5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies Updating Your Plan Your quest for financing may take many months, and your plans for your company may change during that time, especially if yours is a new enterprise. You want to make certain that your written plan is always reasonably current with your actual business strategy and position. So, before sending out a plan to a new financing source, review its contents and update it. Bring your financial information up to the close of the last month or quarter, revise your financial projections to reflect recent developments, and add descriptions of any new members of management. “read.If youIt’sput your plan in a secure area on a website, then it’s a convenient way to get the plan to potential people to easy to read it, to print it, but it’s much more accessible than paper. It’s a lot less for me to carry if I want to read it at home or on the road. I can download it to my flash drive and read it on a plane. I could print it and throw it away, knowing it’s always there for me to read.” Mark Gorenberg Venture Capitalist Chapter Summary The appearance of your business plan should be of the same high quality as its contents. It should be a good representation of you and your company. Prepare your plan with care, and include active language, graphs and charts, and attractive page layouts and businesslike typefaces. Pay attention to the final touches such as the cover sheet and table of contents. Once you have completed your written plan, review and edit it carefully — and update it as needed. Before you distribute it, you may want to draw up a Nondisclosure Agreement for less sophisticated investors, potential employees, suppliers, and the like to sign. Consider preparing a slide presentation, as more­sophisticated investors will want to see one before even looking at the written plan. You may also want to put your plan online on a password­protected site. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 1/6 5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies 12 CRITICAL SLIDES Title slide: your company’s name, a short company description, name of presenter(s) if presenting in person. Your elevator pitch: a succinct description of your products or services, market, and competitive advantages. Use vibrant language, and if possible, embed audio or video to demonstrate your product or service. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 2/6 5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies Size of opportunity: this is what investors — VCs even more so than angels — want to know. To what size can your company potentially grow and what are your plans for future development? Your specific target customers: who they are and the customer needs that your product or service will meet. The market size: numbers and dollars, past growth, growth forecasts. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 3/6 5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies The competition: division of market share, how your product compares to theirs, your value proposition in comparison to the competition’s, and barriers to entry. Your team: who they are, their past successes and experience, and why they are qualified to do the job. The business model: how you will distribute your product, pricing strategies, how you will reach your customers. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 4/6 5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies Milestones: a time line that outlines when you expect to reach key achievements. Financials: a brief summary of key points from your income statement, balance sheet, and/or cash flow projections. Funding: how much you are asking for in this round, how many future rounds are expected, how much you will request during those rounds, and how the funds will be used. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 5/6 5/30/2017 Strayer University Bookshelf: Successful Business Plan: Secrets & Strategies The investment opportunity: potential exit strategies and financial return for investors. https://strayer.vitalsource.com/#/books/9781933895475/cfi/6/72!/4/178@0:0 6/6 Running Head: BUSINESS PLAN FINANCIALS Business Plan Financials Lorenzo Boatman BUS 599 1 BUSINESS PLAN FINANCIALS 2 Business Plan Financials Jazzy café strategic techniques will focus on getting and retaining new customers as well as having them to spend more money and coming back more often. The foundation of a loyal customer is significant because such customer basics will not only offer favorable recommendations but also increase sales. Company’s strategic techniques will particularly help the organization on ways to organize and allocate resources that face the entire company (Jackson, 2004). Competitive advantage Jazzy Café will particularly position itself uniquely as a coffee company in which the consumers can not only enjoy a cup of coffee but also the ambient surrounding. The customers ought to enjoy comfortable chairs and sofas and the best lighting and music for relaxation from daily stresses of life. This technique will work very well to the advantage of the company from inescapable competitors (Jackson, 2004). Sales technique Jazzy Café is interested in the proper handling of sales transactions. To speed up the company’s customer service, the company has formulated the strategy of two employees working to serve the clients. While one of the employees serves a client the other will be preparing the orders. In broader terms, the company strategy is dedicating quality time and service to their clients and frequent customers. Company sales in the Jazzy cafe's compilation are expected to be computerized for later analysis and marketing purposes. To expand its base, the company is also BUSINESS PLAN FINANCIALS 3 interested in the use of fliers, banners and customer referrals within their community (Jackson, 2004). Forecasting of transactions Assumptions for the cost of beverages in Jazzy café is set to dictate the seasonality of sales. For