URBAN OUTFITTERS

Urban Outfitters Continuing Case Study: Creating a Business



Urban Outfitters Continuing Case Study: Creating a Business

Introduction

Creating a business is always associated with a shortage of cash that at the initial stage is always needed to find office space and warehouse space, to create jobs and salaries. In addition to purchasing various equipments, if the business activity involves production, production equipment and much more are required. No, new company can make profits from the first day it opens for operation. Up to this point it may take considerable time, during which the company will have much to endure and survive in the market among highly competitive counterparts. What to say about the new business, where even large companies in various stages of development may be confronted with many challenges (Wilson, 2002). The commercial viability requires first that we identify consumers or users who can buy our goods or services. Secondly, we try to ensure where possible that some part of that potential customers will buy our product, and that through some means which we must try to predict the impact.

The first thing is to decide the good or service (or goods and services) that will occur. Also, who or who will assume key responsibilities, and if all that can arise. The fundamental role affects the ownership of the company. The creation of a company usually involves risk. On the one hand, it is difficult to ascertain whether we can offer the products we want, in quality, quantity and cost, but above all, making it more difficult to predict is whether, for a long time, we will be able to get a certain number of customers actually buy the goods or services offered. So it is said that, Setting up a business or making it work in a limited amount of time can be tough at times. Whenever the economic conditions are sound, people are more inclined to start up a business, the demand and supply ratio keeps on increasing with the passage of time (Stansell, 2000).

Analysis

Challenges of Setting up a Business

There are several aspects to consider in order being successful when it comes to creating a business. There are a number of things that are needed to be kept in mind while initializing a business setup. The challenges and barriers are a “by and part” routine in a business environment. First you need to develop the idea and a broad vision for the company. Broad vision is extremely important as you must know where the company stands after let's say 5-8 years. Then after the development of a broad vision, there must be sufficient investment. After investment, the location is crucial (Parry, 2005). This is never easy, as people might think it as a piece of cake but actually it can create difficulties as a peaceful environment is a must. Several issues come into play when establishing the foundation for starting, maintaining, and in some cases shutting down a business.

In the environment of a niche business, niche communities are seemingly ...