Wednesday, August 28, 2019

Entrepreneurship Essay Example | Topics and Well Written Essays - 1000 words

Entrepreneurship - Essay Example Marketing would get better services from the most competitive companies and improve branding. PESTLE ANALYSIS Political Few political issues affect the progress of the ten in bowling centre being an independent, privately owned company. The political system may only affect the company indirectly with the legislation passed to contain activities by the workers in the facility. Economic The economic activities that affect the prevalence of the business would be the either economic condition of the market that may be due to inflation or condition in the stock market. This may cause the varied patterns in consumption within families that may find difficulty in budgeting for the leisure activities. Social This is considered in the image created in the facility being either a positive presentation in socialization or a developer of vices like alcohol abuse for teenagers. The facility may also be considered a source of social support and physical development as it increases the sport level. Technological This affects the sport industry with advancements included in every sport facility for development and easier completion. Technological factors makes the business more flexible, easier record preservation and analysis in the game progress. It also increases the mood of the business as customers are accorded a dynamic approach in the bowling game. Legal The legal issues affecting the organization are contained in the presentation of the government to regulate the services to the population, premises of operation and the hours of business. Depending on the facilities within the establishment, the legal factors may affect the operation of the business through restrictions in the guidelines to be implemented. Business Plan Businesses are presented with the challenge to predict the market structure and the behaviour of consumer groups. Through the strategic planning and organization of events, the organization can deliver provisions that deliver progress and success to the created policies. New businesses are created based on the culmination of strategies of successful organizations and strategies that have been proved to prevail in the setting. Business plans are presented as formal statements that present the business’ goals and objective that are believed to be achieved within the set time (Crego, Schiffrin & Kauss1995, p9). The statement also presents the measures that the business plans to implement to achieve the objectives within the setting as they desire to progress within their areas of establishment (Berry, 2012). Business plans are developed to be based on the intuition of the organization to issue an account of the directive warranted to deliver increased results and progress within the setting. Without the plan, information on the business objective and strategy may not be outlined for the competitors and predictors to articulate the future performance (Longenecker, 2006, p117). The presentation may also be included to list the m embers of the organization and the background of the growth of the business into the market under consideration. A business plan has been issued as a means of the organization to predict future developments. This aids the firm in achieving the mission listed as the company is presented with measures to focus on the paramount points. The business is capable of allocating resources and adjusting strategies to achieve the desired target within the stipulated period. Most business plans are included in

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