Business Essays Business Plan

Business Essays Business Plan Business Plan Introduction To assess the viability of Star of India’s business plan, it is useful to consider three aspects of the plan: Suitability – concerned with whether the business plan fits the internal and external environment that Star of India operates in Acceptability – this refers to stakeholders’ expectations of the business plan Feasibility – this relates to how achievable the business plan is This report will address all three aspects and show whether the plan is viable under each. Suitability Suitability is concerned with analysing Star of India’s business plan based on an analysis of its internal and external environment to obtain its strengths, weaknesses, opportunities and threats. Strengths and Weaknesses Star of India’s strengths and weaknesses, derived from an analysis of its internal resources reveal the following: Money This is a definite strength as the return on capital employed (ROCE), gross and net margins are impressive ROCE calculated as net profit divided by capital employed and multiplied by 100 is 112% for the year ROCE reveals the amount of profit earned from the injection of capital or net assets into the business.   This high ROCE is due to the high net profit made from Star of India’s operations Gross margin calculated as gross profit divided by sales multiplied by a 100 is 75% Gross margin reveals that Star of India is efficient in converting the cost of goods sold into income from sales Net margin is calculated as net profit divided by sales and multiplied by 100 – i.e. 46% It compares how much profit Star of India makes when compared with  £1 of income.   It shows how effective the business will be in controlling its expenses These figures show that the plan is suitable from a financial perspective. Break-even is expected to occur between August and September, by which time the total sales revenue will equal total cost for the period.   The margin of safety, i.e. the excess of expected sales over break-even sales is approximately  £490,000 (i.e. total sales for the year minus total sales from April – August 2006). Marketing Marketing is a key consideration.   Good money is being spent on advertising.   Advertising in the industry is mainly through word of mouth and leaflets.   By advertising through television and radio, the possibility to gain increased business is real. As Star of India is an unknown quantity, it is vital that a lot of effort and money should go into marketing.   However, the business could use its considerable profits to invest more in Marketing/advertising. The price being charged for its dishes contributes to the high profits, but the question that needs to be addressed here is, is it suitable to achieve competitive advantage?   If the prices are below or match industry average then it is suitable – if not, then customers would rather go to an established competitor.   The prices charged are competitive. The plan has accounted for seasonal variation as demand should rightly decrease during the summer months due to holidays. Opportunities and Threats In this industry, the main issues are: The extent of competitive rivalry The social behaviour of the population Power of customers Health and safety issues Because the competition is fierce, Star of India must ensure the prices it charges at least matches the industry average.   Otherwise, customers (who have a lot of choice due to the numerous competitors) will eat elsewhere, bearing in mind Star of India is a new entrant to the restaurant business.   Therefore, matching industry average could be a threat as the Star of India brand is yet to be discovered and trusted People eat a lot outside their homes nowadays (social behaviour) due to increasingly busy lifestyles, this consequently means that the opportunities for getting a good customer base exist. Health and safety issues are very important to the government (who can close down business if unsatisfied with their health and safety initiatives or lack of it) and customers would basically like to eat in a clean environment – this provides an opportunity for Star of India. Acceptability For the business plan to be acceptable, it must meet the needs of the main stakeholders, who in this case are: The owner The customers The Government The employees These people will have different needs.   