Introduction:
For this research task the following information will be given and how I have analysed the trip to Orange Farm when we met Veronica xxx as well as analysing the job experience I have done. This will be done by doing environmental scanning on both the Orange Farm trip as and environmental scan on the work experience I have done. I will also be doing a business strategy for the business I worked while doing the work experience as and a business strategy for the business Veronica wants to start at Orange Farm. There will also be a social responsibility I both analyse both businesses. By doing this you will be able to see and understand different aspects in the business environment.
Environmental Scan for Orange Farm Business:
Now what Veronica wants to do is make flower arrangements and sell them to people in Orange Farm. Before starting the business she will have to see if her product is viable to do this she will have to make samples and see if people will buy her product and if she will be able to make a profit on her product. Then she will have to see if there are any potential competitors that she might have to go up against. When we spoke to her on the day she said that no one else was doing this in Orange Farm which makes the situation better for her because there will be no competition and if people want to get those products they will get it from her because she is the only person selling that product. Giving more reason for her to start the business. Once she has looked at that she will then have to see the potential she has for the business to be successful and the potential market she will have, and if there will be enough customers for her business to be sustainable. Then she will have to look and see what resources she has and how she is going to use them to her own advantage so she is going to run her business at home therefor she won’t be paying rent for using someone else’s land. Because it’s such a small business she will have no staff there for she won’t have to pay wages or salaries. She will have to look at how she is going to get her product and what she said is that she goes to the flower market to get her product therefor she will have to work out the price for what she is selling not only based on what she pays for it but the cost of transport and the time taken to make the product.
One way for her to analyse and see if her business will work out is to do a SWOT analysis where you compare your Strengths, Weaknesses, Opportunities and Threats.
Strengths:
-Entrepreneur therefor she will be exited and motivated to make it work
-Sole owners therefor she makes her own decisions
-Gets all the profit
-She knows where to get her products at a good price
-First person doing this in the area Weaknesses:
-Can’t grow flowers in her own garden
-Has to travel far to get the flowers
-Not many people will know about the business when it first starts
Opportunities:
-Can buy her own piece of land with fertile soil to grow her own flowers
-There’s no competition
-New business that people will be excited about Threats:
-No threats or competition
By looking at this SWOT analysis we are able to see that there are more positive than negative about starting her business.
If Veronica is able to make her business a success she will then have to continue environmental scanning where she is constantly analysing her business so it stays successful.
Environmental Scan for ‘on the job’ Business:
The work experience I have done was working for a sole owner who owns a Castros blue bottle liquor store. Now because the business is already is already up and running there is no need to look at aspects before starting the business but rather focusing on continuous environmental scanning so the business can stay successful and I will be using different methods to scan each environment. To do this I will be looking at the Micro, Market and Macro environments of the business to cover all aspects of the business. So I am going to start with the Micro environment and to scan this environment I am going to use a SWOT analysis, which stands for Strengths, Weaknesses, Opportunities and Threats.