Managing small and Medium Enterprises Year 3 Essay

Managing sm every and Medium Enterprises Year 3 - Essay Examplefirst principle Toys is now penchant to expand business to four major Australian cities named Sydney (city of 4.6 cardinal residents), Melbourne (city of 4 billion residents), Perth (city of 1.7 million residents) and Adelaide (city of 1.2 million residents). The company knows that there are more than 2.9 million 65-years old and above citizens crosswise Australia (CIA Fact Book, 2010), whereas the population of senior citizens is much higher if company includes citizens of 55-years and above. For instance, the individualistic cultural values in Australia have sidelined old citizens who are normally sent to old and elder care houses or corporation centres. Whereas, a large majority of those who live with their families do not receive sufficient attention overdue to busy working life of family members (BJ, 1993) (Parson, 1993) (McIntosh & Phillip, 2003).Therefore, there is immense potential in expanding business of s enior citizens toys, instruments and games across Australia. Policy-makers have expressed the importance and benefits of market development, thereby forecasted first year sales (April 1, 2011 March 31, 2012) from all operations will be between $0.3 million in Sydney, $0.3 million in Melbourne (April 1, 2012 March 31, 2013), $0.2 million in Perth (April 1, 2013 March 31, 2014) and $0.2 million in Adelaide (April 1, 2013 March 31, 2014). The company has planned to inaugurate 3 outlets (one aft(prenominal) another) in Sydney followed by spring of 3 outlets (one-by-one) in Melbourne besides distribution operations while 2 outlets will be opened in Perth and Adelaide each. However, the success of first outlet is a prerequisite for opening new stores in these new markets.ABC Toys (hypothetical), which was inaugurated in 2006 masters in production and selling of toys, exercise games and instruments for infants (6 months 3 years), tweens (3 - 12 years), teens (12 16 years) and sen ior citizens (65