Name: Mir Sumsul Bari Mehadi ID: 1110863030 Midterm: 2 Section: 17 Faculty: Dilara Afroz Khan(DAK)

HEREI am going to open an ice cream shop at NSU campus and as to run the business I need to know the answer of these questions: a) What would my vision and mission statement would be? b) What would be long term and short term goals and objectives? c) Performing external analysis. d) Perform internal analysis.

CAF CREAM

What would my vision and mission statement be?

Mission Statement:
Mission Statement means the contemporary game plan for the business. And to define my mission statement I must know the answer of these questions1. Who I am as a business? Answer: As a business it is an ice-cream shop CAFE CREAM by name.

2. What I do as a business? Answer: We provide quality ice cream to the NSU people.

3. How I do it? Answer: We collect different flavored ice cream from different local ice cream suppliers and sell it at our ice shop in CAF CREAM.

4. Why do I do it? Answer: We want to make our profit by ensuring the best quality ice cream in comparatively reasonable price. So now my mission statement is-

CAF CREAM is an ice cream shop that provides quality ice cream to NSU people by having different flavored ice cream from different suppliers. It sells ice cream in NSU caf and by that CAF CREAM is earning profit as well as serving the best quality ice cream in comparatively reasonable price.

Vision Statement:
Vision statement means where I want to see myself in future. A vision statement should be more than 5 years. As for CAF CREAM our vision statement is To be the most popular and best-selling shop in NSU campus.

b) What would be my long-term and short-term goals and objectives?

Answer: The third of five tasks is defining long-term and short-term goals and objectives.

Goals:Goals are ultimate target for a SBU. Where it heads to. Goals can be both
short-term and long-term. As the CEO of CAF CREAM I also have short-term and long-term goals. This areLong Term Goals: y Get highest efficiency as SBU. y Turning out as a prominent brand. y Most popular SBU in NSU campus. Short Term Goals: y Creating buzz among students. y Extend target market. y Relationship development.

Objectives:
Objectives mean the way of achieving goals. Objectives are quantifiable. CAF CREAM also has objectives to accomplish the both long-term and short-term goals. Objectives of CAF CREAMy To get the highest efficiency as a SBU we will use scientific management. y For being the most popular SBU in NSU campus we will Create work opportunity for students. 5% discount for students. Provide gifts with amount purchasing. Create customer responsive behavior.

y For extending the target market we will- Provide ice cream of different rate. - Discount and cheap package for different occasion.

External Analysis:

The fourth of five tasks of strategic management is external analysis. External analysis means the analysis of outer environment of SBU.

Top Level Managers

External Environment

Mid Level Managers First line Managers

External Environment

Diagram: External Environment of a SBU

To do external analysis for my SBU I need to go through these-

PEST:
P- Political Environment. E- Economical Environment. S- Social Environment. T- Technological Environment.

With PEST I will do SWOT analysis. SWOT analysis of PEST means defining SBUs strength, weakness, opportunity and threat on the political, economic, social and technological basis.. Below SWOT analysis on my PEST is given-

Political

Economical

Social

Technological

Strength

Political condition is strength for Caf Cream (As NSU is a non-political organization) -

The economic condition of NSU is very balanced as most students and stuffs are very solvent so it is the strength for my SBU.

Social Condition of NSU is good so it is strength for SBU

Weakness

Technologically the environment for a SBU is not that much contemporary. In NSU campus I hardly able to install different contemporary machines for the lacking of adequate space. So it is a weakness for my SBU

Opportunity

Handsome economic condition is an opportunity for my SBU. NSU has internal politics and sometimes it is tough to go with the adversity of nasty internal politics. So it can also be counted as threat.

Social Condition is also an opportunity

Threat

Technologically inadvacement detects a threat for my SBU

Diagram: SWOT analysis of PEST

Five forces:
The SWOT analysis of five forces is important in my SBU to perform the external analysis. These five forces are1. 2. 3. 4. 5. Entry Barriers. Bargaining power of buyer. Bargaining power of supplier. Competition. Substitute.

