MMBB99 LDN Business Consultancy Project Assignment Sample

Module code and Title: MMBB99 LDN Business Consultancy Project Assignment Sample

Assessment 1

Chapter 1: Introduction

1.1 Introduction

This research report has been conducted with the objective of developing a business consultancy. It focuses on reflecting the importance of business consultancy from the aspect of development and improvements. This report delivers descriptive information regarding the experience of business consultancy and its impact on the overall growth and development of the business.  It can be useful for many researchers to acknowledge the reported work and derive necessary information from this report as a basis for conducting their self-research work.

The limitations of this project report can provide the opportunity to frame their research report as a guide. This research report also develops personal experience related to the work researched. It also highlights the feelings based on value correction in marketing and other vital factors that supports business development.

To establish oneself as a future industry worker or business owner only gaining theoretical knowledge from the study of books will not serve the purpose. So, it is of utmost importance to have some practical knowledge. Thus, with the objective of providing professional Experience, this research report provides information on the significance of relationship-building and industry connectedness. It will provide the service of guidance for the future industry or business owner.

1.2 Research background

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This research report provides a shorthand description of the ways of business development through the development of business consultancy. The research study is based on the VCL approach in the Clothing Brand Industry to initiate and develop the business. This project report enables the other research worker to generate informative knowledge and skills to provide a base for their research work. It also helps to evaluate the limitations of consultancy project management in the way of providing professional experiences related to the VCL approach in the way of establishing a new business enterprise.

VCL stands for Venture Creation Lab which is a combination of some informal online group mentoring and face-to-face peer review sessions to convert a new ideology or technology into a business setup that can succeed and develop to attract investors for its future growth and expansion (Acharya and Chandra, 2019, p 201). The potential business owner put efforts into identifying possible business ideas and give attention to media that reflects venture creation.

1.3 Scope of the report

It is of great fortune to mention that the scope of this research work is wide enough. It not only serves the purpose of the present objective of the development of professional experiences but also helps future research works by providing the base structure. Its scope is not limited else it serves as a guide in providing certain practical experiences to future potential entrepreneurs. It can serve as a secondary source of information for other research work needed to be conducted in the future in the same field.

It will enable the consultancy services to gain appropriate knowledge regarding the VCL concept and its importance in the field of professional experiences for the establishment of new ventures (Davidsson,et al. 2020, p 327). It also helps potential entrepreneurs and business owners to understand the importance of VCL and try to adopt in their own business setup plans. This research report also enables the students in developing basic information regarding the concept of VCL and how it works in converting business plans into real successful establishments.

1.4 Problem statements

All research reports have some inherent limitations. They’re come a lot of obstructions and issues in the way of the development of research work. This research project also helps in improving the coding sensibility of individuals which reflects that people live in both personal and professional ways. The venture creation lab provides an opportunity in aiding and predicting the potential problems that might arise during the execution of the plan.

However, the main issue generated while doing the project is it is limited to personal and professional experiences related to the project development. Also, the research data and the sources of information has generated from secondary sources especially the internet, which has its own limitations of relevance, reliability, and authenticity (Del Bosco, et al. 2019, p 565).

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The core objective of the study that is the VCL has its own limitations. Though many scholars argue to have the value of action-based entrepreneurship education programs in comparison to the primitive traditional theory and lecture-based teaching, there are certain limitations that create hindrances in its wide acceptability. Some of these obstacles are financial obstacles, educational paradigm obstacles, and incentive obstacles.

1.5 Overview of the experience

The basic objective of this research report is the implementation of VCL learning for potential startup business success. VCL is a startup as well as a leadership accelerator program. These are operated by existing entrepreneurs and industry professionals. It gives the service seekers the required skills that enable them to launch their careers in the business sector or wish to start their own businesses. Students participate in online as well as classroom sessions which help them in identifying various business issues and creating innovative solutions.

