Emerging business opportunities of The Ledbury Company Limited

This document evaluates the emerging opportunities of The Ledbury Company Limited by launching new clothing products. It includes an analysis of the internal and external business environment, strategies used by the management, and a growth strategy proposal.

MODULE NAME:
ENTREPRENEUR PROJECT
TITLE:
Emerging business opportunities of The Ledbury Company Limited
Contents
INTRODUCTION...........................................................................................................................3
Organisation Identification..............................................................................................................4
Strategic analysis.........................................................................................................................4
Internal analysis ..........................................................................................................................4
Environmental analysis .............................................................................................................5
Data Collection and Analysis...........................................................................................................5
Research type- ............................................................................................................................5
Research Design- ........................................................................................................................6
Research approach.......................................................................................................................6
Research philosophy ...................................................................................................................6
Ethical consideration....................................................................................................................7
Data collection Methods..............................................................................................................7
DATA ANALYSIS..........................................................................................................................7
Expansion into global market. ....................................................................................................8
LITERATURE REVIEW ...............................................................................................................9
Apply SWOT and VRIO to analyse internal environment..........................................................9
Apply PESTLE for analysing external environment.................................................................11

Apply Ansoff matrix to analyse the way in which competitors effect profit and growth policy
....................................................................................................................................................12
Growth Strategy proposal..............................................................................................................13
Ansoff Growth Matrix...............................................................................................................13
Porter's Generic Strategies.........................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Entrepreneur as a person who starts a business and is willing to risk loss in reference to
make money. An entrepreneur is an individual that creates a new business, bearing most of the
risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a
source of new thoughts, products, services and business or processes. By using effective
technology and by the identification of value producing opportunities, the enterprise has revived
the revenue and gains the rivalry benefits (Chan and et. al., 2018). Through several research and
development, it has been identified that use of effective technology of firm is long term
investment. IT assists in administrating document based transaction as to deliver rivalry benefits
through making employee more adequate and appropriate. By making technical advancement in
the business an entrepreneur can make growth in its business but it can be challenging at initial
phase but leads to long term efficiency of enterprise. For the completion of this document Lush
Company is the establishment which is considered. It is a cosmetics retailer which was
established in 1995 and is headquartered in Poole, Dorset and UK. It specialises in cosmetics and
manufactures creams, soaps, shampoo, lotions, scrubs and many more. The written research
document will consider information about organisation identification, data collection analysis,
and literature review and growth strategy.
Research aim: To evaluate the emerging opportunities of Lush Company by launching new
clothing products
Research objectives-
 To analyse the internal business environment of Lush Company.
 To determine the impact of external environmental factor over the business of Lush
Company.
 To determine the strategies used by the management of Lush company in context of
analysing competitive environment.
Research Questions:
 What is the internal business environment of Lush Company?
 What is the impact of external environmental factor over the business of Lush Company?
 What are the strategies considered by the management factor over the business of Lush
Company?
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Organisation Identification
Analysing opportunities for the business venture like Lush Company is that in UK the
national authority is making effectiveness to have boosted the cosmetic sector. So, it is the good
opportunities for the Lush Company to expand in other nations. For example, the Government of
several nations has permitted the free tax to new business. In European nations, the company has
large market or cosmetic and it offer a wider area to expand new venture (Kuppuswamy and
Bayus, 2018). Lush Company is a known venture and has a large customer due to having a range
of product with effective quality. The venture deal in that sector or business which is all time in
demand cause of there is the maximisation in the global market share of this firm. More and
more new organisation is incorporated in this industry along with foreign players and heading
more regarding UK market.
Strategic analysis.
`In term of having the strategic analysis it has been finds out that cosmetic sector organisation
like Lush Company is suffering the threat of the constant changing demand of target audiences
along with the change in their perception. Cause of increase the use of cosmetic opportunity in
the nation, there are entrance of more foreign player entering to market that are creating more
and more of level of rivalry (Jeon, 2018). The company also face the threat of entry of new
venture with innovative products along with change in demand and preferences. The
establishment has the ethical and social accountability to fulfil the corporate responsibility and
sustainable administration of the venture. The organisation should manage the confidentiality of
the consumers along with having the culture and social respects between each consumer as
different nations having several culture diversifications.
