Whether you are a business major or seeking your MBA, earning a business degree actually involves learning a wide variety of theories, skills, and approaches and then being able to apply them to different scenarios. In fact, the case study is a powerful tool in business education, with students first studying real-life cases to see how business leaders reacted to situations and then with students analyzing how they would react in the same scenario. In fact, some of these case studies have become integral to studying business, so that the top schools for business publish and sell their own case studies.
The study of business usually begins with an examination of the structure of the business environment. This involves an examination of the various types of business structures: sole proprietorships, corporations, limited liability companies, partnerships, cooperatives, and S corporations. It also discusses the various stakeholders in a business and how their interests impact business goals and ways of doing business. The study of business also examines how the external environment impacts an organization’s growth, including factors like the globalization of business.
Another critical area of study for is human resources. While the study of human resources touches on some of the laws that govern employers and employees, it also goes beyond the law. Human resources also focuses on business communication and ensuring that employees and managers are properly trained to communicate effectively. Human resources generally oversees organizational training, therefore motivation, leadership, management, corporate culture, and crises management all fall under the human resources’ umbrella.
Of course, no study of business is complete without an understanding of accounting and finance. Understanding money helps a business major understand how to get funding for a venture, how to approach working capital, how to develop a budget, and how to handle incoming and outgoing accounts. The study of finance may also touch on more complicated concepts such as ratio analysis and even delve into assessment of the stock market. However, a more in-depth study of finance and accounting is usually done in tailored accounting or finance courses.
Marketing is also an important topic in business. Outside of the business realm, marketing is often confused with advertising. However, marketing involves much more than advertising a product. Marketing is concerned with the 4Ps: selecting a Product; determining the Price; selecting a distribution channel or Place; and developing a Promotion strategy. One element of marketing is understanding supply and demand, which is often taught to students through the use of Forio’s Root Beer Game. Furthermore, with globalization, global marketing strategies and the use of e-commerce have become critical elements in marketing.
Finally, the study of business looks at operations management. While operations management may seem like a catch-all phrase, its overarching goal is to ensure streamlined business processes that optimize efficiency. Operations management examines: costs and revenues; profits; break even analysis; production planning; distribution channels; project management; and quality assurance. In fact, much of the continuing education and training that business people receive is focused on operations management; a Six Sigma black belt can be described as an expert in operations management.
Economic ( business proposal ) Option
Elms hotel and spa operated only as a hotel in the previous years but it's due to offer spa services after renovation. The number of customers that visited the premises asked for spa services hence the need to include the services. The market for hotel and spa services is wide ranging from those who visit the premises only for a day to those who stay for several days or weeks. The business of offering hotel and spa services should succeed because of the enormous figure of populace who require the services all year. The business is also set to expand by establishing other business premises in different parts of the country and even venture in the international market because of the wide spread market. The management team exhibit high managerial qualities with decision making strategies that see to the achievement of the organizations objectives and goals Peterson, Jaret, & Schenck, 2010.
The organization is managed by a board of directors that includes a number of investors who have the best interests of the organization at heart. Funding required by Elms hotel and spa is both equity and debt capital from investors and banks Abrams, 2003.
The equity capital is favored to protect against bankruptcy and motivation to work towards making more profits while the debt capital provides opportunity for easier expansion of the business while making profits even while repaying the debt.
Elms hotel and spa is an enterprise that offers quality lodging amenities with modern facilities and quality meals of varied types with the introduction of a spa that is intended to offer services rated as one of the best in the world. People are in constant need for relaxing at a hotel that offers the best quality of services and facilities that are up-to-date for a maximum get away from the home environment. Many people all over the world take vocations which they spend at hotels hence the business opportunity. Elms hotel and spa has the mission to add value for customers and shareholders by continually providing quality services and improve the customer's well-being, health and happiness Peterson, et al., 2010()
Elms hotel and spa is an enterprise that offers services that are high on demand while facing stiff competition at the same time. Spa services mainly offer hydro therapy…… [Read More]
Assessing the Risk in Three Potential Investments
The way an investment is assessed will include consideration for the level of risk that is present in that investment. The higher a risk associated with a business the higher the required rewards referred to as the risk and reward equation. Where the risk premium increases this will also lead to the use of increased discount levels in discounted cash flow assessments, such as net present value (NPV) calculations. In order to consider the way this may be applied to investment decisions three different business plans may be assessed; Acme Consulting, Interstate Travel Center and Silvera and Sons.
