Small Business Management.
Added on -2019-09-20
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Running Head: Small Business ManagementSmall BusinessManagementUK Retail Sector
Small Business Management1Table of ContentsIntroduction......................................................................................................................................1Feasibility Study..............................................................................................................................11.1Critical Analysis and Evaluation of the Macro Environmental Factors...........................11.2The Breadth and Relevance of secondary or primary sources200....................................61.3Overall Case Strength for Opportunity Recognition.........................................................7Draft of Standard Business Plan......................................................................................................82.1 Business Objectives and strategy for Growing Business in the Medium Term.....................82.2 Business Model including Operational and Management Model..........................................92.3 Promotional and Marketing Planning..................................................................................122.4 Justified financial costing or forecasts and consideration of funding requirements............122.5 Innovation and entrepreneurial Focus evidence...................................................................15Conclusion.....................................................................................................................................15References......................................................................................................................................16
Small Business Management2IntroductionThe chosen sector for this paper is a retailing sector of UK. Generally, it can be said that retailingis the economic sectors of the country, employing around 2.5 million people, with retail sales of £220 billion, and operation more than 300,000 shops. The main motive behind this project is to identify the business opportunity in the retail sector. This has been done through conducting a deep analysis of the competitiveness of the sector by using PEST, SWOT, or Porter five forces model. Apart of this, a standard draft of business also has prepared. Moreover, In UK there are a large number of retailers and multinational businesses which dominate the whole sector. Thus, it can be said that retailing is a significant sector due to its social dimension and wide role in the economy of UK.Feasibility Study1.1Critical Analysis and Evaluation of the Macro Environmental FactorsCritical analysis and evaluation of UK retail sector start with an assessment of the macro environment within which an organization operates. The framework for analysis used in this paper is mainly based on three different stages. First is the identification of change influencing orkey drivers of the retail sector which is covered by conducting PEST analysis. Secondly, study competitive study of UK environment is performed with the help of Porter 5 forces model (Aguzzoni, 2016). At last, core competencies which contribute to success within retailing is studied.PEST AnalysisFactorsAgents of ChangeFuture ConsiderationPolitical Trends and Planning PolicyLand Utilization
Small Business Management3StructureBusiness RegulationE-SocietyNational Debatepolicy control over attitudes and location to issues of transportation or sustainabilityTrading activities such as employment and selling practices regulation (Yu, 2014)Awareness or capabilities, and infrastructure development for business and customersUnderstanding or perceptions of the sector structure, or behavior and ownershipEconomic Trends and StructureOpen MarketEconomic PerformancePersonal Disposable Scale at international or national level; non-UK sector ownershipRetail property and
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