Capstone to Business Management Final Project Essay

Executive succinctTims burnt umber Shoppe is located in Sunnydale, Illinois. Sunnydale is a mid-sized city with a active barter district and a boastful university and Tims is located smack splatter in the middle of tot onlyy the dealings. Tims Coffee Shoppe is in express away of whatsoever much needed gains and necessitate things to firing off to a greater extent smoothly. just about of Tims problems were node satisfaction, employee devotion and merchandising. The hobby pages have a detailed review of what Tim needs to constitute much self-made. One of the virtually Coperni shag things Tim needs to accomplish is a catch up withover of his benevolents resource program to address employee training, gum olibanum creating smash client military proceeds as life-threatening as expanding the types of marketing he utilizes. If he amounts suggestions he would have the probability to obtain his long term intentions much(prenominal)(prenominal) as * To doubl e r razeue by the end of the current fiscal year. * To gather up at least 95 per centum autocratic client feedback regarding the service we set up.Regulations and watchfulnessSummaryThe attempt is to suggest to Tims Coffee Shoppes atomic depend 18as of weaknesses where subtle melioratement to argumentation strategies which digest bring in the much desired and needed r planeues and amplify customer traffic. It is overly an attempt to bring home the bacon make up effective products through a change in supply and logistics for Tims Coffee Shoppe. The market segmentation is too to be altered to expand his customer base.Action ItemsThe vision statement elect is To promise that individually guest receives prompt, professional, complaisant and courteous service. To maintain a clean, pleasant and sanitary maintained premises for our guests and supply. To provide at a fair footing nutritional, well-prep atomic number 18d beverages and foods- using only quality ing redients. To en legitimate(a) that all guests and staff ar case-hardened with the dignity and respect they deserve. To thank each guest for the prospect to serve them. By maintaining these goals we shall be guaranteed a fair usefulness that pull up s adjourns allow us to endure to the confederation we serve (Missionstatements.com, 2013). at that place be various things Tim could do to garter turn over living up to this vision for his business. The following(a) atomic number 18 Short Term Goals which would be actions that should ideally be completed at heart the adjoining three months.* Spend the next month analyzing the competition and brainstorm on what they dont offer that we do or can offer. * Choose iodine or two high-profile local humanity events to sponsor * Rede pla crystalliseary house the customer service research act to accept bracing questionnaires and incentives, such as monthly drawings for detached products or discounts on future purchases for c ustomers who defy the m to respond. (Williams, 2013) The next a couple of(prenominal) items are actions that would be Long Term Goals which should be completed by the end of the business fiscal year. * To build the comp eachs name light within the community through community turn outreach projects (Williams, 2013) What else could Tim do to help pass on these very important goals? * attain actionable move within committees to pop off down createload * Be positive and energetic* Decide how you are difference to measure your success and deliver sub out-of-pocket of it at regular intervals. * If your fraternity is achieving its goals, be sure to recognize employees that helped. (Slutsky, 2013)HR abridgmentSummaryHuman resources help the business in many ways. However, Tim has non been pickings full advantage of this valuable dent. season human resources handle many of the matters pertaining to the employees of a friendship, such as recruiting and benefits worry, th ey in addition work with management to help develop long-run strategies for the growth and development of a company. HR de destinyments often act as a middleman between employees and management and should be where employees go for basic company learning (Christensen, 2013). According to the files in Tims occasion most of his employees are valuable assets. Employees are a critical comp sensationnt of any business. Successfully managing the human resource verbal expression of business can be important, even for very secondary businesses such as Tims Coffee Shoppe.After all, in a service economy, employees are recess of the delivery of the product and service. Their surgical operation, commitment and loyalty to the job are critical and can be boosted through successful HR management. However, thither are a few that need coaching to master higher(prenominal) customer service and company loyalty standards, such as Darryl. The files also need to be better organized to achiev e higher efficiency. It can become the item-by-item largest consumer of your time and energy if you dont know how to handle things well. And, its suave a big consumer of your time and energy, even if youre adept at treatment such things.Action ItemsThere are numerous actions Tim should take to help this force field of his business run more smoothly and effectively. These include to have a staffing plan, reckon ripe employees, how to screen potential candidates, wear personal interviews and the actual hiring process and most important of all, retaining the valuable employees and evaluating their accomplishment as well as maintaining high standards. There are several steps to follow to help stay organized and achieve a highly valuable staff. The following are actions to take to maintain and civilise the staff Tim already has. * Put unneurotic a human resource rule of thumb vade mecum that states what policies and procedures you exit and expect the employees to follow. This handbook should address issues such as* at allow for employment* compensation* perquisites and bonuses* performance reviews* lay offs* terminations* conflicts of inte bide* disciplinary process* vacation time* sick time* family time* leave of absence* employee de blind drunkour* To retain employees, your human resource management philosophy should be to eliminate things that concussion employees out. It should also, within reason, provide a number of things that keep pulling employees into the organization. Both approaches should be successful in retaining good employees as they both counteract the pulls from outside organizations (Sensible undersize Business Ideas, 2013). Some employees go away nod off interest and need something brand-new to keep their interest in your company.It big businessman be necessary to provide challenges, opportunities for advancement and former(a) rewards. * It is important to remember that every nonpareil including yourself, the owner, is a te am. Everyone needs to be quietly evaluated on their performance and their pay should reflect that. Make sure to recognize high playacting employees to attention their motivation to better your company and take the time to coach your lower performing employees. Also make sure they all know you are in that location to survive and help them with any issues that they come across. trade AnalysisSummaryThe competitive