Business Operations and Entrepreneurial Marketing

This assignment delves into the significance of business operations and entrepreneurial marketing in a modern organization. It highlights the importance of interacting with multiple customers, achieving significant outcomes, and utilizing online marketing activities to facilitate proper priorities and options for action. The report also discusses cash budgeting and funding arrangements for new people. It provides a detailed analysis of strategic business decisions for new business ventures and the role of supplier relationships in developing new business ventures.

Launching A new Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
P1 New venture for the chosen business through identifying specific target market and
attaining competitive analysis:....................................................................................................1
P2 Specific tangible and intangible resources that are required for launching new venture:.....2
P3 Proposal to launch new venture in business..........................................................................3
P4 Skills and capabilities required for launching new venture...................................................4
P6 Promotional activities for new venture..................................................................................5
P7 Cash budget............................................................................................................................6
P8 Legal form for the venture.....................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
New venture will provide the global for the development of small and large organization.
the main purpose to generate the positive and negative impact on small business development. It
will change the social environment. In this report, new venture are established to create at
effective workplace. It deals with the time management and different function are established
then connection between the work performance and activities. These three element are important
to launched a new venture as market speed and good visibility, effective impression. This report
focused on the small business, how the business would be explore, Cornish bakery is a small
business that has some different targets that deal with the activities. This business established in
a small level so that they are planing to market strategies and their role. This is small bakery so
that it is important to identifies the long term plan in this report. It analysis the new venture
establishment to cover all activities used in this report. It also includes the tangible and intangible
to established the new market plan in proper manner. It analysis the whole business plan and
identify market target and business strategies.
TASK 1
P1 New venture for the chosen business through identifying specific target market and attaining
competitive analysis:
They have established the new function and operation that would be applied to their work
place. In the initial level of business, It spends more money and effective quality because this is
important thing for any business (Nagy and et.al., 2017). Cornish Bakery establishes their new
pastry shop in UK and it implementing the more time and energy. There are some stages to
implemented at their work place as follows:
Know about industry: First of all, Considered the main goal and target of business and then
understand the business development strategies in small Cornish Bakery. In this small business,
the development programs are established their function and their operation to developed an
innovative idea that are helpful for the business growth. The main important thing in every small
business in which how the product quality and to understand the need of business therefore, it
can be chosen a good brand for the business because the business depends upon the effective
brand quality and their need.
Making business goals: After know about the need of business then move to the goals in which
the digital marketing determine the need of business and their objectives. At that time, every
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customer can be established their online delivery (Purkayastha and Sharma, 2016). In this way,
each customer using the new trendy product and they are acquiring the service and develop their
target market. Sometimes, lack of online product can create false impact on the Cornish Bakery.
The important need of business to create an effective website with launching the new venture so
that it is important activities used in a desired way.
Collaborative communication tools: The company establish the proper team with the help and
support to create an effective result. Employee are using the collaborative tool to implement the
CRM. Communication between in one department to another department is helpful to control the
whole business. With the help of Internal and external communication that would manage the
whole business plan and communication can be done in smooth way in sales process with the
single platform are used.
Adopt Digital marketing trends: Small Cornish Bakery need to establish their business by using
some digital marketing trends (Anderson, Evers and Gliga, 2018). Digital marketing is the best
approach to established their business in online market and audience are reached towards the
online marketing trends. This small business to improve the performance of business operations
and their function. Digital marketing is the best way to improve the performance of small
business and create the systematic way to improve the functionality.
Target market and competitive analysis-
Target market- Cornish Bakery is targeting the international market to expand their
business all over the world. It is an essential for selling their end products in global world.
Cornish bakery is a type of small enterprise that making an effective marketing strategies to
breakdown the entire planning and segmentation as per requirement of business. In this way, it
has increased the productivity and profitability in global marketplace. It is necessary for
managing and controlling the enterprise approach to establish the business or gain market values.
Cornish Bakery is breaking down the whole market planning and segment and according
to segment the market share is increases.
Competitive analysis- competitive analysis is very crucial part of Cornish Bakery to plan
the new marketing strategies and also establishing the new business in global marketplace. The
competition level is increases in market because new product is launch to expanding their
business in all around the world. The competitors and strategic are correlated each other because
new strategies are increased their profitability and productivity in marketplace. Through
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strategies, it can be easily compare to other product and services. It also checks the market
targets, goals and price of product and distribution all this thing easily identified.
P2 Specific tangible and intangible resources that are required for launching new venture:
Tangible and intangible are major assets class that balanced the company sheet. Tangible
are used for the opportunities in the company to earn the economic benefits that are represented
the lands and vehicle and it will also describe the physical existence. In small Cornish Bakery are
used the tangible and intangible resources because of developed the new venture. It will asset the
physical and to innovative the result for the organization (Seyyedamiri and Faghih, 2015). It will
describe the correct accounting terms and conditions that are important element or the business.