Internal analysis
Resources within the establishment- The Company like Lush Company have trustworthy
suppliers and dealers of raw materials that offer benefits to the firm to face any challenge. The
venture has greatly effective personnel with new technological advancement that they have a
successful track record in developing goods i.e., innovation.
Evidence of Entrepreneurial innovation- Lush Company has a developing record because
it is successful in bringing new commodity that means creation. The venture has always try to
bring something new as they adopt and make use of new technologies in producing cosmetic
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product. Establishment has an immense brand portfolio and it is extremely useful of them if they
want to develop their business through introducing new commodities.
Influence of founders- The founders of Lush Company is supportive, so the venture
makes effective development and makes effective decision making. Along with this, the
administration determined something new to brought to the marketplace after so much research,
but the founders have trust confronts with the administration (Malinda, 2018). So, they take too
long to invest in the new commodity and venture misses the development option.
Environmental analysis
Global, Regional and emerging markets: - In current era, COVID 19 Pandemic is the
main global and regional issue which is faced by the all over world. Due to this problem, the
venture suffers several issues in term of its sales and revenue. As per the PESTEL analysis, it
affects the business expansion of the enterprise in other nations. But the free trade option creates
business opportunity for the organisation and help in flourishing the business in new market.
Socio cultural influences: - The needs and demands of target audiences is changing
because there are several ventures offer effective quality products with extra benefits and
features. Now these days, people highly focus on the cosmetic products which are herbal and
natural as well as beneficial for their skin (Li and Martin, 2019). People are changing with the
altering trends, they like to go on several and spend quality time, so from this aspect also the
establishment will be advantageous.
Environmental & Competitive Analysis: - As per Porter’s Five force analysis the venture
has threat of competitive venture like Lakme, L’Oreal and many more which offer similar kind
of products as well as creating competition for respective firm.
As per the above defined information, it has been analysed the management of respective
firm can gain several development option and opportunities which assist in making enhancement
in the business of the company. By adopting diversification development option, the corporation
can gain opportunity to expand its business with new or developed products in those nations
where it is not exist. This will assist in offering opportunity of enhancing customer base,
increasing sales and make improvement in the profit margin of the firm.
Data Collection and Analysis
Research methodology is the activity to utilise of tools and techniques to determine the
information about the research. It is based on the analytical structure that associate with the
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particular set of assumption utilise for organising research. The research has been conducted to
find out the main problems and the use of technological advancement in the development if
business in several nations.
Research type-
It is based on the kinds and nature of the research along with behaviour that is executed in
the research to analyse and interpretation the facts and figures. There is key two kinds of the
research that is quantitative research and qualitative research. In this research report, the
surveyor has utilised the qualitative research that is based on the interest of humans along with
non-numerical aspects. This kind has assisted in finding out behaviour of global market for the
establishment Lush for the expansion in nation (Newman, Davies-Slate and Jones, 2018). The
data is supported to the theoretical factors and refers as the qualitative research has been most
relevant because there is different influence of technological advancement in diverse sector.
Research Design-
It can be forms as the framework of tools and methods selected by investigator to attain the
research. It incorporates the logical relations among several aspects and variable of research
project. There are two kinds of research design like exploratory and conclusive. Majorly the
investigator utilised exploratory research to develop the particular component of the document
based on its aim and objectives. The utilisation of this research design has enabled to have
effective determination of the market trends and demand in global market to attain the research
objectives.
Research approach
In the research project include of plan and process towards the several assumptions. The
approach has executed as per to behaviour and nature of the research problem that has been
tackled (Ryu and Kim, 2018). The approach has been classified into several kinds like deductive
and inductive research approach. In this research, the surveyor has addressed the inductive
approach because to find out the current conceptions and theories pattern along with interpretive
philosophy that considers the integration of several human elements. It has assisted in finding out
the patterns from the current concepts in reference to observe from hypothesis series.
