Bus305 : Entrepreneurship And Small Assessment Answer

Answer: 

The four selected different types of entrepreneurship are advisory company, restaurant chain, banking and recruitment services (P1). These businesses greatly differ from each other and are varied in terms of impacts on the economy. The major difference is based on operational and market structure. Moreover, the most important difference lies in the context in the type of goods and services provided by these firms and the different target markets in which they operate. However, the major similarity is regarding the importance of customer service and contributing to the growth of economy (P2). All of these firms are concerned with contributing to the overall Gross Domestic Product of the economy in which they operate. Kantar as a firm is concerned with providing consulting and advisory services to all these firms as they try to diversify their areas of services and tries to provide the best possible forms of advice to firms belonging to different types of industries and operating at different scales.

Kantar is one of the market intelligence and entrepreneurship advisory companies that is working with a number of companies in various fields. The clients are mainly from the field of venture analysis and market intelligence. Entrepreneurship advisory is very important in the present times because of the increasing trend of entrepreneurship in the market where most of the new professionals are wanting to test their hands in entrepreneurship. Kantar is in fact one of the largest insight, consultancy and advisory firm. Although there are tough competitors in the market like Nielson and Ipsos, this firm has always remained static in terms of increasing market share and increasing the profit generation capabilities of the firms they provide services to.

The Yelp restaurant is one of the restaurants that is situated in London and is working as a subsidiary of Yelp Chain (Yelp 2018). The Chain is situated in the various regions of Edinburgh, Glasgow,

London, Manchester, Leeds, Belfast, and Brighton. The restaurant has been influential in lifting up the night spirit of the area. The business has improved the food and beverages industry and the hospitality Industry. The chain of restaurants has reestablished the idea that the small business can also can have a successful economic operations if dedication and innovations are managed alike.  This business is further trying to diversify its areas of services and move into providing other kinds of services. The services rendered are through ventures like salons and night clubs. Though, a very small venture that has started off only recently, it has been able to build a strong brand image and trust amongst its group of customers. Yelp as a firm also tries to connect customers to different types of other restaurants and relaxation ventures as per their needs and demand patterns. Hence, the firm is able to contribute to the economy in a very customized and differentiated manner. It caters to the price and other requirements of the consumers and helps in generating decisions which are opinionated and well informed through the usage of disruptive business models.

  One of the important organizations that has taken place in the brochure is Wearewiser recruitment solutions. It helps in generation of revenues for all the firms where it helps in recruitment and hence contributes significantly to the GDP (Wearewiser.com, 2018). Due to this reason, start-ups are important for the growth of economy (P4). New professionals and newly passed graduates in management are all looking for jobs and the companies are looking for professionals with the required zeal. This firm is innovative in the sense that it tries to match the skills acquired by the young generation in the United Kingdom and helps firms that are in search of these skills and talents, get the right fit of employees. This firm thus plays varied roles in providing jobs to the most important part of the workforce in the country and also helps in increasing the total amount of employment in the country. This firm is thus different from the role it plays in terms of impact on the economy from Yelp.

One of the most famous financial advisory firm Barclays provides financial advice to the various agencies in the United Kingdom which has helped in boosting the economy of the country to a considerable extent (Home.barclays 2018). It has helped in increasing the investment of the region by active consultation. The profit of the individual firms has also increased along with the revenue of the whole market (P3). This firm has an experience of almost 325 years and that itself explains the expertise and excellence portrayed by the firm in its services. It provides the best investment decision advisory in the world. It helps in creating opportunities of expansion and growth for other firms and hence grows itself as a firm too. The firm has also completed various acquisitions which has helped the firm to increase its size and hence impact the economy in a bigger way. It helps different firms operating in the same economy where it operates by providing services in the fields of investment management, personal banking, corporate banking and wealth management. The firm has a played significant role in providing the best advices and timely services to its clients both before and during Brexit. As a matter of fact, the firm has always played a very important role indirectly in maintaining trade balance of the country.

Thus, to conclude it can be asserted that all the three firms that Kantar as a consultancy firm provides services to are very different from each other in terms of products and services. This is why they impact the economy in different ways and at different scales depending on the scale at which they operate. However, it is also found that all services are also similar in terms of the fact that they maintain extremely stringent and courteous customer relations and are concerned with growing their own businesses depending on the growth of the clients they provide their services to.

References:

Home.barclays. (2018). Our Purpose and Values | Barclays. [online] Available at: https://www.home.barclays/about-barclays/barclays-values.html#service [Accessed 21 Oct. 2018].

Yelp. (2018). Restaurants in London - Yelp. [online] Available at: https://www.yelp.com/c/london/restaurants [Accessed 21 Oct. 2018].

Wearewiser.com. (2018). Wiser. [online] Available at: https://www.wearewiser.com/ [Accessed 21 Oct. 2018].