It also helps in the development of leadership skills in areas such as effective communication, influencing, negotiations, planning, research, time management, building relationships, establishing corporate connections, and so on. There arise some obstructions but overall experience regarding the preparation of the report was good enough as it delivers a lot of information about the applicability of Venture Creation Lab.

1.6 Objectives of the report

The foremost objective behind the formulation of this project is to develop in-depth knowledge regarding the applicability and importance of the Venture creation lab for the successful implementation of business in the chosen Clothing Brand industry. This report provides information to various service seekers about the importance of VCL in the conversion of new business ideas into successful business ventures in the clothing industry.

This report also provides vital information that helps in building professional experiences related to different important aspects of real business operations such as planning, research, time management, communication, leadership, target setup, negotiations, etc. It also highlights the importance of the building of relationships and corporate connections for the future sustainability and growth of the business. Overall, the main objective of this research is to identify the important implications of VCL learning in new venture establishments in the Clothing Industry.

1.7 Conclusion

Thus, it can be concluded that the scope of this study report is wide enough to provide necessary information to researchers, students, potential entrepreneurs, and other information seekers regarding the implications, adaptability, and role of VCL learning approaches in converting business plans and strategies to successful real business establishments.

It helps learners in providing necessary information regarding some key aspects of business operations. It also provides various professional experiences on the basis of the learning outcomes in establishing, operating, and expanding business in the clothing sector in real-world scenarios.

Chapter 2: Professional Experience

2.1 VCL

Venture Creation Lab or VCL is a learning program that builds people who wish to establish businesses. It matches great ideas with unique talents and provides a platform to have teamwork in order to gain professional experiences through a practical work approach similar to a real work scenario. It provides a community of similar-minded individuals who share their knowledge support and experiences (Fini, et al.2019, p 890). Any form of participation, founder or team member, enables them to enhance their capacity with respect to future innovations and entrepreneurial mindset to support your career buildup.

VCL provides an open platform to develop personally as well as professional learning experiences to build business coordination and industry connectedness. It allows the generation of business ideas regarding incorporation, operation, and expansion of business in the clothing industry. It helps in exploring the business world.  The Startup business in the clothing industry is the main project for incorporating the VCL approach. It helps in developing concepts of textile business by providing professional experiences.

Learning process of VCL

The time period set for VCL was about 8 weeks in aggregate. During this period a lot of learning and professional skills have been obtained in entrepreneurship, the building of foundation, firm scaling strategies, and so on. It provides initial information related to the selection of the market where it operates, the economy of the country of operation, organizational objectives, identification of action plans, and requirements of skills and knowledge to build industry connections and relationships.

Throughout the process, how to initiate a strong start and achieve the stated organizational objectives have been discussed. It also provides essential information regarding the skill development of managers in building industrial relationships (Jedrzejczak,2020, p 483). The collaborative learning approach helps to ascertain knowledge regarding sources of seed capital, the importance of market research on the basis of market segments, control and budgeting techniques during operations, and pricing of products and requirements for product differentiations to serve the target market segments.

For professional experiences to build industrial connectivity, developing relationships with trade unions to ensure a healthy work environment for employees have been focused. How to handle complaints and manage grievances are discussed. How to balance relationships with rivals in the same industry has been significantly discussed.

Exploit the framework of VCL.

It assists in understanding the innovative form of a proposed business establishment. It provides the collaboration of theoretical knowledge along with practical experiences in the way of establishing and running the business. It also deliberately focuses on external environmental factors like the building of an industrial relationship with the future objectives of maintaining healthy competition as well as the growth and development of the project.

The 8 weeks of practical experience helped in evaluating the learner’s personal skills and identifying the limitations. It provides suggestive measures to improve communication skills, leadership skills, motivating skills, and persuasion skills as these are the required skills a professional should incorporate within himself so as to build strong relationships and bonds among rivals and other industries in order to maintain healthy competition and preparation to open the door for future expansion of the business to different industries (Lafuente, et al. 2019, p 677).

