Financials and Human Resources Planning - Grading GuideMGT4.docx

Financials and Human Resources Planning - Grading Guide
MGT/465 Version 2
4
Financials and Human Resources Planning Grading Guide
MGT/465 Version 2
Small Business and Entrepreneurial Planning
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Copyright ©2016 by University of Phoenix. All rights reserved.
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Learning Team: Financials and Human Resources
PlanningPurpose of Assignment
The purpose of this assignment is to continue the process of a
team development of a business plan by preparing the
Financials and Human Resources Planning. The learning team
will use critical thinking, collaboration, and research to
complete this section of the business plan. The team will also
assess the mechanics of preparing this phase of the business

plan through an observations and reflection summary.Resources
Required
Weeks 2-5 Learning Team Assignment Instructions Financials
and Human Resources Planning Template
SCORE.org
www.SBA.orgGrading Guide
Content
Met
Partially Met
Not Met
Comments:
The team completes the SCORE.org Start-up Expense template,
and prepares and documents the pricing strategy in Part One of
the Financials and Human Resources Planning template.
The team summarizes the purpose of Financial Statements and
why it is important for small business owners to understand the
key components of a balance sheet, income statement, cash flow
statement, and break-even analysis in Part One of the Financials
and Human Resources Planning template.
The team describes how they will determine human resource
requirements during the first 12 months of operation and
provide a Human Resources Forecast that includes the following
in Part Two of the Financials and Human Resources Planning
template:
· Number of hourly employees- full time, part time

· Use of student employees- seasonal, after school
· Management structure
· Skilled labor requirements- certifications, licenses, etc.
· Volunteers to be used
· Family member employment
· The team includes charts to illustrate the Human Resource
Planning Process.
The team completes Part Three of the Financials and Human
Resources Planning template discussing Learning Team
reflection and observations.
The team includes a forecast that is 525 words in length.
The team uses a minimum 3 sources.

Total Available
Total Earned
5.5
#/5.5
Writing Guidelines
Met
Partially Met
Not Met
Comments:
The paper—including tables and graphs, headings, title page,
and reference page—is consistent with APA formatting
guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a
reference page.
Paragraph and sentence transitions are present, logical, and
maintain the flow throughout the paper.

Sentences are complete, clear, and concise.
Rules of grammar and usage are followed, including spelling
and punctuation.
Total Available
Total Earned
2.5
#/2.5
Assignment Total
#
8
#/8
Additional comments:
Title
ABC/123 Version X
1

Financials and Human Resource Planning
MGT/465 Version 2
1
University of Phoenix Material
Financials and Human Resources PlanningSection One: Start-up
Financials
Start-up Expenses- Complete the SCORE.org template and
attach as an object here:
Pricing Strategy- Document the team’s pricing strategy. Include
competitive data and factors used to develop a strategy and
model. Attach supporting documentation as needed.
Financial Statements- Summarize the purpose of Financial
Statements and why it is important for small business owners to
understand the key components of:
· Balance Sheet
· Income Statement
· Cash Flow Statement
· Break-even Analysis
Part Two: Human Resource Planning for a Start-up Business
1. Describe below how your team will determine human
resource requirements during the first 12 months of operation.
Provide a Human Resource Forecast that includes:
· Number of hourly employees- full time, part time
· Use of student employees- seasonal, after school

· Management structure
· Skilled labor requirements- certifications, licenses, etc.
· Volunteers to be used
· Family member employment
2. Include any charts your team wants to include to illustrate the
Human Resource Planning Process.Part Three: Reflection and
Observations
Answer the following questions:
1) What role did each team member provide to obtain the
business plan information?
2) What roadblocks did the team face when obtaining required
information?
3) What lessons were learned during the week’s learning team
assignment which can be applied during the specific phase of
business start-up?
4) What is the team’s overall observations of this week’s
assignment relative to the type of
information needed to develop a comprehensive business plan?
5) How does this week’s Learning Team assignment support the
Learning Objectives?
References
APA-formatted citation
APA-formatted citation