Risk may be assessed using a number of different criteria. From the perspective and an investor, or lender, the key aspect of risk will be the determination of whether or not the money invested or loaned will be returned and whether is will make a profit sufficient to justify the risk (Berry, 2012). This also incorporates an assessment of the viability of the business and the potential financial returns (Reilly and Brown, 2011). The aspect of opportunity cost may also be considered, as an investment in one company may be seen as risk in terms of the potential returns which may have been gained elsewhere where investments are mutually exclusive (Nellis and Parker, 2006).
The first of the firms is Acme Consulting. This is a start up firm offering premium consulting services to large high tech manufacturers, such as IBM and HP, and a secondary market of medium sized media businesses, with a head office in the renowned Silicon Valley area; placing them in a key area. The firm is being established by individuals with relevant knowledge in the relevant areas of marketing a consultancy as well as the high tech industry. It is noted that the market for these services is currently fragmented which may provide opportunities, With related diversification of services, including retainer work, market research and project consulting the firm will be able to offer a full package of services. The sales patterns are expected to vary…… [Read More]
An Analysis of Three Business Plans in Regards to their Riskiness
This paper will examine three separate business plans and rate these plans based on the level of risk and the cost of capital that should be awarded to these plans. Of the three plans considered, a plan for an expansion of a coffee production facility in South America carries the least risk. An investment opportunity for a truck stop in Texas was estimated to carry slightly more risk but to be a relatively solid investment. Finally, an investment opportunity in a marketing company that targets high-tech firms and provides marketing services for firms who wish to enter foreign markets was recognized as the riskiest investment although it also has the highest potential rewards.
Acme Consulting involves a proposed business that specializes in a fairly focused niche (Palo Alto, N.d.). The organization will focus on the marketing of high-tech products in foreign markets. This niche is not well developed and many organizations do not have the internal resources available to actively market their products in international markets. The company intends to specialize in the European and Latin American markets and will be based in Silicon Valley. Their target market is intended to be small and medium size enterprises (SMEs) as well as larger corporations. The company believes that it can earn revenues of $159,000 its first year and grow them to $289,000 by year three of operations.
Despite the opportunities that may lie in this business plan, there is significant risk to this proposal primarily due to the fact that the company is untested, based on professional service, and is intending to operate with a relatively slim net profit margin. Therefore, any deviation from the original business plan could result in financial hardship for the company. However, at the same time there is also significant potential to generate huge returns on investment. This seems to be a high risk and high reward strategy that should be pursued with a cost of capital rate of roughly fifteen percent.
Interstate Travel Center
Interstate Travel Center will represent a major travel center in Dallas, TX (Bplans, N.d.). The truck stop will target NAFTA trade as well as the local Dallas market. The management team will consist of…… [Read More]
GBSGreen Building Solutions
Product & Service Description
Marketing Strategy & Plan
Environmental Analysis (SWOT/PEST)
Products and Services
Financial Analysis & Projections
Profit and Loss
Risks and Assumptions
GBSGreen Building Solutions
According to the Environmental Protection Agency (EPA) the impact of commercial buildings on the physical and social environment are such that there is "not questioning the vast impact…" (Environmental Protection Agency, 2006) Commercial Buildings are reported by the U.S. Department of Energy's Energy Information Administration to account for "18% of total energy consumption." (Environmental Protection Agency, 2006) It is reported that energy and climate change issues have "moved from the sidelines to center stage…." (Global Business Network, 2007) This is reported to be due to there having been "…a wholesale shift in business attitudes in the U.S. around climate change and energy. " (Global Business Network, 2007) According to the Global Business Network, ways that the U.S. energy environment might evolve through 2020 includes the following:
(1) Advances in global energy supply and use technologies;
(2) Shifts in U.S. politics and regulations related to climate change;
(3) Public and shareholders perceptions of climate change;
(4) Shifts in financial markets that impact energy markets;
(5) Changes in energy commodities supplies;
(6) International political and economic patterns around energy;
(7) Growth in energy efficiency; and (8) New business opportunities arising from energy and climate change. (Global Business Network, 2007)
The construction industry is reported in Time Business & Money online to be one of the top ten fastest growing industries in the United States. Specifically stated is "Rising energy and other commodity prices have made sustainable building more cost effective, helping green and sustainable construction survive the recent downturn." (2013) In fact, according to Rick Redrizzi, President, CEO and Founding Chair of the U.S. Green Building Council and Bob Hansen, former Global Industry executive Director for the Construction Industry and Vice President and General Manger of the Core Products Business Unit, Dow Corning, buildings, "in the United States…are responsible for one-third of our total energy use, raw materials use, waste output and greenhouse gas emissions. Energy utilization in buildings is comparable in Europe and Asia. Simply put, a green…… [Read More]
Definition of the Market
Description of the Products
Organization and Management Descriptions
This paper presents business plan for a new leather garment manufacturing and retailing business. The business is being set up with an initial capital outlay of $53 million. The paper starts with a brief description of the business; its target market and product offerings, and then proceeds by proposing organizational and management strategies, marketing strategies, and financial management strategies.
