FILS Limited: Business Development, Sustainability, and Feasibility

This report provides a comprehensive analysis of FILS Limited's business development plan within the hospitality industry, focusing on its food and beverage delivery services in London. It outlines a detailed development plan, including identifying the target market, conducting market research, identifying competitive advantages, selecting business development strategies, and choosing effective tactics. The report also assesses the feasibility of the new product or service through financial and accounting schedules, including profit and loss accounts, balance sheets, and cash flow statements, along with financial projections. Furthermore, it explores the sustainability of the business, emphasizing the importance of economic, social, and environmental factors. The report concludes by discussing factors that may limit development, such as aggressive marketing campaigns and competitor identification, offering a holistic view of FILS Limited's potential for success and growth.

Fils Limited Company

EXECUTIVE SUMMARY
The report summarises that various businesses are continuously launching under
hospitality industry and a development plan for a new business which is willing to acquire
development has been generated in this report. Importance of sustainability and limitations of
achieving development has also been discussed under this report. Use of financial and
accounting schedules for measuring feasibility have been described in this assignment.
Developments methods that are going to be under taken by FILS Limited have also been
describes in this report.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
CHAPTER 1: INTRODUCTION....................................................................................................1
CHAPTER 2: DEVELOPMENT PLAN.........................................................................................1
CHAPTER 3: FEASIBILITY OF THE NEW PRODUCT OR SERVICE.....................................3
CHAPTER 4: THE SUSTAINABILITY OF NEW PRODUCT OR SERVICE............................5
CHAPTER 5: FACTORS THAT LIMIT DEVELOPMENT OF THE PRODUCT OR SERVICE
..........................................................................................................................................................8
CHAPTER 6: CONCLUSION......................................................................................................10
REFERENCES..............................................................................................................................11

