Business Plan Assignment - New Venture

INTRODUCTION TO
BUSINESS

Table of Contents
1. INTRODUCTION ......................................................................................................................1
1.1 New business venture............................................................................................................1
Nature of New business and what product and services it provides: ....................................1
USP and explantation of new venture would have a competitive benefits: .........................1
1.2 Business type.........................................................................................................................2
1.3 Research ...............................................................................................................................2
2. Business plan...............................................................................................................................2
2.1 McCarthy's 4P's.....................................................................................................................2
2.2 Employees/Staff....................................................................................................................4
Explain the job roles and duties allotted to the concern employees & role of the manager. 4
Business management is a flat structure or pyramid hierarchical: ........................................5
2.3 Customers/Clients.................................................................................................................6
3. Future Plans.................................................................................................................................7
3.1 Business could enlarge in the future with the assist of correct strategies.............................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
.........................................................................................................................................................9

1. INTRODUCTION
There are large number of the business which are ruining in the society. It is important
and significant to delivery products and services as per the needs of customers. This assignment
is based on new business plan that outlines new venture (Bryman and Bell, 2015). In this report,
chosen business organisation is small hotel which is located in the United kingdom. Name of
hotel is TVG is a small in size that provide different services and products to the customers at
reasonable rate. This report classified into different tasks which include business type, research,
McCarthy's 4P's, employees, customers and future plan.
1.1 New business venture
Nature of New business and what product and services it provides:
There are various activities and functions which assist them to render satisfaction to
customers or employees. It is important that enterprise has to make an effective policies and
strategies which support to maximise customer base in the organisation. Nature of TVG hotel
are determine as below:
 Main aim and motive of small enterprise is to earn maximum amount of capital by
providing quality and healthy products to the customers.
 Business entity run and operate in society which is beneficial to perform entire activities
in systematic manner.
 Hotel provides different services and products to the customers such as 24-hour room
services, Laundry facility, dinner with traditional dancers show services and many other.
USP and explantation of new venture would have a competitive benefits:
Unique Selling Proposition of the TVG Hotel is its effective and better services which is
provide by them to the customers at affordable price (Demil and et. al., 2015). It is highly needed
by the new venture because with the help of these they easily reach target audience, highlights
uniqueness, Strengthen, brand image, drives marketing strategy, sets goals for employees, make
a loyal customer case and many other. All these are essential for the company to achieve
competitive advantages in an easy manner.
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1.2 Business type
TVG Hotel is a private enterprise that located in United Kingdom. It is a separate firm,
as administrator they will not be liable for any debts or liability the company goes into. TVG is a
partnership organisation which was launched by the three partners with motive to maximise their
sales and revenues. Business model of the hotel includes product & services, target customers,
management, value configuration, costs, distributions, partner network, infrastructure and many
other (Doh, McGuire and Ozaki, 2015). Distribution channel of the hotel is wholesalers, retailers,
distributors and many other. Product and services of the firm is dinner with traditional dancers
show services, Laundry facility and so on. All these are highly essential for the business to
maximise customer base in the organisation.
1.3 Research
In order to establish new hotel in United Kingdom. TVG provide different services and
products to the customers. For this, they conduct research programme where business easily
identify their competitors, customers needs and market demands. In during the research event
they see different competitors are available in market place which are render similar kind of
services and products to the customers (Findlay-Thompson and Mombourquette, 2014). There
are some competitors of the TVG such as Watergate Bay, Hotel Football and many other. In
order to complete them, business use different marketing communication strategies and try to
provide best quality at affordable price to the clients.
2. Business plan
2.1 McCarthy's 4P's
It is one of the important and foremost part of the existing and new venture. With the help
of this tool they easily introduced their new services and products in marketplace. 4P's of
marketing strategy is more beneficial and useful for the small hotel to easily attract large number
of the customers as well as maximise their sales and turnover. This concepts includes product &
services, price, place and promotion. These are determined under this in detail way:
Product & service: It is identify as an essential and necessary part of the each and every
organisation (Galí, 2015). In this TVG provide different services and products to the potential
and target customers, including, Guest rooms, conference facilities, Banqueting room, food and
beverages, executive lounge, parking facilities, business centre, wellness and health facilities and
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many other. In this they cater to various market segments and all of these has various needs. For
example: a leisure visitor on a family and business trip looks for wellness and recreational
facilities of the TVG. On the other hand business traveller render significance on hotels services
like video conferencing, business centre and many other. This type of evaluation is completed
by the marketing and sales department that can assist the upper level management in order to
recognise these particular needs and work along with the administration to either create such
kind of facilities and develop the necessary improvements.
Price: It is another important and significant part of the marketing mix which assist
business to improve their goodwill and image in marketplace. TVG is a small hotel which use
dynamic pricing strategy on the basis season (Gattorna, 2017). For example: hotel products like,
