Establishing a Franchise of Body Shop International PLC - Coursework Example

Business Plan Table of Contents Introduction 6 Industry Analysis 6 Analysis of Business’s Position through PEST Analysis 7 Political Factors 7 Economical Factor 7 Social Factors 8 Technological Factors 8 Porter’s Five Forces Analysis 9 Threat of New Entrants 9 Bargaining Power of the Buyers 9 Bargaining Power of the Suppliers 10 Competitive Rivalry 10 Threat from Substitutes 10 Prospects and Trends 11 The State of the Economy 11 Market Trends and Opportunities 12 Competitors 12 Product Analysis 13 Product Identification 13 Product Benefit 13 Product Protection from Competitors 14 Factors providing Competitive Advantages to the Product 14 Marketing Research 15 SWOT Analysis 15 Strengths 15 Weaknesses 15 Opportunities 16 Threats 16 Analysis of Customers’ Questionnaires 16 Analysis of Market Share 17 Potential Market Growth 17 System for Monitoring Growth in Penetration 17 Anticipation of Demand Change 18 Marketing Strategy 18 Pricing 18 Targeted Customer Groups 19 Benefits from Increased Sales 19 Sales Tactics 19 Warranty Policies 20 Advertising Budgets 20 Product Improvements 20 Business Processes 21 Information Flow 21 Equipment Essential for Efficiency 21 Quality Control 21 Personnel 22 Short Curricula Vitae 22 Organisational Chart 22 Job Responsibilities 22 Training Needs 23 Finance 24 Budgeted Accounts 24 Cash Flow Forecast 24 Shortfall Financing 24 Break Even Position 25 Conclusion and Action Plan 25 References 27 Appendix 31 1. SWOT Analysis of the Body Shop Franchisee in China 31 2. Market Share of Different Cosmetic Products in China 31 3. Market Share of Different Skin Care Brands in China 31 4. Organisational Structure of the Proposed Franchisee of the Body Shop in China 32 5. Net Cash Balance of the Franchisee 32 6. Net Cash Balance of the Franchisee 33 Introduction The Body Shop International PLC is a cosmetic organisation that inaugurated on 1976. The organisation has it’s headquarter at Littlehampton, United Kingdom, but operates throughout the world. It is also notable that the organisation has been dealing in more than 1200 products. The organisation uses franchises for the effective distribution of its products. It distributes its products across 61 countries in the current day context. However, among the 61 countries of its business process, China is not included as a prospective base of consumers (Roy & Ghosh, 2008). It has started its business process in the UK in 1976, followed by Belgium in 1978. Eventually, the organisation penetrated several nations, which include the prominent and advanced nations of the globe such as Korea, Japan, Indonesia, New Zealand, the US, Saudi Arabia, Qatar, Greece, Sweden, Canada, France, Netherlands, Germany, Switzerland, Australia, Italy, Hong Kong, Spain, and Portugal, among several others (Purkayastha & Fernando, 2007). The organisation referred is highly active in conducting their social responsibilities. The first evidence of Corporate Social Responsibility (CSR) witnessed on 1986, when the organisation had undertaken initiatives to save Whales. Besides this, the organisation has been highly active in other CSR activities including policies on animal testing, community fair trade, and many more (The Body Shop International PLC, 2015). Contextually, the objective of the study is to propose and execute a business plan of establishing a franchise of Body Shop International PLC. Considering the vast market of China, and the big city Peking, the proposed business plan deemed successful. Moreover, the high quality products of the organisation would also attract the consumers of China (The Body Shop International PLC, 2015). Industry Analysis Analysis of Business’s Position through PEST Analysis Analysis of the proposed business’s position in the cosmetic industry of China is extremely decisive in order to implement the business process effectively. In this regard, PEST analysis is the most suitable industry analysis tool (Tian, 2007). The underneath subheads illustrates each of the four factors that are associated with PEST. Political Factors One of the decisive external factors that influence the overall operations of the cosmetic industry operating in China is the political factor that entailed with the same. In this regard, it is notable that Chinese government have laid strict laws for several industries including cosmetic. Moreover, these laws are mandatory for all the firms and organisations operating in the nation. However, in the last few years the Chinese government have been supportive in encouraging industrial growth and development. This encourages the proposed franchisee business of the Body Shop International PLC to position itself effectively in the cosmetic industry in China (Li, Yao & Yeung, 2003). Economical Factor The Chinese economy in the last few years significantly aligns with the needs of the proposed business plan. In this regard, it is notable that during the last few years, there has been potential urban growth within the country. Moreover, the increased export business has also contributed to the high national income. The