Hospitality and Tourism Management Essay Example for Free

Hospitality and Tourism Management Essay The K-12 program covers kindergarten and 12 years of basic education ( six years of primary education , four years of junior high school to provide sufficient time for mastery of concepts and skills, develop lifelong learners, and prepare graduates for tertiary education , middle-level skills development, employment ,and entrepreneurship. the enhanced basic education act of 2013 , or republic act no. 105333, was signed on may 15, 2013. K-12 is a helpful tool that can strengthen early childhood education, make the curriculum relevant to learners , ensuring integrated and seamless learning ,building proficiency through language , gearing up for future and most of all nurturing the holistically develop Filipino. Every graduate will be equipped with information, media and technology skills, learning and innovation skills, effective communication skills and life career skills. Program implementation in public schools is being done in phases starting SY 2012-2013. Grade 1 entrants in SY2012-2013 are first batch to fully undergo the program, and current 1st year Junior High School Students (or Grade 7) are the first to undergo the enhanced secondary education program. To facilitate the transition from the existing 10-year basic education to 12 years, DepEd is also implementing the SHS AND SHS modeling. .Each student in Senior High School can choose among three tracks: Academic; Technical-Vocational-Livelihood; and Sports and Arts. The Academic track includes three strands: Business, Accountancy, Management (BAM); Humanities, Education, Social Sciences (HESS); and Science, Technology, Engineering, Mathematics (STEM). Students undergo immersion, which may include earn-while-you-learn opportunities, to provide them relevant exposure and actual experience in their chosen track. The enhanced curriculum for grade 1 and grade 7 ( 1st Year Junior High School ) was rolled out SY 2012-2013 , and will be progressively introduced in other grade levels in succeeding school years. Grade 11 will be introduced in SY 2016-2017 AND GRADE 12 IN SY 2017-2018. The first batch of high school students to go through K to 12 will graduate in march 2018. DepEd has entered into an agreement with business organizations, local and foreign chambers of commerce, and industries to ensure that graduates of K to 12 will be considered for employment. There will be a matching of competency requirements and standards so that 12-year basic education graduates will have the necessary skills needed to join the workforce and to match the College Readiness Standards for further education and future employment. Entrepreneurship will also be fostered in the enhanced curriculum; ensuring graduates can venture into other opportunities beyond employment. After finishing Grade 10, a student can obtain Certificates of Competency (COC) or a National Certificate Level I (NC I). After finishing a Technical-Vocational-Livelihood track in Grade 12, a student may obtain a National Certificate Level II (NC II), provided he/she passes the competency-based assessment of the Technical Education and Skills Development Authority (TESDA). NC I and NC II improves employability of graduates in fields like Agriculture, Electronics, and Trade. Target Market 12-13 years old who supposed to graduate grade 6 this year but will be introduced to k-12 program. Grade 5 and 6 students Youth that belongs in the poor families with potential to be out of the school youth after their high school years. Schools Professors – lecturer SY 2011-12 SY 2012-13 SY 2013-14 SY 2014-15 SY 2015-16 SY 2016-17 SY 2017-18 GR 12 2 YEARS SENIOR GR 11 HIGH SCHOOL HS IV (15 yo) GR 10 4 YEARS JUNIOR HS IV (14 yo) GR 9 HIGH SCHOOL HS IV (13 yo) OLD CURRICULUM GR 8 HS IV (12 yo) NEW CURRICULUM GR 7 GR 6 (11 yo) GR 6 6 YEARS GR 5 (10 yo) GR 5 ELEMENTARY GR 4 (9 yo) GR 4 GR 3 (8 yo) GR 3 GR 2 (7 yo) OLD CURRICULUM GR 2 GR 1 (6 yo) NEW CURICULUM GR 1 KINDER (5 yo) KINDER Analysis of Case During the period of governance of Spain and the United States, education in the Philippines changed radically, mostly modeled on the system of education in the United States of the time. After gaining independence in 1946, the systems were no longer automatically applied in the Philippines, which have since moved in various directions of its own. Filipino children may enter preschool at the ages of three to four, starting from nursery, and kindergarten. At the ages of six to seven, children enter elementary school for six or seven (on selected schools) years. This is followed by the high school, for four years. Students may then sit for the College Entrance Examinations (CEE), after which they may enter tertiary schools for two to five years. The Philippine educational system pursues the achievement of excellent undergraduates in the elementary and secondary level. Implementation of UbD is one of the proposals that undertook in the country recently. At present, the Department of Education pronounces the addition of two more years in the basic education of students, which according to them will benefit not only the Filipino youth but all the Filipinos in the Philippines. This proposal is part of P-noys Educational Reform Program. The administration asserts that with the implementation of such program, the problem of