According to the proposed business plan, the company will have a centralized organizational structure and will primarily focus on developing its brand image in the market. The marketing strategies on different mediums will be designed in order to attract potential customers. The company will also take the services of business development firms and distribution companies for its operations. The major expenditures which the company will have to incur in the initial phase include; purchase of heavy raw material stock, processing and manufacturing plant, marketing, distribution, salaries and administrative, e-commerce setup, and legal requirements.
1. Business Description: Leather Garments Manufacturing and Retailing
The proposed business will be set up in California, United States and will serve the high and upper middle income groups of the society. The business will be established with a leather garment manufacturing and processing unit and a number of retail outlets in the most potential areas in the city. The projected initial capital outlay for this business is $53 million. The new company will employ more than 200 people at its manufacturing and production units and 50-75 persons at its retail outlets. The company will offer sports, formal, casual, and occasional leather garments.
2. Definition of the Market
The proposed business will mainly target the male consumers with its top quality and trendy leather garments. The retail outlets will be opened in the most populous areas of the city and will direct compete with the major local and international garment brands operating in those areas. The age group of target consumers will range between 20-45 years. In addition to the main product lines, the company will also target kids and teens with a limited range…… [Read More]
Marketing Plan and Evaluation
The marketing plan should revolve around the marketing mix. The mix encompasses the four Ps of marketing, each of which will be addressed in turn in this business plan. The four Ps are product, price, place and promotion (NetMBA, 2010). With respect to product, the coffee shop will be a premium example of a coffee shop. Australia has an exceptional coffee culture, so good that it is the envy of the world, and exported to foreign nations like Singapore, Hong Kong and the United Kingdom. The quintessential Australian coffee shop experience and the products related to that experience is what we are selling. The experience itself will be familiar to anybody who has patronized a high quality coffee shop -- relaxed atmosphere, well-trained staff, good music, free Wifi and other service elements. The product will consist of high quality espresso primarily, and the drinks that go along with that. Drip coffee will also be very high quality, using beans from the best local Queensland roasters. The company is also going to supplement the menu with food items from local artisan producers, for example high end coffees, artisan ice creams and other gourmet snack products.
Some of these product elements have been described in further detail in the operations section of this business section. It is important to know, however, that the different elements all come together to deliver a premium experience. The experience is important to combatting competitors, of which there are many. There are chain coffee shops and independent shops. Among the chain shops, Starbucks features the so-called "Starbucks experience" as one of its main competitive advantages (Michelli, 2007). Our shop will also feature our experience as a major part of the service offering. The positioning will be as a differentiated producer, with an offering that is superior to the offering of our major chain competitors in particular. We will offer a product/service mix and value proposition that is on par with the offering of the best independent coffeehouses in Australia.
The price element of the marketing mix must be designed in accordance with the broader strategic mission, and in accordance with accepted pricing strategy.…… [Read More]
Everest Technology Computer is a new company that intends to manufacture computer and its accessories. Since the company will operate in competitive market environment, Everest Technology needs to understand the costs structure to increase revenue and maximize profits.
The objective of this paper is to provide a business plan that will assist the Everest Technology to increase revenue and maximize profits. The next section discusses the strategy that Everest Technology will employ to increase revenue.
