Business Finance Homework Help

Part 1 

There  are two parts to this assignment  first for this assignment, review the business plan and submit a one page report on whether you can ensure the results will provide validity and reliability. 

Part 2 

For part 2 Modify the  business plan  and make sure it provides validity and reliability. Support your
response citing sources on validity and reliability.It should be 5 pages 12 font times roman,citations, and references.

Please do not copy my business plan modify it in your own words.

I. 
Introduction

Our world today is
holding numerous events that range from weddings, parties to graduations
ceremonies as opposed to past years. In every country there is a party or an
event being held at a particular area. Most of these parties demand catering
services as people will require services in terms of foods and drinks to
celebrate the event. As such these celebrations are creating business
opportunities for caterers to offer services to those holding the parties.
Catering Capers has seen this as a business opportunity to offer its services
to those who wish to hold these celebrations at a relatively affordable cost.

a)  Project
Description

Catering Capers plans
to provide catering services to any individual or organization that wish to
hold events or celebration parties. Catering Capers project on catering
services is set to be completed by the end of the year 2016 where majority of
the celebration events will be held. The project is also set to accomplish
three key elements that are; offering catering service at an affordable cost,
reducing the burden of cooking and preparing for food and beverages to
customers and lastly increasing the availability of catering services.

Catering services are
more demanded in the world since parties have become part of the society
aspects. This is because a simple occasion is marked by having a party between
friends and family members. Moreover no party can be complete without the
presence of food and drinks to feed those present. The project therefore by
Catering Capers to open a new business is a fruitful project since more of its
services will be demanded by customers planning different events.

b)  Objectives

The project plan wishes to accomplish a number of
key objectives namely;

1.  Availability
of catering services

2.  Provision
of quality and reliable catering services

3.  Customer
satisfaction

4.  Provision
of catering services at an affordable cost

5.  Provision
of services to all customers regardless of the size party or cultural
differences

c)  Mission

Catering Capers plans
to operate under the mission of making money from the number of parties it
serves to providing the community or customers with a minimal cost rate of the
catering services.

II. 
Expected Outcomes

The main purpose of
starting the catering business project is not to make profits but rather to
offering as much catering services as possible. Therefore the Capers company plans
to attract all customers both capable of holding large events and parties and
those hosting small events. As such the project main goal is to be able to
attract as many customers as possible who seek catering services.

a)  Project
Benefits

Majority of the
catering clients often rely on companies that they are aware of and have
knowledge of their services. It is difficult to convince clients of accepting
services from a new business in the industry. However, a project should not be
foregone because it is new and in a competitive environment only leads to
failure from the start. There are always alternatives that one can employ as
the business project is being implemented.

The catering services
is a duty that is demanded most of the times as people hold events a lot on a
daily basis. Therefore it is easier to accomplish the goal of attracting
customers within a shorter period of time. The project for one does not have to
wait until its completion but can be implemented along the way. Capers Company
will have to start offering catering services to small parties and events so as
to establish a good customer relation. Moreover catering services only require
good skills in cooking and serving. In terms of catering equipment, they can be
hired form companies that offer equipment rental services.

The project is more
likely to benefit from the increasing demand of catering services in the world
as well as the existence of rental companies that can make equipment readily
available. Catering Capers will only require offering its cooking and serving
services as it plans on attaining equipment required by the end of the project.
Additionally there is a ready market willing to try new catering services and
once the services is advertised on social media and other advertising networks
the people become aware of the catering Capers.

The project plan of
Catering Capers will not only benefit from the available market and rental
companies alone but also from the growing technology. This is because through
this technology the project will have knowledge of the market and industry
performance. Moreover Capers will use the technology to advertise its services.
In the end the project expects to gain the interest of clients seeking catering
services, work with rental companies and have a market share in catering
services.

b)  Organization
Benefit

Starting a catering
business is not easy at first as clients rely on existing organizations that
have been in business for long. However once the new business has creating a
good brand image to clients it becomes an ideal business in the long run. The
organization will most likely benefit from having more clients seeking its
services especially when it has efficient cooks who prepare good food. Moreover
by providing satisfying foods to clients will benefit the organization from
deciding to implement the catering project.

Secondly after
establishing a catering business Capers will be able to expand its social
circle to broader areas. The organization will have the opportunity to offer
its catering services in bigger events with people of great importance. It will
also have opportunity to open up more catering branches across the globe.
Therefore Catering Capers will be able to improve its catering standards and
thus earn more profits from its services. The organization catering standards
will benefit it by creating opportunities for it to be given more jobs in
serving in large parties as well as in smaller events.

