Section 1
The following is the summarized version of the below-presented report that is segmented in various sections. The segments are focused on the development of a new venture and are majorly divided into two parts. The prime objective of developing this report is for establishing a new business and for which an interview of an entrepreneur for analyzing the venture operated by the entrepreneur (Barringer, 2015). This business of the entrepreneur can be of any type such as technology venture, micro-entrepreneurial ventures, or sole proprietorship. The selected entrepreneur should be at least for three to five years in the industry. The business ought to be development situated and display advancement in its items or administrations, frameworks, forms, and so on. Every part will direct semi-organized meetings with the business visionary, in light of a typical meeting convention foreordained inside the gathering before starting. The meetings should cover parts of the business and in addition individual characteristics, conditions and inspirations of the business visionary to the difficulties the businessperson has confronted or is confronting.
Understudies ought to likewise center around gathering data on how the business is really performing. The second part of the report comprises of the reflection of the 5experiences that has been gained by interviewing the entrepreneur and should also draw from the learning and develop the business proposal (Burns, 2017). This will be encouraging to have a completely new business idea that is innovative. The report can also be focused on the new idea of a new business and it needs to be different from the existing business with unique and differentiating business. Furthermore, the report is segmented in various sections and the same are described as below. The first section comprises of the analysis of an entrepreneur for evaluating the new business. This analysis is based on various points. The second section of the report is focused on the proposed new venture .This part will be reflecting the on the experiences of interviewing the entrepreneur. The next part is about the business, comprised of the Industry background, goals and potentials of the business, key features of the business and its uniqueness, location, proximity to suppliers, access to transportation (Dodgson, 2018). The next segment is about the strategic analysis of the business idea that will be developed and the sustainability measures. The next part is about the marketing aspects and the strategies that are associated with the concept and at lastthe risks associated with the new venture.
Blue kangaroos is a soccer team plus it is engaged in number of soccer related activities and events. It is one of the new Australian soccer team-managing group also. The main purpose of the blue kangaroo’s business is to get associated with bigger brands and promote soccer game. Blue kangaroo organize different events as well as also participate in several events and matches also. The organization makes sure that the soccer teams owned by the group gets all the services they require in order to perform well. All the athletes of the team gets the first class service by the soccer management staff. The company also involves all the players in each kind of business meeting so that the players get a chance to know the business partners and enhance their knowledge as well. All the specific kind of requirements of the team players are fulfilled by the management group that is blue kangaroos. The business group maintains a link between the company and the soccer team so that a positive environment is created. Many popular soccer players like, Mark schwarzer, Tim cahill are invited from time to time in order to motivate the players. Players from the field are better at giving advice related to football and the lifestyle therefore it gives an extra motivation to the players as well. The organization also has a team of experts for the football team who can give the moral and physical support to the players when needed. Blue kangaroo’s main objective is to become the Australia’s one of the most renounced football managing team. Blue kangaroo is trying it’s best to become one of the top football managing team for instance, launching different events, inviting different athletes to motivate the teams etcetera. In the last 2 years only blue kangaroo has represented around 10 soccer teams and provided the teams with the best service ever. Blue kangaroo’s management structure is very comprehensive and the management group takes each player’s lifestyle into account so that the team gives their best in the field. Blue kangaroo make sure that the client team deserve each and every kind of success let it be personal or professional kind. This quality of blue kangaroo is what makes it unique than the other management team. The management team put their best efforts to refurbish the player’s skills and dedicated staff helps the teams to achieve success. Blue kangaroo offers the best services along with the cutting edge type of technology. A great team of CEO’s and HRMs helps the organization to do the career planning for the teams in an innovative way. The team of managers helps the organization to get a top position in the market and better endorsements. Industry experts are trying their best to enhance the growth of the business. The environment of the organization is very friendly and provides personal attention to each player. Here at black kangaroo, proper attention is given to each and every minute details along with the 24/7 services to the players.
Business-description
Financial- Blue kangaroo has a philosophy for the finance management which is, providing the team players with the basic budgeting and the financial knowledge so that it will be easy for them to understand.(Kuratko, 2016). The current CEO of the company has played out the strategy for the financial manager of the company. The company has faced a huge downfall in the past few years; therefore, the CEO has introduced a turnaround strategy for the business. Along with that, the financial manager has been done by some new financial strategies for the new collection, which makes it feasible according to the financial management point of view.
Social- Blue kangaroo maintains a highly social environment at the organization so that each and every player of the team feels involved. Each staff member pays attention to every single individual and considers every little problem. (Scarborough, 2016). The company’s new contract for the team is very feasible and efficient that it can satisfy the team’s needs. They are also working on their pricing strategies as well so that the customer can easily afford the product. Social factors affect the company in so many different ways and the company has been successful in defeating all those challenges, in many different ways possible.
