Assignment Sample on BUSI1692 – International Entrepreneurship
SME – John Good Shipping
Introduction –
The John Good Group is happy to have built, grown, and acquired a diverse portfolio of recognized companies in the logistics and tourism industries throughout the years. The company’s principles will always remain central to what they do at John Good. They are very ethical and legal about their business because they provide values. The organization has come a long way from the founder’s early attempts to enhance maritime safety in the 1800s to the current charity activity through our Foundation. Its trajectory was determined the day the founder, John Good, boarded his first ship at the age of 12, cementing his place in local and international maritime, logistics, and tourism history. We’re proud of the company and its history and looking forward to the future (AMITH and SAMPAGNARO, 2019, pp. 98-109). The leaders make it their mission to help people live more fulfilling lives and leave the world a better place, to run a profitable, long-term business. As a team, the company takes pride in offering outstanding service, and highly thrilled to be recognized by various industry groups and delighted to have won some fantastic accolades. From the innovation time in 1801 to today’s multi-subsidiary organization, the John Good Group’s journey is one of forging ahead, conquering adversity, creating for the future. Most importantly, the organization is acting on its beliefs. The company has a strong legacy. To commemorate it, they made this timeline filled with significant milestones from our personal history and the histories of our national marine, commerce, and tourism industries.
Capturing business opportunity for this SME –
In a broad sense, a business opportunity should be considered whenever an entrepreneur or a business user has a reason to trust that a project or product that could be of real benefit to the enterprise can be developed. Examples of this could be the procurement of new equipment to support growth, the establishment of a new supplier to carry on the business or expansion of the business operations, or the development of new business applications that will benefit the organization (CLEGG, 2018, pp. 756-783). The term business opportunity is often used to describe this type of organization. A business opportunity can be in direct marketing that can be focused on increasing customer satisfaction, sales, or any combination of these. The business opportunity depends on the market position. The business opportunity is to get as much information about a particular market. An organization’s marketing department can try to advertise and sell itself to that market. The last type of business opportunity is financial opportunity. The economic opportunity is to make a profit from selling a company’s stock. The John Good Group takes seriously its obligations to its employees, business partners, customers, the workplace, and the communities in which we live.
Source: https://craft.co/john-good-shipping/metrics
As this is a family-owned business founded in 1833, the company’s legacy and values are essential to our day-to-day operations and motivate our dedication to our Corporate Social Responsibilities. Because the knowledgeable and devoted employees make us who we are, we do everything in our power to make the John Good Group a fantastic place to work, with outstanding career possibilities and a complete benefits package (HUSSAIN, SALIA and KARIM, 2018, pp. 985-1003). The company’s human resources strategy ensures that: they recruit, identify, develop, and retain high performers. We invest in the capability and leadership of our employees, managers, and executives. The company put their culture and principles at the core of all we do. We create a competitive incentives and benefits program.
Human Resources and Health and Safety are at the heart of everything they do. We are committed to decreasing our environmental effect as part of our business strategy. The company constantly monitors and improves performance, increasing staff knowledge and training and investing in many projects. The company also help their customers reduce the environmental effect of their travel and logistics needs through reporting, carbon offsetting, and advocating alternative options. A business opportunity requires the sale or lease of any equipment that will enable the sale or lease of a business, for example, the purchase of a building or building services. It may also cover the acquisition of software or any hardware that will enable the sale or lease. A potential customer sees potential in an offering because the organization is transparent about the risks of participating. It is known as transparent risk assessment.
Business ideas for social entrepreneurship –
We need good people and capital for the growth of the business. In the case of crowdfunding campaigns, investors have had the same experience. And, we can become a pariah in that community if we have failed to meet our fundraising goals. In many cases, they succeed in creating value that is beneficial to society as a whole and their personal lives. Social entrepreneurs often come from great opportunities or some positive effect from options. Every year, we deposit a more significant percentage of our profits into our foundation to support employees and their immediate families in charitable and community activities, fundraising, and community initiatives. Since its inception, the Matthew Good Foundation has donated over £500,000 to charity organizations.
Employees can apply to the foundation in various ways to support issues that are important to them. The foundation provides a variety of possibilities for employees to give back to their communities, from monthly drawings for donations to their favorite charities to encouraging modest volunteer programs, double-matching employee fundraising efforts, and offering funding and coaching to launch their grass-roots projects. Most successful entrepreneurs get by in part by getting by successfully as an owner and coaches, which is vital for success. There are many ways to generate money as business owners and coaches. But before we decide what the best is, you need to determine who we’re going to work with.
