Small Business Management PDF
Added on 2020-09-17
12 Pages2781 Words62 Views
Small BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1Justification of chosen sector and opportunity recognition.............................................................11.1................................................................................................................................................11.2................................................................................................................................................31.3................................................................................................................................................3Analysation of sector and business plan..........................................................................................42.1 Clarity of business objectives and growth strategy for medium term...................................42.2 Business model......................................................................................................................42.3 Promotional and marketing planning....................................................................................52.4 Financial forecasts and justification of costing.....................................................................52.5 Proof of innovation and entrepreneurial focus......................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONNumber of small business organisations are continuously increasing in UK. These firmsface various kind of issues at the time of starting a new business because of various reasons likeinexperience, lack of information about different stakeholders etc. “Beauty salon” is a newventure who is going to use online promotional tools and latest technology for achieving mediumterm grow in highly competitive market (Colombo and et. al., 2012). Beauty parlour is a industrywhich have seen remarkable growth in past few years. This business report will cover significantcontent related like SWOT analysis, porter's five force etc. Justification about recognizedopportunity will also become part of this file. Business model, growth strategy andentrepreneurial focus is the key content which will be included in this assignment. At the end,financial recognition will be explained (Business Plans, 2018). Justification of chosen sector and opportunity recognition1.1Nowadays there is a tremendous scope in beauty industry in UK. Beauty Salon wants toconstruct its empire in cities of UK. They main focus is on youth of a nation through providingthem products and service at affordable rates at neighbourhood place. SWOT Analysis : Their strength belongs to their leaders,they are of excellent leadership as well as communication skills which came from experience. Their main professionals are fully experiences and trained person. There might be a weakness in field of customers perception towards newly opened salon .There are huge opportunities in market because now youth generation are more concerned about fashion and beauty. Threats may arise is if this organisation will not focus on youth as well as market demands. External factors :There are so many factors like political, environmental, economical, social,technological and legal arises during the constructions of new empire of Beauty Salon throughout UK. These all factors will helps an organisation in monitoring and tracking all business 1
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