Table of Contents
2.0 Nature of the business.
2.1 Business background, structure, and nature.
2.2 Peace Essentials’ vision and mission.
2.3 Goals and objectives.
3.0 Proposed future business.
4.0 Customers of Peace Essentials.
5.0 Target Market Research.
6.0 Competitor Analysis.
6.0 Skill Analysis.
7.0 Resources required and plans.
8.0 Suitable resources for funding.
9.0 Plans for obtaining resources.
Recommended pricing policies for the next 24 months.
10.0 Management Information System.
11.0 Mission and Vision of Business Idea.
There is a high growth potential of entrepreneurship business in the present world including the UK. According to Shane and Venkataramn (2014), entrepreneurship refers to the process of innovating and exploring the new opportunities of unique products and/or services towards a specific group of target markets or customers. Torrington et al. (2015) said entrepreneurship refers to the processes taken by a small and medium-size firm for hunting opportunities and creating new products and services.
As Wright and Snell (2014) note, it is essentials for entrepreneurs to create an effective business growth plan to gain sustainable competitive advantages in the market. Briton and Gold (2013) said entrepreneurs need to follow sequence steps to develop an effective business growth plan.
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The paper develops a business growth plan for an existing small and medium-size entrepreneurship business. The business name is “Peace Essentials”. The first section of this paper outlines the burins’ growth plan, structure as well as a process. The second section focuses on the proposed future business. The third section conducts customer analysis. The fourth section conducts a competitor analysis. The fifth section conducts skill analysis. The six-section outlines the resources required.
2.0 Nature of the business
2.1 Business background, structure and nature
Peace Essentials is a small and medium-size exiting entrepreneurship business. It has been operating in the Shadwell area of East London since 2010. The business was founded by brothers, called Mr. Shaekh Abdur Rahman and Mr. Ershad Ullah. It serves about 3000 customers in a week with its six dedicated and devoted employees. This is a private and partnership company, where the partners are those mentioned above. The main products of this business are Islamic clothing, Islamic books, alcohol-free perfumes, and fragrances, etc. (Peace Essential, 2016).
2.2 Peace Essentials’ vision and mission
Kotler et al. (2014) disclose that vision is the key target point of a business where it wants to reach, whereas the business mission is the business plans how it will reach the vision or business target point. The vision of Peace Essentials is to be leading retailers in the sector of Islamic clothing, Islamic books, and alcohol-free fragrances and perfumes. The mission of Peace Essentials is to offer quality products at cheaper prices through excellent customer services and marketing campaigns.
2.3 Goals and objectives
The business goal of Peace Essential is to increase its business growth and performance with improved revenue and profits. The main objectives of Peace Essentials are outlined below:………
3.0 Proposed future business
The key products of Peace Essentials are Islamic clothing such as women’s scarves, veils, Libya, men’s Panjabi. Then, the Peace Essentials sells a different kind of Islamic book such as the Holy Quran, Holy Hadid. Then, Peace Essentials sells different kinds of alcohol-free fragrances and perfume………….
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