Research philosophy
It is the crucial section of research methodology because it is the belief in the form the
information is about the connected case has be collected and determined. It is majorly dealing
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with the improvement of knowledge, source and the nature of the research project phenomena. It
is the effective form to gather the data and determine the reliable data about the research project.
In this research document, interpretivism philosophy has been utilised to find out several aspects
with integrated interest of human and reality by the instrument and consciousness. This made the
surveyor to have effective understanding in the competitiveness in market.
Ethical consideration
The ethical consideration is about the ordinary aspects and the moral values that the
investigator should acknowledge and keeping in the mind as the time of competing the
investigation. It the common ethical factors which are needed to solve the research issue with
relevancy and effectiveness. The ordinary ethical factors that should follow and manage the
process of the research project (Hall and Scott, 2019). The investigator should manage the
authenticity of report through managing the privacy and protection of research contributors. The
confidentiality level should be managed by the surveyor through organising the investigation.
There should be transparency and accuracy in time taking to complete the document with having
any fraudulent activities.
Data collection Methods
It refers to the methods and tools which are used to collect and gather information from the
particular source of survey as to identify the answers for the research issue, hypothesis testing
and evaluation of the outcomes. It is the systematic approach for collecting and assessing data
collects from several sources to determine the relevant insights for the research problem utilising
the standard validated techniques (Wang and et. al., 2020). There is main two main data
collection method primary and secondary. In primary method, the person can collect pure and
first hand information through questionnaire, interview and other methods. In Secondary, the
research can collect information through internet, books, articles and journals etc. In current
research document, the surveyor has utilised the secondary method for collecting data with the
help of internet, articles and journals.
DATA ANALYSIS
For the data analysis of the specific research document secondary analysis has been
completed. It is about the re-determination of the qualitative data gathered from another research
by several investigators as the wish to address the new research question.
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Significance of strategy like digital technology in term of increasing sales of new launched
product
In the expansion of business, in global market, use of digital technology play an
important in maximising the sales and creating awareness about the new launch commodities of
business enterprise. For the effective development of business into new market, establishments
require to acknowledge about the consumers, their needs, demands and expectations. By
adopting the plan of use of digital tools within the firm in term of creating awareness, Lush
Company can communicate its target audiences about its newly launched product in easier form.
The tools can influence the enterprise’s capability to communicate with any of its parties that
direct to help in gaining consumer attraction. By executing this strategy like use of digital tools,
the firm can make effective production (Zhou and et. al., 2018). They do not require more assets
that lead to reduction in manufacturing cost and prices of the facilities. Reduction in the cost is
significant for the firm because it has been able to manufacture high quality commodities at the
low costs whose outcomes in development in organisational effectiveness and efficiency. Along
with this, firm is capable to generate high revenue which will make maximisation in profit
margin of the respective firm.
With the use of digital technology, the firm is able to store large information and data in
servers and database. This data assists them to take accurate decision towards upcoming time
plan and goods or service, consumer etc. Along with this, technical advancement, Lush
Company is capable to store their business information and access it with anyone within a few
seconds and at one click (Fonrouge, Bredillet and Fouché, 2019). With the execution of digital
tools and devices, there are existing of several consumers tools that direct respective venture to
communicate to the target audiences in easy manner. It is beneficial for the minimisation of the
gap that is among the demand and supply of the facilities. Reduction in gap can assist venture to
develop more in form of consumer’s satisfaction and customer’s positive insight regarding Lush
Company. In addition to this, these tools and technologies are small in size that is easily carried
out by the establishment.
For the successful development and expansion of business in to global market with new
product line like clothing, it is most essential for the workers to work more efficiently that is only
possible by digital technologies’ implementation. For the Lush Company, digital tools are
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playing important role because it assists them to do direct communication that led to create the
co-ordination among several business practices.
Expansion into global market.
For the effective development of business in to global business market, there are several
ways forms that can be utilised through the Lush Company. They utilise majorly marketing
techniques in reference to get consumer’s attraction regarding the organisation’s product and
service. For the successful marketing of the product, which is launched by the firm in the market,
Lush Company has utilised social media that are accessible at the mobile and computer devices.