The business plan, on the whole will be acceptable to these shareholders due to the following: The owner The owner is interested in: Making a profit Increasing the number of customers Reducing costs The plan reveals that all of these will be met. As mentioned previously, ROCE, gross margin and net margin forecasts are impressive indeed and would no doubt exceed the management’s expectations especially during the first year of operation.   There is also a positive cash flow in all but one month.   This is important for the business to be able to honour its credit commitments as they fall due.   Star of India can also use the profits to grow the business.   The plan also indicates an increase in the customer base, starting with 1820 customers in April and ending the year with a forecast of 7000.   Again, this indicates a growth plan, which should be acceptable to the owner. Although costs will be rising, this will be at a slower rate than revenue – again, this is acceptable. The customers will be interested in obtaining quality food, at competitive prices in a clean environment, delivered with good customer service.   Star of India is confident of achieving all of these. To achieve the service needs of customers, the employees need to be well trained and highly motivated.   The plan for the next financial year is to use the profits to train and develop new and existing employees and also to reward them through incentives. The government needs to ensure that Health and Safety standards are being met, taxes are being paid and that customers and employees are not being exploited – consequently, Star of India is confident that the government will be acceptable. Feasibility The employee and management are experienced, therefore, delivering quality food through superior customer service is feasible. The business plan reveals there are enough resources to meet the costs of the business – arguably too much resource.   How many new businesses could make such vast amounts of money?   The plan has barriers in the form of competitive rivalry, so the forecasts could be at risk of being regarded as too optimistic, admittedly. The prices charged may need to be reviewed, if they are too high.   Even if they reflect industry prices, it would be advisable to lower them as Star of India is a new business.   This will ensure more customers who are made aware through advertising, will be attracted to the eatery, thus making the sales forecasts more realistic.   This could be done as a promotion, for instance, for six months. More money could also be allocated to advertising from the vast amount of profit to ensure the optimistic customer targets are achieved. Conclusion The plan is very viable, when taken into account its suitability and acceptability. However, although it appears feasible, Star of India could be a bit cleverer to achieve high market share and thus competitive advantage by cutting its prices – this should make it more feasible. The business should be an immense success if these factors are taken into account.   BIBLIOGRAPHY www.bized.ac.ukwww.businessknowhow.comwww.moneychimp.comwww.nonprofits.orgwww.smalltownmarketing.comwww.unb.ca

Lisa Bright & Dark Essay -- essays research papers

John Neufeld is the author of â€Å"Lisa Bright & Dark†. He lives and works in New York City these days. He was educated at Yale. His style of writing are usually touching stories. Finding information about John Neufeld is quite difficult since the Internet nor the book has provided any help whatsoever. Lisa Shilling is the main character of this book. She is just sixteen as she slowly loses her mind. Lisa is quite an example of teenager with problems which is why she’d be classified as a very real character. Her dangerous state of mind reflects the realism that this does happen. Her moods are forever changing. Lisa’s motivation as a teenager is to live her live normally. This is hard to do since she is in need of help. Many can relate to Lisa and her illness because it is among teenagers today. Her mother and father snub her off completely overlooking her serious unstableness. Luckily, she has friends that care enough to help her. The main conflict of this book is the struggle to convince Lisa’s parents that she is ill and needs serious help. Her parents did not pay attention in the beginning when Lisa started to act a little different. This is rather understandable. Lisa was in school and pricked herself with a needle that drew blood. Many told Lisa’s stubborn parents that she needed a psychiatrist. They simply refused to accept the fact that their daughter was in need of anything. When Lisa even screamed out that she needed help, they simply wouldn’t understand. She even w...

