MBALN707 Reviving a failed business and building a business plan

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Question Description

TWO QUESTIONS ARE INVOLVED HERE.

1.Problem

In the heart of London’s city centre, the popular SpiceSky restaurant prides itself on the quality and range of its Indian food since

1988. The restaurant has been recording a yearly increase in sales since its grand opening more than two decades earlier. The

restaurant owner Ali Mahal, nevertheless, has invited your company to offer solutions to a gradual decline in sales that has been

recorded the last 12 months. More specifically, Ali explained that sales, which have grown every year since he opened the restaurant,

have actually dropped over the last twelve months. Yet, London’s central restaurants, as well as the town’s city centre have continued

to prosper.

Moreover, to get a full picture, you have decided to visit the restaurant and investigate first-hand the experience of dining in SpiceSky.

2. Build a business plan by designing a strategic plan, conduct a feasibility

analysis, understand franchising and how to buy an existing business

Develop a marketing plan and how to use e-commerce, create a

successful financial plan.

This is an individual piece of work. The assignment is business plan writing. The

length of the assignment should be about 4000 words (+/-10%).

The word limit does not include ‘administrative’ sections of the assignment: the

cover or title page, table of contents, table of figures, reference list, list of works

cited, bibliography, or any appendices. Use Harvard Referencing for all Harvard

related purposes.

Task:

You are required to write a business plan which will provide direction and

increase the probability for success of a business idea within the today

contemporary and very competitive market.

