Business Development Portfolio: Assessments and Analysis

This portfolio of work presents a comprehensive overview of a student's understanding of business development principles. It begins with a reflective report, outlining the student's learning journey and influential factors. The portfolio then delves into a PEST analysis of Hollister, examining political, economic, social, and technological factors impacting the company's potential entry into the UK market. A 4Ps marketing plan is developed, outlining product, price, place, and promotion strategies for Hollister in the UK, including product diversification and pricing strategies. A case study on free trade in Singapore explores the country's open economy and government's role in promoting international trade. Finally, the portfolio addresses the social issue of unemployment, offering insights and analysis. The document covers various aspects of business development, providing a well-rounded understanding of the subject matter.

PORTFOLIO OF WORK

Table of Contents
INTRODUCTION...........................................................................................................................1
ASSESSMENT 1 ............................................................................................................................1
Reflective report...........................................................................................................................1
ASSESSMENT 2 ............................................................................................................................1
PEST Analysis.............................................................................................................................1
ASSESSMENT 3 ............................................................................................................................4
4P's marketing plan......................................................................................................................4
ASSESSMENT 4.............................................................................................................................8
Why and how the government of Singapore promotes international trade process....................8
Importance of free trade for growth and survival of Singapore...................................................9
Role of Singapore's government in achieving title of the most open economy in the world and
highly developed trade oriented market.......................................................................................9
ASSESSMENT 5...........................................................................................................................10
Social issue of Unemployment..................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Portfolio of work is related with beliefs, qualifications, training and education of an
individual related to their work (Khan, Khan, and Mahmud, 2016). This portfolio of study will
be segregated into five assessments. The first assessment will lay emphasis on reflective report.
Then second assessment will describe about PEST analysis of a given company in a scenario
which is Hollister and it is followed by marketing mix which includes 4P's in third assessment.
The fourth assessment will reflect a case study which is based on free trade in Singapore. Fifth
assessment in the report will lay focus on social issues.
ASSESSMENT 1
Reflective report
 What and who has been influential
I enhance my learning and knowledge for preparing this study of portfolio of work. This report
influences my learning capabilities as I gain new knowledge regarding these topics which are
covered in the report.
 Major milestones in my life
The major milestone in my life that I found my career growth. As this report will include free
trade in Singapore which inspire me to opt for businesses and enhance myself to establish a
business. So, that I can contribute towards economy and growth of my country.
 Decisions made
The decision I made that I want to start an entrepreneurial business for which I access my
knowledge in the field of my interest. By this I can operate a new business entity in coming
years.
 How and why I do things differently
As I am very creative person and I usually apply different innovative ideas for overcoming
situations in my life. I want to create path for other and make them influence by creating a
position of role model in their life.
ASSESSMENT 2
PEST Analysis
The PEST Analysis is an external environment analysis that affects the given company in the
case study that is Hollister. The company is planning to enter in UK and therefore, this helps to
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identify their business environment. This analysis contains Political, Economical, Social and
Technological influences that affect functioning of the company Hollister.
Political Analysis Support from government of various countries – Hollister is a company which deals in
countries like US, Europe, Hong Kong, Shanghai and South Korea (Afonina, 2015). The
company ears political support which prevent them from hazards. Also, the company
provides employment to natives of these country which helps government in increasing in
their employment ratio. Taxation policy – Taxation policies of different countries are different. The tax rates on
import and export duties are different. Also, the company faces different taxation policies
and rates which increases their overall expense and therefore affects revenue of the
company.
 Political stability – The political stability is different in every country. Like, in Europe
sales of the company Hollister leads to sales drop when there is terrorist attack in the
country and in China, when they fought against corruption in the market then this
increases their purchase power and resultant the company sales and profitability
increases.
Economic Analysis Increase in Employment ratio – The company Hollister is providing employment to
natives of the country in which they are trading. Hollister offers job opportunities and
employment to natives of respective country which leads to increase their employment
ratio (Dale, and Frank, 2017). This is beneficial the company as well as trading country. Increase in sales during times of recession - The Hollister is a company whose price of
clothing is normal and a person with nominal income can buy their clothes. That is why
in times of recession when peoples spend less on clothing of luxury brands like Burberry.
Therefore, the consumers finds substitute by purchasing from clothing on nominal price
such as Hollister. Government spending on infrastructure – The government of every country spend on
infrastructure to improve and facilitate their countries environment of business. But
amount of money spend in every country is different. The company like Hollister faces
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difficulty in occupying and selecting proper infrastructure in different countries as the
spending of every country in sector of infrastructure is different.