unemployment in the country will be resolved. In as much as employment in the Philippines is concerned, the K12 education also responds to the fact that most countries in the world already have the same plan in their educational institutions. With this, the standards of these countries go a notch higher than what the country has, thus, creating an expansion in the global competency. What can be really said about this plan. The K-12 Basic Education Program aims to provide every Filipino child with the education s/he needs to compete in a global context. In May, President Benigno Aquino of the Philippines signed into law a basic education curriculum that will see a mandatory kindergarten year and two additional senior high school years added to what was a 10-year education curriculum to make basic education 12 years. The programmed has been adopted not only in schools in the Philippines, but also in Filipino schools abroad that follow the department’s curriculum. Gulf news reports: The goal of the new curriculum is to give Filipino students enough time to master skills and concepts so that they are ready for tertiary education when the time comes. Kindergarten was previously optional, and advocates of the K-12 programme argue that students who went to kindergarten are better prepared for primary education than those who did not. In addition, the K-12 programmed â€Å"provides for the use of the ‘mother tongue‘ language as the medium of instruction for students in the basic and lower years to facilitate and expedite learning. † This fabulous interactive map of all public schools in the country could be a useful tool in planning a recruitment strategy. It contains data on the school’s budget, enrolment statistics, education indicators, number of teaching personnel, furniture, textbooks, classrooms, plus the water and power supply of some 45,000 schools nationwide. 10 Point Education Agenda The move to the K-12 policy comes as part of the 10 Point Education Agenda which was set out by the current government administration. The K-12 Basic Education Program, universal kindergarten and instruction in mother-tongue languages are but three of the ten points Aquino’s administration want to implement in order to improve the overall quality of education in Filipino schools. The other seven points include: Establish the Madaris Education as a sub-system in the current education system; Make every child a reader by Grade 1; Improve science and mathematics; Expand government assistance to private education; Better textbooks; Build more schools in cooperation with local government units (LGUs); Re-introduce technical and vocational education in public high schools. Australia extends a helping hand Australia has long been a friend to the Philippines – donating time, funding and other resources, as well as working with the nation to develop and ensure quality. Last month, the country grantedPHP 8. 4 billion (nearly US $193 million) â€Å"to address basic education issues and support the implementation of the K-12 programme. † They have also funded a project to â€Å"enhance the skills of school officials in managing school processes and turn schools into learner-centred institutions that continually improve and build on its best practices. † In return, Australia is surely hoping Filipino schools and students will select Oz as their destination of choice for partnerships and study. As ICEF Monitor reported in February, the Philippines is one of the top ten student markets for Australian schools, colleges and universities. Building classrooms and adding teachers As mentioned, one of the ten points on the Education Agenda aims to address severe overcrowding in Philippine schools and the shortage of classrooms. In October of last year, the Department of Education signed an agreement â€Å"with two winning consortia which will undertake the construction of close to 10,000 classrooms. † The department’s Public Private Partnership for School Infrastructure Project (PSIP) will give schools the physical space they need and â€Å"provides the private sector the business opportunity to invest in the design, construction and maintenance of classrooms. † Philippine Education Secretary Armin A. Luistro has said he hopes that by doing so, the classrooms would stand as a testament to Filipino capability and efficiency. Progress is well underway; construction of more than 9,000 classrooms began in March of this year. An increase in student enrolment which caused the shortage of teachers was due to an increase in kindergarten students – a result of the new K-12 curriculum, as well as students who were formerly enrolled in private school transferring to public school because of tuition fee hikes. Student enrolment in 2012/3 stood at 20. 67 million: 1. 77 million kindergarten students, 13. 26 million elementary students, and 5. 