...Assignment 1: To Build or Buy Due Week 4 and worth 240 points Select a small business that you visit often (e.g., coffee shop, bookstore, sporting goods store, etc.). Write a 6-8 page paper in which you: 1. Craft a brief (1-2 pages) strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. 2. Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain your reasoning. 3. Discuss the most appropriate form of ownership for your new business (assuming your current financial situation). 4. Outline a business plan for your business. Visit http://www.sba.gov for tools and templates. 5. Include at least two (2) references outside the textbook. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: • Analyze the nature of entrepreneurship, business ethics, and social responsibility...
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...Assignment 1: To Build or Buy Barbara Manley Professor: Angela Harris Business 402- Small Business Management May 1, 2015 The small business that I chose to compete with is a beauty shop that I visit weekly. This beauty shop is located in the city of Dale City, VA. This Business is called Images Beauty Shop. Images Beauty Shop is surrounded by several different types of businesses such as schools, grocery, and a few other retail stores. Images Beauty Shop was owned by older women previously, but the owner moved to a different part of the State to resume her business. Images Beauty Shop is now owned and operated by a single individual and offers competitive prices when compared to similar businesses in the area. Business at Images is great. The Business is making a profit of 4,000 dollars a month on average after expenses. I feel that the business could generate at least double what it is currently making if the owner would incorporate advertising and other marketing strategies to promote the business. Images get most of its business through word of mouth, which is great for the business. Images provides serives all cultural groups and provides quality services such as haircuts, shampooing, wash and sets, relaxers, and hair coloring. Also the company is advertising for at least 2 more hair stylist to serve women of all ethnic groups to expand its business. From my point of view; from being a long term customer, these are some of the issues and dissatisfactions...
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...To Build or Buy Small Business Management 10/30/2014 People love to socialize, have fun, let loose and forget about their worries and what better place to do that than at a local dance bar. For hundreds of years, bars have been around ensuring that people are having a great time and enjoying their drink of choice. Bars will never fade away and go out of style and every city and town could always use something new and exciting that will help draw them away from one bar and to another. Everyone enjoys dancing, fun music, great drinks and entertainment throughout the whole year. Lincoln, Nebraska has around two hundred and fifteen thousand people and is always growing. It is most known for the University of Nebraska where college sports is always dominant, so that means when school is in session there are thousands of college kids ready to party and let loose from all their studying. To the west in Lincoln there is a new district that is growing steadily with new restaurants and bars. This is all within walking distance from the football stadium and the newly built arena where concerts and basketball games are played. In this area there is a city block that has two levels of bars and restaurants and an outdoor patio with a giant big screen television outside for everyone to watch major events. This place is called the rail yard since it was built right where the train station used to be many years ago. At the rail yard people have their choice of choosing...
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...To Build, Buy, or Trade Talent: That Is the Question Behind Talent Management By Dr. John Sullivan and Master Burnett COPYRIGHT © 2007-2008 LINKAGE. ALL RIGHTS RESERVED. 2 All around the globe, the transformation of traditional staffing into talent management is happening among leading organizations. Like many evolutionary changes, this one got off to a slow start, but it is picking up momentum exponentially. Driving this transformation is the realization by senior leadership that talent — as much as, if not more than, technology — is the driver capable of increasing or limiting the capability or capacity of the organization. Supported by the select few human resource professionals who "get it" and a host of talent imported from other functions, these organizations are going where none have gone before, establishing new practices that demonstrate talent management is as much a science as any other management discipline. Capability and Capacity Planning At the core of this transformation is the application of a science known as capability and capacity planning (CCP), long used in other areas of the business, to the macro-level talent pool that makes up the organization. Capability and capacity planning from the talent management perspective is all about balancing the "load" of labor needed by an organization to meet or exceed its strategic objectives with the optimal mix of "resources" capable of doing so. CCP is in use throughout most organizations and can...
