Apa Papers 11 Unit 2 Individual Project Macro Button Do Fiel
Apa Papers 11unit 2 Individual Projectmacrobutton Dofieldclic
APA Papers 11unit 2 Individual Projectmacrobutton Dofieldclic APA Papers 1 1 Unit 2 Individual Project MACROBUTTON DoFieldClick Type your Name Here MACROBUTTON DoFieldClick Type your Paper Title MACROBUTTON DoFieldClick Class Code MACROBUTTON DoFieldClick Class Name Project Type: Unit 2 Individual Project MACROBUTTON DoFieldClick Date of Submission Abstract NOTE: no indentation is required. The next page will be an abstract; “a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of the article quickly” (Publication Manual, 2001). The length of the abstract should be xx words (x sentences) depending on the length of the body of the paper. MACROBUTTON DoFieldClick Type your Paper Title Introduction Remember to always indent the first line of a paragraph (use the tab key).
The introduction should be short (2-3 sentences). Brand loyalty interview: the brand and its competition Introduce the concept and cite the resources DO NOT use the exact words… be sure to indent the first line of the paragraph. Analysis of interview: brand equity and brand positioning Introduce the concept and cite the resources DO NOT use the exact words… be sure to indent the first line of the paragraph. Brand research: market segments and targets Introduce the concept and cite the resources… be sure to indent the first line of the paragraph. Brand research: brand equity over time Introduce the concept and cite the resources… be sure to indent the first line of the paragraph. Brand research: brand positioning Introduce the concept and cite the resources… be sure to indent the first line of the paragraph. Conclusion Add some concluding remarks-can be a sentence or two. NOTE: · If you are not at the end of with content, your paper is too short (if you used graphs or charts, your paper should be longer) · Do not insert extra spaces between paragraphs to make your paper appear longer. · If you are beyond with content, your paper is too LONG. Do not change the font or margins to make the paper appear shorter or longer DELETE THIS TABLE BEFORE SUBMISSION General Form for Citation From the 5th Edition of the Publication Manual (© 2001) One Work by One Author Walker (2000) compared reaction time....
In a recent study of reaction times......supported earlier research (Walker, 2000). In 2000 Walker compared reaction times. Within a paragraph, you need not include the year in subsequent references to a study as long as the study cannot be confused with other studies cited in the work. In a recent study of reaction times, Walker (2000) described the method.......Walker also found.... One Work by Multiple Authors When a work has 2 authors, always cite BOTH names every time the reference occur.
Smith & Jones (2000) compared reaction time.... In a recent study of reaction times......supported earlier research (Smith & Jones, 2000). When a work has three, four, or five authors, cite all authors the first time the reference occurs; in subsequent citations, include only the surname of the first author followed by et al. (not italicized and with a period after "al"). Wasserstein, Zappula, Rosen, and Smith (1994) found that [Use as 1st citation text] Wasserstein et al. described [ Use as subsequent citation per paragraph thereafter ] Two or More Works Within the Same Parenthesis Order the citations of two or more works within the same parenthesis in the same order in which they appear in the reference list.
Past research... (Edeline & Weinberger, 1991, 1993). Earlier research indicated... (Balda, 1980; Kamilm 1988; Pepperberg & Furik, 1990). If no author is stated: (Short Title of Article, year). The punctuation goes after the citation not at the end of the sentence References DELETE THIS TABLE BEFORE SUBMISSION General Form for Electronic References From the 5th Edition of the Publication Manual (© 2001) NOTE: A reference list is presented alphabetically by author's last name Note: Some elements of the 5th edition's style guidelines for electronic resources differ from previously published guidelines. Electronic sources include aggregated databases, online journals, Web sites or Web pages, newsgroups, Web- or e-mail-based discussion groups, and Web- or e-mail-based newsletters. Online periodical: Author, A. A., Author, B. B., & Author, C. C. (2000). Title of article. Title of Periodical, xx, xxxxx. Retrieved month day, year, from source. EXAMPLE: Reinartz, Werner, Thomas, Jacquelyn S., Kumar, V. (2005). Balancing acquisition and retention resources to maximize customer profitability. Journal of Marketing, v69, Issue 1. Retrieved 6/13/2005, from Business Source Premier. Print Resource: Electronic Resources: 1 To Build or Buy Introduction Any Business is based on the following four basic steps :- 1. Planning 2. Organization 3. Leading 4. Control Business is always built up on a strategy. Business management is the art, discipline, and craft of verbalizing, implementing and appraising cross-functional conclusions that will allow a company to attain its long-term purposes. It is the procedure of stipulating the organization's assignment, vision and purposes, developing strategies and plans, often in relations of projects and databases, which are intended to achieve these purposes, and then assigning resources to device the strategies and plans, schemes and programs. Strategic administration seeks to direct and assimilate the actions of the several functional zones of a business in direction to accomplish long-term and short-term managerial goals.
