Assignment

-Submitted to ; Grace Special Education Center

-Diploma Program ; PROFESSIONAL DIPLOMA IN ENTREPRENEURSHIP (PDE)

(ABE (Endorse)-UK)

-Subject Name ; Business Studies

-Assignment Title ; Business Studies for Your Business

-Academic Facilitator Name ; Sayar Thant Htoo

-Submitted Date ; 16.6.2021

-Submitted By ; Ms, May Thandar Oo

-Batch Name ;Batch-1

Assignment Paper Rules

- Font : Times New Roman

- Size : 12

- Line Space :1 .5

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Table of Contents

Assignment Title; Business Studies for Your Business

1 Assignment Overview…………………………………………………………... 2

2. Vision, Mission, Goal & Objective…………………………..………………... 3

3. S.W.O.T. Analysis….………….……………………………………………….. 4,5

4. PESTAL Analysis ……………………………………………………………….5,6,7

5. Poter’s 5 Forces ………………………………………………………………... 7,8

6. ANOSFF’s Matrix for Marketing Strategy …………………………………..9,10

7.7S - Framework …………………………………………………………………10,11

8. Conclusion ……………………………………………………………………... 12

9. Reference ...…………………………………………………...………………... 12

1. Assignment Overview
For a business, business vision, mission are main things for a business to be success. And also
need to analysis your business what are your strengths, what are your weaknesses, what are your
opportunities and what are your threats. And you have to do what kind of business strategy is the best
strategy for your business.
There are always two parts to a business; the internal section and the external section. In business
management, your internal business sector is indirectly affected by staffing and other internal matters,
which can indirectly affect your business. The external sector is directly related to the consumers or
customers as well as other external factors that directly affect your business.
Also, you have to decide what strategies will you use and which marketing method to use for
your business. You need to care internal customer and also external customer.
This is my own creation for my business. Assignment topic is about my business that Elephant
Foot Yam Food. For every business, any kind of business have his or her business vision, mission, goal,
& objective. And business analysis and business strategy also need to have for every business to be
success.

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 2.Vision / mission / goals / objectives

What is Vision, Mission, Goal & Objective

Vision statement reflects the company’s vision for the future. This is may be one Object and effective
goal.
Mission statement is that it sets out its goals and approach. These are many potential ways to achieve
your vision.
Goals are specific actions and timelines for achieving a goal.
Objective describe what is needed to implement a strategy.
Vision / mission / goals / objectives

Vision  Must be a prominent brand and successful business in the market within
5 year.
Mission  From small own business to large private business or public company or
factory.
 Get good contacts to get good suppliers for raw material.
 To promote economic cooperation.
Goals  Must be able to buy from all walks of life.
 Must be able to good customer service
 Must be easy to buy our products and services
Objectives  Must be closest to consumers
 Varity goods, good quality and customer price.
 Must be easy for consumers to buy
 Must be in good health

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 3.S.W.O.T Analysis

What is S.W.O.T Analysis?

SWOT Analysis stands for Strengths, weaknesses, opportunities and strengths analysis. Thus, SWOT
Analysis is done to know about the immune system of the business enterprise or the project and also helps in
making out a strategy so that the project or the business does not fall vulnerable to it.

A SWOT Analysis figures out the various factors be it internal or external which have effect on the
working of the business. It prepares the business against any contingency.

 S: S stands for Strength. It means the advantages the business or the project has in relation to the inner
and external environment.
 W: W stands for Weaknesses. These are the internal lacking of the business or project.
 O: O stands for Opportunities. This means the various chances the project or the business has to use it
for its benefits.
  T: T stands for Threats. This means the various outside forces which can pose a problem to the working
of the business or the project.

SWOT Analysis
Strengths Weaknesses
 Own Creativity  Increased market competition
 Good Quality and Customer Price  Procurement of raw materials may be
 Good customer service difficult
 Expand the scope
 Know the step to take
Opportunities Threats
 Attend online courses  Because of online learning hard to

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  Popular gifts concentrate
 Excellent quality (International Quality)  Due to the lack of on job training
 Variety is perfect experience, hardly reapply
 More choices  Internet connection issues
 Not used to working on online
 We have to make it suitable for different
classes of people.
 We must try to penetrate the market

