An evaluation of the feasibility of setting up a public relations company called Social Butterfly PR, which specialises in the use of Social Media.
Cardiff Metropolitan University
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The aim of this enterprise project was to assess the feasibility of setting up of a Public Relations business that specialises in the use of Social Media. This began with the detailing of the aims and objectives which provided structure and guidance. Firstly, a detailed and comprehensive literature review was undertaken by the author which provided detailed background information on Public Relations industry within the UK, Social Media and its rapid growth, The global recession and business start up and survival in Wales. The author’s research was not just limited to secondary research but extensive primary research was completed with 90 questionnaires being completed by a variety of business owners. The answers from these questionnaires provided a detailed insight into the views and opinions business owners have on the subject of Social Media. They also provided the author with information regarding the pricing strategies that the business should adopt. Both types of market research helped the author create a business plan, which he deemed as the most important and challenging aspect of the enterprise project. The financial and legal information was completed with detailed and in depth research, which helped both aspects being more accurate and coherent. The author also undertook a competitor analysis, SWOT and PEST which assessed the business internally and externally on if the business would succeed. Finally, the author concluded with the feasibility of setting up this business and discussion of the topics covered.
BA Enterprise Project
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