The Practice of Consultancy Assignment Sample

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Part 1: Business Analysis and Profit Feasibility

This section of "The Practice of Consultancy Assignment Sample" focuses on the critical analysis of Dusty Knuckle (DK), a bakery and café in London. Using strategic tools like the 3 Cs model, it evaluates customer dynamics, company strengths, and competitive challenges. The gross profit estimation and feasibility analysis provide insights into DK’s financial health, while recommendations target enhancing profitability through expense control and effective marketing. This part underscores the importance of aligning business strategies with market trends to foster growth and maintain competitiveness. For students aiming to succeed in their assignments, our platform offers cheap assignment help to provide expert support and guide you in producing high-quality consultancy reports.

The Practice of Consultancy Assignment Sample

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James Wright 6 Years | PhD

Task 1

Introduction

For the effective working of the business it is very necessary that the appropriate decisions are taken. It is due to the reason that when the appropriate decisions will be taken them automatically performance of the company will increase. The present study is based on dusty Knuckle (DK) which is a bakery and Cafe located in London. The study will evaluate the issues relating to the company for analysing the current situation of the business (Daniels and Wosicki, 2020). In addition to this, profit for the year ending will be estimated and some recommendations for improving the property will be presented. In addition to this feasibility of the profit target will be analysed on the basis of the different factors first term

Understanding the dynamics using a relevant strategic framework

With the help of the 3 Cs model, the company can analyse and understand the market dynamics which are necessary for the effective decision to be taken. It is particularly because of the reason that it includes the three major aspects which are the customer, company and competitor. All these three aspects are essential to be evaluated so that the actual working position can be identified. With regards to DK, the company currently has 2 types of consumers: dinner and wholesale consumers. Also, the number of consumers is increasing with the trend of more dining. Thus, the company must increase the occupancy so that more consumers can come. Also, with regards to the company, it is focusing on excellent quality and due to this, they are getting better reviews. Further, the company has stopped the online pastry system as it was not providing enough profit. Moreover, the competition within the industry is very intense and the top bakeries control almost 78 % of luxury brands. Also, the competitors, have very strong distribution channels and this needs to be increased by DK as well.

Estimating the DK’s gross profit for the financial year

Total revenue = 750000

Estimated cost= 275000

Gross profit = 475000

It is also recommended to the company that they must try to increase the profitability and improve it well. For this it is recommended to the company that they must control the expenses so that the overall profit can be increased. Moreover, when the effective marketing will be done then there are chances of increasing the profits.

Feasibility of profit target

The estimated feasibility of the profit target of the company is effective. This is particularly because of the reason that the revenue projections were based on the current market changes and trends. Thus, as a result of this it can be stated that the current revenue projects are effective and will be assistive in managing the work well (Appolloni et al, 2021). In addition to this, the country's current political and legal condition is favouring the Bakery industries and will ultimately benefit the company in enhancing the profitability of the company. Along with this, the company is also using the latest technology relating to the product and its packaging. Hence, as a result, it will definitely assist the company in attaining the targeted profit. If appropriate target profit is attained, then it will be beneficial for the company to maintain the competition. Thus, as a result of this, the overall growth and development of the company will take place.

Recommendations

Further it is also recommended to the company that they must effectively try to make the changes into the working strategy according to the latest trends. It is particularly necessary because when the company will be effectively researching into the market then they will come to know about the recent changes and accordingly all the work will be planned. In addition to this it is also recommended to the company that they must effectively analyse strategies of the competitors. This is particularly because of the reason that the competitors have a strong distribution channel (Jewell, Jewell and Kaufman, 2022). Thus, it is mandatory for DK that they must effectively evaluate competitor’s distribution channel. In case distribution channel will be improved then automatically the overall working will be enhanced. Hence, it is recommended to the CEO of DK that they must effectively try to improve the current working efficiency so that the overall working efficiency can be improved well.

Conclusion

In the end it is concluded that the estimated profit is near to the expected profit percent. Hence it is beneficial for the company to effectively follow the strategies which they are using so that the profit of the can be attained.

Task 2

Overview of market entry framework to be focused

For the effective planning of the market entry, the market of packaged food manufacturing will be evaluated effectively. All the past trends and future projections will be outlined and evaluated before entering the market. For the market entry framework, compliance with the joint venture is beneficial (Kifokeris and Koch, 2020). This is because of the reason that the joint venture is beneficial as when the objective of the venture is fulfilled then the venture ends. Thus, the company needs to go for the joint venture as the market entry framework.

Conducting the analysis and gathering the data

After deciding the way to enter, all the research will be conducted. This will include the analysis of the existing trends and marketing patterns so that appropriate strategies can be formulated. This is necessary for the reason that when effective market research is done the company will be in a position to analyse the existing working patterns and also this will guide the company to make the strategies before entering into the new market.

