EBWO3001 Effectiveness in the Business World - Doc
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Autumn 2017 First-sit PortfolioEffectiveness in the Business World(EBWO3001): As a requirement for the completion of this portfolio, you should first decide on a type of business you have or would potentially like to start up in the future (e.g. restaurant, shop, service etc.). Your answers to the tasks below will relate to this business. WeekContents (350-400 words per task)PageLearningoutcomesEBWO3001 | Effectiveness in Business World1
Week 2-3a.Briefly describe the nature of business you have or might like to have in the future. b.What are the advantages and disadvantages of owning your own business?c.In what ways could PESTEL be useful in planning your start-up business? 3LO1/4Week 4-5a.In what ways can ‘globalisation’ have an impact on your business? Discuss two examples. b.What suitable technology would your business use and how would it improve the operations of the business? 4LO1/2Week 6-7a.Briefly identify who your ‘customer’ is likely tobe. Why is it important for a business to understand its customers?b.Describe TWO ways in which you might attract more customers to your business.5LO1/3Week 8-9a.What is the role of ethics in business? b.With examples from other businesses, describe how your business can treat its staff ethically. 6LO3/4References 7Total word limit: 1500 words(+/- 10%)This portfolio is a working document that MUST be completed over the 10-week course. By the end of the 10-week course, you should have completed 4 tasks. You will also berequired to work on your portfolio during your weekly tutorial sessions.ASSESSMENT – PORTFOLIOEBWO3001 | Effectiveness in Business World2
WeekTask 1LearningOutcomesWeek2-3a.Briefly describe the nature of business you have or might like to have in the future. b.What are the advantages and disadvantages of owning your own business?c.In what ways could PESTEL be useful in planning your start-up business? LO1/4Your answer should go in the box below. a) The nature of business that wants to open in the future is retail organisation. The name of business which starts in future is Johnson & Johnson company. This firm deals in providing the fashionable cloth items at the reasonable cost. This company manufactures and also selling the clothes for children, men and also women. The initial motive is to opening this company for providing the design clothes to every segment people (Bhuiyan, 2011). Its target only the medium and high class of people by providing the attractive and designer clothes. The vision of this company is want to be a leading firm in the sector of clothing. Its mission is to expand its business in to the new sector for increasing the profit level. b) For owing its own clothing business, there are some its benefits and also some of the limitations given below:Advantages:If Johnson & Johnson business company will give the attractive designer clothes to the people, then fromthis many people will be attracted towards it products (Chhokar, Brodbeck and House, 2013). It will be the main advantage of company. To run this type of business, there is a minimum need of licence.The main advantage for this company is that in this sector, it becomes the part of fabric of the local community through supporting the vision.There is a big margin in the field of clothing. In this business there will be no need of financial dependency.Disadvantages:Its main disadvantage is that in this sector there are many strong competitors. In starting own business, there is an involvement of risk at a large scale. Under this sector, there is a need to deal with the leftovers. If the local of company is not good or is on the outer location, then in this case people will not go to the outer location. c)At the time of planning the new business, PESTLE (Political, Social, Economic, Legal and also environmental plays an important role. Before starting a business, it is necessary to do the PESTLE analysis and also identify all the relevant factors. The impact of PESTLE can be bad and also can be good. It is necessary for the owner that analyse the PESTLE of that country in which person wants to start the business. It is important for a person to analyse the political factor (Guillén-Nieto and Aleson-Carbonell, 2017). The business will be good in that country where the government is stable. Otherwise, from changing the government their rules and regulations also changes and its impact will be bad on business. Technology impacts on business, to increase the effectiveness of business, company should adopt and also uses the new and advanced technology. It will helps in increasing the business effectiveness. Under this, P refers to “Political”, E means “Economical”, S means “Social”, T refers to “Technological” EBWO3001 | Effectiveness in Business World3
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