Report on Vegan Fit-Bit: PESTLE Analysis, Legal Framework, and Sector

This report provides a detailed analysis of Vegan Fit-Bit, a new plant-based food startup operating in the UK market. It includes a comprehensive PESTLE analysis to assess the political, economic, social, technological, legal, and environmental factors impacting the business. The report also examines the relevant legal frameworks, such as GDPR and consumer rights, that the company must adhere to, highlighting their strengths and weaknesses. Furthermore, it identifies the food industry sector in which Vegan Fit-Bit operates, emphasizing the growing demand for vegan products and the opportunities for success in the UK market. The report concludes by underscoring the importance of these factors for the company's competitive advantage and overall performance.

Structure of Business

Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Q1) PESTLE analysis.................................................................................................................1
Q2) Range of legal framework....................................................................................................3
Q3) Sector the new plant based food start-ups operate...............................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Start-ups play a significant role in enhancing today’s world as it provides assistance in
attaining growth in corporate world. In this context, veganism is considering as an effective
practice that nonparticipation of use animal products. As, it is related with the way of living that
includes products which exclude all the form of animal exploitation and cruelty whether it can
have related with food, clothes and any other purpose. Basically, it is referring to the plan based
food that comes from plan origins only. It includes fruits, beans, vegetables, cereals, grains and
many more (Swartz and Laestadius, 2019). This idea for business is effective as it provides
potential profitable ventures for entrepreneurs to operate their new business in market place.
Current report is based on the new business idea i.e. Vegan Fit-Bit, is a new start-up that operate
their business in UK market with the aim of generating larger profitability. The main focus of
this business is to provide plant based food to people as per their needs and wants. Project is also
going to discussed about PESTLE analyse for determine the impact over the business. Along
with this, various legal framework is also there that used by entrepreneur to start their own
business at competitive market. At last, HR policies and their importance to the modern at
workplace. All these can be contributing in improving the chances of attaining success in new
market.
TASK
Q1) PESTLE analysis
It is an important tool that used to analyse the external environment where company is
operating. As it assists in determining the impacts and influences of all the external factors over
the business activities. With the assistance of this, company can easily minimize the negative
impact and at the same time also maximise the positive aspects. In this context, Vegan Fit-Bit is
a new venture that wants to operate their business in UK market with the purpose of attaining
competitive success. The main focus of this business is to serve plant- based food products to
people in UK. Basically, it is a new business idea through which entrepreneur can generate huge
profits and return in order to established their competitive image (Mergenthaler and et. Al.,
2020). In addition to this, company also use analyse business environment by using PESTLE
analysis as a strategic tool that provide detail information about the new market. All these factors
can be understood by following points:
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 Political factor: It is an important factor that affect the entire business activities.
Basically, political area has a significant influence over the regulation of business and at
the same time also affect the spending power of consumers. In context to food industry,
there are various elements including government stability of UK, better awareness of the
needs to have a healthy population, policies of agricultural activities. All these are affect
greatly on economic activities in food industry. In UK, government also encourage
healthy eating habits and better food production that also encourage option of eating
organically products food. Thus, it is important for Vegan Fit- Bit to follow all the
government policies that may assist in improving the overall performance of company in
new market.
 Economical factor: This type of factor is also important as it also influence entire pattern
of growth of company in market place. Mainly, it includes incidents and situations that
also affect the food industry (Braunsberger and Flamm, 2019). As, it includes, consumer
spending and disposable income, inflation, taxation, interest rate, monetary issues,
unemployment and many more. In UK, customers spending in the plant based food is
increased from last year. This can be assist to Vegan Fit-Bit to expand their business in
UK and at the same time also may increase their overall sales at market place.
 Social factor: At the time of undertaking business in UK market, it is a significant factor
that directly impact over the sales and profitability level of company at market place.
Thus, it is important for Vegan Fit-Bit analyse customer’s attitude and behaviour before
provide them vegan food. In UK, most of people are health conscious as also prefer to eat
healthy food. This will provide benefits to company in increasing their profitability level
by inviting more and more customers towards its organic products. As, consumers are
highly focus on quality and safety organic products and also they purchase the same. It is
also related with to the enhance awareness of the value of a healthy diet and positive
perception of food products in this respect. It may increase the possibilities of generating
larger profitability level at market place (Ingenbleek and Zhao, 2019).
