Busniess Assignment Example, Making Your Own Busniess

Topics: Marketing, Strategic management, Management Pages: 10 (3075 words) Published: August 23, 2013
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 time, but initial Mentors who have worked for a 3 month period or more, will help teach them the work ethic of what is required Opportunities:
* Market growth due to unique advertising
* Social and lifestyle change. ( our products are developed and created to make the consumer feel new and updated) * Local events
* Competitive price pressure ( them reassuring their pricing to steal away consumers) * Higher input prices
* New rules or regulations
* High interest rates
Classification of a business:
The classification of Gebron’s Sportswear are outlined and illustrated amongst three categories. Size of a business
The size of a business determines the magnitude of the actual business, and the Gebron industries is classified as a Medium business enterprise Location:
The location of the business can either be local, national or global. However This Business is secret into the National aspect. Industry
The industry of the business is categorized within the tertiary stage as it sells goods to the society.

Choice of Legal Structure:
In reconciling a choice of Legal structure, after a careful consideration of the size of the business (Medium), ownership/Control (two owners, I and my brother) and Finance requirements, the recommended and precise choice was to be a partnership. Vision and Goals

Within our business, when setting goals it is important to make sure they are specific, measurable, achievable/realistic and timely. Goals which are incooperated include: * To gain an extra 10% in sales over the next financial year * To ensure members of staff are motivated and inspired within 1 month of joining * Efficiency within the business to increase productivity. Employees to improve their closing ratio from original per cent to an extra 15% There is only one specific Vision which our business enquires to see in the future. It follows to be: ‘Our business is developing into a well-known customised sportswear facility, and it...
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