Enterprising is a profitable but robust sector of the world's economy. Enterprising is good thinking and execution of new and challenging thing in the business world. Personally, I believe am enterprising because of the new business idea that I am doing to generate revenue since that is the sole goal for enterprising. Before enterprising, i had to consider many socio-economic and political factors that would influence the operations of my enterprise. These include potential growth, the status of infrastructure, reward to the investor, price structure, market, competition, legal consideration, management, personnel and training and finally financial viability (Timm, Christensen and Blenker, 2015).
When I was starting my business (enterprising), there was little market penetration. I had to apply the necessary skills I learned in school and master the non-cognitive abilities like discipline, punctuality and consistency to see my enterprise grow and stabilize. The first step I took as someone enterprising was to study the gaps and trends in the demand market. This enabled me to affirm the choice of enterprise I had made and to study the level of competition in the market that assisted in evaluating the potential growth of my enterprise.
Infrastructure was another critical component for my enterprise to thrive. Service delivery and the mobility of customers were vital in ensuring natural interaction with my clients and the business' products. As a result, availability of a reliable form of transport assisted my business in stabilization in the market. As someone enterprising, I had to evaluate the price structure where I considered and analysed my production possibility frontier besides the budget constraints of producing the output and how I was to price it in the market. In this case, I had to consider the total expenditure on the output against the projected profit of 30%. This analysis assisted in price structuring that would be favorable and affordable to the customers (Manimala, Mitra and Singh, 2009).
Legal consideration and obligations to tax, insurance, and license renewal was also an essential aspect of the operation of my enterprise. This allowed me to be legally operational and to serve my target group. Since my enterprise was small and beginning, I had no demand for many personnel assisting in the running of the enterprise. However, for emergency purposes, I had to hire only two who would assist in oversight and management of the enterprise when I am busy or not available. Marginally, this cut my cost of expenditure since hiring two was better than training and employing the projected four. After considering every aspect of the business, I had to compare the results of my analysis with my financial capability and viability. Even after starting the enterprise, commercial viability check assisted me to expand and cater for emergencies in my enterprise. This enabled me to absorb and arrest the unexpected economic shocks in the business and take care of the recession possibilities (Elbert, 2011).
2 Commercial Awareness
The Coca-Cola Company has holdings based in the United Kingdom incorporated in 1983. The Coca-Cola Company in the UK is a subsidiary of the Coca-Cola Company. As a subsidiary of the leading company, Coca-Cola holdings in the UK is a private company and deals with the supply, bottling, and marketing of the Coca-Cola products in the United Kingdom. In my opinion, this company is doing well due to the profits made, the number of people employed and the activities it sponsors in the UK and outside (Ghosh, 2016).
The number and size of its market share in the business market, popularity among the population and the interaction between the company and the customers, can measure a company's progress. The Coca-Cola holdings made a profit of 19% in the 2015 first quarter that translated to $3.1 billion despite the fall in sales. In the same period, the sales and revenue collected declined from $ 12.6 billion to $ 12.2 billion representing a decline of 3%. This indicates that the company is doing well in the UK (Wayne, 2012).
Another component for evaluation of this company's progress is the closeness it has with the customers and the entire population. The Coca-Cola holdings advertisements engage the locals that signify good ground stability and relations with the ordinary people. This in turns improves the company's reputation. Besides that, the company has sponsored many games form football to racing that shows the company's commitment it giving back to the society. A company that does well like Coca-Cola will give back to the community due to the revenue and profits collected. In addition, the company has extended its branches in the neighboring countries like Uruguay and the rest due to the success it has in the United Kingdom (Coca-Cola Journey, 2016).
The company interests me because of several reasons. I find this company has some similarities with my enterprise that enables me to gain confidence in my line of business. One of the reasons why this company interests me is because of its management and ownership. The Coca-Cola Company is a family company that is owned privately (Staff, 2012). Its success and growth attributed to its style and method of ownership. A privately held company thrives in business because it has unity, consistency, and longevity of its employees. In addition to this, a private company easily succeeds in enterprising due to the availability of fast and efficient decision-making. In addition, it prospers due to the presence of top leaders who last long in their positions, availability of constant quality checks and cost cut in hiring other personnel that the family members can occupy, saving on expenditure (Forbes.com, 2018). In the same line, my enterprise is privately owned hence it gives me maximum commitments and devotion in my work that will enable my enterprise to grow.
Coca-Cola Journey. (2016, December 1). Our Business | Coca-Cola GB. Retrieved from http://www.coca-cola.co.uk/about-us/our-business
Elbert, M. M. (2011). Enterprising youth: Social values and acculturation in nineteenth-century American children's literature. New York, NY [u.a.: Routledge.
Ghosh, S. (2016, January 1). Coke Life faces 'difficult' second year as UK sales flatline. Retrieved from https://www.campaignlive.co.uk/article/coke-life-faces-difficult-second-year-uk-sales-flatline/1380170
Manimala, M. J., Mitra, J., & Singh, V. (2009). Enterprise support systems: An international perspective. New Delhi, India: Response.
Staff, J. (2012, October 16). The Secret Is Out: Coca-Cola's Formula Is at the World of Coca-Cola. Retrieved from http://www.coca-colacompany.com/stories/the-secret-is-out-coca-colas-formula-is-at-the-world-of-coca-cola
Timm, K. B., Christensen, D. R., & Blenker, P. (2015). Enterprising Initiatives in the Experience Economy: Transforming Social Worlds. London: Routledge.
Wayne, L. (2012, June 30). "How Delaware Thrives as a Corporate Tax Haven". New York Times. Retrieved from https://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html
Forbes.com. (2018). Forbes Welcome. [online] Available at: https://www.forbes.com/sites/greatspeculations/2016/07/12/heres-why-coca-cola-will-not-be-sweet-in-the-uk/#29afd02753e2 [Accessed 29 Mar. 2018].
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