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Key Topics
Requirement
Green concept-Reflective report
Solution
Summary of Business plan
The Green concept will be the advanced healthy food organization which provides various healthy salads and drink options to the large number of health conscious consumers. The company is focusing on providing high quality of healthy food products in order to meet the customer satisfaction by fulfilling the needs and demands of consumers (Fuller et al., 2016). The demands of the community include the availability of healthy food options and access at a reasonable price. The main motive of the company is to provide healthy food and smoothies in order to promote healthy life among the local people. I feel that the innovative business idea is the strength of the company and weakness of the business plan include nature of the product because smoothies and salad can only be served in a fresh form (Jones et al., 2013).
Company description
The company is established by the group of students who are interested in developing organic food in order to promote the healthy lifestyle. The main idea is to promote a healthy lifestyle among the local people. The company is producing salad and smoothie in order to promote the healthy lifestyle. The heath of individuals is impacted by eating artificial ingredients, so our objective is to provide healthy lifestyle by serving healthy smoothie and salads to the consumers.
Company facilities and location
The place is selected by considering the target audience of the business and physical requirements of Green concept.
Physical requirements
Space requirements: 200sq.ft
Building design: Shopping complex
Hours of working: 9:00 Am-11:00 Pm
The location is selected on the basis of below features:
Visibility of high level
Cost rate of rent-$0.80 square foot for 200 sq. ft.
Facility of accessing parking facilities
Objectives
The production of the innovative product in orders to distinct the brand among the competitors within the same industry.
Generating higher revenue.
Provide high quality of organic food at a reasonable price.
Develop healthy environment in which people from the different group came together.
Service
The creation of distinct environment through various innovative activities in orders to distinct the brand among other competitors (Chesbrough et al., 2013).
Mission
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To provide healthy foods and beverages to the consumers in order to promote a healthy lifestyle.
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Slogan of organisation
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Fresh Food and Fresh day
Risks
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I feel that various risks are involved in the business which is explained below:
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The facilities provided by the business have requirements in the market or not.
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The demand for organic food in the future will be same or not.
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The consumers will accept the product or not.
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The price of products will be acceptable or not.
Strength
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High knowledgeable, passionate, energetic employees with friendly nature.
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High quality and healthy items for the consumers.
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Ambience of higher scale to the consumers
Self-serving
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The vision for the market requirement is clear.
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Flexible menu and price range of products
Weakness
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The business highly depends upon the changing technology.
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The high cost is required for building infrastructure.
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Bargaining power of individual is low
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High bargaining power of suppliers
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Process of idea initiation
The idea is come from me by looking at the government promotional activities to promote the healthy lifestyle. The various ideas came in mind related to the food business, but we choose organic food manufacturing by considering the social idea to promote the healthy lifestyle among the individuals. At the time of idea generation, we had visited various existing entrepreneurs, visit speakers to the university in order to get an idea related to the opening of business. Our basic idea to develop an organisation which would be entrepreneurial in nature and lifestyle oriented. We had started the process of idea generation through the brainstorming session in order to choose the business idea. All the group members participate in this session and share various business opportunities and ideas. The suggestions include idea of diary firm, art schools for performing arts and others. Then we conduct the elimination process in which checklist of ideas is prepared then we felt that dairy business is not an innovative idea. Then we take the help of expert people which includes people working in big companies, friendly networks and others. Then in the end we decide to work on innovative and smart healthy organic food organization which is an innovative idea because it is different from existing food organisations (Zweig et al., 2013). The trend of food and beverage sector is high which helps to grow business opportunities in the future.
In the process of idea initiation, I learned that business opportunities require on time with the attractive which helps to provide value to the consumers. I also learned different methods to determine the business ideas which include trends observation, determining the gap in the present market and problem-solving. I also learned the influence of economic and social factors on the development of opportunities and impact of getting the idea from the friendly network and expert people on selecting best possible business opportunity. I also learned to apply various innovative ideas of business and techniques of innovation such as brainstorming, survey and others.
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Team work: The group of advisors, founders and chief transform is developed which help to transform the Global concept into functioning organisation. Our strong team came together in order to achieve the organisational goals and objective. I feel that all team members works dedicatedly in order to achieve the organisational goals.
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Responsibility of shop manager: The responsibilities include developing a welcoming environment, provide training to the new joiners in order to perform the job, measure the performance of employees on a regular basis, develop a strong relationship with customers, reporting to the owner, and handle the customer grievances. I think shop manager is contributing towards the management of shop in an effective manner.
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Responsibility of crew: The responsibility includes record maintenance of different business operations, dealing with customer problems, follow the order given by shop manager, develop the record of customer needs and demands, and delivering efficient services to the customers. I think the crew members are directly in contact with the customers, so they are contributing towards the brand building and revenue generation.
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Responsibility of finance operator: The responsibility includes calculate the requirement of funds, maintain day to day transactions, develop the record of utilisation of funds, and perform the activities of cash generation and payments. I feel that the operator is contributing towards the management of funds and maintenance of financial records.
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Responsibility of marketing & operating planner: The responsibility includes the development of blueprint of operational activities and development of marketing plan. It is my responsibility to develop the plan of operational activities which includes planning of manufacturing, distribution, and selling activities. I feel that I am a contribution towards the meeting of organisational goals by developing the plan for marketing and operations which directly contributes towards the revenue generation.
Presentation experience
The presentation is defined as the formal ceremony in which new idea, product and services are explained to the audience. The business plan needs to be communicating with the panel which helps to show the potential and strength of business to the panel. At the time of decision making the investors mainly focus on the product which is satisfying the need of market and handling by intelligent people in order to control the cost for maximizing the revenue of the company (Bigliardi et al., 2013). The investors don't have enough time read complete documentation, so presentation helps to see the potential of managing the team for managing the overall business in terms of experience, maturity and reputation. The presentation helps to summarise the business. The time management and essential information extraction are required in order to show the success of the business plan.
I learned from the experience that it is necessary to attract the attention of investors through great knowledge about the business venture. The level of confidence must be sustained, and the presentation should be completed in predetermined time limit.
Alternative scenario
The success of the business depends on internal and external factors. The worst scenario is the business is to have low revenue due to which the company is unable to meet the expenses. I feel that the company must perform break-even analysis in order to manage the overall success if the company. The company must determine the cost and budget after considering the alternative growth scenario. I think the predictions are optimistic. The alternative growth is considered in the business plan. The alternative scenario helps to make the better plan by considering the worst case of the business plan.
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It can be concluded that the business plan has enhanced my knowledge related to the start of the business related to the aspects of the business which are important to be considered at the startup of any business. The understanding of overall economy can be done through in-depth research. I felt that the organisational goals and objectives are clear. I understand the importance of developing business idea after developing the business plan. I also understand the implementation of business plan efficiently.
References
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Jones, C., Penaluna, A., Matlay, H., & Penaluna, K. (2013). The student business plan: useful or not?. Industry and Higher Education, 27(6), 491-498.
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Chesbrough, H. (2013). Open business models: How to thrive in the new innovation landscape. Harvard Business Press.
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Bigliardi, B., & Galati, F. (2013). Models of adoption of open innovation within the food industry. Trends in Food Science & Technology, 30(1), 16-26.
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Zweig, G. (Ed.). (2013). Principles, Methods, and General Applications: Analytical Methods for Pesticides, Plant Growth Regulators, and Food Additives (Vol. 1). Elsevier.
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Fuller, G. W. (2016). New food product development: from concept to marketplace. CRC Press.
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