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Jul edward gundersen heriot-watt university h00303199

Jul Edward Gundersen Heriot-Watt university H00303199

Enterprise and its business environment essay

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Name: Jul Edward Gundersen

Student ID number: H00303199

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Table of contents Page nr.

1. Executive Summary……………………………..…………………………………p. 3

2. Company Overview ……………………………………………………….…….….p. 3 – 5

2.1 Mission and Vision Statements …………………………………..……………..p. 3 – 4

2.2 Legal Structure…………………………….….….….….….….….….…………p. 4 – 5

3. Product and Service ……………………………………………………..………..p. 5

3.1 Features…………………….……………………………………………..……..p. 5

3.2 Benefits …………………………………………………….……………..…….p. 5

4. Market and Industry Analysis………………………………………………..……p. 5 – 6

4.1 Industry Analysis…………………………………………..………………..…p. 5 – 6

4.2 Market size and Trends………………………………….…………………..…p. 6

4.3 Competition analysis………………………………………………….………..…p. 6

4.4 Segmentation…………………………………………………………….………..…p. 6

5. Marketing……………………………………….…………………………………p. 6 – 7

5.1 SWOT analysis…………………………………………………….……………..…p. 7

6. Operations………….……………………….….….….….….….….…….…….….p. 7 – 8

6.1 Scope of operations……………….….….….….….….….………….………..…p. 7

6.2 The day to day operations………………………….….….….….….….………p. 7 – 8

6.3 The Supply chain…………………………………..………………………..…..…p. 8

7. Organizational Structure and HR…………….……………………………….….p. 8 – 9

8. Corporate Social Responsibility………………………..……………………….….p. 9

9. Financial Reflection ……….……….………….……….…….……….…………….….p. 9

10. Conclusion……………….….………………….……………..……………..………….….p. 10

11. List of References……………….…….……..……………………………………….….p. 11 – 15

12. List of appendices …………………………………………………………………p. 16 – 24

Appendix 1 – Consumer Survey……….….….….….….….….….…………………p. 16 – 17

Appendix 2 – Porter’s five forces…………………………………..………………p. 18

Appendix 3 – The four P’s ……………………………………….……………….p. 19

Appendix 4- Competition Analysis……………………………………………..…p. 19

Appendix 5 – Market Survey and Market Segmentation….………………………p. 20 – 21

Appendix 6 – SWOT analysis …………………………………………………………p. 22

Appendix 7 – The Supply Chain…………………….….………….…….………..p. 22

Appendix 8- The Organizational Structure……………………….…………………p. 23

Appendix 9- The Financial Reflection…..…….…….…….…………………………p. 23 – 14

1. [bookmark: _Toc505585685]EXECUTIVE SUMMARY

In this report you will find a business report for an application called “Need a hand? LTD”. This application is designed to be a tool that will help the majority of people with small jobs or small problems. it will connect people with different skills and needs in order to solve their problem. It´s objective is to make day-to-day life more comfortable for individuals. The app is accessible by everyone with a smart phone, tablet or a computer. “Need a hand? LTD” is suitable by everyone who is in need of any kind of help.

This business plan discuses “Need A Hand? Ltd”´s mission and vision statement including what the goals and objectives are for the company’s future. It states the features and benefits of “Need A Hand? Ltd” and how these can be used to efficiently develop a successful market strategy. The report will also discuss the market and industry analysis, this will help the company in finding the right segments and how to approach them with success. The right marketing strategy is essential for all companies who want success, this is why “Need A Hand? Ltd” will use the market mix will be used as a tool for further development of the marketing strategy, the company will also use a SWOT-analysis to get a more developed view of disadvantages and advantages. Furthermore, there will be presented a scope of operations, including the product lifer circle, ongoing operations, the service process and the supply chain. The business report will end with a financial reflection and a summery.