In addition to this, for the wide spread of any type of news, individual are taking help of social
media tools. In respective venture, by using effective social media channels like Facebook,
Instagram, Twitter and many more, establishment is able to make connection and interaction
with the target audiences in reference to acknowledge their demands, needs and purchasing
power as well as insights of them so that they can offer them products as per their need
(Martínez, Bañón and Laviada, 2019). Social media also assist in promoting the newly launched
clothing product of particular venture across the globe.
By adopting different marketing technology like online service, digital marketing etc, the
firm can expand its business in global business environment. In current era, people prefer to buy
products through online mode, so by offering online shopping option they can also capture a
wide market area. Along with this mobile application and company website can be considered by
them on which they can mentioned about the offered products and services so that people can
easily purchase them and get clear information about the commodity.
Another way by which establishment can enter into global market is merger, joint
venture, franchising and many more. In franchising, venture has provided permission to the firm
that are ready to open a new venture under this brand image and pay the franchising fees
(Lieftink, Smits and Lauche, 2019). For that establishment has gone promoting about it into
global market and do agreement with the suitable party. By adopting the joint venture option,
firm has done partnership with other organisation operating in different nation. It has permitted
both organisations to share their threats, techniques, profitability and products as well as
facilities. This has been executed through the compliance with government rules associated to
the foreign trade and joint venture.
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LITERATURE REVIEW
Apply SWOT and VRIO to analyse internal environment
According to Reißmann, Thrä and Bezama, (2018) For starting new entrepreneurial
business it is required by organizations to review their internal structure. It will help in
identifying usefulness of available resource regarding with organization and threats and
limitations of the corporation. Lush Company is one of the trending corporation in market sector
of UK, however, to expand its target market and sales revenue, they start clothes trading also.
Before starting of new branch of products management department of Lush Company use
strategic tools of environment scanning to recognize capability, they have to enter new market
segment or not. For this purpose, they use SWOT, VRIO technique.
Business entities use SWOT analysis to determine strength, weakness, opportunities and threat
an organization may face when they start new business. This is the most useful and universally
acceptable method of scanning.
Strength
Lush provides best and high quality of
cosmetic product which gave full satisfaction
to customers.
Due to full satisfaction, it is popular among
public.
They have great skilled employees because the
organization provides handmade products.
Weakness
Cost of purchasing product from Lush is so
expensive.
Most of stores of Lush is situated in mall &
local markets it will on low sales rate.
The organizations not able to match demand of
customers.
Employees is belonging from different
countries thus they have culture and ethical
issue at work place.
Opportunity
The organization is offering handmade
products thus they have great opportunity in
expanding market business because now
customer ispreferring to use handmade and
environment friendly products.
By opening new segment of cloths, they can
Threat
The organization is face high rate of
competition.
Lush need to contract with meditate and broker
to prove product to their final customers.
Using chemical materials for producing skin
care is also irreverential regarding with
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reach local as well as global target market area
Uses of mobile application for providing
online shopping will also lead in increase
revenue rate of the organization.
customers prospective.
VRIO : This method is useful for evaluate effectiveness of resource available within the
organization.
Value : This help in determining the real cost of bearing or purchasing recur from market
Rareness: Manager use to analysis the rareness or uniqueness of resource. As many
materials is limited. In case of VRIO, human resource is limited because affect BRIXIT
agreement it is relay hard to find skilled labour specially for cloth segment.
Imitability: Resource is really hard to imitate, this method is useful in determine the rate
of internal element.
Organization: This help in analysing is this all the resource is effective to run business.
This is reality essential to identify the structure and build policies which is relevant for the
organization so that they can be available to aching ultimate goal.
Apply PESTLE for analysing external environment
According to Zahari and Romli, (2019)Entrepreneur before entering into new business
sector analysis effect of external elements. Because the whole business is built from the external
as well as internal factors of environment. This will help in identifying positive as well as
negative impact of social, political, global and cultural elements on business. Managers use
PESTLE and Porters 5 model for review effect of external factors
PESTLE: For recognize effect of political, environmental, social, legal and economical
impact this model used.
