Business Skills Report

This report provides a comprehensive analysis of business skills, focusing on the food and beverage retail market in the UK. It includes a market research analysis, a SWOT analysis of Tesco (a major competitor), a PESTLE analysis of the external environment, and Porter's Five Forces analysis of the competitive landscape. The report also details a business proposal for a new food and beverage retail store, outlining its strengths, weaknesses, opportunities, and threats. Furthermore, it describes a formal business meeting, effective participation strategies, and a critical evaluation of the entire business planning process. The report concludes by emphasizing the critical nature of thorough planning and consideration of all relevant factors when launching a new business in a competitive market.

BUSINESS SKILLS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Researching and analyzing of a market.................................................................................3
1.2 SWOT analysis of TESCO....................................................................................................4
TASK 2............................................................................................................................................5
2.1 PESTLE analysis...................................................................................................................5
2.2 Porter's five force analysis.....................................................................................................5
2.3 Business proposal..................................................................................................................6
TASK 3............................................................................................................................................7
3.1 Formal business meeting.......................................................................................................7
3.2 Effective participation............................................................................................................7
3.3 Business proposal..................................................................................................................8
3.4 Critical evaluation..................................................................................................................8
TASK 4............................................................................................................................................9
Critical Evaluation.....................................................................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18
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INTRODUCTION
The business skills are very essential in the success of any organization. Some of the
business skills like financial management, management of sales and services, leadership
qualities, time management, project planning etc. Some other skills like problem solving
techniques, and the networking by which good relationship can be maintained will also have the
impact on the business. In UK, food and beverages market is very popular and it will be a good
idea to open a retail store which will focus on these items. This report will include the different
environmental factors which can affect the performance of the company (Mason and Harrison,
2015). This will also shows the competitors strength and weaknesses. The processes by which
the business can be improved and the performance can be increased will also discussed in this
report.
TASK 1
1.1 Researching and analyzing of a market
The market research report is all about the trends and the condition of the market. UK
food and beverages industry is expanding in the last couple of year. There are number of new
stores which are supplying the soft drinks and our organizations new business is food and
beverages only. There are various business sectors in UK like, tourism, fashion, media,
cosmetics and food and beverages retail stores. But the best market or the industry is retail
supply of drinks (Cacciolatti, Lee and Molinero, 2017). This sector is earning huge profit in the
market. But the biggest change which took place in F&B sector is the decision of the country to
leave European union.
Our organization is opening some new retail stores in London, which will give tough
competition to the other competitors like TESCO and Sainsbury. They are the leading brnads in
retail sector. The main aim of the company is to supply the F&B on a very reasonable cost,
which is less than the cost offered by other retailers. The quality of the products should also be
on the higher side. This will give them very tough competition.
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1.2 SWOT analysis of TESCO
TESCO is the biggest competitor in the market, so the organization have done a SWOT
analysis to find out their strength and weakness, which will help the organization in making their
plan (Porter, 2014).
Strengths
 World's most valued brand.
 Wide range of products
 Sensitive and accurate management
 Very innovative business methods
 low prices of products and availability.
Weaknesses
 Profit is affected by bad debts from the
creditors
 lack of experience in some market
 Investment of huge amount of money in
new technology
Opportunities
 Expansion of stores into other
countries
 Usage of digital entertainment
 offer online shopping on all the
products and home delivery also.
Threats
 Increment of new competitors
 The rise of Wal-mart, which is the 9th
most famous retail store.
 The investors are looking for substitutes
for investing the money, and by this the
market shares will go down.
The biggest strength is its popularity in the entire world. It is the organization which
offers the value for money and are having a wide variety of products. The management is also
very sensitive and can fluctuate with the market. The other strength of TESCO is the cost of the
products which are very low and easily affordable (Jackson, 2014). But sometimes the
companies are not able to provide the products at the right time. It is not the case with TESCO.
The products are always available in all the stores and they are very fresh.
The main weakness is the lack of experience in some market like insurance, furniture. Its
main business is F&B, but it lacks in other businesses. Also the investment the company has to
put in implementing the new technology in all the stores, so that they can meet the customer's
requirements (Alison Doyle, 2017). This will be the biggest weakness of TESCO.
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TASK 2
2.1 PESTLE analysis
Political factors
Many trends have their impact on F&B industry. The food retail stores are having
healthy and diet food and beverages because some of the health policies are making sure that the
food provided must health food.
Economic factors
The state and rules of the country and the unemployment rates can affect the F&B
industry (Taylor and Hooley, 2014). The economic stability of the country can also have positive
impact on the industry.
Social factors
The trends keep on shifting the requirements of the consumer. Now people are
more focused on organic food so that they can maintain their health. Thus, it will impact on the
organizations food and beverages retaining chain.