2. [bookmark: _Toc505585686]COMPANY OVERVIEW

2.1 Mission and vision statement

Business organisations are essentially made of inputs and outputs. The drive to a business organisation is consumption, and this is what makes businesses go around and work efficiently (Worthington and Brighton, 2009). “Need a hand? Ltd”´s mission is to create easy access to individuals with different skill sets available thru a quick and easy process using an application. Users of this application can order “small jobs” from individuals with the skills required at a more reasonable price and more easy access than traditional ways. “Need a hand? Ltd”´s vision is to be available in all major city’s worldwide, this way we can provide a service that makes everyday life easier and less stressful. To secure the community within the app users will be vetted before permission to use the app which will reduce the risk of illegal use and criminals entering the platform.

2.2 Objectives

Objectives for “Need a hand? LTD” is to operate in major city’s and urban community’s, this way we can provide our services to a large concentration to the population. We will do this more effectively and cheaper than traditional ways.

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2.3 Legal structure

Legal structure within a company will have a huge effect on the financial and legal realities of its day-to-day administration and maintenance. It will affect everything from the records you will need to store to the types and how much taxes you will need to pay. Crucially it will determine how much personal liability you will have within the company.

The legal structure for “Need a hand? LTD” will be an LTD/limited company for several reasons. Registering as a LTD makes the process of borrowing and raising capital easier, this will be necessary as the company will need capital to expand at the rate we want (Eisenberg, 2006).

An advantage of a limited company is the wall between your money and the company, this means you can control your financial risk. LTD companies also have a more positive tax regime, they pay company tax which is less than what you would find in a sole trader business. The downside of choosing a LTD company is the heavier demands for administration and regalities, the LTD would also need annual accounts and financial reports on a public domain.

3. [bookmark: _Toc505585687]PRODUCT AND/OR SERVICE

3.1 features

“Need a hand? LTD” is an app that is designed to help the majority of the population by connecting people with different skills and advantages. The platform is intended to be used by people who need some extra help at home or away, with easy or more difficult tasks. The advantages for “Need a hand? LTD” is that it holds all the services in one platform and can offer you the services cheaper and more efficiently. Examples of some of the services “Need a hand? LTD” can offer is tutoring, building, washing, housekeeping, shopping, dog walking, carpentry, guiding and much more. The point of the app is to connect people who need help from professionals/civilians’ people who want to make some extra income. The services you can find on “Need a hand? LTD” Can also be located through other companies, but the advantage for “Need a hand? LTD” Can be shown in the value proposition.

3.2 Benefits

The value proposition for the customers is:

· No need to order and deal with a big company

· Prices lesser than normal fees

· Some services include fixed prices

· Free services from time to time

· Easy access to professional help

The value proposition for the job takers:

· Additional source of income

· Flexible work schedule

· Easy payment procedure

· Those who find jobs that are similar to their hobbies can earn from it

[bookmark: _Toc505585688]

4. MARKET AND INDUSTRY ANALYSIS

A industry analysis requires the business to take an objective view of the underlying forces, attractiveness and success factors that determines the factors of the industry. Understanding the business operating environment helps the business formulate a good strategy. (Porter, M. E. 1980)

4.1 industry analysis

It is crucial for “Need a hand? LTD” to make an analysis of the industry before entering the market. According to (Dobbs 2014, p. 32) it is “Porter’s description of “five forces” that shape the structure of all industries and in large part establish the rules of competition and the root causes of profitability within an industry”. “Need a hand? LTD” will analyse the industry by using porters five forces (threat of new entry, suppliers power, threat of substitution, buyer power and competitive rivalry) to create a useful analysis from “Need a hand? LTD” s point of view. (see appendix 1)

4.2 market size and trends

The market for “Need a hand? LTD” is a currently a market that has minimal exploration.

What we found what that there is people looking for different services that can be offered by “Need a hand? LTD”. We found these on websites that mostly connect individuals selling goods. But finding these advertisements is difficult because there is no way to directly get to them. As the population grows and more and more people choose to live in an suburban environment we predict the demand for services that are offered by “Need a hand? LTD” will only grow.