instance, the company expects more income on schooling days and low income during learner’s vacation. The official plan is set to be very professional and refined for an easy and fast live planning (Jackson, 2004). Hiring the management team To oversee the full program Jazzy café will hire a manager to overlook daily work operations at the company. The hiring technique is very important because the company will focus on the manager’s experience and current dedication in employment. Qualities to be considered in hiring will depend on the manager’s ability to manage staffs, supply concerns, inventory orders, marketing strategy and the manner of dealing with suppliers. Generally, the company is set to discuss profit sharing management based on the initial year operation outcomes (Jackson, 2004). Filling Management gaps Jazzy café is aware of chances of loopholes in the company’s management. Just as a normal company management gaps may never miss during the daily running of the business. Despite being experienced in the industry, the company has strategies in place to control cases of unfinished businesses in the company. To achieve the same, the company will primarily adopt consultation services, customer satisfaction surveys and market research to combat any arising or issues not catered for in the team of workers (Jackson, 2004). BUSINESS PLAN FINANCIALS 4 To create a plan for implementing Jazzy café’s management in case of change in current operations it is significant to apply the defender strategy The defender strategy plan The defender strategy is very important for Jazzy Café to protect itself from current operations in the market of new competitors. The defender strategy works through restraining of innovation and creativity in bringing out different products and services. This strategy would be very helpful in reducing costs and improving the performance of the current beverages in Jazzy Café. Essentially, the strategy involves maintaining the current product which is coffee in this case. The defender strategy is very appropriate because it will give Jazzy café an opportunity to maintain its current market share rather than additional growth in the beverage business (Griffin, 2012). • Exerting internal leadership The process of exerting the internal leadership required to determine the implementation of strategic initiatives and improve operating excellence is very important in business planning. To apply internal leadership and improve excellence in Jazzy café it is crucial to adopt the following strategies (Sinha, 2009 ). Visionary strategy The strategic vision will act as the route that Jazzy café intends to follow in strengthening and developing the company. This phase is the right direction for the company to follow with regards to future customers, products market technology. Essentially, the visionary strategy offers a long-term direction which instills a purposeful action in the company. Similarly, the visionary BUSINESS PLAN FINANCIALS 5 step provides a room for communication of company aspirations to stakeholders. To improve operating excellence, strategic vision helps in reducing threats and creates a commitment enterprise for making the vision a reality (Sinha, 2009 ). Setting company objectives The company objectives present the quantifiable goals in line with the company’s mission. The objectives tend to inform on what ought to be accomplished and the timeline for the same. Well stated company objectives will help in performance at full potential and deliver the best possible results. Essentially, Jazzy café will set the objectives at levels that stretch on performance to full potential (Sinha, 2009 ). Crafting on vision and objectives success. Crafting the vision and objectives is mainly a market-driven activity. Jazzy café will particularly involve identification of desired capabilities and competencies to achieve its competitive advantage. To successfully apply the move the company will appropriately use environmental information to achieve a sustainable higher performance (Sinha, 2009 ). Implementation and execution of the strategies Implementation and execution is a tough activity and consumes time that the latter process. That happens because of various managerial activities that await performance and most significantly engaging change or resistance doomed to occur. Jazzy café will be more involved in gathering desired competencies to upgrade accordingly and modifying them as the existing market continues to evolve (Sinha, 2009 ). Evaluating performance BUSINESS PLAN FINANCIALS 6 While performance is the results of an activity the strategies above are necessary to the company. Evaluation is very important for Jazzy café to encourage correct adjustments and execute new ideas and management processes. The process is purposely vital to excel and trigger the points for making decisions focused on the company’s vision and necessary opportunities (Sinha, 2009 ). Issues in strategic management The major focus of Jazze café’s company is maximizing profits and satisfying its customers. Most significantly, the need to be up-to-date is very crucial in serving differentiated and high-quality beverages. Essentially, high-level machines and technology are beneficial in the creation of new and various unique flavors. Strategic management particularly important in clear planning on integration and adopting of current machinery in the business. Despite the facts above, Jazze café ought to be aware of distinctions of beverages market and focus on creating a special spirit in their own outlets (Hubbard, 2014). Different issues that may arise in Jazzy café’s business on strategic management includes management of early morning demands of coffee. As a common beverage served hot at daybreak it is very critical to determine ways to satisfy all its customers at all times. To achieve an efficient customer service the company will have to ensure that such machines as automatic espresso machines are introduced in the