Capstone to Business Management Final Project Essay

Executive analysisTims Coffee Shoppe is located in Sunnydale, Illinois. Sunnydale is a mid-sized city with a busy descent regularize and a large university and Tims is located sea tangle dab in the middle of all in all the channel. Tims Coffee Shoppe is in need of some such(prenominal) needed modifyments and reduce things to run more smoothly. closely of Tims problems were client satiscircumstanceion, employee loyalty and marketing. The sideline pages slang a detailed review of what Tim of necessity to fix more prosperous. One of the close to primal things Tim needs to accomplish is a defineover of his gracious resource chopine to address employee training, thus creating better(p) node value as substantially as expanding the types of marketing he utilizes. If he follows ghosts he would hurl the opportunity to adjudge his long term goals such as * To in two ways r up to nowue by the end of the current pecuniary year. * To receive at least 95 pct positi ve customer feed ski binding regarding the service we provide.Regulations and ManagementsummaryThe attempt is to suggest to Tims Coffee Shoppes argonas of weaknesses where subtle improvement to blood line strategies which go off leave in the much desired and needed taxs and maturation customer traffic. It is also an attempt to provide live effective products through a change in supply and logistics for Tims Coffee Shoppe. The market cleavage is also to be altered to expand his customer base.Action ItemsThe with child(p) deal statement chosen is To realize that each guest receives prompt, professional, friendly and courteous service. To check a clean, comfort competent and well maintained expound for our guests and module. To provide at a fair impairment nutritional, well-prep ard beverages and foods-using only quality ingredients. To ensure that all guests and staff atomic number 18 treated with the dignity and attentiveness they de allot. To thank each guest for t he opportunity to serve them. By maintaining these goals we shall be guaranteed a fair expediency that exit allow us to contrisolelye to the society we serve (Missionstatements.com, 2013). on that point ar various things Tim could do to military service advance living up to this vision for his business. The following ar Short Term Goals which would be actions that should ideally be completed at heart the succeeding(a) three months.* Spend the next month analyzing the contest and brainstorm on what they dont ecstasy that we do or can offer. * Choose star or two high-pitched-profile local charity events to athletic supporter * redesign the customer service research butt on to involve new questionnaires and incentives, such as monthly drawings for supererogatory products or discounts on future purchases for customers who take the judgment of conviction to respond. (Williams, 2013) The next a few(prenominal) items atomic number 18 actions that would be Long Term Go als which should be completed by the end of the business fiscal year. * To build the troupes name recognition within the union through familiarity outreach projects (Williams, 2013) What else could Tim do to help achieve these very important goals? * Create actionable locomote within committees to ignite down workload * Be positive and energetic* Decide how you are spill to measure your success and keep track of it at regular intervals. * If your accomp whatsoever is achieving its goals, be sure to allow employees that helped. (Slutsky, 2013)HR AnalysisSummaryHuman resources help the business in many ways. However, Tim has non been taking full advantage of this valuable slam. While benignant resources handle many of the matters pertaining to the employees of a company, such as recruiting and benefits way, they also work with management to help crack long-term strategies for the growth and development of a company. HR departments often act as a physical contact between employees and management and should be where employees go for grassroots company information (Christensen, 2013). According to the files in Tims office most of his employees arevaluable assets. Employees are a critical compvirtuosont of any business. successfully managing the human resource aspect of business can be important, even for very depressed businesses such as Tims Coffee Shoppe.After all, in a service economy, employees are part of the spoken language of the product and service. Their performance, commitment and loyalty to the job are critical and can be boosted through successful HR management. However, in that respect are a few that need coaching to achieve higher customer service and company loyalty baseards, such as Darryl. The files also need to be better nonionized to achieve higher efficiency. It can become the one largest consumer of your clock and energy if you dont jazz how to handle things well. And, its still a cock-a-hoop consumer of your time and ene rgy, even if youre adept at handling such things.Action ItemsThere are numerous actions Tim should take to help this area of his business run more smoothly and effectively. These include to feed a staffing plan, find respectable employees, how to screen emf candidates, conduct personal interviews and the actual hiring process and most important of all, retaining the valuable employees and evaluating their performance as well as maintaining high standards. There are some(prenominal) steps to follow to help stay organised and achieve a highly valuable staff. The following are actions to take to maintain and educate the staff Tim already has. * Put together a human resource guideline handbook that states what policies and procedures you give and postulate the employees to follow. This handbook should address issues such as* at will employment* compensation* perquisites and bon practises* performance reviews* define offs* terminations* conflicts of use up* disciplinary process* vacation time* sick time* family time* leave of absence* employee behavior* To retain employees, your human resource management philosophy should be to eliminate things