Initial Meeting on Company Formation

Initial Meeting on Company Formation
Company formation begins with initial meeting of the founding members. The initial meeting is meant to enhance the sharing of ideas about the formation of the intended company. The initial meeting aimed at illustrating the name of the company and the purpose of the company. This meeting was conducted 15 years ago, and the venue of the meeting was in the garage of the Jagrit. The members agreed on the company name Entertainment Technologies. The purpose of Entertainment Technologies was to develop and upgrade superior musical instruments. The vision of the company was developed, and it is: To be the best provider of entertainment products globally. The mission of the company was agreed as; to provide musical instruments that meet the expectations of the customers. The goals of the company were also agreed at during the formation process. The key goals entail; securing adequate financing, setting in place appropriate organizational structure, developing the initial equipments, and identifying the appropriate marketing strategy.
The four founding members formed the initial management team. The CEO of Entertainment technologies was Jagrit. Yousif was responsible for financial management. Olamide was incharge of the entire production process of the company. Olawale was responsible for sales and marketing. The initial capital valued at US$40,000 was generated through members’ savings. Each member contributed US$10,000. It was agreed that the founding members should work voluntarily during the initial stages of the company. The initial operational office was also discussed as the garage of the CEO Jagrit. The founding members agreed that the initial marketing strategy to be used entails campaign posters, burners and word of mouth. The company has grown significantly over the years. We are currently targeting the entry into international markets.