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Aspiring Lawyers - Applications & General Advice
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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<blockquote data-quote="CLD" data-source="post: 133734" data-attributes="member: 25473"><p>Political considerations - What are my supply chains going to be and will any of this be affected by geopolitical issues, sanctions, strikes etc. Are any of the ingredients or equipment I need going to be specifically affected by these issues and if so do I have a back up supply chain. </p><p>Economical considerations - deciding how to price products, how will I be finding this business, do I have money saved up, will this be a joint venture, do I need a loan from the bank - and if so what are the interest rates and will I be able to keep up with these payments in light of increasing interest rates. Gas and electricity prices average for the venue chosen, can I get any grants from the government as a new small business? Am I buying or renting premises, Inflation - are coffee shops taking a hit currently?</p><p>Social considerations - Hoe am I going to brand my company and what will make customers choose my brand over others - what is my USP. What time should the shop be open - research busiest times for coffee shops. Do I want to provide seating, should I offer deals?</p><p>Technological considerations - what will my payment methods be, cash, card possibility of crypto in the future, order at the desk, or on an app, or self service (like McDonalds)? Advertising of the shop and products, online, word of mouth, leaflets - go through advantages and disadvantages of these. </p><p>Legal considerations - Health and Safety regulations, allergy and calorie information now requirements, how do I want to employ people on a contract, agency, and what financial packages will I be providing. How will I manage 'tips'. Annual leave policies. </p><p>Environmental considerations - there is a big societal focus on being environmentally friendly now so positioning yourself in the market as environmentally conscious is important, recycling products,, reusable cups, giving back to the community, information on this for customers. </p><p></p><p>Strengths - a popular industry with a lot of demand. Fairly easy to deliver a good service. </p><p>Weaknesses - finding a USP.</p><p>Opportunities - potential to expand and grow like the big chains as there is demand. You can grow a loyal customer base in this industry so the potential is there. </p><p>Threats - a lot of competition and a difficult market to enter now the UK is in a recession.</p></blockquote><p></p>
[QUOTE="CLD, post: 133734, member: 25473"] Political considerations - What are my supply chains going to be and will any of this be affected by geopolitical issues, sanctions, strikes etc. Are any of the ingredients or equipment I need going to be specifically affected by these issues and if so do I have a back up supply chain. Economical considerations - deciding how to price products, how will I be finding this business, do I have money saved up, will this be a joint venture, do I need a loan from the bank - and if so what are the interest rates and will I be able to keep up with these payments in light of increasing interest rates. Gas and electricity prices average for the venue chosen, can I get any grants from the government as a new small business? Am I buying or renting premises, Inflation - are coffee shops taking a hit currently? Social considerations - Hoe am I going to brand my company and what will make customers choose my brand over others - what is my USP. What time should the shop be open - research busiest times for coffee shops. Do I want to provide seating, should I offer deals? Technological considerations - what will my payment methods be, cash, card possibility of crypto in the future, order at the desk, or on an app, or self service (like McDonalds)? Advertising of the shop and products, online, word of mouth, leaflets - go through advantages and disadvantages of these. Legal considerations - Health and Safety regulations, allergy and calorie information now requirements, how do I want to employ people on a contract, agency, and what financial packages will I be providing. How will I manage 'tips'. Annual leave policies. Environmental considerations - there is a big societal focus on being environmentally friendly now so positioning yourself in the market as environmentally conscious is important, recycling products,, reusable cups, giving back to the community, information on this for customers. Strengths - a popular industry with a lot of demand. Fairly easy to deliver a good service. Weaknesses - finding a USP. Opportunities - potential to expand and grow like the big chains as there is demand. You can grow a loyal customer base in this industry so the potential is there. Threats - a lot of competition and a difficult market to enter now the UK is in a recession. [/QUOTE]
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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