that push employees out. It should also, within reason, provide a number of things that keep force employees into the organization. Both approaches should be successful in retaining good employees as they both counteract the pulls from outside organizations (Sensible elegant Business Ideas, 2013). several(prenominal) employees will lose interest and need something new to keep their interest in your company.It aptitude be necessary to provide challenges, opportunities for furtherance and other(a) rewards. * It is important to remember that everyone including yourself, the owner, is a team. Everyone needs to be quietly evaluated on their performance and their reach should reflect that. Make sure to recognize high playing employees to upkeep their motivation to better your company and take the time to coach y our lower performing employees. Also make sure they all screw you are there to support and help them with any issues that they come across.Marketing AnalysisSummaryThe free-enterprise(a) environment, also known as the market structure, is the propellent system in which your business competes (Mack, 2013). It is the part a companys external environment that consists of other organizations trying to secure clientele in the aforesaid(prenominal) market. It is the part of the trade that includes all immediate rivals. Tim has not effectively advertised his chocolate let out. He has signage in the office that is not macrocosm put to use and the only sign that is noticed in the burnt umber shop is the Buy 10, Get 1 Free. Also, I believe that Tim heavily relies on his positioning of being near the university, bus stop and business soil to attract customers. It may work well but there is ever so more that he could do to take his business from being good to booming. Some possibly e ffective marketing ideas to promote Tims Coffee Shoppe might be* To make believe a website- Even if itis just 1-3 pages of general information, its better than nothing. Blog sites are best because Tim would be able to easily update. * Neighborhood Marketing- Take advantage of areas that are outdoors like billboards, bus-stops, park benches anywhere that authority customers might frequent. Also, partner up with other small businesses and exchange flyers to clog up out to customers. * Social Sites- Facebook and chitter* Use Guerilla Marketing tactics- Go pass out coupons at malls, pass out fliers at the college, etc. Take samples of coffee and pastries to churches or community centers. Get reviewers to come in and write an phrase about the coffee shop. * Celebrate holidays or create a family day with free drinks for kids under a certain age. * Educate your customers- Host a seminar on the use of coffee or on assorted brewing methods. Have a Coffee of the month where you can edu cate on the origin dry land of the coffee. (Reynolds, 2013)The majority of Tims Coffee Shoppes customers are the universitys students and also business professionals stopping by on their lunch breaks. A lot of the customers have filled 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. Especially 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 delight in Tims. I love the special attention, atmosphere and a coffee shop that isnt a set up for once. This images Tim that the customer is extremely p meshd 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 community coming back, such as the comment The dawning staff is RUDE or The coffee always tastes burnt. Dont know why I come back. This s hows 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 prepare analysis identifying the good, bad and potential ugly for your business is essential before pitiable forward. Strengths Tim needs to stand out from the rest of his competition. One strong specialty would be his location. Being close to the university, Business car park and bus stop is a prime location to attract business. Weaknesses Weaknesses noted on the marketing surveys are rude staff, old cash registers which make customers ready incorrect, cramped seating, slow service, not taking debit entry cards and so on. Opportunities Some opportuniti es 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 accounting system/Financial StatementsSummaryLooking at the economic situation at Tims Coffee Shoppe it is the right way 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 demanding an increase in gross gross revenue volume due 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 customers 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 multivariate be and fixed cost. multivariate costs are costs which increase nowadays in proportion 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. assume your sales exceed your variable costs, each spare unit of sales volume increases your gross winnings andyour net income. If you can lower your costs without impacting revenue and maintain the similar sales volume, your profit will go up (Kokemuller, 2013). This means if Tims profits increase so does his net income. It is very important for small business owners to understand how their various costs respond to changes in the volume of goods or function produced. The breakdown of a companys underlying expenses determines the profitable price level for its products or services, as well a s 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 hire more employees or increase the hours of existing 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 remain the same regardless of the level of sales. These expenses would include Tims rent, depreciation, the lease on the refrigerator, taxes and insurance.Problem Solving/RecommendationsSummaryThere are several things Tim could do to improve his coffee shop, especially to get it to become more vendable 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 br eak down workload * Put together a human resource guideline handbook that states what policies and procedures you will and expect the employees to follow * Expand advertising 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 finance Cost-Volume-Profit Analysis. Retrieved June 24, 2013, from