need help

Business Vision

Quanise Richardson

Strayer University

Dr. Ellis Godwin

2/1/2016

Business Vision

Introduction

The new business start-up is called Hanan Fast Food and Restaurant. This is just a new business in the town. It is currently dealing with provision of fast foods such as coffee, hamburger among other meals. In addition to this, the business also provides conference halls as well as rooms for accommodation. Since it is a new start-up business, there is need to come up with new strategies through providing unique products and services thus making it different from the other fast food businesses within the town.

Business vision about the type of product or service that the company needs to develop. Business values and corporate values that are needed.

The company will be able to provide quality food stuffs to the customers as well as quality services that will leave the customers very impressed. To successfully achieve this vision, the company will engage in provision of locally recipes as well as traditional foods for the visitors that suits their diet (Knowles & Castillo, 2011). This will make this company stand out and become very unique from the rest. In addition to this, the cooks will be sourced from the respective countries of origin since they have more experience in preparing such local traditional menus.

The core values of the business will include ensuring that quality of the products as well as services is upheld. All the products and services will be offered at a good merchandise and reasonable profit. In addition to this, all the customers will be treated very warmly, and always feel comfortable with the quality of services that they will receive (Fullen, 2004). By doing this, they will always come back to get more.

One the other hand, the corporate values that will be enshrined in the company’s organizational culture is the value of communication. Communication is a very important thing in any organization as it enhances mutual understanding between stakeholders. Respect is the second corporate value that will be adhered. The other corporate values that will be fully implemented includes integrity and excellence. When all these corporate values will be followed, the company will be able to realize its vision.

The need for new products or services and overview of the market.

The need for introduction of new traditional menus to be incorporated with local menus has been as a result of large increase of people from other nations who come in the country and they would like to have their local meals that are served back in their countries. In addition to this, conference halls are among the best business opportunities that can be ventured in within this town since many companies meet their stakeholders within the town. For this reason, provision of conference halls will be the best services to offer. This also goes hand in hand with rooms for accommodation since some conferences takes several days thus travelling will be very inconvenient to the customers.

The target market includes the tourists among other international visitor who come from every corner of the world. For instance, Thai foods will be prepared for people from Thailand, Chinese food will be prepared for the guests from China among others (Knowles & Castillo, 2011). Another target market will be the company stakeholders among other agencies who will come for the conferences and accommodations too.

These are the best markets to introduce such particular products and services. Since this region has got a lot of tourist attractions and a place to spend vacation, there are a lot guests who come from different parts of the country to visit this place. Providing such kinds of foodstuffs will be the best for such people as they will be able to feel an attachment of their tradition just in the country. Basing on the kind of meals that will be provided at the restaurant, many people will be attracted to come and experience such unique meals that are not being provided anywhere else. The guests who are the target market for the conference halls are those who will be coming to hold their meetings within the town. Following many annual meetings that are held within the town, they will be coming to this place for the conference. In addition to this, they will be hosted in the accommodation halls.

The type of business model that will be used for new business opportunity.

The type of business model that will be ventured in is fast food restaurant. This business model is very conducive for the organization (Fullen, 2004). The main reason why this is the best business model is because of the business differentiation that will be used. The business will be very unique that will enable the organization to get market value that it was desired. Fast food business model has been one of the most thriving businesses with the town.

Fast foods are very convenient to run. Many people prefer going to fast food restaurants since they find it very hard to prepare meals at home. On the other hand, since the business is dealing with foreign menus that are very unique, the business will be able to attract more foreign customers who will be visiting the country. When it comes to running a restaurant, this is very easy as it is simple to get the desired employees who will provide the required services that are expected by the customers who will be coming to get their services in that particular fast food restaurant that is to be established.

This kind of business model allows to the business to offer a variety of services which are interrelated with each other. For example, conference halls and rooms for accommodation can be used by the same visitors who will be also purchasing those other meals that will be served in the fast food business. For this reason, this market model is considered to be a very flexible one to operate (Knowles & Castillo, 2011). This makes the choice of the business model to be the fast food restaurant since the organization is in the need of the most flexible business model.

A feasibility analysis and determination on whether the new product or service is feasible. Identification of roadblocks that will be faced.

Feasibility analysis is very important for any business model that one is planning to invest in. This is an analysis of the proposed business venture or business model which is used to determine if such a business venture is technically feasible, feasible within the estimated cost and also if such business will be profitable to operate. Such studies are mostly conducted where there is large sum that is considered at stake.

With this kind of the business, it will be easy to get the employees with the most qualified skills that are desirable. Labor can be sourced both locally and internationally. Locally, there are several people who are well trained on how to run various sections of a fast food restaurant (Waddock & Rasche, 2012). In addition to this, it will also be able to get the most qualified international employees who will be dealing with such international menus.

On the other hand, there is a big population of people within the area of operation. This will contribute to a large pool of customers that will get the services from the business. The area receives a large number of international visitors who come to this place (Fullen, 2004). Most of them always would prefer to get some of their local things in the foreign nation. This makes the fast food and restaurant to be the most preferred.

There is a good cash flow in the region of business operation. This can be as most of the fast foods that operate within the region has got higher sales capabilities as compared to those that are in the other parts on the country. Because of this fact, there are higher sales that are expected out of the business which also translates into high profits at the end.

The most possible roadblocks that are likely to be experienced is the competition resulting from the most developed fast food restaurants such as McDonalds that are already established and has a good market brand name (Waddock & Rasche, 2012). This will reduce the amount of customers who will be visiting the country. To counter this problem, the business will be offering the most quality services in the market that will be able to attract new customers and gain their loyalty.

Evaluation of data from the analysis

Following the readily availability of labor which can be sourced from both local and internal market, it is therefore easy to run such kind of a business. It is always important to get sure on the availability of employees in the market (Fullen, 2004). Since getting people who can work in the restaurant and be able to provide the best quality services, it will be easy to run this particular kind of business model.

In addition to this, availability of customers is another important factor that can be used to determine the feasibility of the business. Since the town has got a lot of the key target population, it is very okay to run this kind of business in the region (Waddock & Rasche, 2012). Availability of customers is a major consideration when it comes to running a business.

References

Fullen, S. L. (2004). Opening a restaurant or other food business starter kit: How to prepare a restaurant business plan & feasibility study : with companion CD-ROM. Ocala, Fla: Atlantic Pub. Group.

Knowles, R. A., & Castillo, C. (2011). Small business: An entrepreneur's plan. Toronto: Nelson Education.

Waddock, S., & Rasche, A. (2012). Building the Responsible Enterprise: Where Vision and Values Add Value. Palo Alto: Stanford University Press.