Tangible Resources: Tangible resources are important aspects of every new business
venture. These resources will be representing the correct functionality of the business operation
as well the opportunities. There are some economic benefits of the new venture such as making
creative output, distribution of good and services, activity of business. It will establish the rental
services like equipment’s, vehicles, buildings etc. these elements are help to identify the actual
cost of investment and valuable time of the business. Cornish bakery can be used the different
type of tangible resources that add more values in the business such as cash, land, inventory and
vehicles etc. The main purpose of business to measure the required things such as treatment
facility, building, machines and in which implements the collaborative tool in the business.
Intangible resources: Intangible resources are play important role that are used for the
future scope and their benefits. Intangible resources help to generate the effective outcome and
income at their workplace It will represent the value of brand name, patent in the whole business.
Patent is a mobile ratio that would be consider as brand name of enterprise and generate more
and earn more profits at the business. Intangible is a non-physical assets used for long term
planning. Intangible resources are included such as Copyright, Patents, Goodwill etc. Cornish
Bakery has used the Intangible resources which required for protecting the unique identify in
proper manner. The Cornish Bakery can use tangible resources to implement the element and
consider as copyright and patent etc. with the help of these aspects will continuously increase the
functionality and performance of business.
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TASK 2
P3 Proposal to launch new venture in business
In this proposal to develop the effective idea regarding the business plan and perform the
number of operations in the small business. Cornish Bakery are focused on some important
aspects that are useful for launching their new venture in market purpose:
Credible Business proposal
Feasibility of product and services:
In this case, the small Cornish Bakery are required to consider as invest the new operations. For
the business purpose, it will important to identifies the investment amount and how will manage
by the company. Small Firms are planning to implement the new technology to build the best
services and can be delivered the effective product in market. Small firms are understood the
business requirement and then improve the functioning of team.
Market need of product and Services:
After Feasibility of the product, Cornish Bakery identifies the need of product in market because
the market trend will be change according to the customer requirement. With the help of these
aspects to increase the productivity and will be developing the best result in their work place.
Profitability sold:
Product profitability will consider as an essential part of every new venture because it will
generate more revenue and can be sold more product in the market. It will create market plan and
financial statement will provide in the profitable manner.
Return on investment:
In new venture such as Cornish Bakery can be developing as the investment plan and these firm
consider as a profitable outcome and then delivered to the profitability in market. It will return
on investment with desired result will provide.
Existing management run outcomes:
The management will plan to different idea for the new venture launch. The management will
operate the business process in systematic manner and that will perform all operation in an
effective way (Purkayastha and Sharma, 2016). Small Cornish Bakery will prepare the whole
process activities and focused on how the process will executive in a step by step.
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P4 Skills and capabilities required for launching new venture
Skills and capabilities are required for the Small Cornish Bakery because it is important
for the new venture to innovate their new ideas which is possible to have an effective skill and
capabilities to handle any type of complication. Skill and capabilities are always improve the
business capability to increase the productivity and profitability in global marketplace. The
business can be run smooth when it is new Ventures is a global program that provides services
for the development of small and medium enterprises (SMEs) whose main goal is to generate a
positive environmental or social change within their own communities required to following
some manner:
Financial Planning skill: this is main element of business environment when it will
launch a new product and services in market. Small Cornish Bakery need to understood the
requirement of business and making some strategies (Acs, Szerb and Lloyd, 2017). It will create
a great plan that are useful for long term. Financial planning is very important for Cornish
Bakery to develop a new product in market that would be identified the cost of product and time.
It will identify the whole budget effectively and efficiently. In Cornish Bakery, it has required
the financial planning skill to handle entire business process for managing and controlling the
operations in proper manner. This type of skill is required for improving the financial budget,
price management in proper manner. It helps to improve the capabilities and abilities to develop
the financial reports.
Marketing Skills: Marketing skill can be play an important role for their business
because marketing is useful for the targeting, segmentation and positioning etc. There are the
advantages for the competition level in small business process. Marketing skill is also another
important of enterprise to increase the brand value in marketplace. It is the best platform to
promote the product and service in global marketplace. In this way, it has required to increase the
productivity and profitability in global marketplace.
Presentation skills: Presentation level has needed to represent the information of
enterprise to their consumer. It is important for the business communication where presentation
skill can collect and acquired the new things through global market. This is very important skills
to promoting the product detail in very effectively and efficiently. In Cornish Bakery,
Presentation skill will help for increasing the level of confidence and directly influence the
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global market to handle the task in proper manner. It has required to coordinate with other people
to determine the demand of consumers.