Political factor: These includes government regulations, policies on corporations.
Basically, after Brexit agreement, government of UK, reduce complexity and trade changes also
this is in positive favour.
Economical: Elements which affect demand and supply of organization is known as
economic. It considers interest rate, monetary policy, fiscal policy, bank rate etc. At present time,
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the rate of taken loan really high and monetary policy also strict to reduce the effect of
resonation. Thus, economic factor not in favour to Lush company id they open clothe segment.
Social: Impact of cultural influence, religion trends, value and beliefs of social group
directly influence organization running cycle. Lush provides best quality of goods and services to
their customers and they also contribute to corporate social responsibility thus public also
support and encourage whenever they open new segment.
Legal: Effect of law and regulation, employment policies, compensation,salary,
maternity benefit is related with the legal factors.
Environment factor: Lush basically use those material which is ECO friendly theydo
not use hazardous ingredient for their production process. As it is essential to work within
breaking any rule related with environment safety.
Entrepreneur also use Porter's 5 forces model to recognize, real situation of market.
Bargaining power of buyers: This help in recognize, number of customer organization
have while trading, capacity of buyer pay cash , their perception of regarding substitute. Ad
information regarding particular product.
Bargaining power of supplier: Entrepreneur identify capability of their organization to
fulfil need and run business in effete way.
Threats of new entries: While opening business manger also consider the of rival
business already exist and new firm enter in competition.
Threats of substituting product: This also effect when Lush Company enter in trade
cloth market it considers how customer effect of ability of substitute product ad different of their
price with organization product.
By analysing internal as well as external environment condition through using environment
scanning technique, following are the opportunities has been found
Lush Company if they invest in launching new designer cloth segment in various place of UK
then it brings lots of opportunities for organization. This will help in spreading market of the
organization, as well as useful in generate profits.
New market help in find out new customer. Cloth business is trading at present time thus
investing in this field useful in build strong brand image. Public get excited and Lush company have
chance to create positive image among those are where organization not able to maintain their strong
position.
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Management department of Lush Company also have idea to invest in handmade products as
at present time people prefer to invest and purchase handmade products.
This is new field for working and bring more opportunities. They can use digital media for
communication purpose. They can explore digital platform which provides opportunities to connected
with customers as well as provides well as way for trading.
Lush Company may face following risk while exploiting opportunities
Trading in cloth market is highly profitable however organization face high competitions as
their will be many rival industries which maintain their strong position within the market. They may
face financial risk as it requires huge investment when investing in cloth or handmade products. They
need to collect finance from various source at the time of pandemic it is really hard for Lush Company
to take loan at low interest rate.
It may be possibility that due to COVID – 19 organization not able to generate expected
revenue as the selling rate has been decline since the starting of this pandemic problem. They may
face issue regarding managing human resource, because it requires large number of employees, hiring
expertise and provides training to new joiner, all these procedures require time. And managing
workforce by solvating their issue related with diversity, all these consider as time consuming
procedure.
Thus, Lush Company may have possibilities to spread their market by investing within cloth
and handmade product sector however they also face issue related with finance, technique and other.
Apply Ansoff matrix to analyse the way in which competitors effect profit and growth policy
According to Schawel and Billing (2018). Business corporations while entering into new
market considered how competitors effect their profit and growth policy. To analysis this Ans-
off matrix has been used.
It is also recognized as expansion grid this tool is apply by managers to plan effect strategies in
order to expand market of business entity. This will useful matrix which help manager to
determine the identify the best policy an organization is able to use while run their new business.
Generally, this strategy is applied by entrepreneur. As they change their existing business
policies to relation their existing customer and achieve growth to sustainable within the
organizations.
Strategies which can be adopted by entrepreneurs
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Market penetration:When organization adopt this strategy, they focus on their relevant existing
good which they trade in market. Entrepreneurs use effective marketing strategies for promote
existing product which help in spreading target market.
