Busniess Assignment Example, Making Your Own Busniess
Business studies Assignment – Gebron’s Sportswear 1. Situational analysis:
Gebron’s Sportswear is a medium enterprise which sells goods of Sportswear to athletes of any sport.
Influences in establishing a SME:
In establishing a Small/Medium enterprise, it is vitally important to acknowledge all influences which lead into a phase of a developing business. Firstly the owner must assess the characteristics of establishing a business. Types of these characteristics include * High cost associated with its set up * Difficulty with funding * Slow growth in sales * Difficulty in attraction customers and employees
Each characteristic must be analysed to a throughout extent to ensure an effective and efficient establishment stage. The establishment options which Gebron Sportswear must consider into action are either to set up a business starting from scratch, buying an existing business or, buying an successful franchise. However, after taking significant time to ensure the recommended choice of establishment was precise, Gebron Sportswear had decided to start from scratch which involved many advantages. These encompass: * Unique and fresh on competitive advantage * Creative freedom and control of internal influences * Unlimited liability
SWOT analysis
The Strengths of a business are the assets and resources that provide it with a competitive advantage or benefit.
Strengths:
* Assets and resources provide competitive advantage and benefits * Staff are well trained and loyal to their work ethics * Location is National, amongst all retail stores and shopping centres, also obtains own outlets * Gains a solid Net profit every year and limits liabilities * Business has a solid foundation of goals personally( employee) and business goals which are motivated and inspired to be achieved
Weaknesses:
* A weak Brand name * No online shopping availability * Skill shortages as many employees are first
Gebron’s Sportswear is a medium enterprise which sells goods of Sportswear to athletes of any sport.
Influences in establishing a SME:
In establishing a Small/Medium enterprise, it is vitally important to acknowledge all influences which lead into a phase of a developing business. Firstly the owner must assess the characteristics of establishing a business. Types of these characteristics include * High cost associated with its set up * Difficulty with funding * Slow growth in sales * Difficulty in attraction customers and employees
Each characteristic must be analysed to a throughout extent to ensure an effective and efficient establishment stage. The establishment options which Gebron Sportswear must consider into action are either to set up a business starting from scratch, buying an existing business or, buying an successful franchise. However, after taking significant time to ensure the recommended choice of establishment was precise, Gebron Sportswear had decided to start from scratch which involved many advantages. These encompass: * Unique and fresh on competitive advantage * Creative freedom and control of internal influences * Unlimited liability
SWOT analysis
The Strengths of a business are the assets and resources that provide it with a competitive advantage or benefit.
Strengths:
* Assets and resources provide competitive advantage and benefits * Staff are well trained and loyal to their work ethics * Location is National, amongst all retail stores and shopping centres, also obtains own outlets * Gains a solid Net profit every year and limits liabilities * Business has a solid foundation of goals personally( employee) and business goals which are motivated and inspired to be achieved
Weaknesses:
* A weak Brand name * No online shopping availability * Skill shortages as many employees are first