4.PESTEL Model

 There are loads of business analysis tools out there, but the PESTEL model, also called PESTEL
analysis, is one of our favorites. The PESTEL model is a type of PEST analysis which considers six
crucial business factors. The six categories are: Political, Economic , Sociocultural, Technological ,
Environmental and Legal.
What Is the PESTEL Model?
A PESTEL analysis (formerly known as PEST Analysis) is a framework or tool used to analyze and
monitor macroeconomic factors that may have a significant impact on an organization’s performance. This tool
is especially useful when starting a new business. 6 It is used better understand local and external factors related
to the situation, such as SWOT analysis and such as other business analysis tools.
Political
The political factors affecting a business include trade policies, workforce regulations, and various other
government legislations. If you want your business to stay within the bounds of the law, these political factors
are seriously important.
Economic

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The economic factors affecting a business refer to the economy in which it operates. Individual factors include
Gross Domestic Product (a measure of the value of goods and services exchanged in a country), exchange rates,
and inflation. Economic factors affect all sorts of businesses, but they’re most important for financial ones.
Sociocultural
The sociocultural factors affecting a business — sometimes just called the social factors — relate to the society
and culture in a given area, especially in how that can affect business. Two great examples of sociocultural
factors are consumer spending (in some areas, consumers spend more or less money than in others) and
demographics (like population, ethnicity breakdown, and gender prevalence).
Technological
The technological factors affecting a business include the rise of new technologies (such as robotics), as well as
the prevalence of infrastructure for slightly older ones. Particular important technological factors include
internet access, cellphone prominence, and automation.
Environmental
The environmental factors affecting a business are more significant than ever, considering the toll we are taking
on planet Earth. Many environmental factors are somehow related to global warming, such as climate change,
pollution, and supply of natural resources.
Legal
The legal factors affecting a business very often overlap with political factors. Nevertheless, they make the
“PESTEL” acronym easier to read, and so they’re worth mentioning. These include trade, consumer, and
copyright laws, which usually relate to political decisions.

PESTLE Analysis – Political

 government type and stability  social and employment legislation

 freedom of press, rule of law, levels of  tax policy and trade & tariff controls
bureaucracy & corruption  likely changes in the political environment
 regulation and de-regulation trends

PESTLE Analysis – Economic

 stage of business cycle  levels of disposable income & income

 current & projected economic growth, e.g. distribution
GDP / GNP growth  impact of globalization
 inflation & interest rates  likely impact of technological or other
 unemployment and labor supply change on the economy

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  labor costs  likely changes in the economic
environment

PESTLE Analysis – Social

 population growth rate and age profile  press attitudes, public opinion, social
 population health, education & social attitudes & social taboos
mobility, and attitudes to these  lifestyle choices and attitudes to these
 population employment patterns, job  socio-cultural changes
market freedom & attitudes to work  health consciousness

PESTLE Analysis – Technology

 impact of emerging technologies  research & development (R&D) activity

 impact of internet, reduction in  impact of technology transfer
communication costs & increased remote  degree of automation
working  rate of technological change

PESTLE Analysis – Environmental

 weather  climate change

 natural disasters  environmental taxes
 climate  demand for "green" products

PESTLE Analysis – Legal

 antitrust law  employment law

 consumer law  health & safety laws
 discrimination law

5.Porter's Five Forces

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What is Poter 5 forces?
Poter 5 forces analysis is a framework that helps analyze the level of competition in some industries.
This is especially useful when starting a new business or entering a new industry. The state of competition in an
industry depends on five basic forces. Understanding the tool Five forces model was created by M. Porter in
1979 to understand how five key competitive forces are affecting an industry. The five forces identified are
Threat of new entry, Bargaining power of buyers, Bargaining power of suppliers, Threat of substitutes,
Intensity of competitive rivalry.
Porter's Five Forces Factors

Threat of new entry

 Amount of capital required  Access to suppliers and distributors
 Retaliation by existing companies  Economies of scale Sunk costs
 Legal barriers (patents, copyrights, etc.)  Government regulation
 Brand reputation  Product differentiation
Supplier power
 Number of suppliers  Materials scarcity Cost of switching to
 Suppliers’ size alternative materials
 Ability to find substitute materials  Threat of integrating forward
Buyer power
 Number of buyers  Buyers’ cost of switching suppliers
 Size of buyers  There are many substitutes
 14 Size of each order  Price sensitivity Threat of integrating
backward
Threat of substitutes
 Number of substitutes
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  Performance of substitutes
 Cost of changing
Rivalry among existing competitors
 Number of competitors  Competitors’ size
 Cost of leaving an industry  Customer loyalty
 Industry growth rate and size  Threat of horizontal integration
 Product differentiation  Level of advertising expense

6.Ansoff Matrix

What is ANSOFF Matrix?