 Technological factor: In a globalised world, technology play a crucial role as it provides
assistance to company in attaining competitive advantage. In context to organic and plant
based food industry, technology help in producing quality of food items that assist them
in capturing customer’s attention towards its offerings. For attaining competitive edge
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into new marker, Vegan Fit-Bit take advantage of internet and also offer online shopping
for organic and plant based food to its targets customers in order to attain their positive
experience towards the company. With the help of innovative feature, Vegan Fit-Bit offer
their catalogue of products to its customers that also assist in providing them option to
compare prices and search for particular products. It became more effective for company
in capturing customer attention towards its offerings through which company can
generate larger profitability as compare to its rivals.
 Legal factor: It is very close with governmental policy and also affect the organizational
activities at market place. Thus, it is important for company to follow all the legal
practices at the time operating their business in new market (Sexton, Garnett and
Lorimer, 2019). It provides assistance in increasing the chances of establishing their
competitive edge from its competitors. In addition to this, specify rules of production,
proper processing, and all the vital rules company needs to follow in producing plant
based organic food items to its target customers.
 Environmental factor: In order to successfully operating their business into new market,
Vegan Fit-Bit also focus on implementing sustainable environment that may assist in
improving the positive brand image at market place. In addition to this, organic
agriculture is also a set of practice in which company reduce the use of external inputs.
This kind of initiative may assist in improving performance of company at market place
as large number of customers get easily attracted towards its plant-based food products.
Thus, analysis of macro environmental provide assistance and feed all the necessary aspects
of planning within business at the time of expanding into new market. Mainly, it also enables the
development of the framework that may assist business in understanding towards organic food
industry for customers who are involved in it. With the help of this framework, company can
have encouraged to venture into the organic food industry in more successful way.
Q2) Range of legal framework
 The legal framework plays a significant role within the business whose start their new
venture at market place with the hope of generating larger profitability. Mainly, it also
allows business to ensure that products and services are protected and not operating
illegally. In order to operate their business successfully, company is responsible for
implementing as well as following a legal framework that may assist in maximizing
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overall performance of company at market place (Wurgaft, 2019). As it also provides
guidance to company in which starting a new business is effective. In relation to this,
there are some effective legal framework along with its strengths and weaknesses that
company can use in operating their new business in UK:
 GDPR (General Data Protection Regulation) Framework: This type of legal
framework is also play a significant role in business organization as it is regarded as
ground-breaking legislation. As, it is also appropriate measure required to aid
government in order to retaining control of data security. Mainly, it also holds a detailed
account of data protection policy requirement that focus on securing data storage and also
keep all the necessary data confidential. This is the reason that Vegan Fit-Bit follow this
type of legal framework in order to collect, store and using their customer’s personal
data. One of the main advantage of using this type of legal framework is that is provide
benefit to company and its customers as well. It also makes sure that maximising
cybersecurity is important for company protect consumer’s rights. If Vegan Fit-Bit,
follow this legal framework than customers can easily trust the company and also going
to be more willing to share the data (Angus and Westbrook, 2019). On the other side, the
major drawback of this framework is that it took more time and money which is not
possible by small companies to pay. Due to this, organization cannot be able secure
general data of consumers.
 Consumer Right Framework: It is one of the important legal framework that implement
by new venture with the aim of successfully operating their operational activities in new
market place. In this, consumer protection act is a welfare legislation that enacted by
government of UK in order to empower the customers against arbitrary practices of
vendors. One of the main aim of this act is to provide rights and benefits to consumers in
regards to the good faith and at the same time also provide them quality products and
services as per their needs and wants. In relation to this, there are some rights of
consumers under this act can be understood by following points:
o To be successfully informed of the quality, potency, standard and price of goods
and services to consumers.
o Be assured of proper access to different goods and services at competitive price.
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o To seek compensation against unfair or restrictive trade practices that protect the
customer’s rights.
