Firm Level Strategies and PESTLE Analysis

This assignment delves into the strategic approaches adopted by various levels within a company. It emphasizes the role of higher-level management in developing comprehensive business strategies that guide lower divisions towards achieving predetermined objectives. A key aspect discussed is conducting a PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis to understand the external environment effectively. The assignment also stresses the importance of setting SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) objectives for successful goal attainment within defined timeframes.

Business Essential

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
PART A: An innovative business idea for implementing a new project...............................1
PART B. Objective for a new business idea..........................................................................2
TASK 2............................................................................................................................................4
External factor analysis for business......................................................................................4
TASK 3............................................................................................................................................6
PART A: Define event launch................................................................................................6
PART B: Preparation of a budget for project.........................................................................6
TASK 4............................................................................................................................................7
Use of information system in order to take effective decisions.............................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Business essentials are various components as well as things which are much
useful as it is must to apply new thoughts into business. Therefore, company will run
their operational exercises in an effective way (Hair, 2015). Present assignment is
based on FILL&FEEL which is a mobile coffee shop and they are going to introduce
new coffee item at marketplace. It is new enterprise and they are doing their work in
structure of partnership as they need maximum investment. In this assignment, there
are many objectives which are related with business plan is going to include. It is
require for an organisation to conduct PESTEL investigation before commencement of
any new firm. Moreover, a plan for budget in which company is going to invite people
with assistance of popular musical artist. It is required for them to utilize an adequate
system of information; thus, they will launch idea related to business easily. Hence,
these all are some requirements which need to accomplish before launching of any new
item or venture at marketplace.
TASK 1
PART A: An innovative business idea for implementing a new project
FILL&FEEL is an association which is established in London and they want to
establish a new mobile coffee outlet for people in which they are going to introduce a
new item (Min, 2015). Their main motto is to target those places where number of
visitors are maximum. It is important for the employer to examine price of product which
is being offered by their contenders and after that, value of their own items as well as
services is decided. As it is a mobile coffee shop thus, this will be easy for them to
provide products to clients on time. Henceforth, above mentioned two components i.e.
strategy associated with price and target each and every individual, are very much
helpful for an organisation as it helps them to improve their profits.
It is entirely an innovative thought to run a mobile coffee shop in London.
Additionally, they offer sugar less goods to clients which assist the firm to enhance their
share of market. Thus, it will help to provide maximum satisfaction to clients and in
addition, they are very much able to compete with their competitors in marketplace
(Savina and Kuzmina-Merlino, 2015). There are various number of items which are
offered by FILL&FEEL and these are stated as beneath:
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 Ginger Mojito
 Gourment coffee
 World coffee
 Chocolate lced
They are providing the best and effective items to people and along with this,
they take care of the customer's health. In this context, they give sugar less goods to
people so that, diabetic patients can also purchase products of this firm and will enjoy
their qualitative services (Sun and et. al., 2015).
Apart from all this, there are many rivals of FILL&FEEL in the market. They
determined them with assistance of manager of business; therefore, they can formulate
strategies as well as policies more effectively and efficiently. As a result, they can easily
increase the productivity of their firm and in addition will target all customers
appropriately.
Competitors Unique Selling Proposition
Ristretto Mobile Coffee Their fundamental objective is to target those people
whose income is high. Price of products and services
of this organisation are comparatively high, but
quality is effective. They utilize social media to
promote their items (Vai and Sosulski, 2015).
Mobile Coffee Shop Randevu They are very much popular for their some items
such as chocolate brownie, mojito and muffin. Also,
they provide sugar free brownie to their customers.
The Sprout Mobile Coffee Shop Value and quality of this enterprise are affordable and
they cover all prime and service locations. As a
result, they pull various clients towards them.
PART B. Objective for a new business idea
FILL&FEEL is an organisation that is performing its business in partnership. In
this, two individuals come together and begin an enterprise (Khatri and et. al., 2015).
They share entire loss as well as profits equally and therefore, it will reduce the burden
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of an individual. They take decision for their association by sharing views and opinions
with each other. As they both have their own abilities and skills which will be associated
with their own fields. Following are some examples related to a successful partnership:
 McDonald's
 Marks & Spencer
 Ben & Jerry
The above mentioned firms are doing their business in the international market.
This is helping them to improve their market share. Therefore, two persons are
regulating FILL&FEEL which will aid them to enhance capacity of business (Werner and
Tang, 2017). There are various objectives which are linked with the enterprise as stated
beneath: To provide qualitative services: Organisation needs to provide better services
to people as this will cater more satisfaction to them. Additionally, they will
capture attention of many people which will assist them to increase their
customer base. As a result, there revenues will get hike. To increase profitability: For this, they will offer various kinds of products and
services to people. Therefore, many persons will get pull towards firm and buy
their items. This will improve their profits. To create large customer base: To improve this, it is fundamental for the firm to
target each and every type of people (Walliman, 2015). Along with this, they
need to decide the price of their goods to be very much reasonable and thus,
lower and middle level people can also purchase their products. Apart from this,
they have to cater sugar less items to clients to attract individuals.
