Mock Business Assessment Paper
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This was a school project the required me to go through a business simulation and give an assessment of the current conditions followed by suggestions for improvements.
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![Running Head: Final Project<br />Final Project: Tim’s Coffee Shoppe<br />Bridget Quattrucci<br />Kaplan University<br />MT299-01 Career Capstone<br />August 28, 2010<br />Table of Contents<br />Final Project: Tim’s Coffee Shoppe<br />Executive Summary<br />An assessment of Tim’s Coffee Shoppe is necessary before any decisions about the business can be made. Knowledgeable decisions can be made with a clear picture of how the business is currently functioning. To get a clear picture several areas of Tim’s Coffee Shoppe need to be analyzed. The following list summarizes these areas and their significant topics.<br />,[object Object]](https://image.slidesharecdn.com/bridgetquattruccunit9finalproject-13033921406648-phpapp01/85/Mock-Business-Assessment-Paper-1-320.jpg)
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Appendix 1
Student Guide to Case Analysis Using the American Management Association 8-step Process.
Sally Armstrong, May 2005. Davenport University.
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Patten, D. (undated). Strategic Case Analysis. Davenport University.
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A compliance audit examines an organization's human resources practices and policies to ensure legal compliance. Frightening statistics show over 82,000 discrimination charges were filed in 2007 and over $185 million in back wages recovered in 2008. Compliance audits are recommended for growing companies, upon changes in management or laws, or before a sale. A compliance audit should review payroll, records, handbooks, policies, and position descriptions to identify issues. Any issues identified would be reported and addressed to prevent costly litigation.
Sba POB production Emmanuel Blackman
J's Table is a bakery located in La Horquetta, Trinidad that specializes in pastries. The business aims to meet customer needs through pleasant service, reasonable costs, and excellent pastries. The location was chosen based on customer demand and availability of suitable buildings. The bakery employs skilled bakers and kitchen assistants, semi-skilled cashiers, and unskilled drivers. Production involves baking bread, cakes, and pastries for local customers. Raw materials are sourced from local wholesalers and catering is provided to a nearby hotel.
Sba Emmanuel Blackman POB
J's Table is a bakery located in La Horquetta, Trinidad that specializes in pastries. The business employs a baker, kitchen assistant, cashier, and driver to produce and deliver breads, cakes, and pastries to meet customer needs at reasonable prices. The entrepreneur's roles include managing risks, providing excellent customer service, and continuously evaluating performance.
Sba Emmanuel Blackman POB
J's Table is a bakery located in La Horquetta, Trinidad that specializes in pastries. The business employs a baker, kitchen assistant, cashier, and driver to produce and deliver breads, cakes, and pastries to meet customer needs at reasonable prices. The entrepreneur's roles include managing risks, providing excellent customer service, and continuously evaluating performance.
Sba POB Production Created by: Emmanuel Blackman aka Baby Hulk
J's Table is a bakery located in La Horquetta, Trinidad that specializes in pastries. The business was started to meet the needs of the local community for baked goods at a reasonable cost while providing excellent quality and customer service. The location was chosen based on market research that showed demand and availability of affordable commercial space. The bakery employs skilled and unskilled workers to produce and deliver products daily from 8am to 4pm. Fixed capital comes from loans and savings, while working capital is sourced from an overdraft and savings. The entrepreneur's role is to manage risks, provide excellent customer service, and continuously evaluate performance. The bakery produces goods for local domestic sales and has potential for growth through
Slide share Institute for Quality Assurance London - QualityWorld Customer ...
Another classic article on Customer Focus - while a number of approaches have evolved over the years, the foundation elements remain unchanged. Again, many organisations 'talk a good game' when it comes customers, customer focus or customer centricity. But as we all know, 'talk is cheap' and 'talk' alone doesn't get the job done. One needs to understand the true requirements for being customer focused. One needs a 'strategic customer relationship management' system as discussed in other of my SlideShare uploads. Hopefully you will find that this article helps to continue to provide a 'directionally correct' viewpoint! Enjoy!
Acct 504 mart perfect education acct504mart.com
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Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: Compare and contrast sole proprietorships, partnerships, and corporations.
