Case Scenario: You are planning to open a new business in Oman. The proposed business could be a sole trade or partnership form of business. The firm should be based in a service industry. The proposed business requires key aspects, like capital, human resource, cost planning, risk management, etc. The proposed business will be based on a forecasted cost behaviour of 5 years from now. Key cost components could include variable cost, fixed cost, mixed cost, etc. Introduction requirement of the assignment: Provide a suitable name of your proposed business. Mention clearly the capital required (debt / equity) for the proposed business. Also clearly state the type of industry targeted in your business plan. Task 1: What do you understand by value chain analysis? Provide suitable example to support your definition. (LO 4.1) Task 2: What are the implications of Porter's value chain analysis on your chosen industry type? (LO 4.2) Task 3: Critically examine various components of Porter's value chain for your proposed business. Use in text referencing to support your arguments. (LO 4.3) Task 4: In terms of current economic and industrial scenario, analyse the firm's value chain and environmental variables influencing the same. (LO 4.4) 3 Task 5: Briefly discuss the financial regulations applicable for a service industry. (LO 7.1) Task 6: With reference to your service firm, identify various cost parameters influencing the chosen organization. (LO 7.2) Task 7: Calculate and project various cost components, reflecting cost, volume and profit components of your chosen firm. (LO 7.3)