Plans to overcome challenges –
The increasing adoption of innovative and cost-effective solutions to such challenges is expected to have a negative impact on the sector’s growth trajectory. The SMEs are smaller and smaller each year. Their growth is heavily dependent on the development of e-commerce. As the number of financial services and financial institutions has become an important challenge for SMEs, several financial services institutions have emerged as models of financial services excellence (AMITH and SAMPAGNARO, 2019, pp. 98-109). These financial services organizations provide an integrated service to SMEs and can be viewed as a model of success for SMEs in emerging markets. Financial services include financial services such as money transfer, loans, derivatives, capitalization, accounting, and treasury functions. Finance and accounting function functions and the ethics function are discussed later in this. These functions are also referred to as the firm’s ethics. Ethics is discussed in this primarily about the ethics office and related processes, but it is also included in the broader context of the firm.
We need to assess the firm’s ethical culture and comply with established principles and policies. Financial inclusion is based on the ability to meet the basic needs of people and the economy in the context of improved access to credit, a reliable financial future, and a decent standard of living. Financial inclusion is a challenge for SMEs, but the challenge cannot be neglected. The need to generate sustainable returns is a significant driver for SME growth. Reducing underserved segments in a business environment is a critical driver for economic growth. Achieving good monetary policy, and maintaining low inflation expectations, have become the primary drivers for economic growth. At the same time, monetary policy is required to keep the money supply elastic and practical.
Source: https://craft.co/john-good-shipping/metrics
The Fed’s role is to keep the monetary policy accommodative and stable through monetary easing, but monetary policy is limited by the demand and supply curves. Customers wishing to import or export to or from the UK can come to us for a one-stop-shop. As a service provider, we focus on providing efficiencies and customized freight management solutions to our customers to ensure they receive their goods on time, every time. We’ve started an intensive effort at John Good Shipping to integrate EDI (electronic data interchange) with our customers, partners, and service suppliers (HUSSAIN, SALIA and KARIM, 2018, pp. 985-1003). We understand that IT and EDI solutions are critical components of any organization in today’s world and that transmitting information at each stage of the shipping process is vital. We have more than twenty locations around the UK and offices in Turkey. As part of the giant John Good Group, they employ over 300 people across shipping and logistics, storage and distribution, and corporate travel services through Trans European Port Services, DAN Shipping, and Travel. If the strategy or infrastructure is not well thought out, there is a risk of the business not being able to access its needs in all its full potential, leading to a loss of business.
Angel investors, venture capital, and crowdfunding –
One of the biggest questions regarding angel investing is what to do about funding from venture capitalists. There are ways to go about approaching angel investment. The first approach is to choose a project we believe can do a great job of launching a successful and scalable new product and then ask yourself what you need to achieve. If we feel like we can achieve everything we need, then go for it. However, the second approach is to go back to the drawing board and decide which of the earlier strategies will affect the overall strategy for reducing emissions in the short term. If we look at the potential impacts for each strategy option, we can see some clear consequences. One way to overcome this is to create a formal process to schedule angel investor presentations. Angel investors often give presentations at industry events or events for investors, which can be beneficial. In one recent fund-raising example, Angel List, a data-analytics company that sells to big-name technology firms, arranged for about 100 investors to attend the Angel List Investors Conference.
Angel List’s Investor Conference participants had a wide range of interests to invest in a particular company or those who desired to gain some advantage of the offering. Many individuals could tell that the Angel List investors’ interest was in the stock market because they all wanted to benefit directly from its performance. If the angel investor is hesitant to invest, we may have to convince them to accept our pitch. There will also likely be a host of legal requirements to ensure that angel investors understand your company’s case before any commitment is made to fund the startup. In the meantime, however, we should be ready to accept any angel investment. Crowdsourcing will be our best friend in attracting venture capital, and many VC funds are now investing in crowdsourced business models. While much advancement has been made, there are still many obstacles in front of organizations to indeed an on-demand economy. These obstacles include creating an organizational culture that fosters on-demand, continuous delivery and rewards on-demand business models. An on-demand economy means that any organization can start its business model, and it can do so almost instantaneously.
Protecting intellectual property –
The Trade Rep. protects trademarks or proprietary designs. In general, intellectual property owners have the right to enforce their intellectual property rights over a business’s computers, networks, and information available on the Internet. When we use the Internet, the Internet service provider is responsible for maintaining and maintaining our security and privacy. ISPs and service providers must follow the requirements to avoid being held liable for users’ actions on the Internet. In addition, it is crucial to provide a mechanism for a third party to validate the accuracy of the data transmitted and control its usage (AMITH and SAMPAGNARO, 2019, pp. 98-109). However, the third party often lacks the legal authority to inspect data or provide legal liability insurance. Therefore, most commercial operators rely on third-party vendors for Internet-related software. Various issues need to be addressed. First, the data must be transmitted securely. Second, any user who believes that the data has been breached will have cause to take immediate action before continuing the data breach. Patent and Trademark Office issues a license to any company that invents an improvement, and copyright is generally protected under statutes such as the Lanham Act and copyright laws. Patents are either privately owned or belong to the government. Individuals usually own copyrights. In addition to the legal definitions, the different business use laws deal with the different types of people who may operate in space.