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...Assignment 1: To Build or Buy Student Professor: Business 402- Small Business Management February 1, 2014 The small business that I chose to compete with is a barber shop that I frequently visit. This barber shop is located in the small town of Charles Town, WV. This Business is called Sharp Cutz Barber Shop. Sharp Cutz is surrounded by several different types of businesses such as schools, grocery, and retail stores. Sharp Cutz was owned by a different barber previously, but the owner moved to a different part of the State to resume his business. Sharp Cutz is owned and operated by a single individual and offers competitive prices when compared to similar businesses in the area. Business at Sharp Cutz is good. The Business is making a profit of 2,000 dollars a month on average after expenses. I feel that the business could generate at least double of what it is currently making if the owner incorporated advertising and other marketing strategies to promote his business. Sharp Cutz gets most of its business through word of mouth, which is great for the business. Sharp Cutz serves all cultural groups and provides quality services such as haircuts, shape ups, beard trims, mustache trims, and razor shaving. Also the company is advertising for a hair stylist to serve women of all ethnic groups to expand its business. From my point of view; from being a long term customer, these are some of the issues and dissatisfactions that I have had with the business...
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...To Build or Buy Strayer University Course: BUS 402 January 29, 2012 My business strategy is to purchase an existing tea and coffee shop which is located a mile away from where I work in Ashburn, Virginia, the business is call Sakasa tea and coffee. Sakasa is located next door to George Washington University and directly across is a chick fil a and a small hotel also it is right off a major highway so it has a great location. The reason the owner is selling is because of health issue and as a result, he cannot run the business the way it should. The business is making a profit of $2000.00 dollars a month on average after paying all expense. But I feel he can generate $5000.00 a month on average if he markets the business. The current owner never advertises Sakasa tea and coffee in the area. Therefore, I assume since he is located next to a major University he did not have to do any advertising and it was all word of mouth by the students which is a great. Sakasa serve a variety of hot and cold tea and coffee, they use only 100% organic Fair Trade coffee and espresso beans (Sakasa tea & coffee, 2008) . They also freshly roast all coffee beans locally, so you get the true magical flavor of every bean. It is truly amazing. Also Sakasa feature a huge selection of loose leaf teas, they also has a variety of savory tea sandwiches, assorted sweets, and freshly baked scones which served with different types of jam and English Devonshire cream(Sakasa tea & coffee, 2008)...
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...Assignment 1: To Build or Buy Small Business Management Business 402 July 27, 2014 Assignment 1: To Build or Buy 1. Craft a brief strategy for a business concept that would directly compete with the small business you selected. As an entrepreneur one must be willing to take risks and face uncertainty in order to pursue an opportunity and to make a profit (Scarborough, 2012). 7-Eleven is a very successful brand and franchise that is known worldwide. As a frequent patron of this established, an opportunity has been identified to directly compete with 7-Eleven. As a competitor in the convenience store market the establishment would be called G’s Stop N’ Go. As a direct competitor, research is necessary to understand the strengths and weaknesses of 7-Eleven to be able to compete and make effective decisions. From state to state and city to city 7-Eleven’s can be found everywhere are very visible and known. But based on the companies SWOT analysis a weakness that has been identified was the hacking of ATM machines that negatively impacted consumers’ loyalty (7-Eleven, Inc., 2013). FBI has investigated the case and stated that a Citibank server that processes ATM withdrawals at 7-Eleven convenience stores had been breached. ATMs hackings at 7-Eleven stores reflects the company's weak application security system (7-Eleven, Inc., 2013). To take advantage of this weakness, G’s Stop N’ Go would have industry proven application security system that are...
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...ou’ve committed a dangerous act by printing Grady Booch’s article “The Irrelevance of Architecture” (May/June 2007). Way too many people already feel that architecture is irrelevant, and they’ll be tempted to read the misleading title, skip the article, and forever use Booch as proof of their erroneous beliefs about architecture. Additionally, I should admonish Booch for the invalid assumptions and errors of omission his article propounded on the way to reaching an otherwise good conclusion—namely, that architecture is quite relevant. A better conclusion would have been that a proper systems architecture is vital, desires of the agile cowboy coding hackers notwithstanding. One always has an architecture. It might have been done explicitly; otherwise, it’s ultimately defined by whatever the developers came up with. It all depends on which end of the dog is wagging the other. And this is not some Big-Endian vs. Little-Endian religious dispute (see Danny Cohen’s article “On Holy Wars and a Plea for Peace” in the October 1981 issue of Computer). When it comes to dogs, the tail should be the thing wagged, just as a design should be dictated by an architecture. And architecture is relevant to the end users. Without starting with a proper systems architecture, the end result won’t serve users well. They might not care about the implementation details, but they do care that the interface and functionality suit their needs when delivered. Although Booch observes the generic relationship...
