Entrepreneurship Assignment Example | Topics and Well Written Essays - 3000 words - 1

Entrepreneurship - Assignment Example There are several applications that can provide a better outlook while ensuring that there is the ability to receive better alternatives with the competition. By working with a consultant, there is the ability to analyze and identify the problems which are occurring in a business as well as change several aspects to ensure that easier functioning occurs. When looking at the situation with News 4 U, it can be seen that alterations in the main system will also assist with a higher profit, ability to grow substantially and will help with alternatives in the business and the needs that are associated with this. 1.1 Company Background ‘News4u’ is a family newsagent business which was established in 2006 by Tanveer Ahmed. The independent sole trader is located in Southbridge of Edinburgh. There are four members of staff to help to run the business and to help assist with the store who are all members within the family, ‘News4u’ is open daily for fourteen hours bet ween the hours of 8-10pm. The newsagents provides to their customers daily products such as News papers, cigarettes, juice, crisps, stationary and a wide variety of Scottish Souvenirs. 1.2 Problem Background There are two areas that are continuing to provide complexities with â€Å"News 4 U† one which is based on the internal environment, and one which is based on the outcome from the external environment. The internal environment is currently having issues with the staff, specifically because of the small size of the business. There isn’t the ability to keep enough staff available for continuous shopping and to meet the demands of those that are in the store. This has created complexities in keeping the shop open for a longer period of time and is not allowing customers to receive the necessary support. Parallel to this problem are also issues with the paper work, which is currently out of date, and doesn’t provide a systematic way for employees and those overl ooking the business to keep up with the changes being made in the store. The second level of problems is based on the return from customers as well as the inability to keep up with competitors who are offering similar alternatives. Promotional deals are not providing the right alternatives for those working within the store. There are also difficulties with customers that are shopping in the store, specifically because of a lack of space that is available and a layout which is not conducive to seeing the variety of items which are available. By examining these aspects, there will be the ability to change the way in which the News 4 U works and to make the return more effective from customers and into relation to the competition. 2.0 Problem Exposition When looking at the particular problems with News 4 U, it can be seen that there needs to be an alteration first in the internal environment while connecting this to more efficient means with the external