Analysis of Innovation and Commercialization Productivity

The provided text is an academic publication that analyzes the effects of labor unions on innovation and commercialization productivity. It uses an integrated propensity score matching and two-stage data envelopment analysis to study the relationship between labor unions and innovation-commercialization productivity. The authors also discuss the commercialization of technological innovation, taking stock and moving forward. Additionally, the text presents research on optical properties, perovskite solar cells, synthetic approaches to quinazoline and quinazolinone skeletons, and other topics related to innovation and commercialization.

LAUNCHING A NEW
VENTURE

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Resources required for launching of new venture.................................................................3
P2 Tangible and intangible resources required in organisation..................................................4
TASK 2............................................................................................................................................5
P3 Effectiveness of new venture in an organisation ..................................................................5
P4 Skills and capabilities required for new ventures .................................................................6
TASK 3............................................................................................................................................7
P5 Promotional activities to support launch of new venture ......................................................7
P6 Promotional activities for launch and pre launch of start up for United Fast Food..............9
TASK 4..........................................................................................................................................10
P7 itemised cash budget for company .....................................................................................10
P8 Legal business of United fast food.......................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Globalisation is a major factor which has provider opportunities to for many small scale
business to grow in market. These company can form new venture and expand their business in
new territories. With advancement of technologies, many small scale organisation have started
and grown in business (Breznitz and Etzkowitz, 2017). In the give task we have chosen United
Fast Food and discuss several factors like resource management, skills and knowledge, financial
capital, promotional and pricing strategy of business. Before starting a business the company
must make sure that they have covered all legal aspect and government policies of the particular
place.
TASK 1
P1 Resources required for launching of new venture
In current market, due to increase in globalisation, it has given more opportunities to
small industries to invest or setup their business in new competitive market. This assessment
discuss about a new start-up in food and drinks company called United Fast Food. For a
company to grow in market they must analyse different factors of competitive market so that
they can prosper effectively in their business. All the factors and elements required to be success
in new market has been pinned down (Chun and et. al., 2015).
Target market – As the company is dealing in fast food and restaurants they have
analyses different market places in all over London. They have selected Kensington which is one
of the high profile residents and many memorial buildings like Kensington Palace, Science
museum and Albert hall museum. Due to these this place has become an important tourist
destination and high profile resident’s area. Starting their business in this area will aid them to
gain more profit in their new start up. They need an appropriate segmentation of the market that
is based on customer behaviour, age, gender, occupation, religion and lifestyle, etc. which assist
in target buyers in better manner. The firm target customer are adults, youngsters and children's
and they spend around 200 euro per month for buying products and services.
Competitive analysis – Before setting up their business in the area the analytical team
must make sure that they have analysis competitive market and competitor in that place. They
have analysed that they have to face stiff competition from other food related business like Leon,
Five Guys, and McDonald. The companies have already made their base in that region and doing

well. So the company have uniqueness in food and drinks to beat their competitors (Datta,
Mukherjee and Jessup, 2015).
Strategy to analyse market- For analysing a market certain measures must be taken in
account which includes-
 Globalisation is a major factor which has provider opportunities to for many small scale
business to grow in market. These company can form new venture and expand their
business in new territories. With advancement of technologies, many small scale
organisation have started and grown in business. In the give task we have chosen United
Fast Food and discuss several factors like resource management, skills and knowledge,
financial capital, promotional and pricing strategy of business. Before starting a business
the company must make sure that they have covered all legal aspect and government
policies of the particular place (Ghimire and et. al., 2015).
P2 Tangible and intangible resources required in organisation
So establishing a business both tangible and intangible resources are requires for smooth
functioning of business.
 Tangible resources – These includes resources like building, land, manufacturing
equipment, vehicles etc. In terms of start-up it required require tangible resources which
related to their business some of them includes rented shop, utensils, appliances for
manufacturing of food items. Having adequate tangible items will help to make and add
more food item in their food chart and increase their productivity, in other sense they
must have good amount of asserts for making smooth flow of business e.g. Suppose they
want to add features like home delivery they must have vehicles and employees for factor
deliver. This will increase their capability in business market (Ke and et. al., 2016). In the
restaurant, the tangible resources are telephone, table, chair, infrastructure, etc. which
attract customers.
 Intangible resources – These are the assets which cannot be seen but plays effective role
imagining business activity. Some of the intangible resources are like knowledge,
intellectual ability and connections, patents, trademarks and copyrights. These factors are
useful in tackling different practices in market place. Better implementation of intangible
factors in their policies and planning will aid them to plan better in their marketing
strategies in their business policies. In the United Fast Food restaurant, there are various