rooms for guest, beverages and food menu and son on are not priced reasonable then the visitors
or customers may reject the services uses of hotel. Price of the hotel room on the bases of season
are determined as below:
Peak season: It is depict as the time period when demand and requirement for a TVG and its
services or products is broad and the business can charge the maximum amount to the visitors.
Off or Valley season: In this period demand of the hotel room facility is lowest as compare to
other seasons. In this TVG should try to offer the minimum rates and packages like: discount
package, stay for 3 days and pay for 2 nights and many other to the clients.
Shoulder season: It is falls between valley and peak period, and this time period is consider as
essential and best period to attract new customers as the hotel rooms are present and a highest or
medium prices can be charged. In this period, marketing and sales activity of the hotels should be
highest.
Place: It is depict is the accessibility of the services and products to customers. When
comparing to another goods normally TVG products doesn't render to clients but the audience
come to the product. In this TVG select different location with motive to deliver their services
and products to the travellers, including, outskirts of city, Hill station, resort area or a chain of
hotels with existence in multiple locations (Johnson, 2016). In this they apply indirect and direct
distribution approach in order to reach out its target and potential clients. Direct methods such as
personal telephone calls, hotel website booking system, printed media or banner advertisement.
All these are highly essential for the new venture to improve their position and goodwill in
marketplace. On the other hand they also apply indirect methods, namely; travel agent, event
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planners, independent hotel representative, online travel agent i.e. booking.com, Expeida,
Hoteliq etc.
Promotion: It is identify as an essential and important part of the marketing mix which is
apply by the each and every organisation with motive to easily attract large number of the
audience towards business products and services. In this they manager of the company is used
marketing and sales that should work out the beneficial and effective communication or
promotional mix for the firm (Hair and et. al., 2015). It is most valuable way for the new venture
in order to communicate with their target customers in a systematic manner. For this, they apply
different methods such as Brochures, Twitter channel, hotel websites, Billboards, Google+ page,
Facebook page, television commercials and many other. All these approaches are highly support
the new business in order to maintain long lasting relation with customers. In this hotel tries to
provide healthy and quality products and services to the potential and target customers, it is
beneficial for the TVG to accomplish their predetermined objectives and targets easily.
2.2 Employees/Staff
In TVG hotel, around 20 workers will be hired while taking help of human resource
consultancy enterprise. In this main motive of the hotel is to recruit candidates is to gain
maximum amount of the money. There are different employees and managers which play
important role in the organisation, these are identify as below:
Explain the job roles and duties allotted to the concern employees & role of the manager
Role play by the employees: There are different roles which are play by the employees in a
systematic manner. These are determined as below:
Teamwork: Employees play vital role in success and progress of the team. In order to
fulfil such kind of duties they attend meeting, involving to problem solving and decision making,
and contributing in business projects (Maylor, Blackmon and Huemann, 2016).
Managing the business: There are different roles, workers have the duties to handle
those process and activities that they are allotted to. Employees whose working in financial
department are liable for handling the financials of the TVG hotel.
Development: It is another role of the employees to develop different policies and
effective strategies with motive to increase customer base in the organisation. It is more essential
role for the workers to gain competitive edge within an organisation.
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Role and responsibility of the managers: In the Hotel, manager play vital role in the success and
development of the company. There are various roles of the managers which are determined
under this:
Leadership: It is one of the best and foremost role of the manager is to guide their all
employees about achievement of long term goals and objectives of company. This role highly
support the TVG in order to maintain long lasting relationship with employees.
Monitor: It is another important and foremost role which is play by the manager in order
to monitor all activities and functions of the company (Orlov, 2016). It is essential and necessary
for the business organisation to accomplish their long term objectives and goals. It also support
to maintain customer loyalty and relationship in TVG hotel.
Providing training and development: In this business manager is capable to provide
effective development and training to the entire workforce about achievement of long term
success and development of the company.
Business management is a flat structure or pyramid hierarchical:
There are two types of structure such as flat and Hierarchical. Both are essential and
important for the hotel. These are determine as below:
Hierarchical structure: It is depict as an organisation structure where an individual make
entire decision in the business (Hierarchical Structure, 2018). In this structure main motive of
the company is to encourage employees as per its performance and work.
Flat Structure: In this minimum and no level of coordination between managers and its
employees (Peirson and et. al., 2014). This structure supervises workers less while encouraging
their involvement or contribution in the process of decision making.
Both are essential structure of the organisation but TVG hotel only follow only
Hierarchical structure because in this different department are includes and work with the aim to
attain long term objectives and goals of the company. Hierarchical structure of the hotel are
shown as below:
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(Source: Hierarchical Structure of TVG Hotel, 2018)
2.3 Customers/Clients
In order to attract large number of the customers in the Hotel, manager tries to use
different promotional mix channels. This method highly support the organisation to maintain
loyalty with them. TVG hotel provide different services and products to the customers at
reasonable price such as conference facilities, Guest rooms, food and beverages, Banqueting
room and many other (Ragsdale, 2014). In this they also try to expand their business operations
at other place Hill station, resort area and many other. In this they require to provide innovative
services and products to the customers which is beneficial for them to attract large number of
clients towards business products and services. There are different tools which are follows by the
firm to attract maximum customers such as:
 Offer discounts and deals
 Word-of-mouth always works
 Start a Contest
 Online advertising
 Print and Distribute Flyers
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Illustration 1: Hierarchical Structure