company (Hubbard, 2014). Pricing is also a major issue in strategic management. With value on customers, customer prices may vary based on the surrounding community. However, it is important for Jazze café to create a sense of price-value ratio to all its customers and customer referrals to avoid BUSINESS PLAN FINANCIALS 7 disappointments. In essence, the company planning is wholly involved in commoditizing its brand and ensuring that it is of high quality always (Hubbard, 2014). Time management is also part of the strategic management concerned with Jazzy café. In this light, Jazzy café’s strategic management plan is set to ensure that machines adopted to enable them to make coffee in a very short time at lowered price than other players in the same industry. In order to enhance low resistance to the company’s product, Jazzy café is very much focused on ensuring simplicity and affordability of their products (Hubbard, 2014). Conclusion In conclusion, the beverages industry is an attractive market that gives the market companies an opportunity to offer their services to many coffee users. Lastly, experiences in all the market participants give Jazze café an opportunity to penetrate the market and apply strategic management skills to offer an unexceptional service to its customers. BUSINESS PLAN FINANCIALS 8 References Griffin, R. W. (2012). Management. Boston: Cengage Learning. Jackson, K. T. (2004). Building Reputational Capital: Strategies for Integrity and Fair Play that Improve the Bottom Line. Oxford: Oxford University Press. Sinha. ( 2009 ). Management Control Systems A Managerial Emphasis. New Delhi, India: Excel Books India. Graham Hubbard, J. R. (2014). Strategic Management. Docklands, Victoria: Pearson Australia. Running Head: JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN Jazzy Café’s Ethics and Social Responsibility Plan Lorenzo Boatman BUS 599 1 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN Jazzy Café’s Ethics and Social Responsibility Plan Jazzy Cafe’s main objective is impacting lives of millions of people across the globe. The company is aware that failure to identify the impact of their decisions can lead to negative effects on the surrounding communities, shareholders and the environment. Thus, it focuses on the creation of a well-written code of ethics in giving a blueprint on how the company’s decisions would affect the community. With each product Jazzy Café sells, it seeks to uphold its commitment to quality and endeavor to source the products in an environmental and socially responsible manner (Brennan, 2005). Following are the company’s considerations in being a good corporate citizen. Creating employment. Jazzy Café intends to create employment to better serve its clients and the community alike. The company’s effort aims at the issue of unemployment among the young people because they have potential and talent. The young categories include school dropouts who have never experienced employment regularly (George, 2015). In most cases, young people lack training or skills required for the current jobs. Jazzy café plans on creating a platform that creates opportunities for the youth without jobs. Proper planning in the company will take the form of involvement in providing first level careers to the adolescents and developing their skills for better paying positions. To that end, the company looks forward to teaming up with institutions to launch online training programs for their employees (George, 2015). Fair and Honest Treatment of Employee 2 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN For Jazzy Café social responsibility is part of the company daily business. In this light, the company plans on ensuring that employees get fair treatment and appreciation to feel a sense of connection to Jazzy Café. Most significantly, the company is dedicated to the provision of a great working environment. That includes benefits and better pay to the employees. On the other hand, the company is focused on fostering communication within a between groups. Purposely the company dedication lies on improving online tools and consolidating publications appropriately. Fair treatment of subordinates and higher ranked employees is also part of company’s strategies to promote teamwork (George, 2015). Following laws of every jurisdiction in Jazze Café.s operation Jazze café’s commitment pertaining to food and beverages laws is specifically very significant to the company’s ethical plan. The company plan seeks to follow and observe the standards that regulatory agencies set in monitoring the compliance of companies in the food and beverage industry. Primarily, the company plan concentration is on product safety claims, food import regulations, advertising and accurate labelling of products. Similarly, Jazzy café intents to cover the social responsibility plan includes, keen observation of business laws, personal injury and food and beverage contracts. Relating to such laws, the company’s position is becoming a major player in fighting such as obesity by limiting sugar portions in every beverage (Mudd, 2013). Non-discrimination of employees and increasing diversity of your work force 3 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN Jazzy café major objective is ensuring that there is no discrimination of any form and increasing diversity in the workplace. The company code of ethics is set to work in such a manner that the workers perceptions does not discriminate ones religion, personality, race, gender, education or organization function among others. The major drive for the company ought to proper and effective communication in the place of work. The company is working towards adaptation of employees from various backgrounds for cultural understanding (Mudd, 2013). Achieving social environmental goal Jazzy Café guiding principle is positive contribution to the environment. One way that the company plans on provision of a convenient way to serve hot beverages or rather coffee is the use of paper