Shining Shoes: Business Plan, Value Creation, and Operations

This assignment presents a business plan for 'Shining Shoes,' a new retail venture located in Liverpool, UK, specializing in sports and formal shoes. The plan outlines the business's operations, including its retail business model and online presence. It identifies the target market as office workers and health-conscious individuals seeking quality footwear. The assignment emphasizes value creation through high-quality products at competitive prices, environmental responsibility by using paper bags, and providing equal opportunities for employees. The business model leverages a departmental store format with online ordering and delivery. The plan also includes a market analysis, location strategy, and a focus on customer satisfaction and environmental sustainability. The assignment concludes with a summary of the key aspects of the business plan and highlights the importance of market analysis and value-driven operations.

Task 1

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
About the Business......................................................................................................................1
Value Creation to Promote the Business.....................................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Launching a new venture is a very long process. There are various things which are
necessary to be taken into consideration in order to successful launch of the business. The new
business venture which is launched is named as “Shining Shoes” and will provide sports shoes
and formal shoes to their customers. This assignment will focus on various aspects such as the
operation of the business which will further contain several other parts. In addition to this, the
assignment will also focus on the visual identity of the business as there comes a need to provide
some special logo or symbol which reflects on the name of the company. Further the assignment
will also focus on the value which the business will consider and provide to promote the business
in the market.
MAIN BODY
About the Business
The new venture which is named as “Shining Shoes” will be launched and will be located
in front of the Tower Building in Liverpool, UK. For this business, the company has chosen to
take a shop on rent where the business will be operated (Kenney and Zysman, 2019). The
company will deal in retail industry where it will sell the products of big brands (only sports and
formal shoes) to the customers. The chosen location for the business is also best because of two
reasons, as one of them is because the area is populated and the second one is because the people
living nearby this place are high class people and are also health conscious who can purchase the
expensive products. Health conscious here refers to those people who are concentrated towards
their health and they do exercises on daily basis and jogging is also one of them. So the people
will buy our sport shoes for jogging. The targeted customers for this business are the people who
go to office daily, for them the company is selling formal shoes and for those who purchases
shoes for their comfort and also they are health conscious so the sports shoes will be best for
them to use during jogging or doing any other exercises (Kraus and et. al., 2019).
Business Model can be defined as the model or structure which supports the viability of a
product and company and explains how the company operates, makes money and will achieve
the goals and objectives for which the company is working (What is a Business Model? Types of
Business Models, 2018). For this business, it will use the Retail Business Model. The business
will be in the form of Departmental Store where it will provide a variety of shoe products to their
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customers. In addition to this, the company will also have an online presence of their business. It
will take orders online and will also deliver them directly to the customers.
Value Creation to Promote the Business
The business will provide high quality products to their customers at relatively lower
prices than other sellers. It will help in creating social value for the business. In addition to this,
the company's operations will not create any bad effect on the environment as it will avoid the
use of poly bags and will make use of paper bags to contribute towards environment protection
(Jiang and Tornikosk, 2019). Further the business will also focus on providing all the employees
equal opportunity to work and fulfil their own personal goals and objectives . Discrimination at
the workplace will be avoided so that employees may feel safe to work and give their best in the
work they are provided with (Nuscheler, Engelen and Zahra, 2019).
CONCLUSION
From the above assignment it has been made clear that the business should be set up by
proper analysing the market. In addition to this, it is also concluded that for setting up the
business it is must to choose a prime location where the products of the company could be sold.
Further it is also concluded that the company should not only focus on product but also on the
values that it delivers to their customers.
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REFERENCES
Books and Journals
Jiang, Y. and Tornikoski, E. T., 2019. Perceived uncertainty and behavioral logic: Temporality
and unanticipated consequences in the new venture creation process. Journal of
Business Venturing. 34(1). pp.23-40.
Kenney, M. and Zysman, J., 2019. Unicorns, Cheshire cats, and the new dilemmas of
entrepreneurial finance. Venture Capital. 21(1). pp.35-50.
Kraus, S. and et. al., 2019. Digital entrepreneurship: a research agenda on new business models
for the twenty-first century. International Journal of Entrepreneurial Behavior &
Research. 25(2). pp.353-375.
Nuscheler, D., Engelen, A. and Zahra, S. A., 2019. The role of top management teams in
transforming technology-based new ventures' product introductions into growth.
Journal of Business Venturing. 34(1). pp.122-140.
Online
What is a Business Model? Types of Business Models. 2018. [Online]. Available Through:
<https://www.feedough.com/what-is-a-business-model/>
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