Launching a New Venture

Launching a New Venture

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................2
P1 Define a new business organisation addition with target market......................................2
P2 various tangible as well as intangible resources................................................................3
TASK 2............................................................................................................................................4
P3 Create a proposal to introduce a innovative business organisation..................................4
P4Determine skill as well as capability needed and how they can be improved...................5
TASK 3............................................................................................................................................6
P5 Explain promotional functions and channel......................................................................6
P6 Improve suitable activity plan in relation to promotion for both launch and pre-launch..7
TASK 4............................................................................................................................................8
P7 Create an monthly cash budget.........................................................................................8
P8 Legal procedure for the venture affirming......................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
Books and journals...............................................................................................................12

INTRODUCTION
Entrepreneurship is considered as a process through which they emphasized on conversion
of business plan into realism for increasing profit margin. It signifies the growth of Organisation
in UK. Due to rapid advancement of Technology as well as globalisation that is important for
small and medium size company to introduce innovative product and services for their survival
and maintenance in Marketplace. The business organisation emphasised on introducing a new
business venture named as munchies. It helps in making effective planning for providing services
and also fulfils the requirement in good way. The report will emphasize on assessing different
sources which is significant for launching or introducing a new business organisation. In
assistance of this, there are various knowledge as well as capability that must be determined and
also the legal as well as budget need will be assessed in this report (Barrow, Barrow and Brown,
2018).
TASK 1
P1 Define a new business organisation addition with target market
It has been analysed that it is necessary to assess various function performed in good way
during the particular phase of time period before introducing new organisation it is important
launching to assess the taste of user. In addition to this it helps in assessing the feasibility level in
target market for the present business venture emphasized on the method that help in fulfilling
the need of customer and the new venture will fulfil their responsibility for supplying F and B
need in good way. There is a different kind of tea as well as coffee that is provided which is
imported from the country named as Africa and also they provide customised pizza to an
individual person with special ingredients. The business organisation is determined as providing
their services in the UK market where there is not any kind of barrier for taking entrance as well
as exit organisation in good way. And business organisation focuses on starting a new business
venture named as munchies. They start their operations in 2300 square foot and also the manager
of organisation provides their place on lease in approx. 3 years. The finance is necessary to
invest in the new business venture is around for introducing a new business (Fenwick,
Skultetyova and Vermeulen, 2018).
Objective
 The operation of business in 1 year the objective is given below:
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 To be considered as a superior F and B new business venture located in UK and also it
help in taking benefits from basic month functions as well as activity.
 It also helps in operating and handling the growth of organisation which is approx. 65%
The mission of the organisation is to improve the contribution for maintaining superior
position in the mind-set of buyer and provide good quality food items to user at relatively less
cost.
Target market the primary purpose of new business venture is to attract the ample of user
and also they assist in target market within business organisation and also help in achieving
favourable outcomes in good way. It also signifies the individual person whose main objective is
to target new business venture and in various segments in which the overall market is divided
according to the requirement of user. The primary purpose of munchies is to target the family,
adults as well as elders for providing appropriate food services. According to the criteria which is
related to the income the munchies focuses on middle class individual person. They also focus on
targeting ample of users for buying product is well services of business organisation.
Competitive analysis there are various rivalries of munchies at market place of UK therefore
it is necessary for organisation to have necessary fund which is used for food and beverages. It
also assist in providing strength in respect of brand and also attract the large number of customer
by providing quality product at relatively low price and appreciate the important location at
market place. In order to compete in effective manner munchies need to begin their USB of
organisation for gaining competitive edge at Marketplace (Montes and Olleros, 2019).
P2 various tangible as well as intangible resources
Munchies are considered as a superior food and beverage for business organisation at UK.
It help in attracting ample of user by providing different things that is connected to food as well
as also offer superior quality depend upon the goods to their audience. The resources are
considered as a source that helps in gaining competitive edge. There are different types of
resources in company need to be managed like tangible as well as intangible resources. There are
various resources that are going to be mentioned below:
Tangible resources: Herein the tangible resources includes physical plant, raw material as
well as many more that is tangible and can be adopted by using resources and also it includes
financial as well as other resources. In reference of munchies is considered as a visible resource
within food and beverage industry.
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