My visit to a business I want to relate a business of utility store which I observe once a month or occasionally for the purpose of grocery and having basic necessities of life. The business strategy to set up a grocery store can be of various types like :- · Financial strategy plan (Functional strategy plan) · Marketing strategy plan (Business/promotional strategy plan) · Corporate Strategy plan Diverse types of retail productions will incur unlike types of start-up charges due to a variety of inventory wants. Much of the monetary control is based on the availability of resources, budget plan and range of human resources available. The startup cost is the main factor that decides many levels of a retail operation which all business owners require to achieve long term and short term goals of the business.
Strategy for a business concept that would directly compete with the small business you selected Strategic making for any business is the top most level of any administrative role in the organization. Strategies are classically planned, fashioned or directed by the Owner or hired manager of the store. Strategy for a business concept that would directly compete with any other store running in the same market can be followed according to the following steps :- · Defining the vision and mission of the business · Know your customer type · Learn from the competition of the market · Describing short term and long term objectives of the business · Financial budget planning · Recognizing the marketing strategy · Controlling the flaws Such type of strategy provides inclusive direction to the creativity and is carefully related to the betterment and progress of the business.
In the field of grocery store business, it is valuable to know about the strategic alignment and strategic consistency of the business. There is a strategic consistency when the movements of a business are consistent with the prospects of management, and these in chance are with the marketplace and the situation.(Arieu, 2007). Whereas the retail store I visited was not following this strategy planning. This is the reason why this store lacks behind in the market competition. Now a day, modern technology has taken over and market competition between the brands is tough.
It is hard to run a business more distinctively and more successfully. So a manager should have the innovative and creative sense to implement new strategic policies with the passage of time. 2. Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain your reasoning.
In my opinion, it would make more sense to open a new business with the new strategy planning that has customer satisfaction at the top of the list of its missions and goals. Because the old business is just working on no particular planning. They have no incentives for the consumers. The budget planning level is low and they do not agree to put money on promotional and operational campaigns. They do not understand the need of time or market competition.
Hence, the new business implemented would follow the following steps to create a new strategy :- •Recognizing the target market type : The first and foremost step for creating a new grocery store business plan is recognizing and understanding the type of target market present there. Focusing on customer needs up to 80% and focusing on the resources of the business up to the range of 20 % is important. It really makes intellect then to undeviating the time and energy towards those consumers who are covering the major profit area of the business. For example, if a large number of consumers buy the sugar packets as it is the basic need then these sugar packets should be more focused. The sugar must be refined and clean.
So that it may fulfill the needs of the consumer completely. •Select the most suitable Target Market : the drive to do this is to further be eligible and regulate which client’s needs are meeting the corners of success. The strategy is to place the business at the similar level as the mainstream of the customers to be targeted. It is serious to symbolize the best and regular customers that visit the store on daily or weekly basis so that the position in the market can be identified. •Classify Tools, Strategies and Approaches : The rule of thumb is that the market which a business do not recognize is the market that the business cannot serve. And making customers aware of your particular product or service is important.
It is significant to create an impact of your brand that customers will be firm to buy the product by your brand name. For this purpose, tools, strategies and approaches should be adopted by the new business which are being used in the markets and services. For example, now a days online marketing of a product is in a trend. Various business gives advertisement of their product or service online on internet so that international market can also watch it. •Test Marketing Tools : the expectations we do not confirm are characteristically the ones that have the possibility to generate business difficulties. Time should be taken to test all business conventions, particularly when they are making major expenses.
3. Discuss the most appropriate form of ownership for your new business (assuming your current financial situation). The form of business ownership defines how a business is officially and lawfully set up. The legal structure of the business is mentioned in the ownership. Mostly there are three forms of ownerships of a business :- · Sole proprietorship · Partnership · Corporation Business ownership and type of business are two different things to be analyzed.
In the start of any business to be launched, it is very important to choose a right form of ownership. According to the new business set up strategy, sole proprietorship will be the best option for retail store. Every form of ownerships has its own rules, regularities and responsibilities. The corporation and partnership have more liabilities and responsibilities to be fulfilled as compared to sole proprietorship. So the most effective form of ownership for a small new business would definitely be sole proprietorship.
The procedure to get a business registered and legalize is different for each form of ownership to be handled. It depends upon the culture, community, the legal institutions and most importantly what rules and regulations are to be followed over there. A sole proprietorship is also known as a sole trader. It is a kind of business entity that is possessed and tracked by single owner and in a condition where no difference of laws is to be followed between the business and the owner of the business. The owner obtains all revenues with the implementation of the taxation laws followed by the country at that time and has limitless responsibility for all sufferers and obligations.
Every advantage of the store is possessed by the proprietor and all arrears of the business are the responsibility of the owner which is called as proprietor. It is a sole proprietorship in difference with corporations. A sole proprietor may utilize a trade term or business designation other than lawful name. It is very significant to use any form of ownership as a tool and strategy to any business for achievement of its goals. A professional consultant can be hired in many businesses for this purpose to have a right consultation method.