In today’s global business scenario, interdependency among businesses operating in different industries is significantly observed. Thus, maintaining cordial relationships among peers as well as rivals will provide an opportunity for the business to maintain healthy competition within the present industry as well as the prospects of expansion to other industries.

Experience of VCL

The practice of VCL learning provides the learner with some unknown but utmost important facts following which a professional can successfully convert its potential business plan into real execution. It provides thorough knowledge from the pre-incorporation phase of the startup business till the expansion phase of the business (Pearceand Pearce, 2020, p 28).

It provides information regarding managerial skills required for managing various internal as well as external influencing factors of the business. It also provides the learner with the experience of operating in the real business world. It provides them with the necessary skills they need to incorporate within themselves to become a successful future business entrepreneur in real life.VCL proves to be a boon for potential business owners.

2.2 Information regarding VCL idea.

In order to take advantage of the opportunity, the learner devised a plan that involves proper marketing research. As the company wishes to operate in Clothing Industry, it is a much consumer-dependent industry that requires flexibility in its product design and supply chain management. The VCL initially provides basic ideas regarding the legal compliances to be followed for establishing the foundation of the business (Pruthi and Wright, 2019,p 2).

Then it focuses on choosing the right place for business operations keeping in mind various factors like potential market, resources availability, etc. Then the financial aspects have been determined which includes the requirement of seed capital, available sources of generating initial capital investments, and costs associated with different sources.

Acknowledgement of related stakeholders like shareholders, creditors, debtors, investors, employees, customers, government, society, and so on, is provided with the objective of generating information to fulfill the interest of different stakeholders later, moving to the operational functions, VCL guides learners regarding organizational structure, communication channels, group directing, leadership and motivation as running an organization is teamwork.

After making the overall structure of the organization and job, proper recruitment and selection techniques have been suggested to the learner to appoint the right people at the right place for the right job. After the completion of the structural activity, plans and decisions formulated by the professionals are considered. In this aspect, VCL provides ideological support to the professionals to make strategic decision-making.

Since the company chosen operates in the clothing industry, proper marketing research needs to be done to identify the feasibility aspect of the investment. Textile industries need to operate in a dynamic environment that is customer centric (Staytonand Mangematin, 2019,p 1166). It is greatly influenced by the trends and patterns prevailing in the market, customer’s tastes and preferences, and demographic factors like age, sex, location, marital status, occupation, etc. of the consumers.

They are also influenced by the availability of raw materials as the Clothes are made of different fibers, yarns, and fabrics and it involves a lot of steps in the manufacturing of clothes like spinning, weaving, knitting, dyeing, cutting, and tailoring, and so on. Also, since it is a non-perishable product, supply chain management is very important. It involves the availability of warehousing, insurance of the products, nearby potential markets, transportation facilities available, etc.

Thus, the decision regarding the proper place for business operation is very essential to keep in mind these aspects. VCL provides learners the opportunity to analyze these aspects thoroughly to make a strategic decision regarding location selection. Another important task of a professional in this regard is the choice of products, target market, and medium of reaching the market which is the distribution channel.

VCL helps the learner in selecting the target market by converting the heterogeneous market into homogeneous market segments and then understanding the target customers’ needs to convert their requirements into potential products. The need for product differentiation is heavily required in this industry as there seems stiff competition in this sector.

Also, there can be a number of product lines based on the customer’s age, sex, marital status, geographical location, seasonal factors and taste, and preferences. The ongoing trends and patterns also lead to a number of product differences. This will help them in gaining a competitive advantage.

VCL also helps professionals in making decisions regarding the market reach, that is digital reach or physical reach. As operation in the clothing brand industry requires small business segmentation both physical and digital reach can be adopted by the management (Villani, et al. 2018, p 183). All this information needs the management to establish a successful business.

