Best Ideas 2019 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Diamond polishing and cutting.
Explain your idea in details:
Hiring employees with expertise essential for the subject matter will lead to quality product. We aim to get at least 5% market share in the first 2years of our operations. Action plan: Spending enough time on research and development will help in quality and competitive advantage. The use of latest technology will help in timely completion of tasks and best results. The intention is to find market for these precious stones before they are polished inorder to meet individual customer requirements. Scanning the plant environment and encouraging new ideas from employees leads to innovation and creativity thus improvement in productivity.
Expected impact of your idea on sustainable development
This process will not compromise the well-being of the community because all the waste will be deposited in the dumping area. We will always ensure no depletion of natural resources. Diamond as a non renewable resource may face depletion but we aim at ensuring that it does not become extinct by recycling diamond products. Our performance targets are as follows: To atleast break-even in the first year of operation. Prompt delivery of services and customer satisfaction. Looking for regular suppliers minimises costs. Measures to evaluate success: Matching actual costs against the budget to see how cost effective our processes are. Meeting customer specifications constitutes quality of our product. Less or no employee turnover does not compromise productivity and it saves costs of hiring new personnel.
Plans for implementation and sustainability
The intention is to minimise variable costs as much as possible because this project requires huge fixed costs. Looking at what the competition is doing and making our products more appealing and distinct from the competition will give us a competitive edge. These stones will be sold to legally registered dealers and jewellery manufacturers. I am currently doing this alone. This project requires a lot of funds so most of finances will be acquired through the sale of shares, and other sources.
I am 27year old lady, residing at Khanyane, Hlotse Leribe in Lesotho. I am a bachelor of commerce in accounting holder awarded by the National university of Lesotho. I am currently not working. I am a highly organized individual proven by my academic record. I have great interpersonal and communication skills. I am fast learner who always seeks to learn new things.