Leadership & Planning : Business Planning Essay Example
Assessment 1 Part A
1. Briefly review and analyze the following:
a. Business vision
The business vision is to achieve an increase in market share in the market. The business has some strategies that are in place to help the organization in achieving success in the market.
b. Business mission
The business mission of the business includes achieving competitiveness in the market through offering, excellent services, delicious and high-quality coffee to the customers. The company has developed competitive strategies that can help in achieving the set objectives in the market by offering high-quality products.
c. Values and objectives
The values and objectives of the business include meeting the needs of the targeted customers through offering high-quality products. The company ensures that the products are aligned with the interests of the customers to make them satisfied. Café Paradiso plans to achieve an increase in the number of customers to grow its market share by 40%.
2. Who are the key stakeholders in the business?
The key stakeholders in the business can include the customers, government, suppliers and the business owners. They all have different interests that need to be considered in the process of making business decisions.
3. As the owner of the business explain how you would communicate with the stakeholders?
As the owner of business, I would communicate with stakeholders by making use of social media. It is through the use of the social media that I can be in a better position to communicate the objectives and plans of the business. The role of the different stakeholders to the business can be better understood through the use of social media (Hung, 23). Besides, making use of the social media can be crucial in enhancing convenience as the stakeholders can be in a position to access the necessary information concerning the business despite their location.
4. Do you believe there is a market for the business in the area? Why?
Yes, I believe there is the market for the business in the targeted area. This is because the company products are of high quality hence able to compete well in the market. Also, the competitor of the business have some operating boundaries that are restrictive.
5. What are the needs of your customers?
The needs of the customers include high-quality products. The customers are looking for services and products that can meet their needs.
6. How would you research and decide upon your pricing structure for the products you are selling?
I would design the pricing structure based on the income of the targeted customers. Therefore, I would research on the income level of the targeted customers. Also, I would research on the pricing strategy employed by the competitors to ensure that my pricing strategy is competitive (Hung, 27).
7. List three (3) key performance indicators of the business.
a) Improvement in performance
b) Decrease in customer complaints
c) Increase in the number of repeat customers
8. Explain the following requirements of the business:
a. Financial: the financial requirement of the business entails the capital need to finance the company operations.
b. Human resources: the human resource requirement in the business includes the labor force needed to achieve the set organizational objectives.
c. Physical resources: the physical requirement of the business can include the décor and the general setting that can help in meeting the needs of customers.
9. What licences or permits would be required by the business?
a) Food and beverage handling license
b) Business operating license
Assessment 1 Part B
1. Write an alternative business plan including:
Description of the business
Delicious meals restaurant operates in California targeting university students. The business offers diverse menu items to meet the diverse culture of the travelers.
Business products and services: It offers products like a milkshake, yogurt, meat, burger, chicken, among other food items. The products are aligned with the needs of the consumers in the market to make sure that they meet the expectations of the customers (Hung, 35).
Marketing activities: the marketing activities of the business involves the use of social media to communicate the company products. The use of social media is important in making the marking activities effective and efficient.
Financial indicators: financial indicators include improvement in performance, increased sales and increase in customers.
KPIs such as:
• Community awareness: engage the communities in making sure that their interests are considered in making business decisions.
• Quality: increase the quality level of the company products to meet needs of the customers.
• Sales: increase in sales by 40%.
• Workforce: increased motivation of the employees in the organization.
2. How will you communicate your business plan to all relevant parties?
I will communicate the business plan to the relevant parties through organizing a meeting. It is in the meeting that I can be in a position to come with the appropriate strategies to achieve the success of the business. Meeting allows the relevant parties to have the necessary understanding of the business and its operations.
Hung, Richard Yu-Yuan. «Business process management as competitive advantage: a review and empirical study.» Total Quality Management & Business Excellence 17.1 (2006): 21-40.
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