Project 2

INTRODUTION:Great Start Nutrition Company has been elixir which was a home remedy and it was made for special customers. The elixir was important in promoting and boosting the immune system of the body. The reputation of the elixir grew very fast because of the positive impact which it had on the health of the people. More products were developed and the demand for the product increased with time. Pfife was able to establish a manufacturing plant that continued to grow with time (Mozaffarian, 2017). The company was changed to pfife’s Elixirs and Remedies and provided the remedies to people from other regions. It became an international business and changed its name to Great Start Nutrition Company. The company focuses on assisting consumers to have the healthiest living possible and ensure that people live a healthy life. Some of the products which are produced by the company are vitamins and food supplements, personal care for individuals at a different age, protein, and fitness.PESTEL analysis of Great Start Nutrition CompanyIt is a strategic tool which is utilized in the analysis of the environmental operations of a business and overall profitability. In the Great Start Nutrition Company, It is important in understanding challenges which are faced by the company.Political factors in the company have effects on the profits and the operation of the business. Before entering the market, one has to consider the political stability of the area or of the market. Contract enforcement and legal framework for the operation of the business are also important (Nekrasov & Melnyk, 2017). The company also considers pricing regulations in different countries. Price of the commodity in one country can vary and the business has to ensure that the issue has been addressed very well. It also understands the benefits of the employees that are provided by the employers and safety regulations. Great Start Nutrition Company provides consumable goods and has the responsibility of making sure that the products meet the required standards and do not have adverse impacts on the consumers.Economic factorsSome of these factors are interest rates of the company, rates of foreign exchange, inflation rates and savings of the company. Great Start Nutrition Company uses there factors to forecast for growth rate. The economic factors which are considered in the macro environment include an economic system that takes place in different countries. Economic stability and government intervention which influence free market as well as consumer goods (Clifford & Curtis, 2016). Economic growth is also considered together with the rate of unemployment. There are some countries where unemployment is a problem and the company has come up with strategies of providing employment to some people. Skills are also important especially the one related to Packaging and processing of the products which are produced by the company. Cost of labor can influence the profitability of the business and education levels of the people in those countries.Social factorsThe environment of the business and the culture of the society has a great impact on the organizational culture. Great Start Nutrition Company is influenced by attitudes and shared beliefs of the people in the geographical area which they are doing business. Marketers have to understand the culture of the people before designing the products and the message that they will include in the Packaging and processing of the products (Anton, 2015). The power structure, the class of the people and hierarchy of the people in the society is also important in understanding social factors which might influence a business. Culture of the people in terms of the gender roles as well as the social convention has to be considered. The entrepreneurial spirit is also crucial because some of the society are important in promoting business while others may discourage the establishment and continuity of the business. The attitude of the people, health, and consciousness of the environment are also important for the establishment and expansion of the business.Technological factorsThere is a high rate of technological advancement and Great Start Nutrition Company need to understand the technological changes for the betterment of the company. Technology comes with a lot of disruptions and the company has to do technological analysis as well as try to speed most of the operational activities for the success of the business. Technology which is used in the company affects the kind of products which the company produces. The impact of the value chain structure is also a key consideration which affects the consumer goods sector. The rate at which the technology is being absorbed in the company determines the innovation and the cost structure of the company.Environmental factorsThere are different norms which operate in the varied market and affect the operational activities and profitability of the business. Great Start Nutrition Company has its operational activities carried out in different countries and there is variation in the liability and environmental laws. Examples in the United States and the United Kingdom have strict rules and regulations which ensure that companies which release waste into the environment have to pay for it (Schuetz, Mair & Schrefl, 2018). Before Great Start Nutrition Company enters into the market, it has to evaluate environment standards of the company and the existing market. The Company considers the regulation which is put in place by the company in regards to environmental pollution. Waste management which is produced during manufacturing and products of the nutritional products have to be considered and ecological products which the country value.Legal factorsBefore entering into a market in a new country, Great Start Nutrition Company considers market and overall competitive edge of the business. One of the crucial factors is employment law and laws that are related t the health and safety of the workers and consumers of the goods. Since the company deals with nutritional remedies and body fitness, it has to adhere to the health and safety laws of the country. Discrimination law is also important to make sure that all people have an equal opportunity of making the business work and ensuring operational activities are taking place as expected.SWOT analysisIt is a strategic planning tool which is crucial for the assessment of factors that have an impact on the business. One is able to understand the Strength of the business, Weakness, Opportunities, and Threats which are business can experience using a SWOT analysis.StrengthsThe brand is recognized at various parts of the world and this makes it for the business to be popular. The company has a research and development department that ensures that there is continues innovation on new nutritional and