The role of VCL does not end here. It also guides professionals in various ways to grow and expand in the competitive market. Through operating in the VCL approach in the 8 weeks of the schedule, learners generated professional experiences regarding building cordial relationships with the stakeholders and other industries to expand their operations to different industries.

They also derived various information regarding the strategies, approaches, and skills the professional need to formulate. VCL also provides concepts for developing the financial performance of the firm. It guides the management through several key aspects that requires attention to convert the potential business into a successful venture.

Chapter 3: Reaction, Thinking and Feelings Regarding VCL

a. Good or Bad Perspective regarding VCL

Considering the good and bad perspectives of VCL, it can be said that there have been numerous positive and negative about VCL which tend to be experienced throughout its application. the positive thing about that VLC allows a team to work collaboratively as designers can work together on a design. Besides that, collaboration can also aid in improving the UI, UX and which will improve the front-end development. The garment industry can use the VCL to a great extent where the technology has been developed which allows users to try garments right from their home as the 3D model allows them to try clothing and accessories virtually (Cao, 2021, p.5).

Therefore, VCL can help designers to develop applications, which would help in aiding the computer to make the system of structural design, which accurately can draw designs and model making. therefore, it can be said that VCL would allow business owners to design and combine components to build a technology that can aid in the clothing industry largely. on the other hand, the use of VCL can help clothing business owners can help designing software and products with multiple designs can aid in maintaining consistency.

VCL is also fun in the perspective of extending it since the setting up part is the hardest in a design as one need to start from scratch. however, the good thing about VCL is that one can work in a fast way as all the basic elements are already presented there. the only thing, which is needed to focus on, is the design. Apart from that, one of the things, which are also positive in a VCL, is that it allows flexibility and customization as the contemporary library help designers to stick to the guidelines of the product and has a minimal impact on development.

Ease in customization can help designers to be more flexible (Vrana and Singh, 2021, p.2). Further, a VCL could also be helpful in the way it can improve the overall design with iterations, since to a certain extent the main elements of a design are already there and the focus need to be on improving usability and readability.

Apart from that, considering the bad perspective of VCL, it can be said that, the technology is very complex for simple projects. Since the front-end framework of the library can add up many unnecessary bloats for a simple page and hence many micro site projects are not benefitted from the efficiencies of these features. Another bad perspective of a VCL is that the integration can also be stressful sometimes for projects that are highly specialized, have customized code and are out of date.

The approaches in the VCL have opinionated as it often forces the library to act differently and can reduce the potential benefits of that. The other drawback of the VCL is that certain updates can often lead to introducing bugs. Training in the VCL has also been identified as a very rigid process where it can arise when selecting a framework or a library, which requires having a specific skill set.

Therefore, it could be challenging for an organization, which is going to adopt a new framework (Orefice and Nyarko, 2022, p.17). in addition to that, the adaptation also requires having proper resources and can be challenging in the maintenance of the framework.

b. About VCL

VCL has been recognized as one of the most useful business practices, which helps business owners to develop or establish new businesses. Established in the year 2021, it displays how a team with proper strategy, tacticians and technology can support and lead a company to achieve its long-term goals (De Silva et al. 2021, p.15). It is a mix of management consultants that makes products and executes “go-to-market” strategy for different brands and new business startups, which has generated extensive revenues.

VCL has been managing global as well as domestic teams consistently. it has expanded the gamut of technology, product development, branding, marketing and many more areas. Going down deep into the VCL, it can be said that, it is a kind of virtual space designed for business owners to help them create and establish a business by composing a theory of value.

However, it does not generate any theories randomly as it engaged with managers and business entrepreneurs to develop valuable theories that can help in maximizing the ability to one for developing a valuable theory that can be therefore created (Kolade et al. 2021, p.15).

VCL also engaged with founders, students and executives, which is also critical. One of the consequences of VCL is that the focus is on beliefs regarding the future. The other perspective of VCL is that if a problem is tightly formulated and solved, it will allow them to create. Therefore, it can be said therefore, VCL can be very useful from the perspective that the contrarian theory of belief is the beginning of all the processes where how the present technology can be implemented for the future and hence for the betterment of the business around the world.