 Price of clothing – The prices of the fashion stuff that is offered by Hollister is cost
effective as the companies clothing is majorly concentrated on middle to upper income
class of people. The consumer finds their quality is fair enough when comparing with
price. Therefore, the price range affects their sales and tends it to increase because of the
nominal and affordable price offered by Hollister. Pricing of their clothing also attracts
most number of consumers.
Socio cultural Analysis Culture difference – The countries in which Hollister trade have different culture. Like
culture of Hong Kong is different from Europe and Shanghai. Also, taste and choices of
Shanghai is far different from South Korea and US (Ji, and et.al., 2016). The company
Hollister is dealing is American lifestyle clothing which is not chosen by most of the
Chinese residents because of the cultural difference in American and Chinese culture. Public opinion – Media outlets are growing rapidly and this influences opinion of public
in which the Hollister is trading. The company makes a good and presentable impression
on Media in order to increase in sales by building efficient network on social media and
traditional media. Also, company can choose these networks as an efficient marketing
option.
 Consumer buying pattern - Buying pattern of natives of countries the company trade is
different because the company offers clothes which reflects American fashion. The
countries like China and South Korea is not ready to adapt the western culture clothing
Hollister offers. The company's sales affects in these countries as they follow their
traditional culture and company is not able to earn revenue what they expect.
Technological Analysis Creating online presence to increase the sales – The company Hollister sales their
clothes by creating official website. By this, Hollister can create awareness among
potential consumers of different geographical boundaries. Also, they can avail delivery at
their convenience facility so that order placed by consumers received them in their
convenient boundary (Dale, and Frank, 2017).
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 Online payments in stores of convenience to consumer purchases – The Hollister
company opt for online payment that is payment made for purchases with debit card,
credit card and internet banking methods. This provide convenience to consumers as they
don't need to carry cash with them and also this is time efficient for company as well as
consumers.
ASSESSMENT 3
4P's marketing plan
Product
CORE An American lifestyle clothing company
ACTUAL
 Variety of clothing range - The company Hollister
offers different clothing range of American lifestyle
that is for kids, men and women.
 Size and Quality - Also, it gives a quality wise
clothing material in a reasonable price. All sizes are
available in these clothing range i.e. 8, 10, 12, 14.
EXTENDED
 Exposure of American culture - The Hollister is
exposing American clothing which follows their
lifestyle and will expand in UK (Brečić, and
Simintiras, 2016).
 Easily access - The company makes their clothing
products easily accessible and approachable by the
potential customers.
CHANGES
REQUIRED FOR
TRADING IN UK
 Britain clothing - The company Hollister is operating
in the market of UK. Hollister will include their range
of products that is American culture clothing. Along
with they will also launch range of women clothing
exclusively for women for establishing their image by
promoting culture of Britain. The Britain culture will
attract more customers towards their stores. The
company will increase their sales and create customer
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base by developing products according to culture of
Britain.
 Clothing according to special events - Hollister will
also launch clothing according to Britain events and
fests that will increase their sales and creates a better
image in mind of consumers.
PRODUCT
DIVERSIFICATION
 Shoes and bags range - In addition, the Hollister will
supply range of shoes, and bags for men and women
both to increase sales of the company and to capture
new market segment.
 Cheap Wednesday - The Hollister will launch strategy
of cheap Wednesday every month and on that day they
sell their old stock clothing at 10% discount than
regular price.
Price
PRICE
The company Hollister offers different prices for different age
group. The company segregated price according to kids, men
and women group and different sizes within it (8, 10, 12, 14).
Also, the price may vary with pattern of clothing i.e. American
and Britain (Khan, Khan, and Mahmud, 2016). Generally the
price range are as follows :
 Kids clothing range between £33.2 to £55.34
 Men range of clothing is between £66.4 to £221.35
 Women's clothing in between £66.4 to £333.02
PRICE SENSITIVITY
OF UK
 The price range of clothes offer by Hollister varies by
their pattern. Hollister offers different range of pricing
for kids, men and women.
 The consumer behavior of UK is more depended on
local brands. Therefore, company will compare their
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prices with local brands which will seems to be higher.
The company will decline their expenses in order to get
in correspondence with Local brands.
MARKET ENTRY
STRATEGY
 Price skimming strategy - the company will use
different market entry strategies to gain their position
in market of UK. Hollister will follow price skimming
strategy in order to attain high profitability and
competitive advantage. The local brands of UK will
give tough competition to Hollister as the company is
entering in their market of trading. So, by skimming
price strategy company will increase their customers by
attracting the customers of their rivalry brands.