Mystery Shopper Next

For our marketing Research project we were required to carry out extensive research on the topic of mystery shopping. This project required us to construct a mystery shopping programme of a service business. The service business that was chosen was Next, a renowned retailer for fashion and homeware. The project will outline the objectives of the research and the mystery shopping programme.It will also examine the results of the programme and suggest possible recommendations. Methodology The primary objective of the report was to find out the public’s perception of Next. In order to attain this information, we decided it was best to initiate a mystery shopper programme. This programme involved hand-picking ten individuals, based on age, sex, and location, to act as consumers in Next. Each individual was to enter the chosen store and to return honest feedback on their experience, through the use of a questionnaire.The drafted questionnaire examined areas such as store layout, st aff, and ambience. The objective of this was to access direct knowledge of consumers opinions in areas that were outlined in the questionnaire and mystery shopper briefing. In order to eliminate bias, each selected individual was briefed on understanding the questionnaire and what aspects of the shop were to be examined. The chosen method provided us with objective feedback which was essential in the completion of the report. Findings In this section of the report we will show our findings of each store that was visited.Altogether there were seven stores visited. (Sligo, Enniskillen, Letterkenny, Athlone, Castlebar, Limerick and the store in the Jervis shopping centre in Dublin). These are our findings: Sligo The Sligo store is located in the quayside shopping centre in Sligo town. The store was visited on four occasions. On each occasion the store was clean and tidy on the inside and out. On every visit the changing rooms were tidy. The outside of the shop was attractive and inviti ng towards customers, with posters advertising a sale and an entrancing and eye catching clothes display in the window.The store is completely wheelchair accessible. No one was greeted as they entered the store, on one visit members of staff were standing around talking amongst themselves, and only one person thought that there was a welcoming atmosphere in the store as it was warm and there was calming music being played. Three out of four people were pleased with the temperature within the shop with one person thinking the air conditioning was turned up too high. The clothes on display were easy to reach for three out of four of the customers, with the same amount finding that all sizes were on display.Only on two of the visits were the staff wearing the correct uniform, such as name badges. On just two out of the four visits the staff asked if assistance was needed and only one customer said that eye contact was made with them and that they were polite. At the till there was an a verage of 1-4 till kiosks open with less than five people in each queue. On all four visits it did not take long to get served and all of the customers were thanked for shopping at the store, but found that the exit signs were not clearly illuminated.All four people said that they would recommend the Sligo store to others. The overall opinions of the store varied. One out of the four customers said that it was perfect. Out of the other three, more helpful staff, a new layout, lower shelves and a bigger store were mentioned. Enniskillen The Next store in Enniskillen is located in the Erneside shopping centre in Enniskillen. This store was visited on only one occasion. On this occasion the entrance and the outside of the store were clean and tidy. The inside was also tidy.It was attractive on the eye and the changing rooms were spotless. The outside of the shop looked attractive and inviting due to the black and white theme on the outside of the shop which ‘Next’ is renow ned for. The store is wheelchair accessible. The customer was not greeted by any member of staff on entrance to the store and thought the atmosphere was not welcoming as it was dark inside the store. The customer thought that the temperature in the store was comfortable. They were not asked however by any member of staff if they needed assistance.The customer found that some of the rails in the store were too high but all sizes were stocked and that the staff were helpful when asked about the sizes, but not all members of staff were wearing a name badge. At the checkout four checkouts were open and there was less than five people in the queue, and did not have to wait long to get served. The customer was thanked for shopping at the store and found that the exit signs were clearly visible. This customer said that they would recommend this store to others and that the staff were quite friendly but could have been more helpful.They’re overall opinion was that the store could be bigger with more or better lighting conditions. Letterkenny The Letterkenny store is located in Letterkenny Retail Park. This store was visited on one occasion. On this occasion the outside of the premises was not clean and tidy and did not look attractive and inviting to customers as it looked dirty. The store is wheelchair accessible. On entering the store the customer was not greeted by a member of staff and the atmosphere was not welcoming as the music in the store was very faint and couldn’t be heard clearly.Other than that the inside of the store was clean, tidy and attractive. The temperature in the shop was fine also. No member of staff asked the customer if they needed assistance. The customer was not able to reach some of the clothes