In addition to this, it is also beneficial for consumer’s welfare as the main objective for
consumer protection by providing them better services (Baur, 2019). As there is some strength of
using this framework for Vegan Fit-Bit in which customers are protected against the marketing
of goods and services. Mainly, this type of act has proposed provision for product liability. In
case product is under defect then the company must to repay the consumer. With the assistance
of this, company can easily retain their consumers for long run and at the same time also make
them satisfied towards its services.
Q3) Sector the new plant based food start-ups operate
In context to competitive market, various industries or sectors are there in which different
companies are operate their commercial activities with the aim of attaining success. In relation to
this, Vegan Fit-Bit is a start-up operate in food industry in UK. The main purpose of this
business is to serve plant based food service in market place. Vegan plant based food business is
one of the famous sector in which, a company can easily attain growth and competitive benefits.
For this, providing quality services to its customers as per their needs is very important because
it provide opportunity to maximising its revenue to stay competitive in market place. As per
current scenario, plant based food are famous and booming business that provide various benefits
to company and economy also by providing various job opportunities to local people (Market,
2018). As the significant number of vegan start-us launching new and innovative exciting
products in the global market in order to meet increasing customers demand for innovation and
new product items. Basically, plant based products and its growth has brought noticeable market
around the world. In UK, people are becoming more health conscious as they also prefer to by
vegan food items. This become a biggest opportunity for Vegan Fit-Bit company to successfully
operate their business at market place. In this, UK provide opportunity to company in improving
their demand in food products because UK is now the global leader for vegan food launces. The
main reason behind operating business in this sector is that it driven by concern about the
environment and animal welfare. By starting business in this industry has provide assistance in
developing more products catering for a vegan lifestyle. This provide a rapid growth to Vegan
Fit-Bit as it embracing the opportunities in catering for a vegan lifestyle that directly contributes
in inviting more and more vegan customers towards its services. By this, Vegan Fit-Bit can
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increase their market share and chances of attaining competitive growth by serving quality
products in market according vegan customers demand. Furthermore, this sector also has chances
of growth because as per modern scenario, companies are more focus towards both ethical and
environment friendly. This is the reason launching a new business in plant based food industry is
more effective as it provides assistance in inviting health conscious customers who prefer to
consume healthy diet.
Apart from this, there are another sector are also there related with retail, hospitality and
many more that provide huge opportunities to small and start-ups business to attain growth. It
also helps in making strong economic condition by generating revenue (Weinfurter, 2017).
Mainly, retail industry is also a major and booming sector in which business are easily generate
more profits by providing best quality products to its customers as per their needs and wants. In
context to economic, it also creates job opportunities to local people through which people can
improve their living standard. In addition to this, retail sales are the important economic indicator
as consumers are spending drives much that contributes in increasing economic growth of the
nation i.e. UK.
By analysing the growth in UK market place, vegan plant based food industry is famous and
booming industry in which start-ups can easily grow their business with the aim of establishing
their brand image. One of the main benefit of operating in this sector is that it provides areas for
operating as number of people are consume vegan food items for their health purpose. Increasing
number of vegan people in UK is provide huge opportunity to Vegan Fit-Bit in improvising their
profitability level by serving organic and plant based food to its customers according to their
needs and wants. With the help of this, company can capture larger marker share from its
competitors and also established it positive brand image.
HR policies and its importance to the modern workplace: Today’s working environment
is dynamic in nature as proper management of workers are significant as it supports business in
improving their performance level. At the time of operating their new business, it is important
for an entrepreneur to develop a strong workforce as it provide opportunity to company in
sustaining in new market for longer period of time. In relation to this, manager of business
organization plays a significant role in managing their workforce by providing them appropriate
guidance and direction (O’Riordan, Fotopoulou and Stephens, 2017). As HR policies are also
providing an appropriate framework in which company focus in betterment of employees at
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working area. Therefore, proper implementation of strong HR policies is beneficial for company
in meeting all the requirements for diversity, ethics and training modern employees to improve
their performance at workplace. This can be beneficial for workers to execute their task activities
in an effective manner. Vegan Fit-Bit is a plant based start-up business that operate their
commercial activities in UK market with the aim of attaining competitive advantage from its
competitors.
