7. Business Planning in Global Context
I need to answer the points listed on the attached portfolio guideline document. Furthermore u will find an attachment of our business idea.
We are creating a small smoothie stand close to three very busy, main train station in London, UK. At each stand there are 2 employees. The main idea is to have a simple smoothie stand with 3 or 4 simple choices and not more. Prices will be in whole numbers in order to be quick. Initial capital is 150000 pounds. We do not need to invest a lot in marketing,; max 5000 pounds per year. This is just some information of our business idea.
Please try to make it easy understandable and not too complicated.
Please use only (if possible) online sources (journals, websites,…) which are reliable and easy accessible for me.
Use Harvard referencing (Author, Date)
Here’s the setup for our portfolio:
a. Mission (what we aim for, end achievement)
b. Vision (Predict a forecast for outcome, Ambitions ? 5 years forecast)
c. Objective (Summary, Strategies for Objective)
Now we have to use the framework of Mullins (2016) to complete our portfolio. The setup to do this, I have laid out below:
2. Market Attractiveness
a. Look at the area where our potential costumer will reside
b. Overall size and Growth
c. Is there new legislation?
d. What is the rate of technological change?
e. Environmental Audit ? important! It is evaluations intended to identify environmental compliance and management system implementation gaps. Relate this to our topic
3. Industry Attractiveness
a. Where are our sellers? Competitors and rivals
b. What Business are we in?
c. How competitive is the industry? Is it still growing?
d. Are there any barriers?
e. Are other sectors substitutes?
f. How strong is our bargaining power re suppliers & consumers?
g. Who are our competitors?
h. What is our industry?
4. Sustainable Advantage
a. What is the concept of sustainability? What are the strengths of these sustainable advantages? Quote Laszlo’s view on sustainability: http://www.youtube.com/watch?v=bvMcCv28xtQ&feature=related
b. How strong is our sustainability?
c. What is the key to our sustainability? Is it a legal patent or better process or access to distribution channels?
d. How strong is our financial sustainability to set up the business and keep it going during the initial period?
e. Key factors which will protect the business on market ENTRY and SUSTAINS survival vs. the competitive environment (refer to macro forces) and ?�other forces and factors’
f. What are the ethical and social impacts on our business?
5. Target Segment benefits and attractiveness
a. ?�Small companies have narrow targets but big companies have multi targets
b. Clear on the problem/gap in the market, is there the need to resolve this?
c. What research have we obtained from costumer’s viewpoint? (If any)
d. What makes our idea better than others (USP)? Important!
e. What is the profile of the target niche?
f. What behavioral factors are there that we can build the attractiveness of the product on?
g. Are there other segmentation variables? What about profiling/consumer journey?
h. Is there potential to growth & add value to the offering?
6. Ability to execute CSF’s (Critical Success factor)