Mgt/230 Week 3
Concluding Case- Custom Coffee & Chocolate
MGT/230
January 28, 2013
Concluding Case- Custom Coffee & Chocolate Billions of people across the globe choose to have a cup of coffee each morning to start the day or as a morning work break but coffee has become more than just a drink. Coffee has become an ingrained part of various cultures and coffee shops can be found in most every city around the world. It is little wonder that coffee ranks among the world’s largest commodity markets second only to oil ("Dangerous Grounds: About the Show", 2013). Given diversity and competition in the market, the small startup company of Custom Coffee & Chocolate will require a clear mission statement, detailed business analysis, and tactical plans that will help it to increase market share within the Seattle community. A mission statement describes a company’s fundamental purpose and how that company is unique within its product and services offerings. In writing of the company’s mission, each word must be carefully selected for consistency and there must be a commitment from the stakeholders to focus resources in the accomplishment of this mission (Ireland & Hitt, 1992). Bonnie Brewer and Stacy Kim have passed a milestone having developed regular customers within the five months of opening the first coffee house. As a statement for moving forward, “Custom Coffee & Chocolate’s mission into the community is to provide the highest quality, socially ethical coffee and chocolates while serving to keep the Seattle community connected and invigorated.” The next step towards developing a tactical business plan is to identify internal strengths and weaknesses as well as external opportunities and threats. A common challenge among small startup companies is finance. Within the first six months, Brewer and Kim have exhausted both their savings and initial small-business loan placing the company in a precarious position. For further development of
MGT/230
January 28, 2013
Concluding Case- Custom Coffee & Chocolate Billions of people across the globe choose to have a cup of coffee each morning to start the day or as a morning work break but coffee has become more than just a drink. Coffee has become an ingrained part of various cultures and coffee shops can be found in most every city around the world. It is little wonder that coffee ranks among the world’s largest commodity markets second only to oil ("Dangerous Grounds: About the Show", 2013). Given diversity and competition in the market, the small startup company of Custom Coffee & Chocolate will require a clear mission statement, detailed business analysis, and tactical plans that will help it to increase market share within the Seattle community. A mission statement describes a company’s fundamental purpose and how that company is unique within its product and services offerings. In writing of the company’s mission, each word must be carefully selected for consistency and there must be a commitment from the stakeholders to focus resources in the accomplishment of this mission (Ireland & Hitt, 1992). Bonnie Brewer and Stacy Kim have passed a milestone having developed regular customers within the five months of opening the first coffee house. As a statement for moving forward, “Custom Coffee & Chocolate’s mission into the community is to provide the highest quality, socially ethical coffee and chocolates while serving to keep the Seattle community connected and invigorated.” The next step towards developing a tactical business plan is to identify internal strengths and weaknesses as well as external opportunities and threats. A common challenge among small startup companies is finance. Within the first six months, Brewer and Kim have exhausted both their savings and initial small-business loan placing the company in a precarious position. For further development of
References: Bateman, T. (2011). Management: Leading and Collaborating in a Competitive World (9th ed.). Retrieved from The University of Phoenix eBook Collection database. Dangerous Grounds: About the Show. (2013). Retrieved from http://www.travelchannel.com/tv-shows/dangerous-grounds/articles/dangerous-grounds Grant, L. (2005). Capitalizing on coffee. Smart Business Los Angeles, 1(5), 8-8. Retrieved from http://search.proquest.com/docview/203175672?accountid=35812 Ireland, D., & Hitt, M. A. (1992). Mission statements: Importance, challenge.. Business Horizons, 35(3), 34. 'McDreamy ' saves seattle coffee chain. (2013, Jan 07). Telegraph-Journal. Retrieved from http://search.proquest.com/docview/1266700162?accountid=35812