Building Strong network skill: It can create the strong relationship between employee and
customer The management team understand the requirement of customer that will fulfil and the
need of customer it is important part in the business process. Cornish Bakery has needed to build
a strong connection with other enterprise that support the power of business to establish across
the world. this skill will improve the quality of business to build an effective network in global
marketplace.
P5 Promotional activities and channels to support new venture
To make proper promotion, it is important to us to look towards the activities and channels
as well. It was important because, distribution element helps to develop marketing plan to get
proper attention and publicity as well (Au and et.al., 2016). Review and selling methods helps to
consider in distribution activities as regular. Location also launch to reach towards the sales and
profitability as well. Therefore, following tools implemented in Cornish Bakers support new
ventures:
 Coupons: At the workplace, the best way to increase participants. In this feature, Cornish
bakers can react through provide coupons to respond towards existing customers.
Coupons users also change towards the brand but they never leave business permanently.
In this way, the company has also privileged to repeat coupon chain brand faithfulness.
 Price off-deals: Price off superior deals in the encouragement activity as 20-25%
decreasing incentive. Furthermore, regular users often check stock up on the products. In
this should be offered some free product as premium it is helpful to interact with the
customers and their choices it is easier for the Cornish Bakers. For example, 1 small coke
with two cheese burgers.
P6 Promotional activities for new venture
Promotional activities help us to succeed systematic part of work presentation for new
venture to develop the target market and consist more products and work as well. In the
marketing function should be considered this way is product and services promotions. In element
to this, there are different types of the encouragement activities implemented that consider by the
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Cornish Bakers are such as:There are some Pre launch activity and Launch activity as given
below:
Pre -Launch activities:
Advertisement: The advertisement of products and services are very great play to role in
this it is very important if adv. Is not there how the people know about bakery advertisement is
important as well (La Rocca and et.al., 2017). Such a way, brand develop with the newspapers,
radio, television, magazines, etc. These all activities helps to succeed desirable results and learn
with the successful advertisement. It will help to make successful results.
Personal selling and telemarketing: Systematic interpersonal and communication skills
are effectively in personal selling system to relies. In the business, the knowledge of the good
products and services are assist to develop which is very helpful to us for the business. Further
this way, quality also develop to sell products with proper goodness with its benefits to attain
desired results at workplace.
Launch Activities: Publicity: further, publicity also create through sending media and releases with
broadcasting media as well. Therefore, interviews program also helps us to attain
systematic results at workplace. Dealing with broadcasting media activities with word of
mouth (Arslan, 2018). To this way, public relations also developing to make in order to
work performance in the google organization. Short term sales promotions: In the market, Cornish Bakers providing good product and
services considered with using coupons, contest, etc. Finding benefits in the business is
helping in this activity. Another helping part of the business for the profit is benefits of
coupons websites, the chosen organization can attain their targets and goals to workplace.
 Direct marketing: The direct marketing included, letters, e-mail etc. that part is helping
in the business to assist to meet with the innovative functions and operations in the
business. To this way, new people can be target who follow the business in systematic
manner (Schaper and et.al., 2014). Regarding in this, personal selling, telemarketing, etc.
consider in order work presentation in the business. Therefore, it will help to make
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innovative results at workplace of Cornish Bakers. It creates positive impact to reach
towards the target audience with right promotional mix.
From the above description, considering positive impact to target the maximum number of users
it can be stated the above combinations considered. Including other way to help us right
promotional activities and satisfy customer requirements as well (Dees, 2017). To targetting to
the market it will help in to improving results and ability to reach with multiple customers.
Therefore, the company able to increase their systematic work performance at6 workplace easily.
P7 Cash budget
In order to formulate innovative business venture, it is important to look towards the cash
flow that helps to attain desired results at workplace Always in the acc. The budget over
balanced because it’s not necessary all the time the organisation gain profit ups and down are
also there in every business. In this formation, credit needs assist to make proper working in the
business to focus on the financial organization (Covin and et.al., 2016).
Capital expenditure and activities also need to look in Cornish Bakers so that a new
business could be develop successfully. Comparison between budget program with using ratio
system and financial statement is continuously processing which make proper consistency
throughout this. It can also help us in, to maximise payment system in systematic manner at
workplace. It hence, making high profits and revenue are needed to changed. In this context,
following cash budget has been developed at workplace:
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In order to formulate attain work performance at workplace, it is important to play a role
in this towards the financial statement of Cornish Bakers. Because of this, it showing fluctuation
in the sales which turns from year to year. Work performance should be inventory through
systematic process. In this respect, budget considering a positive impact through checking
reasonable outcomes in the industry. Another important role is that to look towards the
relationship of past statement (Acs, Szerb and Lloyd, 2017). Furthermore, to make proper
attention, it includes longer aspects of the unpublished changes. There are different types of
resources considered t6o the workplace that assists to meet with the gross sales and other
potentiality sources at workplace. All the times the cash should be reserve in the manner of to
minimise cash balance to drawn the cash whenever it is needed. Amount is also depending on the
estimated future cash flow that make positive outcome on the functioning.
