Introduction to Business - Assessment 1 Group Presentation

Introduction to
Business

Introduction
The business environment is dynamic and keeps on changing. It is important to conduct
proper research and grab best opportunity that would help to run the business in proper manner.
This presentation is based on a business plan to convince the investors. The product and services
offered by the business and the use of theories is done to start the business properly. The analysis of
market is also part of the this presentation and discussion related to USP of the business is also
done. In the end, marketing and sales plan is formulated so that the business is able to achieve
success.
Business Overview:
Type of business and name? The business will be a clothing brand. Name of
the store will be “Quality Threads”
There are different types of business
organisation that work. Quality threads will be
a partnership business. It is analysed that
partnership is better than sole proprietorship.
The various benefits of of partnership over
other forms of business are as follows:
Better decision making can be done with the
involvement of more partners. It is seen that
risk is also shared among the different business
partners and there is pool of resources that
assist the partners to work in an effective
manner.
Products and services of the business? Quality Threads will serve trendy and quality
clothes specially for women. They will provide
casual, formal and party wear clothes for
women in every season.
Which theory or model would you like to briefly
add in to your business?
The use of Porter's five forces helps the
business organisation to know abut the
profitability in the industry. The five forces
under this model helps them to measure
measure competition attractiveness, intensity,
and profitability of an industry or market. The

five forces in relation to new business are
discussed below:
Threat of new entry: There is high competition
in fashion industry but at the same time there
is huge profitability. The business organisations
find the business tempting and like to start the
business over there. There is no barrier to
entry. There is need of capital and use right
strategies to start the business over there. So,
Quality threads will start the business in the
industry.
Bargaining power of suppliers: The bargaining
power of suppliers is high in fashion industry. It
is analysed that there is demand of quality raw
materials and the suppliers that provide quality
products are in demand.
Bargaining power of buyers: There is high
demand of quality products in the market. The
business that provides quality products are
able to retain the customers. The bargaining
power of buyers is moderate in this case.
Threat of substitute: There is high threat of
substitutes because there are already existing
players in the market that are established in
clothing industry. The customers have various
options to which they can switch in case of
requirements.
Competitive rivalry: There are so many
competitors that are present in fashion
industry. This enhances the threat of
competitors and the new business organisation
has to work on the strategies that would help
them to establish effective image in market.