Strategies to Increase Revenue
Everest Technology will use several techniques to increase revenue: The strategies are as follows:
Cost cutting measure
Increase the unit price
Increase in sales
One of the best strategies that Everest Technology could employ to increase revenue is to decline costs since cost reduction is easier to implement than price rise. The equation below reveals the four factors that affect profitability:
Equation Profit = "Revenue - (Variable costs + Fixed (capacity) costs)."
Typically, costs predictable are easier to control. Thus, an appropriate method to increase revenue is to implement the cost cutting measure, which will assist the company to increase profits. .Thus, the company could reduce costs in the areas such as selling and distribution, purchasing, administration, production, research and development. Cost reduction in these areas will produce a corresponding increase in revenue.
Moreover, the company could save the fixed costs by cutting the costs of anything that does not generate revenue. For example, the company could reduce the costs on rent, travel, interests on payable and communication. Using cost reduction analysis, the company will generate 5% increase in profit margin because 5% reduction in the fixed costs will lead to the 5% increase in profit margin everything else being equal. This is revealed in Table 1.
Table 1: Increase in Revenue through Fixed Cost Reduction
Unit Variable Cost
Taxes and Insurance
Another method the company could employ to increase revenue is by reducing the variable costs unit through outsourcing, cheaper outsourcing, and off shoring and improve efficiency. Typically, 5% decline in…… [Read More]
Business Plan for a Concrete Polishing Company
Business plan for establishing concrete polishing company in Sydney Australia
Concrete polishing company, Sydney, plans to become a leader in providing concrete polishing services in the city. The company plans to do this by having the best facilities and human resource with experience in the industry. Plans are set to counter competition from existing companies by a continuous improvement of processes. Measuring standards of performance and evaluation of results that will enable the growth of the company are the main targets. Concrete polishing company, Sydney plans to develop a sophisticated framework and organization from the current complex construction systems. The system developed will be adapted to almost any construction requirements of clients.
The business targets to have qualified and experienced staffs that are creative and innovative. Creativity will enable the designing of custom components that are necessary a formwork package. The use of concrete flooring was traditionally used in places where utility, durability and the ease of cleaning are important than beauty and design (Concretech One, 2013). This perception has changed, and various materials are now available for home and office designs. The company targets the gap in the market to develop marketing alliances with existing companies, and latter pursue new sales of its services to commercial and residential builders.
Concrete polishing company, Sydney, plans to use a direct sales force method and relationship selling to reach the market. The market channels above are fast and reduce the time requirements and uses less capital. The methods are appropriate as they reach established market channels fast. Financial sources to consider are loans from specific financial institutions in the city. From the small capital outlay and the size of the company, the company projects low returns within the first year of operation. Projections show high returns from the second and third year of operation.
Many companies providing polishing services in various capacities flood concrete polishing industry in Sydney. The industry comprises of both…… [Read More]
[2: www.med.govt.nz/business/business.../structure-and-dynamics-2011.... ]
The primary research of the Auckland market presents the following sectors for consideration for the new venture:
The demographics in the target market include: college going and married women with children who either are working mothers or stay-at-home mothers; this makes the age group anywhere between 25 to 55; the overall annual income of the household is more than AUS $100,000; the property owned by the target individual is worth at least AUS $425,000; the targeted individuals will preferably be one that have interior design requirements for their office or residential space as well and are part of the corporate industry on a professional level that could include clubs, association, university groups, etc.
The psychographics for the chosen audience form Auckland will include the following aspects: priority for impeccable taste for home and office design; have creative outlooks on the world and have an active social life; are regular readers of one or more of the following magazines - Martha Stewart Living; Country Living; Home; House Beautiful; Elle Decor. The following chart and tables include the potential market trends in the targeted market in Auckland:
Country Club Women
Boomers in Transition
Auckland reached to the 1.5 million populations in June. In 2011, there were 34 Aucklanders of every 100 people living in New Zealand (National, 2012)[footnoteRef:3]. Every office owner and adult person of these populations is IDC's goal. [3: http://www.stuff.co.nz/national/7783245/Auckland-population-headed-for-2-million]
Technology is managing risks for both enterprise and its customers from the first stage of settlement to the final stage of the arrangement (Grant, 2010). While it codifies each point of deal and shows the initial plan through the three-dimensional photos.
