Developing a Profitable Photography Business Based on System Engineering Principles & Processes
System engineering is a robust approach to the design, creation, and operation of systems. In simple terms, the approach consists of identification and quantification of system goals, creation of alternative system design concepts, performance of design trades, selection and implementation of the be...
| Main Author: | |
|---|---|
| Format: | Others |
| Published: |
Digital Commons at Loyola Marymount University and Loyola Law School
2010
|
| Subjects: | |
| Online Access: | https://digitalcommons.lmu.edu/etd/414 https://digitalcommons.lmu.edu/cgi/viewcontent.cgi?article=1417&context=etd |
| Summary: | System engineering is a robust approach to the design, creation, and operation of systems. In simple terms, the approach consists of identification and quantification of system goals, creation of alternative system design concepts, performance of design trades, selection and implementation of the best design, verification that the design is properly built and integrated, and post-implementation assessment of how well the system meets ( or met) the goals. The purpose of the document is to use the processes and guidelines found in Systems Engineering to make Mukaila: the photographer a lean and profitable small business.
The photography industry is filled with hundreds of photographers. The main reason that many photographic businesses fail or don't reach profitability is because the fail to have a proper business and marketing plan. According to IBIS World Market research, the photography industry made approximately $9 Billion in revenue. At the same time, the number of photographic opportunities more than double every year. Ranging from headshots for actors to school portraits for high school seniors, the potential for growth of a small photography business is incredible.
To take advantage of this growth in the market the company has developed an extensive marketing plan. The key to succeeding where other photographers have failed is to have very aggressive pricing. The company has laid out very specific requirements. Solutions for every requirement are provided throughout the rest of this document. This begins with performing trade studies and continues with laying out the Systems Architecture. This is followed by eliminating waste with Value Stream Maps and ends with Risk Management analysis.
By the end of this document, it will also support the theory that Systems Engineering can not only be used for complex engineering projects, but can also be applied effectively to non-technical fields. |
|---|