 Competitive pricing strategy – Hollister will also
follow competitive pricing as their strategy of pricing.
The company will set their price according to their
rivalry companies. By this the company create a base
of customers who trust in their clothing brand and give
strong competition to competitors by setting same
prices for their clothing.
Place
The company will offer their clothing by different distribution channel. As the company want to
expand in UK, so they need to execute by trading in the country. Hollister will follow certain
distribution channels :
DIRECT SELLING
The company Hollister will follow direct selling channel
through distributing to final customers by the company's
owned distributor. This will create a customer base and bond
between consumer and the company. By eliminating middle
man, the company will actually offer clothing products of the
company at lower price.
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SELLING THROUGH
OPENING OF
STORES BY
FRANCHISERS
Franchisers stores will also opt by the company. The company
will sell their clothing by offering their brand clothing to
franchising stores at UK (Kottier, 2017). This will enhance the
business of franchiser and also creates awareness of customers.
They can increase their sales in the new market by operating
franchisers in UK. The company will open at least 10 stores all
over UK to create a strong customer base in UK.
ONLINE
DISTRIBUTION OF
CLOTHING
The Hollister will also create their customers by selling
through their official website. The official website will be
accessible all over world. By this company will create a
customer base with a very less financial investment. Also, they
can attract customers from other countries of the world where
they are not operating with their stores. The online presence
will create many benefits to the company as they will create
awareness for their brand among many new customers.
Promotion Advertisement – The company Hollister will opt advertisement in national newspaper of
UK for promoting their brand. Also, they will promote their sales through television
advertisement and radio publications. This will bring consumer awareness about the new
brand exposure in their country. Social media marketing – The Hollister will establish social media presence by creating
advertisement, blogs, posts on social media marketing. They will also promote paid
social media ads in order to get effective results. The company will create a strong
customer base by promoting through social media ads. Also, they will attract customers
from different geographical area. The consumers need and desires will also be
acknowledged by the company. Sponsorship – The sponsorship program attracts more number of consumers. The
company will focus towards sport teams like Golf and Football because these teams has
huge fan base in UK and sponsorship by Hollister will attract those fans to purchase. This
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is an effective promotional technique that can attracts more number of customers among
UK. Free samples – The company Hollister also allow free samples to attract customers of
competitors brand. The company will distribute free clothing such as tee shirts so that
customers can experience the quality of newly exposed brand in their country. This will
help company in gaining consumer loyalty by giving them free samples of their clothing.
 Discount coupons – The discount coupons can also be used as promotional technique.
The company will collaborate with other events which offer their guests special discount
coupons. This way Hollister will gain customers and also make able to achieve their sales
target. The customer re purchase their clothing in order to redeem their coupon and gain
experience of the Hollister brand.
ASSESSMENT 4
Why and how the government of Singapore promotes international trade process.
The international trade process is promotes by government in various ways :
A robust ecosystem - Singapore's government promotes international trade process by creating a
robust ecosystem in their country. The government make investment by different agencies and
ministries & statutory boards. Such agencies are Ministry of trade and industry (MTI), it is
established to promote growth of economy and job creation in order to achieve high living
standard by citizen of Singapore. This ecosystem enhances towards global markets for
investments, goods and services. Also, provide a clear understanding in current state for
formulation of policies. There are ten statutory boards in MTI which includes Singapore's
Economic Development Board. This agency of government is responsible for planning and
execution of various strategies in order to enhance position of Singapore in innovation and global
business. Like in Dell, their Geo-political landscape and infrastructures with high-technology
enables the company to bring forward benefits of solutions related to technology for their
customers in Pacific Asian region (Unel, 2015).
China-Singapore cooperation - Company initiate by making effort on China-Singapore
cooperation. Both the countries are agreed on initiatives so that to strengthen the cooperation in
financial sector. Such as use by Renminbi (RMB) by Singapore. China will extend their
Renminbi Qualified Foreign Institutional Investor (RQFII) to the country Singapore. For more
innovation both the country will introduce ease by direct currency trading between Dollar of
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Singapore and Yuan of China. This enables cross border flow with an ease and also lead to
strengthen the global business in both the countries. Also, Government of China and Singapore
agreed to empower issues related to banking regulatory. They signed MOU and RMB for
building initiatives between People’s Bank of China (PBC) and Monetary Authority of
Singapore (MAS). The excellent relation between them leads for the promotion of RMB in order
to trade of long term and future investment.
Importance of free trade for growth and survival of Singapore
It promotes trade and increase competition – Free trade increases the competition between
domestic producers that is producers of Singapore and Foreign producers. This enables to
increase in productivity in business of Singapore and gave them opportunities to expand by
selling abroad and earn cost by economies of scale.