 To provide innovative goods: Manager of firm will cater inventive items to their
clients. This will assist them to survive at marketplace for longer period of time.
They will provide a different kind of coffee to people like, strawberry ginger
coffee.
Henceforth, it is essential for FILL&FEEL to set some targets as well as goals for
them which they want to attain timely. This will assist them to provide adequate
satisfaction to customers by fulfilling their desires. As a result, they can compete their
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competitors at competitive world. Rather than this, objectives which has to be achieved
by them need to be measurable and time bound.
TASK 2
External factor analysis for business
It is fundamental for FILL&FEEL to examine entire extrinsic components which
are related with business surroundings as this will influence the firm either directly or
indirectly. Therefore, it is needed for the management to consider all these factors at the
time of decision making so that they will acquire desired results (Hnátek, 2015). In this
context, employer will conduct PESTEL analysis which is described as below: Political: There are various policies which are formulated by the government for
an organisation. Thus, they will accomplish all their exercises under those rules
and regulations.
Impact Significance
It is required for FILL&FEEL to create an
effective relationship with UK's political
parties so that, they can regulate their
business in a proper way (Fener and
Cevik, 2015). This sort of strategy assists
them before any alterations take place.
Political element will aid the business to
grow and in addition, company can easily
face modification within limited period of
time.
 Economical: It is required for all business to comprehend these sort of activities
in an effective way; therefore, best results will get achieved.
Impact Significance
Activities related with economical will
provide huge influence to firm. For
example: if there is inflation then, this will
affect pricing strategies of FILL&FEEL.
It is must for firm to utilize economical
values of their products and services;
therefore, this will cater positive affect on
minds of people (Douglas and et. al.,
2016).
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 Social: Manager needs to prepare those kinds of policies and strategies which
will not provide harm to society.
Impact Significance
Firm is producing qualitative items for
people by taking care of their health. As a
result, it renders positive affect on people
and their working.
If employer do take care of society then,
they will assist them to accomplish
coveted targets of firm within limited period
of time.
 Technological: If firm is utilizing new methods and techniques then, they can
easily improve their productivity and quality of their items (Hair, 2015).
Impact Significance
With help of new tools firm will provide
positive affect on business and they will
develop qualitative goods for clients.
Technology is much fundamental for firm;
as a result, employer will develop products
on corrective manner.
 Environmental: It is related with that place where, entire business exercises are
going to take place.
Impact Significance
With assistance of PESTEL investigation,
firm will easily comprehend surrounding of
business; therefore, they will complete
their operational activities in an adequate
way (Min, 2015).
Manager of firm needs to understand their
intrinsic as well as extrinsic surroundings
as this will aid them to manage each and
every task of enterprise.
 Legal: Main purpose of ministry body is to protect the privilege of superiors,
subordinates as well as clients. For the above stated aim, there are many laws
and acts developed by them (What is PESTEL analysis?, 2017).
 Impact  Significance
It is duty of employer to take care of all To acquire the best and appropriate
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laws which needs to be follow by firm in an
adequate way. If not, then this will provide
an adverse effect to performance as well
as image of an enterprise.
results, it is essential for an association to
follow all legislations developed by
government (Savina and Kuzmina-Merlino,
2015).
TASK 3
PART A: Define event launch
It is required for FILL&FEEL to launch event function; therefore, they can easily
introduce their firm in front of individuals. This is essential for them to accomplish entire
legal formalities which is must for them. They planned to call a popular musical celebrity
for the event. The location of the event is ground of University as there are many
students who will take part in this event. This will help an organisation to improve their
sales as well as productivity. Henceforth, it is required for them to arrange adequate
protection for her and give them some items to eat. This will help them to maintain a
proper relationship (Sun and et. al., 2015). Apart from this, to render description about
organisation they will give food sample to people and advertisement in newspapers and
social media. FILL&FEEL will convey about the event to students of university, with
assistance of notice board or by giving templates to them. Conduct of an event will
require lots of fund but it is consider as a one time investment because after that, it will
provide benefit to firm for longer time duration.
PART B: Preparation of a budget for project
FILL&FEEL is a partnership firm and running by two persons. They both
contribute equal money in business and event. To invest fund adequately, it is required
for them to do proper planning. For above stated aim, they will formulate budget, as this
will help to make each exercises more adequate and proficient (Vai and Sosulski,
2015). Therefore, spending plan of FILL&FEEL for the event launch in which they are
going to invite popular musical celebrity.
