Introduction
The Cinematography and Animation business has been flourishing in Nigeria. The business needs to be tracked effectively while the relevant information drawn to ensure that the film industry has developed with time. The reflective report under discussion will dwell on preliminaries on adopting effective business plan related to the Cinematography and animation courses in Nigeria. The Animation and cinematography business in Nigeria requires a significant and detailed capital investment, great planning, and attention to detail to keep one’s business ever profitable. Effective marketing planning will be an advantage for the company to flourish and realize the set projections.
Executive Summary
Cinematography and animation business is a Nigerian-based film and animation studio. It has a secure-based standard aimed at ensuring that it has become one of the leading animation studios in Nigeria. Like any other business, the Cinematography and animation business in the Nigerian context has tried its level best to become the ultimate video and animation production in the region by adopting technology in Nigeria (Jiang et al., 2020). The cinematography and animation courses and businesses in Nigeria fall under the Video Post-Production service industries. These industries include the companies involved with the preparations of the motion pictures and distributing the same pictures to the members of the public. It consists of editing the same videos, offering captioning, animation, and other related specialty services in the film services (Compesi, 2015). In this case, the Cinematography and Animation business plan will detail more on the business’s milestones throughout the process.
It is realized that the Cinematography and Animation business is at its full growth cycle where we have diverse events taking place daily (Xia, 2014, n.p.). The flourishing and development of the video and gaming industry are alarming; therefore, it is evident that Nigeria’s cinematography and Animation business will be at the next great level in the coming few years. It would include the ability to merge the animation business and the production of the videos and the cinematography as a whole package.
The business’s core goals are to ensure that the production of the videos and animation is of high quality and that the content produced can comfortably compete with that produced internationally by the best production houses. The deliverance of high-quality animation and video work will enable the company to be better positioned to make more and more content for the consumers (Kurniawati, 2020, p.26). The required training initiated by the qualified team ensures that the trainee has successfully produced the best content and high quality; this will ensure that the company has successfully attained the required threshold.
Products and services
The cinematography and Animation business in Nigeria was formally introduced to maximize earned profits in the Video Post-production services industry. The business offers a wide range of services, such as post-processing of the animated video contents, editing the audio, including adding the loop and sound effects, creating credits, promotional activities, and formatting the animation contents for various media. The business wishes to compete favorably with other leading animation studios in the rest parts of the world, not only in Nigeria. The Cinematography and Animation business has set aside a team of experts who are ready to execute the issued mandates to ensure that the business has run successfully and efficiently in the long run (Xi, 2014).
Mission and Vision Statement
The business’s core mission is to ensure that it has established a standard animation studio that will be accepted in all parts of the world, not only in Nigeria. The animated video has to be taken in most parts of the world to be termed standards. For instance, if a video has gained popularity in most parts of the world, it would therefore mean that the content has attained the minimum threshold for its acceptance margin (Raza, 2020). Our mission also includes building a world-class animation studio that will gain popularity and be in a position to create great movies and animation Worldwide. Our vision is to develop and build an animation studio that can compete with other leading brands and content in the animation industry across the globe.
Business Structure
The business intends to start small and eventually grow to a massive industry with several branches across the globe. The firm is already aware of building a solid business structure. Therefore, there is a need to ensure that the necessary platforms are set aside to allow the same flourishing in the end. Having such a notion, the business aims at hiring the best professionals in the area of operations where most of the duties will be channeled (Odoarefe, 2018, p. 199). The induction will only be done to qualified individuals, self-driven, client-centric, hardworking, and creative individuals. The business will be able to produce the best set in the production line. Conversely, having combined these groups of trainees and workers, the business structure will also include a profit-sharing arrangement available for all the senior management staff based on their performance period within five years and above; the company’s board of trustees agrees upon this. The following are hired to fulfill the minimum requirements for the establishment of a company and a business plan that should be followed:
- Chief Executive Officer (CEO)
- Creative Director
- Human Resource manager
- Sales and Marketing Executive
- Accountant
- Animation Artists
- Client Service Executive
Each of the selected individuals in the list above has a unique role in the business’s success in the end. The staff also works hand in hand to ensure that the firm has run effectively and attained the required target (Yamamoto, 2014). Therefore, if one department fails, it would mean that another department opts to fall in the end. Therefore, all the departments in the Animation industry must run smoothly to realize effective and absolute results.
