Contemporary Theme

Introduction

This report is about the contemporary themes module which has explored on the certain subjects.
Initially, during this report, imaginary business has set up and is based on several case studies.
Firstly, imaginary company or business has established with the start-up budget of £20,000, and has
mentioned the industry, target customer, and business model. Further, research has conducted
which includes both primary and secondary. After being able to employ the employee in the
company, equality and diversity law has studied. At the end of the report, ethical dilemma and
various business assets, liabilities and expenses and gains has mentioned.

Task-1

On the given budget of £20,000, online business has selected as this sort of business is considered to
be most potential business at the very present moment if everything goes per plan. With that money
it is hard to establish any big companies or business firm so online business would be perfect. Online
business contained under the e-commerce industry where transaction will be operated through
online order and then deliver them to the customer. E-commerce business has chosen as people
nowadays, are very busy and don’t have enough time to purchase the products and services as they
have very little time and they prefer to order online. The business is name will be busyeasy.com
where customer can visit or customer will directly visit the stores. Business will be located in the
Southampton and only one store will be hired at low rent as there is low fund available. Products will
be acquired through the contact with wholesaler and dealers. During the first stage, only some
quantity of products will be purchased from wholesalers and product which are on trend and liked
by targeted customers. With the help of efficient marketing plan, products will be sold and profit will
be acquired. As there is already very intense competition in the online business, profit margin will be
kept low so that to attract more customers.

Targeted customer for the e-commerce business will be within the age of 25-35 only as they
are very busy in the job and want to shop online. Both women and men are targeted for as potential
customer for the business with low and middle income level people. All the profit amount will be
invested for the further expansion of business and increase the marketing activities. Every business
firms required the proper visual identity so that customer of the business will recognize it as
promptly as they see it. So business will be set by proper logo and logo as choosing wrong
combination can have reverse effect. Color psychology is one of the fields of interest for all the
business people while selecting the color logo as it signs that colors impact emotions and
behaviours. For the business, yellow color will be selected as yellow color is considered to be color of
cheerful as it is because sun is bright and yellow. In the business logo and around the background of
online sites of business will be spread with yellow color 1. As the business has focused within the age
of 25 to 35 years of age, logo of the business will be related to something that will attract the
targeted customer. When the business will grow and fully developed then more employees or staffs
will require who need to be treated properly and effectively and as expected from them. 2 When
business grows employees from different age, religion, place, culture, they need proper care and
inspiration so that they provide their best to the business. As firms required the equality and
1
http://www.dirigodev.com/content/uploaded/colortheoryinfographicpage3.pdf
2
https://www.huddnewcoll.ac.uk/files/files/EandD.pdf
diversity, there will be proper communication with available employees that helps to make friendly
with each other and know their interest and identify what they are expecting from business.
Employees these days are considered to be one important aspect and assets so they need to be
treated nicely. There will be no gender violence along there will be equal treatment for both men
and women in terms of the salary, and other basic facilities. As business is online oriented rather
than manufacturing, it doesn’t engaged in environment degradation still business will help te
community, set human rights, recycling products and so on. Business will never promote such
activities that affect the environment rather it will promote green activities.

Task-2

For the growth and development of the business, both primary and secondary market research will
be conducted to acquire the various data, knowledge and information and later convert them into
decision making and policies. Primary research will be conducted for the different purpose as this is
first time research method by the researcher and they are likely to have factual and reliable
information only. For every business to be successful and developed, primary research is required
even after the commencement of business. Primary research will be formed with various firms and
will be conducted through telephone calls, emails, survey, questionnaire, online polls randomly from
targeted customers. Various information will be acquired through the primary research method
regarding customer, current number of online organization and so on. Along with primary research
method will also be applied in the business before and after its commencement. Secondary research
method will be conducted at the certain point of time for the different purpose of making decision
and policies. As given budget is low and time is also the barriers so secondary research will also be
applied considering only reliable sources. The main reason behind using secondary research method
is because it removes the limitation of primary research. With the use of both primary and
secondary properly, various information and data can be acquired and use them in the later for the
decision making. Government agencies, trade associations, other business report and other reliable
sources will be used at the time of secondary sources to know information on number of online
customer, number of online business and so on. As an online business required the both qualitative
and quantitative methods to be successfully make plan and policies. Quantitative research method
in the business is related with numbers. This will help the business as using mathematic analysis and
data to shed the light on significant statistics about business and market. These sorts of information
and data acquired through the method such as multiple choice questionnaire. Likewise, qualitative
research method will also be used to not as number rather it will be as peoples and different
opinions about business. This will be done through asking questions one by one or groups of people.
This will study is important as this help to acquired the customer opinions, values and beliefs as this
involves in the small sample size.

