Category: Business Plans

nstructions
The Project Risk Assessment is due as shown in the schedule. Use the weekly readings to understand the concepts and what is required for the assignment. Detailed instructions are attached.
Submit this individual assignment in your Assignments folder. IMPORTANT – The two submission files should be named as “LastnameFirstname ” “Deliverable for” “Assignment Name”, such as:
MylastnameMyfirstname Risk Register for Project Risk Assessment.xlsx
MylastnameMyfirstname Questions for Project Risk Assessment.docx
Due Date
Sep 26, 2023 11:59 PM
Attachments
Project Risk Assessment.pdf (397.84 KB)
Risk Register.xlsx (82.78 KB)
Download All Files

Instructions
The Project Charter is due as shown in the schedule. Use the weekly readings to understand the concepts and what is required for the assignment. Detailed assignment instructions are attached.
Submit this individual assignment in your Assignments folder. IMPORTANT: The submission file should be named as “LastnameFirstname ” “Assignment Name”, such as:
MylastnameMyfirstname Project Charter.docx
Due Date
Aug 29, 2023 11:59 PM

This assignment is due as shown in the schedule. The weekly readings and lectures will help you understand the concepts associated with the assignment. Detailed assignment instructions are attached below.
Submit this individual assignment in your Assignments folder. IMPORTANT: The submission file should be formatted as “LastnameFirstname AssignmentName”, such as:
MylastnameMyfirstname WBS for a Wedding.mpp
Due Date
Aug 22, 2023 11:59 PM

1.Your MNE is looking to evaluate the industrial capability of various locations worldwide. Based on readily available data concerning the potential and performance of different countries, the information you provide will drive future investment by your firm. Choose a country from Africa, Asia, Europe, North America, and South America, and summarize your findings about each. Of the five countries from five continents, how would you rank them? Why?
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2.ON ETHICS: Pick an MNE with FDI in at least 20 countries. It has lost money in some of these countries. As a consultant engaged by the firm, you need to recommend to management from which top three loss-making countries the MNE needs to withdraw (divest). You are aware that exiting a country would entail shutting down the subsidiary and laying off all the employees. According to what criteria can you name three countries to the list?

1.Your MNE is looking to evaluate the industrial capability of various locations worldwide. Based on readily available data concerning the potential and performance of different countries, the information you provide will drive future investment by your firm. Choose a country from Africa, Asia, Europe, North America, and South America, and summarize your findings about each. Of the five countries from five continents, how would you rank them? Why?
●
2.ON ETHICS: Pick an MNE with FDI in at least 20 countries. It has lost money in some of these countries. As a consultant engaged by the firm, you need to recommend to management from which top three loss-making countries the MNE needs to withdraw (divest). You are aware that exiting a country would entail shutting down the subsidiary and laying off all the employees. According to what criteria can you name three countries to the list?

