Capstone Project Activity Report Week 5

Vaughn Language Translation Services, progress report week five Name Grantham University Date Introduction This update is meant to give insight on the progress made by the project by the fifth week. The update is imperative in that it not only provide insights on the advancement of the work but is also used as an action plan meant to pace up the writer. In the following paragraphs, the paper describes progress made by week five. Having defined the type of business regarding services, location modalities required for the business to function, at the fifth week; the project has taken shape and in this stage, the primary focus is on competition. Competitor analysis is a process of understanding and analyzing business which is in direct competition with Vaughn translation services (Varghese, 2011). The competition could be direct or indirect and at this stage, the completion can only be anticipated (Fleisher & Bensoussan, 2015). The primary process involved in competitor analysis is to identify strengths and weaknesses of competitors, and the opportunities and threats for the business (EMP Intelligence Service, 2004; Bensoussan, & Fleisher, 2013). According to (Weiss, 2002), knowing your key competitors and their strategies are two of the most important factors in gaining greater market share The plan dissects the market share that is held by the competition which whose biggest player is LITC services. Preliminary research indicates that LITC does not have a clearly defined market segment. Vaughn plans to counter the opposition through niche marketing and also give clients superior services. The there literature on competition was not easy to come by, mostly the research relied on the website and other publication as there is publication on the same. This situation delayed task for the week and ...