There are two kinds of distribution channels in IDC: international channels and local channels. Heavy products are delivered by the Chinese company in three ways: DHL, EMS and China Post AIR…… [Read More]
Business Plan of Searchyyy.com a Meta search engine
Market Opportunity & Solutions
Business Model and Strategy
Search engine according to countries and languages
Social Networking and Blogging Sites
Sales and marketing plan
Debt to equity ratio (D/E)
Organization and Ownership
Risks and mitigation
Searchyyy.com, Inc. is Meta search engine which intends to provide a multi-category search engine to its users at a faster pace. The growing technology has evolved our lives. Users search from irreducibly complex systems to finding a local food chain. The business revolves around providing an appropriate tool to the users in order to provide an access to the needed information. The web site also offers different blogs in more than ten languages to post local jobs and advertisement for different countries. Several countries are listed separately in order to make the search more focused and easier.
Searchyy.com Inc. is a publically traded link which provides multi-search services to its customers completely free of cost. It also provides advertising services at a relatively low cost to advertisers. The company aims to become the widest Meta search engine across the globe. The company is a provider of search technology through its website www.searchyyy.com. The purpose of meta-search engines is to send users request to other search engines and gathers the appropriate results in the form of single list and provide the most compatible results to the user.
Searchyy.com Inc. aims to provide the access to several other search engines simultaneously at a faster speed and to give maximum possible desired results. As web is a large tool to attain a desired result, thus, Searchyyy.com, Inc. helps in providing comprehensive search results combined from several search engines. This will save the user from using multiple search engines distinctly.
Market Opportunity & Solutions
The competition is quiet tough as possibility of new market entrants is quiet easy because of low start-up capital and simple business model. Several competitors in the business increase the bargaining power of the advertisers, increase pressure and competition. Although the competition is tough but still the company has the potential to grow and create a name in the market. The company can…… [Read More]
The company's numerous small local suppliers will help Green Delight to benefit from efficient production costs, which will further allow the company to introduce available prices.
Green Delight intends to offer a diversified range of prepared and packaged organic foods. The main categories of products that will be manufactured and commercialized by Green Delight include: frozen entrees, sauces, salad dressings, soups, desserts, and snacks.
The ingredients used in preparing the company's products will be supplied by small local farms able to provide organic ingredients. These farms are located in the region where Green Delight will produce and sell its products in order to reduce transportation costs.
Green Delight must take into consideration the fact that the main problem that affects organic foods producers is represented by frequent shortages in the supplied provided by small farms. Therefore, it is recommended for the company to establish a relationship with a higher number of suppliers, rather than to rely on a small number of suppliers that can suffer a series of supply shortages, affecting the company's activity.
The company's product range must cove all the prepared foods categories. Otherwise, consumers will turn to conventional foods for satisfying their needs. In this case, it will be difficult to create a loyal customer base that the company can count on.
The packaging of the company's products is also important in attracting customers. The product design must stand out among competitors' products. Also, the product design must show the consumer that these products are natural, organic products.
Given the name of the company, the packaging color will be a natural green. The size of the products is important also. Green Delight products will be commercialized in sizes suitable for one person, and in sizes for the entire family, with a better pricing.
As mentioned above, organic products can be significantly costlier than conventional products. Many of Green Delight's potential customers are price sensitive. Although they want to purchase such products, it is quite unlikely that they will allocate a higher budget for such products, especially during the economic and financial crisis that has affected consumers' incomes.
The fact that Green Delight is able to purchase its ingredients from small local suppliers that…… [Read More]
The reason why they look at the location is to ensure, that the property is properly zoned for such a business and to see if there were any other problems, with the liquor license at this location.
Next, you want to take photographs of the locations itself. This will be included with the application that you are submitting to the Department of Consumer Affairs. In general, the more pictures that you can supply of the interior and exterior of the property, the more it will help to provide a complete picture. This is important, because it will show that you are trying to be as transparent as possible, increasing your chance of being approved.
Once this is complete, you want to create a layout of what the location will look like, once it is open for business. This means that you must include details and sketches, showing areas where alcohol will be served as well as stored. The more detailed of picture you can provide, the quicker the application process will be, as this will provide a clear picture of what the business will look like once it is open.
The fourth step is to file the application. This means that you must know what kind of liquor license you will be applying for, as there are different licenses depending upon the business and what kind of products you will be selling. The most logical license for the liquor store would be: the package store permit. This will allow the business to be able, to sell a variety of beers and liquors.