P8 Legal form for the venture
Whenever a business man he started a new business, every organization need to follow
legal structure in which form included to protect the future performance. At workplace, the
systematic work to attain to considered the performance of the industry. It also helps to make
sure that in order to do work execution to developed results.
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Cornish Bakery is a small enterprise that can formulate legal form, at workplace,
developing a different functions and operations to attain more profits and revenue at workplace.
Once the business was selected related the Bakery shop so that it has considered the legal form to
connect with partnership in the form of increasing the business activities. Cornish Bakery has
considered the Limited Lability which are restricted on the partnership for managing and
controlling the professional practices because the small business many depend on the partner
speaking which have unlimited liability for the country.
Main aspect of partnership should be in a legal form which is helpful to attain desired
results at workplace. In this formulated way, two owners exist for one business only not to others
one also can do. Furthermore, profits and losses flow directly among the partners (Acs, Szerb
and Lloyd, 2017). Tax returns policy, in term of general return it should be look towards among
them. Various configuration of the profits partnerships considers different types of consideration
so it includes debts and liabilities. It also helps to reach diffuse profitability among the partners.
There are two types of generally partnerships included such as general partners who possess
unlimited liability with passive inventors who are not participating and liable only for extent of
their investment. Silent investors considered common arrangements. On the another hand,
another person considers restricted liability partnership which often managing professional
practices. Business investment depends on speaking partners have unlimited liability for the
actions.
The termination of partnership the partners must be write about the specific terms and
conditions to terminate the partnership. In this respect, specific responsibility, decisions, roles,
etc. can be share among the people so that the chosen business able to attain systematic work
performance at work place. Moreover, business enterprise investment can impact negative role in
bad agreement. Limited Liability allows to follow some rules and regulations in proper way. For
Example- the customer should be formed a book store, food store and other business. It is
required to follow different law's partnership agreement, operating agreement and that would be
contain many information regarding their cooperative features.
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CONCLUSION
In the above report, it understood that launching a new venture is the bigger task
for establish new operations and functions. In this brief, the important6 part which the
organizations have to look is towards the multiple customers and attain more significant
outcomes in the business organization unit. Environment of the business with modern strategy
has to be well played a great vital role in this. Online marketing activities also helps to interact
proper priorities and another options of the plan of action that implemented to make effectual
operative at workplace. Moreover, it summarized about the tangible and intangible resources that
assists to perform in order to work performance in new project. Cornish Bakers have promoted
their operations and functions to make a wide area of restaurant to successful in this project to
gain a lots of profit in this it’s very difficult to begin a new venture from the old once but it was a
great role played by the business man. Report also articulated about the cash budget that help to
target new people with proper funding arrangements.
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REFERENCES
Books and Journals
Acs, Z.J., Szerb, L. and Lloyd, A., 2017. The global entrepreneurship and development index.
In Global Entrepreneurship and Development Index, 2017, (pp. 29-53). Springer, Cham.
Andersson, S., Evers, N. and Gliga, G., 2018. Entrepreneurial marketing and born global
internationalisation in China. Qualitative Market Research: An International Journal,
21(2), pp.202-231.
Arslan, M.Y., 2018. Strategic business decisions for new business ventures. Michael Porter’s
series of strategy tools and frameworks.
Au, K., and et.al., 2016. Entrepreneurial financing in new business ventures: a he
lp-seeking behavior perspective. International Entrepreneurship and Management
Journal, 12(1), pp.199-213.
Covin, J.G.,and et.al., 2016. Learning Proficiency and the Navigation of New Business Domains
by Internal Corporate Ventures. In Academy of Management Proceedings (Vol. 2016, No.
1, p. 11045). Briarcliff Manor, NY 10510: Academy of Management.
Dees, J.G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.
La Rocca, A., and et.al., 2017. The role of supplier relationships in the development of new
business ventures. Industrial Marketing Management.
Nagy, G., and et.al., 2017. Achieving requisite variety in modeling firms' strategy
heterogeneities: Explaining paradoxical firm-market performances. Industrial Marketing
Management. 65.pp.100-128.
Purkayastha, A. and Sharma, S., 2016. Gaining competitive advantage through the right business
model: analysis based on case studies. Journal of Strategy and Management. 9(2). pp.138-
155.
Schaper, M.T., and et.al., 2014. Entrepreneurship and small business.
Seyyedamiri, N. and Faghih, N., 2015. Studying entrepreneurial marketing for information
technology SMEs based on the classic grounded theory. QScience Connect.p.9.
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