New Business Plan Based in Central London
Added on 2020-06-05
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New business plan based in central London. Business dedicated for students
Table of ContentsTASK 1............................................................................................................................................1PART A Business Idea................................................................................................................1PART B............................................................................................................................................2Four most important objectives of new business Venture.........................................................2TASK 2............................................................................................................................................2PESTLE analysis.........................................................................................................................2TASK 3............................................................................................................................................3Part A Launching of an event......................................................................................................3Part B Preparing a budget...........................................................................................................4TASK 4 ...........................................................................................................................................4Marketing objectives...................................................................................................................4TASK 5............................................................................................................................................5Strategical, operational and tactical decision .............................................................................5TASK 6............................................................................................................................................5Supply chain ...............................................................................................................................5REFERENCES................................................................................................................................7........................................................................................................................................................................................................................................................................................................................................................................................................................................
TASK 1PART A Business IdeaThe present business idea is to open a retailing book store near university, providingonline educational material and second hand online books. In addition to this business owner hasalso planned to provide subscription services where students will get a study survival kitdelivered to them at their homes or libraries during high stress periods or during exams. Businessowner has decided to form partnership with university, As this will help business entity inincreasing competitive strength and increasing its sustainability in the market. This strategyadopted by the business owner will help in promoting the goods and services. It will also help anorganisation in motivating students to access the online educational products or services. Lessonwhich are to be taught to the student will be designed according to the syllabus provided by theuniversities. Business owner will also seek supports from the management staff and teachers inuniversity for preparing the lesson and encouraging students to use online platform to gainadditional information or increase their knowledge about the particular field. The location ofphysical book store will be near the colleges as well as universities (Sowkarthika, Tiwari andSingh, 2018)This area has been selected in order to provide students an ease to access theeducational resources as well as products which are not available in the library of university.Opening the online and physical book store will help in catering the education as well asdevelopment need of children or students. As the educational sector or industry is very big, thereare already many big organisation are operating and these firm has already captured wide marketshare in the London (Clegg, 2018) Some of the competitors are Water stones, who is the retailerof academic books, Educational sector is growing at very rapid rate and this trend will continueto be developed in the future as well. This business ideas have been selected on the basis of thefact that there are many poor students those who do not have the access to educational resourcesdue to bad economic condition but they have desire to study. This business ideas have beendeveloped by analysing the situation and fact that if poor student or children provided withAppropriate resources or study material, such children will get the chance to get education thenthey can also make their significant contribution in development of society as well as nation(Mazza and Quattrone, 2017)1
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