fitness products (LIU & LI, 2017). The department has professionals who are experienced have knowledge of the operational activities of the business.WeaknessA lot of time taken in obtaining materials and ingredients that is needed in making the products. Ingredients availability weakness of the company since it has to source materials from different part of the world. Cost on production can also be high especially when the new products are being introduced into the market. A budget has to be projected for the new product and makes sure that the brand is well recognized in the market.OpportunitiesThe company is operating in different demographic areas and it has the opportunity to expand to other areas. Over recent years, it has been able to expand to different countries in the United States, China, Malaysia, and the United Kingdom. The company has an opportunity to use technology in the development of new products, improvement of the products which the company has encouraging staffs to come up with new innovations.ThreatsFace competition from other companies which are offering the same products such as Alberto Culver, Amway, and Caribbean Lines. Some of these companies have already established in the market and Great Start Nutrition Company has to work extra hard for the success of the business. Limited shelf life is also another threat to the company where natural resources are not easily obtained in the market.Porter’s Five Forces AnalysisIt is used by the strategic analysts in understanding the profitability of the new products or services in the market. It helps in evaluating the strengths and the weakness of the competitors’ in the market. First is the power of the supplier and shows how the supplier has the ability to increase prices or changing the prices. Secondly, the power of the buyer which is shown by how the buyer is able to drive prices in the market. Thirdly, competitive rivalry where the competitors are diverse and have products which are undifferentiated. It has an influence on the company because sometimes it can be forced to reduce the prices of the products and this can affect the profitability of the business. Fourth is the threat of substitution where the market has products which can substitute the one offered by Great Start Nutrition Company and this can make the customers switch to the other product. The attractiveness of the market is reduced as well as the power of the supplier. Lastly, market entry threat where it is hard for a new business to establish in the market. The company keeps expanding to new countries and sometimes it is hard to penetrate in the market. Some of the threats can be economies of scale and policies of the government.Section II- Goals and objectivesThe first goal is the development of products which are safe for consumption by customers and one which is affordable. This will make sure that consumers are not at risk of developing complications due to unhealthy food consumption. Similarly, seek to develop and deliver sustainable products to the consumers. Sustainable development is very important in every aspect and ensures that company comes up with products that are environmentally friendly. Another goal is to develop and deliver the natural formula of the infants at a global level. It ensures that the babies continue to remain healthy even without the taking mothers’ milk. The last goal is delivering a marketing strategy which is good and focusing on the needs of the customers.ObjectivesDevelop and deliver a natural formula for an infant in the world and ensure that there is a reduction in the cost of transportations, errors which are incurred while shipping and ensure full compliance. Come up with innovative and sustainable ways of monitoring the trend in the market and ensuring that there is proper utilization of the resources. Time and knowledge are also valued in the organization for the success of the operations carried out by the business. Develop a marketing strategy that is clear and that assist in creating awareness of the products which the company offers.Section III-Competitive analysisOne of the competitors of Great Start Nutrition Company is Alberto-Culver. The company is involved in the production of skin beauty cares and remedies of the skin. It is an international company which makes sure that its consumers are supplied with relevant products and which satisfies their needs. Similarly, Holle provides baby food and make sure that the quality is very high (Liu, Shen & Pan, 2016). It was the first company to come up with Organic Formula and processes baby food supplements that are free from preservatives that are chemically processed. The third competitor is Gerber which consist of a natural Organic Formula and it has strength in maintaining the loyalty of the customers. Through continuous research, the company will be able to remain competitive in the market. A good relationship with the customers, creation of awareness of the brand and ensuring that there is continuous growth of the business.ConclusionIt is good to understand both internal and external forces which affect businesses and challenges which are involved in carrying out the business. Great Start Nutrition Company faces competition from other companies and has to remain more innovative for the success of the business. A business plan assists in setting objectives and goals which a company should achieve and facilitate the growth of the business.ReferencesLiu, B., Shen, X., & Pan, W. (2016). Integrative and regularized principal component analysis of multiple sources of data. Statistics in medicine, 35(13), 2235-2250.Mozaffarian, D. (2017). Conflict of interest and the role of the food industry in nutrition research. Jama, 317(17), 1755-1756.Clifford, D., & Curtis, L. (2016). Motivational interviewing in nutrition and fitness. Guilford Publications.Anton, R. (2015). An Integrated Strategy Framework (ISF) for Combining Porter’s 5-Forces, Diamond, PESTEL, and SWOT Analysis.Nekrasov, V., & Melnyk, V. (2017). Application of SWOT and PESTEL analysis in combating economic crimes and when identifying threats to the economic security of the state. Probs. Legality, 136, 193.Nekrasov, V., & Melnyk, V. (2017). Application of SWOT and PESTEL analysis in combating economic crimes and when identifying threats to the economic security of the state. Probs. Legality, 136, 193.Schuetz, C. G., Mair, E., & Schrefl, M. (2018, October). PESTEL Modeler: Strategy Analysis Using MetaEdit+, iStar 2.0, and Semantic Technologies. In 2018 IEEE 22nd International Enterprise Distributed Object Computing Workshop (EDOCW) (pp. 216-219). IEEE.LIU, X. T., & LI, J. H. (2017). SWOT and PESTEL Analysis on the Coordinated Development of New Urbanization and Agricultural Modernization in Heilongjiang Reclamation Area. DEStech Transactions on Economics, Business, and Management, (used).