Unformatted Attachment Preview

MBALN707 Entrepreneurship & SMEs Final Examination Brief Learning Outcomes Build a business plan by designing a strategic plan, conduct a feasibility analysis, understand franchising and how to buy an existing business Develop a marketing plan and how to use e-commerce, create a successful financial plan. This is an individual piece of work. The assignment is business plan writing. The length of the assignment should be about 4000 words (+/-10%). The word limit does not include ‘administrative’ sections of the assignment: the cover or title page, table of contents, table of figures, reference list, list of works cited, bibliography, or any appendices. Use Harvard Referencing for all Harvard related purposes. Task: You are required to write a business plan which will provide direction and increase the probability for success of a business idea within the today contemporary and very competitive market. The business plan should include at least the following contents / elements: Part I – 150-200 words Company overview o Mission statement - the purpose of the business o Vision statement – what the business desires to achieve in the long run o Business Core Values – the operating philosophy and principles that will guide the intern al business conduct as well its relationship with its customers and partners Part II – 800-1000 words Objectives – Specific, Measurable and Motivational, Attainable, Realistic, Time Bound Products Customers – consumer behavior and customers of the industry Industry and market analysis o Industry o PESTLE – Political, Economic, Social, Technological, Legal, Environmental conditions and trends (specify those they are opportunities or threats) o Customer o Competition – direct and indirect competitors, market share, strengths and weaknesses Internal business strengths and weaknesses Part III – 1500-1800 words Business differentiation - how it will be achieved and perceived by customers Competitive advantage - reasons for which customers will choose your business as opposed to other alternatives Marketing Strategy o Target markets strategy  o    Marketing mix Product  Price   Promotion and advertising  Placement – distribution system  Sales strategy o Sales monthly forecasting – 2 years period Part IV –750- 1000 words Operations Strategy o Business operations model o Buildings, Equipment, Technology, Cars, o Processes – i.e. Imports, Purchases, Production, Marketing, Sales, Warehouse, Accounting, Human Resource Management o o Organizational structure Internal employees and external associates (outsourcing) Part V – 200 - 300 words Financial 2 year projected budgets o Financial model (own capital, loans, external shareholders) chart o Administrative & Operating expenses - chart o Selling expenses- chart o Financial expenses - chart o Break Even Point Analysis (sales amount, sales units, and period point) o Cash flow management Business Plans Templates Websites Examples of Business Plans – Open Source https://www.bplans.com/plastics_recycling_business_plan/executive_summ ary_fc.php How to write a successful Business Plan https://www.scu.edu/mobi/business-courses/starting-abusiness/session-2-the-business-plan/ Financial Projections Model https://www.entrepreneur.com/article/249840 Module Assessment The final examination counts 50% towards the final grade. Pass mark is 60%. MBALN707 Entrepreneurship & SMEs Final Examination Brief Learning Outcomes Build a business plan by designing a strategic plan, conduct a feasibility analysis, understand franchising and how to buy an existing business Develop a marketing plan and how to use e-commerce, create a successful financial plan. This is an individual piece of work. The assignment is business plan writing. The length of the assignment should be about 4000 words (+/-10%). The word limit does not include ‘administrative’ sections of the assignment: the cover or title page, table of contents, table of figures, reference list, list of works cited, bibliography, or any appendices. Use Harvard Referencing for all Harvard related purposes. Task: You are required to write a business plan which will provide direction and increase the probability for success of a business idea within the today contemporary and very competitive market. The business plan should include at least the following contents / elements: Part I – 150-200 words Company overview o Mission statement - the purpose of the business o Vision statement – what the business desires to achieve in the long run o Business Core Values – the operating philosophy and principles that will guide the intern al business conduct as well its relationship with its customers and partners Part II – 800-1000 words Objectives – Specific, Measurable and Motivational, Attainable, Realistic, Time Bound Products Customers – consumer behavior and customers of the industry Industry and market analysis o Industry o PESTLE – Political, Economic, Social, Technological, Legal, Environmental conditions and trends (specify those they are opportunities or threats) o Customer o Competition – direct and indirect competitors, market share, strengths and weaknesses Internal business strengths and weaknesses Part III – 1500-1800 words Business differentiation - how it will be achieved and perceived by customers Competitive advantage - reasons for which customers will choose your business as opposed to other alternatives Marketing Strategy o Target markets strategy  o    Marketing mix Product  Price   Promotion and advertising  Placement – distribution system  Sales strategy o Sales monthly forecasting – 2 years period Part IV –750- 1000 words Operations Strategy o Business operations model o Buildings, Equipment, Technology, Cars, o Processes – i.e. Imports, Purchases, Production, Marketing, Sales, Warehouse, Accounting, Human Resource Management o o Organizational structure Internal employees and external associates (outsourcing) Part V – 200 - 300 words Financial 2 year projected budgets o Financial model (own capital, loans, external shareholders) chart o Administrative & Operating expenses - chart o Selling expenses- chart o Financial expenses - chart o Break Even Point Analysis (sales amount, sales units, and period point) o Cash flow management Business Plans Templates Websites Examples of Business Plans – Open Source https://www.bplans.com/plastics_recycling_business_plan/executive_summ ary_fc.php How to write a successful Business Plan https://www.scu.edu/mobi/business-courses/starting-abusiness/session-2-the-business-plan/ Financial Projections Model https://www.entrepreneur.com/article/249840 Module Assessment The final examination counts 50% towards the final grade. Pass mark is 60%. ...
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Tutor Answer

ephykam
School: Boston College

Attached.

REVIVING A FAILING BUSINESS
I.

Introduction
a. Company Overview

II.

Situational Analysis
a. SpiceSky Inc. S.W.O. T
b. SpiceSky Inc. Competitor Analysis
c. SpiceSky PEST Analysis

III.

Recommendations

IV.

Conclusion


Reviving a Failing Business 1

REVIVING A FAILING BUSINESS

Student’s Name

Course
Professor’s Name
Institution
City
Date

Reviving a Failing Business 2
Table of Contents
1.0 Introduction ............................................................................................................................................. 3
1.1 Company Overview ............................................................................................................................ 3
2.0 Situational Analysis ................................................................................................................................ 4
2.1 SpiceSky Inc. S.W.O. T ..................................................................................................................... 4
2.2 SpiceSky Inc. Competitor Analysis .................................................................................................. 10
2.3 SpiceSky PEST Analysis .................................................................................................................. 12
3.0 Recommendations ................................................................................................................................. 13
4.0 Conclusion ............................................................................................................................................ 17
References ................................................................................................................................................... 18

