Assumptions and contingency plan for Starbucks lounge areas 5-8 pages

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Business Finance

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In Milestone Five, you will submit the assumptions and contingency planning, in which you will clearly explain the assumptions you have made in creating your business implementation plan, any factors that may affect those assumptions or the success of the project, and how you have planned for those contingencies. At a minimum, you should discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept; how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained; plans for incorporating stakeholder and customer diversity into planning and implementation of the concept; and the role corporate social responsibility will play in the implementation of you concept.

Critical Elements:

 Explain the assumptions you have made in creating your business implementation plan, including a discussion of any factors that may affect the assumptions or success of the project, and how you have planned for those contingencies.

 Discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept.

 Explain how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained.

 Outline plans for incorporating stakeholder and customer diversity into planning and implementation of the concept.

 Discuss the role that corporate social responsibility will play in the implementation of your concept. Guidelines for Submission: Your draft must contain all of the elements listed above.

It should be 5 to 8 pages in length (excluding the title page, references, and appendices) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines.

You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page.

Unformatted Attachment Preview

MBA 705 Milestone Five Guidelines and Rubric Overview: For the capstone assessment, you will create a business implementation plan and audiovisual presentation for the product, service, or idea you have been developing throughout your MBA coursework. In Milestone Five, you will submit the assumptions and contingency planning, in which you will clearly explain the assumptions you have made in creating your business implementation plan, any factors that may affect those assumptions or the success of the project, and how you have planned for those contingencies. At a minimum, you should discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept; how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained; plans for incorporating stakeholder and customer diversity into planning and implementation of the concept; and the role corporate social responsibility will play in the implementation of you concept. Critical Elements:  Explain the assumptions you have made in creating your business implementation plan, including a discussion of any factors that may affect the assumptions or success of the project, and how you have planned for those contingencies.  Discuss any cross-cultural, economic, and geopolitical factors that may impact the business environment and concept.  Explain how you will ensure that the project operates in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained.  Outline plans for incorporating stakeholder and customer diversity into planning and implementation of the concept.  Discuss the role that corporate social responsibility will play in the implementation of your concept. Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page, references, and appendices) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page. Critical Elements Main Elements Critical Thinking Assumptions Cross-Cultural, Economic, and Geopolitical Factors Proficient (100%) Includes most of the main elements Provides logical conclusions and defends with examples Explains the assumptions behind the plan and includes a discussion of any factors that may affect the assumptions or success of the project and contingency planning Discusses cross-cultural, economic, and geopolitical factors that may impact the business environment and concept Not Proficient (0%) Does not include any of the main elements Does not provide logical conclusions Does not explain the assumptions behind the plan and include discussion of any factors that may affect the assumptions or success of the project Does not discuss cross-cultural, economic, and geopolitical factors that may impact the business environment and concept Value 15 15 12 12 Legally and Ethically Compliant Environment Stakeholder and Customer Diversity Corporate Social Responsibility Articulation of Response Explains how the project will operate in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained Outlines plans for incorporating stakeholder and customer diversity into planning and implementation of the concept Discusses the role corporate social responsibility will play in the implementation of the concept Submission does not have critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Does not explain how the project will operate in a legally and ethically compliant environment, including relevant laws, regulations, or patents or permits that may need to be obtained Does not outline plans for incorporating stakeholder and customer diversity into planning and implementation of the concept Does not discuss the role corporate social responsibility will play in the implementation of the concept Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 12 12 12 10 100%
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Explanation & Answer

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Running Head: MBA 705 Milestone Five

MBA 705 Milestone Five
Name
Instructor
Institution
Date

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MBA 705 Milestone Five
Assumptions and Contingency Planning
Service needs - the new business implementation plan is based on an important
assumption which is that there is a demonstrated need for the service in the marketplace. The
plan assumes that clients are willing to pay an extra amount to be able to use the private lounges
so as to access the extra benefits that include; faster Wi-Fi, a quieter place as well as privacy. All
these extra benefits are accompanied by the normal benefits that accrue to Starbucks clients. The
contingency plan to deal with this assumption involves our competition analysis so as to get a
view of what competitors are doing to deal with the niche identified. The idea is one that has
been implemented in various restaurants. However, it has not been implemented in Starbucks
main competitors such as McDonalds and Dunkin Doughnuts. Other restaurants offer private
lounges as a premium service which helps in promoting customer loyalty and in increasing sales.
The new business plan aims to address these consumer needs in the coffee and beverage cafe
industry.
Sufficient customer-base - the business plan is also based on the assumption that there
are enough consumers who want the service and the products that the private lounges will be
offering. It also assumes that the customer base is enough to help in generating sales that are
adequate to make a profit in the long run. The target market for the private lounges is premium
clients. This includes clients who are willing to pay extra to be able to access the private lounges
as well as clients who are looking for additional services from Starbucks aside from those that
are normally provided with one’s order. It also targets business people who are not willing to
operate from offices or official premises and people looking to have meetings and other
consultations in a casual area. The plan also targets people looking for privacy as well as highend clients who can be able to make Starbucks a meeting point and a place to spend time. Th...


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