Understanding Of Resources To Launch A New Venture Successfully

Understanding Of Resources To
Launch A New Venture
Successfully

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Brief introduction about organisation.....................................................................................3
Target market for the coffee business....................................................................................4
Competitive analysis to accomplish competitive edge in market..........................................4
Tangible and intangible resources that are required for launch of business...........................5
Strength, weakness and potential area of risk related with business......................................6
Development of the credible and detailed proposal...............................................................7
CONCLUSION................................................................................................................................9
TASK 2............................................................................................................................................9
Introduction............................................................................................................................9
Skills and capabilities that are required for establishment of business..................................9
Discussion on supporting cost and time-scale that required for business to develop skills and
capabilities............................................................................................................................10
Explanation of promotional activities and channels that support for launch of new business11
Formulation of an appropriate promotional plan for launch and pre-launch of business....11
Formulation of cash-budget for new business along with contingency measure.................12
Appropriate legal form for new business strategy................................................................13
CONCLUSION....................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
The new business venture is defined as an organisation that is formulated with a plan and
it aim to obtain financial gain from market by offering good quality of product and services.
With analysis of market requirement, an investor or individual arrange resources and time for
manufacturing new product or service that satisfies needs of customers and leads person to start
and operate new business venture. This report is composed from point of Urban Café coffee shop
which will soon establish as a new organisation in Hounslow West near the city station.
Moreover, this report highlights on business idea and the specific target market for the coffee
business (Berezvai, 2015). With use of effective tools competitive analysis of organisation will
also be included in this report. Along with this different sources such as tangible and intangible
which perform an essential role for establish a business will also focused in the report. In the last,
skills and capabilities which is required to launch a new business will be included in the report
for established of business in an organised manner.
TASK 1
Brief introduction about organisation
The culture of coffee is rich and from the last several years people are consuming coffee on
daily basis. This also refers there are various task performed by management of different
restaurant and coffee shop for modifying the taste of coffee to retain customers for longer period
in the organisation (Blank and Dorf, 2020). Moreover, the new Urban Café coffee shop will
established in the Hounslow West to fulfil needs of beverage product in market.
Aim- To establish the organisation in the central market and offer customer comfortable
environment for enjoy their coffee and sandwiches.

Objective
 For providing good quality products that satisfies needs and wants of customers.
 To develop competitive edge in market by understanding customers requirement.
 To serve the Hounslow West customers with its best service quality.
 For analysing the scope of coffee market and enter into business to earn more profits.
Target market for the coffee business
The target market for coffee includes drip coffee drinkers, individuals who visit coffee
shops and specific suppliers as well as regular coffee drinkers. In the context of Urban café
coffee shop the specific target for organisation is adults because according to the survey more
than 70% of individuals regular coffee. Further, another target market for organisation relates
with tourist and professional individuals it is because the decided place to open the shop is near
the station (Elder, Lister and Dauvergne, 2014). So individual are also attracted with help of
promotion activities that attract to visit coffee shop. Further, the middle and upper class
individuals are target market for customers because in Hounslow West most of the individuals
are regular visitor of coffee shops and restaurant for relax and enjoy of food.
Competitive analysis to accomplish competitive edge in market
There are different methods present such as SWOT, perceptual mapping, Porter’s five
forces and many more. Along with this it is also identified by management that persons are
focused to visit different places but in context of some regular shops and existing competitors
such as Starbucks etc. are more in demand and it is because of their competitive advantage.
Porter’s five forces from perspective of Urban café coffee shop is mention as follow:
 Threat of new entrants- The market of food service specifically coffee shop is too
competitive because already there are various organisations exist in market. Some of
them are international which is directly impacting on demand of products. In the context
of new entrants force organisation faces moderate power because with good quality
coffee small business is also developing their presence in market. So to accomplish
competitive edge organisation determines all resources which are used must be good in
quality that support to develop competitive edge in market.
 Bargaining power of buyer- Almost all business houses are performing their work with
motive of satisfying individual need and wants (Elliott, 2016). Along with this
globalisation provides large options to buyers for buying products. In context of beverage