Small Business Report - Cornish Bakery
Added on 2020-07-23
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Launching A new Venture
Table of ContentsINTRODUCTION...........................................................................................................................1P1 New venture for the chosen business through identifying specific target market andattaining competitive analysis:....................................................................................................1P2 Specific tangible and intangible resources that are required for launching new venture:.....2P3 Proposal to launch new venture in business..........................................................................3P4 Skills and capabilities required for launching new venture...................................................4P6 Promotional activities for new venture..................................................................................5P7 Cash budget............................................................................................................................6P8 Legal form for the venture.....................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONNew 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. Itwill change the social environment. In this report, new venture are established to create ateffective workplace. It deals with the time management and different function are establishedthen connection between the work performance and activities. These three element are importantto launched a new venture as market speed and good visibility, effective impression. This reportfocused on the small business, how the business would be explore, Cornish bakery is a smallbusiness that has some different targets that deal with the activities. This business established ina small level so that they are planing to market strategies and their role. This is small bakery sothat it is important to identifies the long term plan in this report. It analysis the new ventureestablishment to cover all activities used in this report. It also includes the tangible and intangibleto established the new market plan in proper manner. It analysis the whole business plan andidentify market target and business strategies.TASK 1P1 New venture for the chosen business through identifying specific target market and attainingcompetitive analysis:They have established the new function and operation that would be applied to their workplace. In the initial level of business, It spends more money and effective quality because this isimportant thing for any business (Nagy and et.al., 2017). Cornish Bakery establishes their newpastry shop in UK and it implementing the more time and energy. There are some stages toimplemented at their work place as follows:Know about industry: First of all, Considered the main goal and target of business and thenunderstand the business development strategies in small Cornish Bakery. In this small business,the development programs are established their function and their operation to developed aninnovative idea that are helpful for the business growth. The main important thing in every smallbusiness in which how the product quality and to understand the need of business therefore, itcan be chosen a good brand for the business because the business depends upon the effectivebrand quality and their need.Making business goals: After know about the need of business then move to the goals in whichthe digital marketing determine the need of business and their objectives. At that time, every1
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 theirtarget 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 sothat it is important activities used in a desired way. Collaborative communication tools: The company establish the proper team with the help andsupport to create an effective result. Employee are using the collaborative tool to implement theCRM. Communication between in one department to another department is helpful to control thewhole business. With the help of Internal and external communication that would manage thewhole business plan and communication can be done in smooth way in sales process with thesingle platform are used.Adopt Digital marketing trends: Small Cornish Bakery need to establish their business by usingsome digital marketing trends (Anderson, Evers and Gliga, 2018). Digital marketing is the bestapproach to established their business in online market and audience are reached towards theonline marketing trends. This small business to improve the performance of business operationsand their function. Digital marketing is the best way to improve the performance of smallbusiness 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 theirbusiness 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 tobreakdown the entire planning and segmentation as per requirement of business. In this way, ithas increased the productivity and profitability in global marketplace. It is necessary formanaging 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 accordingto segment the market share is increases.Competitive analysis- competitive analysis is very crucial part of Cornish Bakery to planthe new marketing strategies and also establishing the new business in global marketplace. Thecompetition level is increases in market because new product is launch to expanding theirbusiness in all around the world. The competitors and strategic are correlated each other becausenew strategies are increased their profitability and productivity in marketplace. Through2
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