Small Business Environment
Please read carefully before you start the assignment. This assignment has two parts, A and B. All the different parts need to be completed. Part A is compulsory, while any three (3) questions can be answered from Part B. In total all submitted assignments should contain four (4) fully answered questions.
Part A (You are required to answer this question)
1. You are recently hired as the head business development department at Hilton Hotels in the Netherlands and tasked to launch a new product that will target younger market segment post-Covid-19 pandemic. The management has asked you to develop a comprehensive summary of what you plan to do. As part of this plan, you are to use Michael Porters 5 forces model to design your approach. The content of this plan should articulate different scenarios you plan to take and how this will help increase the market share of the company. (800 – 1000 words)
Part B – Answer any three (3) questions from this section.
There are 6 questions in this section. You are to answer any three of them. The case below is ONLY applicable to questions 2, 3 and 4. The other questions are not related to the case.
Covid-19 pandemic has brought a total market disruption in almost all sectors in the Netherlands, however, the technology sector is among the few that have used various innovative methods to ensure business stability and market growth. Majority of retail businesses are transitioning online to ensure continuity, sustainability, including targeting and attracting new customers.
2. As a retail business owner, you are planning to launch a new advertising program to inform your customers about the new changes you are implementing on in your business, which ranges from launching of a new website to getting a new location and re-branding. Suggest 3 different marketing methods you can use to be able to properly reach and inform your customers about this. (600 – 700 words)
3. A friend of yours, who is a general manager earning approximately €40.000 in one of the biggest hotel chains in the Netherlands is planning to quit his work to start an e-commerce retail business. Advise him on what the potential opportunity cost would look like, including the risks involved in running a business. (600 – 700 words)
4. To expand your retail business in Europe, your company is planning to enter the German market post-Covid-19. What are the barriers to market entry you will likely encounter and what solutions do you have in place to ensure its impact on your business strategy and growth is minimized? (600 – 700 words)
5. When choosing a legal structure, many startup businesses such as computer repair company or Landscaping company prefer to start their business as a Sole Trader. However, for them to be successful, they should form a business partnership. To what extent do you agree or disagree with this statement. Provide examples to support your answers (600 – 700 words)
6. Jane is planning to open a restaurant business in Amsterdam, but she is considering conducting only secondary market research. Explain the importance of primary market research to her and justify the reason why she should conduct both Primary and Secondary market research. (600 – 700 words)
7. Ms Jessica’s private limited company which is a food production company based in the Netherlands with an annual revenue of €2.5 million is planning to open a new factory in Poland. The construction of the factory is going to cost €700.000 whereas the equipment is going to cost €500.000. Suggest two financial methods they could use including the advantages and disadvantages of this financial method. (600 – 700 words) For more information on Small Business check on this: https://en.wikipedia.org/wiki/Small_business
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