Essay about S.W.O.T

Submitted By Manson12
Words: 2594
Pages: 11
Open Document
The Farmer’s Table

B14: The Niners

Executive Summary
We plan to open an organic restaurant in Iowa City, because we see a large potential in the citizens and students living in the area. Our restaurant, called The Farmer’s Table, would serve only organic, locally grown, raised and produced products. This will give us the ability to offer an extensive and exciting menu. In this report we discuss why we believe this restaurant will be successful. The report includes a mission statement, a SWOT analysis, a detailed competitive strategy, and a list of objectives to be completed before opening the restaurant. These elements will demonstrate why we believe our restaurant will be a viable entrepreneurial endeavor, and worth investing in.

Mission
The Farmer Table’s mission statement is, “Our goal is to offer customers healthy, organic, locally grown and delicious food. We want to provide them with the best possible service and make their time at our restaurant an enjoyable experience.”
As learned in Intro to Management, an effective mission statement defines the organization’s purpose for stakeholders, establishes key priorities by stating a unifying goal, and establishes a motivating challenge. Our mission statement is good because we challenge ourselves to provide the best possible service and make delicious food for our customers. We explicitly state what our goal is, “to offer customers healthy, organic, locally grown and delicious food.” We will serve the citizens of Iowa City, local stakeholders, by providing them with a high quality, unique restaurant.
SWOT Analysis

A SWOT analysis includes determining an organization’s strengths, weaknesses, opportunities, and threats. In conducting a SWOT analysis our team is trying to assess the strengths and weaknesses of our company’s internal environment and also to assess the opportunities and threats of our external environment (MGMT, pg. 99). Through extensive discussion we have found that our company’s internal environment potentially has a lot of strengths along with some weaknesses as well.

Strengths
Our group is comprised of a diverse group of academic backgrounds and interests, which we believe is a great advantage in planning a new business. First, there are two accounting majors in our group: Chiyu Xue and Chase Kadlec. This is a great strength because they will be able to handle all of our bookkeeping, financial statements, and be able to analyze how our restaurant is performing financially. “In order for your business to be successful and turn a profit, it is imperative for you to learn at least the basics regarding finance. If you understand finance and its many facets, you can tailor your business practices to maximize overall revenue and continuously lower costs (ehow.com/way_5229078_learning-business-finance.html#ixzz1GF20tRcU). Another group member, Cindra Bombei, is studying marketing which is incredibly valuable when trying to start a new business. Her expertise in this area will allow our restaurant to be well advertized and publicized well before our opening, which will persuade many customers to visit, helping our business to succeed. Our last group member, Matt, has work experience in a bar and restaurant in downtown Iowa City. His knowledge gained from this experience will be very valuable when we are initially trying to run a bar and restaurant for the first time. Chiyu has strong connections with the increasingly large Chinese population amongst University of Iowa students and in the Iowa City community because of her ethnic background. We believe this will increase our business and overall support. “To get started in the industry, you must often develop your connections from the ground up. This process can be accelerated if someone on your team has connections” (www.artistshousemusic.org/articles/the+three+essentials+of+management+the+importance+of+connections).

Weaknesses
As a group, we also have many weaknesses that may
Show More

Related Documents: Essay about S.W.O.T

Essay S.W.O.T.

Strengths for Nevada Conservatory Theatre * The most unique and main advantage is that virtually all of the Nevada Conservatory Theatre’s expenses are paid for. All revenue that the Nevada Conservatory accumulates can be used for other costs aside from their expenses. * According to Brackley Frayer, “One of the best competitive advantages that the Nevada Conservatory Theatre has is that they are able to bring in professional Broadway actors, actresses, and directors, to increase the quality…

Words 1896 - Pages 8

Mcdonald ' s and s. w. o. T. Analyses Essay

reorganized their business as a hamburger stand using production line principles. Businessman Ray Kroc joined the company as a franchise agent in 1955. He purchased the chain from the McDonalds brothers and made the company a worldwide success. S.W.O.T. ANALYSES Strengths * It has a strong global presence and is considered as a market leader in the international markets. * They own an active children’s charity by the name “The Ronald McDonald House”. * Their menu is very affordable…

