Business Planning - Essay Example

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Business Planning

In this case, the action of the employees is intrinsic for the success of the plan since the type of businessi idea involves a one-on-one conversation with the customers.
3. Fixed prices for renting: considering the state of the industry, owning and renting a car, the business idea is considered strong since the involved customers are made aware of the prices. The prices are fixed since there are less external influences on the prices such as weather.
1. High product pricing: Botflex plans to offer high quality services to the boat owners and the tenants thereby leading to the high product pricing. Because of the need for offsetting the high production cost associated, the business finds it difficult to charge low prices. This acts as a weakness of the company since most of the potential customers are medium income earners.
1. Chance for entry into new market: There are few corporations dealing in the same products thereby presenting an opportunity for entry into new market. The company can establish its critical operation to other new areas because of the higher economies of scale associated with venturing.
2. Collaboration with other companies dealing in the same products: There are many companies which recognize the good reputation held by a company, successful in making people rent ships. This means that there are chances for the company reducing the associated costs through collaborating with other recognizable companies.
1. Escalating prices of boats: The escalating prices bears chances for inefficiencies in the production process of the company considering that the prices of raw material for making boats are on the rise.
2. Trademark infringements: Trademark infringement is just like another threat which usually faces newly established company. The company branding is susceptible to cases of illegal use of trademark especially by the competitors or other newly rising ...
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Summary

Few competitors in the industry: There are few corporations willing to venture into this business, around the area, because of the fear they have in marketing the product. This business idea will work effectively since its situated in a local place where there is an easy…
Author : magdalen02

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