The fifth step is the period of public comment. This is when various notices will be posted in the community and in the newspaper, announcing that a business has applied for a liquor license. There will be a period of public debate and comment. If there are any kinds of objections that are…… [Read More]
0 technologies ((Wirtz, Schilke, Ullrich, 2010)
Heavily reliant on a broad range of integration points throughout an enterprise, creating a real-time information network using collaboration technologies including Facebook-like applications (Salesforce.com Chatter)
Comparable in design objectives to the structure of the knowedlge-sharing ecosystem; yet this business model is based on real-time social media data and collaboration
Ideal for large, knowledge-based businesses that are growing rapidly; perfect fit for new business ventures based on consulting and subject matter expertise
The progression of business models has been from those initially focused on the internal needs of a company to the expectations, preferences, wants and needs of customers. Compounding this transition has been the need for providing customers with highly customized products and experiences (Pynnonen, Hallikas, Ritala, 2012). These factors have been taken into account in the analysis of the core business models that have dominated the global economic landscape from 1900 to today. The business model of today's key features are defined earlier in this analysis, in addition to showing how agility and responsiveness have won out over rigidity and cost reductions over time. The need for creating business models that stay in step with customers' expectations and needs have never been greater as businesses face greater uncertainty and risk in their core markets than ever before.… [Read More]
This chapter addresses the reasons that one should study business and businesses to begin with. The authors make the point that they do not intend for this to be a narrow study that just focuses on particular examples of successive and failed businesses, although it will include case studies too.
But the major point of studying business, the authors write, is to provide a larger sense of what is needed to succeed in today's working world. Unlike previous generous of workers, who could succeed by mastering a few specific skills, today's workers have to be broadly educated, being able to exhibit: "honesty and integrity, willingness to work hard, dependability, time management skills, self-confidence, motivation, willingness to learn, communication skills, professionalism."
The chapter also provides basic definitions that will be used throughout the books, including "business" (the organized work of individuals coming together) and providing a brief overview of how capitalism works. The authors also explain communism, fiscal and monetary policy, the concept of productivity, and the business cycle. It also addresses very briefly the ways in which American legal system both supports and restrains business activity. The chapter ends with a brief description of green business.
These are all basic concepts that must be understood to understand today's competitive business climate and how it will change over the next decades.
This chapter addresses the complexities of business ethics, a part of the general category of ethics, which the authors define as "the study of right and wrong and of the morality of the choices individuals make." Business ethics is "the application of moral standards to business situations." The authors stress the fact that individuals (and businesses) can have different standards of ethical behavior that are all acceptable if they are all based on such concepts as fairness and honesty.
Among the key ethical concepts that businesses face are conflicts of interest and greenwashing, which is the…… [Read More]
Business Level Corporate Level Strategies
Business-Level Corporate-Level Strategies
Analyze the business-level strategies
Analyze the corporate-level strategies
Analyze the competitive environment
Difference in slow-cycle and fast-cycle markets
The corporate strategy of a business is based on the vision and mission of the entity. It also lays a foundation stone for business and functional strategies. The industry sector specific to the business is also influential factor in developing strategies for a specific corporation. Diversification in related and unrelated product lines as well as expansion through geographic presence enables the organization to capitalize on profits. The sections below highlight the Kellogg's corporate and business strategy. It also investigates the industry competitors of the business and their strategy. The fast and slow cycle markets are also discussed with respect to their relatedness in strategy.
Kellogg's is one of the famous brands in food processing industry. The business has not only created new line of product but also specialized in the range of products they produce. The company was inaugurated in 1906 based on the experimentation of Kellogg brothers since 1898. The business initially hired 44 employees to commence its operations. However within short span of time the business gained popularity and it has also started to expand beyond borders. The company products and quality is well recognized throughout the world. The business has also emphasized on the quality and nutritious values of their products. The corporation is considered one of the notable innovative businesses that have introduced several flavors and tastes within the corn flakes and breakfast food processing sector of the country and globe (Kellogg's).