Environmental- Due to increasing environmental concern, government of Australia has launched and implemented some policies to conserve the environment and the biodiversity (Wadhwa, Phelps and Kotha, 2016). Each and every kind of services provided by blue kangaroo is ecofriendly. Another extra services provided to the teams are all organic and does not violate the environment in any way possible. The company follows all the rules and regulations implicated by the government. On the other hand the services provided by the company is completely feasible according to the environment and does not affect the environment in any way. All the event organizations are organized in such a way that no adverse condition of weather can affect the environment during the event.
Marketing philosophy- Blue kangaroo’s main objective is to become one of the top leading football management team of the Australia and earn a great profit within a year with it’s first class services and management. (Armelini and Villanueva, 2011). Their main strategy to achieve the market target is to involve the customers in each kind of interaction no matter the size and putting them at the center and making the interaction customer-centric. Customers are the important part of the organization; therefore, they are trying to provide the customers with the best first-class services as possible (Hoskisson, 2009).
Target market- Target market is the group of the customers on which the business entity will focus all the marketing and other strategies for influencing them and tend them to purchase the products and services. Target market of Blue Kangaroos mainly consist of, the sports persons and athletes. They are providing the best quality of products and services to the customers in order to increase their customer base (Armstrong, Kotler, Harker and Brennan, 2015). A target market is the main concern of the Blue Kangaroos and they try to provide the services at a reasonable rate to them. These efforts are made to make the customers feel special and to treat them with first class experience. This strategy will help the business corporation to increase their customers along with attracting more and more customers (Hill, Jones and Schilling, 2014).
Promotional strategy- Blue Kangaroos is using all kind of platforms to promote their new collection in many ways, like social media, newspaper, television, advertisements and many more (Baker, 2014). Mainly, the business corporation is using the social platform. This way they will be able to attract the more customers by using a very little budget. This platform will give them the opportunity to be connected to millions of users and convey the brand story to them in a very efficient manner (Drummond, Ensor and Ashford, 2012). Another way is advertisements through a banner; those banners can be placed in the highly crowded area that can get a high attention.
A risk associated with Blue Kangaroos is mainly because of increasing competition. Many other brands or sports clubs are trying to provide the same kind of services at a very low pricing range, which is a huge concern for the business entity (Farahmand, 2011). It challenges the margin and the inflow rate of the company. Imitability is another risk for the company, many other small companies or new entrants try to offer the same services as the one offered by the bigger brands and then they sell it at a low price. Imitating the product and services gives a huge challenge to the bigger companies. High pricing is also a great risk for the company. Due to high pricing, many customers choose another brand, which provides the same product at a low rate. Increased laws and policies for the environmental conservation affect the transportation and the production of the company products (Hollensen, 2015). All these laws and policies can even affect the logistics, which further delays the delivery of the product. Increased bargaining power of the suppliers also affects the pricing strategy of the products, which eventually affects the customers’ demands in several ways. All these challenges really put a damper on the sales.
The above reports consist of so many business factors and the ways in which the business is facilitated. I have learned several different ways and strategies for the business administration. After interviewing the CEO of the company, I got to know many strategies and business ventures. In the beginning, I was told about the type of organization and all the major details of it. The ways in which the sports industry work and operate has also been explained in this report. I have also learned all the difficulties faced by the industry in the past few years. In the further segment, I learn about the type of business and the things in which this business deals. I also learned about the different type of products that are offered and sold by the business corporation. Main products and services are sponsorships, all kinds of sports related accessories,and other sports related products. Blue Kang aroos have merged with various sports brands and now is offering and deals in sports apparel. CEO of the business entity also explained few marketing and business strategies in the interview. For instance, social, financial and environmentalfeasibility and many more and on the other hand marketing strategies like, promotion, target market and the market philosophy of the Blue Kangaroos. Feasibility analysis is also explained in this report. I learned that the feasibility analysis is done in order to check whether the latest project of the company is feasible enough according to the profit or not. Financial feasibility explained in this report states that whether the new project is profitable or not.
The latest project of Business Corporation’s financial analysis was also explained in the interview as well. The CEO of the Blue Kangaroos described environmental feasibility of the entity’s latest project. He stated that the project is feasible according to the environmental conservation point of view and follows all the rules and regulation implemented by the government for the environmental conservation. The new project of the business firm also follows the social and cultural factors in order to attract the customers in each aspect possible. The CEO in the interview also explained the marketing strategy of the firm, he explained the promotional strategy of the product stating the use of social media and the advertisement platforms for promoting the products. The marketing strategy of the new products and services of the business corporation is clearly simple and played out in such a way that a large mass appeal will be produced and more people will be able to get the benefit of the new collection. The marketing philosophy was also explained under which the company is trying to provide the customers with the best experience in a first-class way. The target market of the company is sports persons and athletes mostly. The last part of the interview was focused on the risks associated with the business entity.
References:
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