Task-3

As the business progress and grew, there will be more employees in the firms who will be there from
different places so the culture could be different. Even there can be language barriers to the
employees as different place or country people speak different language. Business can also have
employees of different gender e.g. male and female. There are people from various religion as
employees can be Christian, Muslim, Hindu, Buddhist it doesn’t matter because main focus on the
selecting best, skilled and capable employees only. In many organization, it is heard that employees
are sexual abused or harassed by the staff or owner of the business. In my firm, employees will be
treated equally and properly regardless of gender, ethnicity, religion, race and so on. For the proper
and reasonable treatment of available employees and staffs in the business, employee’s act 2010
will be followed. There will be no harassment on the employees by anyone or no one will be treated
or behave badly in terms of their race, ethnicity, age, or religion. As in the given law by the UK
parliament, employer must be considering making reasonable adjustments for disabled employee.
Further, men and women working full time or part time have right to equal par which is said as sex
equality. Thus, organization will attempt to provide the equal payment for both men and women
working full time and part time employment.

Moreover, at the time of recruiting the applicants, some of the heath related questions will be asked
to them as it is helpful to determine if the candidate or applicant can carry the function on the given
role and position and take positive action to assist disabled people. UK has issues the various act
such are sex discrimination Act 1975, race discrimination Act 1976 and Disability Discrimination Act
1995 which the firm management will proper review and follow them strictly.

Task-4

There is big issues regarding the decision on choosing either promoting the online business through
popular website at the same time, company has accused for discrimination, bullying or harassment
of staffs in the company by the management team. There is huge advantage of choosing such
company for the promotion as that can benefited the company to increase the popularity of
business as it has target audience of thousands of people and has great chance of growing and
developing of business. Simultaneously, there is huge risk for the company because that company
has accused for such unacceptable actions and can be effect on the brand of company and
demotivate the employees and staff of company. It would be better not to choose that company
whose status is already been crashed for such activities because there are other several other
options for the promotion. Company most valuable assets are employees along with company
brand. It is obvious that company promotion is essential part but most important thing is to keep
happy and inspired employees and make good and permanently proper brand of the company. As it
is said that it took many efforts and labour to be successful and create proper brand of company but
simple mistake can cost company more than anything else. Online company acquire many options
for the promotion of their business rather than targeted one while other might not be as effective as
this one still we have to look at firm’s brand and employee’s satisfaction and commitment. Without
satisfied and motivated workforce, company cannot perform anything properly and productivity of
firm also decrease as a result impact on the company brand. In one case famous company Google
Company face ethical dilemma with legal issues in China while searching specific things with Chinese
language that shows nothing in the search engine because of censorship but according to Chinese
law they weren’t allowed to do such and they reverse the decision. Thus, it is better to follow the
legal aspects most of the time rather than being connected with corporation’s policy.

Task-5

As this business concerned with the online transaction its assets, liabilities, expenses and gains are
also bit different from other manufacturing company. Main assets in the company are different as
domain is one of the main assets in the online business along with other various assets. Domain is
something that is not what we buy but it is something that is rented from the specific dealer and
registers it and after certain time it will be renewed. Along with that website hosting, website
access, email accounts, advertising and social media accounts, customer relationship management,
stores, available products of the firms, inventory and other are main assets in the firm. For every
business to be conducted, different liabilities are acquired. Liabilities can be short term and long
term in nature. As short term liabilities of online business is sales taxes payable, payroll taxes
payable, and long term liabilities of the firm are considered to be long term loan which are likely to
be paid in more than one years. Liabilities are generally considered to be the important aspect and
are payable in certain period of time according to nature of liability. As online business operator has
different liability with supplier as products are purchase on credit so they should be paid later or
according to the agreement. There are various expenses that online business acquired before and
after commencement as they are permits and licensing, equipments and maintenance, domain
hosting, software and platforms, utilities and access, various transaction costs, professional fees,
insurance, marketing and advertising are the important aspects of online business. As on the given
budget these will be the main expenses as after the success and growth of the business could
acquired various other expenses. After the establishment and sales of the products there will be
various revenue and gains in different forms. Revenue or gains of the firm can be service revenue,
sales revenue, and interest income and so on.

Conclusion