Institute of American-Sino Culture 5620 Wilbur Ave. , #214 Tarzana, CA 91356 (818) 609-9888 [email protected] com www. Bagoll. com Table of Contents Executive Summary4 Business Description and Vision5 Definition of the Market6 Description of the Products and Services7 Organization and Management8 Marketing and Sales Strategy9 Financial Management10 Appendices11 Executive Summary Business Description and Vision Institute of American-Sino Culture (IASC) was formed to offer a simple and convenient solution for American individuals to study directly through East China Normal University in Shanghai, China.
IASC provides an online distance learning program for Chinese and American people to learn about Chinese business, culture, government, as well as other subjects from experienced native speakers and experts. There are many misunderstandings and conflicts across the Pacific Ocean between China and the U. S.. Many of them are caused by poor communication skills and false information. IASC believes through our contribution to persons from both countries, an improved American-Sino relationship can be created and will be exceedingly beneficial to the individuals.
Our website name “Bagoll” is from the Chinese translation of “Ba Ge”, which means Mynah bird in English. Mynah birds like to “communicate”. The purpose of IASC is to facilitate communication between two countries and ultimately connect the United States and China through our multi-service channels. Eventually, we desire to use our services channels to benefit individuals and groups who have utilized our services. Our teams in both China and the U. S. focus on creating long term value for our customers by provide supreme guidance on the education services we offer.
You will benefit from accessing the right experts to obtain the ability to speak and understand mandarin Chinese effectively! Our core strengths are the quality of our instructors who are excellent in helping foreigners to learn Chinese, and the overall trip plan to study in China. Through us, you will obtain the right skills, knowledge and solutions for your future venture. Definition of the Market Definition of the MarketThis section should: * Describe your business industry and outlook. * Define the critical needs of your perceived or existing market. * Identify your target market. Provide a general profile of your targeted clients. * Describe what share of the market you currently have and/or anticipate. After reviewing this section the reader should know: * Basic information about the industry you operate in and the customer needs you are fulfilling. * The scope and share of your business market, as well as who your target customers are. The business industry of online learning has grown considerably and shows no signs of slowing down. The institute of sino-america wishes to create a new niche of international online learning through the successful and reputable Chinese University East Normal China University.
Chinese Economy China is now the world’s second largest economy after the United States. With an average growth of 10% for the past 30 years, it is the world’s fastest-growing major economy. China is also the largest exporter and second largest importer of goods in the world. In 2010, China surpassed $100 billion in forteing direct investment for the first time, and investment overseas by Chinese companies in non-financial sectors totaled $59 billion. China December FDI Growth Eases; 2010 FDI Passes $100 Bln Mark http://online. wsj. com/article/BT-CO-20110117-709010. tml As its role in world trade has steadily grown, its importance to the international economy has also increased apace. China’s foreign trade has grown faster than its GDP for the past 25 years. Chen, Baizhu; Yi Feng (Spring 2000). “Determinants of economic growth in China: Private enterprise, education, and openness”. China Economic Review (Elsevier Science) Online Learning Background: For the past seven years online enrollments have been growing substantially faster than overall higher education enrollments. Research shows that this trend will continue.
The evidence: Online enrollments have continued to grow at rates far in excess of the total higher education student population, with the most recent data demonstrating continued substantial growth. • Over 5. 6 million students were taking at least one online course during the fall 2009 term; an increase of nearly one million students over the number reported the previous year. • The twenty-one percent growth rate for online enrollments far exceeds the less than two percent growth of the overall higher education student population. • Nearly thirty percent of higher education students now take at least one course online.