nation has witnessed of high GDP growth in the last few years. More importantly, the nation has been highly effective in controlling the inflation rate. Thus, the proposed franchisee business of the Body Shop International PLC to can effectively develop its business within the cosmetic industry of China. The franchisee organisation would have no hurdle in attaining considerable revenue from China’s cosmetic market (Hua, 2013). Social Factors A major population of the nation is in between 15 years to 60 years. These segments of customers are the major or potential for availing cosmetic products. It is also worth mentioning that the average income of East China is more than that of West China. Considering Peking as an integral part of East China, the proposed franchisee organisation of the Body Shop International PLC has higher possibility of profit (Reuvid & Yong, 2006). Technological Factors China has witnessed some of the major technological development in the last few years. This is prominently notable as there is a huge progression in the field of internet and telecommunication within the nation. Moreover, internet and telecommunication technology is also a cheaper trend in the last few years. Besides these, the nation has developed airways, railways, and roadways that are even going to develop the business within the country. Moreover, the nation has also witnessed development of seaports in the last few years. This has encouraged import and export business within the country and fostered trade developments eventually. The technological development in the nation would considerably improve the efficiency and effectiveness of the organisation i.e. Body Shop International PLC to enhance a sustainable business in the new market (Reuvid & Yong, 2006). Porter’s Five Forces Analysis In order to effectively evaluate and analyse the cosmetic industry, it is important to conduct Porter’s five forces analysis. The underneath subheads illustrates and analyses each of the five forces related to cosmetic industry. Threat of New Entrants The cosmetic industry in China has high entry barrier. This is primarily because of the major investment at the initial stages. Moreover, it is also notable that the cosmetic market of China is highly matured. Each of the cosmetic organisations in the nation has segmented the market effectively with effective differentiation of the products. Thus, there is less scope and opportunity for the new entrants in the industry. Therefore, the threat from new entrants to the proposed franchisee business of The Body Shop PLC is considerably less (Reuvid & Yong, 2006). Bargaining Power of the Buyers There is a considerable bargaining power of the buyers in the cosmetic industry in China. This is because of the presence of significant number of competitors in the industry. The products, that have certain differentiation from its competitors, have lower bargaining power. However, the products those have less differentiation, possess higher buyer’s bargaining power. Although, in China there are several types of cosmetic products available in the market, but most of the products are similar to the brands of other organisations. Thus, the buyers have considerable bargaining power. This considerably discourages the proposed franchisee business of The Body Shop PLC in China (Tian, 2007). Bargaining Power of the Suppliers The bargaining power of the suppliers in the cosmetic industry in China is comparatively low. This is because most of the suppliers in the industry come from the developing nations. Moreover, these suppliers have limited partners limiting their transactions to a greater extent. Thus, there is less scope of monopoly within the market. Furthermore, the suppliers from the developing nations also have high switching cost. Thus, the franchisee of The Body Shop would have considerable power over its suppliers, which is of significant benefit from the organisational perspective (Reuvid & Yong, 2006). Competitive Rivalry The cosmetic industry in China has significant competitive rivalry owing to intensive amount of competitors trading in similar products. This is primarily because of the considerable number of organisations that have entered in the industry. Considering the high profit and growth of the industry, several organisations have entered into this industry. Moreover, the less product differentiation scope have also proliferated the intensity of competition. Hence, chances of losses could not be nullified to a greater extent for The Body Shop in the Chinese market (Reuvid & Yong, 2006). Threat from Substitutes There is also a considerable threat from the substitutes in the cosmetic industry in China. This is primarily because some of the organisations uses industrially produced chemicals as an ingredient for the products. These chemicals act as substitutes for the cosmetic products, created with the use of herbal ingredients. Chemicals, used as substitutes because these are comparatively cheaper and reduce the cost involved with production. Therefore, it is asserted that the franchisee of The Body Shop in China would have considerable threats from