1 and 2 have been answerd please answer a and b regarding the answer below with (1500 word)

Students are required to select one industry that you are passionate about as you are likely to consider starting a business in the near future in Malaysia. You are required to prepare the business analysis for this upcoming venture.

Task assigned: (1500 word)

1. Introduction

Briefly explain the selected industry that you are intended to start your business venture with relevant justification.

*Should include a brief information about the type of business industry you have selected. Create the vision, mission & goals statement to your business.

2. General Environment Analysis

Describe the general environment factors within your selected industry. (4 factors)

(20 marks)

1. Industry Analysis

Industry attractiveness determined by interaction of 5 competitive forces. Explain the FIVE (5) Competitive Forces toward your selected industry. How does it (the model) assist in identifying the opportunities and threats that your company would faces?

(40 marks)

2. Competitive Strategies Analysis

According to Porter Generic Competitive Strategies, discuss which strategy is the best alternative for your upcoming business to implement in order to gain effective competitive advantage. Provide suitable justification and support your answer with relevant examples.

*Choose ONE strategy based on Porter Generic Competitive Strategies

*You MAY include article to justify your statements.

(20 marks)

(Total: 100 marks)

Introduction:

1. The industry selected to start a business is in the hospitality industry.

Malaysia is a place for tourist attraction. A lot of people visit Malaysia and have to eat outside which will be beneficial to our business. It is also considered as a common practice where people usually eat outside rather than making food at home. So we are planning to open an Indian restuarant in Malaysia. There are many Indians residing in Malaysia, including Indians also visiting Malaysia as a tourist place. It is commonly known that people all over the world like Indian food and also feel that Indian cuisine is very flavourful and tasty. Taking all these reasons, we can plan to open up an (Indian) restuarant. It can be a way to make the Indians who live in Malaysia feel like home and also to make people of other nationalities get a feel of what Indian food tastes like.

Food industry is one of the fastest growing industries and it may be profitable to start a business in the food industry. People are moving from the old ways of making food at home to eating out, due to their busy schedules and changing lifestyles. Now a days, due to a lot of restuarants being opened, there's a lot of competition. So, we should focus more on customer targetting and market segmentation and use effective measures to create public awareness to your restuarant. We should also search for better suppliers who offer raw materials at a lolwer rate to keep your prices at a reasonable price which will still help you to reach your target profits. We should also encourage customers to leave good reviews and leave a good online presence because now a days, customers browse about the place and see the reviews before visiting a place. The main focus in the restuarant should be customer service. The happier you keep your customer the more customer loyalty will be maintained.

Name of the restuarant: Desi Magic

Our restuarant is an Indian cuisine, restuarant serving healthy and tasty North Indian food along with fresh fruit juices. We provide table service as well as buffet system. We offer both veg and non-veg options.

The main aim of our restuarant is to ensure that our customers are happy and satisfied with our varities of food and drinks.

Our vision: "To win the hearts of our customers and to be the number one in the food industry"

Our mission: "To give the customers, a taste of India"

Our Goals:

• To offer the best Indian food in the industry.
• To ensure hygeine and cleanliness.
• To keep the customer's health at the top most priority.
• To keep improving and exceeding our customer's expectations.
• To meet our customers' demand.
• To offer the best service to our customers.
• To be as eco-friendly as possible.
• To meet CSR activities to the maximum extent.

Environmental Analysis:

Political factors: The role of government plays an important role in the success of a restuarant. Government's decisions on taxes, etc plays a major role in the running of a restuarant. Food and safety regulations will play a major role in deciding our restuarant's policies, practices etc. Also we should keep in mind the maximum working hours of a worker as well as should meet the minimum wages for the workers.

Economic factors: People's level of disposable income has increased and also the people's mindset of eating outside food has increased in the past years have been beneficial to resutarants. The increased level of disposable income can also allow restuarants to increase prices of their menu items. But, this also means that we have to offer better wages/salaries to the workers.

Technological factors: The improvement in technology is also a factor affecting resutarant businesses. Accepting online payments, enabling a paperless menu, by using a self-service food ordering machine (Kiosk), using special softwares to keep a track of what table has what orders, etc. This will also reduce the amount of waiting time in the qeues, etc.

Environmntal factors: The main focus is cleanliness. Nobody wants to come to a dirty restuarant to eat food. Maintaining hygiene, ensuring clean utensils, clean kitchen for preparing the food, dividing the vegetarian and non-vegetarian food preparing stations. Restuarants should aim at going eco-friendly as possible and ensure that they maintain a safe and green environement as much as possible.