Reviving a Failing Business 3
Reviving a Failing Business
1.0 Introduction
In operating a business, various factors could result in the failure of an enterprise leading
to the inability to attain a company’s bottom line. Storey states that a business failure refers to an
enterprise ceasing operation following an inability to make record enough revenues to offset the
incurred expenditures (2016). In most cases companies fails due to failure to generate enough
cashflows. However, a thorough situational analysis of business would assist in exploring the
root cause for a failing business providing essential insights that would assist in the process of
reviving a failing enterprise. This would encompass establishing a SWOT analysis to identify the
weakness and threats leading to the failure of the business as well as PEST and competitive
analysis, which forms the foundation of establishing issues leading to the failure of a company
(Phadermrod, Crowder & Wills 2019). Besides, the business evaluation process enhances
strategic management one of the imperative ways of administering a failing company focused on
aligning the business with the core objectives. Based on the findings, business analysts make
informed recommendation imperative in reviving a business, culminating in the attainment of the
bottom line among other set corporate goals and objectives. For instance, SpiceSky an Indian
food restaurant in the heart of London City over the last 12 months has seen a decline on the
sales, requiring a situational exploration to determine the root cause and implement possible
recommendations to revive the restaurant declining sales.
1.1 Company Overview
SpiceSky is a popular restaurant located at the core of London's City Center. Since its
establishment in the year 1988, the restaurant is well known for its high quality and a wide range
of Indian cuisine. Arguably, since its establishment, twenty years back, SpiceSky restaurant has

Reviving a Failing Business 4
recorded an annual increase in sales. However, Ali Mahal, SpiceSky restaurant owner reveals
that for the last 12 months, the restaurant sales have declined. More importantly, Ali Mahal notes
that despite the decline in sales at his restaurant, other competitors within the town center have
continued to record increased sales. Resulting from this, Ali is concerned with a significant
decline in sales and, thus, seeks expert's assistance in overturning this change. Ali asserts that his
competitor including a large chain of Indian restaurants has vigorous advertising strategies such
as television advertisements as well as attractive promotional budgets. Therefore, the focus of
this research is to investigate and identify the root cause of SpiceSky sales decline for the past 12
months, identify the issues, and provide solutions and strategies that would help Aid in
revitalizing his restaurant and becoming competitive again.
2.0 Situational Analysis
Situational analysis is a process that provides a rational and useful strategy to identifying
and describing certain areas organizational needs, investigating factors leading to the
perpetuation of need, as well as devising solutions to meet or improve the needs (Vrontis &
Thrassou 2006). Situational analysis, in this case, will involve a comprehensive analysis of
SpiceSky Restaurant current satiation including the target situation. The situational analysis will
aid in identifying SpiceSky Restaurant weaknesses and strengths as they relate to external threats
and opportunities. Therefore, this will help the management to choose a position in a restaurant
environment grounded on known information. Thus, the situational analysis using SWOT,
competitor analysis and PEST analysis will help in analyzing SpiceSky current situation.
2.1 SpiceSky Inc. S.W.O. T
Gürel and Tat (2017) define SWOT analysis as a vital tool employed by companies for
strategic management and strategic design. SWOT is a shortening denoting ‘Strengths’,

Reviving a Failing Business 5
Weaknesses’, Opportunities, and ‘Threats’. It is worth noting that a SWOT analysis as stated by
Gürel and Tat (2017) sizes up an enterprise’s resources abilities and deficiencies, the market
opportunities, and the future external threats. Using the SWOT analysis, SpiceSky’s weak and
strong aspect will be identified by analyzing the elements of its current environment while the
threats and opportunities will be determined by assessing the external elements. SpiceSky’s
strengths and opportunities will be helpful in attaining the restaurant objectives whil...

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Goes above and beyond expectations !

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