Any business plan or model may be susceptible to market forces and pressure that need to be dealt with critically in order to guarantee success. The proposed business model is critically appraised in this text as per the various included aspects…
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(Shane, 2003) Though I have a wide idea of the business market as far as importing and selling textile goods is concerned but I still have issues in grasping the finer details in this market. For example, I still have a hard time in distinguishing fabrics from South East Asian countries such as from Pakistan, India, Sri Lanka and Bangladesh. This may cause me to buy more expensive fabrics. The other key strength is my ability to regulate finances that I have sizable experience in by managing the finances for myself, my household and my uncle’s business at times. (Reynolds, 2007) I have a hard time grasping custom’s rules because I have paid little attention to them as yet but I would be able to deal with them given thorough study. My experience in working with foreign teams is also limited and I would have to sharpen up my cross cultural communication skills in order to make the business effort work. My business would be provided an opportunity to develop in limited competition as the market is rebounding although the recovery is slow and may take another half a decade to become viable. I am targeting a market niche where market competition may not be as stiff either as I am not entering the mainstream market but a segregated portion of the textile market. (Ebbena & Johnson, 2006) However, my business venture is in dire threat due to shipping delays for any given reason. My study of the supply and demand in these products tells me that internal disturbances in the producing countries cause delayed shipments although this is not very frequent. However, every delayed shipment means that my rate of return on the investment would suffer considerably. The business sector also suffers from slowed consumer spending as mentioned earlier and this issue serves as a retardant while promoting opportunity too. (Duening et al., 2009) Most of these factors are derived from entrepreneurial traits I have developed over time as well as from a thorough study of the subject market. The targeted audience are middle income groups who are learning to increase their spending capabilities following the recent global economic crunch. This is augmented by the fact that the market was derided of small investors. Since this business model is moving into the space that the small investors left behind so there is a good chance for its workability. (Livingston, 2007) Hence, it is highly reasonable to expect that this business will grow into its niche and will garner the right kind of consumer base. Moreover, the resources needed to make this business model work are all SMART (specific, measurable, attainable and time bound). This ensures that the business is built on concrete ideas and on as little speculation as possible. (Entrerprise UK, 2011) I have a primary contact within the South East Asian manufacturing belt who is capable of getting goods manufactured to specification and shipped accordingly. Moreover, a storage area near the main display shop can easily be arranged given that such storage areas exist near markets and malls. A display area would be required to sell the product and such a retail area can well easily be located in a central shopping district. It would pay to have the business in as competitive and large a shopping district as possible but that would cost too much money for a business that is already dealing with decent finance levels. Most businesses fail in the longer run for want of finance and hiring a place that costs too much in terms of rent will more or less push the business into a state of insecurity in terms of finance. Moreover, it would be unreasonable to expe
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174). The purpose of a business plan is flesh out the original business idea in substantial terms, that is, to concretely describe what the business aims to achieve and how it aims to achieve these goals. The business plan may be viewed as a blueprint of what the prospective business owner intends to do.
The entrepreneur will have an overall idea about what he/she intends to do with the business venture. Thus the main component of a business plan is the core business objectives. It guides the business in its day to day activities. “A Business Plan is the foundation, or rather a springboard, towards the establishment and growth of a new business, particularly in the later stages of growth.” (VCgate, 2010) The importance of a business plan also lies in the fact that it is the tool that helps to fetch the required capital for setting up the business.
This shift has also coincided with a rapidly growing urban economy of India. The services sector, more specifically the food and services retailing sector has seen explosive growth in India over the last one decade. Major international food and beverages brands like KFC, McDonalds and Pizza Hut have a strong presence in India and are experiencing extremely high growth rates.
A business that is going to be able to adequately service customers, maintain profit expectations, mitigate risk, and ensure alignment between strategy and accounting must conduct extensive planning. The business plan provides the initial template by which the organisation will structure its cost systems, management structure and produce activities that contribute to successful competitive rivalry for improved market share in the industry where the business delivers products or services.
Some of the major areas that lack in articles include the methodology that was used to obtain the information, conclusion and recommendations from the authors (Gerrish and Lacey, 2006). Relevance of the Study In this article, the study is relevant bearing in mind the number of people who are dying every day in United States.
The researchers conducted this study by enrolling 140 patients in a rehabilitation program spanning over the mentioned duration of time. The COPD patients that successfully completed the program got divided into two groups in a random manner, and one was later subjected to extra exercise sessions, while the other was only subject to follow-up evaluations and no exercise.
Climate change is a very significant and lasting change in statistical distribution of weather patterns over a long period of time which is usually sometimes millions of years. It may be change in the distribution of weather around the average conditions or the average weather conditions.
This results from defects in insulin secretion, insulin action or both, which translates to long-term damage and dysfunction of various organs of the body. Within the pancreas, the Islets of Langerhans are responsible for secretion of insulin, which acts to regulate of blood glucose levels.
An approach on qualitative interviewing called phenomenological analysis has been devised so as to prevent such biases, wherein there is a need to find out the phenomenon of a lived experience by allowing researchers to take part into another individual’s experience and interpret these experiences based on their own and within their consciousness.