IT Head:Archy Ushan is studying Marketing at North South University. He will be handling IT department of Scissors & Needles. All the IT related issues and problems will be solved by him and he will make sure the technofixes we used here are updated.Managing DirectorSiam Al TahmidFinance HeadMujaffer and SarwarHR HeadZahir UddinMarketing HeadMd HasanIT HeadAbdur RazzakCEOMd Nasib AKhter
Assessment of riskA. Weakness:As it is a new company, we are hiring less workers. Be that as it may, becauseof this, most likely in up and coming days we need to confront issues, for example, lateconveyance, lack of staffs when there are more requests to cover. Also, the focused onindividuals don't know about this administration. So at first the request of the administration willbe low. There is no completion in the business because we are the first to come up in thisbusiness. As it is a new business, it will take time to gain the trust of the consumers andsuppliers. . Besides these the price of raw materials and Cloths are rising up sharply in the localmarket. Thus, our operational cost will also be higher and we may difficulties to run ourbusiness. Political and economic environment of our country also fluctuating and this will createhamper to our business. Political instability will create problem in our distribution and overallbusiness process.B. New Technologies:Technology is developing step by step. New technologies can create a greater advantage in our business. There are some latest technologies uses in foreign countries to develop business. So there will be new changes in hardware and different frameworks. On the off chance that we won't keep our gear and hardware redesigned, it will havean enormous effect business. C. Contingency Plan:Starting and running a business is an inherently risky practicebecause there is no guarantee that a new venture will attain profitability. Unforeseen events ordisasters can be especially harmful to a business. For example, a fire, earthquake or flood canmake it impossible to continue operating a business normally. A contingency plan is a businessdocument that lays out a course of action a business will take in response to future events. Inorder to face with uncertain events we have some contingency plan. We will make insurance forour business in case of any natural disasters occurs. If we face difficulties to operate our business
due to lack of experience in this sector, we will hire specialist’s people to run our business.Nowadays businesses are facing high competition in the market and it can create loss of ourmarket share. To recover this issue we will try to satisfy our customer by giving them fastdelivery service as well as good customer service, so that they can come over and over again. Wewill ensure effective promotion of our business through the mediums we have chosen.