Acc 291 entire course and final guide
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ACC 291 is a online tutorial store we provides ACC 291 Entire Course And Final Guide You can find here.
Current assets
When it comes to a company's classified balance sheets you will find current assets sheet. Current assets is cash or cash equilivants that the company will use. What you will find on a current asset sheet is Cash and equilvants, Short term investments, Accounts receivables, and other assets.
Identifying Problems in Operations
The document provides suggestions for identifying problems in business operations before they become severe issues. It recommends establishing internal controls, like segregating financial duties, to prevent fraud. It also suggests business owners get involved in daily operations to notice inefficiencies and problems employees may be unwilling to report. Producing an annual budget and reviewing monthly variances is also key to timely problem identification. For example, one company discovered it had been double billed by reviewing a large phone expense variance. Proactively managing operations through controls and budgeting allows problems to be addressed before significantly impacting profits.
Page 7 of 30Business Plan for a Startup BusinessThe business p.docx
Page 7 of 30Business Plan for a Startup Business
The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. It contains more than 150 questions divided into several sections. Work through the sections in any order that you want, except for the Executive Summary, which should be done last. Skip any questions that do not apply to your type of business. When you are finished writing your first draft, you’ll have a collection of small essays on the various topics of the business plan. Then you’ll want to edit them into a smooth-flowing narrative.
The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.
This business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances. Before you begin, review the section titled Refining the Plan, found at the end. It suggests emphasizing certain areas depending upon your type of business (manufacturing, retail, service, etc.). It also has tips for fine-tuning your plan to make an effective presentation to investors or bankers. If this is why you’re creating your plan, pay particular attention to your writing style. You will be judged by the quality and appearance of your work as well as by your ideas.
It typically takes several weeks to complete a good plan. Most of that time is spent in research and re-thinking your ideas and assumptions. But then, that’s the value of the process. So make time to do the job properly.Those who do never regret the effort.And finally, be sure to keep detailed notes on your sources of information and on the assumptions underlying your financial data.
Business PlanLaMeka Wright-Potter, Julius Potter, & Audrey Wright
Cate’s TLB LLC
Street Address
1515 Overton Crossing
Memphis, Tennessee 38120
800-210-1200
800-210-0200
[email protected]
Table of Contents
I.Table of Contents3
II.Executive Summary4
III.General Company Description5
IV.Products and Services6
V.Marketing Plan7
VI.Operational Plan15
VII.Management and Organization19
VIII.Personal Financial Statement20
IX.Startup Expenses and Capitalization21
X.Financial Plan22
XI.Appendices25
XII.Refining he Plan26
Executive Summary
Write this section last.
We suggest that you make it two pages or fewer.
Include everything that you would cover in a five-minute interview.
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be?Who are the owners? What do you think the future holds for your business and your industry?
Make it enthusiastic, professional, complete, and concise.
I.
W trin19
Small businesses face several human resource compliance risks including exposure to workplace litigation, difficulties following current benefit regulations and laws, lack of qualified HR guidance to properly implement policies and procedures, errors from paperwork administration challenges, and lack of coordination between HR functions like payroll and benefits. These compliance issues can be avoided with outside help from HR consultants or services that can help small businesses focus on their core business objectives instead of getting bogged down in HR administration.
The Complete Small Business Owner's Guide to Managing Money, Time, and Talent
This document provides tips and guidance for small business owners on managing money, time, and talent. It covers various topics:
1. Money management tips including having a business plan, marketing plan, cash on hand, and willingness to hire for weaknesses.
2. Time management tips such as organizing, prioritizing, focusing, and delegating. Getting time back involves minimizing distractions, avoiding low-value customers, and dedicating time each day to strategic planning.
