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Introduction of business- Frank and Peter Yogurtology Frozen Yogurt Shop

University: The London Institute of Banking & Finance

  • Unit No: 10
  • Level: High school
  • Pages: 5 / Words 1178
  • Paper Type: Minor Case Study
  • Course Code: N/A
  • Downloads: 308
Question :

This assessment will provide certain questions which are like:

  1. Critically evaluate different types of business organisation given in Frank and Peter Yogurtology Frozen Yogurt Shop.
  2. Elaborate on the Porter five forces for Frank and Peter Yogurtology Frozen Yogurt Shop.
  3. Give the three macro-environmental factors for Frank and Peter Yogurtology Frozen Yogurt Shop.
Answer :

INTRODUCTION

This report consist the case study of the business partners Frank Jones and Peter Jackson. They owned the frozen yoghurt shop in Birmingham city. This report briefs about the type of business they own. The effect of Porter 5 forces on the business of both the partner will also be a part of this report. Factors related to micro economy based on the business model of Frank Jones and Peter Jackson will also be discussed in this report.

Evaluation of Partnership as a type of Business Organisation

The partnership between Frank Jones and Peter Jackson is more similar to general partnership.

Essence of General Partnership:

  • General partnership is very easy to create there is not any formalities of state filling is require in general partnership.
  • Documentation is minimum in general partnership only a basic agreement between the partners regarding profit shares and liabilities in the business.
  • Not any formation fees is require in general partnership. So it is low cost partnership beneficial for small businesses.
  • All the hustle related to annual meetings and others aspects such as keeping personal assets away from the partnership and others are not required in general partnership so it is more hustle free and free flowing partnership.

Based on the above mentioned facts about the general partnership the partnership between Peter Jackson and Frank Jones is more like a general partnership. Both the partners have invested the money in the business initially. The scale of the business is revelatory small because they both invested not a huge money to set up the whole business. Not any specification is done about the annual meetings in the case study. So it is convenient to specify the partnership between Peter Jackson and Frank Jones as a general partnership.

Porter 5 Forces Framework to Analyse the business and the basis of taking competitive advantage

Porter 5 Forces

Porter specifies 5 forces that can impact the businesses in the larger context of the business. These forces are:

Competition in the Industry: Competition in the industry depict all the business entities related to the frozen yoghurt and its sale. Frozen yoghurt has a potential consumer base in England so the competition is relatively high in the market for Frozen Yoghurt. Numerous outlets in the Birmingham can be seen for selling frozen yoghurt. Level of competition in the market puts a huge impact on the businesses specially to the small entities (Tallman, Luo and Buckley, 2018). Small entities gets affected very easily from the decisions of other established business organisations in that market. The partnership business of both the partners can offer the best quality of Frozen yoghurt an the most attractive price range so it can reach to maximum number of people in the market and even they can give free home delivery service to its customers so more customer base can be covered in the market by them. This force is high for the business.

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Potential of new Entrants into the Industry: Small investment businesses always carry the huge potential for the new entrants to enter into the market. This business of Frozen Yoghurt demands not heavy investment to start so the chances of the new entrants to enter into the market is relatively high based on the demands of the frozen yoghurt in Birmingham. Frank Jones and Peter Jackson can extend the business outlets in other places of the city to cover most of the consumer base (Bergantino,2015). They even can bring new varieties to the product to attract more customers in the same market. Based on the above facts this force is high for the business.

Power of Supplier: Suppliers of the raw material are always crucial for the businesses. Due to high demand of Frozen Yoghurt the competition is high in the market because of the numerous outlets and so as the number of suppliers are also plenty so the partners can deal regarding the raw material with the most affordable supplier in the market. Because of the plenty of supplier in the market this force is medium for the business.

Power of Customer: Customer is the ultimate goal of all the business organisations. All the business organisation make their policies based on the potential customer base for the products. Power of customers will always be high for all the businesses because they are the only factor behind the success or failure of the business (Fabbri and Klapper, 2016). Frank Jones and Peter Jackson can serve the best product and service to attract the maximum customer base. This force is high.

Threat of Substitute Products: Substitute products always place a big threat to the businesses. Today variety of substitutes are available for any product in the market (Cusumano,Yoffie and Gawer, 2019). Frozen Yoghurt can also be replaced with other products in the market like other ice creams and other cold products. Both the partners can provide multiple varieties so more customer base can be attracted by them. This force is always high.

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Macro Environmental Factor for the Business

Economical Factors: Both the partners can enhance the scale of the business with the help of financial resources. Extension of the business will help in connecting with more number of customer base that will be more profitable for the business and will lead to growth and stability for the business.

Technological Factors: Both the business partners can involve technology in conducting the business operations. Technology will provide a luxury to sale its product online as well (Nguyen, Newby and Macaulay, 2015). In England people are very much active on social sites so all the customers on the social sites can be approached with technological inclusion in the business.

Social Factors: Business partners can involve in social activities so it can connect with more peoples. Social awareness create a very positive impact on the image of the business and it enhance the trust in the people for the business also.

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Conclusion

This report concluded about the partnership of Frank Jones and Peter Jackson related to the Frozen Yoghurt business. This report also concluded about the Porter 5 Framework to analyse the business of frozen Yoghurt and the effect of all the forces on the business of Frozen Yoghurt. Three macro environmental factor also concluded in this report that can improve the business.

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