Product development: In this strategy entrepreneur may focus on introducing new product in
market. To maintain interest of customer within the organization. This requires high cost on
researching of market and then developed product according to the need and wants of market
customers.
Market development: This is also most popular strategy used by organization. In this manger
after researching all the relevant factor, they find new market for their target market segment and
then they enter into this market with their existing product. Thus, will help in spreading
organization at global level.
Diversification: This is most costly but highly profit generate strategy an organization able to
use. This strategy, manger introducer in market new product and also they did not supply it to
existing market moreover they launch product in new market for the first time. It is highly risky
product although organization able to gain high rate of profitably if customers like and support
their new market.
Lush Company is already work in existing market thus now they use diversification strategy
which will help in lunching cloth sector in new market. They globally deliver their products.
Diversification useful for the organization to their systematic growth. If their product help in
satisfying customers then taking risk of diversification help in earning high rate of profits.
Through which their organization able to build strong position in completive market.
Growth Strategy proposal
Every business aims to grow and expand. There are many methods and approaches that
help the businesses design and implement correct growth strategy, such as
Ansoff Growth Matrix
This method was developed by H. Igor Ansoff and helps companies better understand the
risks in expanding their businesses in different segments (Šiško, 2015). It is also called
Product/Market Expansion Grid. It is further sub-divided into four strategies-
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Market Penetration – This strategy is focussed on improving sales of existing product in
an existing market. All the strategies developed by Lush to push sale of its existing cosmetics
comes under it such as decreasing prices and increasing promotional efforts.
Product development – This strategy is focussed on introducing new products in an
existing market such as Lush introducing new range of face wash in UK after much research and
development.
Market development – This strategy is focussed on getting into a new market using its
existing products such as Lush brings its existing range of cosmetic products into market of a
new country.
Diversification – This strategy is focussed on getting into a new market, introducing new
products such as the decision of launching its own clothes line by Lush company. It can be both
related diversification and unrelated diversification depending upon the relationship between
existing business and new product/market.
Out of all, Lush has chosen unrelated diversification strategy. This will open new revenue
stream for the company by giving it access to consumer clothes market but company shall be
aware of risks associated with entering into an unfamiliar market.
Porter's Generic Strategies
This method was developed by Michael Porter and are called generic strategies of
gaining competitive advantages since these approaches can be applied over any product or
services of any organisation in any industry (Ansoff and et.al., 2019). Porter divided the
strategies into three categorisations – cost leadership, differentiation and focus. Focus strategy
was further sub-divided into cost focus and differentiation focus:
Cost Leadership – This strategy is focussed on minimising the cost to company. Lush can
improve its profits by two ways – by reducing its costs while charging industry-average prices or
by charging lower prices which would help increase its market share and achieve greater profit
by increase in volume of sales.
Differentiation strategy – This strategy is focused on making products differentiated from
its competitors to increase its attractiveness among customers (Bayraktar and et.al., 2017). Lush
shall promote innovation and encourage research and development to be able to deliver high
quality differentiated products and services to its customers.
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Cost focus strategy – This strategy is focussed on creating niche markets for itself by
developing a unique low cost model. It can help Lush develop a loyal customer segment that will
be less attractive to its competitors since they would be loyal to Lush brand.
Differentiation focus – This strategy focuses on developing a niche market of
differentiated products. Lush can create niche market among those customers who prefer vegan
and hand made products which are free of toxic chemicals.
Out of all, Lush shall choose cost differentiation as its strategy for its new product range.
Aided with cost focus, it can help company place itself among competitions which are already in
the market from long.
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Zahari, A.R. and Romli, F.I., 2019. Analysis of suborbital flight operation using
PESTLE. Journal of Atmospheric and Solar-Terrestrial Physics, 192, p.104901.
Schawel, C. and Billing, F., 2018. Ansoff-Matrix. In Top 100 Management Tools (pp. 31-33).
Springer Gabler, Wiesbaden.
APENDICES
A. A PROPOSAL FORM
Entrepreneur Research Project
Registration of proposed research subject
I am undertaking a research with the motive of analysing different strategies of Lush company
that will be helpful for company for enhance business practices as well as gaining more
opportunities of market area.