How Many Students are Learning Online? For the seventh consecutive year the number of students taking at least one online course continued to expand at a rate far in excess of the growth of overall higher education enrollments. The most recent estimate, for fall 2009, shows an increase of twenty-one percent over fall 2008 to a total of 5. 6 million online students. The growth from 1. 6 million students taking at least one online course in fall 2002 to the 5. 6 million for fall 2009 translates into a compound annual growth rate of nineteen percent for this time period. For comparison, he overall higher education student body has grown at an annual rate of less than two percent during this same period – from 16. 6 million in fall 2002 to 19. 0 million for fall 2009. The increase of nearly one million students taking at least one online course represents the largest single year-to-year numeric increase recorded in the eight years of these reports. The percentage growth is not a record, however, but does approach the rates observed in the earliest years of our tracking. A growth of over twenty percent on the much larger base of students is remarkable. While Target Market
With Chinese business and economy booming more than ever, American news has been broadcasted and making it aware to the citizens of the United States of the importance of China to the world. Competitors/Market Share take chinese business course online http://www. echineselearning. com/ Based on a survey taken of ___ people, the keywords and phrases used to search in order to find a University in China from which to take online courses were compiled to form the following list: After using multiple search engines to search these phrases, we have concluded that the following companies would be our competition:
Because our company has found a niche that has no direct competition, we believe we will acquire 100% of the market share. This not only allows for a quick and stable growth, but also room for future expansion into other areas of online learning. Description of the Products and Services * Specifically describe all of your products and services. * Explain how your products and services are competitive. * If applicable, reference a picture or brochure of your products, which would be included in the plan? s appendix. After reviewing this section the reader should know: * Why you are in business. What your products and services are and how much they sell for. * How and why your products & services are competitive. Organization and Management Organization and ManagementThis section should: * Provide a description of how your company is organized as well as an organization chart, if available. * Describe the legal structure of your business (proprietorship, partnership, corporation, etc. ). * Identify necessary or special licenses and/or permits your business operates with. * Provide a brief bio description of key managers within the company.
After reviewing this section the reader should know: * The legal form of ownership for your business. * Who the leaders are in your business as well as their roles. * The general flow of operations within the firm. Marketing and Sales Strategy Marketing and Sales StrategyThis section should: * Identify and describe your market ? who your customers are and what the demand is for your products & services. * Describe your channels of distribution. * Explain your sales strategy, specific to pricing, promotion, products and place (4Ps).
After reviewing this section the reader should know: * Who your market is and how you will reach it. * How your company will apply pricing, promotion, product diversification and channel distribution to sell your products and services competitively. It is very evident that relationships with China are crucial to anyone wanting to be successful in the business field. The Institute of Sino-America has a main focus on the niche market for students wanting to gain general or specific knowledge of China, Chinese business, Chinese government, or other related fields.
We believe that students who are currently attending a University in the United States, as well as working adults looking to gain familiarity and understanding of China will be our target market. With the use of technology, we are able to bring the classroom to the comfort of their home by providing them the ease of online learning. The marketing and sales will be done in 3 general categories: Direct, Relational, and Advertisment. Direct Marketing Direct marketing will be done by setting up campus booths, having a fully functional website with a strong search result, and by mailing of fliers.
University and high school campuses often have events where companies and schools can visit and setup booths where the students can be provided with packets of information and have the availability to speak to someone directly with the company. This will be an important tool to get students thinking and talking about online learning through a reputable Chinese university. College students will learn that in addition to the courses they are taking, they have the option to supplement their inclass university coursework with online courses that may be transferable units to go towards their diploma.
In addition, having taken a specific course from a Chinese professor will provide for a great resume builder that will make their work applications stick out from other applicants. Knowledge of Chinese governent, culture, and business will put them at an advantage for their career. A fully functional website is very important to the success of Bagoll. com. It will have all of the information about the company, its operations, cost, and programs so that the potential students will feel comfortable knowing how the courses and program works. Also, the search engine ranking of the website is crucial to the marketing.
By doing research and surveys of keywords and phases, the web developer will know exactly how to implement them into the website to be a top search. Mailers are a very small aspect of the marketing. In an attempt to make a widespread name for Bagoll. com, we may choose to try a mailer to acquire new students. Relational Marketing Relationships with State Universities, Private Universities, Community Colleges, as well as private companies will be important for a consistent source of students. By establishing contracts to work together and provide the option to their students, they will bring more students.
