Business Essentials Assignment of Curry

Added on -2020-02-12

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BUSINESS ESSENTIALS
Table of ContentsBUSINESS ESSENTIALS..............................................................................................................1Introduction .....................................................................................................................................3Part 1...........................................................................................................................................3Part 2...........................................................................................................................................4TASK 2............................................................................................................................................5PESTLE Analysis........................................................................................................................5Defining launch event.................................................................................................................7TASK 4............................................................................................................................................8Marketing objectives and strategies............................................................................................8TASK 5............................................................................................................................................9Different decisions in the business..............................................................................................9TASK 6............................................................................................................................................9Supply chain................................................................................................................................9Conclusion.....................................................................................................................................10REFRENCES.................................................................................................................................10
Introduction CURRY is a food restaurant of U.K. This report will help to study how business leaning help inselecting the best business type. It is important to understand various factors which can affect thefunctioning of the food line business(Hair,2015).It is important to do proper study of the marketbefore starting up the new business. To get a better understanding of the objectives andfunctioning of CURRY read on to the following report.TASK 1Part 1Business idea plays an important role before starting of any business. It is the main struggle forany entrepreneur to come up with the best idea. There are various concepts which can help incoming up with the best idea for the business. As the demand of variety in food has increasedand also there people like to visit new places it can prove to be a good idea to start new businessin. CURRY deals with the fast food line. It is easy to start a business as it can be initially startedwith very less capital investment and and also risk involved in it is very low. For a food linebusiness it is important that the selection of location is carefully done. The location should beone which is easily assessable by all and the surroundings should be healthy enough so that morecustomer wish to visit the place. It is also important to first do the proper study of the othercompetitors that are already available there in the market. As the demand for food industries hasincreased the supply has also increased in the same amount. Therefore it is important to come upwith innovations in the product. CURRY should introduce new product types and also uniquestyle of serving the food can attract more customers(Ebert and Giffin,2014)As people are verychoosy with their selection of food items the place should be designed in a attractive manner aspeople like clicking photos with new things . These days theme based restaurants are verypopular and if the restaurant is based on theme it gives more impact. The theme can be used toselect the special food items and entirely a different culture could be set up in the business. It isimportant to study the price of the other related products that are already present in the market.The price should be one which is best suitable for the business and for the customer. In the totoday's world where digital marketing has become very popular it can be used to promote andalso to provide services to the customers. CURRY entrepreneur can create own website andprovide home delivery services to the costumers. It helps in covering more market and also therestaurant comes into the knowledge of more people. They can just post the fancy picture of their
food products and can give special deals to the customers on different events.Discounts,vouchers to attracts more customer and they like when they get something for free. Itincreases the overall sales of the business and help also in expansion(Wilson,2014).As this canbe be started with less investments and the profit earn can be utilised to open a new branch withsame number. Once few branches are open in different areas people will start recognising theplace and this will make the business more popular among others.Part 2The objective of opening a new restaurant is;1.To earn more profit:As it is a business which has a good demand in the market it can help inearning good profit and also it is a primary objective. In order to maintain the profitability thecompany has to make sure that there are income is always more than the expenditure of the sametime period. For this it is necessary to maintain control over different activities of the businesslike the production and operations activities so that the profit margin can be maximised.2.New food items:Since there are many other options available in the market another objective ofthe restaurant business is to provide customer with better quality and the dish should beinnovative.3.Productivity: Customer is the king of the restaurant business therefore it is important to satisfythe customer and it should be the main objective of the firm. In order to full fill this objective thebiggest challenge with the CURRY restaurant is to find good and effective working staff. Asthere are many firms dealing in the same business line it becomes difficult to find good staffwhich is skilled and on whom company can rely on(Peteraf,Gamble and Thompson,2014)It isimportant to provide employees with good training of the work culture. The employees shouldmade familiar with the equipments as it helps in developing good productivity. 4.Best taste:Depending on the nature of the dishes they should be best in their taste. It shouldposses the quality that it can defeat the dishes provide by other restaurants of same type.In order to achieve these objective it is beneficial to have partnership in the business. It is easierto form and also more resources are available with the entrepreneur to start a new business.When partisanship is done the risk is distributed among two. In case the business experiencesloss it can be shared therefore one will not face big financial loss. If a person is running thebusiness all alone he has more burden and there are chances that the business may suffer loss dueto more work load on the single person.

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