Business Case Study Assignment Solution

Added on - 22 Nov 2020

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Business case Study
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1The way in which business is going to be operated.....................................................................1Name of the business...................................................................................................................2Visual identity..............................................................................................................................2Values for Promotion...................................................................................................................2TASK 2............................................................................................................................................3Reason to conduct primary research............................................................................................3Reason to conduct secondary research........................................................................................4Reason to collect quantitative research........................................................................................4Reasons to collect qualitative research........................................................................................4TASK 3............................................................................................................................................5Resolution of dilemma and its justification.................................................................................5TASK 4............................................................................................................................................5The way in which equality and diversity is going to be complied while selecting employees.. .5Rights of new employees.............................................................................................................6TASK 5............................................................................................................................................6Assets, liabilities, gains and expenditures of the business...........................................................6Budget to avoid cash flow problems............................................................................................7CONCLUSION...............................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONSetting up small business is done after a proper business planning for execution of thebusiness to achieve success (Gilding, Gregory and Cosson, 2015..). All the entrepreneursformulates proper business plan in appropriate manner by considering all the factors to attain allthe targets and position its image in the competitive market. This business report is based on newbusiness which is on process to established at Notting Hill Gate, London, UK. The new start upis Spectrum Pallette which is a Salon to be introduced in the city of London.This business report includes various topics such as set up of small business, marketresearch to develop business, ethical dilemmas faced regarding the business, equality anddiversity laws. It further includes the assets, liabilities, expenses, incomes and budget requiredfor conducting market research is also discussed.TASK 1The way in which business is going to be operatedA Salon is going to provide its services at Notting Hill Gate, London, UK. It is a type ofbeauty salon. The objective of such business is to provide experienced services by attractingmaximum clients and achieve a competitive share in the dynamic market place. This kind ofbusiness is concerned with providing relaxing services to various customers (Chang, 2015). As itis a start up it has targeted the small segment of middle and high class clients as clients inlocality of London to deliver the exceptional, relaxing and rewarding services through varioustechnical skills. Business canvas model of the start up business is as follows:Consumer segmentSmallsegment ofmiddle andhigh classclients of allage groups.Key activitiesRelaxing,rewarding,rewardingservices bytechnicalskills.Cost StructureMarketing,advertisementcostsHiring newemployeesPurchasingsalonequipmentsRevenue streamsProvide attractivepackages andservicestogenerate revenueKey PartnersKey resourcesChannelsCustomer relationships1
InvestorsHairstylistsFunds forcapital costsOnlinemarketingAdvertisementsPamphletsPersonalassistanceAutomatedservicesName of the businessThe name selected for the Salon is Spectrum Pallette which provides the exceptional,relaxing and rewarding services through various technical skills according to the preference ofthe customers. Various kinds of services are offered to different type of customers as per theirpreferences. This business will provide services related to the beauty care.Visual identityThe logo of the Spectrum Pallette is as follows:The logo shows the identity to the salon which provides distinct beauty services with attractivepackages.Values for PromotionThe owner of Spectrum Pallette formulates values for future which help him to promoteits business in the competitive market (Hawking and Sellitto, 2015). For the new start upbusiness it is very essential to create values for building a positive and good image in the marketand can change the perception of various customers. The values which Spectrum Pallette iswilling to formulate includes:Social:This type of value plays crucial function for the society. A new start up works tocomply the values, beliefs as well as values of the locality where they plan to launch the2
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