environment, also known as the market structure, is the propellent system in which your business competes (Mack, 2013). It is the give way a companys immaterial environment that consists of other organizations trying to force out clientele in the same market. It is the part of the trade that includes all immediate rivals. Tim has not effectively advertised his chocolate sponsor. He has signage in the office that is not be put to use and the only sign that is noticed in the burnt umber buy at is the Buy 10, Get 1 Free. Also, I believe that Tim heavily relies on his localization of function of being near the university, bus stop and business district to attract customers. It whitethorn work well but there is continuously more that he could do to take his business from being good to booming. Some possibly effective marketing ideas to promote Tims Coffee Shoppe mightiness be* To create a website- in time if it is unspoiled 1-3 pages of general information, its better than nothing. Blog sites are best because Tim would be able to easily update. * Neighborhood selling- wages advantage of heavenss that are outdoors equivalent billboards, bus-stops, park benches anywhere that potential customers might frequent. Also, partner up with other mild businesses and exchange flyers to pass out to customers. * fond Sites- Facebook and Twitter* Use Guerilla Marketing tactics- Go pass out coupons at malls, pass out fliers at the college, etcetera Take samples of cocoa and pastries to churches or community centers. Get reviewers to come in a nd keep open an article about the coffee spy. * go along holi mean solar days or create a family day with innocuous drinks for kids under a certain age. * Educate your customers- Host a seminar on the use of coffee or on different brewing methods. Have a Coffee of the Month where you can naturalise on the origin country of the coffee. (Reyn ageds, 2013)The volume of Tims Coffee Shoppes customers are the universitys students and also business professionals filet by on their lunch breaks. A lot of the customers have picked out satisfaction surveys. This is a great tool and lets Tim know what they are doing right or wrong and what they need to improve on to make their business more successful and profitable. E specially when there is space for the consumer to fill in their own suggestion or comment, such as the survey at Tims which stated I just love Tims. I love the special attention, atmosphere and a coffee shop that isnt a chain for once. This shows Tim that the customer is extremely pleased and he should be proud of his product and staff.However, the surveys can also show Tim where his business needs to improve to keep people coming back, such as the comment The morning staff is RUDE or The coffee always tastes burnt. Dont know wherefore I come back. This shows the Tim where there is opportunity for improvement. By making customer satisfaction surveys available, this is another tool they can utilize by taking suggestions to make their company better than the competition. Taking these suggestions and considering them an opportunity to improve will attract more customers to come back as well as giving Tim and his employees a goal to work towards and achieve.Action ItemsCreating a ram analysis identifying the good, bad and potential monstrous for your business is essential before travel forward. Strengths Tim needs to stand out from the rest of his competition. One rugged strength would be his location. Being close to the university, Business com mons and bus stop is a anchor location to attract business. Weaknesses Weaknesses noted on the marketing surveys are rude staff, old cash registers which make customers order incorrect, secure seating, slow service, not taking debit cards and so on. Opportunities Some opportunities for Tims might include a coffee of the month club, or adding more items to the menu. Threats Some of the threats might be, of course, Queequegs and even the campus coffee machine.Economic Environment/Finance and be/Financial StatementsSummaryLooking at the economic situation at Tims Coffee Shoppe it is decent but could definitely be better. To have a strong and successful business, you need to have a clear understanding of the financial impact that your most business decisions may have. Tim is expecting an ontogeny in gross sales volume delinquent to several large businesses moving into the area around the coffee shop. With more traffic going by the coffee shop, one would expect an increase in cust omers which would mean an increase in income for Tim. Virtually all of your businesss be will fall, more or less neatly, into one of two categories varying star damage and immovable costs. Variable costs are costs which increase directly in correspondence to the level of sales in dollars or units sold (BizFilings, 2012). Variable expenses for the coffee shop would be some examples would be cost of goods sold, costs of supplies, and salaries of the employees.Action ItemsThe total expenses will increase if the sales volume will increase due the variable expenses increasing. The companys total costs are a combination of the fixed and variable costs. Assuming your sales exceed your variable costs, each additional unit of sales volume increases your gross kale and your net income. If you can lower your costs without impacting taxation and maintain the same sales volume, your profits will go up (Kokemuller, 2013). This mode if Tims profits increase so does his net income. It i s very important for small business owners to understand how their various costs respond to changes in the volume of goods or services produced. The breakdown of a companys underlying expenses determines the profitable equipment casualty level for its products or services, as well as many aspects of its overall business strategy (Inc.com, 2013).The salaries of the employees will increase due to the fact Tim will have to utilize more employees or increase the hours of subsisting employees to accommodate the additional customer base. The cost of supplies and goods sold will increase with the more customers and products sold. Fixed cost will bear on the same regardless of the level of sales. These expenses would include Tims rent, depreciation, the lease on the refrigerator, taxes and insurance. enigma Solving/RecommendationsSummaryThere are several things Tim could do to improve his coffee shop, especially to get it to become more marketable for him to sell. The following are good recommendations to start with * Redesign the customer service research process to include new questionnaires and incentives, such as monthly drawings for free products or discounts on future purchases for customers who take the time to respond. * Create actionable steps within committees to break down work load * Put together a human resource guideline handbook that states what policies and procedures you will and expect the employees to follow * Expand advertizement to other venues* More employee training and recognitionReferencesAssociates Capstone in Management. (2012). Retrieved from Tims Coffee Shoppe simulation http//extmedia.kaplan.edu.edgesuite.net/buness/AB299/Tims_Coffee_Shop/index.html BizFilings. (2012). Business Decisions and Finances Cost-Volume-Profit Analysis. Retrieved June 24, 2013, from