Business Plan (Opening online shop) IN HEART Coursework

Business Plan (Opening online shop) IN HEART - Coursework Example An online shop can easily trade with these countries because there are limited international trade regulations and it can have a positive impact on the growth of an online business (Porter 1985). Inflation affects the online business because buying the product online includes various costs associated with the product, which includes shipment cost and possibility of theft in online payments. The decrease in the buying power will have a negative effect in purchasing the product online because people would be reluctant to pay online due to the increased prices (Aaker and McLoughlin 2010). The ageing population is increasing in the United Kingdom and due to which the organizations are producing the products that caters the market for old people. This indicates the social change from organization point of view (Aaker and McLoughlin 2010). Coming up with new products all the time gives a competitive edge and it leads in the innovation, which results in the growth of the company. Every product contributes an impact towards the environment. If the product of an online shop creates a good impact then it will be appreciated by the customers (Porter 1985). ‘In heart’ online shop should approach towards the license of a website in a legal manner. Forming an online shop in today’s world can be achieved for a few costs unlike the franchises that need million dollars for a startup investment (Porter 1985). In the future it is expected that many of the businesses would be transformed online because of the heavy investment associated with the opening of franchises. The concept of ‘In Heart’ online shop would target a market of millions of audience and attract the people toward its product in the span of five years if factors favor the online businesses (McLaughlin 2010). The ‘In heart’ online shop should me more focused towards differentiating its designer product from its competitors because the online shops will tend to increase in number and