Market segment and the idea of business expansion –
The focus of the market segmentation strategy will be the number of units (sales), customers/sales segments (customer segments), and the customers’ characteristics and characteristics of the details. Generally speaking, the more customers the firm has, the easier it can segment. However, the fewer customers it has, the more difficult it becomes to segment. Regarding the segmentation strategy, firms are looking into the different ways to divide the market to utilize the available resources (on-line, in-house, etc.) or be more competitive in various markets (on-line, outsourced).
Source: https://craft.co/john-good-shipping/metrics
Whether or not a division strategy is needed is highly dependent on the particular nature of the company’s business and the degree of specialization. This strategy involves two key factors: differentiation in pricing and differentiation in the use of each unit within an organization. The differentiation strategy targets the differentiated product segments with differentiated pricing for specific product categories. The differentiation strategy must be considered separately from the pricing strategy to determine whether the differentiation strategy can be successful. The differentiation strategy helps to manage and control the differentiation process and achieve better results in the long run.
New products and offers that the company could follow –
A company should offer an exclusive preview of the latest products to their loyal customers to launch new products or offers. They can even run a social media context or blog post or offer a complimentary upgrade. The most critical factors contributing to the growth of the online world are its accessibility, ensuring that customers can use the tools and systems, and leveraging the knowledge available. If we can build these capabilities together, and by learning from each other, we can create a company that enables the growth of online businesses. In the beginning, it is not enough to take a business model from the drawing board into the production line. It requires a solid technical foundation, strategic vision, provision of technology, and skilled management to execute a successful operation. A good company can become a great example of this like we discuss John Good Shipping. It is not new that the best-known corporations in the world are privately held and have several employees who are either employees or part of the company. The majority of these companies are headed by people with a solid organizational structure and can generate funds from the sale of shares.
Conclusion –
While the ship and crew are in port, John Good Shipping can handle their needs and execute all essential documents and customs formalities on our behalf. One of the largest, well-known, and independent shipping agencies in the United Kingdom is John Good Shipping. The company has been the heart of the UK shipping business since 1833. The company mainly offers RORO shipping, liner agency, port agency, freight forwarding, haulage, and warehousing services to various companies in many industries (CLEGG, 2018, pp. 756-783). The organization can fulfill all of our shipping needs with offices in every major UK port, Turkey, India, and the Middle East. The company represents in many vital ports throughout the world. John Good Shipping can provide a complete end-to-end solution, including cargo handling, warehousing, and distribution. The company has earned a solid reputation for delivering high-quality customized services.
Reference
“John Good Shipping heads to Asia”. Lyolds Loading List. Retrieved 13 May 2014.
“Hull’s Finnish migration links marked with plaque”. BBC News. BBC. Retrieved 13 May 2014.
Van Loon, Borin. “John Good And… Sons (GCB) Ltd – the story of a building”. Ispwich Lettering. Borin Van Loon. Archived from the original on 26 February 2015. Retrieved 26 February 2015.
“Matthew Good Foundation”. The Matthew Good Foundation. Retrieved 11 May 2012.
“Mathew Good fund raises £35,000 for charity”. Hull Daily Mail. Retrieved 22 May 2012.
“John Good Group Features in 2014 Yorkshire Insider Growth Top 100 Awards”. Archived from the original on 27 February 2015. Retrieved 27 October 2014.
“John Good Logistics Continues Global Expansion with Opening of US Office”. John Good UK. Retrieved 1 October 2020.
Strategy formation and SMEs: The role played by strategy tools. 2019. Strategic Direction, 35(9), pp. 1-3.
AMITH, V.M. and SAMPAGNARO, G., 2019. Predicting the growth of high-growth SMEs: evidence from family business firms. Journal of Family Business Management, 9(1), pp. 98-109.
CLEGG, B., 2018. Perceptions of growth-impeding constraints acting upon SMEs’ operations and the identification and use of transitionary paths to elevate them. International Journal of Operations & Production Management, 38(3), pp. 756-783.
HUSSAIN, J., SALIA, S. and KARIM, A., 2018. Is knowledge that powerful? Financial literacy and access to finance: An analysis of enterprises in the UK. Journal of Small Business and Enterprise Development, 25(6), pp. 985-1003.