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...Technology & Information Management Individual Assignment Technology & Information Management Individual Assignment Introduction Furntown is in the business of furniture manufacturing and sales. The organisation is currently considering implementing a mobile application for customers. With this new software application problem comes the question on whether to build or buy. The acquisition decision is a difficult one due to many competing interests and the different factors that affect the decision. This report aims to highlight the differences between the build and buy decision by providing an outline of the advantages and disadvantages which are inherent of each and finally deliver a recommendation for the course of action that will be best for Furntown. The organization choosing the build or buy criteria would make such a choice depending on the size of the business, the complexity of its structure, the demands of its service and how its rendered. Applications differ in use according to how they are built to suit the organizations catered for. Small organizations usually use standardized commercially built software as they work efficiently for their model whereas bigger and more developed ones need specific software uniquely made for them to cater for the complex and more demanding models they serve. A budget of any organization also forms a fundamental basis from which this choice can be made. Buying an Application from commercial vendors is more cost effective...
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...all ages, everywhere." | 2 | Pepsi | "We have absolute clarity about what we do ‘WE SELL HIGH QUALITY FOOD AND BEVERAGE PRODUCTS.’ Our success will ensure: customers will build their business, employees build their futures, and shareholders build their wealth." | 3 | Google | "To make the world's information universally accessible and useful" | 4 | Amazon | "To build a place where people can come to find and discover anything they might want to buy online" | 5 | Virgin Atlantic | "Safety, security and consistent delivery of the basics are the foundation of everything we do." | 6 | Sony | "To experience the joy of advancing and applying technology for the benefit of the public." | 7 | Ford | "We are a global family with a proud heritage passionately committed to providing personal mobility for people around the world." | 8 | Toys 'R' Us | "Our Goal is to be the Worldwide Authority on Kids, Families and Fun." | 9 | eBay | "eBay's mission is to provide a global trading platform where practically anyone can trade practically anything." | 10 | Health Net | "To help people be healthy, secure and comfortable." | Toyota, Amazon: Amazon’s vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online. (They list this as their mission as a combination mission/vision on their site). Apple: Apple is committed to bringing the best personal computing experience to students...
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...Building your Own Computer It is increasingly popular to build your own computer. In most cases, it saves money, and it guarantees you get what you want. It also assures you avoid proprietary designs many companies use to keep you coming to them for new parts. Best of all, having built the system yourself, you become very familiar with that system and with computers in general. People from all walks of life today build their own PCs. Executives, engineers, students, housewives, they all do it today. But, at the same time, pre-built PCs have come down in price quite a bit. Today, one is left to wonder whether it is best to build a PC yourself or to simply buy one off the shelf. I’ll address that here. If you are a real PC enthusiast, this question may be a non-issue. The answer may be as obvious as the color of the sky. This is predictable, of course. When one builds their own PC, they are able to not only understand their PC better because they built it, but they are able to choose each component that goes into their PC. There is really something to be said for choosing your own components, and I’ll go into that further below. There is also a certain sense of satisfaction with having built a PC. One spends a few hours (or less for those more familiar with the process) to put the thing together. Then comes the moment of truth when one hits the power switch for the first time. If it works on the first try, its beer time! But, besides the joy of it, is it worth it? Is it...
