5 pages/≈1375 words
Business & Marketing
Microeconomic concepts (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..
(March 08, 2012)
SAFE British Company is a company in the United Kingdom dealing manufacture and sale of soap and detergents. The products are designed to provide management with a fast, easy and cheap method of monitoring consumer hand washing. As people know effective hand washing is the best preventive measure present to fight many communicable diseases. Washing our hands improperly contributes many deaths in the United Kingdom annually through the transmission of communicable diseases in day cares, hotels and hospitals (Howell, 2010, p.67). In addition, proper washing of hands in various environments can reduce the transmission of communicable diseases a great deal. Our company is the initial manufacturer and responds to the problem of preventing communicable diseases effectively. It offers indisputable evidence that washing hands properly combats many communicable diseases. After consumers washing their hands with the SAFE soap, a unique dye within the soap is retained in their hands. Additionally, the dye fades to the natural color of the skin within a spawn of five minutes. This gives supervisors adequate time to proof that the employees have washed their hands. Currently in the market, there lacks another product which can offer such an increased assurance level on sanitation compliance. The product is not only safe but also meets all the regulatory requirements of soap (Cahn, 2003, p.86).
The company has a diverse market for the product. This market includes hospitals and restaurants. Furthermore, day cares ensure a good market for the target market. This is because they contain a lot of interest in lowering the transmission of communicable diseases among kids. Additionally, day care centers are required by their customers to have a very hygienic environment.
The initial day care market will constitute medium to the big day care institutions. These day care organizations will be harboring thirty kids and above. Additionally, there are many day care institutions in the United Kingdom which will ensure attractive chances for our products (Howell, 2010, p.93). These day care institutions are appealing because they are managed efficiently. Also, they are very keen on issues of hygiene and health. They are also very successful and are located nationwide. In these institutions, our target will be decision making managers with the ability to execute the utilization of our products within these locations (Sutton, 1991, p.49).
The company is proud to have a strong team of founders and board members with a lot of experience in business management. For example, the Chief Executive of the company has over thirty years experience in the soap industry. He has adequate networking relationships in order to increase market penetration of our products. The company plans to outsource the production of its soap from a present manufacturer of soap. The initial capital will be utilized to test, give approval, produce and market the company. Additionally, working capital will be provided for the initial year. In order to enhance grow...
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