64 million high school students. Increased focus on vocational education A final point on the 10 Point Education Agenda calls for a re-introduction of vocational and technical education in high schools, which has been designed to give Filipino students practical skills to gain employment after graduation – a key component in tackling the high youth unemployment rate in the Philippines. Some advocates are calling for the adoption of the German model of apprenticeship. The Manilla Bulletin reported: It is hoped that adopting the German model would help address the skills mismatch between Filipino graduates and the jobs available. Ramon del Rosario, chairman of the PBEd, has said now is the time to implement the apprenticeship system, because of the start of the K-12 curriculum: â€Å"It is a good time because of the development of the senior high school curriculum and that will have a track towards technical vocational education. † In May, the Technical Education and Skills Development Authority (TESDA) announced it had completed the K-12 technical vocational curriculum, and everything was in place for the start of the new school year. TESDA Secretary Joel Villanueva said, â€Å"Technical vocational education and training (TVET) will play a central role in the new education model that prepares students for tertiary education, middle-skills development, employment and entrepreneurship. † Courses include automotive servicing, horticulture, welding, consumer electronics, dressmaking/tailoring, carpentry, food processing and beauty care. The Philippines as a study destination Like many of its neighboring countries, the Philippines has its eye on becoming a study destination of choice for students from the Asia-Pacific region. In January of this year, the Philippine Bureau of Immigration reported that of the 203,753 foreigners in the country, 47,478 are studying in schools and universities across the country (which is 14% higher than the 41,443 foreigners who applied in 2011). The bulk of those (31,000) are under the age of 18 and studying at an elementary or high school or on a short-term (less than 1 year) course. The Bureau’s Commissioner Ricardo David Jr said: â€Å"Our country is fast emerging as a new educational hub in the Asia-Pacific region. More and more foreigners are coming here to study and it demonstrates recognition of the improved quality of our educational system. † He attributed the influx of foreign students to the quality of teaching and the use of English as the medium of instruction. Some of those students chose the Philippines to study English, and the government is hoping to boost ESL student numbers by making it easier for them to stay and learn. Last year, ICEF Monitor reported that for international students studying English in Australia, the Philippines had entered the competition as a destination option for the first time in 2011. Backing that up, an article in The PIE News quotes Ruth Tizon, Programmed Director of the Philippines ESL Tour Program, as saying, One thing is clear: the Philippines is looking ahead. With a growing population and a budding economy, demand for quality education is high. Many Filipino parents welcome the basic education reforms and are looking forward to more opportunities for their children in vocational and higher education. KEY ISSUE / GOALS The fact that the Philippines is the last country in the region to adopt a K-12basic educations system because it is not all about the trending basis but checking in accordance to the â€Å"reality†. During the assessment done by the prestigious organization Trends in International Mathematics and Science Study (TIMSS), they conclude that the problem about the present curriculum in squeezing 12 years of basic education into just 10 is that students are overloaded with subjects which resulted to poor quality of basic education as reflected in the low achievement scores of Filipino students. International tests results like 2003 TIMSS rank the Philippines 34th out of 38 countries in HS II Math and 43rd out of 46countries in HS II Science; for grade 4, the Philippines ranked 23rd out of 25 participating countries in both Math and Science. In 2008, even with only the science high schools participating in the Advanced Mathematics category, the Philippines were ranked lowest. This quality of education is reflected in the inadequate preparation of high school graduates for the world of work or entrepreneurship or higher education . It is not the question of teaching force because internationally we can say that the country is equipped of well trained educators capable enough for the learning needed by the students in our country. In fact, teachers in our country are highly demanded and most preferred to be hired and work in other country. But it is the matter of the educational system that we have which is designed to teach a 12-year curriculum, yet it is delivered in just 10 years. Though some criticizing it as a way only to realigned as to what is the trending educational system to must have, then why not follow it if it will sustain the development of the educational system of our country and there is nothing wrong with it. As to the question of the consequences that will be brought by the policy, surely there will be many of those and it’s a part of the changes. Better because the government exists to uplift the standard of education in the country and not just sitting down to their respective offices and waiting what will happen to the future of the students experiencing the current system. The policy exist with provisions of program to be administered forthe sustainability of it, thus to relate it with economic hindrances it should be another story that is worth to be reflected and should not serve as a hindrance for the development of one system in our country (education). To reach the development wherein the citizens