Business decision making Essay Example | Topics and Well Written Essays - 3000 words

Business decision making - Essay Example and other external factors such as availability of suppliers are also necessary to be considered that would help an entrepreneur in successfully establishing a flower shop in the city (Fairfax Media, 2015). Sufficient workforce should be available in the particular area that would help in conducting the business in an effective manner. Moreover, there are factors that include effective promotional activities and good customer support are recognized to be vital for attracting the customers towards the flower shop, which will be beneficial in creating customer loyalty, which in turn will assist towards long term sustainability of the flower shop. There are various flower shops in the UK operating successfully and an increased demand has been observed in the market segments of Coventry city. In this respect, the growing demand for flowers in the country is providing a great scope for the entrepreneurs to establish flower shops in order to suffice the demand of the people (Warwickshire O bservatory, 2015). Feasibility report is generally used for evaluating the probability of the success of a particular project or business that is being planned to be launched in the future. It is therefore, the result of detailed analysis of a proposed project, business or idea for determining whether establishing such venture would be successful or not. A feasibility report also examines the readiness of an organization for ensuring that internal capabilities are capable enough to commence a new project or business. In case, if an organization or an individual is not capable of carrying out the new business planning, a contingency plan is being provided in the feasibility report that would help to overcome the adverse situation. Contextually, in this study, the feasibility report would help the flower shop owner to obtain a detailed outlook about the environment and the rate of success if the flower shop is established in Coventry city, UK. The report would be serving as an important