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Report on Entrepreneurial Strategy

   

Added on  2020-12-18

13 Pages3885 Words94 Views
EntrepreneurialStrategy

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Company Overview....................................................................................................................1Discussion of Entrepreneurial Strategies....................................................................................1SWOT, TOWS Analysis and PESTLE Analysis........................................................................4SMART Objectives.....................................................................................................................7Implementation of the Strategy...................................................................................................7Recommendations.......................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONEntrepreneurial Strategy can be defined as the ways by which an organisation makes itsrelationship better with the environment in which it is operating. The following assignment willalso focus on the impact of external and internal environment on the working of an organisation.The impact of external environment will be known with the help of different models such asPESTLE Analysis, BCG Matrix and McKinskey's 7s Model. In addition to this, the internalposition of the company will also be known by doing the SWOT Analysis of the company.Further, in this assignment, the implementation of the best strategy for the company will also bereflected. Alt last, the report will provide some recommendation to the company on the basis ofthe discussion made in this assignment.MAIN BODYCompany OverviewThe company chosen for the completion of this assignment is Prezzo Restaurant. Thefollowing is a chain of British owned restaurants serving food in United Kingdom and Ireland.The selected business is operating the Food Sector. The business was firstly opened in CentralLondon by Jonathan Kaye, the Chief Executive of the restaurant. It was founded in the year 2000and is headquartered in Greater London, United Kingdom. The website of this company iswww.prezzorestaurants.co.uk. In 2016, the Prezzo Restaurant was opened in Ireland. Discussion of Entrepreneurial StrategiesPorter's Five Forces Model:The following model was propounded by Michael E. Porter. In accordance with thismodel, it is used in order to analyse the competitive environment of an organisation with the helpof five powers which are discussed as under:Industrial Rivalry: The following power takes into consideration the intensity of competition inthe market (Al-Dhaafri, Al-Swidi and Yusoff, 2016). For example, the number of companiesworking in the same industry and producing the same good and services which Prezzo isproducing. On the very basis, the intensity of the competition will be decided.Threat of New Entrants: There is also a threat of the new entrants in the industry. This forcealso impacts upon the working of an organisation. On the basis of barriers to enter in the market,the decision will be taken whether this power is high or low.1

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