Description
This is a scenario-based task. You want to start your own company. Plan and prepare its overall profile, organizational structure, mission and vision, products / services it will provide. How will you arrange for raw materials and finances?How will you ensure the success of your company in this competitive world?
Compile a report comprising the following information.
Introduction:
Objective:
- What did you set out to do?
A brief profile of the Company/Service:
- The name you have chosen for your Company/Service
- Design a catchy logo and a slogan for your Company/ Service
- When and where you want to start your Company/Service. Give reasons for your choice of place and date.
- Mission and vision of your Company/Service
- What exactly the Company/Service does
- What products or services are offered
- Why these products or services are compelling, e.g., “…. the only product that enables (solution) to (the problem) …”
Body/Discussion:
Funding
- How will the Company/Service be financed?
- How will the funds be used, for e.g. – salaries, repairs and maintenance, local advertising, marketing, rent, internet and telephone, equipment’s etc.
Products
- Describe the goods/services your company will provide
- What need does the product/service meet for customers
- What is unique about the product/service? What is the competitive advantage? What differences, improvements and innovations are there in comparison to other products/services in the market?
Customer Demographics
Describe the company’s current and potential customers (age, gender, income, lifestyle, interests, number, geographical location, etc.).
Pricing Strategy
- What pricing strategies/techniques will you use?
- What are your prices? Include a list of prices.
Competition and Advantage
- Name at least one your major competitor
- Describe the competitor and what position does it have in the market (e.g. quality, services, price etc.)
- Steps you will adopt to ensure the success of your company
Conclusion (your own reflections)
- What did you learn from the experience?
- Give suggestions, what an entrepreneur should consider before setting up new business.
Structure of the report:
- Introduction
- Discussion
- Analysis
- Conclusion and Recommendations
*** Word count: 1000 words
*** In-Text Citation and References using Harvard style
*** You can find inside this link a list of companies and choose one of them:http://www.greatplacetowork.net/best-companies/worlds-best-multinationals/the-list
Explanation & Answer
Attached.
Business Communication
BUSINESS COMMUNICATION
Name:
Course:
Institution affiliation:
Date:
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Business Communication
Introduction
Objective
To provide delicious and nutritious food that meets the needs of the customers.
A brief profile of the Company
Name: StedyMax Restaurant
A catchy logo and slogan:
Location:
StedyMax Restaurant will be located at the CBD of New York City. This is due to the
fact that New York is a strategic place with a high number of potential customers. The majority
of people working in this city take breakfast and lunch from various hotels and restaurants.
Therefore, this strategic location will enable StedyMax to record a high number of customers
within a few weeks after entry into the business.
Mission and vision:
Mission: To prioritize on the nutritional needs of our customers by providing quality services
that meet the customer expectations.
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Vision: To be a top-rated restaurant that addresses the nutritional challenges facing the current
generation.
Products and services:
StedyMax Restaurant will offer a wide variety of foods including salads, roast meat, fried
chicken, pizza, tea, veggies, apple pie, hamburger, clam chowder, sausage, tacos, fruits, etc. The
restaurant will also offer all the brands of soft drinks to suit the diversified needs of its
customers. These are the highly consumed foods various restaurants in New York City.
Additionally, StedyMax will also provide accommodation services to its clients.
Discussion
Funding
About 60% of the startup funds will be contributed by the shareholders while the
remaining 40% will be borrowed from the bank. In this case, the shareholders of the company
contribute a bigger share of the funding to minimize risks. The funds will be used finance all the
operations of the restaurant including purchasing of food products, paying the monthly rent,
paying the salaries and wages, marketing the company's products and services, the hiring of
necessary equipment, etc.
Products
StedyMax will provide a variety of delicious and nutritious foods the meets the needs of its
customers. The type of food that will be offered include salads, fried beef, fried chicken, pizza,
tea, veggies, apple pie, hamburger, clam chowder, sausage, tacos, etc. All the brands of soft
drinks and fruits will also available abundantly. The nutritional content of these foods will be a
unique future that distinguishes it from food offered in other restaurants. The company will be
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sourcing the natural foods from the farmers directly to ensure that the meals offered have a
minimal chemical content level. Thus, the nutritional content of these foods will give StedyMax
an added advantage in the market.
Customer demographics
St...
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