Examine the market research required for the catering company as a new Lab Report

Examine the market research required for the catering company as a new start-up sole trader company - Lab Report Example Subramaniam and Coyne (2013) emphasised that due to the intensity of rivalry that start-ups face, market researches are very important for them in ensuring that they take the right actions towards their targeted market. In the current case, the start-up sole trader is a catering company with 5 workers and 1 owner. All workers have the same level of skill in driving, baking, cooking and making of table. The staff of the company are considered well motivated for the roles they are assigned. The business idea of the new start-up sole trader company is to organise parties for individuals, families and corporate bodies. This means that the company is broadly in the hospitality industry as its business orientation requires the provision of food service to clients (Davis, Eisenhardt and Bingham, 2009). This enterprise is considered appropriate for the sole trader given that the sole trader has personal experience in catering. There are various price strategies available for the sole trader. On the whole, pricing is based on the client size and the nature of service requested. This is because there are general services and prestige services. There is also a pricing formula where the larger the client size, the lower the price per head of service received. An ideal price for general service is $10 per head whiles that for prestige service is $15 per head. The sole trader liaises with external suppliers who use the route planning model of logistics as way of achieving efficien t logistics (Ciborra, 2006). The current market segment of the sole trader is corporate institutions, meaning there is a business to business (B2B) business model (Stewart and Cohen, 1994). The use of differentiation strategy is the company’s major strategic option. Whiles the sole trader is in the market also, constant research that helps them to come to terms with the changing dynamics of the market is also necessary

Northern Rock PLC Essay Example | Topics and Well Written Essays - 1000 words

Northern Rock PLC - Essay Example In this way the government, representing the taxpayers, may recoup its investment and the bank may be returned to the private sector. A bank that shows consistent profit is attractive to potential buyers. To do this its financial strategy must continue its plans of further restructuring its business model. It must reduce its capital costs base by better cost management. And while pursuing and adjusting to medium term growth, Northern Rock must focus on innovation and new markets, and continue to build on transparent and open communication with its stake-holders. Discussion Today, under Government ownership, Northern Rock Plc has kept together some 70 branches over which it must wield a steady hand toward corporate profit in the interest of its stakeholders, the taxpayers, and its depositors. Since its black day of 17 September 2007, when depositors were shown on worldwide TV queuing in long lines outside the bank to make their withdrawals, the bank has went through several stages of restructuring. The initial one was the takeover by the government. Throughout these restructuring processes, the bank has sought to rebuild a substantial market for its mortgage loans, a market that is different from the business plan that the bank had pursued before 2008. Previous to 2008 and after Northern Rock became public in 1997, the bank soon embarked on a risky business plan that was coupled to a flawed bank regulatory system. Since 1997 Northern Rock was regulated by the newly created Financial Services Authority (FSA). The FSA did not share any information it had with the Treasury or with the Bank of England who was responsible for monetary policy. Both the FSA and the Bank of England were slow to step in and stop Northern Rock’s demise. The FSA had, in June 2007, instead allowed Northern Rock to decrease its amount of required on-hand capital. This action exemplified the regulatory system that allowed the bank to overextend itself in the speculative mortgage deriva tive market. But even today the bank as a retail and savings bank must rebuild its image and processes in the same waters of financial risk. During the period of the default, Northern Rock’s business plan was based on securitizing mortgages in the short-term wholesale market to support its long-term longs. It was packaging multiple mortgage loans and selling them as bonds to investors. This business model had depended on stability in the mortgage securities market and the confidence of those who traded in the debt packages. When the housing prices begin to show full scale plummeting from speculated highs, lenders stopped extending rollover loans to Northern Rock and they eventually took their money from the bank. In August 2007 credit froze up in the bank liquidity market and Northern Rock could no longer sell bonds over the face of a broad liquidity freeze. It could not make any new loans. On August 13, 2007, the bank requested emergency funding from the Bank of England. It was only after the Chancellor of the Exchequer guaranteed all deposits at the bank in later September did the resulting bank run stop. The present Northern Rock Plc was created from The Northern Rock Transfer Order which on 1 January 2010 restructured the bank into two banks, Northern Rock Plc, the savings bank with new mortgages, and the Northern Rock Asset Management Plc (NRAM) (NRP, 2011). The latter took over the "toxic" mortgage assets and is concentrating in mortgage loans. North Rock Plc began its