4. Outline a business plan for your business Running a successful business always needs a business plan to be followed. A business plan outline is the first document a company or business owns in which mission, vision and other goals are written. The outline of a business plan is given as follows :- Title Page TABLE OF CONTENTS I. EXCLUSIVE SUMMARY In this section a specific description of the business and the rules on which it is laid is explained. The methods and ways how a plan should be implemented is explained. The financial and operational budget of the plan is described. The human and financial and operational resources required by the business are explained in this section. II. BUSINESS DESCRIPTION In the second section of the business plan, the business, its history is mentioned, how and why it is made? What are the inspiration ad motives behind a business. The missions, motives and goals to be achieved in the next ten years is explained in this section. What are the main industry trends, market technology etc is mainly explained in this section. What is the type of organization, the form of ownership, management, personnel and legal advisors are hired in the next five years will be discussed in this section. III. THE MARKETING PLAN A very important section is the market analysis. What are the trends focused in the market, the competition trends, products, facilities and incentives provided to the customer. Similarly, location analysis and strategy for fixing prices, the rate of sales and other marketing strategies. IV. THE OPERATIONS PLAN The implementation plan is focused in this section of the business plan. The materials and sources of supply is done by which means? The decision to build or buy a warehouse where all the products are manufactured or imported from the other city. What will be the methods of production? The services or products will be manufactured for what timeline? Similarly, recordkeeping and bookkeeping of all the raw material is observed. Other issues like legal complications, risk management and retail marketing methods are also analyzed in this section. V. THE MONETARY PLAN All the financial and operational dealing is analyzed in this section of the business plan like cashflow projections, bank statements, calculations of fixed and liquid assets, liabilities, capitals, revenues, incomes generated from the business for the next five years is being planned under this section of the document. Financial statements analysis and break even analaysis is also done. This section is considered to be the backbone of the business plan because it defines the resources a business holds.
VI. APPENDIX All the back up of any business is planned in this section of the business plan where resumes of the employees to be hired or currently hired are submitted, their job descriptions, portfolios, salary packages, leave rules, promotion strategies is being analyzed as according to the budget and rules of the company. The paln of interior, maps and exterior building mapping is saved in this section, all confidential documents related to the business is saved in this section of the business plan. Products and services photos are also mentioned in this. Concluding Summary It is very easy to create a business plan but it is not easy to create an effective business plan. It is important to evidently define what one business is actually selling. Obviously, no business can make a strategy that is acceptable or effective for all kinds of businesses but every plan is connected with the nature of business one is trying to set up. Those factors must be controlled side by side that can have a negative impact on the business. For small businesses like grocery or retail stores, the best strategy is to diversify the products and services into various market segments. As far as specialization in the business is concerned, small operations can offer specialized products and services for the particular buyers. A market survey is again the key that plays the vital role in implementing any business strategy to a new business. References Eric S. Siegel, Brian R. Ford, Jay M. Bornstein (1993), 'The Ernst & Young Business Plan Guide' (New York: John Wiley and Sons) ISBN Pinson, Linda. (2004). Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business and Securing Your Company’s Future (6th Edition). Page 20. Dearborn Trade: Chicago, USA. Lisa McQuerrey, L. (N.D.). Demand Media. Start Up Costs for Running a Retail Business. Chrone. Retrieved from :- Greg Balanko-Dickson. (2009). BPlans. Business Startup Strategy. Retrieved from: Ward, S. (2008). Forms of Business Ownership. Small Businesses in Canada. Retrieved from :-
Paper For Above instruction
Creating a comprehensive business plan is an essential step for establishing a successful retail grocery store. This process involves strategic planning encompassing market analysis, ownership structure, financial planning, and operational guidelines. The core of any business’s success lies in understanding initial market conditions, competitive landscape, and resource management, which inform the development of targeted strategies.
Firstly, developing a clear understanding of brand loyalty and market competition is vital. Brands compete based on perceived value, quality, and customer engagement. Conducting interviews and collecting data on brand equity and positioning helps identify areas for improvement and differentiation. For instance, a local grocery store lacking competitive brand positioning needs strategic realignment to enhance customer perception and loyalty, especially by leveraging modern marketing tools such as digital advertising and social media marketing (Keller, 2013).
Market segmentation and targeting are fundamental to business success. In the context of grocery retailing, understanding demographic, geographic, and psychographic customer bases enables tailored offerings. Focused product lines, like specialty sugar or organic produce, cater to specific consumer needs, increasing market penetration. Quantitative and qualitative research methods, such as surveys and focus groups, help ascertain customer preferences and guide inventory decisions (Kotler & Keller, 2016).
Over time, tracking brand equity metrics reveals the impact of marketing strategies and operational improvements. Consistent branding and quality service reinforce customer loyalty, which correlates with increased sales and enhanced market share. Strategic positioning involves emphasizing unique selling propositions, such as organic products or competitive pricing, to position the store effectively alongside competitors (Aaker, 1996).
Determining the most advantageous ownership structure depends on financial capacity and risk management preferences. For a small retail venture, sole proprietorship presents a flexible and straightforward legal setup. It allows the owner to retain full control and profitability while minimizing administrative complexity. However, this structure also entails unlimited liability, emphasizing the importance of careful financial planning and risk assessment (Ward, 2008).
A detailed business plan encompasses several key components: executive summary, business description