Proposed subject – To evaluate the strategies which needs to be consider by Lush company for
increase the awareness and sales of new launched clothing products.
Justification for your selection of company/brand/tool:
The main reason for selecting Lush company for this research project is that it is
providing high quality products that is significant for meeting with the meets of customers. This
company is dealing only in cosmetic product and it has opportunity to expand new range of
products to attract more customers towards business. By launching new clothing product range
Lush company will be able to increase sales and profitability of the business. This will be
significant for taking better decision and enhancing performance.
Outline analytical framework to be used:
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There are different frameworks and models used in this project in order to analyse
various factors that will help in better decision making. This research will include frameworks
for analysing internal and external factors. Analytical frameworks are significant for taking
better and accurate decision that will lead to enhance business practices for internal analysis
VRIO and SWOT frameworks will be consider for determining the resources within
organisation. PESTEL and Porters five force framework will be used for determining global
market along with social cultural influence on business. This framework will assist in
competitive analysis of organisation. Ansoff Matrix will assist in analysing the sources of
opportunities. Strategic analysis framework is considered with the motive of analysing risk and
scenario planning. Through this different ethical and corporate social responsibility issues.
Porters generic model is effective tool in order to evaluate strategies for growth and development
of business.
Expected list of data sources:
Chan, C.R., Park, H.D., Patel, P. and Gomulya, D., 2018. Reward-based crowdfunding success:
decomposition of the project, product category, entrepreneur, and location
effects. Venture Capital, 20(3), pp.285-307.
Li, E. and Martin, J.S., 2019. Capital formation and financial intermediation: The role of
entrepreneur reputation formation. Journal of Corporate Finance, 59, pp.185-201.
Hall, D.M. and Scott, W.R., 2019. Early stages in the institutionalization of integrated project
delivery. Project Management Journal, 50(2), pp.128-143.
Primary or desk research:
DESK RESEARCH
Outline timeframe (Gantt chart) to completion:
· Selection of research topic/organisation including research aim, objective and questions – 4
weeks
· Literature review/ information/ data collection- 2 weeks
· Analysis- 3 weeks
· Discussions- 1 week
· Recommendations/ conclusion- 1 week
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· Final report compilation- 1 week
· Feedback and review/ update work- 1 week
· Final submission- last week of term
B. ETHICS FORM
BAThis document is to be initiated by all NBS students or staff undertaking research.
Students must present this form to their Dissertation/Research Supervisor at the first
meeting and include a copy with their final submission.
Staff must present this form to the Head of Research/Research Mentor before the research
commences.
Part A: Project Detail
1. Project title: A STUDY ON EVALUATING EMERGING BUSINESS OPPERTUNITIES
FOR LUSH COMPANY LTD.
2. Programme/Module:
BA (HONS) BUSINESS ENTREPRENEURSHIP TOP UP / MKT4007 ENTREPRENEUR
PROJECT
3.
 X I have read and agree to adhere to the NBS Research Ethics Procedure and the
Guidance on Ethics for Researchers
4. Supervisor name (s):
5. Use of human participants: Tick one of the following:
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 I am using human participants.
 I am using archival data where individuals are identifiable
 X I am not using human participants or data where individuals are identifiable and
therefore do not need tocomplete the remainder of this form.
6. Participants: Tick the box which most accurately describes your sample:
 Children under 16 years
 16-18 year olds
 Adults over 65 years old
 Members of the public (general)
 NBS Students (please specify)
 Members of vulnerable groups (frail elderly, recently bereaved, members of support
groups – describe here :……………..……...)
 X Other. If other, describe your sample here: THIS RESEARCH IS BASED ON THE
SECONDARY DATA AND INFORMATION
7. Issues for concern: Tick below any issue that relates to this research.
 Involves participants undertaking tasks they would not normally undertake
 Involves any activity that might be described as an ‘invasion of privacy’
 Involves deception
 Involves a topic that would be considered ‘sensitive’
 Involves the collection of data that is not anonymised (contains identifying information
such as name and address)
 X Other. If other, describe here: THIS RESEARCH IS BASED ON THE SECONDARY DATA
AND INFORMATION
8. Methodology: Tick the appropriate box. Full details of what you will do and where it
will happen, should be provided in the accompanying Proposal.
