Friday, December 27, 2019

To Build or Buy a Small Business Essay examples - 2047 Words

402 Small Business Professor, Ricardo Toye | To Build or Buy | Week 4 Assignment 1 | Cornelius Gaskins 1/22/2013 | Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. â€Å"It Bakes Good,† with a delicious flavor that is sure to please. Watching customer’s satisfaction is the goal. Developing a Bakery as a counter business with a competitive strategy to navigate through barriers set up by existing Bakeries is the plan at hand. The initial bakery is deals with pastries, breads, croissants and coffee, teas and other beverages. This†¦show more content†¦The usage of the current customers has an appeal since the current business operations has been consistent on the profit where the purchasing of inventory and the cash register receipts have indicated. The lack of similar Bakery businesses in the general area continue to be a plus for the location and buying the existing Bakery would limit competition for awhile. Considering remodeling cost, purchase price as opposed to starting a new business cost buying the existing business appears to be a better financial bargain. For the existing business the baking and dishwashing equipment are in satisfactory working order. The purchasing a grill to prepare food has a reasonable cost and the food prep area is already in place. The dinning area will require the purchase of tables and chairs that would have to be bolted to the floor during remodeling. Comparing the requirements for initiating a new business as opposed to buying an existing business, the buying of the existing business has the better appeal based on how the later is up and running. While the new business has some hurdles may exist as far as the condition of theShow MoreRelatedAdvantages of Starting Up a Business1109 Words   |  5 PagesAdvantages of Starting up a Business * Being your own Boss  - you can make your own decisions, keep your own time and not have to answer to The Boss * Hard Work amp; Know How  - If you are a hard worker and / or have immense industry know how, you may want to benefit from the long hours you do or the knowledge that you have acquired over time. * Financial Independence  - One day, you may realise your dream of financial independence * Creative Freedom  - no more restrictions, youRead MoreAnalysis Of Geoffrey B. Small Is Big On Quality, Customers, Community970 Words   |  4 PagesCase Study 1.2 â€Å"Geoffrey B. Small is Big on Quality, Customers, Community† is about a leading fashion designer that does not want his customers to think about the brand name, color, style or price of the fabrics they wear. Small’s wants his customers to be â€Å"thinking about the quality and origins of the fabrics you wear, their impact on the environment, and your own view of social responsibility as a customer.† Even if the customer cannot afford his clothing he wants them to understand his missionRead MoreThe Groundswell By Charlene Li And Josh Bernoff898 Words   |  4 PagesThe â€Å"Groundswell† book by Charlene Li and Josh Bernoff is an excellent novel that brings upon on the struggle to connect the power of social technologies. Li is an independent thought individual who is one of the lea ding voices of the business use of social media technologies and she is the founder of Altimeter Group Bernoff is the vice president at Forrester Research. The context of this book gives reader a comprehensive idea of how our world is being converted by social technologies and how weRead MoreSocial Media, No Matter The Size864 Words   |  4 Pagesthree quarters (73%) of small business owners said they access social networks on smart phones or other mobile devices, yet 67% are holding back investing in social media because they don t know where to begin.† (Heath, 2011) Social Media is without a doubt the new kind of business. However, small businesses are falling behind because even though they use these platforms personally, they wonder how these same tools used for entertainment, can be used to enhance the business. What they don’t realizeRead MoreEssay about The Finance Department of Tesco773 Words   |  4 PagesThe Finance Department of Tesco Tesco started of as a soletrader, its finance functions were carried out by Jack Cohen. A finance function is to raise enough finance to be able to afford to carry out the business, also to cost and price the product. Now as tesco is a larger PLC (public limited company) its functions are carried out by departments were the finance director is responsible for, Mr. Andrew Higginston. The finance department based at tescos is now the centralRead MoreHow You Start Your Business?1019 Words   |  5 Pagesstart your business? Starting a small business isn’t easy, but it isn’t impossible. According to the small business administration 99% of all businesses in the United States are small businesses and they employ 80% of the population, so many people have already succeeded in starting a business. But this doesn’t mean that starting a business is a walk in the park, according to Forbes 8 out of 10 businesses fail within the first 18 months. There is a lot of hard work required in starting a small businessRead MoreBenefits Of Entrepreneurs At The World1318 Words   |  6 PagesEnglish 4, Period 8 30 January 2015 Benefits of Entrepreneurs When people take a close look at the world today they can see an abundance of producers and consumers. Consumers buy and producers sell, but there is more to it than that. People have to work and so the producers can sell, producers must supply so that the consumers can buy and so on. It is truly a never ending chain reaction of buying and selling. In order for the economy to run, people to live, and so many other crucial parts of a daily lifeRead MoreBuying Local : Selling Local1169 Words   |  5 Pagesdoes not sound so fresh any more, does it? Buying local is the best way to avoid our not so fresh, fresh foods. It also can allow us to buy higher quality goods like clothes and household items. Buying local is the idea of not shopping at big box stores like Walmart and Target, but rather going to farmer’s markets and other stores that are unique to the community to buy produce and other goods. Buying local can do more than just provide us fresher produce and higher quality goods; it also can improveRead MoreDifference Between B2B and B2C Marketing997 Words   |  4 Pagesdeveloping the right types of activities for your particular market. B2B †¢ Relationship driven †¢ Maximize the value of the relationship †¢ Small, focused target market †¢ Multi-step buying process, longer sales cycle †¢ Brand identity created on personal relationship †¢ Educational and awareness building activities †¢ Rational buying decision based on business value B2C †¢ Product driven †¢ Maximize the value of the transaction †¢ Large target market †¢ Single step buying process, shorter salesRead MoreDifferences Between Family And Non Family Businesses1663 Words   |  7 PagesBeehr, T., Drexler, J., Faulkner, S. (1997). Working in Small Family Businesses: Empirical Comparisons to Non-Family Businesses. Journal of Organizational Behavior, 18(3), 297-312. Retrieved from http://0-www.jstor.org.helin.uri.edu/stable/3100146 This article looks at the differences between family and non-family owned businesses. The article states that much literature on this topic focuses on

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.