The corporation has taken a notable initiative in 2009 -- 2010. The business has learned through research that the population within United States does intake proper fiber quantity. The business thus started an initiative through which they increased fiber content in their products. The initiative is also regarded as a one of the customer centric approach taken by the business to cater their target market. The sections below are focused to investigate the business level strategy and analyze its strength for future success. The corporate level strategy is also explored and its impact on the business growth (Kellogg's). The competitive business environment is also tested in relation to one of the business…… [Read More]
Business as an Ethical Calling: My Personal Philosophy
The last several decades have seen American enterprises beset by a number of ethical scandals, spanning from the accounting fraud of Enron and WorldCom to that of the recent subprime housing debacle and credit crisis of 2008. As a result, there has been a call to integrate ethics into the business studies curriculum and to try to temper the cutthroat atmosphere amongst ambitious aspiring executives. Concerns about treating the environment with care, the need to respond demands for a more diverse workplace, and sustainability issues are all shaping the ways that corporations present themselves to the public. But the requirement for-profit corporations to be, well, profitable, remains. Examples of successful businesses that pay homage to ethical concerns do exist but the idea of the perfectly ethical business remains elusive. However, I personally believe that because of changes in the current corporate culture of America, the idea that ethics must invariably be sacrificed to profitability is false. While it is true that ethics can be a balancing act, and not every issue is as black-and-white as following the law vs. not following the law, a business must operate with some sense of an ethical mindset to sustain customer loyalty -- and even to cut costs.
According to classical theories of firm responsibility, however, firms are not supposed to prioritize ethics over profits. Shareholders, the de facto owners of a corporation, buy stock with the intention of gaining financially, and a CEO cannot use 'other people's money' to further his or her own agenda. If cutting workers' salaries are a feasible means to increase profits, then so be it. But there are a number of problems with this perspective, even from a self-interested point-of-view. For example, corporations that fail to take into consideration the safety hazards of products, even when they continue to technically obey the letter of the law, have met with lower sales, such as the beef manufacturers of the controversial additive 'pink slime.'
On a systemic level the idea that corporate ethics is an oxymoron is being challenged.…… [Read More]
The mission of the business will be to provide quality gourmet food and utmost convenience and choice to traveling airline passengers. While giving complete control to the airline passenger by allowing them to choose their meal and determine the cost without the inconvenience and time crunch inherent in airport food establishments or scarce in-flight food offerings.
The management team will consists of several food service industry specialists and two travel professionals. Initially the market will be limited to one large airport. The establishment will lease a kitchen space close to the Chicago International Airport and begin serving pre-ordered meals to airline passengers with flights originating from this airport with the intention of growth producing opportunities to expand to other origin locations, beginning with New York International Airport and then establishing a west coast market, in Los Angeles and a central market, in Denver.
The menu offerings will include at least ten creative gourmet dishes for a customer to choose from. Encompassing a group of Italian Country/Bistro style food selections with occasional special offerings that have a foreign flare to play off the traveling focus of the business. The food will be presented in an appetizing display and attempts will be made to ensure the time of delivery be as quick as possible to ensure quality and freshness. The menu will offer both cold and hot menu choices and the demand will be met in a restaurant style kitchen with orders being prepared just as they would be for a customer who was on sight in a dining room.
Airlines have been looking for a way to cut costs while still providing quality services for several years but the nine eleven economy downturn has left many with limited options for change and even more limited budgets to make changes. Imagine as a traveling business professional or a relaxed pleasure traveler, being able to satisfy a discriminating pallet while sitting comfortably in an airline seat, knowing that there will be no more frantic steps until the next connecting flight.
Airlines have been privatizing some services for years in an attempt to reclaim the major part of the ticket price for future growth and operations, yet the airlines have continued…… [Read More]
This is a business plan of Scarves Unlimited. The business will be a partnership business between Andy, Brandy, and Savanna. The partners of the business intend to improve business operations, and ensure there is increased productivity in the business. Therefore, this business plan will clearly illustrate how the business plans to operate, market its products and services and introduce technology in its operations. This is aimed at ensuring the business attains its basic goals and objectives and ensuring there is effectiveness and efficiency in various operations undertaken in diverse departments in the company. This plan will describe the business, its products and services, supply chain management strategy, customer relations management strategy, system integration/enterprise resource planning strategy, database/MIS infrastructure, business mobility/E-business strategy and ethics/security of the business.
Description of Business
The name of the business is Scarves Unlimited. The business will be a partnership business between Andy, Brandy, and Savanna. The partners of the business will be the owners of the company, and will ensure that all processes in the organization are taken into consideration. This will be aimed at ensuring that customer requirements have been attained successfully, to enhance profit making. (Champan, 2010).
