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Analyse the scenario given and produce a report detailing your response to the below changes in business environment - Essay Example

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Introduction The business environment prevailing in UK shows a bright future for local business operators. This can be based on the fact that United Kingdom is listed in the top 10 economies of the world and is amongst top 10 recipients of direct foreign investment from the World…
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Analyse the scenario given and produce a report detailing your response to the below changes in business environment
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Download file to see previous pages Keeping all these facts in mind the business environment on a macro level looks prosperous for the young entrepreneurs. The location of the business is at Seaford road which is a populous suburb of east Sussex with a population of over 23000 people and is home to educational institutions. Hence the key USP aligns with the local community aswell. Condition of The Business: The current cash flows of the StudentPizza Ltd are lower than what was estimated initially. The business has yet to return a turnover which was expected even after 5 months. Although the key point which they had identified while opening the business was quite valid and relevant that Students love pizza and keeping this in mind opening a restaurant with the target market as students was quite relevant. Working on their USP by attracting students and making it exclusive for students they have been able to retain students as their loyalist but have only managed to attract few customers from the locality. Also they are running out of investment and capital to run the business as the business has not returned profits as expected for 5 months. SWOT ANALYSIS, RECOMMENDATIONS AND STRATEGIES A detailed analysis of the business and its environment, strategies pertaining to them along with recommendations for executing these strategies is mentioned in detail in this section. Strategy Assessment: In order to asses, whether a particular organizational strategy is suitable for an organization it is important to conduct a SWOT analysis. The SWOT analysis points out the strengths, weaknesses, opportunities and threats of the organization in question. To assess how effective an organizational strategy would be, it is very important to conduct a SWOT analysis. SWOT analysis is an overall strategic planning methodology. It is used to assess a strategy from the point of view of its strengths, weaknesses, opportunities and threats. It involves the business environment and the business objective of a particular project and how internal and external factors will help achieve those objectives. The technique was developed by Albert Humphrey. He led a convention during his stay at Stanford University in the 1960s and the 1970s. He incorporated data from some Fortune500 companies. A SWOT analysis usually begins with clearly defined state and objectives. Strengths: In strengths it is checked which attributes of the company will help in achieving the desired objectives. The strengths of the company are many. It targets the student population for junk food and they tend to be the most willing consumers for the same. The initial investment in the idea isn’t much. The timings of the outlet are very lucrative and so is the location of the chain a very ideal one. Weaknesses: In weaknesses it is checked which attributes of the company will be harmful in achieving the objectives. The outlet faces stiff competition from other more established outlets. The sales continue to suffer and the promotional strategy is weak at best. Opportunities: What opportunities will work in favor of the desired objectives? There are various opportunities that can capitalized on by the firm. Firstly, it needs to come up with a more aggressive promotional strategy and reach out to all students. Capitalize on social media, come up with flyers, posters, ad games and various other ways to promote and attract customers. Secondly, negotiation with the suppliers to bring ...Download file to see next pagesRead More
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