as they were hung too high. Not all the sizes were displayed and stocked but the staff did check to see if they had the size in the store room. The changing room was tidy and uncluttered. When the customer got to the till four tills wer e in operation, there were more than five people in the queue and it took six minutes for them to get served.The staff at the checkout were described as friendly and thanked the customer for shopping in the store. The exit signs were clearly illuminated. The customer said their overall experience of shopping in the store was disappointing but acceptable. The customer also said that they would not recommend this store to others because not all sizes were stocked and the atmosphere in the shop and the customer service was poor, and suggested having more staff on the floor. Athlone The ‘Next’ store in Athlone is located in the Athlone Town shopping centre, just off the M6 motorway.This store was visited once only. The entrance to the store was clean and tidy and the outside of the store was attractive and inviting to customers. The store is wheelchair accessible. When the customer entered the store they were not greeted by anyone. The atmosphere within the shop was not wel coming as there was no music being played in the store, but the temperature was acceptable. The inside of the store was attractive, but the changing rooms were not tidy and unsatisfactory. The clothes were easy to view and reach but not all sizes were displayed.No member of staff asked if the customer needed assistance, but they were polite and helpful when getting a bigger size for the customer. All staff were wearing full uniform including name badges. When the customer got to the checkout there were four tills in operation and did not take long to get served. They were not thanked for shopping at the store but said the checkout staff were friendly and the exit signs were clear and illuminated. The customer said that they would recommend this store to others as they had a good overall experience in the store but feel that more staff are needed.Castlebar The Castlebar store is located in Lannagh Road Retail Park which is a five minute walk from the main street in Castlebar. The ent rance to the store was not up to standard as it was not clean and tidy, although the front of the shop was. The store is wheelchair accessible. When the customer entered the store they were greeted by a member of staff, and due to this made the atmosphere of the store feel welcoming. The inside of the store itself was clean and attractive and the temperature of the store was fine. A member of staff offered assistance, with a smile and good eye contact was made.All staff were wearing the correct uniform with their name badges. All of the sizes were displayed on the rails and they were easily accessible. The changing room was clean and tidy. At the till only a limited number of tills were in operation with less than five people in the queue and it took around three minutes to get served. The customer was thanked for shopping at the store and the exits were clearly marked and illuminated. This customer would recommend this store to others due to the friendly and welcoming atmosphere, b ut suggests better parking facilities. LimerickThe Limerick store is located in the Crescent shopping centre in Limerick which is situated two miles outside of Limerick city centre. The entrance to the shop was not clean and tidy and was blocked by a stand, this did not make the store look attractive and inviting to customers, although it was bright and lit up, the stand spoilt it. The store is wheelchair accessible. The customer was not greeted by a member of staff on entering the store and the atmosphere was not very welcoming. Also the store did not have a modern feel to it, which ‘Next’ would have a reputation for being.The store was not clean or tidy either. The temperature in the store was not sufficient as the customer found it very stuffy. One of the good points about this store was that a member of staff did ask if the customer needed assistance but did not smile or make eye contact while doing so. The staff were wearing the correct uniform including name badge s. The clothes were easily reachable on the rails but not all sizes were displayed or stocked and staff were not helpful when asked for another size. The changing room was clean and tidy.At the checkout there were 1-3 checkouts in operation with more than five people in the queue. It took ten minutes to get served, and the checkout staff did not speak. The customer was not thanked for shopping at the store but the exit signs were clear and illuminated. This customer would not recommend this store others due to not being felt welcomed or comfortable in the store and believes that the store should be renovated. Dublin There are many next stores in Dublin but the one that was visited was the one located in the Jervis shopping centre in Dublin city centre.This store was visited on one occasion. The entrance to the store was not clean and tidy but the outside of the store looked attractive and inviting due to the window display of the stores clothing. The store is wheelchair accessible. On entering the store the customer was not greeted by a member of staff, but the atmosphere was welcoming and the temperature in the store was nice and warm. The inside of the store was clean, tidy and attractive. The customer was not asked by any member of staff if they needed assistance. The clothes were easy to view and reach, and all sizes were displayed.The changing room was clean, tidy and uncluttered. At the till there were between 1-3 checkouts open, there was less than five people in the queue, it did not take long to get