III. 
Business Plan Success

a)  Key
to Success

Any business plan
should be set under an optimistic schedule that the organization believes it
can accomplish. However the schedule should not be overly optimistic in a way
that it exceeds the available skills or resources of the organization. Catering
Capers should thus set up a business plan that is aligned to its current
standards. The first objectives should be to have possible project deliverables
that can be accomplished by the end of the entire project (Rad and Anantatmula,
2010). Secondly the required resources and skills to accomplish the project
should be aligned to the available resources and skills.

In addition
communication is also another basic requirement in the success of the business
plan. It allows for all stakeholders to be aware of the business plan, its
benefits and failures so as to ensure that they are all in support of the plan.
This also ensures that the business plan receives support from all stakeholders
through implementation. Lastly the team managing the entire project should
constantly assess the progress of the plan to determine any conflicting ideas
with the available resources and skills of the available team (Ketchledge,
2015). In the end communication, support and available resources as well as
optimistic schedules ensure that the success of the business plan is intact.

b)  Measures
of the Business Plan Success

An external auditor
will be sought out to measure the effectiveness of the plan set to deliver the
project deliverables. Moreover this auditor will be consulted in terms of
whether the available resources and skills will be adequate to accomplish the
set objectives.

IV. 
Business Description

a)  Company
Vision

Catering Capers is a
new business that plans on proving catering services in big and small events
that encompass weddings, birthday and holiday parties as well as funerals. The
aim of the catering company is to ensure that services offered to clients are
affordable and of high standards. It also wishes to provide the best party
experience by serving clients with tasty food and drinks.

b)  Available
Skills

Catering Capers wishes
to offer job opportunities to graduates and the poor people and as such most of
the employees will comprise of this category of people. However the company
will require providing training to these people to prepare them for the
services required from them. Therefore part of the employees for the job will
be graduates and poor individuals. The graduates are expected to account for
the profession skills on catering that they have learnt from school. Therefore
the company already has a reliable team of employee s that can use creative
skills and academic efficiency to help implement the project.

Secondly the poor
category of employees is already aware of what their communities expect and how
they prefer to be served. This group offers knowledge to the group of the less
fortunate communities on how to provide catering services to them at the lowest
rates. This ensures that the poor communities do not feel left out or
intimidated by being offered services of high cost like those in high class
society.

c)  Personal
Incentives

Catering Capers has a
manager and a few members of the management team that have worked in catering
industry for more than 5 years. This will provide training to the graduates and
poor employees as well as educate the entire team on what is expected in the
catering industry. Therefore the company has reliable team with the required
skills to manage the project as well as the company services.

d)  Industry
Analysis

Strengths

Catering Capers will be
an organization that specializes in catering services and thus it will be able
to deliver the best services to its clients without disruptions from other
responsibilities.

Weaknesses

The main weaknesses at
Capers are the available labor which is from graduates and employees from the
poor communities. They lack proper experience in catering which will require
training to increase their efficiency.

Opportunities

The catering business
is one a profitable one as more events continue to be held when people have to
celebrate different occasions. Moreover catering is readily sought out in every
corner of the globe such as in schools, sport centers, houses and in corporate
institutions. Therefore the target market for catering is abundant and thus
creates the opportunity for a business to grow (Kumar, 2010).

Threats

In the catering
industry there are more catering firms that have been in business for a long
period of time. These companies have more experience and knowledge of the
market preferences, expectations and demands (Peterson, 2009). These
competitive catering firms are the main threat to Catering Capers as a new
business.

V. 
Conclusion

The choice of a
catering business is influenced by the availability of a reliable target
market. The market of catering is increasingly growing by the day as more
events are being held by different organizations. Schools hold graduation parties,
closing ceremonies as well as reward events all of which demand catering
services. Organizations also commemorate various achievements by holding
parties, weddings also demand for catering services thus creating more
opportunities for caterers. Additionally the profit that a company is bound to
enjoy from catering is relatively large and promising hence the reason for
choosing to plan for a catering business (Shiring, 2014). Lastly the catering
company as it plans to also create job opportunities for poor people and
graduates makes it more promising to start a catering service company since it
will offer more jobs to these people as opposed to other choices.