Business Essentials INTRODUCTION

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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