Copyright © XXXX by University of Phoenix. All rights
reserved.
Copyright © 2016 by University of Phoenix. All rights reserved.
Executive Summary
MGT/465 Team C
Executive SummaryPart One: Executive Summary Elements
Learning Team C’s Vision Statement for the business is:
A vision is a future state that is desired by a firm. It is a source
of inspiration to a firm. It portrays an image about what a firm
wants to become (Mariotti & Glackin, 2015). In addition, it
indicates where a firm wants to journey.
Vision Statement
It is Oh Taste and See’s obligation to provide decadent and
indulgent products to customers irrespective of what they can
and cannot eat. Oh Taste and See strive to be the leading choice
of customers in Nashville within five years by offering fresh,
quality baked products. Customer satisfaction will be top
priority; therefore, the business will gather customer feedback
and use the information to improve the products. Thus, ensuring
that the baked products meet customer needs and expectations
to generate repeat purchases for the business. Accordingly, the
products will be made to bring excitement and happiness to each
consumer. Oh Taste and See will nurture and grow the business
based on innovation, customer focus, customer satisfaction,
results, delivery, trust, and meeting expectations.Executive
Summary Data
Executive Summary Element
Research Results
Marketing

Product/Service Idea- Describe Product/Service Characteristics
Benefits/Features
Operating a bakery can be a difficult enterprise with startup
equipment costs, production deadlines, adhering to safety and
maintenance regulations and heavy local competition for
customers. There are, however, some key benefits of running a
bake shop. For instance, there is control over a retail business
in which a consistent customer base can be developed and the
ability to expand when the time is right. Another pro to running
a bakery is control over the products provided and their
amounts. The options include an almost endless variety of
bread, pastries, cakes, brownies, and pies. Therefore, focusing
on a particular product line to specialize in can perfect the
recipe and the manufacturing of it. For instance, central items
might be different muffins and bagels that serve the breakfast
crowd; then there are the holidays and the ability to make edible
themed treats around that particular holiday. Another benefit is
the freedom to be creative, as the bakery business offers the
potential for significant ingenuity. Management and staff can
experiment with original recipes, exciting presentations of
products and can express the bakery's style with decorations.
Employees who are allowed to express their ideas are more
satisfied with their work than those who are expected to
produce the same items day in and day out. Another benefit of
running a bakery is that expansion can be done to the business
as often as needed. Sometimes there is the opportunity to move
into a larger area or to add on to the present facility. However,
the number of different products offered and the amounts that
are baked can be increased, even if the physical size is not
enlarged.
Unique Features
Besides being able to own your own business, set the rules, and
be as creative as you wish you can also be considered a niche
bakery. With so many diet plans and restaurant owners catering
to certain eating habits, so can the bakery. The bakery doesn’t
have to just cater to a sweet craving. It can also avoid gluten-

contained product meaning regular wheat flour cannot be used.
The average grocery store might offer one or two selections for
bread and other pastries at most. With a bakery, you can meet a
local niche need like serving gluten-free products to establish
an instant business relationship.
Limits and Liabilities
Limits for Oh Taste and See will be that no dinner service is
offered by the company. While there will be sandwiches
provided for lunchtime and these could be sold in the evening,
there is no dinner menu per se available. Therefore, Oh Taste
and See is limited to mainly the breakfast and lunch crowd. As
for liabilities, these include general legal responsibilities to
cover the company in case of customer accidents and workmen’s
comp insurance in case of employee calamities. Furthermore, if
delivery service becomes available, auto insurance would also
be a liability that would need to be covered. However, Oh
Taste and See does not anticipate the aforementioned limits and
liabilities to be a hindrance in is goal of creating newly baked
foods, offered with outstanding customer service, and provided
for a nominal price.
Production and Delivery or
Service Execution
Putting execution before a strategy is an essential trait in
today’s competitive world. The business environment is a
chaotic, sometimes unpredictable place. However, Oh Taste and
See will hand make and bake daily the products to ensure
quality and freshness. With the fact that bakeries have such low
margins, execution is one of the keys to success for the
company. According to Guillen and Garcia-Canal (2012), Bimbo
is now the world’s largest bread bakery, initially founded in
1945 a Spanish immigrant to Mexico used execution excellence
to adapt to the bakery business quickly. In 1996 Bimbo moved
to the U.S. and strategically utilized efficient delivery routes,