CHAPTER 1: INTRODUCTION
Hospitality industry is a big part of service industry that includes event planning, tourism
sectors, hotels, transportation, event planning, theme planning etc. Main objective of this
industry is to provide such services to the customers that may fulfil all their requirements.
Various new businesses are launching under hospitality sector and it is very important for them
to formulate a proper business plan so that all the activities can be performed appropriately
(Boella and Goss-Turner, 2013). Different types of services are provided by hospitality industry
in which they render all of them to the public so that they may acquire higher amount of profits
by satisfying their customers. Success of all the business who provide services depends upon
customer satisfaction. In this report business development for FILS Limited which is a service
delivery company for food and drinks in South Bank Centre in London have been discussed.
Different aspects are included in this assignment that are a development plan for the new
business, different methods of development and feasibility of new services that are launched in
the market.
CHAPTER 2: DEVELOPMENT PLAN
Development plan is a detailed description of the activities that are going to be performed
by the work force of a company in order to expand business and attain higher profitability. It is
mainly created to guide managers to execute all the development strategies for the purpose of
achieving growth. For FILS Limited it is very important to create a development plan so that
business can be developed and successfully accomplish all the business goals (Boone and et.al.,
2013). It will help to establish the business in the market. A detailed development plan for FILS
Limited is as follows:
 Identifying target market: While a new business in launching it self in the market it is
very important to identify the target market to establish it successfully. First of all
marketers of FILS Limited have to determine its target customers to attain development.
For this purpose a survey can be conducted by the managers so that detailed information
of target market can be gathered. As FILS Limited is a new business hence it should
select a narrow target customers so that their feedback can be recorded to formulate
strategies.
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 Research about the issues of target market, buying behaviour and competitors: In
second step the marketers are suggested to conduct a market research in which issues of
target audience, their buying behaviour and existing rivalry in the same market can be
determined (Business Development Plan, 2018). While introducing delivery services in
UK FILS Limited can consider all these elements to make decisions as they may help to
modify services according to the perception of target market. The competitors who may
leave impact upon business of FILS Limited are Booze Runners, Cubana, Arancini
Brothers Old St. etc.
 Identification of competitive advantage: In this step the organisations have to identify
their competitive advantage in which they needs to analyse that what unique products or
services they are delivering to the market that make them different from others. FILS
Limited is going to deliver services to the food and beverage sectors in London the
unique feature which is going to added is fast and low cost services as compare to other
companies who are already delivering the same type of services.
 Selection of overall business development strategy: In this stage the managers of FILS
Limited have to select the best business development strategy for its elf so that business
can acquire growth in market. Marketers of the firm are going to use incremental
development strategy which is going to provide benefits to the company in long term as it
is slow and steady (Brotherton, 2012).
 Choosing business development tactics: For the business development it is essential to
select effective tactics that may lead through out the way of success. FILS Limited should
assure the quality of service, make balance between digital and traditional techniques so
that it can capture large market share.
 Specification of the way in which implementation and impacts are going to be
monitored: At last FILS Limited should analyse the impact of all the business activities
so that it can be assured that it is not conducting any illegal activities and also not
harming society. All the strategies that are made should be implemented to get positive
and favourable results.
When FILS Limited is willing to achieve development than it is essential to follow all the
abode mentioned steps so that business can be expanded successfully.
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Method of development: These are the set of tools that are mainly used to attain
development for business. There are two major methods of development that are going to be
undertaken by FILS Limited. Both of them are as follows:
Aggressive marketing campaign: It may help the company to aware large number of
customers about the delivery services that are going to be rendered by FILS Limited. An
aggressive marketing campaign is an effective method that can be used by the organisation in
order to provide weight to its marketing activities (Chen and Shen, 2012).
Identification of competitors: It is very beneficial for an organisation to identify its
existing competitors so that effective strategies can be formulated to achieve growth and
development for the business. FILS Limited will get information of all the existing rivalry in
service sector for the purpose of attaining higher profitability.
CHAPTER 3: FEASIBILITY OF THE NEW PRODUCT OR SERVICE
Feasibility depends upon the decision making process of the managers of the company
that enhance viability for the business. For FILS Limited it is very important to be feasible in the
market so that a positive market image can be established in the market. It is essential to
establish the business successfully so that long term goals can be achieved (Cook, Hsu and
Marqua, 2014). The feasibility can be acquired with the help of financial and accounting
schedules of the company and the financial projections that are based on market and the services
that are going to be rendered by FILS Limited. Financial statements of the company are as
follows that may help to be viable in the market:
Profit and loss account:
Particulars Amount
Sales £15,000
Cost of Goods Sold £8,000
GROSS PROFIT £7,000
Expenses £1,200
- Salary £2,000
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- Rent
OPERATING PROFIT £5,000
Depreciation £360
PROFIT BEFORE TAX £4,640
Taxes - 20% £928
NET PROFIT £3,712
Balance sheet:
ASSETS LIABILITIES
Cash/Banks £1,400 Bank Loans £600
Inventory £500 Accounts Payable £400
Acc Receivable £1,000 TOTAL LIABILITIES £1,000
Fixed Assets
- Gross £3,600 EQUITY
- Acc Depreciation £360
- Net Value £3,240 Capital £1,428
Retained Earnings £3,712
TOTAL EQUITIES £5,140
TOTAL ASSETS £6,140
TOTAL EQUITY +
LIABILITIES £6,140
Cash flow statement:
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INITIAL BALANCE £0
CASH IN
From Operations £4,500
From Investment £1,400
CASH OUT
From Operations £3,300
From Investment £1,200
FIANAL BALANCE £1,400
From the above financial statements it can be analysed that organisation can establish its
business successfully in market. As FILS Limited is generating profit whether it is large or small
this can help to evaluate total profitability of the company and the managers can also analyse that
organisation will be able to attain success and profits in upcoming years or not. Profits that are
determined from the profit and loss account of FILS Limited are 3712, total cash inflow for the
organisation is 1400 and total equities and liabilities of FILS Limited are 6140. It shows that
organisation is feasible and can operate business with higher profits in future.
Financial projections: These are the estimates that are made according to the current
data of the company. These are made to reserve funds for the future activities that are going to be
performed by the organisation (Grissemann, Pikkemaat and Weger, 2013). If a business is having
sufficient funds for the operations than it will help to execute business properly. Financial
projections for FILS Limited are as follows:
Particular Amount
Marketing activities 1200
Research and development 1500
Building 11000
Equipments 15000
Salaries 500
Vehicles 9800
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Total 39000
It has been estimated that FILS Limited should reserve 39000 that can be invested in
various activities of the organisation in future. To evaluate sustainability of an organisation under
hospitality industry it is very important to evaluate financial strength and its market image which
is required to successfully set up the business. The above attached accounting and financial
schedules can help to evaluate feasibility of a company. There is a possibility that FILS Limited
will achieve success in future as it is generating profits according to its profit and loss account.
CHAPTER 4: THE SUSTAINABILITY OF NEW PRODUCT OR SERVICE
Sustainability can be defined as the process of maintain fluctuations in the balanced
pattern that help to utilise all the available resources effectively. It helps to enhance investments
for the business and also facilitate to develop technologies in the business by providing
transparent information of the business to the investors and other stakeholders. It can be defined
with the help of three main factors that are social, environment and economic (Jones, Hillier and
Comfort, 2016). For FILS Limited it is essential to achieve long term sustainability so that huge
success can be acquired. Higher level of customer satisfaction and meeting their basic needs are
the main tools that can help to be more sustainable in the market. FILS Limited is a new
company who is going to supply delivery services in London, if the managers are able to manage
all the activities effectively and appropriately than it can help to achieve long term sustainability.
Importance of sustainability:
 Sustainability is very important to operate business effectively as it help to establish a
good market image (Importance of Sustainable Development, 2018).
 For FILS Limited it is essential to be sustainable in the market so that competitive
advantage can be attained.
 Organisation can meet the higher level of sustainability with the help of satisfied
customers which is result in higher profitability.
 While a business entity is willing to formulate such strategies that may help to utilise all
the resources of business appropriately than sustainability can help for the same as it
guides for the proper exploitation of resources.
Three are three major pilers of sustainability that are required to be focused while
formulating business related decisions. All of them are described below:
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Economic development: For the managers of FILS Limited it is vital to consider
economic factors when they are making decisions for the betterment of the organisation. They
have to look out that their decisions are economically sound or not. It also includes the benefits
of employees that are bonus, incentives and others. If FILS Limited remain economically strong
then it can offer high benefits to its employees according to their performance so that their work
quality can be enhanced (Swarbrooke and Page, 2012). An organisation who is having
sustainability but not economically developed than it is not possible for it to be succeed in the
market. For all the business entities who are operating business under hospitality industry it is
very important to be economically developed as this can help to remain competitive in the
market.
Source: Sustainable development, 2018
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Illustration 1: Sustainable development, 2018

