Business Plan for Sunglasses Company | Report

Added on - 16 Sep 2019

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ContentsIntroduction.................................................................................................................................................3External Environment and its influence on Plan..........................................................................................4UK- Market Environment............................................................................................................................6SWOT Analysis of the opportunity.............................................................................................................8Objectives of the Plan................................................................................................................................10Entry Strategy............................................................................................................................................11Implementation of the Plan........................................................................................................................12References.................................................................................................................................................14
IntroductionA Business Plan is a precisely written document that presents the strategies and resources thatwould be incorporated to expand a business or start an entirely new business idea. This documentmay include objectives, strategies, sales, marketing and financial forecast of the chosen businessidea. The executives of a firm use this business plan as a roadmap to determine the rate ofbusiness success and also to evaluate the prime loopholes in the plan. An effective business planalso enlists the prime goals of a company and its new venture and also suggests methodologies toattain them while using the available resources and in a given time period.The following report has been written as a Business Plan for the sunglasses company competingwith the brands like Prada and Oakley in the markets. The plan will evaluate the markets of theUK as it is the chosen company for expansion. The report has been divided into a number ofsections for a better understanding of the topic. The first section will discuss the ExternalEnvironment factors followed by a discussion of the Income levels, Culture, Buying behaviorand Market segmentation in the next section. A SWOT analysis will also be conducted tocritically evaluate the effectiveness of the chosen opportunity. The prime objectives of the planwould be discussed in the third last segment followed by a suggestion of the most appropriatemarket entry strategy/ strategies. The last section of the report will outline the implementationprocess of the entre discussion.
External Environment and its influence on PlanIn order to evaluate the external factors which have a capability to influence the internal workingof the entrant in the markets, a PEST analysis has been conducted here. This analysis evaluatesall the possible factors present in the markets.Political Factors: -The political environment is quite stable in the country but the laws are quitestrict. The government follows all possible measures to highly encourage the private enterprises,both domestic and international. The country is a constitutional monarchy and effectively runsunder the intense influence of the parliamentary system. A number of elements of our businessplan and its inner workings would be influenced by the public as it is extremely fair country.Also, the plan could be influenced by the well-hidden corruptions prevailing in the country[ CITATION Fin171 \l 1033 ].Economic Factors: -The UK has a strong economic position as compared to other developedcountries. It has the 5thhighest GDP (Gross Domestic Production) in the world. The largepopulation allows the small markets to be profitable. Increasing Foreign Direct Investments(FDI) are increasing opportunities for the new entrants in the markets. Apart from this, there hasbeen a slow recovery from the economic recession period of 2008-2009. This might affect theavailability of quick investors for the new ventures in the market.Social Factors: -The country is densely populated with 64.1 million inhabitants. The countryhas an open migration system leading to cosmopolitan environment. Every 1 out of 8 residents ofthe company is born abroad so the cheap labor is easily available. Apart from this, the standard
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