(PDF) Business Studies Assignment
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Added on 2020-11-12
(PDF) Business Studies Assignment
Added on 2020-11-12
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BUSINESS STUDY
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Industry.......................................................................................................................................1Location......................................................................................................................................1Target Customers........................................................................................................................1Business Model...........................................................................................................................2Name of Business........................................................................................................................2Visual Identity.............................................................................................................................2Values of Business......................................................................................................................3TASK 2............................................................................................................................................3Primary research to conduct for business....................................................................................3Secondary research to conduct for business................................................................................3Qualitative and Quantitative research to conduct for business...................................................4TASK 3............................................................................................................................................4Ethical dilemma which faced in setting new business with proper justification........................4TASK 4............................................................................................................................................5Compliance with Equality and Diversity law for selecting zero hour contract employee..........5Employment rights......................................................................................................................5TASK 5............................................................................................................................................6Describing business assets, liabilities, gains and expenses.........................................................6Managing cash flow problems....................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONThe present report is stating business plan for EasyFashion with multiple strategies to beadopted for accomplishing success along with best market research technique. In same series, itwill articulate about ethical dilemma and its solution and equality and diversity act for zero hourcontract. Lastly, it will categorise business assets, gains, liability and expenses.TASK 1IndustryThe industry is developed with the business new fashion in clothing brand. Nowadays,clothing across the world is considered as the most important aspect of human life. Industrieswhich deals in this business achieving higher profits. This clothing idea is generated because,customers nowadays, are very much influencing with social media trend. They are attracted towear clothes which is in trend among the celebrities therefore, setting up of industry in clothingwear is developed in business market.LocationChoose right location of business is an important factor for achieving success. Fordeciding location of business, right environment is carefully analysed. Location is decided infavour of customers, so that they will easily able to reach at shop. To choose location, analysis isdone in main areas of city of London by which customers can easily get attracted. Location likeZarkan of London is decided which is a clothing shopping centre so that customers will easilyaccessible by car and by public transportation. To ensure proper safety of clients, brighting lightsare fitted in and outside the shop so that customers who are working will feel safe to reach shopin night time as well.Target CustomersTarget group of customers will mainly be women's between the age of 18 to 50 and partof middle class and upper class. Majorly they are targeted because, these is the group whichmostly like to purchase products and also women's have an incredible amount of buying power.They are also targeted because, women's mostly spent countless working hours to choose what towear for a particular. Women's also targeted because they are easily get influenced regardingtheir purchase decision and will also want to look best in all events and workplace they visit.1
Business ModelFor earning profits in for newly established clothing business, revenue model is chosen. Itis the model which provides a framework for generating revenues in organisation. Byconsidering this model, owner will able to decide which source is to pursue in context ofgenerating revenues and profits in organisation. It is also analysed with this model, regardingvalue which needs to offered to customers, offering price to goods and services and to developfactors which overall generates profits and revenues. With clear revenue model, owner will ableto focus on target audience, fund development plan to offer products and services to raise overallcapital of business (Revenue business model, 2018).Name of Business“EasyFashion” clothing name is chosen for setting up business in market of London. Thisname is selected because shop has effective clothing styles in accordance with preferable ofcustomers so that they will easily able to decide what to purchase or not. “EasyFashion” clothinghas effective employees which provides proper suggestion to customers with preferences ofselecting clothes. Tag line of this clothing business is “cloth which carry style”.Visual Identity“EasyFashion” clothing is a brand which provides quality of clothes with valuablefabrics. Clothes which offered to customers are durable in nature with current market trend sothat customer will able to fulfil their expectation of wearing stylish clothes. Prices of productsand services are also cheap which is main concerns of customers regarding purchase of stylishclothes with valuable quality. Logo which will be presented for operating business functions is asfollows-2
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