Social development: Organisations are only interested in sustainability if it is having
such employees and managers who are well educated. In hospitality industry all the organisations
are suggested to be developed socially in which they are aware of all the legislations that can
affect business of the companies. As FILS Limited is a new company who is going to develop its
business in market than it should assure that it is not harming the society by its business
operations. To enhance the strength of social development FILS Limited required to develop its
economic strength because it is not possible to be educated or socially aware without having
sufficient economic resources. FILS Limited is rendering delivery services to the market and it is
a part of hospitality industry hence it is very important for the company to train its employees so
that they can contribute in social development by enhancing their work quality (Prud’homme and
Raymond, 2013).
Environmental protection: It is the last pillar of sustainable development which is
required to be focused by the organisations who are operating business under hospitality
industry. According to this element the companies should not perform such activities that can
harm the environment. For FILS Limited it is vital to be more involved in environment
protection activities that may help to be easily adopted by the society. As it is offering delivery
services to the customers than it can use such vehicles or equipments for the delivery process that
are eco friendly and not affecting environment.
All the above mentioned factors should be considered by FILS Limited so that it can
attain higher level of sustainability and develop its business successfully. When the organisations
are focusing on all the three pilers than it can help to achieve long term sustainability in the
market.
CHAPTER 5: FACTORS THAT LIMIT DEVELOPMENT OF THE
PRODUCT OR SERVICE
There are various different types of factors that can limit the development of the products
or services that are offered by newly launched company. FILS Limited should gather
information of all such type of factors and than formulate strategies accordingly so that business
can be operated effectively. If the company is not able to deal with all these kinds of factors than
it may affect the operational capacity of the organisation and also result negatively. In hospitality
industry there are various limitation that are affecting the development process of the business
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that are a part of this sector. All the limitations for the development of products or services in
hospitality sector are described below:
Insufficient information of market: It is the major limitation of the development of
services in hospitality industry because it the information is not sufficient than it will misguide
the managers of FILS Limited and they will formulate wrong decisions that can affect the
development of its services. While making any kind of judgement the mangers should assure that
they have sufficient data to attain success in the market.
Unreliable data: If the data which is used by the marketers and managers is unreliable
than formed strategies will respond negatively and unfavourably for the company and also
reduce the possibilities of being developed. As FILS Limited is a part of services industry if the
markets use any in-transparent information than it will lead the company toward failure.
Lack of qualified employees and work force: The employees of the company are
required to be educated if they are not well educated than they will not be able to perform the
tasks that are provided by the mangers to them. This will affect the development of FILS Limited
because uneducated workers will not be able to use technology and other latest facts that can
help to be developed (Martínez, Pérez and Rodríguez del Bosque, 2013).
Frequent changes in economy: If the economy changes frequently or the inflation or
deflation rates falls or rises than it will affect the development of the services of hospitality
industry. When changes are made in inflation rates than it affect purchasing power of customers
if customers are not able to pay the appropriate amount for the services that are rendered by FILS
Limited than it will affect on the development process. It is very important for the company to
keep information of all such type of variations so that appropriate strategies can be formulated to
respond appropriately to all the changes.
Institutional weaknesses: It includes the lack of coordination among employees of the
company, involvement of political factors etc. As FILS Limited is a new company who is willing
to be developed in the market hence it is very important for the mangers to be coordinated with
the work force so that they can perform all their duties effectively. If these is higher involvement
oh political parties in the operations of the business than it can also affect the development
process of the company.
High level of illiteracy: when there is a high level of illiteracy in the society than it is
obvious that they are not aware as well as friendly with technology this will also limit the
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