Business and Enterprise Management

Added on - 21 Apr 2020

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Running head: BUSINESS AND ENTERPRISE MANAGEMENTBusiness and Enterprise ManagementName of the Student:Name of the University:Author note:
1BUSINESS AND ENTERPRISE MANAGEMENTTable of Contents1.Introduction.........................................................................................................................22.Initial position.....................................................................................................................33. Vision and positioning...........................................................................................................34. Facts and figures....................................................................................................................65. Definition of a 3 star hotel.....................................................................................................76. Industry and competition........................................................................................................76.1Analysis and potential of the market................................................................................76.2. Competitor analysis.........................................................................................................77. Strategy and Product development.........................................................................................9Marketing mix........................................................................................................................9Product...................................................................................................................................98. Operational and Management Plan......................................................................................129. Financial forecasts................................................................................................................1310. Conclusion..........................................................................................................................153.References.........................................................................................................................17
2BUSINESS AND ENTERPRISE MANAGEMENT1.IntroductionA business model refers to a rationale of any company’s operation and how it cancapture, create as well as deliver value in the context of cultural, social, economy or others.The whole procedure by which the business model is constructed can be regarded as a part ofthe company’s strategy. The term can be used to represent the formal as well as informalaspects of the business, which typically includes the trading practices, purpose, infrastructure,target customers, sourcing, offerings, organizational structures, strategies, operationalprocesses, business process and cultural policies. The model can be described as an abstractdepiction of any company’s business strategy, be it graphical, textual or conceptual. It helpsany company to achieve its strategic goals and objectives (Wild, Wild and Han 2014). Forthis purpose the hotel that has been taken into account is the opening at Britain`s empty homein United Kingdom.The report throws light on the development of a new hotel business at. Business planrefers to the formal statement of the business goals, whether they are attainable or not andseveral plans and strategies for reaching the goals. In addition to this, the plan consists of thebackground information regarding the company or the team who is responsible for attemptingsuch goals. The plans also target changes in the branding and perception by the client, largercommunity, customers and taxpayer. At times, when the business is planning to change theirstrategies or start a new venture, a three to five year plan is needed as the investors may lookbefore investing (Youtube.com 2017).The report highlights the business plan of a new hotel at Britain’s empty homesthrough market research and development ideas. In addition to this, the report includes thesituation analysis, market and competitor analysis, strategy and product development,operational and management plan as well as financial forecasts.
3BUSINESS AND ENTERPRISE MANAGEMENT2.Initial positionDeveloping and renovating a building can take several years and lump sum amountinvestment to complete. Before making any commitment it is important to analyze theinternal as well as external environment of the business. It can be presented through SWOTanalysis in order to identify the strengths, weaknesses, opportunities as well as the threats. Itcan be done internally on the company or externally on the plans. This helps in decidingwhether the project is actually viable or not. Moreover, it can also create a successfuldevelopment of the empty buildings (Lee-Ross and Lashley 2010).3. Vision and positioningThe hotel is the place for the relaxation of the tourists and the customers. The hotelhas certain internal as well as external environmental forces, which may impact its progress.The forces are beyond the business owner’s as well as their management team’s control,which in turn affects the organization. These typical forces can be anything; the competitors,customers, socio cultural organizations, creditors, national and international organizations aswell, political parties, government and more. Some forces that are mentioned above maydirectly or indirectly affect the growth of the hotel business (Verbeke 2013). A business iscomprised of some general as well as specific forces. The general forces refer to those whichcan affect an individual firm in an indirect manner and the specific forces are those whichaffect an enterprise or company on a regular basis. Moreover, the business organization of ahotel is dynamic as it keeps changing. The change can be in terms of improvement in theaspect of technology, change in customers’ preferences or the entry of new substitutes or newcompetition in the market. In any business, be it an hotel industry or some other, uncertaintiesexist as it is too challenging to predict the future of the company, especially at those timeswhen changes occur too frequently (Tian 2016).
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