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Name: Unit 7 - Exam - ReportDISCLAIMER: If you’re going to copy and paste my work, I suggest you get a
paraphrasing tool to re-word so that you don’t get caught with plagiarism
and also shift the paragraph so it doesn’t look identical to mine and also do
not share this specific work with another classmate. Since this one is an
exam, I suggest you do the exam the night before the actual exam, what I
mean is do it at home and save it to a USB drive and then bring the USB drive
to the exam the next day, just don’t get caught by the examiner. Good luck
Introduction
I will provide all the key information about a (BRAND BUSINESS) whether it is best to set up
a new (BRAND FACILITY) or buy an existing (BRAND FACILITY). The things that I will look into
this report is that looking at the latest data and also the trends, the external environment
and also the financial environment and the two options are:
Option 1: Set up a new (BRAND FACILITY)
Option 2: Buy an existing (BRAND FACILITY)
Key factors and risks
In (YEAR), the UK had over (NUMBER OF BRAND FACILITY) (BRAND FACILITY) with a turnover
of over (£?). This was a (PERCENTAGE) growth compared to the previous year, this is a
strength within the market and indicates that there is still a demand for (BRAND) in today’s
market. Another reason why the market is growing is because by (YEAR), the market
forecast is for a (PERCENTAGE) annual growth, with revenues exceeding, this makes the
(BRAND FIRM) one of the most successful in the UK economy. However, it comes with a
huge cost in being able to produce large amount of revenues.
There are very high levels of competition within the market with huge businesses such as
(RIVAL BRAND), (RIVAL BRAND) and also (RIVAL BRAND) remaining to be the UK’s leading
brands with a combined market share of (PERCENTAGE), this can be a weakness as there is a
huge amount of competition within the (FIRM). However, it can be an opportunity for a new
business as they can identify a gap in the market or be termed as a niche market whereby
there will be less competition.
The demographics in the (BRAND FIRM) is that in the UK, we now (INTERACT) roughly
around (NUMBER OF INTERACTION WITH AN ITEM) a day along with a mix of different types
of people whether they are young or old or even rich or poor, with (PERCENTAGE) of
(BRAND) is being (INTERACTED) at home, with the (PERCENTAGE) at work or while studying
and with the rest being is used in the (FACILITY), (FACILITY) and (FACILITY).
One of the main trends within the market is that it is predicted that customers will focus on
where the (BRAND ITEM) have been grown and on the quality of the (BRAND) preparation.
This can lead to an increase in demand for specialist (BRAND FACILITY) offering high quality
and also ethically sourced goods with a variety choice of (BRAND ITEM).
, Name: Unit 7 - Exam - Report
Implications of Resources
Physical Resources
Vehicles will (NOT/NONE) be required within the business unless if it is delivery of supplies
coming into the business or the idea of providing (BRAND) to customer by delivering, then a
vehicle would be needed for transport for either existing business or new business. Building
will be required to carry out day to day business operations as there will be face to face
customer interaction for either existing business or new business. Machinery will be needed
in order to produce the (BRAND) for the customers for either existing business or new
business.
The cost of getting a normal vehicle is around (£?) and with insurance and road tax on the
vehicle will be around altogether (£?) for both existing business or new business. For
purchase of a building the annual lease of premises per year for an existing business is
around (£?) a year whereas a new business annual lease of premises is only (£?). The cost of
getting (BRAND TECHNOLOGY) is (£?) for the new business which is termed as a start-up
cost.
With the existing business location, it is based in the (TOWN/CITY) centre. The way that this
is beneficial is that workers from others shops are able to get a (BRAND) during their break
as well as students from nearby educational facility coming in to get a (BRAND) as well and
this will lead to more increase in sales. However, there are many competitors within that
area with more than (NUMBER OF COMPETTITOR BUSINESSES) competitors nearby.
With the new business location, it is based outside of the (TOWN/CITY) which is near local
shops and transport links along with popular tourist attractions. The way that is beneficial is
that tourists are able to visit the store and getting a (BRAND) while going to the popular
tourist attractions and another benefit is that for workers who might have to go their
workplace at another place they can stop by at the (BRAND FACILITY) as there is parking and
get their (BRAND) and go to work. However, by having the (BRAND FACILITY) outside of the
(TOWN/CITY) you are less likely to get more customers therefore it leads to decrease in
revenue and potential loss.
Human Resources
The staff requirements for the existing business are that they already have (NUMBER) part
time staff members at the (BRAND FACILITY) which is also the same for the new business
staffing requirements of only needing (NUMBER) part time staff members.
It is very important that staff members are paid equally and paid at least to the minimum
wage standards which is currently at £4.81 an hour as the minimum wage for 16-17 years
old, £6.83 an hour as the minimum wage for 18-20 years old, and £9.18 an hour as the
minimum wage for 21+ years old but will increase by April 2023. The reason why it is
important to pay staff members equally is because they will feel that they are not valued
enough by the business and therefore might leave the business. The Equality Act 2010
legally protects people from discrimination in the workplace and in wider society. It was
previously called the anti-discrimination law with a single act, by producing this law it makes
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