served. The staff were not neatly dressed and wearing their name badges but they were polite and made good eye contact with the customer and thanked the customer for shopping at the store. The exit signs were not clearly illuminated in this store. The customer would recommend this to others as the staff were very friendly. But said that they should be better dressed. RecommendationsIn this part of the report we outline the recommendations that we would mak e to Next based on our findings from the mystery shopping exercise. These are our recommendations: Firstly we believe that they should retrain right across the board. From shop assistants right up to managers. There should be a strict set of rules implemented into this training and an exam must be passed by all employees. The employees will then get a certificate to say that they have completed this. The managers would have to complete a more advanced course, dealing with all the topics the employees have to with a few added extras.During this training the following must be covered. Employees 1. Customers must be greeted when they walk in the door to make them feel welcomed. 2. Staff must ask customers if they need assistance within thirty seconds of them being on the premises. 3. When speaking to customers, speak politely and mannerly and eye contact must be made. 4. Correct uniform must be worn at all times. Especially a name badge. 5. Staff must make sure that the changing rooms are clean and clutter free at all times. 6. Make sure all sizes are on display. 7.If there is a substantial queue at the till, get another staff member to open another till. 8. Always thank the customer for shopping at the store. Managers 1. Make sure the outside of the premises is kept clean. 2. Delegate different employees to particular jobs. And make sure everybody knows what there job is. 3. Make sure that the music in the shop is on, clear and loud enough so the customers can hear it but not so loud that it is deafening. 4. Keep on top of the uniform issue as this was one of the weak areas of the mystery shopping survey.Secondly we believe that you should have a review of all your stores and try and complete any work that needs to be done. Such as a new layout or renovation. For example. The store in Limerick was described as not very modern. Next is well known for having a fashionable range of clothing and if the shop does not reflect this image then customers will not come in to the store. Another example would be a lot of rails have been described as too high. You could combat this by making them lower or having a hook that customers would use to reach the clothing. Finally we would recommend that you should look at your staffing policy.On a number of visits to your stores it has pointed out that if there was more staff then it would have been a better shopping experience. Even one more extra staff member per store would make a huge difference. Conclusion Overall, the project was a huge success. The implementation of the Questionnaire gave us valuable opinions which were vital in being able to recommend changes for the service. The physical aspect of the mystery shopper enabled us to gather first hand, unbiased information which would have been very difficult to receive, had another method of research been chosen. Appendices:

Exercise Among College Students Exercise - 1182 Words

Abstract Obesity has been a struggle that Americans have been trying to fight over the years but according to study’s many Americans don’t exercise at all. Although exercise is encouraged to Americans the obesity rates continue to increase. College students are vulnerable to weight gain because of the environment and obstacles that surround them. A survey was conducted at the University of Texas at El Paso asking the students questions towards exercising. This literature review will inform the reader how exercise plays an important role in a student’s life benefiting them in a variety of ways. Exercise among college students: A Review of Literature Many individuals become concerned about their weight and talk†¦show more content†¦Lack of exercise affects all individuals in any type of discourse community. Therefore college students should be encouraged to get exercise being that the students are vulnerable to gaining weight through college. Nelson (2009) expresses how parents are the encouragers and they report that 52% of students do not get exercise. If parents can encourage students to study, make friends, and join sports then why don’t they encourage them to exercise? Many college students are not aware of the importance of exercising and the benefits it comes with. A survey was taken at the University of Texas at El Paso asking the college students how important exercising was to them. Figure 1 shows the results: Out of 23 students 11 felt like exercising was extremely important. There was 2 students who believed exercise was slightly important which explains the numbers of Americans participating in physical activity going down. According to Desai (2008) â€Å"overweight and obesity are increasing nationally† (p. 1). In some cases lack of knowledge toward exercising can result in not getting the amount of exercise needed for the body and brain respond properly. Aballay (2013) informs the audience that the â€Å"National comparative studies found that the prevalence of obesity in the adult population is over 20% in 17 of 20 Latin American countries† (p. 2). The obesity rates are high in many countries; many have adjusted to this new lifestyle. According to Knopp (2010) the average weightShow MoreRelatedLack of Exercise Among College Students Essay691 Words   |  3 PagesLack of Exercise among College Students For most people it