Particulars Event launch
Amount 10000
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Components for event Cost
Venue 1000
Catering 400
Advertising 100
Decoration 100
Transportation 300
Anchor 200
Guest 1000
Table 500
Chairs 400
Equipment 1500
Corporate social responsibility 2000
Total 7500
Net position 2500
Therefore, available budget and in addition savings from it is mentioned as
beneath:
Budget available:
Expenses: 10000
Remaining 2500
Henceforth, budget comprises lots of expenses on invitation of a celebrity and in
addition give sample of food to people. FILL&FEEL always give qualitative goods and
services to persons which will assist them to attract numerous individuals towards them.
As a result, they can easily build positive image in mind of clients. Along with this, they
are able to maintain their goodwill in front of society as well as stakeholders (Khatri and
et. al., 2015).
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TASK 4
Use of information system in order to take effective decisions
It is must for FILL&FEEL to embrace an effective procedure system of sales
order; therefore, they will take best and adequate judgement for their business which
provide advantages to them (Savina and Kuzmina-Merlino, 2015). For above stated
purpose, it is required for manager of strategic level to develop some strategies for firm
which needs to be transfer by them to tactical level. After that it has to be followed by
operational level to accomplish their task in an effective manner. By taking into under
consideration one month salary, management will easily estimate their sales which is
related with next month. This will assist them to buy crude material for their goods and
in addition they will take an idea related to entire expenses (Douglas and et. al., 2016).
Therefore, decisions will be associated with three business level, which is stated as
beneath: Strategic level: The fundamental target of FILL&FEEL is to concentrate on their
clients fulfilment. To improve their customer base, it is necessary for them to
target more people. Along with this, it is required for manager to convey their
decision to the tactical level because this will assist them to retain at marketplace
for longer period of time. Tactical level: Fundamental duty of employer is to accept judgement which is
given by higher authority; so that, they will acquire best outcomes as this will aid
top management to develop an adequate strategies (Sun and et. al., 2015). It is
necessary for manager of FILL&FEEL to transfer requisite information to the
lower level as there main work is to accomplish coveted targets within limited
period of time.
 Operational level: Their main task is to execute entire work in an effective
manner by following those directions which are providing by top authorities. It is
essential for them utilize best quality of material; therefore, they will produce best
and adequate goods and services for people.
Therefore, it has been comprehended that each level play an eminent role in the
success and growth of an organisation. If they are doing their task in an adequate way
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then, they can easily take advantages from their contenders at competitive world (Khatri
and et. al., 2015).
CONCLUSION
From above mentioned assignment it has been comprehended that there are
various fundamental things which is required for an organisation to begin new business
or launch any new item for people. They need to prepare an effective plan for firm which
help to maintain their operational activities in an effective way. By conduct an event at
university, firm will acquire attention of numerous individuals. For this, it is must for them
to formulate a budget plan in an appropriate manner. In this assignment, there is a
description various level of firm which is include in company. Fundamental aim of higher
level is to develop strategies for business which has to be follow by another divisions to
attain desired targets and objectives within limited period of time. Instead of this, they
need to conduct PESTLE investigation; therefore, they can understand extrinsic
environment in a proper manner. They have to decide SMART objectives for business;
thus, they will attain coveted targets within limited period of time.
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REFERENCES
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success. Procedia-Social and Behavioral Sciences. 181. pp.342-348.
Khatri, T. and et. al., 2015. Vendor Managed Inventory (VMI): Benefits, Challenges and
Essentials in Implementation. Data Mining and Knowledge Engineering. 7(7).
pp.248-252.
Min, H., 2015. The essentials of supply chain management: New business concepts
and applications. FT Press.
Savina, S. and Kuzmina-Merlino, I., 2015. Improving Financial Management System for
Multi-business Companies. Procedia-Social and Behavioral Sciences. 210.
pp.136-145.
Sun, J. G. and et. al., 2015. Analysis on technological opportunities of evolution
bifurcations. Procedia Engineering. 131. pp.1113-1120.
Vai, M. and Sosulski, K., 2015. Essentials of online course design: A standards-based
guide. Routledge.
Walliman, N., 2015. Social research methods: The essentials. Sage.
Werner, C. H. and Tang, M., 2017. Essentials of the Management of Creativity and
Innovation in Education, Business, and Engineering. In HANDBOOK OF THE
MANAGEMENT OF CREATIVITY AND INNOVATION: Theory and Practice. pp.
347-364.
Online:
What is PESTEL analysis?. 2017. [Online]. Available through
:<https://www.howandwhat.net/pestel-analysis-of-asda/>.
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