Workshop Residence Operations Plan

Collection
Design Strategy (MBA) | Design Division

Course
Fall 2015Operations & SystemsTimothy SmithDSMBA-620-01
Final project
Student(s)
Alida Draudt, Leticia Murray, Voraporn Kwan Komain, Zoé Bezpalko
Description
Recommendation for an operational strategy that allows Workshop Residence to turn a profit for the first time since their founding.

The Workshop Residence team is dedicated to furthering the exposure of local artists and craftsmen as a studio space and retail outlet, workshop host and event space. Although the team is dedicated to local artistry betterment, Workshop Residence also strives to become a thriving part of the local economy. Since its founding, Workshop Residence’s altruistic nature has supported featured artists no matter the cost. Moving forward, however, necessitates the establishment of profitable business practices across all three tiers of their offering: local artist retail, workshops, and events. We believe focusing efforts toward a structured retail strategy will assist greatly in improving Workshop Residence’s profit margins. Combined with a structured financial model and inventory tracking system, Workshop Residence has clear opportunity to move into profitable operation. 

The DMBA student team consisting of Zoé Bezpalko, Leticia Murray, Kwan Komain, and Alida Draudt will consult on one main initiative comprised of three smaller components. The overarching initiative is to recommend an operational strategy that allows Workshop Residence to turn a profit for the first time since their founding. In order to recommend such a strategy, the DMBA student team has analyzed current and potential business models for best operational fit, align operations strategically to help Workshop Residence become profitable, and create a plan for financial streamlining and implementation in order to make the goal of profitability a reality.

Project involves a Mutual Confidentiality and Nondisclosure Agreement with a client.

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