its substitutes, which might affect its business process (Reuvid & Yong, 2006). Prospects and Trends The cosmetic industry in China has a significant growth prospect and trend. The Chinese cosmetic consumers are shifting towards high quality products that have high price. This is primarily because of the increasing income of the customers within the nation. Estimations are evident that on annual average basis the Chinese people spend $20 (nearly 125 Chinese Yuan) on beauty and personal care products. Moreover, the current trend of cosmetic industry in China suggests of the increased brand consciousness and brand loyalty (Tian, 2007). The State of the Economy The current state of economy of China significantly encourages the proposed business plan of franchising the cosmetic organisation the Body Shop International PLC. In this regard, it is important to note that the GDP of China is second largest in the world that accounts for more than $11 trillion. The nation also has a GDP per capita of over $8,000. Moreover, the nation has been highly active in exporting and importing of goods and services. Despite the high GDP growth of the nation, the nation has been highly effective in controlling the inflation rate. This favouring economic state the nation significantly encourages the proposed business plan (Reuvid & Yong, 2006). Market Trends and Opportunities Considering the growing cosmetics market in China, the proposed organisation has a significant opportunity to earn maximum revenue and profit from the market. The franchise organisation also has the opportunity to utilise the differentiated and segmented product range of the brand. Moreover, considering the existing demand of the brand within the nation that has witnessed significant online purchase of the brand, the franchise organisation has considerable opportunity to gain leading market share (Tian, 2007). Competitors The proposed business organisation of franchising cosmetic products of the brand, the Body Shop International PLC has some of the major competitors in China. In this regard, the brand Watson is considered as the major competitor. This is largely because of the effective penetration of the organisation throughout the nation. Moreover, some more brands are equally considered as the competitors of the organisation. These include Lancome, Estee Lauder, Shiseido, Osiao, Chanel, and Magic Holding, among others (Reuvid & Yong, 2006). Product Analysis In the objective of effective implementation of the proposed business plan, it is also important to analyse the product effectively. The underneath subheads comprehensively illustrates the product. Product Identification The proposed business plan of franchising the brand, the Body Shop International PLC in Peking has the objective of distributing the products effectively throughout China. The organisation intends to distribute all the cosmetic products of the brand. These include body butters, body scrubs, lotions, and others. The organisation also distributes the makeup products of the brand including lipsticks, lip-gloss, eye shadow, and others. It also includes full skin care products, fragrances, hair care products, and many more (The Body Shop International PLC, 2015). Product Benefit The distribution of the products of the Body Shop brand through franchising would benefit the consumers to avail the product conveniently. Prior to the proposed franchise organisation, the product was available through online shopping, which require a considerable amount of time in the delivery process. However, the proposed franchising of the brand would provide an opportunity to the consumers to avail the products immediately. The product that is provided by the brand has several benefits that include the proper care to the entire body of the consumers. It effectively undertakes care to the consumers’ hair. Moreover, the product of the brand safe to use and do not have any side effects. The products are compatible to all types of skins and are suitable for developing the quality of skin. Moreover, the products are not tested on animals hence CSR is duly maintained by the companies (The Body Shop International PLC, 2011). Product Protection from Competitors The products of the brand, the Body Shop has certain differentiations from its competitors. In this regard, the brand has effectively surpassed and augmented a better position in the market over its competitors. Most of the products of the brand copyrighted and hence, it restricts duplication of the products. Moreover, the duplicity of the products would also cause legal penalty to the offender. Thus, the products of the brand are considerably protected from its competitors. Furthermore, the business process of franchising the brand is also protected through patient rights and other legal bindings. This is because franchising of the brand requires due authentication from the organisation i.e. the Body Shop International PLC (The Body Shop International PLC, 2015). Factors providing Competitive Advantages to the Product There are certain factors that provide competitive advantages to the product. These include brand image of the