Write a three to five (3-5) page paper, in which you:
- Create your revised NAB company name and explain its significance.
- Develop your revised company?s Mission Statement and provide a rationale for its components.
- Hints: Use the Statement of Mission template on pp. 72-73 on the course textbook: Successful Business Plan to aid your development. Click here for help accessing a specific page number in your eBook.
- Extracting appropriate information from the NAB company portfolio, where applicable. You should fill in other required items in the template using your personal preferences.
- Hints: Research and outline beverage industry trends. Consider the size and growth rate of the industry overall and the specific beverage type you have chosen. Use the worksheet in the course text (p. 88 | Past and Future Growth of Your Industry) to help you project the future growth rate. Consider the use of industry associations and search engines to find reliable, recent data.
- Hints: For example, will you sell your beverage in grocery stores, restaurants, or sports venues? If so, describe the types of resellers and distributors who will sell to resellers and fulfill their orders. If you are attempting to sell direct-to-consumers, such as online via a monthly subscription, how will you manage warehousing / fulfillment / shipping?
- Hints: You may refer to the types of risk listed in the course text (pp. 148?149) as well as any risks not listed in the text. Regulation weighs more heavily on beverage and food businesses than many other types of companies, so be certain to consider any regulatory risks your type of beverage faces. For example, what kind of regulation and / or risks are you likely to face if you make health claims about your beverage?
- Hints: What are your company?s likely strengths? Have you chosen a beverage segment that is growing and lacks an entrenched competitor? Are you in a niche market that has great potential? What are the strengths that you and other team members bring to your company? Do you or other team members have previous experience in the food and beverage industry?
- Hints: What are your company?s likely weaknesses? Is the competition in your industry segment entrenched? Is your own management team inexperienced? Will it be challenging to actually produce your product and maintain quality?
- Hints: What are your company?s opportunities? Does your segment have more demand than supply? Have larger corporations stopped serving smaller or niche markets that you could enter? Is a new market emerging because of demographics, immigration, changing tastes?
- Hints: What are your company?s threats? Is there a clear market leader that will be hard and expensive to displace? Are downward-pricing pressures in the segment making profit margins slim? Are there little or no barriers-to-entry for new competitors; if you have a novel idea that succeeds, can the competition easily enter your market? If you have a global aspect to your company, do factors such as currency fluctuations, political instability, offshoring or outsourcing pose threats?
The name of My NAB Corporation is Wine De Asti. The significance of the drink is for wine
darlings who appreciate the essence of various wines yet didn't really enjoy mixed refreshments.
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