Introduction to Business Operations and Management

Introduction to
Business Operations
and Management-
Business

Table of Contents
INTRODUCTION...........................................................................................................................3
Overview of the proposed new business idea.........................................................................3
Evaluation of external environment.......................................................................................4
Discussion of competition......................................................................................................5
Suggestion for proposed target market...................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
The changing external environment has lead to lots of threats and opportunities that can
be availed by a business in order to achieve higher competitive advantage. For this there is
requirement to fill the market gaps by identification of the scenario of market demand and no
supply of such demands of the target market of customers (Weill and Woerner, 2018). Present
report is based on developing of a new business idea by making a detailed evaluation of the
changing external environment along with a in depth analysis of the level of competition. Further
based in this discussion and analysis there is suggestions that are developed for the proposed
target market of the new business.
Overview of the proposed new business idea
The present new business idea is based on making a detailed evaluation of the way client
and customers can transform their business to a digital transformation process. The name of the
business venture that is based on assisting of the customers with development of digital solution
for people is named as “Digital solutions”.
The main idea behind this new business is based in the focus of overall strategy that will
be according to and with a aim driving of the operational customer value with higher
operational effectiveness so that there can be a thrive towards evolving world.
Main aim: The major objective of this new business is to be a popular services so that there can
be review of the present digital capabilities of business and their present business digital
aspirations across the organisations. It is related to future tech so that there can be formation of a
base line of the digital strategy and further based on that there can be a effective action plan that
can be formulated for organisations based on high customizations (Dixon, Brohman and Chan,
2017).
According to figures of Tech-jury it has been anticipated that artificial intelligence is a
market that is expected to be worth of almost 60 billion dollars in the coming time period of five
years that is 2025. UK government has developed a intention for promotion and rapid progress
of the artificial intelligence industry that us from 115 million pounds in Artificial intelligent
training at the graduate level. The market is them starring that there is a wide gap between

artificial intelligence leaders and the ones who are reaping the benefits from the improved
revenue generation of capabilities that is the AI laggards.
Evaluation of external environment
For the purpose of making a detailed evaluation of the present external environment and
the way this environment is going to affect digital solutions in both positive or negative manner.
There is a detailed evaluation that is made on the basis of application of PESTLE analysis as a
widely used framework to draw proper conclusions for the new business venture:
Political factors:
It is factor that includes the discussion based on the way political changes are going to
affect the future business decisions (Zott and Amit, , 2017). There is anticipation of higher
government spending because of the present corona outbreak that is predicted to economically
affect the changing nature of industry.
Economic factors:
It includes the economic aspects of a country that are related to the cultural changes and
demographic changes that are taking place at present moment and may continue in the coming
future time period for a short term.
Social factors:
Such as COVID outbreak has resulted into a scenario where people are preferring online
modes of shopping as it is according to the policies of social distancing and leads to prevention
of spreading of viruses. People are now ignoring the situation of large gathering or retuning to
public spaces so it leads to a situation of higher growth prospects for online form of businesses.
Technological factors:
These factors are those that are related to the advancements of technology that can affect
the business functions and operations. There are many business that are relying on use of e
commerce so there is focus on digital business. There is requirement to lay emphasis on websites
by all the brick and motor business so that there are right digital marketing activities that can be
developed for the customers. These activities will be according to the rules and norms that are
set by the government as part of COVID regulations.
Legal factors: