Comparing two business plans Lab Report Example | Topics and Well Written Essays - 1500 words

Comparing two business plans - Lab Report Example It also reflects the key elements considered by both the businesses for achieving competitive advantage in the market. The study concludes with an insight into the recommendations provided to both the businesses for overcoming the weaknesses and challenges and maintaining their position in the market. Table of Contents Table of Contents 3 Introduction 4 Analysis 4 Findings 7 Conclusion and Recommendations 9 References 10 Introduction The project deals with the comparison of two business plans. This would help in analysing of their strategic short term and long term strategies followed by their financial accounting control methods. This would further help in finding out the strengths and weaknesses related to the strategic business plans of the two chosen companies and providing suggestions based on the findings. The two businesses that have been chosen for comparing their business plans are Daily perc cafe and Watertower Cafe. Daily Perc Cafe is a beverage retailer. It is a breakfast and lunch cafe providing outdoor concept to the customers for relaxing and having fun (Rope-een, 2011). It implements the system which is very new to the beverage as well as food service industry for providing cold and hot beverages in a time efficient and convenient manner. The setting of this cafe has upscale scenery along with calm soothing tone for offering comfort (Foursquare, 2013a). The cafe provides the customers with a touch of home. The Daily Perc provides its customers with fine cold and hot beverages specially blended teas, coffees and various other custom drinks. The Watertower Cafe is full service cafe/restaurant situated in Sweet Auburn District in Atlanta (Foursquare, 2013b). The restaurant mainly provides moderately priced food which is highly influenced by the French and African traditions. The restaurant specially features a coffee house having desert bars, areas for live performances, magazines etc (Yelp, 2013). Analysis Strategic planning helps in achievement o f competitive advantage in the business operations by the management of all the operational, financial and marketing activities (May, 2010; Lientz, 2010; Hall, 2004). Through this planning process it becomes easier to overcome the challenges and achieve success in the market (Cassidy, 2005). The Daily Perc The Daily Perc mainly focuses on two market segments: a) the daily commuter and b) the captive consumer. The daily commuters are those who are travelling from/to work, out for shopping or drive, offering products and services etc. The captive consumers are those who remain in restricted environment which does not allow favourable departure or return when searching for refreshment because the refreshment is considered an integral element of the environment (Palo Alto Software, 2012). The cafe penetrates in both these consumer segments by means of deployment of the ‘drive thru facilities’ or ‘mobile cafes’ in most accessible locations. The cafe provides pre mium coffees in very little time than needed in order to satisfy its customers. The cafe considers four main points as the drivers which would help in the achievement of success. They are The best locations to attract the customers. Quality products comprising of fresh coffee beans, premium serving containers, clean equipments, consistent flavour etc. Friendly servers Finest Reputation created by means of word-of-mouth advertisements, various public relation and other