Management & Business Context Essay-Free-Samples for Students

Question: Identify a hypothetical business opportunity that if you had the funds, time and drive you would pursue as a business start-up. This could be an idea you believe has the potential to become a business for you to own and grow. Answer: With the change in the needs and expectations of the people, there has been a rise in the products and services offered to the people. This has resulted in an increase in the level of competition in the business environment of Australia. From the analysis of the environment of Australia, it has been analysed that people in Australia are more concern for the safety of their pets when they are on a trip due to personal and professional reasons. Analysis of the need of people for pet homes for their pets has provided an idea of setting up a new business. Pet care industry is full of opportunities and is full of chances of success and growth. People are a concern for the safety and security of their pets which is the reason behind the growth of the pet care industry. Name of the pet home will be Nurture pet home which will be providing pet care services and pet sitting services in Australia. Nurture pet home will offer pet home services, pet sitting services and pick and drop services fo r the pets. The focus of Nurture pet home will be on providing quality services and taking care of the pets for ensuring their safety and security. Nurture pet home will be operating at a medium level and at different locations in Australia. Nurture pet home is planning to adopt few strategies for establishing the business in an efficient market and gaining a competitive advantage. It is planning to adopt strategic positioning strategy, web presence strategy, online advertising strategy and differentiation strategy (Salminen, 2014). All these strategies adopted by Nurture pet home will help in attracting the customers and meeting the expectations of the customers. The vision of Nurture pet home is to resolve the issues or challenges faced by the pet owners. Its motive is to enhance the standard of quality offered in the pet care industry. For the management of the different operations of the pet home, Nurture pet home has evaluated the advantages and disadvantages of different organisational structures. It is planning to adopt functional organisational structure so as to manage the operations and internal structure of the business in an effective manner. Different departments will be divided and managed by different individuals so as to ensure that operations of the pet home are conducting without any delay (Latif, et. al., 2013). Different departments in the Nurture pet home will be housekeeping, kitchen, finance, marketing, security, administration and pick-up and delivery department. Activities or operations of the pet home will be divided among these departments (Morgeson, et. al., 2012). An organisation exists in the business environment which is a combination of different internal and external factors. These internal and external environmental factors can enhance the performance of the business as well as adversely affect the performance of the business. Internal environmental factors determine the strengths and weaknesses of the business which helps in gaining the advantage of the opportunities available and coping with the threats. Internal environmental factors for Nurture pet home need to be analysed for analysing their impact on the business (Shiamwama, et. al., 2014). Internal environmental factors for Nurture pet home include the availability of finance, availability of the human resource, skills and knowledge, support from the employees, the culture of the organisation, communication process, mission and objective. There is a need to make an arrangement of the different resources including finance, human resource and skills and knowledge for executing the op erations properly (Fereidouni, et. al., 2010). Training must be provided to the employees for ensuring that quality services are provided to the pets and satisfying the expectations of the customers. Communication process must be effective for ensuring that the exchange of information is done in an effective manner. The culture of the organisation is responsible for the behaviour of the employees towards the service receivers and others in the company (Dragni?, 2014). Nurture pet home will maintain a flexible culture for encouraging and motivating employees. Nurture pet home will discuss its mission and objectives with the internal stakeholders for encouraging them and gaining their support. External environmental factors are those factors present in the environment in which business exists and are not in the control of the business. Nurture pet home will analyse these external environmental factors and dealing with these factors. External environmental factors include government ru les and regulations, competition in the market, trend and socio-culture factors, technological factors and environmental factors (Islam, et. al., 2011). Pet care industry is a growing industry and rules and regulations have been formulated for ensuring that the businesses are operating within the legal framework. Nurture pet home will ensure that rules and regulations are followed for ensuring safety and security of the pets. For gaining a competitive advantage over the others, it will offer its services through online mode. Customers can make bookings, payments and cancellations through online mode and access details of Nurture pet home through its website (Bouazza, et. al., 2015). Various risks may arise in front of a new business which must be dealt properly for eliminating the adverse impact of the risk. Nurture pet home can face various risks which can affect its performance. These risk factors include lack of skilled and trained human resource, lack of finance, failure of the planning process, market risk and safety related risks. Skills and trained human resource will be required by Nurture pet home for providing proper services to the pet. Skilled and trained employees will ensure the safety of the pets at Nurture pet home and ensure that proper records are maintained related to the pets. Regular health check-up will be performed in Nurture pet home for ensuring the health of the pets. Different pets will be kept in different cabins (Ejon Mbohwa, 2015). Finance is required for executing the operations without any delay. Lack of financial support can interrupt the operations of Nurture pet home. Nurture pet home need to analyse the sources of finance. A variety of services will be offered for enhancing the satisfaction level of the customers. Market trends will be analysed for analysing the current trends and innovations which can be implemented by Nurture pet home. Use of outdated technology can result in negative impact on the services offered. Nurture pet home will use advanced technology for improving the quality of the services offered. Forecasting will be used for eliminating the impact of unforeseen events on the performance of Nurture pet home (Islam, et. al., 2011). Nurture pet home will offer pet care services where people can leave their pets when they are on a trip, pet sitting services, pick and drop service for the comfort of the customers. Nurture pet home will offer its service through online as well as offline mode. It will adopt web presence strategy for making its presence on the internet. Customers can confirm bookings through the website of Nurture pet home and enquire about the services offered. Customer support will be provided for resolving the issues and queries of the customers. Different departments will be created for ensuring that operations are executed as per the plans (Smart Insights, 2016). Differentiation strategy will be adopted for differentiating the services offered by its competitors. This strategy will help in focusing on enhancing the quality of the services for attracting customers and enhancing the satisfaction level of the customers. For the marketing of the services offered, Nurture pet home will use social me dia platforms and print media so as to make the people aware of the services offered by Nurture pet home. Positioning strategy will help in placing the services offered in the market in an effective manner for enhancing the customer base of the company. Market research will be done for analysing the trend prevailing in the market. Training and guidance will be provided to the employees for ensuring that they are performing the roles and responsibilities assigned to them in an effective manner. Nurture pet home will focus on optimum utilisation of the resources available in an effective manner for generating the desired outcome and attaining the objectives set (Salminen, 2014). Organisations divide the operations of the business into different functions or departments on the basis of the nature of the operation. These functions help in executing the operations in a better manner and ensuring that the activities are carried out in the right direction. Nurture pet home will divide the operations into different departments and functions. This will be done for ensuring that all operations are performed and no operation is missed out. Different departments of Nurture pet home include housekeeping, kitchen, finance, administration, customer support, pick-up and delivery department, marketing and security (Anantatmula, 2010). Housekeeping department will be responsible for the cleaning of the pet home and ensure that the cabins of the pets are properly arranged. Kitchen department will ensure that quality food is offered to the pets and their health conditions will be considered for preparing food. The finance department will ensure that funds are arranged for con ducting the operations of the business. Administration department will be responsible for the management of the operations of Nurture pet home. Pick and drop department will keep track of the pets Nurture pet home will have to pick or drop. Customer support department will ensure that the issues of the customers are handled in a proper manner. The marketing department will ensure effective promotion of the services offered. Security department will be responsible for the safety of the pet home (Blenko, et. al., 2010). References Anantatmula, V. S. (2010). Project Manager Leadership Role in Improving Project Performance. Engineering Management Journal, 22, 1. Blenko, M. W., Mankins, M. Rogers, P. (2010). The Decision-Driven Organization. HBR. Bouazza, A. B., Ardjouman, D. Abada, O. 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