cups. The convenience of paper cups is reduction of environmental impacts of disposable cups within the country. The social-environmental advantage of this move is the postconsumer recyclable fiber of the cups. The cup will purposely work in place of plastic cups that pollute the environment (Brennan, 2005). In addition, the company emphasis is on the understanding and improvement of the environmental footprint. Jazzy café outlook is on opportunities beyond gaining customers for a cup of coffee, but also on their interest on environmental performance and how business is run. The company works towards an environmental footprint and initiatives to change lives of people through high level performance (Brennan, 2005). Effect of Company Activities on the environment 4 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN Activities on the environment such as purchasing Fair Trade Certified coffee is one way that Jazzy Café plans to support the network of listed coffee cooperatives. In particular, this company plans to work together with the fair trade in promotion and increasing demand of Fair Trade Certified coffee to raise the sales. On the other hand, the company is particularly planning to form a collaboration on global distribution of coffee (Brennan, 2005). On the other hand, Jazzy cafes is offering a platform together with several social investment firms to ensure availability of loans to coffee growers in order to encourage them as they sell their crops. On the other hand, the company embraces the idea of recyclable cups which are environmental friendly. Most importantly, the company’s idea is discounting offers to customers that reuse their own cups. This will indeed be a positive gesture towards the society social wellbeing and first favorable move towards safety. Rather than use of plastic cups paper cups which is also the plan in place for the company is automatically one of the ways to protect the environmental pollution (Brennan, 2005). Health issues Despite the campaigns to advocate for Jazzy cafes main product which is coffee the company is aware of the negative and the positive issues related. Through advertising and creating awareness the company will utilize the strategies to ensure they reach the specific target market (Abrams, 2003). Facts about coffee shows that it is a stimulant and it increases ones heart rate and blood pressure both of which are not necessary for pregnant women. Through television commercials and poster ads, Jazzy Café is committed to giving true and verified information on the benefits and disadvantages of coffee. For instance, strategies put in place include awareness on the benefits for Alzheimer patients and discouraging pregnant women from using the product 5 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN because of it can be worrisome to pregnant mothers and people with osteoporosis, diabetes and high blood pressure (Brennan, 2005). Conclusion Just like other people, everyone feels the natural desire to impact his or her community positively. Companies also intend to create wealth for their shareholders and ensure that they do not cross ethical boundaries. As demonstrated in Jazzy Cafes ethics and social responsibility plan, short term financial gains may not lead to long-term company’s success but proper planning in advance bears many fruits for corporations to enjoy for a longer period. As highlighted above, Jazzy café is dedicated to ethical standards to become successful in emerging beverages market. Nevertheless, the company is particularly involved in finding ways to sustain the environment, improve communities and promote its employees welfare. 6 JAZZY CAFÉ’S ETHICS AND SOCIAL RESPONSIBILITY PLAN References Abrams, R. M. (2003). The Successful Business Plan: Secrets & Strategies. London,UK: The Planning Shop. Brennan, D. (2005). Corporate Social Responsibility: The Corporate Governance of the 21st Century. Alphen aan den Rijn, Netherlands: Kluwer Law International. George, B. (2015, July 22). Learning from Starbucks on job creation. Retrieved May 25, 2017, from CNBC: http://www.cnbc.com/2015/07/22/learning-from-starbucks-on-job-creation commentary.html Mudd, M. (2013, March 16). How to Force Ethics on the Food Industry. Retrieved 5 26, 2017, from New York Times: http://www.nytimes.com/2013/03/17/opinion/sunday/how-to force-ethics-on-the-food-industry.html 7 5/30/2017 https://blackboard.strayer.edu/bbcswebdav/institution/BUS/599/1156/Week9/Week 9 Assignment 4 Grading Rubric.html Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 70 Assignment 4: Presentation Unacceptable Fair Proficient Exemplary Below 70% F 70­79% C 80­89% B 90­100% A Criteria 1. Create a 12­slide presentation. Follow the outline on pp. 343–346 for the critical slides of your presentation and their placement. Weight: 70% 2. Clarity, writing mechanics, and formatting requirements Did not submit or incompletely created a 12­slide presentation. Did not submit or incompletely followed the outline on pp. 343– 346 for the critical slides of your presentation and their placement. Partially created a 12­ slide presentation. Partially followed the outline on pp. 343–346 for the critical slides of your presentation and their placement. Satisfactorily created a 12­ slide presentation. Satisfactorily followed the outline on pp. 343–346 for the critical slides of your presentation and their placement. Thoroughly created a 12­ slide presentation. Thoroughly followed the outline on pp. 343–346 for the critical slides of your presentation and their placement. More than 6 errors present 5­6 errors present 3­4 errors present 0­2 errors present No references provided. Does not meet the required number of references; some or all references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices. Weight: 20% 3. 3 References Weight: 10% https://blackboard.strayer.edu/bbcswebdav/institution/BUS/599/1156/Week9/Week%209%20Assignment%204%20Grading%20Rubric.html 1/1
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