However, it is also important to understand business owners that the unique theory or thought did not compulsory to be expansive but it must be differentiated from the common belief. In order to be different from the other business and to achieve the pinnacle of success is important to create value from a business that can be completely different from others (Tabares, 2021, p.4).

The implication is not easy where having a unique thought is very difficult to be implemented or planted, as most people’s beliefs are not different from others. Moreover, a business is also highly dependent on communication and sharing thoughts with one another. Apart from that, these unique beliefs or theories are very hard to find.

 Chapter 4: Evaluation of own Experience

a. Sense of experience related to VCL

Considering then a sense of experience, it has been a unique experience working in VCL where it is based on the unique belief or theory that sets the business apart from other. Creating value requires new and uncommon theories where it could be given the face of a business to create value for society and community (Matarazzo et al. 2021, p.7). In order to create value, one really needs to see the outer world from different perspectives. Unless this has been done, one may find themselves going in the same direction in terms of strategies, assets, people and others.

Theretofore, it can lead to intense competition in the market as everyone is engaged in the same business activity where the value creation of one particular business is reduced. In the present business scenario, The belief was that using 3D models for clothing in stores can bring revolutionary change where one can try clothes and other accessories virtually (Karami and Madlener, 2021, p.12).

Therefore, it can be said that this thought has been laid off in the VCL and would expect to be a unique thought from different clothing businesses. Considering the business, it can also be said that, experience in working with VCL has been great as there have been industrial experts demonstrating how value can be created in the business from the uniqueness of ideas. In the VCL, it has been assessed how business could be improved to create value in the long term perspective.

Considering the problem, which has been experienced in the VCL, it requires transforming the thought into a well-framed problem and value creation in this respect must be viewed as a way to formulate and solve the problem. The other aspect, which came into light while working in the VCL, was that, in order to create a new value, one must either recognize or solve a problem that has not been seen by others in the business.

VCL in this respect allows a practical way to ascertain unique theories or thoughts, which can be laid as the foundation of a new idea for value creation. Companies like Apple and Wal-Mart have previously approached the same concept. Problems and sub problems can be created by articulating the core problem. Therefore, there have been many small obstacles in the way of solving the identified problems (Esposito et al. 2021, p.2).

From the architecture of the proposed business theory, it was ascertained that clothing stores have a limited area for changing rooms which makes people stand in queue for the trail of cloth or accessories. Therefore, the idea was to implement a mirror technology to which clothes and accessories can be virtually tried. The idea was to create a website to which sharing was an obvious solution.

However, the problem lies, therefore, was to solve a problem which includes providing customers with secure payment options that forces them to a casual path for generating foreseen value. Therefore, by creating a chain of beliefs, problems and sub problems, one can easily build a unique architecture of value, which can be evident to others.

b. The positive and negative impacts of the experience

The experience has both positive and negative impacts where the positive impact can be the use of different unique implementations of ideas and thoughts. The positive experience was the uniqueness of thought that has been laid in the VCL and the best part was the communication of the theory of value and rendering it into a guiding action.

The theory which has been implemented was articulated and has been found quite beneficial for expressing the theories as what theoretical part has been identified as valuable (Spanò et al. 2021, p.23). On the other hand, the experience has a positive impact on the perspective where the core problem was solved by recognizing the set of problems in the study.

The idea was certainly useful in terms of formulating well-articulated theories of having values. The idea was also different from the outdated ideas and could be referred to as a more refined idea. The idea was to create a thought, which could be framed and implemented in a business so that the business could provide value in a very different way than the other business is not providing.

The success was undoubtedly laid in the proper implementation of the idea, which was to ascertain the uniqueness of the clothing industry. once it has been decided the thought which has been implemented for the clothing industry, It could have been very important as to how to proceed with action which has again been in several categories. The theory, which has been used, needs to be subject to critical resources (Van et al. 2021, p.4).