intangible resources such as advertisement, insurance, legal and professional fees,
maintenance, repairs, etc.
 For an owner, it is very important to consider both tangible and intangible factor
in their business policies do that they can have a better approach in competitive market. It
is obvious that they want to start their business in a posh area they need better asserts and
business policies to compete in market place.
 They must make sure that while dealing with tangible and intangible goods they
must also follow legal framework which are attached to these business e.g. they must
have a legal and registered business activity with proper licensing of all their movable
and immovable asserts (Khan and et. al., 2015).
TASK 2
P3 Effectiveness of new venture in an organisation
 After the start-up has flourished in market an organisation must ensure that it
deeply penetrate new market and make success effectively. The organisation must plan to
increase their business in new market. The company can plan to new ventures and start-
ups in new business market. They can have new start-ups in Chelsea also where they can
get good value of their start-ups. Chelsea is an important sporting place so there are lots
of traveller and sports loving people come there and do their business. That place can
give organisation better revenue resource because people from all age groups and
different culture comes there so better investment in that venture will help them to earn
more. But the main challenge for this is their corporation will face more challenges from
other competitor in that area (Koirala and et. al., 2016). To overcome them they must
make sure that they use some distinct policy and add uniqueness to their food item which
will make them stand apart and stand tall in their market.
Featured food items -
 By analysing market in Chelsea it is being found that that market is full of junk food.
Every other restaurant is making and selling junk foods at high cost. So instead of selling
junk food items United Fast Food must add organic foods in their food list e.g. the food
company must increase use of vegetables in their foods and add Asian Herbs and Spices
which have good health benefits. Providing and promoting use of healthy food will

increase their sales as many people are very health conscious and select their diet more
specifically. For reducing costing of their food items and increase organic food items.
The food company must plan to do organic farming and use those products in their
business. It will enrich taste of their products and reduces cost of production. There are
certain food items which can be implemented are organic burger, cheese and chips. They
can also use organic butter and wheat flour for making roles (Kuratko and Hoskinson,
2016).
 The strategy of adopting organic product will boost their sales and productivity in
business market and intimately they can grow further in new business market.
 Competitors weakness and strength
 Strategies used by competitors
 Market structure and outlook
 Product of competitors
 want to start their business in a posh area they need better asserts and business policies to
compete in market place. Place of doing business.
For doing better in market an organisation must make sure that they cover all aspect in
analysing the market where they want to invest so that they can make effective planning and
strategies and implement in their in marketing strategies.
P4 Skills and capabilities required for new ventures
A start up must have effectual business skills which they can implement in their business
activity while launching their business in market. Brexit will play important role in business in
all over UK because government is planning to support small scale organisation and start ups .
Certain skills and capabilities which must be considered while having a start up are as follows : Financial management – Before starting a business an organisation must calculate their
asserts in business. The business must implement some financial strategies in their
business for an effective start ups for doing it effectively they determine certain factors
like market size, investors, risk and uncertainty,budget, asserts and liabilities which will
aid them for better for making better financial planning. Sales, Marketing and customer service – For every entrepreneur it is a wish that they
make collect abundance of revenue and increase their brand value. They van make certain
provisions for increase their sales in market and generate goodwill in market. In

development policy of United Fast Food they can increase their goodwill in market by
enhancing their marketing policy and service Negotiation and communication – For better regulation of business a new start up must
better communication to handle deals and negotiation in their business. A better
communicating owner or manager can explain their views to their subordinates which
can help in motivating their employees and transfer their goals and motives to their
employees. Leadership – For growth and sustainability of organisation top level management should
adopt better approach in their leadership style in their business activity which aid them
for better management of internal and external organisational structure. For development
of United Fast Food democratic style of leadership will be very helpful where every
employees is given values and their views and suggestion are respected and implemented. Project management – The top level management must be skilful enough to manage a
project in a venture in more professional way e.g. the fast food company wants to
increase their venture in Chelsea so all the factors are managed and analysed properly. Time management – For a start up time management plays a very vital role in managing
their business. Better time management will allow the company to have better approaches
and planning in managing their business. Time management will also suggest enterprise
to understand right time to enter market where they can have competitive advantage in
market (Koirala, 2016). Problem solving – Management of a start up must be skilful to understand problems
which prevail in business activity. Sticking to one problem for longer time problem will
not help them to be productive in market place.
 Networking – Food and drinks company should have better networking between different
sector of their organisation and also with other company to increase their capability to
make profit in market for longer time.
All these factors have both merit and demerit, so they can be implemented after proper
analysing different factors in their enterprise.

TASK 3
P5 Promotional activities to support launch of new venture
There will be a total change of policies and strategies for doing business in market after
UK moves out of EU. So United Fast Food must adopt different promotional strategy to increase
their market. Government of UK is providing funds and easing business policies for start ups
which will hell small scale organisation and start-up to establish and groove in market place.
Corporation can use different mediums of increasing their sales in market. The organisation can
Some common types of promotional activities are
 Advertising – It is about advertising the business, services, brand endorsement, television
and magazines
 Telemarketing and personal selling – an effective interpersonal and communication skills
will allow any organisation to fetch more customer in their business.
 Publicity – It is established use of media for broadcasting about their venture (Kuratko,
and Hoskinson, 2016).
 Short term sales and promotion activities – It is about marketing about product through
coupon, contests and competition. It will help company to establish themselves among
the people.
 Direct marketing – these practices can make several several practices like letters,emails,
pamphlets and telemarketing.
Enterprise can also use certain online marketing strategies
 Social media – there are many popular social media like twitter, Facebook, Instagram,
these social media have vast market reach hence they can be important marketing tool in
business market (Liao, 2016).
 Pop – ups advertisement – Pop up advertisement and flash messages are the latest way of
promotion of business. This is very cheaper and have psychological effect on minds of
people. They comes and goes between an app in a flash at a moment when people are
concentrating on sometime so it will have an huge impact on mind for a longer period of
time
United Fast Food can use the online and offline marketing strategies which have been
discussed above. These practices are trending in current market for gaining competitive

advantage in market place. These processes have more advantages than disadvantages in while
performing in business market.
P6 Promotional activities for launch and pre launch of start up for United Fast Food
Promotion will help United Fast Food to increase their popularity and value in market.
The company must have better planning for launching their product in market. Their planning
must consider promotional activity in before launching their product inn market and at the time
of sates of market (Pan, 2016).
Promotional activity before launching their product must consider some factors like Product analysis – A company must know about their product very well on which they
are investing e.g. United Fast Food is investing in fast food items so they have to
understand their product and how they can make their business with these products. Market analysis- Before launching of their product in business market the organisation
must know that they have analysed the market in in a proper way. They must analyse size
of business market, type of competitors and what type of products their competitors are
dealing in. Financial base – The company must understand their budget in performing their
business. The organisation must analyse those factors where finance is needed apart from
that company must make sure that they have strong base to sustain in changing market
environment. Before entering a marker company must measured those element which
involves risk and uncertainty (Paradkar, Knight, and Hansen, 2015).
 Merchandising – Company must try to participate and sponsor some local events to
increase their popularity before entering a specific market place.
Elements must be included at the time of launching of product are as follows.
Strategic positioning- After launching product in business market it must be make sure
that have adopted the market as soon as possible by properly directing their planning and
strategy in effectual way.
Brand development - United Fast Food must develop their brand as quickly as possible
in market. They have entered the market with organic fact food hence they must try to increase
it popularity by enriching its taste and making people aware about its health benefits.

