This Week's Assignment: Envisioning A Business Idea

This Weeks Assignment Consists Of Envisioning A Business Idea And Sub

This week's Assignment consists of envisioning a business idea and submitting a one page minimum paper in which you identify the business including its mission, vision, primary product or service, and describe a SWOT analysis relative to its planned expansion. In this Assignment on creating a business SWOT analysis, you will engage in developing the following professional competencies: problem solving and critical thinking by analyzing qualitative data in decision making. You are the owner and CEO of a business. Your business has eight locations. Each location has a location manager (who is the middle manager), a supervisor (who is the frontline level manager), and four employees.

Your strategic goal for the business over the next five years is to expand into another geographic region and to increase the number and types of products or services your business provides. Choose a product or service that you would like your business to primarily provide. Compose a paper that begins by identifying the business type, stating your primary vision and mission for this business, and briefly describe (in one paragraph or less) the product or service your business provides to its customers. Then, referring to your assigned readings and other classroom preparatory materials regarding SWOT analysis, type a paper of at least one full double-spaced page, describing at least one potential strength, one potential weakness, one potential opportunity, and one potential threat that could influence or affect your strategic goal of expanding your business over the next five years.

Write your Assignment in paragraph form, using Microsoft® Word®. Your document should be at least 1 double-spaced page in length, using size 12-point type size. This Assignment should be free of spelling and punctuation errors. Submission Instructions: Draft your Assignment paper at least 1 double-spaced page in length, using size 12 point font in MS Word format. Be sure your paper is well written in paragraph form, with correct spelling, grammar, and punctuation. Be sure to name your file according to the Kaplan file-naming convention.

Paper For Above instruction

The envisioned business for expansion is a boutique coffee shop chain, aiming to provide high-quality, ethically sourced coffee and accompanying beverages to diverse urban communities. The primary mission of this business is to offer a premium coffee experience that emphasizes sustainability, community engagement, and excellent customer service, while the vision is to become a leading regional provider of specialty coffee with a reputation for social responsibility and innovation. The main product offered will be specialty coffee beverages, including single-origin espresso, lattes, cold brews, and organic teas, with future plans to incorporate health-conscious options such as dairy-free and low-sugar drinks.

Conducting a SWOT analysis for this business reveals various factors that could influence its growth trajectory. One significant strength is the company's commitment to sustainability and ethically sourced products, which resonates with environmentally conscious consumers and enhances brand loyalty. This strength could provide a competitive edge as the business expands into new markets with similar demographic preferences. A potential weakness is the limited brand recognition outside the current regional markets, which may pose challenges in attracting new customers at new locations. Additionally, establishing brand trust in new regions may require significant marketing investments. An opportunity for growth lies in the increasing consumer interest in specialty and health-conscious beverages, which aligns with the business's product offerings. Expanding into regions with burgeoning urban populations receptive to artisanal coffee could maximize this opportunity. Conversely, a major threat is rising competition from large coffee chain corporations that have extensive resources and brand presence, potentially overshadowing a smaller or emerging brand. Competitive pricing strategies or loyalty programs may be necessary to defend market share. Furthermore, economic downturns or supply chain disruptions could threaten the availability and cost of ethically sourced coffee beans, impacting profitability and operational stability. This SWOT analysis underscores the need for strategic planning to leverage strengths and opportunities while mitigating weaknesses and threats, ensuring sustainable growth over the next five years.

References

• Hook, J. (2017). Strategic Management: Concepts and Cases. Pearson.
• Hill, C. W., & Jones, G. R. (2012). Strategic Management Theory: An Integrated Approach. Cengage Learning.
• Gamble, J. E., Peteraf, M. A., & Thompson, A. A. (2014). Essentials of Strategic Management. McGraw-Hill Education.
• Grant, R. M. (2019). Contemporary Strategy Analysis. Wiley.
• Barney, J. B., & Hesterly, W. S. (2015). Strategic Management and Competitive Advantage: Concepts and Cases. Pearson.
• Porter, M. E. (1985). Competitive Advantage. Free Press.
• Collins, J., & Porras, J. (2004). Built to Last: Successful Habits of Visionary Companies. Harper Business.
• SWOT Analysis Definition & Examples. (n.d.). Investopedia. https://www.investopedia.com/terms/s/swot.asp
• Nonaka, I., & Takeuchi, H. (1995). The Knowledge-Creating Company. Oxford University Press.
• Friedman, M. (2007). The Social Responsibility of Business is to Increase its Profits. New York Times Magazine.