All these are highly essential and significant factor for the Hotel to give important information to
the customers. This type of data is highly beneficial for the company to attract large number of
customers.
3. Future Plans
3.1 Business could enlarge in the future with the assist of correct strategies
Business expansion is more essential and significant for the hotel to accomplish
predetermine objectives and goals easily. In this TVG hotel apply two types of strategy such as
Merger & Acquisition and Francise. Both are important for them to expand their business
operations and functions in other city, country in United kingdom (Ross, 2016).
Francise: It is considering as a geographic expansion which is good for them to opening their
new venture in innovative place. In this four types of marketing strategies that should be applied
by the company. These are:
 Commit to implement the market area or place with the accurate number of stores.
 Implement an opening launch event to support business in order to accomplish and
exceed break-even. They should establish a promotion co-op which is beneficial for them to attract large
number of the customers towards hotel services and products.
Merger & Acquisition: It is another essential and beneficial expansion strategy which should
follow by the TVG. In this they decide to merge their business operation with other firm whose
are belongs in same industry. With the help of this strategy they easily maximise their sales and
revenues (Sekaran and Bougie, 2016). It is also identify as a growth strategy which assist to
expand their business operations and activities at international and national level. It is beneficial
and useful in different terms such as:
 Fills critical disparity in service or product offerings or customers list.
 Essential and effective way to obtain intellectual and talent property.
 It is a best opportunity or chance to leverage synergies (Merger & Acquisition, 2018).
 With the help of this strategy they add innovative and attractive business model.
 Merger & Acquisition save business period and long learning curves.
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(Source: Merger & Acquisition, 2018)
So it is also essential and significant for the TVG hotel to easily maximise customer loyalty and
base in the company. This method also help the business organisation to improve their success
and development in marketplace without any difficulties (Van Der Aalst, La Rosa and Santoro,
2016). These are beneficial for the hotel because these strategy reduce competition, costs and
overheads. It is also useful for the hotel in diversification of their services, products and long
term process. These scheme obtaining knowledgeable staff members of additional skills. So
these are important for them to grow and success their business at large level in an effective and
efficient manner.
CONCLUSION
From the above mentioned report, it can be concluded that expansion of the business is
more important and beneficial for them. It highly assist the business to achieve long term growth
and success. Different tools and methods are used by the new venture like McCarthy's 4P's,
communication channels and many other. All these are highly support to maximise their
reputation and goodwill in marketplace. Company apply hierarchical structure which support to
motivate their employees as well as maximise its base in the organisation for long duration.
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Illustration 2: Merger & Acquisition

REFERENCES
Books and journals
Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.
Demil, B., Lecocq, X., Ricart, J. E. and Zott, C., 2015. Introduction to the SEJ special issue on
business models: business models within the domain of strategic entrepreneurship.
Strategic Entrepreneurship Journal. 9(1). pp.1-11.
Doh, J., McGuire, S. and Ozaki, T., 2015. The Journal of World Business Special Issue: Global
governance and international nonmarket strategies: Introduction to the special issue.
Journal of World Business. 50(2). pp.256-261.
Findlay-Thompson, S. and Mombourquette, P., 2014. Evaluation of a flipped classroom in an
undergraduate business course.
Galí, J., 2015. Monetary policy, inflation, and the business cycle: an introduction to the new
Keynesian framework and its applications. Princeton University Press.
Gattorna, J., 2017. Introduction. In Strategic supply chain alignment (pp. 15-21). Routledge.
Hair Jr, and et. al., 2015. Essentials of business research methods. Routledge.
Johnson, G., 2016. Exploring strategy: text and cases. Pearson Education.
Maylor, H., Blackmon, K. and Huemann, M., 2016. Researching business and management.
Palgrave.
Orlov, V., 2016. Introduction to business law in Russia. Routledge.
Peirson, G. and et. al., 2014. Business finance. McGraw-Hill Education Australia.
Ragsdale, C., 2014. Spreadsheet modeling and decision analysis: A practical introduction to
business analytics. Nelson Education.
Ross, D. F., 2016. Introduction to e-supply chain management: engaging technology to build
market-winning business partnerships. CRC Press.
Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach.
John Wiley & Sons.
Van Der Aalst, W.M., La Rosa, M. and Santoro, F. M., 2016. Business process management.
Online
Hierarchical Structure, 2018. [Online]. Available through
:<https://www.tutor2u.net/business/reference/hierarchy>.
Merger & Acquisition, 2018. [Online]. Available through
:<https://www.slideshare.net/abreja/ma-1373553>.
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