On the contrary, to this, there have been several negative aspects of working in the VCL, which is again for the perspective as the value and theory concerned for a new startup business or for an existing business organization. One can also choose to have a thought or idea for a business to create value. The negative impact of the experience was that there has often been implemented.

There were several experiments done in the VCL which resulted in resource wastage and also it was a concern of a fact that how one or two of those experiments could be beneficial for the business. The experience has been negative also in that way, which is that the value creation lab intends to be quite different from other common approaches and also there are consequences that it, was not sure whether the unique idea would be successful in the business or not (Watkins, 2021, p.12).

The approach of unique ideas has led to rapid experimentation that was not the sole factor for the success. The fast development of the minimum viable product for generating customers’ feedback has been done.  The focus has been on the maximum viability of the product. The theories of value lab contrasted a flash to allow searching for value, which was unique and has, not evident to others. Managers and entrepreneurs have given their thoughts on the engagement of VCL where they have stressed the fact that one can learn from experiments. Therefore, one has to implement in the business in a unique way.

Chapter 5: Application of experience

Implementation and application of learning and experience

Considering my personal experience of working in the VCL, I would say that it was a very new experience for me as I was not aware of something like that. I was not even aware of the concept that a business could be laid off in that way. Though I have read various business success stories before, it was a completely new experience for me.

Since as a part of VCL, I came to learn, many new concepts related to business as how it is laid up by unique thought, which is different from other common thoughts and would have certainly been different. I came to learn how successful entrepreneurs thought and how their different thoughts make them different from each other. their thought process has been what makes them completely different from others. discussing the business perspective for them it can be said that rather than earning profit from a business idea, they stressed the fact that how the idea can create value in the business. It can be created concerning different theories (Pandey et al 2021, p.10).

The experience was something which can be cherished for a lifetime as the entrepreneurs explained as a VCL and how it can be implemented in a unique way so as to create value for the business. I have to learn so many things from the experience such as how thought could be implemented differently in a way that creates true value for the business.

Thoughts have also been also influenced me largely as I was thrilled to know how the business is meant to be different from others. Therefore, it can also be said that I would have got to ascertain the different views on the idea of implementing how value is important to create for a business, which can be differently placed in different people’s minds.

VCL attempts to focus on theories, which make a thought different from others and what has been unique in its own way. in order to be different in the market of a business environment, it is very essential to plant a seed in the idea where can be said that I have experienced how global leader influences the world with their unique ideas. Therefore, it can also be said that I have had both some positive and negative experiences working at the VCL.

I would say that positive experiences have been more since I was unaware of the unique theories, which could be used to generate ideas that would be different from other common thoughts. In my working terms used, the theories to implement how the thoughts could be given the shape of a framework and could be laid off to gain a new idea and action that can be implemented in a way, which is very uncommon and has a unique business. Therefore, in the other way, I would also like to share my views on the fact that the VCL would be a new revolutionary thing in the new business market.

Things are done in a different way at the time of VCL or placement

There were quite a lot of things, which I would say have been done differently in VCL or placement. apart from that, I would also say that there could have been different another thing such as framing an idea in a unique way so that it would make it apart from them, I would also like to express certain things that have been gone in certain other ways for things which could have been done better.

Theories have always been observed as a breakthrough in science and are not restricted to this area as in business theories too can be implemented for businesses as how it could lead to various other perspectives of businesses, which are essential in the business. It is theories, which assist the strategies to make sense of an uncertain action (Tabares, 2021, p.2).

For startup business, it is unique to have completely different ideas to predict how the business can create value for people. Apart from that, it can also be said that the implementation of the theories has been done differently as it has been a difficult process as to how it could be created differently in the business.

