Challenges Facing a Startup Business
Challenges Facing a Startup Business: Currently, the Smarts make a combined income of $140,000 after taxes from their jobs at the University of Georgia. Explain the challenges the Smarts can expect with starting the business in relation to lifestyle, marriage, time management, obtaining health insurance and personal finances.
Building a Team: The Smarts have made it clear that they don’t just want to hire employees but are interested in hiring a team for the Café? Explain why it is important for the Smarts to use a team approach and give a minimum of three examples of specific areas in the business where a team approach can yield improvement.
Marketing: The Smarts know they can create a great product that will be appealing to the public. The Smart know they need to capture the attention of the customers, which is why they believe Egyptian Delights is a good name for the business. However, they want to be sure to have an appealing name and would like know what different marketing tools can be used to determine the best possible name for the business. The Smarts are interested in learning about different tools so it is important not to limit the options to the same methodologies.
Secondly, the Smarts need advice on how to promote the café, its products and how to develop the brand. Explain how the Smarts can use the 4P’s to market the café, its products and build Egyptian Delights’ brand.
Operation Management: In reviewing your notes, you realize that the Smarts have overlooked operations management. You know this is an important area of focus for the business. Explain to the Smarts the definition of operations management and why it is important to their particular business. Explain how attention to operations management impacts the success of the business in terms of employee retention, inventory management, quality control, customer satisfaction and profitability.
Step 2: Write the Report
Create a Word or Rich Text Format (RTF) document using 12-point font. A report is left-justified with no indentations of paragraphs. Double space between paragraphs to make the memorandum easy to read.
The report will be between 2-3 pages in length excluding the title page and reference page. In business, writing must be concise, easy to read and free of writing and grammatical errors.
You are required to use in-text citations and the associated reference will appear in a reference list at the end of the memo (on a separate page).
Use the following in completing the project:
Step 3: Review the Report
Read the report to ensure all required elements are present and that the elements address the report requirements. Use the grading rubric to ensure that you gain the most points possible for this assignment.
Step 4: Proofread the report for spelling and grammatical issues, and third person writing.
Step 5: Submit the report in the Assignment Folder (The assignment submitted to the Assignment Folder will be considered a student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor).