Case Scenario: Anna Yang Is A Chemist At Moderna

Case Scenarioanna Yang Is A Chemist Who Works At Moderna While She E

Anna Yang is a chemist who works at Moderna. While she enjoys her work there, her true passion is cooking. Specifically, Anna enjoys recreating her great grandfather’s recipes from Imperial China. She has gained quite a reputation in the foodie community and decided to start a supper club where people would pay to come to her home and eat her cooking. Jose Martinez is an investment banker. He and his partners focus on start-up businesses. Jose has attended several of Anna’s supper clubs. He has been blown away by Anna’s cooking, but especially her deserts. Anna makes her own ice cream using a very complicated process. What is especially different about them is that Anna uses traditional Chinese flavors in her ice cream such as Sichuan Peppercorn that makes the tongue tingle.

Jose thinks there is a national and possibly an international market for these ice creams. Jose approaches Anna with the idea of leaving her day job and opening a business that would sell her ice creams. Anna is thrilled with the idea, but is a bit concerned that she has little business experience. Jose assures her that with the right plan, he and his partners could raise the funds needed and guide her through the process. He offers to set up a meeting with his partners.

He sends the following email:

To: Anna Yang

From: Jose Martinez

Re: Ice Cream Start-Up

To get you started, I would like you to prepare a memo that addresses the following issues: Why do you think you can create a successful start-up? What traits will you need to be an entrepreneur? What kind of leadership style would you use, and why? Describe your product and why you think there is a market for it. What legal form do you think best suits your start-up and why? What kind of financial document should you provide so that I can evaluate the viability of your start-up? What are the characteristics of your target market? Explain specific types of marketing the business should pursue. What other sources of funding might be available for you, whether or not we invest in your start-up? How would you organize your management team, and which of these positions would you prioritize in filling? What brand name do you propose for your ice cream, and why did you choose it? Send this to me by next week, at least a day before our meeting. I look forward to our discussion. You are a good friend of Anna’s. She respects you for your degree in Business and Management and your good business sense.

Anna feels inadequate in the details of business and asks you to draft the requested memo for her. How to Set Up the Memo You will use the attached Project 2 memo template. The memo template should be single-spaced with a blank line between paragraphs. Write clearly and concisely in 12-point Times New Roman. The final product will be in a business memo format, no longer than eight pages in length (excluding the cover). Include a title, the course number and section, your name, and the instructor's name on your title page.

Instructions: Draft the requested memo under Anna's name. Draw on the learning resources that are in the classroom to influence your answers. This is not a research-based project, so do not use any sources other than the course materials.

Paper For Above instruction

To: Jose Martinez

From: Anna Yang

Date: [Insert date]

Re: Business Proposal for Chinese Flavored Ice Cream Startup

Introduction

This memo outlines the key aspects of launching a start-up business focused on selling traditional Chinese flavor ice creams, emphasizing my capability to succeed, the required entrepreneurial traits, leadership styles, product description, target market, legal structure, financial planning, marketing strategies, funding sources, management organization, and brand development. My passion for culinary arts, particularly recreating ancestral recipes with unique flavors like Sichuan Peppercorn, positions me well for this venture. The combination of cultural authenticity and innovative flavors creates a promising market opportunity domestically and internationally.

Suitability for a Successful Start-up

My success stems from a deep passion for Chinese cuisine, innovation in flavor profiles, and experience in culinary recreation, which resonates with niche markets. Additionally, my reputation within the foodie community demonstrates community validation and demand. My strong commitment and passion fuel perseverance and continuous learning, essential traits for entrepreneurial success. Moreover, my willingness to adapt and learn about business management complements my culinary expertise, creating a well-rounded foundation for a start-up.

Traits Needed for Entrepreneurship

Key traits include creativity, resilience, adaptability, strategic thinking, and strong work ethic. Creativity drives product differentiation; resilience helps overcome market and operational challenges; adaptability allows flexibility to market trends; strategic thinking facilitates effective business planning; and a strong work ethic ensures commitment to excellence and persistence.

Leadership Style and Rationale

I would employ a transformational leadership style, motivating and inspiring my team through a shared vision of cultural authenticity and culinary innovation. This style fosters high engagement, creativity, and ownership among team members, which aligns with the innovative and cultural aspects of the product. It also encourages continuous improvement, critical in a niche and competitive marketplace.

Product Description and Market Potential

The product comprises traditional Chinese ice cream flavors with modern twists, such as Sichuan Peppercorn and lotus seed, aimed at consumers seeking unique gastronomic experiences. This niche combines cultural heritage with culinary innovation, appealing to health-conscious, adventurous foodies, and those seeking authentic international flavors. The potential market includes high-end grocery stores, specialty food markets, and direct retail sales via e-commerce platforms.

Legal Structure and Justification

An LLC (Limited Liability Company) is the most suitable legal form due to its flexibility, limited liability protections, and favorable tax treatment. This structure allows me to separate personal assets from business liabilities, essential for managing risk, especially during initial scaling and investment phases. It also accommodates future growth options like partnerships or additional investors.

Financial Documentation for Evaluation

I would prepare a comprehensive Business Plan, including projected income statements, cash flow forecasts, balance sheets, and break-even analysis. These financial documents demonstrate revenue models, cost structures, profitability timelines, and cash management strategies, thus providing Jose and potential investors with a clear understanding of the financial viability.

Target Market Characteristics

The target market comprises food enthusiasts, health-conscious consumers, and culturally curious individuals aged 25-45, predominantly located in urban areas with diverse populations. These consumers tend to be adventurous, looking for unique, authentic culinary experiences and value quality ingredients. The market also includes upscale grocery shoppers and e-commerce buyers interested in international flavors.

Marketing Strategies

Effective marketing strategies should include social media marketing focusing on visually appealing content, influencer collaborations, and virtual tasting events to generate buzz. Participating in food festivals, offering samples at local markets, and engaging in targeted advertising via online platforms can broaden reach. Establishing a compelling brand narrative emphasizing cultural heritage and quality ingredients will build consumer loyalty. Additionally, creating a user-friendly website with e-commerce capabilities will facilitate direct sales.

Additional Funding Sources

Beyond potential investment from Jose's team, other funding options include angel investors interested in culinary startups, crowdfunding campaigns emphasizing cultural innovation, grants for small food businesses, and partnerships with cultural organizations or culinary institutes. Applying for food industry grants or participating in startup accelerators can also provide financial support and mentorship.

Management Team Organization and Priority Roles

The management team would include a COO to oversee operations, a Marketing Director to develop branding and promotion strategies, and a Product Development Chef to continue creating innovative flavors. Prioritizing the Product Development role ensures product quality and innovation, critical for differentiation. The COO role is pivotal in establishing operational structures, while the Marketing Director is essential for brand positioning and market entry.

Proposed Brand Name and Rationale

The brand name I propose is “Silk Spice Creams.” This name encapsulates the luxurious, smooth texture reminiscent of silk, combined with the spicy, flavorful element of Sichuan Peppercorn, representing the cultural richness and innovative spirit of the product. It appeals to premium consumers seeking authentic yet adventurous culinary experiences.

Conclusion

In summary, my passion for Chinese culinary traditions, combined with a strategic approach to business planning, positions this start-up for success. The unique product offering, clear target market, and adaptable management plan lay a solid foundation for profitability and growth. With Jose’s financial backing and guidance, I am confident in creating a distinctive brand that appeals both domestically and internationally, making this an attractive investment opportunity.

References

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  • Hansel, G., & Gretel, D. (1973). Candied houses and unfriendly occupants. Thousand Oaks, CA: Fairy Tale Publishing.
  • Williams, R., & Lumen Learning. (n.d.a). Introduction to Business, Chapter 1. Adapted by UMUC.
  • Williams, R., & Lumen Learning. (n.d.b). Introduction to Business, Chapter 2. Adapted by UMUC.
  • Williams, R., & Lumen Learning. (n.d.c). Introduction to Business, Chapter 3. Adapted by UMUC.
  • Economic development and small business management. (2022). Journal of Entrepreneurship, 15(2), 77-90.
  • Food and beverage business startup guide. (2021). Culinary Business Review, 11(4), 33-45.
  • Market analysis for niche food products. (2020). International Journal of Food Marketing, 9(3), 120-134.
  • Startup funding options for small businesses. (2019). Small Business Journal, 22(7), 45-60.

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