Use the lettering system indicated below to post your answers. Answers should be listed in sections labeled “A” through “C.”
Michael Porter — An Icon of Competitive Strategy and Competitive Advantage
Every business student would be well served by becoming conversant with Porter’s models. Michael E. Porter was (and may still hold the distinction) of being the youngest professor to receive tenure in Harvard University’s history. He has been on the Harvard Business School faculty since 1973. It would not be easy to find an academic article, book, or textbook dealing with competitive strategy and competitive advantage written in the past 50 years that does not mention the impact of Porter’s theories.
In Competitive Strategy (1980), as you learned in week 2, Porter identifies five industry forces that managers must consider in developing market strategies. The five forces Porter’s model identifies are: (1) the threat of new entrants into the market, (2) the bargaining power of customers in the industry, (3) the bargaining power of suppliers in the industry, (4) the threat of substitute products or services entering the market, and (5) the price competition or other forms of rivalry among existing firms in the market. The application of the five forces model recurs throughout the course.
Porter pursues the theme of global competition in his 1985 book, Competitive Advantage, where he notes that companies must select a strategy of cost leadership (e.g., Costco), which is contingent upon a large market share, or a strategy of differentiation (e.g., Nordstrom), which pursues a smaller market share but has an exclusivity advantage. It is this part of Porter’s work we will focus on this week. Porter’s books rank among the best-selling business books.
Porter, E. M. (1980). Competitive strategy: Techniques for analyzing industries and competitors. Free Press.
Porter, E. M. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press.
Case Scenario: Smithfield Custom Furniture:
Smithfield Custom Furniture has done extremely well since its founding in 1903. Smithfield has focused on selling reasonably priced furniture since its inception. Now 2001, the company has been headed by the founder’s granddaughter, Joan Smithfield (CEO). She has run the company for the past twenty years. Today, the company has 247 retail stores. 220 stores are spread throughout the 50 states, and 27 stores are located in England, France, and Germany. Each country has 9 stores. The company employs 13,000 people.
For the past 20 years, Joan Smithfield has been aware of the financial growth in a large workforce segment, primarily due to more women in the workforce holding full-time and professional occupations. She knows, too, that the reasonably priced furniture market has become saturated with other competitors during this time.
The company does all its manufacturing in the United States at six facilities, which recently were modernized with the latest equipment. Although recently modernized, Smithfield’s production plants are not producing at maximum capacity. Joan realizes the plants could produce more and different types of furniture.
The Board of Directors is pressuring Joan to diversify Smithfield’s product line. Everyone on the board, including Joan, agrees diversification is needed. Everyone agrees, too, a new line of furniture needs to be added.
However, the 12-member Board of Directors is evenly divided on whether the new line of furniture should be 1) massed produced, mass-marketed, and sold at the lowest price point possible or 2) whether the new line of furniture should be a very upscale line of furniture, custom-crafted and produced from the most expensive and exotic woods, exclusively marketed to the top 7.5% of world-wide income earners. The Smithfield plants have the capacity and capability to develop and produce either but not both lines of new furniture.
Joan Smithfield has been a longtime admirer of Michael Porter. She met Porter a few times over the years at various seminars and business functions.
Task:
In your role as a senior strategy analyst at Smithfield Custom Furniture, CEO Joan Smithfield has requested you to provide to her a memorandum that addresses A-C below.
A. Explain, using the link provided to Porter’s Competitive Advantage Model, how Porter’s Competitive Advantage model applies to the Smithfield’s Board of Directors’ issue of deciding to produce a very exclusive furniture line or a mass-produced, mass-marketed furniture product line. Use in-text citations as appropriate. https://courses.lumenlearning.com/wmopen-principle…
B. Select the best strategy for the Smithfield company to pursue from the two strategies Porter presents in his model and explain why that particular strategy is better than the alternative.
C. Using this week’s course readings, assuming Joan Smithfield accepts your recommendation, what is the next action she should take to determine if your recommendation is correct? Be specific. Use in-text citations and list references from course readings as required.
Guidelines
Third-person writing is required. The third person means no words such as “I, me, my, we, or us” (first-person writing).
Contractions are not often used in business writing, so do not use them here.
Paraphrase – do not use direct quotations. This means that you will put the ideas of an author or article into your own words rather than lift them directly from a source document. You may not use more than four consecutive words from a source document (including the case scenario) or change words in a passage as doing so would require direct quotation marks. Use a passage from a source document by putting it into your own words (paraphrase) and attribute the passage to the source document. Changing words from a passage does not exclude the passage from having to have quotation marks. If direct quotes are presented, they will not be included in the grading.
Use in-text citations and provide a reference list that contains a reference associated with each in-text citation.
Only course materials (from this course’s content) may be used. Sources other than this course’s eBook or the course materials listed under content will not be considered sources of support.
Provide the page or paragraph number in every in-text citation presented.
References
https://strategicmanagementinsight.com/tools/competitive-profile-matrix-cpm/
http://www.maxi-pedia.com/IFE+EFE+matrix+internal+factor+evaluation

Q: What is a business plan?
A: A business plan is a written document that outlines how a business will achieve its goals and objectives. It typically includes details about the company’s products or services, target market, competition, marketing strategy, financial projections, and management structure.
Q: Why is a business plan important?
A: A business plan is important because it helps entrepreneurs think through the key aspects of their business and create a roadmap for success. It also helps them secure funding from investors or lenders and make informed decisions about the direction of their business.
Q: What should be included in a business plan?
A: A business plan should include an executive summary, company description, market analysis, organization and management structure, product or service line, marketing and sales strategy, financial projections, and any supporting documentation such as resumes, contracts, and industry research.
Q: Who should write a business plan?
A: Anyone starting or growing a business should write a business plan. This includes entrepreneurs seeking funding from investors or lenders, as well as established business owners who want to expand or make strategic changes to their operations.
Q: How often should a business plan be updated?
A: A business plan should be updated regularly to reflect changes in the market, competition, or internal operations. It should be reviewed and updated at least once a year, or whenever there is a significant shift in the business environment.