Different existing theories have been made used, which already helped the leaders and startup businesses to grow to the next level in business.  Apart from that, I would also say that there could be different things that can help in the development of the idea that could be beneficial for the business.

On the other hand, certain other things have been done in a different way at the time of VCL or placement, it can be said that there have been different things, which is essential for the business such as the implementation of a unique idea for an existing or new business. On the contrary, the idea was to develop a business, which could stand out in the market, apart from others. Stress has been given to the fact that how to create theories which could make a difference in the business market.

Therefore, it can be said that there have been different thoughts that could be implemented in a unique way so that a unique business could be created. Value lab, therefore, acted as a scaffolding to help in building a better business (Altman et al. 2022, p.2). The belief was, however, not intended to be expansive as one can establish a business through a unique idea and communication and thought sharing have been given priority.

Apart from that, in the VCL or placement, it can be said that how different theories can form to create a different perspective for them. In the VCL programmed, all our team has thought independently and then worked together to generate one unique idea. However, things have been done differently in a manner, which could have allowed for the business to lead to value creation out of that, Problems were categorized into sub problems and each problem has been tackled differently in the business.

Chapter 6. Conclusion

After analysis of the report of the above-mentioned program related to the VCL. Analysis of the project of the VCL program which reports on the topic of the ” clothing Brand Industry”. The various objectives and measures taken in this business give a wider variety of different taught of practical experiences of the startup business. In this learning program, it is summarised that the company could initiate various measures in relation to objective measures of the company demo evaluation of business-like environment.

Linking with objectives:

After deep acknowledgment of this industry, it is related to the main objective of this industry which comes with the different ventures and programs related to the clothing brand industry. In this illustrated findings and measures related with the company’s major objective of VCL learning and measure of the business outlook. The experiences which were incurred by the management from the “VCL” program which seeks various output results in research, time management, money management communication skills, leadership, and many other learning’s

Findings and recommendations

Findings

As per the report analysis, the program “VCL” plays a significant role in the measurement of the strength, weaknesses, threats, and opportunities of the company. The demo analysis could find many celebrate outcomes which could help in good methodologies in the growth of a business. The certain skill, a business can be evaluated from the evaluation of communication skills and different stages of marketing the business.

A new startup business quire a huge amount of capital investment and this could acquire huge money lending and borrowing to meet the rate of interest of the this high browsing a company could take up this type of program which could help the company in build up much practical knowledge that how business could elaborate.

Recommendations

  • The company should meet the need and requirement of the company and face the problem and how to solve it
  • The company could prepare different project appraisal methods which could help the company in estimating whether company could create global requirements or not.
  • In this startup business, the company could get more scope of getting an opportunity in the pricing of the increase in the price of the manufactured product.
  • “VCL” program should focus on getting sustainable development in the business.

Future scope

The “VCL” program can give a great opportunity in making understand the program and demo relation of the business undertaking and the startup company can acquire different programs related to global company programs which could achieve a level of understanding of the story of their business. VCL program of the clothing industry could initiate the experience of the illustration of the business which could be a great opportunity in having one in future upcoming future.

References

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Stayton, J. and Mangematin, V., 2019. Seed accelerators and the speed of new venture creation. The Journal of Technology Transfer44(4), pp.1163-1187.

Villani, E., Linder, C. and Grimaldi, R., 2018. Effectuation and causation in science-based new venture creation: A configurational approach. Journal of Business Research83, pp.173-185.

Altman, E.J., Nagle, F. and Tushman, M.L., 2022. The translucent hand of managed ecosystems: Engaging communities for value creation and capture. Academy of Management Annals16(1), pp.70-101.

Cao, L., 2021. Artificial intelligence in retail: applications and value creation logics. International Journal of Retail & Distribution Management.

De Silva, M., Gokhberg, L., Meissner, D. and Russo, M., 2021. Addressing societal challenges through the simultaneous generation of social and business values: A conceptual framework for science-based co-creation. Technovation104, p.102268.

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