which gave them the upper hand (Guillen & Garcia-Canal,
2012). “By 2012 it had swallowed up more than a dozen U.S.
firms, including the bakery divisions of Weston Foods and Sara
Lee” (Guillen & Garcia-Canal, 2012, para. 2). Thus, just one
example of how execution is vital in the production and
delivery of a product.
Suppliers
Yeast will be out-sourced to a local farmer that provides some
of the finest yeast in the South. Salt will be ordered out of
country from India where it is of great quality and at a much
cheaper price than other locations. Flour will also come from
the same distributor as the yeast. However, the pastry supplies
will come from Pastry Chef Central Inc. and the bakery
equipment will come from the WebstaurantStore Food Service
Equipment and Supply Company.
Intellectual Property/Permits
“Trademarks are used to protect a business’s logo, designs,
symbols, phrases, or name so that competitors can’t use the
same or extremely similar marks or name that you do, confusing
the two businesses.”(Sweeney, 2015) The idea is that trademark
is property;thus, being able to register a trademark give
exclusive rights to use it. Nobody else will be able to legally
encroach upon it; therefore, being able to properly protect your
trademarks will allow for continued success. Oh Taste and See
will eventually have a logo with which consumers will
recognize the business, but this has yet to be decided. permits
include a business license, sales tax permit, and a certificate or
permit through the local department of health to sell food.
Business Location- Describe Planned Business Location
Home Based
N/A
Multiple Locations
Oh Taste and See will have multiple locations. There will be a
main bakery in the city of Nashville, specifically downtown, a

place where entertainment attracts large numbers of visitors and
locals. Nashville, also known as Music City, offers both day and
nighttime attractions (Nashville Farmers Market, 2018). Having
the main bakery in the downtown location will allow for high
volume traffic. The second location of the bakery will be a
stand at the local farmer’s market. The Nashville Farmer’s
Market is a popular central destination in Nashville Tennessee
(Nashville Farmers Market, 2018). The market has “open-air,
outdoor Farm Sheds, which consists of two large covered sheds
that serve as a home to more the 150 farmers and merchants
during peak growing season. “Throughout the year, shoppers at
the Nashville Farmer’s Market can fine ranchers, dairy farmers,
cheese-makers, bakers, food artisans, crafters, and flea
merchants, as well as farm-direct products like honey, jams,
jellies, and more” (Nashville Farmers Market, 2018).
Lease Facility- Existing
Facility
Both the downtown location and the Farmers Market have
established facilities that can be leased for use. Leasing space
and some equipment reduces the required start-up capital and
also provides greater flexibility (Mariotti & Glackin, 2015).
Virtual
The bakery will have a website that will display menus, contact
information, and order capabilities.
New Facility
Construction- Own
N/A
New Facility Construction-
Lease
The construction that would be needed for the facility would be
to custom branding elements. The kitchen, prep, and sales floor
are already established and partly equipped and would not
require additional construction.

Other- Specify
Additional Executive Summary Information- Specify Below
Part Two: Reflection and Observations: Marketing analysis
1) What roadblocks did the team face when obtaining required
information?
The team seemed to obtain information efficiently and
effectively. Some things that stood out that were harder to find
or figure out how to do were the intellectual property rights and
limits and liabilities. Making sure you as a business owner is
covered on all fronts is very important.
2) What lessons were learned during the week’s Learning Team
assignment which can be applied during the specific phase of
business start-up?
Sourcing suppliers was more challenging than expected. There
are tons of options out there so figuring out how you want to
source ingredients is where you need to start. Do you want to
keep costs low? Do you want to source all of your ingredients
locally to support your community?
3) What is the team’s overall observations of this week’s
assignment relative to the type of
information needed to develop a comprehensive business plan?
Overall, the team had a great grasp on what kind of information
is needed for a successful business plan. The more details that
are hammered out from the beginning will provide for a
smoother execution of the business plan. Things like location,
suppliers, vision, and distribution are all seemingly little things
alone and could be figured out on the fly, but when they are put

