Report Talks About A Business Opportunity †Myassignmenthelp.Com

Question: Explain On Report Talks About A Business Opportunity? Answer: Introducation This report talks about a business opportunity which is a bakery shop and caf which is named as Delicious Bakery. This was an idea which was always there and therefore it further gives a business plan that how this particular bakery wants to establish itself in the market, it shows the emergency of the organization and the way it propose to construct its business set up. `This will also show its internal and external environmental forces which will give an impact to the organization, therefore it gives a SWOT analysis, Pastel analyses and Porters 5 forces, to show its strategy and plan. It also describes the business practices which is done to show the organizational performance of the company lastly it discusses the functions of the business and how well will it perform. The Delicious Bakery is a cake shop which has also introduced different types of patties and snacks like items. Its also offers a broad range of coffee products and has delicious collection of bakery, which includes birthday, anniversary cakes as well as pastries. This company is owned by two owners who are equal partners. One of them has wide experience in marketing, sales and management, and the other has experience in administration and finance, and is also the chief chef of Delicious Bakery. The owners have always been interested in opening their own company and not only a particular shop but also a chain of shops which will open across the company. They have the expectation to raise their own capital up till $110,000, and further they have to borrow $100,000 as a ten year loan. In order to increase the capital the main strategy is to open this store in a number of main locations of the country, which is centralized, and popular (Postma, Zwart, 2015). There are several forces th at create the main base of the organization; it includes both the internal and external forces of a business. Hence to open a business it is important to analyze various risks that the company might have to face and will be facing all kinds of negatives and positives of the organization, in order to know how it will progress in the future and what threats it might face are (Valan?ien? Jegelevi?i?t?, 2014). SWOT Strength- There is a chance of introducing new innovative ideas and new types of recipe, as it is a bakery company, therefore new ideas and techniques can be introduced to make the cake, new products can be launched to attract the customers and creative ideas can be used(Gamlath, 2014). Weakness- The cost can be a problem as it is going to be a new startup company, the distributers might be indecisive about giving them the materials in a large quantity as they might not able trust them, new companies always face the trust issues and as a start up the brand name will be weak comparing to the other companies (Brooks, Heffner Henderson, 2014). Opportunities- There can be several opportunities as a new growing start up, they can take ideas from the company which is already present in the market, the opportunity to learn and find out the new ventures are always there for the company. Threats- The main threats will be the rivals i.e. the other bakery shops which are already present in the market and the pressure will be double on them. Portals five Forces Analyses Threat of New Entry- As it is a new company there will always be a threat from the other existing companies which are already established, there will not be much knowledge and experience, economically it will be down, and will need technological protection. Supplier Power- Of course there will be a loss at number of suppliers as it is a new company and it will not trust them initially, they have to persuade the suppliers and give them unique service in order to gain their trust, and hence has to cut down in prices(Utami Lantu, 2014). Buyer Power- the buyer will always have the upper hand, as it is a startup business therefore the customers will be at the gaining end, because at any moment they can shift to other side as they will have many other options open, therefore the company has to cut down on their price. Threat of Substitution- There should be a count of number of competitors as in bakery shops present in the market. There should be difference in quality as the buyers will not go to the new shop if they do not find anything different and special in the new shop, otherwise the treat of replacement is always there (Bertels, Koen Elsum, 2015). There will be several risks in a new startup company, the company will have to go through several other problems, like knowing the need of the market, giving them good products and maintaining the quality of food and giving good service both to the buyers and the supplier so that they keep coming back to them. There is a lot which comes in line when it comes to open a business and the investment to that is a lot, therefore there should be a proper knowledge of what should be done and which step to be taken in order to (Buckingham Coffman, 2014). There should be a distributing channel and should have a proper idea in order to move forward with a proper agenda. There will be competitors in the market who will try to bring down the new startup companies so there should be a proper strategy chalked in order to hold a position in the market (Johnson, 2017). The approach should be positive, there should be a thorough knowledge of the product that the company is selling and also and good research of the market. The research of a market should be the first step which will act as a helping hand for the owners and will help to take risk and take decisions according to that, without a proper navigation of the road no destination can be fixed, so there should be a proper time invested too know the market criteria and that will help the to achieve their respective goals (Paunescu, 2013). Then comes the instability of the market which is the most serious part and is technically is not in their control. Most of the ventures will depend upon the productivity and even to some extend on the luck of that company. Of course a part of it depends on the quality of product and their market strategy, Augustbut there always will be an uncertainty in these fields, therefore it is importance to have a financial protection (Edison, Wang Abrahamsson, 2016). T he owners should have strong mind and should know what they want to clearly define the program. They should have a unity as there are two owners and they should have secular role to play. The work should not be mixed up and they should do their homework accordingly to keep up in their individual area. There should be a perfect coordination between the two as that will, help the people who are working under them (Ho, 2014). There are several functions in order to keep a check on the productivity and executive quality that is happening in the market. When a person starts a company then they are very excited and that them the strength to overcome all the hurdles, they put everything in order to make the structure of the company and give their whole mind and soul to the business aspect and how to develop it and make it better. A start company has the liberty to do whatever they want and make the company rules and strategy according to themselves which an established company cannot and they have to take advice from a lot of people. Startups are based on bonds and chemistry of the owners and people who work in there and hence they have a positive attitude towards their work and their atmosphere is positive, they have reliable workers as well (Salar,Salar, 2014). There is less bureaucracy in the large company which is present in the big companies, there might be some strong rules, but that can be made flexibl e as it is a new company. Conclusion The new organizations often not succeed to provide the needs of the customer and the market needs. The bond of a customer relationship is very important and they have to have a strong bond. The bond with the customers and the suppliers comes with time; however the service and the product should be good. In order to create a mark in the market there should be a benchmark set and thats how the needs will be visible. In order to improve there should be a continuous survey of the own company and where is it going wrong References: Bertels, H. M., Koen, P. A., Elsum, I. (2015). 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