Sleeping Beauties Buisness Report
Sleeping Beauties ExpansionExecutive SummarySleeping Beauties (SB) is an award winning business, that manufactures hand made beds. SB has managed to grow quickly over the course of 2 years it’s operating in and now SB owner Nicole is searching for ways to expand her successful business. This report will outline goals SB wants to achieve during expansion, discuss SB in relation to the business life cycle, highlight the factors leading to the success of Nicole’s business and finally will establish the recommended legal structure for SB to adopt. It is estimated that SB will foresee rapid growth, hence, the most suitable structure to undertake is a private company to help raise funds and assist Nicole in reaching the set financial and social goals. Business Goals (Financial + Social) Financial: – Sleeping Beauties would plan to not only make a profit, they’d want to maximise their profit, by placing emphasis on their business principles which proved to work successfully by leading to quick growth for the business. With an established and acclaimed reputation SB will definitely be aiming towards maximising its growth internally by expanding the business.Social:With SB already providing part time jobs for the long term unemployed, SB will be trying to continue to be a provider of employment during future business expansionAn important goal for SB is that they have environmentally friendly practices which they manage to achieve by using only plantation timber to help save forests.SB in the Business Life Cycle
Sleeping Beauties and the Business Life Cycle:A business passes through a number of distinct stages as it develops and grows. This is referred to as a business life cycle and compromises of 4 main stages, as shown in the graph below. [pic 1]Sleeping Beauties is currently in-between the establishment and growth stage (marked by the X). This is as the business had survived the initial struggles of starting up by getting consistent sales to be based on a solid foundation presently, however, now SB is aspiring to grow and expand and is now on the brink of the accelerating its growth.[pic 2]Factors contributing to success of SBSleeping Beauties has experienced rapid levels of success within its 2 year tenure due to a range of reasons but mainly because of Nicole’s quality of her product and her ethical business principles.Ethical Business Principles SB has seen success in the market and one the factors influencing this is because of Nicole’s business principles. One of the factors which gives SB a point of difference to its competitors is Nicole’s ethical practices when running the business. SB manages to help out the community environmentally by manufacturing using only plantation timber, hence preserving Australia’s forests. Another impressive aspect of SB’s operations is that they’re recognised as a business which provides employment for those unemployed and struggling. These practices would have been influential when consumers were looking for beds in the market as they would’ve formed positive opinions about Sleeping Beauties ethics leading to more people purchasing Nicole’s products. Furthermore, with some of Sleeping Beauties competitors not always producing Australian made products or not helping out society as much as SB has, consumers would be further attracted to SB as opposed to the competitors in the market.