organisation that attracts customers. The superior quality of the products that are associated with the brand also acts as a differentiation factor to the same that subsequently, leads to the competitive advantages to the organisation. Moreover, the brand has also effectively protected its products, which provides sustainable competitive advantage to the organisation (The Body Shop International PLC, 2015). Marketing Research SWOT Analysis SWOT analysis is considered as one of the most effective tool for marketing research. SWOT analysis evaluates both internal and external factors that influence an organisation in terms of its performances. The underlying subheads evaluate each of the four factors of SWOT analysis in relevance to the Body Shop franchisee in China. Strengths One of the major strengths of the proposed Body Shop franchisee in China is the brand image of the organisation. This brand image of the organisation further proliferates through the support of the brand L’Oreal. Moreover, another significant strength of the brand is that it draws competitive advantages from the superior product quality for the consumers. Furthermore, the organisation also has been highly effective in segmenting the products in accordance to the different segments of customers. Besides these, another factor that significantly considered as one of the major strengths of the franchisee is the effective supplier’s network. This network leads to the availability of the products in all time and enhances the prominence of the same in the global domain (The Body Shop International PLC, 2015). Weaknesses Although franchising the brand i.e. The Body Shop in China has some of the significant strengths, there is also one major weakness. This is the less popularity of the brand and lower amount of advertisements that increases the prominence of the same throughout the world. Moreover, advertisement of the product in China is highly decisive considering its objective for penetrating the market (The Body Shop International PLC, 2015). Opportunities The Body Shop franchises in China have certain opportunities for growth and development. This is especially considering the vast market of China and the large population of the country that is likely to serve as a ready market. Moreover, the economy of the nation is growing, with increasing per capita income. Besides these, there is also a considerable increase in trend in the cosmetic product sale within the nation. These all factors encourage the proposed business plan of franchising The Body Shop in China (The Body Shop International PLC, 2015). Threats There is a significant threat from the competitors of The Body Shop. One of the major competitors is the Watson that has penetrated the market effectively. This provides significant threat to the franchisee organisation and going to affect the overall performances (The Body Shop International PLC, 2015; Refer appendix 1). Analysis of Customers’ Questionnaires From the study of the customers’ questionnaire, it is eminent that the majority of the individuals are using cosmetic products. This usage of cosmetic products is more prominent among the females. Moreover, it is also notable that cosmetic usage is more prominent among the young people. Besides this, the analysis also suggests that the people of china are also conscious regarding brands and quality products. This is because the Chinese people perceive that the consumption of poor quality of cosmetic products leads to several side effects. Thus, they are quite apprehensive about using higher quality of products as cosmetics to prevent chances of side effects. Thus, owing to the enhanced quality of products produced by the company it could be duly said the company is going to find a ready market it China (Roy & Ghosh, 2008). Analysis of Market Share In order to conduct marketing research effectively, it is important to study market share of several cosmetic products in China. In this regard, it is notable that the skin care products have the leading market share in China, which accounts for nearly 40% of the total cosmetic sales in the nation. This is followed by hair care products, oral care, colour cosmetics, bath and shower products, among several other products. Astonishingly, it is eminent that the market share of the cosmetic products like fragrance, deodorants, and sun care products are comparatively low in China (Fung Group, 2014; Refer Appendix 2). It is also decisive to determine the market share of the cosmetic organisations in China. In this regard, it is eminent that that the brand L’Oreal has the leading market share in skin care products in China. Olay of P&G, Aupress of Shiseido, Lancome of L’Oreal and Estee Lauder are the other prominent organisations within the sector (Statista, 2015; Refer Appendix 3). Potential Market Growth The cosmetics market in China reflects potential growth trend. This is primarily because of the increasing economic development of the nation. The nation has also witnessed considerable increase in the per capita income. Besides this, there is an increasing health care and beauty consciousness among the people