Web Presence – They must make their own websites where all details about their
business activities are mentioned. Organisation must also make online delivery option in their
portal which will make them apart from other food and restaurant company.
Digital PR and partnering – company must try to make their presence in social media
and blogger sights regularly hence it will inverse their popularity and it will be easier to expand
their new business areas (Paudel, Xiao, and Yan, 2015).
These are some the activities which must be adopted at the time of launching and pre
launching strategy of a start up.
TASK 4
P7 itemised cash budget for company
Jan – may
Year 2013 Jan Feb Mar April May
Food Sales 37,820 38,147 40,103 42,060 43,038
Beverage Sales 18,650 13,650 14,349 15,049 15,399
GROSS SALES 56,470 51,797 54,453 57,109 58,437
Cost of Sales
Food 14,525 12,589 13,234 13,880 14,202
Beverage 6,515 3,412 3,587 3,762 3,850
TOTAL COST OF SALES 21,040 16,001 16,821 17,642 18,052
GROSS PROFIT 35,430 35,796 37,631 39,467 40,385
General and Administrative
Intangible resources:
Employee Salaries 14,118 12,949 13,613 14,277 14,609
Management Salaries 3,400 3,400 3,400 3,400 3,400
Employer Taxes/Benefits (15% Wages) 2,102 1,962 2,042 2,121 2,161
Workers Compensation (6% Wages) 1,051 981 1,021 1,061 1,081

Advertising 800 800 800 800 800
Bookkeeping 150 150 150 150 150
Credit Card Charges (1%) 565 518 545 571 584
Insurance 250 250 250 250 250
Legal and Professional Fees 100 100 100 100 100
Misc. Other 250 250 250 250 250
Office Supplies 175 175 175 175 175
Rent 3,200 3,200 3,200 3,200 3,200
Repair and Maintenance 300 300 300 300 300
Tangible resources:
Chair 200 200 200 200 200
Telephone [phone]
Infrastructure 200 200 200 200 200
Table 1,200 1,200 1,200 1,200 1,200
Total Gen. and Admin. (Fixed) 28,210 26,785 27,595 28,405 28,810
NET PROFIT OR LOSS 7,220 9,011 10,036 11,062 11,575
SBA Loan 3,582 3,582 3,582 3,582 3,582
Cash Flow After Financing 3,638 5,429 6,454 7,480 7,993
Draw 4,000 4,000 4,000 4,000 4,000
Net Cash Flow (362) 1,429 2,454 3,480 3,993
Accumulated Cash Flow 1,066 3,521 7,000 10,993
Average Daily Sales / 22 days 2,567 2,354 2,475 2,596 2,656
Pre launch cash budget
Cash Flow budget
Particulars Jan Feb Mar Apr May June J
Cash inflows

Investment 8000
Opening balance 0 5700 2400 400 3800 2250
Total inflows 8000 3000 3000 4500 1500 3500
Cash outflows
Fixed : Equipment’s 2000 2700 600 4100 2300 1250
Variable : Direct material 300 300 200 300 150 500
Total outflows 5700 2400 400 3800 2250 750
Net cash flow 5700 2400 400 3800 2250 750
closing balance 5700 2400 400 3800 2250 750
Post launch cash budget
Particulars Jan Feb Mar Apr May June J
Cash inflows
Investment 8000
Credit sales 1200 2000 7500 3000 5000 6500
Total inflows 9200 2000 7500 3000 5000 6500
Cash outflows
Fixed : Equipment’s 2500 1200 1500 2500 1100 1500
Variable : Direct material 350 300 250 150 100 500
Total outflows 2850 1500 1750 2650 1200 2000
Net cash flow 6350 500 5750 350 3800 4500
Opening balance 0 6350 5850 11600 11950 15750
closing balance 6350 5850 11600 11950 15750 20250

P8 Legal business of United fast food
Every business in market must ensure that they have legal structure. United Fast Food is a
business of sole proprietorship.
sole proprietorship- It is a type of business activity where only one person is responsible for all
the business activities he does. The person takes all the decision related to business and is solely
responsible for risk and management practices in their business.
In fast food company the owner has a very good financial base so he can able to
manage all risk involve in his business. The person has analysed several business activities and
manage market. He has to follow some factors in both internal and external surroundings. Being
a sole proprietorship the person must be responsible for handling every legal aspect of
organisation.

CONCLUSION
By analysing different factors of this assessment one can conclude that it is very critical
to analyse market and competitor before entering a business. The United Fast Food has expanded
its operations in new areas against which different strategies has been followed which are
relearnt to starting anew business venture.

REFERENCES
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