Technological factors
It is necessary in creating the packaging and billing of the items. This will help in
promoting the drinks and food, as marketing.
Legal factors
Different laws, rules and regulations will have an impact on the organization.
Environmental factors
The aim of the organization is to reduce global warming and emission of carbon
and wastage from their stores. The organization will have to improve its waste disposal facility.
2.2 Porter's five force analysis
Competitive rivalry
This rivalry is due to the other firms which are well established in the market like
TESCO, Sainsbury. They will give huge competition to our company.
Bargaining power of buyers
The bargaining power of consumers is very strong, and they gain an advantage
over the company in bargain because of the substitute products (Loader, 2013). The organization
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have to keep the cost as low as possible and the quality very high, if they want to succeed in the
F&B industry.
Bargaining power of buyer
The company have to keep the suppliers happy and they have to maintain a good
relation with them. So they can get the product on the lowest price.
Threats of substitute
This is the main threat for the company. Because in this industry, the well
establish firms are already having products which are having low cost and better quality. So the
organization must keep the cost low to attract more number of customers.
Threat of New Entry
Our company is already a new entry in the market and it is possible that other new
companies will also enter in the industry (Clark and Martin, 2016). It is a big threat because our
company is relatively new and it is yet to establish itself.
2.3 Business proposal
Introduction: This is the business proposal of the retail store in food and beverages
industry.
Business proposal
The main idea of this business is to provide good quality of food and beverages
of high quality and on very reasonable cost.
 Details: The store will be a retail one, which will include all sort of food
items, whether it's vegetables or diet food. The stores will also be having
all types of drinks and almost from all the brands.
 Customer's profile: Young generation and adults will be the main
customers because the they only want the healthy and diet food and our
stores are providing that.
 Major competitors: The major competition of our stores is from TESCO.
This company is well established and we have to make sure that our stores
are very close to the people and all the products are available in stores.
The main strength of our business is the products we are offering. All the products are
very cheap and easily affordable by all class of people. At the same time the quality of the
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products are also good (Hodges and et.al., 2015). The major weakness of our business is that it
new in market. There are already well established firms in industry. So it will take time for our
company and products to gain some popularity in the market. Thus, the profit in the early days
will be very less.
Conclusion: from this report, it has been concluded that the retail stores of our company
is relatively new in the industry. But the products quality and cost is according to the needs of
the customers. So we can say that the retail store will be very successful in the near future.
TASK 3
3.1 Formal business meeting
The formal business meeting is being held among all the employees of the company. The
agenda of this meeting is:
 To discuss on developing the new idea for business.
 To find out the profitability of the business.
 To understand the effectiveness of the business in the current market trends.
The per meeting communication will be conducted which is based on the selection of the
idea. All the employees are free to present their view and ideas about the future business. If the
company want to achieve the success, then they must know about the current market conditions,
culture and behavior of the people which can affect the business. The company can use new
technologies which will give the high quality of products (Gul, and Mehmood, 2016). The
discussion will be held on the price range of the products which will give more profit to the
company. The total minutes of this formal meeting will be around 150 minutes.
In the post meeting communication, all the employees should be given a sample template
and they have to write their views on the meeting(Shuayto, 2013). The company have to take all
the factors into consideration like the quality of the product, the competition in the market, the
needs of the consumers and the factors which can affect the business.
3.2 Effective participation
For effective participation, each employee of the organization should be present.
Everyone must pay the attention about the things which are presented in the meeting. They
should get involved in the discussion, so that they can share their thoughts and ideas. The best
business winning idea is the use of existing technology. By the use of existing technology, the
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cost of the product will be reduced to the company. The retail stores will also having the old
technology which will reduce the investment cost. This will produce the products which will be
having very low price and high quality. This will be acceptable by all the consumers.
3.3 Business proposal
The proposal of the business will deal with all the debating points which can occur during
development of the business plan. The proposal is having all the points which mandatory for the
success of any business. All the decision makers must be present at the time of business
proposal, so that they can decide which point will affect the most to the organization. The main
debating point will be the price of the products, the location of the stores and the brand which we
are selling in our stores. At the same time the company have to take all the micro and macro
environmental factors into consideration and how they can have an impact on the business. From
my point of view, the idea which is selected is the best one for any new business, because it is
putting direct impact on the consumers.
3.4 Critical evaluation
The meeting was very successful as everyone was able to give their opinion in
developing the business idea for the company (Essential business skills, 2017). Overall the aim
of this meeting was to gain the competitive advantage in the market over their competitors. The
final outcome was that the company is opening a cafe “River Rock” in London UK. By opening
this cafe, the company will be able to meet the agendas set by them before the start of the
meeting. The meeting was successfully completed in the given time period, so overall the
effectiveness of the meeting was good.
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TASK 4
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