A business plan sets out the method for running a specific activity over a specific future period. A plan usually reviews the current status of an organisation and sets out an overall business strategy for say five years with a more detailed operational plan and budget for one year ahead Stutley R, (1999). Please find my business plan attached to appendix A. My mission statement is “Provide customer with the best taste for coffee in the most efficient time”. SMART objectives – Make 15% profit within the first year of running the business and 5% market share. Develop my unique selling point around Manchester within 6 months. I will make sure that pink tea is popular within the age group of 25-60 years old, within 18 months. Cut down expenses
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Competencies reflect the aggregate of the experience and skills developed when handling specific challenges and opportunities Stutley R, (1999).). I have one of the best coffee machines compared to my competitors, which will help me to serve more customers in a certain time compared to competitors, for example in on minute I can serve up to 4 people coffee compared to Starbucks who serve 2 or 3. As a team leader, I have the ability to demonstrate skills and success in getting groups to learn to work together. One core competencies is I sell coffee at a low cost, this will benefit customers as they will get their goods cheaper, high turnover for me as more products will be sold. We need to make sure organisational culture is compatible with customer so we can attract and retain them. The stakeholders for my business are government, employees, competitors, bank, the community, customers and suppliers. Customers would want to receive value and quality for the money they will spend, receive safe products, good customer service and easy access to location. Employees would want to receive a fair wage, be treated properly, to have a safe working environment, discounts and career growth. Employees influence the success of a business by their productivity in their job. Suppliers would want regularly orders and be paid on time. Suppliers can also change credit terms which may affect cash flow and can decide whether or not to allow discounts for bulk orders. The community would want jobs to be created and to be free from environmental disadvantages. The local community can influence my business because of petitioning against planning permissions for new developments. The bank would want to be paid back in full and to receive interest on loans when due. The banks are going to influence my business because of the different interest rates they are going to charge for borrowing. The government would want to
Competencies reflect the aggregate of the experience and skills developed when handling specific challenges and opportunities Stutley R, (1999).). I have one of the best coffee machines compared to my competitors, which will help me to serve more customers in a certain time compared to competitors, for example in on minute I can serve up to 4 people coffee compared to Starbucks who serve 2 or 3. As a team leader, I have the ability to demonstrate skills and success in getting groups to learn to work together. One core competencies is I sell coffee at a low cost, this will benefit customers as they will get their goods cheaper, high turnover for me as more products will be sold. We need to make sure organisational culture is compatible with customer so we can attract and retain them. The stakeholders for my business are government, employees, competitors, bank, the community, customers and suppliers. Customers would want to receive value and quality for the money they will spend, receive safe products, good customer service and easy access to location. Employees would want to receive a fair wage, be treated properly, to have a safe working environment, discounts and career growth. Employees influence the success of a business by their productivity in their job. Suppliers would want regularly orders and be paid on time. Suppliers can also change credit terms which may affect cash flow and can decide whether or not to allow discounts for bulk orders. The community would want jobs to be created and to be free from environmental disadvantages. The local community can influence my business because of petitioning against planning permissions for new developments. The bank would want to be paid back in full and to receive interest on loans when due. The banks are going to influence my business because of the different interest rates they are going to charge for borrowing. The government would want to