Introduction to Business Assignment (Doc)
10 Pages2732 Words414 Views
Added on 2020-10-22
Introduction to Business Assignment (Doc)
Added on 2020-10-22
ShareRelated Documents
INTRODUCTION TOBUSINESS
Table of ContentsBUSINESS PLAN: PART 1............................................................................................................11.1 Outline business venture.......................................................................................................1Nature of business.......................................................................................................................1Discussing USP and explaining why business would have a competitive edge.........................11.2 Business Type.......................................................................................................................1Explaining formation of business type........................................................................................11.3 Research................................................................................................................................1Identifying existing competitors into the business......................................................................1Illustrating using UK and local statistical data and why there is demand for service................2BUSINESS PLAN: PART 2............................................................................................................22.1 Applying McCarthy’s 4Ps model..........................................................................................22.2 Employees/ staff....................................................................................................................3Explaining job roles of employees..............................................................................................3Listing advantages and disadvantages of Zero-hour contract workers and Agency staff...........42.3 Customers/ clients.................................................................................................................5Listing customer target market and identifying customer cohorts..............................................5BUSINESS PLAN: PART 3............................................................................................................63.1 How business can expand in the future and listing out strategies for expansion..................6Financial Projections...................................................................................................................6REFERENCES................................................................................................................................8
BUSINESS PLAN: PART 11.1 Outline business ventureNature of businessDeep Rooted Events will provide music festival events to customers so that they may besatisfied quite effectually. The business will be fruitful as people especially music lovers areattracted to such events to see their favourite stars performing live at the stage. Moreover,business idea is to plan and conduct themselves. It can be said that affordable tickets will beprovided which will enhance the customer's experience and they will be satisfied by attendingmusic festival.Discussing USP and explaining why business would have a competitive edgeThe USP of Deep Rooted Events is that it will offer variety of music events such as rock,melody, popular, pop, hip hop musics which will enhance customer's satisfaction with ease. Theywill be provided with plenty of music types that will maximise their entertainment level leadingto accomplishment of goals in the best manner possible (Getz and Page, 2016). The businesswould have a competitive edge over rivals as they all provide music festivals only of limitedmusic forms and charge higher fees. This means that by charging affordable rates, tickets will besold and business will have competitive advantage.1.2 Business TypeExplaining formation of business typeThere are various business forms which can be used to start and run the business. DeepRooted Events will be formed as company in order to attain more efficiency and productivity. Itcan be said that company form is advantageous as more flow of funds can be accomplished,larger operations can be done. Furthermore, liability gets divided or spread over owners etc. Thisis because gains and liabilities are divided among investors. Hence, this business formationwould be advantageous for firm (Jones, 2017).1.3 ResearchIdentifying existing competitors into the businessThe competencies in music and events management sector are Taylor Lynn CorporationTLC Ltd, Right Events, Assured Events, Make Events, Don't Panic Projects and several relatedcompanies are competitors of firm. 1
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Festival Business Plan Assignmentlg...
|10
|2678
|139
Business Plan Assignment - MUSIC FESTIVAL UKlg...
|11
|2669
|451
PART 11 Business Plan MAIN BODY1 Part 11 Business Types, Research of Businesslg...
|10
|2608
|480
Assignment on Business Plan (Solved)lg...
|9
|2790
|152
Business Plan Sample Assignment - Doclg...
|10
|2650
|56
Business Plan Assignment : Exotic Event Plannerslg...
|10
|2650
|48