SWOT Analysis
The SWOT Analysis of the business requires that the company tracks its strengths, weaknesses, opportunities, and threats to realize positive growth in the end. The analysis will help the animation business to grow effectively and learn the target projections in the long haul (Sarsby, 2016). If the company has attained the required threshold, it would mean that the business will eventually achieve the projected outcomes and stand in a better position for bettering the cinematography and animation business in Nigeria.
Strengths
The power of our team is where the core strength of the cinematography and animation business lies. The workforce is the other notion that allows the company to thrive positively and assure excellent qualifications in the broader area of production in animation production (Teoli, 2019). Additionally, apart from the dedicated workforce and teamwork, the business has also embraced the latest technology, which allows a smooth editing and production of high resolution images and videos.
Weaknesses
Since the cinematography and animation business is new in the Nigerian setting, it might take relatively longer for the members of the public to embrace it and break into the market both locally and internationally (Benzaghta, 2021, p.55). Therefore, we must ensure that the market strategies have been perfected to fulfill the customer’s utility in the shortest time possible after the establishment.
The other weakness is that the business might not have generated enough capital to allow its going concern concept according to the generally accepted accounting principles. Thus, the production process will require that enough capital be generated by utilizing member shares and bringing in new shareholders in the business for contribution purposes.
Opportunities
The Cinematography and Animation business opportunities are widely beneficial considering the number of organizations that aim at needing the services. The options available will ensure that the business has attained the credible threshold and an assurance of the successful ending of the cinematography and animation business in the end. It is also imperative to note that as a classic film and animation studio, we need to take advantage of the opportunity to ensure that we have used the relevant resources for the business’s success (Benzaghta, 2021, p.62).
Threats
All businesses around the globe are posted to threats; therefore, it is imperative to note that great dangers will face our business, and it will be our collective mandate to ensure that the threats have been resolved in the end. The economic downturn is one of the greatest threats that our business is bound to face in executing its transactions (Benzaghta, 2021, p.73). Most companies have faced economic challenges in the past. Therefore, it is imperative to note that our business will not be of any exemption; thus, clear strategies should be set to mitigate the same in the end.
Market Analysis
Market Trends
The cinematography and animation business has, in the recent past, experienced some rapid growth as a result of rapid technological advancements. Online video has been one of the most remarkable and most significant trends in the film production industry since the dawn of the year 2016. It has been concluded that almost a hundred million individuals view an online video daily (Zhu, 2016, p.383). The market trends, in this case, will allow a proper projection of the future success of the cinematography and animation industry in the end. Having an appropriate view of the necessary projections would be effective to allow for the development of effective projections for the business’s success in the long haul.
Market Target
The market target for our business is closely linked to those in the households setting, the recording, the advertising and branding agencies, teenagers, children, and adults in the society. The market target for the animated videos can have a wider range of audiences ranging from children to adults. It is imperative to ensure that the target market has been successfully been selected when producing these animations. In line to actualizing this, it is imperative to ensure that we have contacted the relevant corporate and individuals in ensuring that we have achieved the best market strategies and the target audience; this will allow us to reach into the required target and the know-how on the quality to produce (Kravchik, 2020, p.55). It is at this juncture where individuals will be able to get the required videos and in the end fulfil the utility of the consumers. We have also ventured into conducting market research to ensure the available studios have attracted a huge number of valuable clients that we wish to work with in the end (Maredia et. al., 2018, p.429).
