Precision Lawn and Snow Company: Business Plan (Coursework Sample)
The paper required me to design a business plan for a company (Precision Lawn and Snow). The paper is structured in a manner that it provides the vital information for the business. For instance, the paper covers areas like business purpose, Industry analysis, the form of business ownership, Ideal customers, Ethical and social responsibilities of the company and global issues that may affect the operation of the company.source..
Precision Lawn and Snow Company: Business Plan
1.1 Precision Lawn and Snow Company: Business Plan
1.2 Business Purpose
The primary purpose of Precision Lawn and Snow Company is to maintain and take care of their customers' lawns. The company is structured in a manner that it has various departments that perform different and specific functions in the company. All the departments play a significant role in the company that is aimed at making sure that the company executes their purpose as required. Since the company's focus is on maintaining, designing and monitoring lawns of their customers, it means that the company will ensure that they have qualified and experienced employees who can take care of their customer's lawns. Besides, the company is also responsible for supplying all products that are required in marinating the lawns which include but not limited to pesticides, seedlings and manure. All this is aimed at making sure that the lawn of their customers is taken care of accordingly and to the client's specifications.
1.3 Industry Analysis
An industrial analysis is an analytical tool that is used by a business organisation in determining their position and strength in the market. Organisations use different types of analytical tools in determining their status and performance in the market. For instance, the company may use competitive forces model (Porters 5 forces), brand factor analysis (PEST analysis) and SWOT analysis in conducting a market analysis (CFI-Education, 2018). Performing an industry analysis is essential as it will help Precision Lawn and Snow Company in identifying their potential customers and also being in the position to know the supply and demand in the industry. The company will use the three named tools separately in determining different aspects of the market.
1.3.1 Porters 5 Forces
Michael Porter introduced porters five forces in his 1980 book. The techniques are used in analysing the industry and the competitive nature of players already in the market. Each of the five forces plays a significant role in determining the nature of the market. The five forces used in the market include the threat of potential entrants, the bargaining power of buyers, bargaining power of suppliers, threats of substitutes and power of complementary goods (Porter, 1998). Each of the five forces is essential as it can analyse the nature of the market and be able to help an organisation come up with appropriate strategies to survive in the industry.
1.3.2 PEST Analysis
PEST analysis is a tool that is used to analyse the external environment of an organisation. PEST analysis is responsible for political, economical, social-demographic and technological factors that may affect the operation and success of the company. The company will use PEST analysis in critically analysing the external environment and also in developing strategies and approaches that will fit their business operations.
1.3.3 SWOT Analysis
SWOT analysis is a tool that analyses the strength, weaknesses, opportunity and threats of a company in question. The company will use SWOT analysis by analysing both the external and internal factors that directly affect the performance of the company. SWOT analysis will help the company come up with many strategies that will help them overcome the threats and weaknesses in their operation. Additionally, SWOT analysis can come up with the right approach that will support the company's actions and activities that are aimed at improving their services to their customers.
1.4 Business Ownership
There are different types of business owners that depend on the structure and makeup of the business. Examples of business ownership are the sole proprietorship, partnership, corporations and limited liability Company, to name the dominant ownership in the market (Smith, 2017). Out of the above-named company ownership, Precision Lawn and Snow Company take the private traded company ownership. Precision Lawn and Snow Company is privately owned by a few designated shareholders who are dedicated to ensuring that they take their business activities and processes to a higher standard in the market (Shlomo & Andrea, 6 Nov 2008). The independence
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