Advertisement Advertisement will be a necessary tool to inform students of our services. Online universities are very well known about, however, the availability to take an international online course through a Chinese University is not. The options we may consider for advertisement are Facebook, Google Adwords, college campuses, magazines, newspapers, television, and radio. Facebook Facebook provides exposure to university students and allows for the opportunity to stir up a buzz about our online courses amongst the users on this social network.
The adversment opportunities have two options, either pay per click or impressions. Pay per click would seem best as we would only be paying for those who are actually interested. Google Adwords Google Adwords provides a way to advertise our website by using thousands of high-quality websites, news pages, and blogs that partner with google to display AdWords ads. Charges will only occur when someone clicks on the ad, not when it is displayed. A budget will be set for daily maximum allowed. College Campuses College campus advertisement nationwide can be done using a company such as newagemarketing-univ. om and collegemarketing. com who use a variety of ways to market to college campuses such as school-based wall media-college poster and flyering, campus newspapers and college evens to innovative web and direct marketing. Magazine/Newspapers Magazines and Newspapers will be used as a general exposure to mass audience. Magazines will include the current market for young adult T. V. /Radio Financial Management Financial ManagementThis section should include: * For a New Business o Estimate of start-up costs. o Projected balance sheet (1 year forward). o Projected income statement (1 year forward). Projected cash flow statement (12 months forward). * For an Existing Business o Balance sheets (last 3 years). o Income statements (last 3 years). o Cash flow statement (12 months). * If Applying for a Loan (in addition to the above) o Current personal financial statement on each principal. o Federal tax return for prior year. After reviewing this section the reader should: * Have a good understanding regarding the financial capacity and/or projections for your compa Appendices This section should include as attachments: •Company brochures •Resumes of key employees •List of business equipment Copies of press articles and advertisements (if available) •Pictures of your business location and products (optional) •Information supporting the growth of your industry and/or products (optional) •Key business agreements, such as lease, contracts, etc. (optional) New data released by the Bureau of Labor Statistics (BLS) last week reports that the seasonally adjusted unemployment rate for American adults with only a high school diploma and no college was 9. 7 percent for April 2011, up from 9. 5 percent in March. Additionally, the number of discouraged workers increased seven percent from the month prior, to nearly 1 million (989,000).
Lack of school or training is one of the main reasons cited for discouragement. Unemployment is consistently lowest among adults with a Bachelor’s degree or higher; in April 2011 the rate was 4. 5 percent. For adults wanting to get their degree and become more competitive in the job market, online education is often a popular option due to the flexibility it offers. “Demand for online programs continues to grow, with the majority of that interest coming from adults who want to increase their marketability in this economy,” said Carol Aslanian, adult education expert and Senior Vice President of Aslanian Market Research. In fact, the 2011 eLearners Index found that demand is highest for Bachelor’s and Master’s degrees, such as online MBA and nursing programs. Adults are getting the message loud and clear that if they want to recession-proof their career, they need a degree. ” According to research published last year by the Sloan Consortium, a nonprofit group that tracks the growth of online education, and based on the most recent data available, the online learning sector is growing at a rate significantly higher than the overall higher education student population – 21 percent compared to less than two percent.
This is due in large part to more adults seeking higher education online. A 2010 Noel-Levitz study found that 81 percent of online learners are over the age of 25. “For busy adults who are balancing multiple responsibilities, online classes are attractive because students are able to fit their coursework around their schedule,” continued Aslanian. The success of our economy depends on more Americans graduating from college, so it is encouraging to see more adults returning to get their degree. ” For more information about online degree programs, visit eLearners. com. About eLearners. com(R) Since 1999, eLearners. com has been successfully connecting students with a variety of accredited online colleges and universities which offer degree and certificate programs, specialized career training and online college courses. eLearners. om provides prospective students with a powerful search engine for finding thousands of online program offerings, as well as educational evaluation tools and financial aid resources. eLearners. com offers colleges and universities a low-cost, performance-based method to gain national exposure and increase enrollments in their programs. Visit eLearners. com to learn more. http://www. einnews. com/pr-news/411121-latest-bls-data-finds-increased-unemployment-rate-for-adults-without-a-degree