Strategies for Redefining a New Business Idea Essay

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HUNTER SAFETY LAB'S Business MODEL

Understanding Hunter Safety Lab's Business Model

This paper captures the life of hunters in America and Canada. They are known to be facing many challenges concerning their safety while in the hunting grounds. This paper suggests the best ways of dealing with the safety challenge that has been at the core of the Hunter's problems. This captures the role played by Hunters Safety Lab Company in meeting the requirements of safety. This paper starts with an introduction of the Safety issues and progress to give accurate measures that have been undertaken by the management of this company to reach out to the external markets out of Canada, the home country. Some of the issues that are handled in this case are related to the expansion of the market and the utilization of measures that revolve around market research. The market also needs to be studied with the view of estimating what the clients need so that appropriate strategies for satisfying them can be formulated. The paper objectives will be realized under explanations divided into internal and external strategies for carrying out the business plan. This will be covered under part one of the assignment and will conclusively explain every step that will be followed by the management in realizing the overall objective. These specific explanations about the internal and the external strategies will be tackled as a matter of overall concern. The roles of a manager bring the understanding that it will be possible to achieve specific targets with more collaborative efforts. The second part of the paper addressed as part two tackles the recommendations that are meant to improve the business situation. From this section, the manager will learn the specific actions that are needed at every step of the business. The paper is a guided to taking the business to another level. It explains the steps used by the management to arrive at a situation that characterizes best trade measures. The purpose of the report is to share insights on how a startup company can make it well in business. This report will seek to analyze the strengths that this business had and will point out the weaknesses with a view recommending what needs to be done.

Part 1:

Introduction

This paper seeks to point out the weaknesses that the company has exhibited in its quest to wrestle the market. In this report, the paper is structured to capture the Business model that the company has pursued, the internal and external strengths and weaknesses and then end with recommendations for better management.

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This is because the business type that is being analyzed here is a unique one. The study is a pointer to the fact that a business startup has challenges that are unique to its course. Minimum recommendations are given as a way of concluding the paper. The recommendations given at the end of it are meant to improve the company standing.

Strengths and Weaknesses of the Market Research

External Strengths

The market research was done on the understanding that people have to be made aware of the things that bring them to a focal point that meets the basics of market understanding. The aim of any such method of management is to highlight the needs of the market and seek suitable solutions can be attained. The use of the current forms of business strategies spanning the undertaking of work that revolves around the use of models that respects the importance of law and order served this purpose well. The market research done by the management of this company had some strengths and weakness that in any case were influential in the end case determination.

Externally, the market situation proved positive and welcoming. There was a likelihood that the business strategy formulated by the management was going to enable the business to make gains. The market was responsive and stood ready for the supply of the necessary trade items. There had been a long-standing demand for safety equipment at the market. The presence of such a responsive and potentially high market for the business is a sign that good things are likely to come in the business way. Those that manage to utilize such an open opportunity effectively will reap great benefits. Hunters Lab had this strength to enjoy coming from the fact that it enjoyed so form of monopoly in an environment that highly needed its products. Strengths are realized from the fact that it was going to be possible to deal with any issue of marketing that arose. Where the demand for a commodity exceeds the supply, business is likely to thrive. The case of the Hunters Lab was a pure example of how business could thrive from the fact that people wanted the products highly. The management simply had to utilize the chance and come up with a unique strategy that would have yielded the demand expected......

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"Strategies For Redefining A New Business Idea" (2015, October 21) Retrieved May 6, 2025, from
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