Creation of job and economic benefits to business entity of all size – Free trade enables the
businesses to increase in competition and resultant they use allocated resources in efficient
manner. This increase the overall productivity of businesses and average wage of employees also
raise (Bende-Nabende, 2017). Free trade affects productivity of all small and medium sized
business of Singapore as this enables them to export more in other countries.
Improvement in technology – The free trade in Singapore accelerates technology improvements
because the companies prefers to trade cross border which implements them to use advance
technology in order to be trade done in effective and efficient manner.
Improvement in living standard – The citizen of Singapore experience the quality of life while
engage with free trade. This allows goods at low price entered in the market. The Lowest price
of goods increases the purchasing power of consumers. They tend to purchase more to enhance
their living standards and also generate economic growth towards nation.
Role of Singapore's government in achieving title of the most open economy in the world and
highly developed trade oriented market
The government of Singapore owns the title of most open economy in the world and a highly
developed trade oriented market.
Role of government of Singapore towards achieving this feat are :
Initiate China-Singapore cooperation - The Singapore's government enables initiatives like
China-Singapore cooperation in order to attain trade benefits with the country china (Ali, and
Abdullah, 2015). This way the government increases their investment in capital market, banking
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industry and infrastructures to develop the countries business. China government also contributes
various schemes like Renminbi Qualified Domestic Institutional Investor (RQDII) to qualify
Chinese investors to use RMB, so that they can invest in capital market of Singapore.
Create a Robust ecosystem - The government of Singapore contributes to promote trade
internationally and investment through different agencies and ministries. Like, Ministry of Trade and
Industry of Singapore to promote job and opportunities for growth of economy.
Companies like Trina Solar get support by Singapore's government through investment in Energy
Innovation Program Office (EIPO). So that the company can develop their skills and create strong
infrastructure.
The giant FMCG company like Unilever also get support from government of Singapore. The
company executes leadership program and development of talent by the support of government.
Also, they contribute in Unilever by building business infrastructure and human capital to create
strong base in global market.
ASSESSMENT 5
Social issue of Unemployment
Enclosed in Infographic.
CONCLUSION
The study will conclude about work portfolio, which was divided into five segments.
The report was begun with reflective analysis of some essential moments of life. Then comes
PEST analysis and 4P's marketing mix of the company Hollister. The report then focuses on free
trade businesses in Singapore. Then at last report was ended by explaining social issues by info
graphic poster. Here the topic taken as social issue is Unemployment.
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REFERENCES
Books and Journals
Afonina, A., 2015. Strategic management tools and techniques and organizational performance:
Findings from the Czech Republic. Journal of Competitiveness. 7(3).
Ali, W. and Abdullah, A., 2015. The Impact of Trade Openness on the Economic Growth of
Pakistan: 1980-2010. Global Business & Management Research. 7(2).
Apergis, N. and Salim, R., 2015. Renewable energy consumption and unemployment: evidence
from a sample of 80 countries and nonlinear estimates. Applied economics. 47(52).
pp.5614-5633.
Bende-Nabende, A., 2017. Globalisation, FDI, regional integration and sustainable
development: theory, evidence and policy. Routledge.
Brečić, R. and Simintiras, A., 2016. The Moderating Effect of Perceived Effectiveness of SMEs'
Marketing Function on the Network Ties-Strategic Adaptiveness Relationship.
Dale, A. G. and Frank, S. D., 2017. Warming and drought combine to increase pest insect fitness
on urban trees. PloS one. 12(3). p.e0173844.
Faniel, J., 2016. Belgian trade unions, the unemployed and the growth of unemployment. In The
Politics of Unemployment in Europe (pp. 115-130). Routledge.
Ji, H., and et.al., 2016. Map-based cloning and characterization of the BPH18 gene from wild
rice conferring resistance to brown planthopper (BPH) insect pest. Scientific reports. 6.
p.34376.
Khan, Z. A., Khan, S. H. and Mahmud, U., 2016. International Marketing Strategies;
Standardization, Adaptation, and Contingency Approach. Marketing. 1009. p.4Ps.
Kottier, W. G., 2017. Marketing strategy for online SMEs (Master's thesis, University of
Twente).
Sievertsen, H.H., 2016. Local unemployment and the timing of post-secondary schooling.
Economics of Education Review. 50. pp.17-28.
Unel, B., 2015. Human capital formation and international trade. The BE Journal of Economic
Analysis & Policy. 15(3). pp.1067-1092.
Online
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