Words 330 - Pages 2

Internal And External Factors In Healthcare

A healthcare organization’s strategic formulation must encompass the multidimensional and complex environment of the healthcare industry. Some of the external factors impacting healthcare intricacies are increased use of technology with resultant cyber security concerns, the trend of patient consumerism and the need to be more transparent, innovative and developing partnerships, and the high cost of healthcare (Strong, 2016). In addition to external factors, internal factors also impacting an organization’s…

Words 224 - Pages 1

Press Release Essay

also create NBA MLB and NFL sports apparel. They also market a variety of goods ranging from backpacks, outdoor gear, athletic clothes, mens wear, foot wear and more. Yearly earnings: V.F. Corporation net sales earnings is $7,702,589,000. S.W.O.T. Analysis True Religion Jeans: Strengths: True Religion has a large amount of cash and little debt, they can finance expansion or have a cushion for the future True Religion has managed to stay afloat despite being a premium brand retailer…

Words 1100 - Pages 5

Conducting SWOT for your Business Essay

How to conduct a S.W.O.T for your business... By conducting a S.W.O.T. Analysis o your business, you are developing strong business strategies to help your business be the most successful it can be. S.W.O.T. Stands or strengths, weaknesses, opportunities, and threats. The S(strengths) and W(weaknesses) are what you would refer to as internal to your company, meaning they can be changed over time with a lot o hard work. The O(opportunities) and T(threats) are external to your company, meaning…

Words 660 - Pages 3

Jara Business Plan Essay

OUTSIDE SALES PERSON Business plan Prepared by: Diego Jara January 13, 2015 Table of Contents Page 1) Subject 1 2) Personal S.W.O.T Analysis 2 3) Growth Potential 3-4 4) New Accounts Potential 5 5) Weaknesses and Strenghts 6 6) Goals 7 1. Subject The following notes are business strategies to help me as a Fastenal Outside Sales Person increase sales, margin, and meet monthly goals. For this, I have come up with ideas and strategies to aid in my success. These tools will be used…

Words 1464 - Pages 6

Marketing: International Trade and China Briefing Essay

EMB690-1303-01 Colorado Technical University Dr. Pressley Rankin Individual Project 1 By Tammie L. Johnson August 25, 2013 Abstract As a marketing member of this furniture business we need to make sure that all of our supplies can get to the factories overseas. If we have a hiccup in this, then it’s our job to figure out what is going on and make the situation better, our furniture company depends on getting our factories the materials they need to keep the inventory up. This presentation…

Words 770 - Pages 4

Reflective Action Plan Essay

Action Plan Proposed targets for selfdevelopment with justification of how they might be achieved 200912929 Action Plan: proposed targets for self-development with justification of how they might be achieved. One of the most difficult obstacles in achieving personal self-development is the lack of a good action plan. It is not a difficult task, but requires learning to be efficiently executed. The result should be an effective practise to reach my goal. This is done by the inclusion…

Words 1679 - Pages 7

Carbon Tax in Australia 2010 Essay

-----------------------------------3 Why it was introduced? ------------------------------ Who is practicing it? ----------------------------------- The need of carbon tax ------------------------------- Effect of carbon tax ------------------------------------ S.W.O.T Analysis ---------------------------------------- Conclusion ------------------------------------------------ Reference list -------------------------------------------- Carbon Tax http://www.fin.gov.bc.ca/tbs/tp/climate/A1.htm The carbon…

Words 449 - Pages 2

Swot Analysis For Cango

A S.W.O.T. analysis is a key part of finding out the strengths, weaknesses, opportunities and threats of your company. Keeping track of these things are key essentials to knowing your business and keeping up with day to day obstacles that may occur. Being aware of these 4 things, and sharing the information to your staff will keep you ahead of what is going on inside and outside of the company. As a result, these things change from time to time, you will always have to keep a fresh outlook on what…

Words 360 - Pages 2