Description of Product/Service
The business will primarily focus on operating online with advertising and selling of different styles of scarves, heavy weight, light weight, infinity, traditional, formal, and informal among others. This will help ensure that requirements of individuals from diverse communities have been attained. This will also help the business attain a competitive advantage as the products and services offered with be of considerable range.
The scarves produced by the business operators will be of various types, and made to fit requirements of both the female and male genders. This way, the organization can capture attraction of diverse customers and also introduce new styles of dressing among individuals from diverse communities, races, tribes, ethnic groups, cultural beliefs and traditional backgrounds as well as nationality (Harold, 1955).
The solution that the business offers to the online market opportunity is to help clear a market niche in the market. The scarves produced by the organization are of good quality and…… [Read More]
This will be achieved by creating a comfortable Internet shopping environment, one in which the net surfer will be drawn to and will find easy interfacing for maximization of purchasing.
All of the marketing initially will be done on the Internet using three main media: 1) Search Engines, 2) News Groups, 3) Banner trades. The search engine positioning is the only valid method of marketing. This involves efforts at getting the site registered with the eight major search engines including Alta Vista, InfoSeek, and GoTo, as well as with the directory Yahoo/Europe and Yahoo/France. News Groups are a more subtle kind of marketing, wherein mention of the store and its products are listed as "news" items and transmitted to focused news groups. Some 1,200 of these have been identified as relevant for our market and these 1,200 reach an estimated 800,000 women around the world.
The first two media mentioned have only labor as the primary cost. After an initial positioning is achieved with these media, the Banner Trade program will begin. With such a program, banners are purchased on focused sites and the banners are then linked to the Casual-Tees website.
4. The Marketing Mix for Casual-Tees
The marketing mix consists of the 4 Ps of marketing, i.e. product strategies, pricing strategies, promotion strategies, and place strategies. These four types of strategies will be helpful for the company's Management in presenting its products to their potential target customers in the most effective and efficient way.
a. Product Strategies:
Casual-Tees aims to build its brand image as a top quality retailer in the French market. Therefore, it will only offer casual and dress Tee-shirts manufactured by renowned local and international firms. Keeping in view the increasing demand for modern and stylish clothes, Casual-Tees will have to choose its product lines very carefully. Moreover, it will have to offer a wide variety of summer and winter Tee-shirts for the women from all age groups in order to maintain a steady flow of customers throughout the year.
b. Pricing Strategies:
In order to grow in the French market with a rapid pace, Casual-Tees will need to attract all income groups and social classes from the target market. Therefore, it has planned to offer Tee-shirts from different price ranges, i.e. from simple and plain Tee-shirts that cost $25-$30…… [Read More]
The current performance period runs from late October through early December 2010. There are a number of expectations that will need to be met in order to facilitate the creation of an ongoing business entity. Weekly expectations include; 1) the distribution and return of at least 50 surveys that will assist in determining the need and desire for a new travel agency, 2) a completed cost analysis, 3) compilation of start-up expenses, 4) research on competition and amenities. The expectations are ongoing concerns based on what it will take to create and maintain a travel agency based on tours to Jamaica.
A timeline has been established (see Table 1) and following the timeline should provide for more than enough time to complete each task. There may be some variance in the schedule depending on the availability of information online. If it is discovered that the information is not available, that may preclude the researcher to resort to other avenues of obtaining information. Such avenues could mean trips to public libraries, government or business offices in order to collect the necessary data.
Chores that are expected to be addressed during the first week include the initial distribution of the customer surveys. It is projected that approximately 80% of the initiated contacts will result in completed surveys. If that percentage holds true, a total of 65 surveys will need to be distributed in order to achieve a total of 50 returns. With approximately 5 weeks to distribute the survey a goal of 13 per week (or approximately 2 per day) is feasible. The second chore is to go online and research the competition. That has been accomplished and there is no variance with this chore.
The third chore is to research and print the forms and communications needed to form a legal business entity in regard to the IRS. There is a two-week time frame to complete this task, already approximately one-half is completed, which leaves the researcher with plenty of time to complete the work. The fourth chore is to access the Small Business Administration (SBA) in order to determine what help is available in creating and developing a small business.
The current project focus is the distribution and completion…… [Read More]