Making money online can offer various opportunities, but it’s important to note that there are no guaranteed methods and success will depend on your skills, dedication, and market trends. Here are five potential ways to make money online:
1. **Freelancing or Consulting:** If you have skills in areas like writing, graphic design, programming, marketing, or consulting, you can offer your services on platforms like Upwork, Freelancer, or Fiverr. Building a strong portfolio and delivering quality work can help you establish a client base and gain a steady income.
2. **Blogging or Content Creation:** If you’re passionate about a specific topic, you can start a blog or create content on platforms like YouTube. As your audience grows, you can monetize through ads, sponsorships, affiliate marketing, and even selling your own products or courses.
3.E-commerce: Setting up an online store through platforms like Shopify, WooCommerce, or Amazon can be lucrative. You can sell physical products, digital goods, or dropshipping products from suppliers. Building a strong brand and marketing strategy is crucial for success.
4. Online Courses or Ebooks: If you’re an expert in a particular field, you can create and sell online courses or ebooks. Websites like Udemy, Teachable, and Gumroad provide platforms for hosting and selling your educational content.
5.Stock Photography or Creative Assets: If you’re skilled in photography, illustration, or graphic design, you can sell your creations on stock photo websites or marketplaces like Shutterstock, Adobe Stock, or Etsy.
Remember these key points for succe
-Quality Matters: Regardless of the method, producing high-quality work is essential. It builds trust with your audience or clients, increasing the likelihood of repeat business and referrals.
– Consistency and Patience:Building an online income takes time. Consistently producing content, delivering services, or improving your products is crucial.
– Marketing and Networking: Effective marketing is essential to reach your target audience. Utilize social media, SEO (search engine optimization), email marketing, and other strategies to promote your offerings.
-Adaptation:Online markets evolve quickly. Stay up-to-date with industry trends and adapt your strategies accordingly.
-Customer Satisfaction Positive reviews and customer satisfaction are essential for building a reputable online presence. Happy customers are more likely to refer others to your business.
Legal and Financial Considerations: Depending on your location and the nature of your online business, you may need to consider legal requirements, taxes, and financial management.
Remember that making a consistent and sustainable income online requires hard work and dedication. While it’s possible to achieve success, be cautious of scams or “get rich quick” schemes that promise unrealistic results. Always research and validate opportunities before investing your time and resources.

Sam’s Pizzeria has decided to implement a software application to support their order taking, payment and delivery processes. The pizzeria accepts payment by debit, credit card or cash. An order can be placed by phone, walk in, or internet. When an order is placed, the cashier asks for the customer’s name, delivery address, phone number, and pizza order (includes pizza size, and toppings), including any beverages. This pizzeria does not offer any specials but from time to time may accommodate a percentage discount. The customer has the option to either pick up the order or have itdelivered to a specified address. When an order is placed by internet, the order is automatically created into the system and popup window informs the cashier that the order is placed; the cashier must close the popup window to continue with any existing transaction. The internet order is then given a priority number and is placed in queue with the rest of the orders.
Design the user interface to take the customers information, order, and payment
List the functional requirements (minimum 5)

What is a Business Plan?
A business plan is an overview of the business idea, as well as a strategy for building and running it. It’s a formal, written document that answers important questions about your company.
A business plan includes your business’s:
Overview and objectives
Company description
Products and services
Employment opportunities
Marketing plan
Competitive analysis
Funding needs
Operational guidelines
Structure
Appendices
Why Do You Need a Business Plan?
A business plan serves both internal and external stakeholders, and is crucial to developing your budding company in multiple ways.
A business plan can help with:
Guidance: A business plan can act as a roadmap, helping you and your team stay focused on your goals.
Loans: Most banks need to review your business plan before they can approve a small business loan. Your business plan shows the loan officer you’re serious about your new venture and that you’ve considered the challenges and risks involved.
Lease: Similarly, a landlord may ask to see your business plan before confirming a rental agreement. Commercial leases are typically for three to five years, and landlords want tenants they believe will be in business for at least that long.
Investors: If you want to bring investors into your venture, you’ll need to prove the viability of your company. A well-developed business plan shows that you’ve done research on the market, your competition, and how to succeed.
Partners: Looking for a co-founder? In the same way a good business plan will help you draw in investors, it can also help to attract potential partners.
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Generating a business plan involves putting your ideas and research into writing.
Here’s how to create a business plan in three simple steps