Business Strategy in the Global Environment Assignment Help
1. what your new business is. Do you provide a service, or a product? Define this business you have spent so much time dreaming of starting.
2. Develop a PEST Analysis using this template: PEST-analysis-template-doc.doc .
3. Describe how you are going to grow this business in the global environment.
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1. Introduction to a new business product
The business environment takes into account the introduction of new business ideas for the growth and stability of the companies venturing into the global environment (Halinen, 2017). The entrepreneur has decided to launch a vegan food truck for hostel students for US students of Standford University. The vegan food truck is designed to carry out activities of providing healthy food to the college-goers at affordable prices. The students that were increasing at an alarming rate initiated the new business idea after thorough market research on the consumption of junk food. The vegan food truck will be providing affordable and healthy good options and is embedded in the idea of low investment. The justification in the introduction of the vegan food truck for the student of US is to provide organic and healthy food materials such as sandwiches and burgers with low fat content and to eradicate them from consuming junk food.
The new business idea looks after the health of the college students that are taken in by the use of conspicuous food items. This new business product will serve as a means of ending the consumption of a high rate of junk food and will entertain the idea of greens for the students. With the introduction of the organic nature of the food materials, the students will be able to make the use of better services, which would help them to stay fit and strong. The USP of the food truck is to provide free delivery options to its customers and relish their delicacy.
3. Description of the business in a global business environment
The entrepreneur will conduct effective market research to reach out the idea of healthy eating to students all across the globe such as France. The ideal and targeted customers will be hostel students and college goers, which are exposed to the world of junk food as their choice of a healthy food option. The entrepreneur will make the utilization of a unique value proposition to garner understanding to a new customer base. The competitors in the global business market for the case of a vegan food truck will be assessed and analyzed. This will improve the existing operations and capabilities of the business.
The entrepreneur will also take into account the use of the marketing strategy and adapt a marketing mix to venture into foreign markets (Vanwersch et al., 2016). This will be useful in the recognition of the needs of the customers and their demands. Therefore, the new business idea will be immensely successful with the growth of prices and profits, which would be unleashed for the growth and viability of the business. The marketing approaches and the system rubrics will be instrumental in reaching to a wide customer base. This is useful and important for the comprehension of the business tool and strategy.
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