ANSOFF Matrix is a marketing planning model that helps a business determine its product and market
growth strategy. The four strategies of the Ansoff Matrix are Market Penetration ,Product Development,
Market Development and Diversification.

The Ansoff Matrix: Market Penetration

Market Penetration is growth strategy that focuses on selling the economy to existing products in
existing markets. Expansion of branches or subdivisions only in your business market. The risk is minimal and
you can customize the price and market of the product.

The Ansoff Matrix: Product Development

In market development, it expending its business market. PESTLE analysis is used because it is a field
expansion. For a new market of a business, you need to advertise and educate your business and market. It can
be accomplished

- Different customer segments

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- Industrial buyers for items previously sold only to homes

- New areas or regions of country

- Foreign market.

The Ansoff Matrix: Market Development

Product Development In product development strategy, a company strives to create new products and services
that are targeted to its existing markets of growth. They need to educate about their news products and services.

 The Ansoff Matrix ;Diversification

Diversification an organization strives to increase its market share by introducing new offers in
new markets. It is the most risky strategy because it is need for both product and market development.

1. Related diversification: There are potential synergies to be realized between the existing business and the
new product/market.

For example, a leather shoe producer that starts a line of leather wallets or accessories is pursuing a related
diversification strategy.

2. Unrelated diversification: There are no potential synergies to be realized between the existing business and
the new product/market.

For example, a leather shoe producer that starts manufacturing phones is pursuing an unrelated diversification
strategy.

7.7sFramework
The seven ‘S’ of the model are systems, strategy, structure, shared values, staff, skills, and style. They
are classified into soft and hard elements. The ones that fall under the hard elements include strategy, structure,
and systems. While the elements that are cataloged for being soft are shared values, skills, style, and staff.

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The McKinsey 7S Framework
 Strategy- plan to compete
 Structure - how organization structure
 Systems – daily activities and procedures
 Shared values - core values of the company
 Style – the style of leadership
 Staff – employees and their general capabilities
 Skills - competencies of employees
Strategy
The strategy is a plan development by a company to gain a strong competitive advantage and compete
successfully in the market. In general, a good strategy is one that is clearly stated; long lasting helping to gain
competitive advantage, strong vision when analyzed alone, it is difficult to say whether such a strategy is
compatible with other elements.
Structure
The structure represents a structure that contain information about who is responsible for the business
unit and units. In other words, it is the organization company’s organization chart. It is the visible and flexible
part of the framework.

Systems

Businesses’ systems are the processes and procedures of a company that disclose how everyday
activities are expressed and how decisions are made. Systems are the company’s responsibility for determining
how a business operates and should be the focus of managers during organizational change.

Shared Values

Shared values are central to the McKinsey 7s model. They are the foundation of all organizations that
guide the behavior of employees and the actions of the company.

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Skills

Skills are the ability of company employees to perform very well. They include starting skills and
abilities. During organizational change, companies often question the capabilities they really need to strengthen
their new strategy or new structure.

Style

Style explains how the company manages top managers; How do they treat each other? They represent
their symbolic value no matter what they do. In other words, it is the management style of the company's
leaders.

Staff

Employees need to know what type of staff they need in an organization; How to collect I will train and
teach.

8. Conclusion
To be success for a business, you have to do a perfect vision, great mission, good goal and objective.
You must do your vision, mission. Vision & Mission are life blood of your business to be success. So, you need
to analysis your business. What kind of Strength, Weakness, Opportunities and Threats do you have to; So,
you have to analysis of SWOT to your business. Strength and Opportunities are helpful and Threats and
Weakness are harmful for your business objective. So, you need to analysis carefully.
If you want to expand your business to one area, you should analysis what called PESTLE. PESTLE
means Political, Economic, Social, Technological, Environmental, and Legal what in the field you want to
expand. And so, you have to do marketing strategy for your business. So, you have you do best marketing
strategy for your business.
At last, you have to plan to get your vision. What kind of framework is the best for your business. In 7s-
framework, this analysis can help to be success your business. These are Strategy, Structure, System, Skill,
Style, Staff and Share Values are the model can be applies to many situations and is a valuable tool when
organizational design is at question.
9. Reference
 Lectures of Sayar Thant Htoo, Professional Diploma in Entrepreneurship by GSEC.
 Lectures of Sayar Zin Phyo Paing, Business Master, MESI University.
 Business Management Toolkit, MESI University
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