3. Hiring tips including defining needs, affording employees, and knowing when to invest in top talent.
Throughout, it shares advice from experts on maintaining financial stability, leveraging technology, overcoming common mistakes, and boosting
Running Head Staffing Plan For A Growing Business 1Runni.docx
Running Head: Staffing Plan For A Growing Business 1
Running Head:Staffing Plan For A Growing Business 3
Staffing Plan for a Growing Business
Student’s Name
Instructor’s name
Affiliation
Course
Date
Starting a small business like an in-home day care business from start-up to success is similar to parenting. After you have worked hard to get customers in the door, you find that you have more work than the current staff can handle. Growth of a small business like this one requires having the right people and staff at the right time. Since the business needs to expand, the challenge is to adopt staffing strategies that not only meet current staffing needs but also keep the channel full. However, by the creation and use of the correct staffing model, a small business like the day care business can be able to maximize efficiency by ensuring it is staffed with the right number of people, possessing the relevant skill sets to meet critical business needs at the proper time. Unlike large businesses, where gaps in employment can be covered by other areas and overstaffing can be absorbed until attrition occurs, the day care business is just small and one employee represents a major percentage of the total staff ( Bechet, 2008).
An efficient staffing model makes one understand how workforce is acquired, deployed and retained. The hardest task for any growing business is deciding the most appropriate staffing model since it will dictate all other steps that follow thereafter. Collareri (2003), states that no single staffing model, they work in combination. Before deciding which model to use for the daycare business, it’s important to note the major elements of the staffing models-staffing quantity and staffing quality. Staffing quantity basically entails having enough people to conduct the business. On the other hand staffing quality is concerned with the types of people brought into, moved within, and retained by the organization.
One of the staffing models that can be used in the day care business is Staffing Quantity Levels model. This model attempts to match the staffing level of the organization with the, projected staffing availability and the staffing requirements, creating a balance between overstaffing and understaffing (Heneman & Judge, 2015). As the business is growing we don’t want to overstaff as it can result in employees standing around with nothing to do. However, it can also result in better customer service in terms of quantity and quality. We want to avoid understaffing as I can result in projects not being completed in a timely fashion or in projects being done in haste by an inadequate number of staff people in order to meet strict deadlines.
Another model would be Staffing Quality Person/job match. This construct seeks to match employee personality and talents with the requirements and of specific tasks for the accomplishment.
Similar to Mock Business Assessment Paper (20)
6 Effortless Ways to an Efficient Payroll Process Enhancing Employee Retention!
6 Effortless Ways to an Efficient Payroll Process Enhancing Employee Retention!
Wahid’s hypothesis the key of errors in business finance
Wahid’s hypothesis the key of errors in business finance
10Appendix 1Student Guide to Case Analysis Using the Ameri.docx
10Appendix 1Student Guide to Case Analysis Using the Ameri.docx
Sba POB Production Created by: Emmanuel Blackman aka Baby Hulk
Sba POB Production Created by: Emmanuel Blackman aka Baby Hulk
Slide share Institute for Quality Assurance London - QualityWorld Customer ...
Slide share Institute for Quality Assurance London - QualityWorld Customer ...
Page 7 of 30Business Plan for a Startup BusinessThe business p.docx
Page 7 of 30Business Plan for a Startup BusinessThe business p.docx
The Complete Small Business Owner's Guide to Managing Money, Time, and Talent
The Complete Small Business Owner's Guide to Managing Money, Time, and Talent
Running Head Staffing Plan For A Growing Business 1Runni.docx
Running Head Staffing Plan For A Growing Business 1Runni.docx
Mock Business Assessment Paper
- 2. Health and Safety Regulations
- 4. Management- The primary functions of management are planning, organizing, controlling, and leading.
- 5. Staff Issues
- 6. Efficiency and Staying Competitive
- 7. Diagram
- 9. Finance and Accounting- Financing funds business activities while accounting tracks business activities.
- 10. Assets
- 11. Inventory
- 12. Records
- 13. Diagram
- 14. Financial Statements- The financial statements are used to give a picture of how the business is functioning financially.
- 15. Diagram
- 17. Problem Solving- There are many solutions to the problems that Tim’s Coffee Shoppe faces.
- 19. Meeting health and safety requirements.
- 20. Compliance with employment laws.
- 22. Ensuring efficiency and competitiveness.
- 23. Implementing the proper rewards and punishments
- 24. Attending to the financial needs of the company.
