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Business Performance Evaluation Paper

607 Words3 Pages

For this assignment, I will apply the basic concepts of simple business structure to open a lemonade stand in my neighborhood. I will use this plan to attract a wide range of customers. I will highlight topics such as my marketing and pricing strategies for my lemonade stand. I will also include my plans for my CSR and its connection to the company. My goal for this assignment will be to apply the lessons of budgeting, marketing and customer service to build a successful business model. The name of my company will be Sweet and Sunny Lemonade. I believe that the name is important because it represents the first impression of a product. By naming the company Sweet and Sunny Lemonade, I am giving the impression that the customer’s experience with the lemonade will be positive and refreshing. Establishing a branding image is key because it forms the expectations of the customers. Moreover, customers may be attracted to a product simply from the name alone. Others may be turned off by the name of the product if it is misleading or inappropriate. Creating a brand that sets high expectations is a key step in attracting a wide range of customers. …show more content…

We deliver an authentic and high quality product at a reasonable cost.” Mission statements are important for companies as they help all parties involve understand the focus of the company. Mission statements will often serve as the moral foundation for companies. The mission statement will allow companies such as Sweet and Sunny Lemonade to grow without the risk of losing its focus. As the company expands and possibly offers additional products in the future, the mission statement allows the company to remain rooted in its core

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Mission statements will ensure that shareholders, employees and customers clearly understand what the company stands for. Mission statements also describe the organization’s overall goals. Mission statements should be written in a way that when someone reads the statement, they have an understanding of the activities that are performed in the organization. In this paper I will compare the mission statement of Chick-Fil-A Foundation with my personal mission statement. Chick-fil-A Foundation Chick-fil-A Foundation is a non-profit organization that’s sole purpose is to provide leadership and guidance to children and also support education in the local communities.

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Their mission statement

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PepsiCo existing mission statement A mission statement is the brief description of a company’s fundamental purpose (Verma, 2009, p. 153). It determines where the organization is going and tells what the company is presently. It informs the desired level of performance. “Our mission is to be the worlds’ premier consumer products’ company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employee, our business partners and the communities in which we operate.

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If a brand has a good reputation, customers and businesses, are more likely to purchase that brand. Examples include logos and packaging. (B2B and B2C Similarities and Differences , n.d.) These need to capture the attention of their customers because businesses have competition and therefore need to stand out.

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Introduction Since my first vClass in Strategic Marketing at the University of Fredericton, I learned a lot about the importance of branding and the impact it has on a company’s bottom line. In today’s dynamic business environment, organizations must build a brand identity that continually crafts a positive image. This requires establishing and communicating a brand promise and building a customer experience that upholds the promise consistently at every stage of the purchase cycle. No matter the size of the business, poor branding can negatively impact a company’s bottom line.

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Introduction Planning an Organizations strategy is the procedure of getting information and facts from stakeholders, players in the market, a skilled enterprise, or government firms. The intention of getting facts are making a sensible and a feasible platform that any firm can put into practice and deal with. Examining real information can be an essential component in establish the level of ideas of how the firm prefers to achieve their goals within a given time period. Proper preparation makes certain the setup is, made effectively. Making a very good Strategic Plan aids a firm to put into practice its visions and missions properly, and will help the corporation to gauge its asset and weakness (Pearson And Robinson, 2011).

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In this assignment I will discuss a business “Café Vevo” located in 20 Flinders Lane Melbourne. The business offers a range of gourmet coffee products and homemade desserts for its local customers. Assessment task 1 Research: 1. Identify the purpose of your business plan • To establish the company’s vision, mission, goal and objective for the future development • By offering the designed financial planning, the company can better attract the shareholders and get the financial support from the financial institutes.

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Below is a list of the changes that will be made to this organization to improve overall employee satisfaction and efficiency with job descriptions. “Since performance evaluations provide management with essential information for making strategic decisions about employee advancement, retention, or separation” (pynes pg 304), it is important for employees to receive feedback from their supervisors and be allowed to have a voice in their future within the company as well as being proactive in improving their work environment. Future training, development, and education can be discussed at these performance evaluations. The objective is to keep an open communication with employees and make sure their needs are being met as well as the expectations of their supervisor.

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I hope to help both individuals and small businesses in my community grow and be financially successful. I plan to add Value to the clients and communities by tailoring each individual portfolio to match the industries of interest of the client, and try to support local businesses through development opportunities and using my network to give access to essential business connections and services. 2. Please detail the types of prospective clients you believe will allow you to build your business to fulfill your vision. I plan on reaching out to young working professionals who have recently entered the workforce, using my network connections within the hospitality industry to find those who need financial guidance. I also plan to reach out to the rural communities, such as farmers and small businesses, to give opportunities for investment and growth.

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Cute little Hailee Sue has saved her allowance for two months and her mother allowed her to set up a lemonade stand in her front yard with supplies she purchased from the Dollar Tree. Her mother posted on Facebook of her daughters business venture, and she slaved away making the lemonade and setting her stand up. Hailee was so excited of the five dollars she invested she made fifteen, and she was eager to start again next weekend. Her lemonade stand is a grand example of a sole proprietorship. The success, failure, profit, and/or loss is solely Haliee’s burden (SBA, n.d.).

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The name of your business is the most important, non important aspect of starting your new senior care business. The reason is simple, a business name has the chance to make the first impression on a customer. This impression, can either generate more interest or it may have no impact at all. Let's take a look how names can impact a customer's feeling. Interest-

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Non-product attributes are functional benefits, experiential benefits, and symbolic benefits (Keller 1993). Excluding advertisement, word of mouth is such a powerful tactic the brand could perform to associate with consumers. With word of mouth, customers will develop brand awareness, brand knowledge, and brand image that lead to customer-based brand equity or CBBE (Keller 2003). Keller (2001) developed pyramid models of consumer-based brand equity building steps as shown in figure 2, and six brand building blocks as displayed in figure 3. Successful brand building is to create resonance that builds relationships between the brand and its customers, which generates brand loyalty, attitudinal attachment, and community engagement as the best

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The reason for that is because you can have a great product, but to sell that product well it is important to brand yourself well. And to do that you need to avoid

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In addition companies need to deliver their products while keeping cost effectiveness in consideration. If they understand the perceived benefits of their target audience and are able to engage with them on a personal level, they can attain customer satisfaction and ultimately can have increased sales. In conclusion, conveying Unique Value proposition clearly to the customers could be a complete win/win for any business. Brand equity Formal Definition: The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.

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It helps with product identification, leads to repeated sales which creates a group of loyal customers. Effective branding gives advantage to both the marketer and the buyer (Boshoff et al 2010:250-215). Customers will also benefit from effective brand identification. A brand offers consumers security and confidence to buy the brand products or services. The consumer trusts the brand and expects quality, which is also important for the brand equity, referring to the monetary value of brand names (Boshoff et al 2010:250-215).

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