Business Plan - uni-graz.at

University of Graz - RESOWI Center

Institute for Business Education and Development

Universitätsstraße 15-G1

8010 Graz

AUSTRIA

Business Plan

Summer Semester 2018

Status: June 2018

eXpand your opportunities C:\Daten Riebenbauer\ÜFA\eXpand SoSe 2018\Business Plan_eXpand_SS2018_Version 29.06.2018.docx

Table of Content

1 INTRODUCTION ......................................................................................................................................... 1

A PEDAGOGICAL PART .................................................................................................................................. 2

1 THE MODEL OF A PRACTICE FIRM .............................................................................................................. 2

1.1 PRINCIPLES ................................................................................................................................................... 3 1.1.1 TQM ................................................................................................................................................. 3 1.1.2 Practice firm Economy ..................................................................................................................... 4 1.1.3 Data Modelling (the Red House) ..................................................................................................... 4

1.2 ORGANISATION ............................................................................................................................................. 5 1.2.1 Structure of eXpand ......................................................................................................................... 5 1.2.2 Profit Center .................................................................................................................................... 6 1.2.3 Business Part ................................................................................................................................... 6 1.2.4 Pedagogical Part ............................................................................................................................. 7 1.2.5 Internal Process ............................................................................................................................... 8

2 PROJECTS .................................................................................................................................................. 8

3 EXPAND EVENTS ........................................................................................................................................ 9

3.1 ONLINE TRADING DAY .................................................................................................................................... 9 3.2 INFORMATION DAY ...................................................................................................................................... 10 3.3 PF FAIR IN DORNBIRN .................................................................................................................................. 10

B BUSINESS PART ....................................................................................................................................... 11

1 EXECUTIVE SUMMARY............................................................................................................................. 11

2 MISSION STATEMENT .............................................................................................................................. 11

3 THE COMPANY ........................................................................................................................................ 13

4 THE MARKET OF EXPAND ........................................................................................................................ 13

4.1 MAIN COMPETITORS ON THE AUSTRIAN MARKET .............................................................................................. 13 4.2 TARGET MARKET ......................................................................................................................................... 14 4.3 MASS MAILING ........................................................................................................................................... 14

4.3.1 Profit Center .................................................................................................................................. 15 4.4 MARKET SEGMENTATION .............................................................................................................................. 15

5 CORPORATE STRUCTURE ......................................................................................................................... 15

5.1 ACCOUNTANCY ............................................................................................................................................ 15 5.2 CONSULTING & SALES .................................................................................................................................. 17 5.3 LEARNING POINT ......................................................................................................................................... 18 5.4 MARKETING................................................................................................................................................ 19 5.5 MONITORING AND SUPPORT .......................................................................................................................... 20 5.6 PROFIT CENTER ........................................................................................................................................... 21

6 EMPLOYEES ............................................................................................................................................. 23

7 MARKET PORTFOLIO ............................................................................................................................... 24

7.1 CURRENT SERVICES OF EXPAND ....................................................................................................................... 24 7.2 INTERNATIONAL MARKET ANALYSES ................................................................................................................ 24

7.2.1 Specific Advantage of Competitive Products ................................................................................. 25 7.3 CONSULTING SERVICES ................................................................................................................................. 25

7.3.1 Business Analysis ........................................................................................................................... 25


7.3.2 Marketing Strategy ....................................................................................................................... 25 7.3.3 Social Media .................................................................................................................................. 26 7.3.4 E-Business ...................................................................................................................................... 26 7.3.5 Online Special ................................................................................................................................ 26 7.3.6 Consulting Special ......................................................................................................................... 26 7.3.7 Marketing Special .......................................................................................................................... 26 7.3.8 US Special ...................................................................................................................................... 26

8 FINANCIAL REPORT.................................................................................................................................. 28

8.1 BALANCE SHEET 31.05.2018 ........................................................................................................................ 28 8.2 PROFIT AND LOSS STATEMENT 31.05.2018 ..................................................................................................... 29 8.3 GENERAL PRINCIPLES .................................................................................................................................... 30

8.3.1 Comments on the Balance Sheet ................................................................................................... 30 8.3.2 Comments on the Profit and Loss Statement ................................................................................ 32


1

1 Introduction

The practice firm eXpand International Consultancy GmbH was founded in 2004. The

foundation team led by Mrs Riebenbauer and Mr Fink established the concept at the

beginning of the summer term 2004. This foundation was necessary due to an increased

number of students. eXpand is run as a practice firm at the Department of Business Education

and Development at the University of Graz.

Depending on the number of students during a term eXpand runs as a regular practice firm or

a profit centre. In case there are not enough students eXpand will be continued as a profit

centre where the most important tasks of the practice firm will be implemented in the profit

centre to keep the business running while KFUNIline takes over the tasks which do not have

to be done by eXpand itself.

This business plan helps getting an insight of the company and is an instrument for modelling

a practice firm in a pedagogical and operational way. It is not a typical business plan as it shows

in detail what happens behind the scenes of the company and what keeps it running.

Therefore, this business plan is divided into two parts:

The first section is the pedagogical part of eXpand, which explains how the model of a practice

firm works. It contains a description of the internal process and gives an overview on how the

departments and processes of eXpand work together. At the end of the section a description

of current events and pedagogical projects which are organised by the eXpand can be find.

The second section focuses on the business part. This section is very similar to a real business

plan because you can find information about the strategy, the products and the financial

statement of eXpand.


2

A Pedagogical Part

1 The Model of a Practice firm

The following model should help you to understand the different levels within eXpand

International Consultancy GmbH.

The red house represents the business side of the company eXpand where all students do

their daily business.

Within the learning side students are required to plan, execute, judge and pursue the work

and business on their own. The method practice firm provides a safe and secure learning

environment and leads to the development of skills and competences that assist students in

the process of becoming highly employable.

The meta-level 1 demonstrates the model of how a practice firm is organised. There are

different instruments that must be considered when you design an economically valid model

of a practice firm.

The meta-level 2 trains the students in leading a practice firm as a teacher. In this case, the

students learn how to form an optimal practice firm regarding their future jobs in which they

must manage a practice firm in school.

Meta-level 1 Formingthemodel

Business side

Meta-level 2

planning

judging

executing

Learning side

purposin

g

Leading the practice firm as a

teacher


3

1.1 Principles

This chapter explains the basic principles of being a member of eXpand according to TQM and

Data Modelling.

1.1.1 TQM

eXpand is a place of working and learning for students as well as for the management.

Continuous improvement is an important issue. The mission statement of eXpand

demonstrates the following:

The practice firm's principles are based on Total Quality Management principles that pervade

all processes and departments to establish the basis for further development of the practice

firm, especially the improvement of communication between all members. An important tool

for continuous improvement is the Deming Cycle which suggests a continuous cycle of plan,

do, check and act.

Within eXpand students should plan their actions, then carry the planned action out. In the

next steps they should reflect what they have done, how it was done and what can be

improved. Therefore, all departments must plan their aims at the beginning of the semester

and write the aims down in an aim sheet. This helps the students to focus on their aims and

control the realisation. Beside the desired aim, time management and responsibility for

realisation also must be written down. During the semester, it is possible to change or add

aims, time management and responsibility. Thus, the aim sheet leaves room for flexibility.

Measurement categories must be considered in order to find out if the aims were achieved or

not. It is also advisable to mention, why it was not possible to realise a particular aim.


4

1.1.2 Practice firm Economy

Similar to a real market there is a practice firm market and a practice firm economy. The

simulated market consists of lots of practice firms at schools/universities worldwide and

official offices like ACT in Austria.

ACT is an office which simulates the national Revenue Office, the Health Insurance Company

and other authorities which are essential in a real market. It is extremely important to keep in

mind that products/services and also the money for trading is fictitious within the practice

firm economy. This means that this economy depends on the willingness of all practice firms

to buy and sell as many products/services as possible on the practice firm market. This is the

reason why one important principle of eXpand is to buy all needed products on that market

and not to simulate invoices because each practice firm is responsible for stimulating and

enriching the practice firm market. Only if the practice firm market does not offer a required

product/service eXpand simulates an invoice but this is a measure which should not be taken

too often.

Be careful regarding reality and fiction. In addition, every practice firm needs some real

products and services at the real market, e.g. office equipment and office materials. Since a

university is a public institution we have to take the economic situation into consideration and

therefore look after our equipment and use the available money and material efficiently.

1.1.3 Data Modelling (the Red House)

There are five different ways of modelling a practice firm (the so-called red house):

You can model your practice firm according to a real company in real life.

You can use a business model to model your practice firm.

You can use industry key figures for modelling your practice firm.

You can use the business plan as an instrument for modelling.

You can use a combination of the business plan and some key figures.

eXpand has no partner company. It works with key figures and the business plan (see point B:

The business side of eXpand). As a result, benchmarking can be seen as a modelling method

for eXpand. Various banks provided some key figures. Different relevant figures for the

company were picked out and adapted to the practice firm market. This is necessary as the

practice firm market is not fully comparable to a real market. Based on the selected figures

eXpand can set up aims, make decisions and try to find efficient ways to reach them.

To be authentic, eXpand pays particular attention to expenses. As eXpand acts on a practice

firm market, employees have to search for different expenses, automatically debited on a real


5

market when going into business. Real companies cannot exist without electricity, water or

toilet paper. This means that a practice firm cannot exist without these things - but in a

fictional way. Therefore, things must be bought on the practice firm market and only if there

is no chance getting them on the practice firm market, simulations should be done. It is

important to make sure that eXpand is debited for things it would be debited for in real

business. The best solution regarding this kind of challenge is to find companies on the practice

firm market offering the things needed. Only if there is no chance getting them on the practice

firm market, eXpand simulates invoices.

1.2 Organisation

eXpand is a simulated business, a virtual enterprise and a complex learning environment. On

one hand there is the business side where the students learn within departments/processes

the basic concepts of an organisation. On the other hand, students practice reflection and

think about learning and development processes within eXpand with the help of the process

Learning Point. By describing the organisation eXpand there is the need to distinguish eXpand

being run as a complete organisation or as a profit center. This usually depends on the number

of applications or the decision of the management each term.

1.2.1 Structure of eXpand

The organisation consists of three processes namely Consulting & Sales, Learning Point and

Management. Our three departments are Marketing, Monitoring & Support and Accounting.

As you can see in the illustration below, they support each other and work together to ensure

a smooth running of business.


6

1.2.2 Profit Center

If eXpand is not being run full size it still consists of the same processes and departments. The

main difference is that just key tasks are done by eXpand. The main goal is to keep the business

of eXpand running. A lot of tasks are outsourced to the second practice firm of the University

of Graz. Therefore a close and good cooperation with the KFUNIline is necessary.

1.2.3 Business Part

Management

Marketing

Accountancy

Consulting & Sales

Monitoring & Support

Learning Point

Compared to a real business the company organisation structure of the practice firm is the

same. A special activity undertaken by the process Monitoring & Support is modelling. The

members of this department simulate invoices if necessary and monitor the market and the

continual improvement of the eXpand model. These duties are important because a practice

firm should be adapted to real conditions on the market.

Accountancy is responsible for the book keeping. They book incoming invoices by using BMD,

do the controlling report and complete the annual/half-annual financial statement.

Consulting & Sales and Marketing develop the products and services that are offered by

eXpand. The members of this department and process learn how to make market analyses,

how to market the products themselves and how to position the company’s product

programme within the practice firm economy. In contrast to a typical practice firm eXpand

does not only offer fictious products. When ordering the Marketing Special or a market

analysis, the customer gets a real market analysis in combination with the order confirmation.

It is not a rule to offer real products, but it is eXpand’s underlying principle to stand out against

a practice firm run at a school.


7

1.2.4 Pedagogical Part

eXpand is a place of working and learning for students as well as for teachers. The strategy of

the management is to explore the practice firm as a teaching and learning method and to

show and experience how to design and lead a practice firm. Therefore, we as students move

through the whole learning process without too much instruction but self-responsibility.

Instead of viewing ourselves as the only source of information or knowledge, we as teachers

need to act as a moderator and coach.

Modelling is a key task for practice firm teachers. Students must take three different

perspectives, first as employees, second as students and finally the meta-level perspective in

which everyone takes the view of a teacher. In order to switch between these perspectives

and to eXpand our view we discuss practice firm related literature. These measures are taken

to develop practice firm literacy and enable the students to model their own practice firm in

the future.

Learning Point represents a special process within the company eXpand. Learning Point offers

methods to the other students in order to understand the model practice firm better. The

focus is on the practice firm as a place of learning, the role of a teacher in the practice firm

and total quality management (TQM).

Besides their departments/processes students also work in special pedagogical projects each

semester. In this semester the competence-management-project is such a pedagogical

project. A tool is build up where practice firm students can evaluate their competences as well

as assess the own and other improvements.

As a special highlight also learning in other practice firms outside the university is possible

when students are visiting a practise firm lesson in school or are part of practice firm fairs all

over the world.


8

1.2.5 Internal Process

The following graph shows the internal processes within eXpand. You can see how the

departments and processes in eXpand must work together, how communication flows and

how information is provided.

2 Projects

These trans-sectoral projects focus on the role of a teacher in a practice firm. They vary from

term to term.

In winter term 2016/2017, the departments and processes of KFUNIline had to find different

competences needed within their tasks. Afterwards they had to define different can-

descriptions to ease the comprehension of these competences.

In summer term 2017, the descriptions were broadened and improved, a significant

performance was added. Afterwards a comprehensive selection of priority 1 competences was

made. According to the competence catalogue it is possible to deduct different tasks so that

students can improve their skills independently. This catalogue of competences can be used

Orders per Email/Post/Webshop

Requests

Market analysis per mail

Order confirmation per E-Mail

New Program/Order form

Information to customers per Mass mailing,

Homepage, E-Mail/Post

ok

Check Orders

Readability, Completeness

Partly ok

Recheck with PF

Presentation in Meeting

Refusal

Rework

Evaluation

Acceptance

Consulting& Sales

Consulting& Sales

Accounting Writing of invoices,

send per post

Bookkeeping (BMD)

Payments not in time

Tops/Flops Trends/News

Learning Point

Reminders

Payments in time

Monitoring/Marketing

Up-do-date

- Bank account - Controlling report - Sales tax summary

report - Financial statement

- TQM - Handling Applications - Feedback Methods - Support with checklists

Monthly pay roll

- PF Fair - Modelling - Administration

Invoices, Salary

Taxes, Invoices, Salary

WORKFLOW SALES PROCESS


9

by teachers within their lessons. The focus was to continue the design of a competence

catalogue to support process of measuring competences (“Kompetenzkatalog”).

In winter term 2017/2018 data from the last semesters was integrated in an excel tool. Also

graphs where programmed as a visual support. The focus was on one hand to collect teacher-

competences. Therefore, the students asked the teachers about important teaching

competences during their ÜFA-visits. On the other hand, we created a tool with excel, where

pupils can evaluate themselves and each other’s at the beginning of the semester and in the

end of it. So, the pupils can see their progress and improvement.

In summer term 2018 situations were found were these competences can be improved within

the practice firm. The competence tool is also used as a part of the assessment of the semester

the first time.

The aim of the teacher’s competence matrix is to create on overview of needed competences

pointed out by practice firm teachers during the obligatory school practice firm visit. Also

included key competences of practice firm teachers mentioned in pedagogical literature.

3 eXpand Events

Beside the projects, eXpand also tries to get in contact with other practice firms all over the

world and work to preserve good reputation for the whole company. Two events that are very

important for eXpand are the Online Trading Day (OTD) and the Practice Firm Information

Evening (IE) for future members of eXpand. These events can also be recommended for

teachers in school. Participating at the Online Trading Day is highly recommended due to the

fact, that students receive the chance to get in contact with different practice firms all over

the world.

3.1 Online Trading Day

The Online Trading Day (OTD) takes place once per semester, usually in November in winter

term and March in summer term. As these sessions are being organized from USA. Hence,

they occur between 5.00 p.m. and 6.00 p.m. CET. There are at most 10 practice firms per

session in the same meeting. Most other presenting practice firms are from the United States.

Each PF has three minutes to present the company and the products. The presentation

includes a short overview of eXpand, the location of Graz on the world map, the presenters,

what products are on offer and how can they be found at our web shop. After the

presentations there are about 2 minutes reserved for discussions and questions from other

PF. You should also actively participate in all other discussions. Trading starts after


10

presentation, where you can purchase from other PF. Unfortunately, no Online Trading Day

was carried out in summer term 2018.

3.2 Information Day

On May 8th, 2018 at 3:00 p.m. the practice firm information day took place. All students who

wished to work for KFUNIline or eXpand in the winter term 2018/19 were invited. The two

practice firms, eXpand and KFUNIline, presented their businesses and informed future

members about all departments and processes. Furthermore, the requirements to attend one

of the practice firms were pointed out and an introduction to the application process was

given as well. The information day ended with socializing. Food and drinks were provided by

the current practice firm members. At last, the Marketing department of eXpand gathered

feedback from all participants. Feedbacks were reflected later on.

3.3 PF Fair in Dornbirn

In November 2018 the two practice firms KFUNIline and eXpand will take part at the Practice

Firm Fair in Dornbirn. Three countries combine their forces for a unique event: The 1st

European Practice Enterprise Trade Fair is a joint initiative of the Central Offices of Germany,

Austria and Switzerland, whereas at least 250 exhibitors from over 20 countries and more than

10,000 visitors are expected. It will be a memorable experience for all who attend and a forum

for international trade and intercultural exchange. Therefore, the Marketing department

coordinates with Corporate Support from KFUNIline to organise this event with the support of

the members of the two practice firms.


11

B Business part

1 Executive summary

eXpand International Consultancy GmbH is an innovative and English-speaking practice firm

located at the University of Graz. The target groups are practice firms all over the world. We

support practice firms in becoming international and we are working in two high-quality fields

of consulting:

1) Consulting services

We support other companies by helping them to improve their business and their

position on the market. Therefore, we provide various consulting services.

2) International market analyses

We prepare and interpret current market data for many countries in order to help

other companies in becoming international.

2 Mission statement

Status: June 2018

Our main goal is to support other practice firms in eXpanding successfully their

opportunities on the national and international practice firm market by creating customised

consulting and market research solutions for them.

eXpand– What are we doing?

Our main aim is to be an English speaking partner on the national and international practice

firm market. We provide individual consulting services and international market analyses to

practice firms all over the world. We offer up-to-date and high quality solutions for strategic

management decisions.

True to the motto: eXpand your opportunities and be the next practice firm to grow!

eXpand– How are we working?

We appreciate and pursue total quality management. We take time to stop and reflect on our

interactions, collaborations, client engagements and workflows to improve the quality of our

processes. We invest in individual, pedagogical and organisational learning in order to support

innovative practice firm’s processes and techniques.


12

To order to eXpand our opportunities, we make sure that we work as a strong team. Every

employee constantly puts the most effort into every task to maximise the output while

minimising the costs. To keep high quality standard of our processes we have regular business

meetings and discussions on our daily business. A valid business model of eXpand is a central

demand for working and learning within the practice firm.

eXpand– How do we learn?

We also have the opportunity to attend on the meta level of practice firms business and have

a look on the pedagogical point of view. Learning Point offers methods to other students in

order to understand the model practice firm better. The focus is on the practice firm as a place

of learning, the role of a teacher in the practice firm and total quality management (TQM).

In our pedagogical meetings the centre of our interest is to understand the model of practice

firm better and support all students in improving their teaching competences. On top of that

Marketing, Accounting, Consulting and Sales and Monitoring and Support try to improve their

capabilities supported by Learning Point trough learning on the job in the pedagogical

meetings.

eXpand – How are we learning to teach?

eXpand is a place of working and learning for students as well as for teachers. The strategy of

the management is to explore the practice firm as a teaching and learning method and to

show and experience how to design and lead a practice firm. Therefore, we as students move

through the whole learning process without any instructions but self-responsibility. Instead of

viewing ourselves as the only source of information or knowledge, we as teachers need to act

as a moderator and coach.

Modelling is a key task for practice firm teachers. Students must take three different

perspectives - first as employee, second as students and finally the meta-level perspective in

which everyone takes the view of a teacher. In order to switch between these perspectives

and to eXpand our view we discuss practice firm related literature. These measures are taken

to develop practice firm literacy and enable the students to model their own practice firm in

the future.

Furthermore, our aim is to implement and improve our competence management tool and to

provide a substantial contribution to this intention for participating students and practice firm

teachers.


13

3 The Company Legal description: GmbH

Foundation Date: 21stApril 2004

Address: eXpand International Consultancy GmbH

Universitätsstraße 15

8010 Graz

AUSTRIA

Contact: Tel.: +43-316-380-3537

Fax: +43-316-380-9571

email: [email protected]

https://wirtschaftspaedagogik.uni-

graz.at/de/expand/

4 The market of eXpand

eXpand is one of about 900 currently active practice firms in Austria. Austria is one of the

largest practice firm markets in the world. Most practice firms in Austria operate in the

trading-sector. The majority trades with computers, security systems, sports articles, office

equipment and food. The second largest sector is the service sector which presents almost

20% of all Austrian practice firms. The most common services offered are software consulting,

catering services, hardware consulting as well as adult education. eXpand provides consulting

services and market analyses.

4.1 Main Competitors on the Austrian Market

This small sub chapter shows our main competitors on the Austrian market according to the

ACT query.1

1www.act.at, 19.06.2017

mailto:[email protected]

https://wirtschaftspaedagogik.uni-graz.at/de/expand/

https://wirtschaftspaedagogik.uni-graz.at/de/expand/


14

Field: “Dienstleistungen – Markt- und Meinungsforschung”

Firmenname Adresse PLZ Ort

Schoolpark Software & Research GmbH Pernerstorfergasse 77 1100 Wien

Field: “Dienstleistungen – Unternehmensberatung”

Firmenname Adresse PLZ Ort

BHV PR-Advertising Werbe- und

Marktforschung GmbH

Franz-Jonas-Straße

13-15 8570 Voitsberg

Perfect Control EDV-GmbH Otto-Glöckel-Straße 6 3950 Gmünd

IT-Solutions4You GmbH Meierhofplatz 1 7423 Pinkafeld

Maximum Success Personalmanagement

GmbH Kriehubergasse 24-26 1050 Wien

4.2 Target Market

The main target group of eXpand since the beginning of its existence were practice firms in

Austria and English-speaking countries all over the world. Over the years customers in new

areas could be reached through international events like the practice firm fair in Dornbirn.

Now eXpand can count practice firms from Germany, Turkey and Belgium to its customers as

well. The target market could be reached with advertising, special product flyer, web shop,

postal mailing for the Austrian market and specific mass e-mailing to other countries e.g.

Romania. The Austrian practice firms are highly interested in eXpands products and it has

already been managed to earn a good reputation on the Austrian market.

4.3 Mass Mailing

There are two kinds of mass mailing that can be defined. The first one is the mass mailing via

postal mailing and is organized by the old “pandas” for the new generation. The postal mass

mailing consists of three documents and is sent to all the practice firms in Austria. The first

document is an information paper of our sponsors. The second document is the current

product folder and an information letter is the third document. The second mass mailing is

done via e-mail. This e-mail will be sent to practice firms on especially focused practice firm


15

markets e.g. Romania and USA. The market depends on the available data of the target

market.

4.3.1 Profit Center

If the eXpand is run as a profit center the mass mailing is only sent to Styria, Carinthia and

Vienna. All documents stay the same as in the full company.

4.4 Market Segmentation

eXpands customers are practice firms all over the world who want to find a reliable partner.

eXpand is interested in the international market, therefore our clients are scattered all over

the world. Above all, we are trying to find new customers in countries where English is used

as working language.

5 Corporate Structure

5.1 Accountancy

The accountancy department of eXpand is responsible for all financial businesses. This means

that the accountancy department deals with the daily business such as incoming invoices as

well as with monthly tasks like payroll activities or controlling reports. Furthermore, the

accountancy department is responsible for the communication with the finance office and

processing the social insurance tasks. At the end of each term, the accountancy department

is creating a financial statement or an interim financial statement.

In order to ensure that everything runs smoothly within the accountancy department, it is

important to work as a team within the department as well as all together with other

departments and processes of eXpand. There is a close cooperation especially with Monitoring

& Support, which is responsible for purchases and simulations and with Consulting & Sales,

which is responsible for processing orders. In addition, the process Learning Point is preparing

the payroll activities for the accountancy department.

Job summary

Working in the accountancy department means that you will have to work in a team, work

accurately with figures and have a good time management.


16

Duties and Responsibilities

Daily

Process incoming invoices

Bank-related bookings (ACT and Raika)

Ongoing bookkeeping

Communication with authorities

Monthly work

Controlling reports

VAT

o Deal with finance office (forms and payment)

o Do relevant bookings in BMD

Payroll activities

o Deal with social insurance (forms and payment)

o Deal with finance office (payroll tax)

o Pay employees (ACT)

o Do relevant bookings in BMD

Semester

Preparation of the annual report

Budget planning

Financial Statement

o Depreciation

o Accruals

o Validation of receivables

Corporate income tax

o Reconciliation of book and taxable income

o Prepare Value Added Tax and Corporate Income Tax statement at the end of

the fiscal year

Targets

Provide a true and fair view of assets, financial and profit position

Support the management and the other departments in their decision-making

processes

Always work accurately and on time

http://www.dict.cc/englisch-deutsch/reconciliation.html

http://www.dict.cc/englisch-deutsch/of.html

http://www.dict.cc/englisch-deutsch/book.html

http://www.dict.cc/englisch-deutsch/and.html

http://www.dict.cc/englisch-deutsch/taxable.html

http://www.dict.cc/englisch-deutsch/income.html


17

5.2 Consulting & Sales

The aim of this process is to stay in contact with our customers and fulfil all customer needs

regarding the purchase of one of the offered products. The main responsibilities are the

handling of the incoming orders (order confirmation, delivery note, invoices) as fast as

possible according to a good business relationship with all stakeholders, the adaption of the

product portfolio aligned with the customers’ needs and further development of the products.

The members of the process try to recognise changes within the market, to be flexible to

customers' changing needs and to provide products that are up to date. This fact also

influences the special offer which has to be created by the members of the consulting process.

It heavily relies on the competence of the members of the process to recognize what the

customers really want.

This process offers two product categories Market Analysis and Consulting Services. The

uniqueness of the Market Analysis sector is that the process sells real market analyses to the

customers and tries to meet the customers' needs when choosing the next market to analyse.

Job summary

The process Consulting & Sales deals with incoming orders of the customers and creates

real market analyses. Further duties are the improvement of the order form, the product

folder and the diversification of the product range.


Customer contact

Adjusting the product portfolio

Creating real market analyses and/or guidelines for success

Writing order confirmations for incoming orders in BMD

Sending order confirmations together with ordered market analysis per mail to the

customers

Sending invoices per post to the customers

Sending reminders

Adapting product range and creating new special offers

Changing order form and product folder to fit to the actual product range and

product prices

Keeping market analyses up to date


18

Targets

Provide our customers with profound consulting services and informative market

analyses to support their internationalisation process

Fulfil customers’ needs through adapting our product program accordingly

Satisfy our customers by confirming and delivering their orders as soon as possible

5.3 Learning Point

eXpand is a practice firm on university. On one hand you should get to know the whole

practice firm from a business side and on the other hand from a learning side. Therefore, it is

the main goal of Learning Point to ensure the maximum output of the learning processes.

Furthermore, Learning Point has to emphasise the competence-oriented method practice

firm. This means that Learning Point supports all practice firm members in doing reflection-

based learning. Learning Point offers options to practise reflection and to think about learning

and development processes within eXpand. The aim is to get a feeling of the benefit of

reflection.

Job summary

The main tasks of Learning Point are to organise and to operate the complete PDCA cycle,

to live TQM and therefore, to motivate employees to take an active participation in the

continuous development process and to maintain a good atmosphere and communication

within eXpand. Additionally, Learning Point is responsible for the monthly payroll and the

competence-management-project.


Knowledge Management

Provide Information and guidelines

Operate Evaluation processes and feedback

Support application procedure

Maintain and improve teamwork

Responsibility of the monthly payroll

Payment of the social insurances via ACT

Organise and operate the complete PDCA cycle (Continuous improvement process)

Encourage reflection-based-learning

Citavi - PF literature


19

Business Report

Competence- management- project

Targets

Give regular transparent information and guidelines

Improve the TQM via PDCA, evaluation processes and feedback

Create a good atmosphere within the team

Correct and in time payment of wages, salaries and social insurance

Provide the team with interesting and relevant literature on PFs

Build up the competence tool in excel

5.4 Marketing

The Marketing department is responsible for the research of customers’ wishes, the handling

of public relations, customer services as well as for the corporate design, the corporate

communications and the marketing strategies. The department has to coordinate offers and

demands. Furthermore, they have to develop new ways to acquire new customers as well as

fostering the relationship with our sponsors by considering them at every contact with the

publicity and designing sponsoring folders. Other very important tasks are updating

information on the website of eXpand as well as informing future members about working

and learning within eXpand.

Job summary

The main responsibilities in the field of Marketing are the research of customers' wishes,

marketing strategies, fostering the relationship with our sponsors and the responsibility of

the website. The organisation of the Information Evening and the Online Trading Day are

also very important tasks for the next term.


Corporate Design and Communications (inside and outside visualisation, templates)

Event organisation (practice firm Information Evening, Online Trading Day, PF Fair)

Marketing strategies

Supporting eXpand’s internationalisation (Online Trading Day, Practice Firm Fair)

Collaboration with other departments and with KFUNIline

Finding new customers (tapping new potentials)

Public Relations (fostering relationship with our sponsors)

Updating the marketing part of expand’s Business Plan


20

Targets

Enhance customers’ awareness of eXpand’s product range

Provide up-to-date information to our customers

Foster eXpand’s corporate design and communications

Focus on service- and customer-orientation

5.5 Monitoring and Support

Monitoring and Support (MONI) is the heart of the company as it has links to nearly every

department/process. Since MONI is responsible for the administration and modelling of

eXpand the department is in touch with accountancy, consulting & sales and learning point all

the time. They cooperate with accountancy in all purchase related issues, with marketing

regarding the website and outside visualization and with consulting & sales concerning

incoming enquiries and questions to related products.

The main task of this department is the monitoring and modelling of the practice firm market.

That means that they have to observe the market and the practice firm system and make

realistic expanses. Purchase and simulation are important tasks as there have to be expenses

in relation to the model of the practice firm. Due to the fact that not everything can be

purchased on the PF market, simulation is a necessity. If it is possible all needed products

should be bought on market to stimulate and enrich the practice firm market. Simulations

should be only done if a required product/service isn’t offered on the market. In this case

Monitoring and Support has to create invoices on behalf of non-existing practice firms.

Another part of MONIs work is distributing the post and e-mails to other departments and

processes. Monitoring & Support also has to update the business plan. Furthermore, it is the

technical supporter in the practice firm and is responsible for the properly running hardware

as well as looking for office equipment and office organization.

Job summary

The work of MONI includes monitoring and modelling of the practice firm market. This has

to be done in order to reduce simulations and to enrich the market by purchasing relevant

products or services on the practice firm market. One important task is to send out the new

product portfolio to all Austrian practice firms at the end of the semester.

MONI is responsible for the organisation and administration of eXpand. These tasks include

mail and email administration, organisation and creation of lists and updates of the

templates, deposits and arranging required office equipment. Apart from that, there are

other various scopes of duties such as maintenance of technical equipment as well as giving


21

technical support, data backup, organisation and administration of the purchases made by

the staff.

MONI is responsible for updating the business plan and modelling of eXpand.


