Create a business plan for an entrepreneurial company Essay

Create a business plan for an entrepreneurial company - Essay Example This will ensure that Soccer Nation’s business remains as competitive as the others which are already established. The store is a Limited Partnership that is owned mostly by Steve Thomason and Esther McKenna who control a 40 and 30% stake of the company. The main objective of the store is to be the leading provider of top quality soccer products around Boston. The store will make it possible for its customers to sample and enjoy its wide selection of products which are specifically made to make the sporting experience an enjoyable one. The target market for Soccer Nation will be anyone from the age of 10 to 40. Most soccer enthusiasts fall under this age group and they are also some of the most frequent buyers of soccer items. Soccer Nation wants to be the one stop shop for all people, young and old, who want to enjoy high quality soccer products. Soccer is without a doubt one of the fastest growing sports in the United States. However, there remains a huge deficit in the mark et since the suppliers of soccer items are very few. Over the last years or so, soccer as a sport has made tremendous achievements in the US and its fan base is growing each day. This has meant that the market for soccer merchandise is expanding at a fast rate, thereby presenting a great opportunity for start up businesses such as Soccer Nation. Boston is a perfect location as it is home to several universities and colleges, which contain many local and international students, the majority of soccer products’ consumers. At this location, the products will be available at a competitive price similar to that offered by other companies. The promotional strategy for this specific group of people will include free passes and tickets to soccer matches. The soccer merchandising industry in the US is marked by a clear lack of competition. The only serious competition for soccer items in the Boston area is from companies such as Nike, Olympia and City Sports which offer a variety of s ports paraphernalia unlike Soccer Nation which is planning to concentrate on soccer items only. Since there is no other store that specializes in soccer merchandising, Soccer Nation will face very little competition. This will enable it to establish itself in this particular market, hence developing a competitive advantage that is likely o benefit it in future. The people who will be in charge of running the day to day operations at the store are all well experienced in their various fields of expertise. They are also dedicated individuals whose only purpose is to ensure that Soccer Nation establishes itself into a sports powerhouse to reckon with not only in Boston, but in the rest of the country as well. Company Outline Soccer Nation is a limited proprietorship that is located in, Boston, Maryland. Esther McKenna and Steve Thomason are the founders and executives of this company. Steve Thomason is the majority owner, with a 40% ownership. Esther McKenna owns a 30% share while Mich ael Lutherfield, Moses Blundell and Richard Travis own 10% each. The company’s main aim is to provide high quality soccer merchandise at an affordable cost. The mission of Soccer nation is: To offer high quality and affordable soccer merchandise to its customers in Boston. The company’s vision is: To become the leading supplier of sports items and services in Boston. Some of the strengths and competencies of Soccer Nation include offering top quality soccer me

Hospitality and Tourism Essay Example | Topics and Well Written Essays - 2000 words

Hospitality and Tourism - Essay Example is evident that the business world comes with many uncertainties and therefore, gaining knowledge and information is a way of creating a competitive advantage. In this way, an important feature in the modern hospitality and tourism industry is the understanding of new techniques and procedures through staff training. Training and orientation is the work of the Human Resource Management (HRM) as a way of enhancing employee performance, while putting their expertise to good use as well as specialization in their job. It is therefore, important to understand the significant of personnel training as well as orientation in hospitality and tourism industry in a bid to enhance performance (Barrows and Powers, 2008). The drastic changing world of business requires making use of human capital to enhance performance in order to achieve the organizational goals. The human resource manager in the hospitality industry should understand the various changes in globalization, technological advances, staff diversity, shortage of labour, and employee involvement among others (Gonzà ¡lez and Tacorante, 2004). Training and nurturing employees is a concept that cannot be undermined by the human resource because it adds knowledge and power to become successful. New employees in hospitality and tourism sector need training to understand their duties and the existing employees need more knowledge to comprehend the changes in this sector. It is evident that thorough training exposes an employee’s competencies and behaviours to perform better (Ahammad, 2013). The many changes in technology, complex business systems, and uncertainty in the business world, call for more knowledge and new skills. In essence, (Gazija, 2011) argues that the hospitality and tourism industry witness mass production and generation of different products or services and customers are especially selective when purchasing them. In this way, this new demands in the hospitality industry need new solutions and wide