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Swott Analysis Examines The Internal Ans External Environmental Forces And Trends To Consider When Opening A Business

1051 words - 4 pages

SWOTT Analysis: Candy BusinessThis paper examines the internal and external environmental forces and trends to consider when opening a candy business. This paper will look at the legal and regulatory forces of a sole proprietorship and social external trends to consider. The internal forces and trends that will be analysis are strategy, structures, goals, culture, and leadership.Legal and regulatoryThis business is going to have a sole proprietorship which means that the candy shop will be owned by one individual. This will leave the owner responsible for all the legal and financial liabilities of the business. Sole Proprietorships are probably the simplest and cheapest forms of business organization. They do not require registration with local, state or federal governments (other than taxes and special regulatory agencies). They are businesses which have one owner and they do not have stock. The sole proprietor owns all assets and is responsible for all debts. If the business cannot pay its bills, creditors can sue the owner to collect. The company does not conduct legal or contractual transactions, rather the owner does. Advantages of the sole proprietorship include:•Ease of formation - no legal registrations•Low overhead - income reported as ordinary income to the owners. Taxes tend to be straight-forward•Easy control and direction established by the owner - no boards or advisors.•Suitable business form for many types of products, services and enterprises (Sole Proprietorship, 2008).Being a sole proprietor means that the owner will need watch their competition to make sure that they do not lose customers to the competitions that also sale sugar-free candy. Sole proprietor also means the owner assumes all liability risk.SocialThe candy business will work to promote a healthier environment by advertising their sugar free candies more then regular candy. But they are in the business to sale candy; this will also give their customers an opportunity to make a healthier choice when it comes to candy. The candy business will sale their candy online, to ensure the safety of their web site orders, credit card numbers are never stored. The information is never sent to a database to retain the information. The only information that is kept is customer names, addresses, and emails so that they can follow up with customers if something goes wrong with their purchase (Van Otis Chocolates, 2005).StrategyThe proposed candy business has a very unique business strategy because of the specialized product that the business sells. The candies sold are considered to be top of the line product that is only available in certain stores, which keeps the stature of the candy high. The candy business has centered sales around the sales of their sugar free candies for those people who love candy, but need to watch their sugar intake for different health reasons.StructuresThe candy business will operate both as a brick and mortar business in a mall and...

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