together they create one working business. Those details are
necessary to know from the beginning.
4) How does this week’s Learning Team assignment support the
Learning Objectives?
This week’s assignment really had parallels to the ability to
conduct a feasibility study and creating a business plan. All of
these elements that are included in the executive summary are
details that feed into doing a feasibility study. Also, branding a
marketing come after these are figured out. It has really shown
us what must go into the start of a business.
Summary of Executive Summary Data
A vision statement is the framework of strategic planning,
supplying the answer to – “where do we want to go?” (Ward,
2017). Therefore, Oh Taste and See’s vision statement shows
the direction the company will take to accomplish its goals and
sets a standard of recognition for the business. A good vision
statement goes beyond one or two years and Oh Taste and See’s
reaches up to five years; thus influencing decision making and
resource allocation significantly (Ward, 2017).
The benefits of Oh Taste and See are fresh baked goods, served
by excellent customer service, at low prices. With features such
as bread, pastries, cakes, brownies, and pies, including the
unique features of distinct recipe request and the bakery’s
unique pretzels. “Benefits are the reason customers buy the
product or service,” and features are characteristics that a
product or service does or has (Kauffman Foundation, 2007).
Therefore, the benefits and features that Oh Taste and See have
are of excellent quality, with unique features resulting in higher
customer satisfaction.
However, there are limits and liabilities, as there are with any
company. Oh Taste and See has limits in that it is not
necessarily a dinner source; therefore, it mainly caters to the
breakfast and lunch crowds. As for liabilities, there are general,

employee, and automobile, where required. Therefore, Oh Taste
and See has purchased bakery insurance to include general and
product liability; along with workers compensation,
unemployment, disability, and medical insurance. Furthermore,
Oh Taste and See will obey all food safety laws, obtain required
licenses and permits, and pass all inspections.
The production and delivery of Oh Taste and See’s bakery
offerings follow those of most bakeries; however, the care that
goes into each item is unique and does not consist of an
assembly line of employees on autopilot. The delivery of the
just now baked goods through customer service associates who
are friendly, welcoming, and delighted to serve consumers are
of exceptional value. The production begins with handmade and
fresh baked items and the delivery consists of outstanding
customer service in an inviting atmosphere.
Furthermore, suppliers for Oh Taste and See include Pastry
Chef Central Inc. and WebstaurantStore Food Service
Equipment and Supply Company; along with a local farmer and
salt obtained from India. Although the Pastry Chef Central is
located in Florida, it offers a better variety of bakery supplies
than the local market. As for the WebstaurantStore, it has a vast
quantity of restaurant equipment and is located in Kentucky
with a ground shipment time of one day; thus, its lower prices
and location make it a better fit for purchasing equipment and
supplies, than the surrounding area’s selection
(WebstaurantStore, 2018).
Intellectual Property/Permits consists of a yet defined logo that
will give the company easy recognition to consumers. However,
the permits include a business license, sales tax permit, and a
certificate or permit through the local department of health to
sell food.
Oh Taste and See will have multiple locations, with only one

brick and mortar location in the downtown Nashville area and a
stand at the local farmer’s market; along with a virtual site on
the web with order capabilities. Although it will feel like a
family atmosphere, this will not be a home-based enterprise, as
both the downtown location and the farmer’s market stand have
established facilities that can be leased for use.
References
Guillen, M.F., & Garcia-Canal, E. (2012, October). How the
world’s largest bakery puts execution before strategy. Harvard
Business Review, (), .
Retrieved from https://hbr.org/2012/10/how-the-worlds-largest-
bakery-puts-execution-before-strategy
Kauffman Foundation . (2007). Product/service features and
benefits. Retrieved from
https://www.entrepreneurship.org/articles/2007/01/productservi
ce-features-and-benefits
Mariotti, S., & Glackin, C. (2015). Entrepreneurship & small
business management.University of Phoenix eBookcollections.
Nashville Farmers' Market. (2018). Retrieved March 11, 2018,
from http://nashvillefarmersmarket.org/
Sweeney, D. (2015, August 04). Three Ways to Protect Your
Intellectual Property. Retrieved March 11, 2018, from
https://www.fundera.com/blog/three-ways-to-protect-your-
intellectual-property
Ward, S. (2017). Vision statement definition. Retrieved from
https://www.thebalance.com/vision-statement-2947999
Copyright © XXXX by University of Phoenix. All rights
reserved.
Copyright © 2016 by University of Phoenix. All rights reserved.

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