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4.3 competition analysis

For “Need a hand? LTD” to be successful it is important to undergo a competitor analysis (Ghosal, wersney, 1991). There is currently no other app on the market who focuses only on small jobs and/or services that can be found on “Need a hand? LTD”. There is some websites like gumtree.uk that offers “small jobs” and other bigger companies that focus on getting individuals a part-time or full-time job. When demand for services at home increase it is likely that these companies will respond by creating a platform for these services. (see appendix 2)

4.4 segmentation

Segmentation is used to divide the market into fewer interest groups to make it easier to meet the right need for the right costumer (Budeva & Mullen, 2014). Segmentation is divided in four different categories (Psychographic, behavioural, demographic, geographic)

“Need a hand? LTD” will divide each group into different classes. (see appendix 3)

[bookmark: _Toc505585689]5. MARKETING

Marketing is a huge factor of a successful business, the greater the marketing the better the returns. It usually takes a long time and lot of effort to develop a successful marketing strategy (Leventhal, R.C., 2005.)

5.1 4 Ps

New business usually depends on having a good marketing strategy in order to survive. “marketing mix” is a mixture of different factors used in marketing, they are product, place, promotion and price. These are used to determine the best way to market and price the product/service. (see appendix 4)

5.2 SWOT analysis

SWOT analysis is a tool used in marketing to help develop a strategic marketing plan (Menga et al. 2015.) the tool is used to identify the external and internal advantages and disadvantages. “Need A Hand? Ltd” will use the SWOT-Analysis to identify its external and internal advantages and disadvantages (see Appendix 5). Since “Need A Hand? Ltd” already did a competition analysis we can use that information when analyzing the external factors.

5.3 PESTLE

The PESTEL framework is a “mnemonic used in strategic management to group macro-environment factors to help strategists look for sources of general opportunity and risks” (Witcher & Chau 2010, p.91). The PESTEL framework consists of political, economic, social, technological, environmental and legal frameworks that will be used to make an analysis of “Need A Hand Ltd” (Issa, Chang and Issa, 2010). (see appendix 6)

5.4 Positioning

Positioning is the act of designing, establishing the company’s offer and image and communicating the products’ key distinctive benefits in the market so that it occupies a distinct and valued place in the minds of the target customers (Kotler Et al, 1996).

Market positioning sets the competitive positioning for the product and/or service and creates a detailed market mix. Since “Need A Hand Ltd” don´t have any direct competitors, “Need A Hand Ltd” used the closest ones found in the competitor analysis. However it was found that “Need A Hand Ltd” should position itself cheaper and with higher quality service. (see appendix 7)

[bookmark: _Toc505585690]OPERATIONS

Introduction what operations is using references. You may then include:

Scope of operations

Product Life Cycle

Ongoing operations

Product/Service processes

Supply chain – Lean or agile?

[bookmark: _Toc505585691]ORGANISATIONAL STRUCTURE & HR

Introduction paragraph must be an academically referenced rationale, you may include:

Organisational Chart

Recruitment Strategy

Management Team

Main job roles

[bookmark: _Toc505585692]CORPORATE SOCIAL RESPONSIBILITY

An academically referenced paragraph on what CSR is, its importance and how it is used in your business.

[bookmark: _Toc505585693]FINANCIAL REFLECTION

A brief consideration of how much capital you expect is needed to start up the business and where you will get it from. This course does not teach anything financial and so this section holds little weight in the marking. It does however have to be feasible.

[bookmark: _Toc505585694]LIST OF REFERENCES

Worthington and Britton, 2009. TRENGER FULL REFERENACE

Legal structure

Eisenberg, M. (2006). the structure of the corporation: a legal analysis. Washington D.C: Little, Brown and Company.

https://books.google.co.uk/books?hl=no&lr=&id=-Lpp_0heJVwC&oi=fnd&pg=PR7&dq=legal+structure+of+a+company&ots=NWAKcjjWmI&sig=GlOIMGnid5AHCpyEjkQtrw6zJgs&redir_esc=y#v=onepage&q&f=false

five forces

Dobbs, M, E. (2014) ‘Guidelines for applying Porter’s five forces framework: a set of industry analysis templates’. Competitiveness Review [online] 24 (1), pp.32-33. Available at

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Segmentation:

Budeva, D. and Mullen, M. (2014) ‘International market segmentation’. European Journal of Marketing [online] 48 (7/8), pp.1209-1238. Available at

Market and industry analysis

Porter, M. E. Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Free Press, 1980. (Republished with a new introduction, 1998.)

