Management Issues in a New Business Business Plan by Pico

A review of the management issues involved in the establishment of an Internet cafe and karaoke bar business.
# 146162 | 2,693 words | 6 sources | APA | 2010 | BD
Published on Dec 19, 2010 in Business (Management) , Business (Business Plans)


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Description:

The paper explores five management issues that are crucial to the new venture's success; the external environment, managing information, decision-making, motivation and organizational culture. The paper shows how these are key success factors that must be combined to create an organizational culture which will serve as the source of a sustainable competitive advantage in the new Internet cafe and karaoke bar business.

Outline:
Executive summary
Introduction
Research Procedure
Findings
Conclusion and recommendations

From the Paper:

"If the five forces model is applied to the external environment, then it is clear that the combined internet cafe and karaoke bar business will face considerable competition. Considering that the business is not capital intensive, the threat of new entrants is high. There is also a high threat of substitute products as most of the people who live in the local community possess computer systems of their own. It is an affluent location and therefore a lot of the young people who should be targeted in the advertising have their own computer systems as the substitute products. The bargaining power of buyers is medium since although the customers posses computer systems of their own, they do not have any other karaoke bars in the location. Therefore the young customers who constitute the main target market of the business will not be motivated to argue too much about the price. However if the price of admission is too high, then it will turn them away. The bargaining power of suppliers is not high since the computer equipment and sound systems are not expensive. However combining these factors, it is clear that the combined internet cafe and karaoke bar business will be facing substantial threat of competition."

Sample of Sources Used:

  • Baldwin, E., M. Curley (2007) Managing IT Innovation for Business Value: Practical Strategies for IT and Business Managers. Sydney: McGraw-Hill.
  • Dess, G. G. (2007). Strategic Management: Creating Competitive Advantage. Sydney: McGraw-Hill.
  • Hill, C., G. Jones (2007). Strategic Management Theory: An Integrated Approach. Sydney: McGraw-Hill.
  • Hitt, M. A. (2007) Strategic Management Concepts. New York: Wiley.
  • Kotler, P., G. Armstrong. (2005). Principles of Marketing. New York: Prentice Hall.

Cite this Business Plan:

APA Format

Management Issues in a New Business (2010, December 19) Retrieved May 24, 2022, from https://www.academon.com/business-plan/management-issues-in-a-new-business-146162/

MLA Format

"Management Issues in a New Business" 19 December 2010. Web. 24 May. 2022. <https://www.academon.com/business-plan/management-issues-in-a-new-business-146162/>

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