 Health and Safety policies: It is important for Vegan Fit Bit company to implement all
the health and safety policies so that any kind of emergency situation can be easily tackle.
At the time of executing their task activities, employees require safe and healthy
workplace so that work related injuries can be easily managed. For this, manager of
company follows different regulations under the occupational health and safety act so that
each and every employee are protected from any kind of injury and hazards.
 Equality and diversity: In business organisation diverse workers are there who perform
their activities in a team. This is the reason that manager of company is responsible for
promoting equality and diversity at working area so that each and every employee
perform their best at workplace. Along with this, company also provide equal
opportunities to all workers in which they give their best efforts for attaining their targets.
With the assistance of this, company can improve their overall performance and also
attain their growth.
Reflection
I am grateful to take opportunity to execute this report as it provides huge information
and analysis that assist me in developing my learning experience. By undertaking this report, I
have developed my skills and knowledge about how a start-up launch their business at market
place. This will assist me in improving my learning towards different analysis and legal
framework. It provides me support in executing the organizational activities in success full
manner. Furthermore, this module is also assist me in improvising my academic skills on the
basis of I can take better decisions. With the assistance of this module, I have improved my
research skills through which I can easily gather information towards the market and business
environment as well.
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CONCLUSION
From the above mentioned report it can be concluded that, launching a new business in
market provide huge opportunities in which company can easily enhance their brand image. In
relation to this, Vegan Fit Bit is a new start-up operate in UK market with the aim of capturing
customer’s attention towards its services. As, political and legal situation of UK is stable in
nature that provide assistance in successfully operating. Basically, UK people are health
conscious and also prefer to take healthy diet for stay healthy. Increasing number of vegan
people in UK is beneficial for company to improve their overall performance. Apart from this,
company also responsible for following all the legal framework that provide assistance in
ethically operating their business. This will contribute in sustaining in market for longer period
of time without any kind of legal issues and obstacles. In order to improve their performance in
UK market place, Vegan Fit Bit also implement HR policies to manage their workforce so that
they can easily handle entire activities and attain success in market place.
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REFERENCES
Books and journals
Swartz, H. and Laestadius, L., 2019. 4 Beyond halos and technofixes. Plant-Based Diets for
Succulence and Sustainability, p.49.
Mergenthaler, M. and et. Al., 2020. Prospective Cultivation Area of Field Peas Used in Animal
Meat Substitutes in the EU. International Journal on Food System Dynamics, 11(5), pp.441-450.
Braunsberger, K. and Flamm, R.O., 2019. The Case of the Ethical Vegan: Motivations Matter
When Researching Dietary and Lifestyle Choices 1. Journal of Managerial Issues, 31(3), pp.228-
222.
Ingenbleek, P. and Zhao, Y., 2019. The Vegetarian Butcher: on its way to becoming the world’s
biggest ‘meat’producer?. International Food and Agribusiness Management Review, 22(1030-
2019-628), pp.295-308.
Sexton, A.E., Garnett, T. and Lorimer, J., 2019. Framing the future of food: The contested
promises of alternative proteins. Environment and Planning E: Nature and Space, 2(1), pp.47-72.
Wurgaft, B.A., 2019. Meat planet: Artificial flesh and the future of food (Vol. 69). Univ of
California Press.
Angus, A. and Westbrook, G., 2019. Top 10 Global Consumer Trends. Euromonitor
International: London, UK.
Baur, G., 2019. THE END OF FACTORY FARMING. Why We Love and Exploit Animals:
Bridging Insights from Academia and Advocacy.
Market, M.A., 2018. From “Yucky” to “Yummy”. Environmental, Health, and Business
Opportunities in the New Meat Alternatives Market, p.1.
Weinfurter, D.J., 2017. Second Stage Entrepreneurship: Ten Proven Strategies for Driving
Aggressive Growth. Springer.
O’Riordan, K., Fotopoulou, A. and Stephens, N., 2017. The first bite: Imaginaries, promotional
publics and the laboratory grown burger. Public understanding of science, 26(2), pp.148-163.
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