-Write an Industry analysis
– The business talked about it WOMEN CLOTHING RETAIL
– follow the instructions to write your paper, DO NOT miss any of the items mentioned in the instructions.
– the main body of the business plan begins by DESCRIBING THE INDUSTRY in which the firm intend to compete. this description should include DATA and information about various CHARACTERISTICS of the industry, such as SIZE, GROWTH RATE, AND SALES PROJECTIONS. It is important to focus strictly in the business industry and not its industry and target market simultaneously. Before a business selects a target market. It should have a good grasp of its industry- including where its INDUSTRY’S PROMISING AREAS are and where its points of VULNERABILITIES are located.
– Industry structured refers to how CONCRATED OR FRAGMENT and industry is. Fragmented industries are more receptive to new entrants than industries that are dominated by handful or large firms.
– You should also provide your reader a feel for the nature of the PARTICIPANTS on your industry. Issues such as whether the major participants in the industry are INNOVATIVE OR CONSERVATIVE and are quick or slow to react to environmental changes are the types of characteristics to convey.
– You want your reader to visualize how your FIRM WILL FIT in or see the gap that your firm will fill.
– The key success factors in an industry are also important to know and convey. Most industries have 6 to 10 KEY FACTORS in which participants must establish COMPETENCE as a foundation for competing successfully against competitors. Most participants try to then DIFFERENTIATE themselves by excelling in two or three areas.
– INDUSTRY TRENDS should be discussed, which include both environmental and business trends. The most important environment trends are ECONOMIC trends, SOCIAL trends, TECHNOLOGICAL advances, and POLITICAL and REGULATORY CHANGES. Business trends include issues such as wether PROFIT MARGINS in the industry are increasing or declining and theater input costs are going up or down.
– The industry analysis should conclude with a brief statement of your beliefs regarding the lLONG-TERM PROSPECTS for the industry.
– you should make use of graphs to indicate the grow.