is common knowledge that maintaining an active lifestyle and exercising on a daily basis is essential to a healthy life, research shows that approximately fifty percent of all college students see a decrease in regular exercise following high school graduation (Kilapatrick 2005). The decline of regular exercise displays a problem in more then a few colleges; the correlation of increased sedentary lifestyle and decreased physical activityRead MoreThe Importance Of Physical Education1361 Words   |  6 Pages Today’s generation of college students have been infected with social media poisoning, which places little to no importance on physical activity. Their idea of exercise consists of how fast their fingers type. Immediate changes need to be implemented in the education system to avoid serious long-term effects. College physical education courses are designed to promote a healthy lifestyle through education and exercise. The main objective of the education system incorporating physical educationRead MoreThe Effects Of Physical Inactivity On College Students920 Words   |  4 Pagessuggests that approximately 36.7% of all college students are overweight/obese, with numerous at risk for weight gain throughout the college years (McDaniel, Melton, Langdon, 2013). â€Å"Emerging adults, such as students transitioning from home to a collegiate environment, savor the independence and responsibility of making their own decisions† (Musselman Rtledge, 2010). Such autonomy can l ead to poor dietary choices and physical inactivity. Sustained over the college years, these lifestyles might explainRead MoreThe Role Of Peer Pressure On College Students1235 Words   |  5 PagesThe college culture praises unhealthy behaviors, such as binge drinking and the use of drugs such as marijuana, for us immature and still developing young adults. A popular reason for why college students partake in this extremely unhealthy behavior is the phenomenon we have been taught in schools and experienced all our lives: peer pressure. Authors, Nancy P. Barnett, Miles Q. Ott, Michelle L. Rogers, Michelle Loxley, Crystal Linkletter, and Melissa A. Clark, of the article, â€Å"Peer AssociationsRead MoreThe Effects Of Stress Among College Students Essay855 Words   |  4 PagesOver the years many studies have been conducted to determine what creates stress and how college students can cope with stress. Stressors in a student’s life can be created through personal, educationa l and social experiences. A student faces many experiences while transitioning from high school, to college, and into adulthood. These experiences include: living arrangements, personal finances, important career decisions, experiences of failure, interpersonal relationships, and personal financesRead MoreStress Experience By Millennial College Students Essay1505 Words   |  7 Pages Stress in College Students Helen W. Bland, Bridget F. Melton, Lauren E. Bigham, Paul D. Welle Georgia Southern University, University of Georgia, Carnegie Mellon University Author’s Note Helen W. Bland, Department of Public Health, Georgia Southern University; Bridget F. Melton, Department of Health and Human Science, Georgia Southern University; Lauren E. Bigham, Department of Counseling Psychology,University of Georgia; Paul D. Welle, Department of Engineering and Public Policy, CarnegieRead MoreNewton s First Law Of Motion Essay1458 Words   |  6 Pagestwenties. Because a major portion of this age category is in college, it is crucial for universities and community colleges to provide physical education to help students achieve and maintain a standard level of physical and mental fitness outside and inside the classroom. At one time, the American physical education programs were producing strong bodied and strong willed children. The common gymnasium was no less than an arena for students to release pent-up energy and to display their physical abilitiesRead MoreRecently, More And More People’S Bodies Started To Have1381 Words   |  6 Pagescalled exercise. I think everyone is familiar with this word, and we always meet people who exercising in our daily life. Such as students who like to run in downtown or on university campus, a few of student workout at the gym, and so on. Even for some old people, they also like to join the pace. I have been keep doing some simple exercise every day in the past 3 months. Right now, I have lost almost twenty pounds. so I would like to share some experiences about what kind of benefits exercise can provideRead More Critiquing Internet Sources The author is keen in analyzing the issue of excessive consumption of800 Words   |  4 PagesInternet Sources The author is keen in analyzing the issue of excessive consumption of alcohol among college students. He acknowledges that excessive drinking is a common problem among college and university students and wants to explore why such students indulge in such a risky behavior. The author uses a reliable number of students when looking at the drinking problem and chooses the correct age, which is students below 21 years (Dodd et al, 2010). The results of the author’s research are reliable andRead MoreHuntingdon College. Huntingdon College Has A Tiny Campus1017 Words   |  5 PagesHuntingdon College Huntingdon College has a tiny campus of only three acres in a pleasant neighborhood of Montgomery, Alabama. The campus is listed on the National Register of Historic Places. Around 1,100 students attend the traditional day and adult evening degree completion programs. Students from almost every county in the state attend Huntingdon College. Huntingdon College is consistently listed among the top best colleges in the region. They are a member of the Tree Campus USA program. The