Competition analysis

Ghoshal, S. and Wersney, D. (1991) ‘Organizing competitor analyis systems’. Strategic Management Journal [online] 12 (1), pp.17-31. Available at

Markerting intro

Leventhal, R.C., 2005. The importance of marketing. Strategic Direction, 21(6).

Swot analysis

Menga, E., Dan, A., Jing, L. and Xiaodong, L. (2015) ‘Ranking alternative strategies by SWOT analysis in the framework of the axiomatic fuzzy set theory and the ER approach’. Journal of Intelligent & Fuzzy Systems [online] 28 (4), pp.1775-1784. Available at http://web.b.ebscohost.com/ehost/detail/detail?vid=0&sid=72c8f7bf-a33b-4b08-8a9f-ebe05028b9ce%40sessionmgr101&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=101513180&db=buh

Pestle

Witcher, BJ & Chau, VS 2010, Strategic Management Principles and Practice, Cengage Learning EMEA, United Kingdom.

Issa, D., Chang, A. and Issa, D. (2010). Sustainable Business Strategies and PESTEL Framework. GSTF INTERNATIONAL JOURNAL ON COMPUTING, [online] 1(1). Available at: http://file:///Users/edwardgundersen/Downloads/903-37-2513-1-10-20180108.pdf [Accessed 21 Feb. 1999].

Positioning

Kotler, P. (1996). Marketing Management: Analysis, Planning, Implementation, and Control (8th ed.). New Delhi: Prentice-Hall of India Private Limited, 291-313.

4. Use at least 10 academic journal articles: no MINDTOOLS, Wiki, Business Balls, Answers.com allowed.

5. Follow the Harvard Referencing style

6. LoR is not part of word count

7. Citations MUST CORRELATE with LoR

[bookmark: _Toc505585695]LIST OF APPENDICES

You can put all of you models such as Porter’s 5 forces, or SWOT analysis here in the Appendix. It does not count towards the word count, and you can refer to them in your main body.

Appendix 1 – porter´s five forces

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Appendix 2 – Competition analysis

Business name

What they sell

Where they sell

price

Size of the business

Weakness comperison

Strengths comperison

Gumtree.uk

Self-advertisements made by individuals to sell goods or services to other individuals

They use a platform online to connect people with different demands and needs

Usually a one-time fee for advertising on their cites

medium

They focus more on making people sell goods and not services, while we do the opposite

Well known business in the UK. Already set ut a business with cash flow and can easily make the same product as us.

Indeed.co.uk

Advertisements to full-time or part-time jobs. They connects business with workers. They also have some of the same services we plan to sell.

They advertise the vacant positions on theire website online.

Usually a one time fee from the business/individual posting on the cite

large

They focus more on Part-time and full-time jobs than “small jobs”

They have a large part of the market

Appendix 3 – segmentation

Geographic

demographic

behavioral

psychographic

· User living in urban areas, mostly in Europa and Amerika

· Smartphone, tablet or computer user

· 18 – 65 age based on experience and need for these services

· Average and lower social economic class

· Customers who like/need to get extra help

· Individuals who need the services at a more reasonable price

· Customers who have a busy life style

· Customers who like to get help instead of doing It them self

Appendix 4 – market mix

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Appendix 5 – SWOT analysis

Strengths – internal

Weaknesses – internal

· Uses modern tech and follows growing trends

· New market segment

· Free application

· Customer benefits:

· Easy access to labor

· Cheaper than traditional solutions

· A new company with a new product/service

· Other established companies than can use our product/service

· Untested market

Opportunities – external

Threats – external

· No other application that offer the same service

· Marketing opportunities online

· Get more users that can expand the range of services we can provide

· Easy for competitors to make a similar product

· Price war with larger companies

· To modern for some customers

· Not making the advertisement legit enough

Appendix 6 – PESTEL

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Appendix 7 – Positioning

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