 Questionnaires
 Interviews
 Experiments
 Observations
 Archival
 X Other. If other, state here: THIS RESEARCH IS BASED ON THE SECONDARY DATA AND
INFORMATION
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9. Recruitment Process. Tick the process that best describes how you plan to recruit
participants. Full details of how you will recruit and where it will happen, should be provided
in the accompanying Proposal.
 Via poster in a public place such as a library or community centre
 ‘Packs’ will be provided to named person in an organisation/group to be distributed on
my behalf
 Asking personal contacts to pass my information packs to their contacts
 Will be asking friends/family
 Cold calling
 X Other. If other, state here: MAJORITY OF THE INFORMATION / DATA ARE TAKEN FROM
WEB SOURCES. SOME OTHER SOURCES SUCH AS NEWSPAPER, ARTICLES ETC MAY ALSO
BE USED IN LATER STAGES OF THIS RESEARCH.
10. Recruitment material. Tick all the recruitment material you will be using. They must
not be used until seen and approved by your supervisor.
 Recruitment poster
 Recruitment letter to named person in an organisation/group who will be distributing
‘Packs’ on your behalf
 Recruitment letter to potential participants
 Participant Information Sheet
 Consent form
 X Other. If other, state here: MAJORITY OF THE INFORMATION / DATA ARE TAKEN FROM
WEB SOURCES. SOME OTHER SOURCES SUCH AS NEWSPAPER, ARTICLES ETC MAY ALSO
BE USED IN LATER STAGES OF THIS RESEARCH.
11. Risk assessment: Some projects will require risk assessment for participants and/or
researchers. In other words, there is a possibility that participants and/or researchers will get
hurt collecting data. If so, a risk assessment must be conducted. Tick the appropriate box
below concerning your need for risk assessment.
 X There is no risk of injury to participants and/or researchers, so no risk assessment will
be conducted.
 There is a potential of injury to participants and/or researchers, so risk assessment has
been (or will be) conducted.
12. Consent from the host Company:
I consent to the aforementioned named student carrying out research on Company premises
or in relation to this Company.
Senior Manager Name: ____________N/A___________________________
Senior Manager Signature: _________N/A___________________________
Host Company Name: _____________N/A___________________________
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13. Compliance with the Ethics Procedures of the Host Company.
I the student have read and complied with the ethics procedures of the host company.
Signed: __________________N/A__MSK_______________
I the Senior Manager confirm that the student has read and complied with the ethics
procedures of our Company.
Signature: _________________N/A___________________
Please include an A4 sheet to explain what you hope to achieve from the
data provided on acceptance of this project.
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Part B: To be completed by dissertation/research
supervisor/mentor.
In the case of a student, this section should be completed by your Dissertation/Research
Supervisor.
In the case of a member of staff, this section should be completed by the Head of
Research/Research Mentor.
Supervisor/Mentor Comments: Please comment on the extent to which this proposal
meets the requirements of NBS Research Ethics Procedure and the Guidance on Ethics for
Researchers.
using secondary research to complete his work and his proposal meets the requirements of
NBS Research Ethics procedures and the Guidelines on Ethics for researchers.
Should this proposal be considered by the Ethics Committee? Yes [ ] No [ X ]
For students, referral to the Ethics Committee is at the supervisor’s discretion.
For staff, all proposals should be considered by the Ethics Committee.
If yes, please copy this form to the Ethics Committee Secretary (Debbie Christopher)
If no, please retain a copy for your records.
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Part C: To be completed by Ethics Committee Secretary
Date considered by Ethics Committee:
Ethics Committee comments:
N/A
Action Required:
N/A
Date action required by:
Signed on behalf of Ethics Committee:
Print Name:
Date Copied to Research Supervisor/Mentor:
N/A
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