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Business & Marketing
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Microeconomics concepts business venture of your choice (Essay Sample)

You are setting up a business venture of your choice, which will be based in the UK. Please follow the questions to complete the essay. With reference to an organisation relevant to your programme of study, explain which market structure is most applicable to its business activities. Provide examples of the internal and external environmental factors impacting upon on its operations. There are some points need to be involve among the essay. 1. The part of external factors should be more detail (30%). 2. Public sector or private sector. 3. Explain the market structure that your organisation is operating within. 4. How do they compete? 5. How do the competitors behave? 6. Who are the main competitors? 7. Research market share Mintel/ Keguate. ps. This assignment should cover the importance of the key microeconomic concepts within service sectors and relationship between key macroeconomic variables in an economy. source..
MICROECONOMIC CONCEPTS Name: Course: Professor Name: (March 08, 2012) MICROECONOMIC CONCEPTS Introduction Wesley Real Estate Company, WREC is a company in London. The company`s objective is to provide real estate services to the many mid-earning English living in North West of London. The company is a complete real estate service offering both Title Company and mortgage to its customers. The company will be a limited liability partnership which is registered by the government for tax purposes. The founders of the company contain adequate experience in this industry (Ferry, 1992, p.67). Hence, they contain a lot of experience as far as real estate is concerned. There are plans within the company to be leveraged by a limited number of loans coupled with private investment. The company hopes to commence its operations very soon. Additionally, the main customers of the company will be residents of London with average earnings who are in dire need for housing and other real estate services. This is because the company comprehends the market requirements which can attract many customers more than other competitors in the market (Overstreet, 2010, p.90). The company provides comprehensive services in real estate, title services and mortgage to its diverse customers. Additionally, the company has a formidable sponsor who will have the senior post as the main seller of the condos, retirement houses and new homes. Also, the company will give a complete range of services to enhance buying and selling of real estate. Conclusively, the services will include the following. Searching database at home by the clients; Loan preapproval and mortgage consultancy; Planning, moving consulting, quotes and other activities; Information within the community; Getting comprehensive analysis of the market for potential sellers; Title transfer; Preparation of property; and Appraising. The real estate industry has been growing hastily within the past twenty years. The mean age of the working population in England is at 48%. Additionally, it is growing each year at the rate of 3.2% yearly. However, in some parts of London, for example, the North West, the rate of growth is approximately 9%. Also, the percentage is anticipated to grow as many young people get jobs and realize the need for real estate in the next few years (Potter, 2008, p.148). The expenses for start-up needed are modest. This includes costs and the cash required to support operations till the company breaks even. In most cases, the liabilities of the company will emanate from private investors plus management investment. On the contrary, the company has borrowed from the Royal Bank of Scotland. As a result, the principal will be payable in two years. A long term loan from Santander Bank will be payable in ten years. The expectations o the company is to attain a profit in the first year. There is also very least expectations with problems in cash flow. Additionally, there exists a conservative belief within the company that within the initial three years, the average monthly profitability per segment will be enough. It is the expectation of the company that a single monthly sale will make the company break even. The internal factors are well considered in this business (Potter, 2008, p.40). This includes the distributors, employees, suppliers, shareholders, supply of labor and partners. All these factors make a massive contribution towards the success of the company. The company has employed competent workers with all the necessary skills to perform. In addition, the terms and conditions for mortgage and other services are extremely customer friendly. For example, the mortgage will be payable basing on the number of months the customer wishes to complete the payment. However, it should not bypass the set period of payment. Demog...
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