Business plan.

Consider the following scenario:
You have been working as an Assistant Manager in Mimi and Jasmine’s (M&J)
warehouse. M&J is an innovative cosmetics company that was started several years
ago by two women. Because fulfilling small orders is not what you envision for your
career, you have begun to study business. You have recently learned that the owners of
M&J are interested in a selling the business. You are interested in buying the company,
so based on the advice of a small business consultant at the local Chamber of
Commerce, you decided to put together a business plan to secure a loan.
Complete the following:
1) M&J is a somewhat informal organization in which a number of friends & family
members pitch in to do whatever it takes to make the business successful. Overall, this
has worked well, but you know that sometimes there is some serious miscommunication
resulting from the lack of clear authority. The lines between the marketing, shipping,
finance, main office, and sales departments are fuzzy at best. There are people working
in multiple departments who have no clear accountability to any one manager. In your
response:
-First, examine how businesses can be organized and structured in general.
-Next, provide a specific plan for M&J that reflects your understanding of management
and the most appropriate structure for M&J as a small business with 23 employees.
2) M&J does not have a formal management approach to managing the employees.
Some low-level employees are paid more than higher-level employees because they
have been with the company longer; others are given extra time off without any
explanation. Employees who are not managers often direct other employees but won’t
deal with conflicts because they say it isn’t their job. Some employees are clearly not
motivated to do what needs to be done to make M&J as successful as it could be. In
you response:
-First, analyze the various functions of and approaches to management in general.
-Next, provide recommendations on how M&J could formalize the management
structure to better manage and motive its employees.
3) M&J has been successful so far because of word-of-mouth advertising. This method
has allowed the company to capture a substantial share of the local market of 18 to 28
year old women, but the company is having trouble expanding into new markets.
-In your response, first analyze the general market processes, forces, and issues face
by a business enterprise.
-Next, apply these principles to developing a marketing strategy for M&J, which is a
regional company making $2-3M in annual sales.The main objective is to increase both
the geographic and the demographic penetration of the company in an incremental way.
-Be sure to address the elements of marketing, market research, and consumer buying
behavior as they might apply to a small, growing business like M&J.
-In addition, develop general guidelines for product pricing and distribution, given your
target markets.
4) M&J was started by two entrepreneurs who had a passion for cosmetics and a dream
of making the best all-natural products available to their customers. Mimi & Jasmine did
not have a business plan when they started the company, and the company has grown
organically without a formal plan in place. Your task in this final section of the business
plan is to put together a summary of all the elements of a business plain and identify the
potential risks. In your response:
-First, provide an overview of your business plan, incorporating sound business
concepts, systems, and strategies you have learned in this course.
-Second, summarize all the components and steps you have proposed in previous
sections of your plan.
– identify the risks associated with these elements of your plan.
clearly define risk management & how you propose to implement this process
at M&J to protect the bank’s investment.
Write the report:
In 4 pages, provide answers to the scenarios presented above.

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