Launching A New Ventures: Assignment
Added on 2020-10-22
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LAUNCHING A NEWVENTURE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Measure and specify new venture identifying particular target markets and undertaking1P2 Tangible and intangible resources needed for establish a new venture............................3TASK 2............................................................................................................................................4P3 Incredible proposal to launch a new venture.....................................................................4P4 Ability and capabilities necessary to develop up a new venture and how it is acquired. .6TASK 3............................................................................................................................................6P5 Various promotional action and channels to assist the launch and justify prime.............6P6 Suitable promotional functions plan for both launch and pre-launch...............................7TASK 4............................................................................................................................................8P7 Cash budget for the pre launch phase of the entity...........................................................8P8 Appropriate legal form for the company.........................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONScope of entrepreneurship has been developed in organisational context. Mainlyentrepreneurial skills indicates towards emerging the scope of introducing new business ventureassisting or boosting new business from its base level to next level. Innovative ideas andapproached are the main sources to lead the operations and management of organisation in termsof building new ventures with in the organisation. It is one of the essential aspect in terms ofmanaging the operations and effective management in terms of analysing the possibility ofgrowing the business in international market (Barringer, 2015). This report is prepared to define the concept of entrepreneurship skills and abilities interms of launching a new venture or expanding the existing structure of business in market. Newventures specific targets and undertakings are defined in competitive analysis. Type of tools andsources are defined in terms of building a new venture defined in this report. Skills andcapabilities which are required to develop the new business venture included in this report. Anappropriate legal form and compile a budget for launch. Appropriate legal solution to compilethe budget with in the organisation. Serving fresh restaurant is chosen sole proprietorshipbusiness in terms of expanding the business at next level. TASK 1P1 Measure and specify new venture identifying particular target markets and undertakingEntrepreneurship and leadership skills are mainly associated with building and emergingthe scope of building new business venture or expanding new business. It is seen that foodindustry is booming day by day and people are becoming fitness conscious subject to develop thebusiness plan. As per analysing of public trends and scenarios it is seen that fresh food industriescan be a better option in organisational context to develop and emerge the structure of business.Serving Fresh restaurant is one of the sole proprietorship idea to be developed or launched in theUK market. This restaurant is to be launched in Camden Market in London. There are type ofinformation and details were gathered from public to analyse the perspective of public andcustomers (Klotz and et. al., 2014). Identifying the appropriate location to launch this venture was the main challenge.Because location plays vital role in terms of gain customer attraction. For building the structureof Serving Fresh restaurant requires an area of 1200 square feet near by Camden Market in1
London. Large number of crowd and public is the main reason of opting the Camden Market inLondon. Customer attraction and appearance in the main element for the organisation. Asproprietors wants to build up the new sole proprietorship to get complete control The budget for this venture plan is set up to £500000 to £550000. the followingobjectives are as follows To build a customer market in London food industryProvide effective quality and food itemsTo earn large numbers of profits for the benefits of stakeholders and organisations.To create a clear vision and new brand image with in the UK market to attractemployees..Mission: Providing fresh and emerged quality products and gaining the customersatisfaction will be the main objective of Serving Fresh restaurant.Target marketIt is one of the essential aspect in terms of expanding and grow the market. Target marketindicates towards the market position to whom the products and services are provided too. Thisis the main concept of managing the operations and functions of organisation for better growthand development. Customer perception and customer trends are the main part of growing thecustomer market. Focused Analysis:- It is consider as a basic piece of organization's advertising design.With the assistance of this, business visionary can without much of a stretch figure out what arethe centre factors that makes their item not the same as that of contender's one. Foodies Corner isincreasing high upper hand for serving a first historically speaking mix of veg blend organicproduct kebab. In spite of the fact that the wander is new yet at the same time they have a fewadversaries who are giving them solid rivalry (Fisher and et. al., 2017). Along these lines, whatascribes business visionary needs to considered while drawing in expansive number of client. Sothe individual firm is require to detail designs and procedures in like manner. Market Analysis:- It plans to recognize showcase engaging quality both in present andfuture day and age. There are unmistakable contenders that are accessible in market and servingcomparable kind of items. Business break down future market engaging quality by knowingadvancing dangers and openings identified with it. Since the organization will present veg blendnatural product kebab, they have to explore every conceivable open door worried about it and2
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