth markets. Pets
normally produce low returns on the company’s investments.
Question marks- this refers to business units with a weak position with a strong market.
Normally they will need cash cows to boost their growth, however, the investment is most likely
to fail to generate high returns not until the business accomplishes a resilient position.

Using this tool, the company can evaluate where the business currently fits through assessment
of competitiveness depending on its ability to protect a profitable position shortly concerning certain
factors such as size, technological position, brand image, intellectual property, market share, margin,
reputation, and profitability. The main idea behind this growth matrix is that within all the four
quadrants each entails a different investment profile in regards to the returns they produce.
Recommendations
The company should review the cost of their products as currently, their only target market is
the upper-middle and higher classes making the cost of the products high to generate the revenue to
meet the costs of the stores and other expenses. reducing the cost rates will make them closer to their
competitors. This will ensure that the people from the lower classes and minimum income and are
interested be able to afford the products. If a strategy to cut down the costs is made a large number of
customers can be able to get the products resulting in more sales. Incorporating a cheaper cost strategy
returning and permanent customers will be achieved. Additionally, the customer will be able to
recommend other members such as family, friends, and relatives on where to buy get the same
products.
The company has to look into embracing the rapidly changing and new technologies to enhance
production and the automation running of the organization. Failure to amend these changes will result
in not being able to meet the changing needs of their clients. Promotion strategies such as coupons,
prizes, and lucky draw schemes should be introduced to entice more customers to their products. This
can be achieved by involving children and teenagers in these activities. Additionally, the company can
get involves in other diverse products such as baking and making of juices and shakes that make a
broader variety of products available to the customers. Such products can be sold to the clients while
they are around the stores shopping as they wait or rather packaged for taking away. This would also
give the customer a perspective of the creativity the company possesses.
The company also needs to take part in activities that show incorporation with the surrounding
communities. Special events such as hosting local sports, convocations, and charity work sponsorship
would result in portraying a good image of the company to their clients.