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... Introduction Best Buy is one of America’s most recognized stores, but may be the last in a dying breed of brick and mortar electronic retailers. Technology is the product which Best Buy built its products on (smart phones, tablets, laptops, computers, navigation systems, automobile sound systems, large screen televisions, wireless connections), but may also be one of the reasons the company is restructuring. “Best Buy Co., Inc. today confirmed that it has, as part of its Renew Blue transformation efforts, eliminated approximately $150 million in costs, including an approximate 400 person reduction in employee headcount at its headquarters” (VonWalter, 2013). One measure of the restructuring effort is to research the Best Buy client base to determine what is working well, and what could be improved upon. Research Problem and Purpose The purpose of this paper is not to answer the best practices for a Best Buy restructure, but to facilitate an approach to understating a demographic of Best Buys’ customer base.. The portable communications industry (laptops, tablets, smart phones) infiltrated business communities and societies around the globe in the 1990s. The technological advances associated with these devices have affected almost every aspect of daily life; social media, news media, entertainment, war, photography, personal communication, and business communication. The purpose of this paper is to understand how Best Buy can gain a competitive edge...
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...Proposal Document Project Proposal This is the project proposal from Team EMC to Best Buy Bonsai for Website Project. Requirements from Best Buy Bonsai: The project proposal is based upon the requirements provided by Best Buy Bonsai as follows: Create an online website that provides online ordering and payment option, Online inventory list with photos and price Contact information and store locations listed Proposal from Team EMC Team EMC proposes to provide a website to Best Buy Bonsai by providing the following: Creating a public facing website for the company that allows online view of inventory and purchasing of products and payment option through PayPal. Provide Contact information and location of physical Stores Option for company to pay for online advertising of website Design Methodology: Team EMC will provide an Agile approach to the project with weekly iterations for Best Buy Bonsai to review each phase of the build out of the product for approval. Website Overview and Layout The URL to the website will be: http://www.bestbuybonsai.com/Index.html The website will show the following links: Home Page Link : http://www.bestbuybonsai.com/index.html The home page has links to Inventory, About Us, Payment Center and Contact us link The home page will show the name of the company Best Buy Bonsai, main phone number for the business and a Welcome message.est Buy Bonsai © 20 | 2007. Let us help you Inventory Link : http://www.bestbuybonsai.com/Products...
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...than rents the complementary assets needed to commercialize, then it is in a position to capture spillover benefits stemming from increased de- mand for the complementary assets caused by the innovation. Indeed, an innovator might be in the position, at least before its innovation is announced, to buy up capacity in the complementary assets, possibly to its great subsequent advantage. If futures markets exist, simply taking forward positions in the complementary assets may suffice to capture much of the spillovers. Even after the innovation is announced, the innovator might still be able to build or buy complementary capacities at competitive prices if he innovation has iron clad legal protection (i.e. if the innovation is in a tight appropriability regime). However, if the innovation is not tightly protected and once "out" is easy to imitate, then securing control of complementary capacities is likely to be the key success factor, particularly if those capaci- ties are in fixed supply - so called "bottlenecks." Distribution and specialized manufacturing com- petences often become bottlenecks. As a practical matter, however, an innovator may not have the time to acquire or build the complementary assets that ideally it would like to control. This is particularly true when imitation is easy, so that timing becomes critical. Additionally, the innovator may simply not have the financial resources to proceed. The implications of timing and cash constraints are summarized in fig...
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...1 Compensation practice Erica Nuahn Strayer University Profession: Janine Przybyl Bus 409 Best Buy is the world’s largest consumer electronics retailer, offering advice, service and convenience – all at competitive prices – to the consumers who visit its websites and stores more than 1.5 billion times each year. In the United States, more than 70 percent of Americans are within 15 minutes of a Best Buy store and BestBuy.com is among the largest ecommerce retailers in the United States. Additionally, the company operates businesses in Canada, China and Mexico. Altogether, Best Buy employs more than 140,000 people and earns annual revenues of more than $40 billion. By aligning with Accenture, Best Buy can leverage the provider’s global expertise in building and providing HR services and systems, allowing it to achieve a flexible, scalable delivery model much faster than if it were to build these capabilities in house. In addition to speed to capability, the partnership simplifies the complex challenge of transforming HR, enabling Best Buy’s HR professionals to focus on leading the human-capital component of its transformation. The payroll and bonus administration functions that previously were the province of finance have moved over to the new HR team at Accenture. “Aligning these functions under HR allows for a single point of contact for Best Buy employees, thus improving the overall employee experience,” Walden explains. “It also enables employees in these...
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