of China (Roy & Ghosh, 2008). System for Monitoring Growth in Penetration The proposed business plan of developing a franchisee of The Body Shop brand requires an effective system for monitoring growth in penetration. In this regard, it is important that the franchisee must promote its business process. This will help in developing awareness among the Chinese people leading to effective progression in the strategies formulated for growth and penetration (Roy & Ghosh, 2008). Anticipation of Demand Change It is anticipated that the demand of cosmetic products would not alter in China in the following years. The demand of cosmetic products is rising gradually and there is little possibility that this demands will fall in near future. Although, there are possibilities of demand to fall in one or two years, but for long time it is deemed that, the demand of cosmetics would not be having a negative trend (Roy & Ghosh, 2008). Marketing Strategy Pricing For effective penetration of the products that are provided by The Body Shop brand, it is important that the organisation have effective pricing strategy. In this regard, it is important that the organisation must reasonably price its products. The organisation must set the price of the products marginally less than that of Watson. However, the high quality product at comparatively less price would attract the customers of China. This would effectively support the organisation in penetrating the cosmetic market of China. Moreover, it is also recommended that the organisation must increase the price of the products after gaining substantial market share. This would further enlarge the profit of the organisation and enhance its credibility of performances (Schnaars, 1998). Targeted Customer Groups It is important from the perspective of the franchisee to set targeted customers for the effective growth of the organisation. In this regard, the organisation must target the young aged consumers with more importance to women consumers. It is also important to target these customers in the primary stages because these customers are the major buyers of cosmetic products. Moreover, in the gradual stages, it is recommended that the franchisee should target on men grooming products, baby cosmetic product, and cosmetic products for aged consumers (Mercer, 1998). Benefits from Increased Sales There are some of the considerable benefits from the increased sales of the products. Increased sales support the franchisee to reach its goal and objectives in due time. It increases financial stability of the organisation through the high revenue collection and profit. The increased sales of the franchisee help in developing the retained earnings. This eventually contributes to the growth of the organisation, which subsequently supports in introducing other products of the brand gradually (Alon, 2003). Sales Tactics In order to reach the objectives and goal of the franchisee, it requires implementing some of the sales tactics and planning. In this regard, the franchisee must encourage some more retail outlets in the nation to sale the products supplied by the franchisee. This would lead to the effective penetration of the cosmetic market of China. This sales strategy is highly effective considering the infeasibility of establishing retail outlets in desired location by the proprietor of the franchisee (Tungate, 2011). Warranty Policies The franchisee has adapted the marketing strategy of providing to the cosmetic products. The warranty is regarding the side effects of the products, wherein the franchisee supports the consumers during any side effects of the product. Moreover, the franchisee also provides assurance to the consumers regarding the safe consumption of the products (Alon, 2003). Advertising Budgets The franchisee of The Body Shop in China requires allocating a considerable amount for advertising the products in China. In this regard, the franchisee requires allocating at least 300 million Chinese Yuan for effective promotion of the products. It is recommended that the franchisee must use several promotional tools including television, social media networks, banners, hoardings, magazines and many more (Tungate, 2011). Product Improvements In order to maintain sustainable growth of the franchisee, it should also consider product development as an integral part of marketing strategy. Through gradual business process and operations in the nation, the franchisee would be able to recognise the requirements and demands of consumers. This would support in the effective product development and improvement. Correspondingly, it would also support the organisation in attaining competitive advantages (Mercer, 1998). Business Processes Information Flow For effective business process of The Body Shop in China, it requires effective flow of information. In this regard, the information should flow from all directions to increase the efficiency and effectiveness of the franchisee. However, it is notable that typically information flows from The Body Shop organisation headquarter in Littlehampton, England to the franchisee in China, which is followed by the retail