Introduction
Business plan is considered as a formal statement where all the factors are included through which goals and objectives are attainable. In this, background information of the company is involved so that they can work on it. According to this modern scenario, now people are more conscious about their health and for this they are concerning various health related organisation (de Bakker, 2016). Robert Limited is an organisation that offers services related to reflexology to its clients at their homes and offices as well. Their main aim and objective is to provide better and effective services at minimum cost. This report includes all the elements required for making an effective business plan. Market research is also included so that the company have an idea of their targeted customers.
Social Enterprise
Social enterprise is considered as an organisation that works for either profit or non-profit purpose. Thus, they work for achieving both business and social goals, along with their main motive to promote, encourage people for making a change in the society. Robert Limited made a social innovation by adopting new strategies and ideas so as to meet their requirements, for example: company is giving facilities through Reflexology; it is a kind of zone therapy that is treated by involving application of pressure on feet and hands. Basically, it is given specifically through thumbs, fingers without a1526129438pplying any oil.
Robert Limited has its own vision of providing services to all its clients at a reasonable cost so that every person can afford. For this, they are using relative technology that is not so costly (Glasby, 2017). Along with this, their mission is to give facilities to maximum number of people. Other than this, it raises awareness about current health problems through communications, event and conducting campaigns.
The culture and core values helps a firm in moulding the vision of a company, therefore, organisational culture is determined as an assumptions, symbols and values so that company can conduct the activities in a better manner. Mainly, core values that social enterprises should consider community, empowerment, innovation, integrity and ownership. Apart from this, social enterprise doesn't have any shareholders as it is not a private company and they operate their business by themselves. Through the process of social innovation Robert Limited is developing and deploying suitable solutions in order to overcome all their challenges and environmental issues so that they can gain social progress.
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Market Research
Market research is a must if any company wants to provide better services and facilities to all their clients. Through this process, they collect information about the targeted markets and customers so that they can give services accordingly. It is determined as one of the important components used for a business strategy (Jarvie-Eggart, 2015). This provides competitive advancement to the organisation as this process can analyse the market need along with size and competition. Therefore, market research can be conducted by the company itself or with the help of a third party. It includes surveys, product testing on a targeted marketed. Thus, market research is about knowing what customers want from the market. Henceforth, they check the feasibility of the commodity or the new idea.
The concept of marketing research can be understood by PESTLE analysis which is given below so as to understand it in an effective manner.
<pPolitical Factor: Sometimes political factor is considered as one of the barriers for most of the companies whether they are new or any existing firm. As the conditions may be favourable or unfavourable for an organisation; ; it is mandatory that enterprise have a good relations with the regulatory bodies. For Robert Limited, political factor is having a great impact as the labour cost that is applied by the government of United Kingdom is relatively high which is being costly for the company.
Economic Factor: Marketing can be directly linked with the economic factor because if an organisation have ample amount of funds, then they can use appropriate marketing tools for promoting their activities. Therefore, it increasing the purchasing power for the firm, inflation and deflation both have an impact on the business operations as it affects demand and supply as well. Henceforth, sudden change in economy can hamper the entire business of Robert Limited. For example: if a company wants to buy products and the interest rates are high than growth of the organisation can be hampered.
Social Factor: For developing a marketing strategy, it is important to understand the factors that can help in implementing plans in an effective manner. Robert Limited considers social factors, as treatment that they are providing are at reasonable cost so that it can be affordable by most of the people.
echnological Factor: Reflexology is a therapy that is treated with the help of applying pressure in body parts. Other than this, Robert Limited is using latest technologies that can give them maximum benefits. Along with this, it is applying new and innovative ideas so as to give tough fight to their rival companies.
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