Go Fund Me: Business Functions, SWOT Analysis, Porter’s Five Forces Model, 4Ps of Business, and Gibbs Reflective Model

Go Fund Me

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Business functions.......................................................................................................................3
SWOT analysis:...........................................................................................................................4
Porter’s five forces model............................................................................................................5
4Ps of business.............................................................................................................................6
Recommendations:......................................................................................................................7
Gibbs Reflective model:..............................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Entrepreneur is defined as a person who starts business, bearing all risk as well as benefits of
business. The procedure of establishing business is known as the entrepreneurship. It is the
concept that is related to starting and managing whole business venture and for the purpose of
gaining higher profitability objectives. Basically, entrepreneurship is considered as the
willingness of starting new venture that plays important role in development of economy and
expending it into global market place. In the process of starting business various skills such as
technical skills, personal and business management skills are required. Business is referred as a
legal entity which is involve in various commercial, professional and industrial activities for the
purpose of gaining profit. In this report the chosen organisation is Go Fund Me which is an
American crowdfunding platform that is launched in 10 May, 2010 and headquarter situated in
Redwood City, California, United State. In this report business functions, Swot analysis, porters
five forces and 4Ps of business are mentioned. Apart from that a reflection on learning is covered
in this project report.
TASK
Business functions
Business functions are defined as the activities that are carried by the enterprise to run business.
Functions of organisation is divided into two types such as core business functions and
supportive business functions (Bhattacharyya, 2017). Core functions are necessary activities of
business to earn income through producing final products on the other hand, supportive functions
facilitate the GoFundMe to carry all primary functions smoothly. Some of business functions are
defined below:
 General management is the important business function that manages all organisational
policies, regulations as well as ensure that business goals and objectives are achieved in
well defined manner.
 GoFundMe maintain public relation through collecting their information and provide
them services according to their interest that satisfy them (Snyder, Zenone, and Caulfield,
2020).
 Human resource in the most effective function of business that includes various activities
like recruiting, staffing, selecting, retaining and managing human resource.

 Administration functions are defined as the procedure of running business efficiently and
manage all organisational affairs. Management functions includes creating, executing and
examining the plans and business activities.
 Financial functions of GoFundMe is essential for managing funds of organisation in
effective way and ensure that business funds are utilising in best possible manner.
 Marketing functions are defined as the process of buy and selling business products to
individual and company. It is most important functions facilitate in promotions of
products and services.
SWOT analysis:
Swot analysis: Swot analysis is refereed as the effective tool and framework that used by
the organisation to evaluate the positioning of business in competitive market place (TOL, 2017).
The model facilitates organisation to analyse internal business environment factors such as
strengths and weakness whereas external environmental factors opportunities and threats and
formulates business strategies accordingly. These factors are defined below:
Strengths Weakness
Strengths are defined as the internal
capabilities and skills of GoFundMe that
provides various competitive advantages then
other competitors.
 GoFundMe has huge geographical
presence that enhance organisational
market share and easy accessibility.
 The organisation provides range of
products that help to increase customer
base and profitability ratio (Wain,
2017).
 GoFundMe provides its services at
different social media networks that
create strong relationship with
customers.
 Respective organisation has strong
Weakness are the area on improvement or
factors that limits the organisation to gain
competitive advantages then others. Some
factors are mentioned below:
 GoFundMe has no effective waste
management practices that affect the
sustainability of business operations.
 The organisation has insufficient cash
of assets that affect the financial
position and performance .
 GoFundMe has to budget for the
marketing as well as promotional
activities that limits the ability of
organisation to reach potential
customers.