- 27. Employers are required to post certain information for employees to see. OSHA requires employers to post an OSHA poster in a well-known place so that employees can see what their rights and responsibilities are with regards to health and safety (Bohlander, Snell, 2007). The EEOC also requires that an EEOC poster be displayed in a prominent place so that employees can be informed of their rights and responsibilities regarding discrimination in the workplace (Equal Employment Opportunity Commission [EEOC], n.d.). These posters are displayed at Tim’s Coffee Shoppe, but they are completely covered by other papers on the bulletin board where they are posted and this would be considered a violation. There are other health and safety concerns to be addressed.
- 28. There are health and safety issues regarding storage at Tim’s Coffee Shoppe. The office could be considered a fire hazard because computer boxes are everywhere; it should be noted that this computer could replace the inefficient WWII typewriter currently in use. That is not the only storage issue as the inventory is stored on the same shelves as painting and cleaning supplies. Food must be protected at all times from cross contamination with any substance of public health concern (Illinois Joint Committee on Administrative Rules, Section 760.120, 2006). These concerns only require reorganization while EEO concerns will require more to assure compliance.
- 30. Post the OSHA and EEOC posters on a wall in the break room and save the bulletin board for other announcements.
- 31. The break/storage room needs to be reorganized and all food related inventory must be separated from supplies that contain chemicals.
- 32. The office also needs to be reorganized and the typewriter should be replaced with the computer that is in boxes.
- 33. Find an application that asks if applicants can legally work in the U.S. and that does not ask for dates in the education section.
- 35. Look at Replacing Darryl Pettitte if his attitude about pay does not change. Possible replacements that should be considered are Koyo Matsui and Eugene Clemens because they are both knowledgeable employees who are happy at Tim’s Coffee Shop.
- 36. Purchase a new register and accept credit/debit cards to stay competitive.
- 37. Reduce the employee of the month reward to $50 a month to reduce costs. Begin buying lunch for the staff once a month for every month that store goals are met so that more than one employee is rewarded for hard work.
- 38. Create an appropriate structure for disciplining employees for repeat offences to ensure that they are motivated to follow the rules of the company. This structure should be incorporated into a new employee handbook that can be used to inform employees of company policies and procedures.
- 39. Finance and Accounting Issues
- 40. Seek the assistance of a financial manager to ensure that financing for assets and inventory at Tim’s Coffee Shoppe is done appropriately.
- 41. Work with the financial planner to choose the correct business formation for Tim’s Coffee Shoppe. Consider a Limited Liability Company (LLC) for the benefits it provides in having the qualities of both a sole proprietorship and a corporation.
- 42. Hire an accountant to implement accounting practices at Tim’s Coffee Shoppe.
- 44. Have the accountant that is hired compile the financial statements correctly.Conclusion<br />In conclusion, the analysis of Tim’s Coffee Shoppe is moderate. This company is not operating as efficiently as it could be, but it is not a hopeless case either. The suggested solutions address the weaknesses, opportunities, and threats that Tim’s Coffee Shoppe faces. Implementing the suggested changes will make Tim’s Coffee Shoppe a stronger competitive force.<br />References<br />Duchac, J., Reeve, J., & Warren, C., (2008). Accounting I. Mason, Ohio: Cengage Learning.<br />Fotolia, (2005). Coffee beans and a cup of coffee. Office.microsoft.com: Microsoft Corporation. Retrieved from http://office.microsoft.com/en-us/images/results.aspx?qu=coffee#pg:4|mt:2|.<br />Equal Employment Opportunity Commission, (n.d.). EEOC poster request form [Electronic version]. Equal Employment Opportunity Commission. Retrieved from http://www1.eeoc.gov/employers/poster.cfm.<br />Veer Images, (2009). Lady in a cafeteria. Office.microsoft.com: Microsoft Corporation. Retrieved from http://office.microsoft.com/en-us/images/results.aspx?qu=coffees#pg:8|mt:1|.<br />Bohlander, G., & Snell, S., (2007). Managing human resources, fourteenth edition. Mason, Ohio: Thomson Higher Education.<br />Illinois Joint Committee on Administrative Rules, (2006). Section 760.120 general food protection. State of Illinois. Retrieved from http://www.ilga.gov/commission/jcar/admincode/077/077007600B01200R.html.<br />Longnecker, J.G., Petty, J.W., Palich, L.E., & Moore, C.W. (2010). Small business management. Mason, OH: Cengage. <br />