Competitive Advantage
The competition in the Cinematography and Animation is becoming stiffer and stiffer every day. Therefore, it is required that the business and the company develop the most appealing strategy to curb the same. It is also important to note that producing high-quality videos and animations will help counter these challenges (Batista, 2021, p.41). When a company has made a high-quality video and animation, it would mean that a broader range of the population will embrace the footage and the animation and create a positive reputation for the production industry (Abdelaziz, 2015, p.40). The Cinematography and animation business has been termed as one of the most profitable businesses; therefore, it is imperative to venture into the business and ensure that the necessary efforts are put in place to allow positive thriving in the long run.
Conclusion
Preparing a business plan for the Cinematography and Animation business in Nigeria requires a detailed analysis of how to execute the mandates involved and realize success. However, the deal might be good in the projection, but it requires critical dedication to fulfilling the requirements. There are various challenges faced by teamwork. They need to be resolved at the preliminary stages to avoid them recurring or affecting the business’s success. Some of the challenges include inadequate knowledge regarding the production industry. If there is insufficient know-how, the company might fail in its preliminary stage.
The know-how includes the relevant skills which allow the company realizes the projected results. Effective team performance will ensure that the company has realized the projections and, in the end, dominates the market. The specific team area for the cinematographic and animation business in Nigeria will be teamwork. Teamwork allows the business to grow since the team members are working towards realizing a common goal of the company. In the case of the challenges faced by the team members, they need to be resolved by adopting relevant conflict resolution techniques, and they should be detailed so that they might not retake place in the future.
Reference List
Abdelaziz, M.A., 2015. Proven methods to enhance e-learning process using social media (materials, interaction, and competitive advantage). International Journal of e-Education, e-Business, e-Management and e-Learning, 5(1), p.40.
Batista, H.R., 2021, March. A pipeline for facial animations on low budget VR productions. In 2021 IEEE Conference on Virtual Reality and 3D User Interfaces Abstracts and Workshops (VRW) (pp. 413-417). IEEE.
Benzaghta, M.A., Elwalda, A., Mousa, M.M., Erkan, I. and Rahman, M., 2021. SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), pp.55-73.
Compesi, R. and Gomez, J., 2015. Introduction to video production: Studio, field, and beyond. Routledge.
Jiang, H., Wang, B., Wang, X., Christie, M. and Chen, B., 2020. Example-driven virtual cinematography by learning camera behaviors. ACM Transactions on Graphics (TOG), 39(4), pp.45-1.
Kravchik, I. and Newhall, E., 2020. Avatars Engage Generation Z. Journal of Strategic Innovation and Sustainability, 15(5), pp.55-61.
Kurniawati, N., 2020. Creating low-cost animation video using online platform: a learning media user review. Jurnal Pendidikan Kedokteran Indonesia: The Indonesian Journal of Medical Education, 9(1), pp.26-31.
Maredia, M.K., Reyes, B., Ba, M.N., Dabire, C.L., Pittendrigh, B. and Bello-Bravo, J., 2018. Can mobile phone-based animated videos induce learning and technology adoption among low-literate farmers? A field experiment in Burkina Faso. Information Technology for Development, 24(3), pp.429-460.
Odoarefe, O.G. and Osa, I.F., 2018. Effects of Computer Graphics and Animation Instructional Modes on Junior Secondary Students’skills Acquisition In Business Studies In Ibadan, Nigeria. African Journal of Educational Management, 19(01), pp.199-219.
Raza, S.T., 2020. Business plan on establishing a training institute at ICE animation.
Sarsby, A., 2016. SWOT analysis. Lulu. com.
Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis.
Xia, C., 2014. Application of Continuous Animation Production Technology in Gymnastics Multimedia Teaching. International Journal of Emerging Technologies in Learning, 9(9).
Yamamoto, K., 2014. The agglomeration of the animation industry in East Asia (Vol. 4). Japan: Springer.
Zhu, C., Zhu, H., Xiong, H., Ding, P. and Xie, F., 2016, August. Recruitment market trend analysis with sequential latent variable models. In Proceedings of the 22nd ACM SIGKDD international conference on knowledge discovery and data mining (pp. 383-392).