Situational analysis

For the successful working of the company, an effective situation analysis must be conducted. It is majorly because this situational analysis assists the company in analysing the opportunities and threats which are faced by the company. With the analysis, it was evaluated that the major opportunity for the company is to capture the new market of packaged food. Thus, this is an opportunity as the product range of the company will increase.

In contrast to this, the most common threat which the company can face in the external environment is intense competition. The competition within the environment is high and this can affect the working strategies of the business to a great extent (Hansen et al, 2020). Along with this, another threat that the business can face includes the changes in the needs and preferences of the consumers.

Calculations

I project growth rate between 2021 and 2025

Project growth rate = (targeted future value – present value) / present value * 100

= (550 – 350) / 350 * 100

= 200 / 350 * 100

= 57.14 %

Expected annual growth rate

Annual growth rate = (ending balance / beginning balance) ^ 1/n – 1

= (550 / 350) ^ 1/5 – 1

= (1.57) ^ 0.2 -1

= 1.10 -1

= 0.1

% with which revenue needs to grow

= 350000 / 950000 * 100

= 36.84 %

With the evaluation of the profit rate it is evident that every year the company has to earn the profit of 36% in order to achieve the revenue target set the company

Part 2: Market Entry and Consumer Behavior Analysis

Part 2 explores market entry strategies for the packaged food manufacturing sector, emphasizing the benefits of joint ventures. It underscores the significance of thorough market research and situational analysis to identify opportunities and threats, including intense competition and shifting consumer preferences. The section also interprets consumer behavior data through statistical methods like binomial and chi-square tests to understand loyalty app usage and repeat purchase patterns. This comprehensive approach equips students with practical knowledge for strategic decision-making in business consultancy contexts.

Interpreting table 2.1

With the evaluation of the proportion of people using the loyalty app, it is clear that the majority of the people are not using the loyalty app. It is particularly because of the reason that out of the total sample, 55% of them stated that they do not use the loyalty app. At the same time, the remaining people indicated that they used the loyalty app. Thus, with the help of this finding, it is evident that the loyalty app is not preferable by all people.

Interpreting table 2.2

With the help of the binomial test table, it is clear that the significance value is 0.001 which is less than the P value. This simply implies that the alternate hypothesis is accepted. The hypothesis states that the proportion of consumers making repeat purchases is different from those who are using the loyalty app and those who are not using it (Weiss, 2023). Moreover, when consumers are making use of apps then they prefer to make more repeat purchases.

Interpreting table 2.3

With the analysis of the chi-square test, it is clear that the alternate hypothesis is accepted. This is due to the reason that the significance value is 0.002 which is less than the actual p value of 0.05. Thus, with this is can be stated that the alternate hypothesis is proved correct rejecting the null hypothesis (Herrera et al, 2023). It is particularly due to the reason that currently in the case of the supermarket the loyalty app is used by greater than 50% of the people.

References

Books and Journals

• Appolloni, A., D’Adamo, I., Gastaldi, M., Santibanez-Gonzalez, E.D. and Settembre-Blundo, D., 2021. Growing e-waste management risk awareness points towards new recycling scenarios: The view of the Big Four’s youngest consultants. Environmental Technology & Innovation, 23, p.101716.
• Daniels, M. and Wosicki, C., 2020. Wedding planning and management: Consultancy for diverse clients. Routledge.
• Hansen, J.H., Carrington, S., Jensen, C.R., Molbæk, M. and Secher Schmidt, M.C., 2020. The collaborative practice of inclusion and exclusion. Nordic Journal of Studies in Educational Policy, 6(1), pp.47-57.
• Herrera, D., Berglundh, T., Schwarz, F., Chapple, I., Jepsen, S., Sculean, A., Kebschull, M., Papapanou, P.N., Tonetti, M.S., Sanz, M. and EFP Workshop Participants and Methodological Consultant, 2023. Prevention and treatment of peri‐implant diseases—The EFP S3 level clinical practice guideline. Journal of Clinical Periodontology, 50, pp.4-76.
• Jewell, D.O., Jewell, S.F. and Kaufman, B.E., 202()2. Designing and implementing high-performance work systems: Insights from consulting practice for academic researchers. Human Resource Management Review, 32(1), p.100749.
• Kifokeris, D. and Koch, C., 2020. A conceptual digital business model for construction logistics consultants, featuring a sociomaterial blockchain solution for integrated economic, material and information flows. J. Inf. Technol. Constr., 25(29), pp.500-521.
• Weiss, E., 2023. Sigmund Freud as a consultant. Routledge.