Below SWOT analysis of five forces are givenEntry Barrier Strength. Bargaining power of buyer Bargaining power of supplier
There are lots of ice cream suppliers in market. So it is strength. Entry barrier is a weakness because of the high rent and competitive market. Here buyer has vast power to bargain as they have high availability options. So it is a weakness for me As there is a shop which has a corner for a popular branded ice cream, it is a weakness for my CAF CREAM It is an opportunity to reduce cost. As entry is not easy, it is a threat. Vast bargaining power of buyer is a threat for my SBU. Competition is Substitutes are also a threat for threat of my my SBU products existence. There are other products like lassie or cold drinks in other stores which are substitutes. So it is a weakness.

Competition

Substitute

Weakness.

Opportunity. Threat

Diagram: SWOT analysis of five forces

Here is this SWOT analysis I tried to figure out my strength, weakness, opportunity and threat on the basis of five forces.

Life Cycle:
Life cycle analysis is an important part of external analysis. It starts with Embryonic/Introduction and end in Decline period. Below the stapes of life cycle are giveny y y y y Embryonic/ introduction. Growth. Shakeout. Maturity. Decline.

SWOT analysis of Life cycle-

Embryonic/ Growth Introduction

Strength
In the growth level, it will be my strength as sales will increase rapidly

Shakeout

Maturity

Decline

Maturity level will be strength for me because in this level everyone will know about my product and it will give both True Friend and profit for my SBU. Decline level is a weakness.

Weakness In introduction
level I will have

Opportu nity

weakness in different sectors as a new comer. At the introduction of my ice cream shop, it will be an opportunity for me to take the challenge and make a monopoly as there is no ice cream shop inside NSU campus.

As sales will increase rapidly, it will be an opportunity for me to capture the market share.

Threat

As in Shakeout level the sales will get steady and it may come into a threat for my SBU if I cant maintain the quality.

In decline level it will be a threat to me.

Strategic Group:
Strategic groups mean the same industry that follow similar strategy. I have a shop like this in NSU. Below the SWOT of strategic group is given:
Strategic Group

Strength Weakness Opportunity

Threat

I am newer than my strategic group in the market. So it will be a weakness for me. As the other shop has only a corner for ice cream, I will have the opportunity to Capture the target market and make a monopoly. My strategic group sales a very popular brand ice cream so it is also a threat for CAF CREAM

Internal Analysis
As a CEO of a SBU I must do internal analysis and to do internal analysis, I must analyze competitive advantage with SWOT.

Internal Environment

Competitive Advantage: Competitive advantage means the positive aspect of my SBU than my competitors. Here in the campus I have
I have competitive advantage to my competitors. They also have some to me. Below the SWOT of my competitive advantage is given-

Efficiency Strength
-

Quality
Quality is strength as I am very much sensitive about quality.

Innovation
Innovation is strength to me as I introduce the first ice cream shop in the campus and I would also try to introduce innovative ice cream flavors in a regular interval.

Customer satisfaction Customer satisfaction is strength to me as my SBUs has customer responsive culture.

Weakness

Efficiency is a weakness to me as I am new in this business. It is an opportunity for me as I provide the best quality ice cream in NSU campus. Being innovative gives me opportunity to get competitive advantage As I have competitive advantage in customer satisfaction, it works as my opportunity to reach my goal.

Opportunity

Threat

My competitor gets advantage in terms of efficiency. So it is my threat.

Image: Competitive Advantage

After doing the SWOT analysis it seems that I will get Innovation in the introduction level as competitive advantage and then I will get Customer satisfaction and Quality as my advantage than competitors later.

Performance analysis
By following these I will do personal analysis after a period of time: y y y y y y Financial Statement Income Statement. Balance Sheet. Statement of cash flow. Retained earnings Ration analysis.

By following all these report I will analyze my performance and it will help me to be more efficient in doing business.