Keep the model of eXpand as realistic as possible

Make orders in relation to our earnings

Monitor of the PF market

Simulate orders if no practice firm offers the required goods

Update the website

Organise and administrate the staff purchases

Monthly data-saving

Deposit and arrange required office equipment

Distribute the mail and email

Give technical support

Update the Business plan

Targets

Efficiency - Creation of a high-quality work-environment for all departments

Speed - Ensuring the unhindered workflow

Communication anchor - Being the interface between all eXpand-departments

Support - Giving assistance on all IT- and technical-concerning topics

5.6 Profit Center

It could also be that eXpand is run as a profit center of KFUNIline if there were too few students

for both practice firms. In this case the main goal is to keep the business of eXpand running.

Therefore, the most important tasks were implemented and a good cooperation with the

KFUNIline is necessary.

Main Tasks if eXpand is a profit center of KFUNIline

Process incoming and outgoing invoices

Bank-related bookings (ACT and Raika)

Send reminders

Check web shop for incoming orders and deal with related credit card processes

Controlling reports

VAT

Payroll activities


22

Financial Statement

Corporate income tax

Write order confirmations for incoming orders in BMD

Adapt product range and create new special offers

Change order form and product folder to fit to the actual product range and product

prices

Responsible for monthly payroll in the excel sheet

ACT – social insurance (notify the „Beitragsnachweis” latest at the 15th of every

month)

Create and redesign the product range and product programme

Keep the model of eXpand as realistic as possible

Make orders in relation to our earnings

Simulate orders if no practice firm offers the required goods

Monthly data-saving

Distribute the mail and email

Cooperation with KFUNIline

Keep the ACT web shop up-to date

EuropenWebshop

Provide information and guidelines regarding moderation, taking minutes, feedback

methods etc.

Organise and operate the complete PDCA cycle (continuous improvement

processes)

Application process – suggestion to management & evaluation

Evaluation Schielleiten/ handing over/ Info Day

Feedback methods

Organise the Practice Firm-Info-Evening

Maintain and update the website

Organise and administrate the staff purchases

Deposit and arrange required office equipment

Give technical support


23

6 Employees

If the eXpand runs as a full company it depends to the sales how many employees we have.

The last semesters the eXpand was running as a profit center. Due to that we had less sales.

We only have one fulltime employee and one part-time employee.

Name Wagner Brigitte Michael Mittermaier

Address

Dorfweg 9

8010 Graz

Spindlergasse 18/7

8020 Graz

Salary (brutto) € 3.795,42 € 846,17

Social

Insurance

number

1423200271 1164020370

Working time Full time Part time

Employee/

Worker CEO Employee

Needed

qualification

Consolidated knowledge and

experience in managing a company

and assuming responsibility

Autonomous working on commercial

tasks


24

7 Market Portfolio

7.1 Current Services of expand

eXpand supports practice firms in becoming international and it works in two high-quality

fields of consulting:

International Market Analyses

Consulting Services

The central aim of the services is to support the customers in their decisions-making process

about the future strategy and positioning in the national and international markets. The clients

of eXpand save substantial time and costs by studying the prepared information of the market

analyses of eXpand. Continuous development of the internal organisation through long-term

consulting services of eXpand will guarantee a special strength in the market for practice firms.

In the following sections the two basic strategic business units will be explained in detail.

7.2 International Market Analyses

One of the basic tasks of the company is to offer special market analyses for customers.

eXpand collects, prepares and interprets current market data for defined industrialised

countries. This information is summarised in a compact form to support the international or

national expansion of the client’s companies and to help them make elaborate decisions.

At the moment the following market analyses are available:

All the products and services of eXpand are fictitious. As a special service for our customers

we offer real market analyses which are sent along the order confirmation via e-mail.

Members of the EU

Austria

Germany

Romania

Non-members of the EU

United States


25

7.2.1 Specific Advantage of Competitive Products

By conducting a market analysis, the customer will be able to answer questions such as:

What trends are emerging in the desired market?

What are the strengths and weaknesses of my business?

Does my concept fill a niche in the market?

What is the potential number of customers I can serve per year?

The market analysis can be used in a business plan, a feasibility study or a marketing plan. It

will help to analyse the market potential of an existing operation, an expansion or a new

development. Existing operators can use a market analysis to identify opportunities and

improve sales. The analysis can provide valuable information on market conditions to help

with the forecasting and budgeting. Through a careful analysis of the market the risks of a

business investment can be reduced.

With an individual market analysis of eXpand, the customers will have a substantial lead over

the main competitors!

7.3 Consulting Services

eXpand is offering the following different Consulting services at the moment:

7.3.1 Business Analysis

The business analysis gives an overview of the customer’s potential to be successful on the

market. eXpand analyses the customer’s company structure, products and services, the

qualification of the staff and the economic data, such as turnover, benefits, etc. On the basis

of the collected and analysed data eXpand creates a SWOT-profile to show the company’s

strengths, weaknesses, opportunities and threats. Due to the SWOT-profile it is possible to

analyse the potential of the products and services on the market.

7.3.2 Marketing Strategy

The Marketing Strategy gives an overview of the customer’s company potential to be

successful on the market. The existing Marketing strategy, the current Marketing activities

and the performance of the company’s brand are analysed. On this base, eXpand focus on the

conceptual framework of theory and practice of Marketing management to create a successful

Marketing Strategy.