outlets in the nation (Betton, 2007). Equipment Essential for Efficiency For improving the quality and efficiency of the products of The Body Shop, has complete support from its brand. The brand would provide equipments and other supports in order to reduce the cost of the franchisee. This would eventually support in the effective penetration of Chinese cosmetic market (Draheim, 2010). Quality Control The proposed franchisee of The Body Shop in China has a significant support from its brand in order to maintain and control quality. In this regard, the franchisee has recruited one quality control manager, whose sole objective is to control the quality of the products. The franchisee also has support from the brand through providing necessary equipments for quality control (Betton, 2007). Personnel Short Curricula Vitae In order to increase the effectiveness and efficiency of the franchisee organisation, it should recruit effective and efficient employees. The initial phase of recruitment is to undertake the curricula vitae (CV) from all the candidates. Based on the job role of every designations of the organisation, the candidates are recruited accordingly to their qualifications. However, it is notable that most of the candidates possess graduation degree. Management qualifications are required for managers and engineering graduates are required for all other technical aspects (Rao, 2001). Organisational Chart The proposed franchisee organisation requires certain organisational structure in order to attain effectiveness and efficiency in the business process. The franchisee should be headed by a general manager followed by immediate subordinates of designations of Finance Manager, Marketing Manager, Engineering Manager and HR Manager. The Finance Manager and Marketing Manager should have subordinate employees under them. The underneath graphical representation depicts the organisational structure of the franchisee (Meier, 2006; Refer Appendix 4). Job Responsibilities There are certain job responsibilities of the different personnel in the organisation. The General Manager has the responsibility over every aspects of the organisation. General Manager also supervises the Finance Manager, Marketing Manager, Engineering Manager, and HR Manager. The Finance Manager has all the responsibilities regarding the financial aspects of the organisation. Similarly, Marketing Manager and HR Manager have responsibilities regarding every aspect of marketing and HR tasks. Moreover, the Engineering Manager has responsibilities regarding every technical aspects of the organisation (McKeever, 2014). Training Needs In order to improve the effectiveness and efficiency of the franchise organisation, it requires ensuring effective training programme to its employees. In this regard, some of the trainers would be hired from the other franchisee of the brand from different nations (Pinson, 2008). Finance Budgeted Accounts For developing effective financial strength of the franchisee organisation The Body Shop in China, it is important to adapt a strategy for effective allocation of financial resources of the organisation. In this regard, it is notable that in the initial stages, the organisation requires to allocate a considerable amount in promotional activities. Moreover, the organisation would require the allocation of considerable finance as initial fixed costs for setting up the franchisee in the new market. However, the high costs allocation is only for the first year. In the subsequent years, budget allocation regarding such aspect is of negligible amount. Nevertheless, in the subsequent years the organisation requires to allocate a considerable amount in variable cost (Biezen, 2003; Kenley, 2003). Cash Flow Forecast It is expected that the franchisee organisation would have significant cash inflow from the 2nd year of its business operations. However, it is estimated that in the first year there is a considerable cash outflow. This is largely because of the high fixed cost and the high promotional cost. This eventually, leads to a negative cash balance in the 1st year, which is likely to grow from 2nd year onwards and ensure that the organisation would have relatively higher cost (Case, 1995; Refer Appendix 5 & 6). Shortfall Financing In order to suffice the considerable financial requirements of the franchisee organisation in the 1st year, the organisation must consider external sources for financing its shortfall. In this regard, bank loan is the most preferred option available to the organisation. This is because the organisation requires a vast amount, which is available through bank loan. Moreover, the franchisee of The Body Shop also have the opportunity to mitigate its shortfall financing through identifying several investors and convince them to invest in the organisation (Richardson, 2002). Break Even Position One of the major objectives of any business plan is the quick attainment of the break-even position. In the current context, it is estimated that the organisation would reach breakeven position in the 2nd year of its business process. The attainment of the break-even position in the 2nd year is largely because of the significant cash inflow from the 2nd year that could be projected. The quick attainment of the breakeven point also supports The Body Shop franchisee in order to reach its goal and objectives of attaining the reputation of leading cosmetic brand in China must be effectively maintaining its Break Even Position (BEP) for ensuring long term growth (Awofeso, 2012). Conclusion and Action Plan In order to implement the business plan effectively, the organisation requires possessing a defined action plan. The organisation should check all the aspects of the organisation repeatedly. In this regard, the marketing tool of Management by Objectives is considered as the most suitable. The proposed plan would minutely evaluate every objectives of the organisation. This effectively supports that the organisation in controlling the performances and ensuring stable growth. Moreover, in order to ensure effective control regarding every aspects of The Body Shop franchisee, the organisation also requires the incorporation of Informational Technology (IT) and other technological supports. It also requires the implementation of effective leadership within the organisation that would support effective control and coordination of the business process. The current study would provide opportunity the organisation to attain its goal and objectives. It also increases the possibility of sustainable development of the organisation. Furthermore, the current study would also provide opportunity to other organisations to grow effectively in the current competitive market. References Alon, I., 2003. Chinese Economic Transition and International Marketing Strategy. Greenwood Publishing Group. Awofeso, N., 2012. Organisational Capacity Building in Health Systems. New York: Routledge. Betton, C. E., 2007. Global Regulatory Issues for the Cosmetics Industry. New York: William Andrew. Biezen, I. V., 2003. Financing Political Parties and Election Campaigns: Guidelines. Germany: Council of Europe. Case, J., 1995. Open-book Management: The Coming Business Revolution. New York: HarperBusiness. Draheim, D., 2010. Business Process Technology: A Unified View on Business Processes, Workflows and Enterprise Applications. New York: Springer Science & Business Media. Fung Group, 2014. China’s Cosmetics Market. Fung Business Intelligence Centre, pp. 1-67. Hua, W., 2013. Buying Beauty: Cosmetic Surgery in China. Hong Kong: Hong Kong University Press. Kenley, R., 2003. Financing Construction: Cash Flows and Cash Farming. New York: Routledge. Li, Y., Yao, L. & Yeung, K. W., 2003. The China and Hong Kong Denim Industry. England: Elsevier. McKeever, N., 2014. How to Write a Business Plan. The United States: Nolo. Meier, M., 2006. Determinants of Control Strategies and Organisational Structures. The United Kingdom: GRIN Verlag. Mercer, D., 1998. Marketing Strategy: The Challenge of the External Environment. The United Kingdom: SAGE. Pinson, L., 2008. Anatomy of a Business Plan: The Step-by-step Guide to Building Your Business and Securing Your Companys Future. The United States: Aka Associates. Purkayastha, D. & Fernando, R., 2007. The Body Shop: Social Responsibility or Sustained Greenwashing? ICFAI Hyderabad, pp. 1-24. Rao, D. B., 2001. Organisational Structure Of Science, Volume 3. New Delhi: Discovery Publishing House. Reuvid, J. & Yong, L., 2006. Doing Business with China. London: GMB Publishing Ltd. Richardson, B. J., 2002. Environmental Regulation Through Financial Organisations: Comparative Perspectives on the Industrialised Nations. The Hague: Kluwer Law International. Roy, S. & Ghosh, L., 2008. “Business as Unusual”: A Case Study on the Body Shop. Journal of Applied Case Research, pp. 1-19. Schnaars, S. P., 1998. Marketing Strategy. The United States: Simon and Schuster. Statista, 2015. Market share of leading skin care brands in China between 2011 and 2012. Cosmetics and Personal Care. [Online] Available at: http://www.statista.com/statistics/296592/china-leading-skin-care-brands-market-share/ [Accessed April 11, 2015]. The Body Shop International PLC, 2011. Striving to be a Force for Good. Values Report, pp. 1-61. The Body Shop International PLC, 2015. Home. Welcome Guest. [Online] Available at: http://www.thebodyshop.in/ [Accessed April 11, 2015]. Tian, X., 2007. Managing International Business in China. The United Kingdom: Cambridge University Press. Tungate, M., 2011. Branded Beauty: How Marketing Changed the Way We Look. London: Kogan Page Publishers. Appendix 1. SWOT Analysis of the Body Shop Franchisee in China Figure 1: SWOT Analysis of the Body Shop Franchisee in China 2. Market Share of Different Cosmetic Products in China Source: (Fung Group, 2014) 3. Market Share of Different Skin Care Brands in China Source: (Statista, 2015) 4. Organisational Structure of the Proposed Franchisee of the Body Shop in China Figure 2: Organisational Structure of the Proposed Franchisee of the Body Shop in China 5. Net Cash Balance of the Franchisee Figure 3: Net Cash Balance of the Franchisee 6. Net Cash Balance of the Franchisee Figure 4: Net Cash Balance of the Franchisee Read More