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Business Essential Assignment of Mixture World

   

Added on  2020-07-22

24 Pages2874 Words36 Views
Business Essential

Table of ContentsINTRODUCTION...............................................................................................................1TASK 1...............................................................................................................................1A. Business idea with suitable determination of competitors........................................1B. Objectives associated with business with two reference example...........................2TASK 2...............................................................................................................................3A. Environment analysis................................................................................................3TASK 3...............................................................................................................................4A. Launching an event...................................................................................................4B. Producing a budget...................................................................................................4TASK 4...............................................................................................................................5A. Key sections of marketing plan.................................................................................5TASK 5...............................................................................................................................7Business Decision Making.............................................................................................7CONCLUSION...................................................................................................................8REFERENCES..................................................................................................................9

INTRODUCTIONBusiness includes various number of essential factors which enables in operatingand lead to sustain in dynamic environment in an appropriate and suitable manner(Anderson and et. al., 2014). Managers need to implement and made a keen focus oneach and every activity properly so that better and efficient gains could be generate.Thus, it is important to consider all business essentials properly so that a new firm leadto manage diverse range of activities effectively. This project is based on Mixture worldwhich is one of a partnership business at London street of UK. In this assessment, itsignifies and describe about clear business idea of a coffee shop with major objectives.Along with this, it also need to evaluate about external business environment whichenables in better and suitable working. Although, management need to prepare a planas well as budget so that chances of suitable gain get enhance. All such essentials leadto determine while starting a new cafe shop. TASK 1A. Business idea with suitable determination of competitorsMixture world is a new coffee shop as well as book store where students, familiesand couples spent some time over there. In this consideration, the business will going tooperate at high street as well as online so that vast range of customers will going to getattracted. Food sector is one of a finest section in the world which always enables ingenerate more and more profit (Anderson, Sweeney and Williams, 2011). This businesswill going to fulfil each and every demand of target customers by performing newinnovation so that chances of better gain get facilitate. The targeting group of abusiness is every demographic where all kind of age, gender get underpin. Thus, allproducts and services manufacture as per the requirement of users through whichbetter and efficient gain could be articulate. Several major competitors of Mixture Worldare determine as below:Competitors Unique Selling Proposition Colonna & Small One of a major USP of business istargeting to high income level individual aswell as better amenities 1

Zizzy Variation in products and services consideras USP of businessB. Objectives associated with business with two reference exampleMixture world frame several major objectives which need to understand bystakeholders of an organisation properly through which all associated targets getaccomplish (Blumberg, Cooper and Schindler, 2014). Thus, all such objectives have toacquire in an absolute manner which enables in better and suitable working whichfurther promote in order to generate more and more profit:To deliver high quality service: This objective of a company stated thatmanagement need to manufacture and deliver high quality products and servicesthrough which management become able to accomplish their targets properly aswell as positive sustainability get reflectedTo render products at reasonable rates: Another objective of Mixture World isto provide goods and services at reasonable rates as compared with majorcompetitors like Zizzy and Colonna & SmallTo gain customer loyalty: This objective could be accomplish only throughdelivering of quality products and services. Customer loyalty is a major task forevery small and newly opened organisation which get attain by delivering ofquality products according to target marketTo make suitable innovation with course of time: This section standardisethat Mixture world have a potential to make necessary innovation with everycourse of time. This enables them to accomplish each and every target properlyand effectivelyMixture World is a partnership firm of two individual whom invested with a clear motiveof profit as well as creation of job opportunity. Thus, for supporting business, they needto underpin two major successful partnership firms which are:McDonald'sBen & Jerry 2

TASK 2A. Environment analysisEvery new or old whether small or large, every association have to analyse theexternal market environment properly through which all business could direct theirobjectives properly (Bovée and Thill, 2013). Below is a signified PESTEL analysis withappropriate impact and significance on Mixture World:BasisImpactSignificance Political: Government madeseveralregulationsassociated with taxationand revenuePartners have anappropriate relation withsome leaders of ruling partywhich support in positiveimpact on businessGovernment support manysmall business to grow byproviding suitable andappropriate fund Legal: Several laws relatedwith employment etc.framed with support of courtand legislative bodiesImpact of legal bodies willbecome positive in frame ifbusiness lead to follow alllegislation in a suitablemannerLegislations is important forfor every business byfollowing it they becomeable to manage goodwill atmarket placeSocial: Society play animportant role in businessand its working Mixture World have todeliver products andservices as per therequirement of customersso that positive reflectioncould be manageSociety significance isessential for an organisationthrough which anappropriate environmentconsideration get doneEnvironmental:Thisassociatedwithenvironment in whichorganisation is operating UKenvironmentalconditions are not good atyet because of Brexit. Thus,it might create negativeinfluence on an association Managers need to evaluatethe importance ofenvironment so that betterand suitable gain becomepossible Technological: Technologyplays an important role inorder to produce highRapid change in technologywill lead to bring negativeoutcome on business asTechnology is important forMixture World throughwhich they are going to3

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