26

7.3.3 Social Media

eXpand will give advice on how to create a successful and purposeful appearance on social

media platforms like Facebook, Twitter, Instagram or Pinterest. Therefore, eXpand analyses

the customer’s existing online appearance, concerning the social media concept,

advertisement as well as the posting related to the company. On the basis of these analyses

eXpand will show the potential for improvement for an optimal use. After the analyses of the

online appearance, eXpand will present the results during the video conference where the

customer has the opportunity to get in direct contact with the experts of eXpand.

7.3.4 E-Business

A lot has happened in the international field of trading during the last years. Therefore,

eXpand advises regarding trading in the world wide web. eXpand consults in establishing a

good appearance at a platform according to individual needs in the field of E-Procurement, E-

sales, B2B and B2C online platforms, M-Commerce and electronic banking. Furthermore,

eXpand will give an insight into the technological field of developing applications (Apps) and

how to offer special services for tablet, pc and smart phone users. This allows the customer

to expand its customer base with a perfect consulting service.

In addition, we offer four special offer packages:

7.3.5 Online Special

A package consisting of the social media consultation and E-Business consultation.

Customers could get this package for a special price of € 1,500.00.

7.3.6 Consulting Special

A package consisting of the Business Analysis Consulting and Marketing Strategy. Customers

could get this package for a special price of€ 2,800.00.

7.3.7 Marketing Special

A package consisting of the Marketing Strategy and the customer can choose two of our

market analyses (Austria, Germany, Romania and United States).


7.3.8 US Special

A special package for all our clients who want to enter the American market. You get a social

media consultation and a market analysis of USA.



27

7.3.8.1 Specific Advantage to Competitor Products

One of the most important things when leading a company is to know the company in detail.

Knowledge about the workflows in the company will increase with the individual consulting

services of eXpand. Consequently, the company will be able to strengthen its position on

existing markets or extend its position into new markets.


28

8 Financial Report This financial report has a look on the Balance Sheet and the Profit and Loss Statement.

8.1 Balance Sheet 31.05.2018


29

8.2 Profit and Loss Statement 31.05.2018


30

8.3 General principles

The Balance Sheet is based on Austrian law and fulfils the proper accounting principles. It is

therefore possible to show an accurate picture of the assets and the financial situation. The

principle of completeness was considered.

8.3.1 Comments on the Balance Sheet

Please find enclosed the comments on the balance sheet of 31.05.2018.

8.3.1.1 Comments on the liabilities

Comments on the liabilities include the nominal capital, the Balance Sheet Loss, the provisions

of liabilities and charges, trade creditors and other creditors.

8.3.1.2 Nominal capital

The nominal capital in 2017 is € 35.000. The company has three shareholders:

Dr. Elisabeth Riebenbauer cash deposit of € 12.000 34,29%

Dr. Michaela Stock cash deposit of € 12.000 34,29%

Gernot Dreisiebner BSc MSc MSc cash deposit of € 11.000 31,42%

8.3.1.3 Balance Sheet profit

The Balance Sheet Profit of 31.05.2018 is € 61.708,99.

8.3.1.4 Provisions of liabilities and charges

There were no provisions for liabilities at the beginning and the middle of the year. Any other

provisions had to be reversed.

8.3.1.5 Trade creditors

The amount of € 15.000 results due to the fact that by 31.05.2018 we decided to create a

freelancer invoice, to simulate the eXpand in a more realistic way. The invoices were paid

accurately by May 2018.

8.3.1.6 Other creditors

There are liabilities against other creditors of € 6.196,61 due to liabilities against finance

authority, health insurance, local government, staff and VAT of turnover.


31

8.3.1.7 Comments on the assets

Comments on the assets include fixed as well as current assets.

8.3.1.8 Fixed assets

At the end of May 2018 there were tangible assets of € 6.637,48. During 2018 office

equipment and IT machines were purchased in the amount of € 1.216,39.

8.3.1.9 Current assets

The current assets include trade debtors, cash assets and bank deposits. The liquid assets

amount to.

8.3.1.10 Trade debtors

Due to the bad payment behaviour of some customers, many reminders were sent out and

many of them were successful. By 31.05.2018 there are open receivables of € 39.544,20. All

debtors since December 2015 were depreciated. For the remaining debtors a general

provision of 10 % was created.

8.3.1.11 Cash assets and bank accounts

The company owns two ACT-Accounts and one account at the Raiffeisen bank which is not

active at the moment. In total there are cash assets of € 247.646,31 by the end of May 2018.

8.3.1.12 Accruals

There were no accruals made at the end of May 2018.


32

8.3.2 Comments on the Profit and Loss Statement

Please find enclosed the comments on the Profit and Loss Statement of 31.05.2018.

8.3.2.1 Operating Turnover

The net turnover from January to December 2017 is € 124.533,46.

The other operating earnings of € 330 derives from reminder charges.

8.3.2.2 Expenses

Comments on the expenses include personnel costs, depreciation and other operational

expenses.

8.3.2.3 Personnel costs

The total amount of personal costs for January to December 2017 is € 31.609,60.

8.3.2.4 Depreciation

The depreciation of tangible assets amounts of € 3146,78. The depreciation of the trade

debtors amounts of € 4.660,00.

8.3.2.5 Other operational expenses

The other operational expenses of € 21.610,07 consist of:

Maintenance € 3.780

running costs (Waste disposal, electricity, telephone, internet) € 2830,07

other expenses € 15.000,00

Documents

Business Plan - uni-graz.at