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Running head: BUSINESS PLAN 1
Business Plan
Name
Institutional Affiliation
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BUSINESS PLAN 2
Summary of Problem-Solving Strategies
Writing a business plan is a daunting yet necessary task that future business owners must
complete. There are many challenges that individuals should be ready to face and handle.
However, with the appropriate problem-solving techniques, individuals can produce quality
documents with enough information to convince investors and direct them to success. In
developing the business plan for the proposed Alpha Coffee House to be located in Santa Ana,
several techniques were used to ensure the business considers all factors, secures more funding,
and becomes a sustainable venture.
The first approach in problem-solving is identifying existing and potential problems.
Here, I started by differentiating fact from opinion, appreciating underlying causes that might be
overlooked, but focusing on the root cause. This process is critical as it leads to reviewing and
documentation of operations and the assessment of the impact of new tools and solutions.
Secondly, I examined alternative solutions and selected one after a careful analysis of the pros
and cons. After implementing these alternatives, it is equally critical to evaluate the solution's
impact and if it adequately solves the problem.
I also employed the use of techniques such as the Porter Five Forces model in
determining which location might be the most suitable for the business. The location is a crucial
part of the business plan. The model suggested by Porter helps in examining the intensity of
competition, industry profitability, and the attractiveness of a market (Chartered Global
Management Accountant, 2013). SWOT analysis is another technique that was invaluable in
determining how the external environment of Santa Ana will interact with the internal
environment of Alpha Coffee House.
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BUSINESS PLAN 3
References
Chartered Global Management Accountant. (2013). Porter's Five Forces of Competitive Position
Analysis. Retrieved 30 September 2020, from
https://www.cgma.org/resources/tools/essential-tools/porters-five-forces.html

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Running head: BUSINESS PLAN 1 Business Plan Name Institutional Affiliation BUSINESS PLAN 2 Summary of Problem-Solving Strategies Writing a business plan is a daunting yet necessary task that future business owners must complete. There are many challenges that individuals should be ready to face and handle. However, with the appropriate problem-solving techniques, individuals can produce quality documents with enough information to convince investors and direct them to success. In developing the business plan for the proposed Alpha Coffee House to be located in Santa Ana, several techniques were used to ensure the business considers all factors, secures more funding, and becomes a sustainable venture. The first approach in problem-solving is identifying existing and potential problems. Here, I started by differentiating fact from opinion, appreciating underlying causes that might be overlooked, but focusing on the root cause. This process is critical as it leads to reviewing and documentation of operations and the assessment of the impact of new tools and solutions. Secondly, I examined alternative solutions and selected one after a careful analysis of the pros and cons. After implementing these alternatives, it is equally critical to evaluate the solution's impact and if it adequately solves the problem. I also employed the use of techniques such as the Porter Five Forces model in determining which location might be the most suitable for the business. The location is a crucial part of the business plan. The model suggested by Porter helps in examining the intensity of competition, industry profitability, and the attractiveness of a market (Chartered Global Management Accountant, 2013). SWOT analysis is another technique that was invaluable in determining how the external environment of Santa Ana will interact with the internal environment of Alpha Coffee House. BUSINESS PLAN 3 References Chartered Global Management Accountant. (2013). Porter's Five Forces of Competitive Position Analysis. Retrieved 30 September 2020, from https://www.cgma.org/resources/tools/essential-tools/porters-five-forces.html Name: Description: ...
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