Small Business Management Assignment Report

Added on - 28 May 2020

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Running head:SMALL BUSINESS MANAGEMENTSmall Business ManagementName of the Student:Name of the University:Author’s Note:
2SMALL BUSINESS MANAGEMENTExecutive SummaryThis report reveals the business planning for Fashion Fiesta, which is a new venture and going tointroduce their product via online. In order to get a significant growth in their business, they havedecided to follow low pricing strategy and discount policy to cover a large range of customers.Therefore, they have planned to offer some creative products for the women especially for theage group of 17to 25 years. On the other hand, they also want to reduce the operation cost toincrease their profit margin. However, sustainability strategy will be taken to make their businessenvironmentally friendly.
3SMALL BUSINESS MANAGEMENTTable of ContentsIntroduction......................................................................................................................................4i) Discussion of the opportunity reorganization in the context of Fashion Fiesta...........................4ii) Analysis of the risk associated with the business of Fashion Fiesta...........................................6iii) Discussion of a standard business plan......................................................................................7References......................................................................................................................................13
4SMALL BUSINESS MANAGEMENTIntroductionA business plan is a document that is developed for revealing the specific details in abusiness. A business plan includes the business opportunity, business description, financialinformation, market strategies and competition analysis (Zolloet al.2017). For an organization,it is important to change their old business plan and to incorporate a new business plan to meetthe demand of the current market. To give the shape a start-up business it is important for abusiness owner to develop a specific business plan to get a competitive advantage in the globalas well as local market. This study deals with business planning in the context of Fashion Fiesta,which is an online fashion vintage business in UK. This is a new venture and going to develop abusiness plan to get a good business in the online fashion industry.i) Discussion of the opportunity reorganization in the context of Fashion FiestaUK is unique for its fashion trend as the fashion industries of this country are innovativeand creative. However, the UK fashion industry offers high brand and casual wears, which arenot so much expensive. The fashion brands of UK are popular for their unique twists(Thecreativeindustries.co.uk 2018). Fashion Fiesta is a new venture that is going to start theironline fashion business in UK. They are going to introduce mainly women clothing products andaccessories through online marketing. In order to develop a better business plan, thisorganization needs to understand the socio-cultural and technological factors of UK to identifytheir opportunity. The consumer fashion trend of UK focuses on the ethical clothing andenvironmentally friendly clothing (Nibusinessinfo.co.uk 2018).This fashion trend gives a bigopportunity to Fashion Fiesta to grow their business in UK market. However, development ofethical and environmentally friendly clothing will be a good approach for Fashion Fiesta to cover
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