are wanting, admitting the fact that it couldn’t be happening simultaneously is the first step. Goals of k-12 Individualized learning customized to each child’s needs. Award winning curriculum that engages young mind from k to 12 with a rich combination of online interactive and offline hands-on learning High school full-and-part time options to help students find their own path A new kind of powerful, personalized connection with teacher Preferred alternative with rationale in this study I find out that k to 12 will have a big effect in our country and even in our industry. It is a good program that can provide many outcomes and may help our country men to arise. But I also notice that some of whom I asked if k to 12 will be the answer for the people to be more comprehensive and productive in man powering many had answer maybe and no . then I got this thought that It can help but people in our country don’t want to open their minds in this changes. People in our country nowadays is always looking forward to fast solutions and money at this state it is because of the arising poverty and the low demand for man power and they are afraid that if they will not chase the time there will be no jobs available for them. They are afraid that k to 12 will affect every industry in hiring people so as our industry because if we can see jobs in the hospitality industry is widely offered than that of the other careers . so I came up with the rationale that we are good enough in the old curriculum. Why did I say this but I did not yet see the effect of it in the students it is because we are also pushing students to work early , why we will do that if we really want to push them to work early is to decreased the level of education just like the old one. Many parent will be sacrificing much about it, I guess the answer of today’s crisis is to help those student to bring their selves up in the maximum time possible. So that they can be as professionals in their early age . There is an urgent need to enhance the quality of basic education in our country as seen in the education outcomes of Filipino students and the comparative disadvantage of the Philippines with regard to other countries. The following data would support this explanation: At present, the Philippines is the only country in Asia and among the three remaining countries in the world that uses a 10-year basic education cycle. According to a presentation made by the South East Asian Ministers of Education Organization (SEAMEO-INNOTECH) on Additional Years in Philippine Basic Education (2010), the comparative data on duration of Basic and Pre-University Education in Asia shows that the Philippines allots 10 years not just for the basic education cycle but also for the pre-university education while all the other countries have either 11 or 12 years in their basic education cycle. Achievement scores highlight our students’ poor performance in national examinations. The National Achievement Test (NAT) results for grade 6 in SY 2009-2010 showed only a 69. 21% passing rate while the NAT results for high school is at a low 46. 38%. Moreover, international tests results in 2003 Trends in International Mathematics and Science study (TIMSS) show that the Philippines ranked 34th out of 38 countries in HS Math and 43rd out of 46 countries in HS II Science. Moreover, the Philippines ranked the lowest in 2008 even with only the science high schools joining the Advanced Mathematics category. Assumptions The K to 12 Program covers Kindergarten and 12 years of basic education (six years of primary education, four years of Junior High School, and two years of Senior High School [SHS]) to provide sufficient time for mastery of concepts and skills, develop lifelong learners, and prepare graduates for tertiary education, middle-level skills development, employment, and entrepreneurship. -DEPED K 12 can contribute to: Strengthening early childhood education Making curriculum relevant to learners Ensuring integrated and seamless learning Building proficiency through language Nurturing the holistically Filipino Kindergarten and 12 years of basic education is offered for free in public schools. There are additional indirect costs, but government agencies are collaborating to provide programs that will enable everyone access to quality education, especially to those with lesser means. Proposals such as the expansion of the Education Service Contracting (ESC) scheme under the Government Assistance to Students and Teachers in Private Education (GASTPE) and other cost-sharing arrangements are being developed by DepEd. K to 12 graduates should have higher earning potential as they will be more competent and skilled. As a result of the K to 12 Program, particularly the more specialized education in Senior High School, CHED is exploring the possibility of decreasing the number of years of which will enable them to have more employment opportunities. Certain degree programs in college. K to 12 graduates can obtain national certification from TESDA, After finishing Grade 10, a student can obtain Certificates of Competency (COC) or a National Certificate Level I (NC I). After finishing a Technical-Vocational-Livelihood track in Grade 12, a student may obtain a National Certificate Level II (NC II), provided he/she passes the competency-based assessment of the Technical Education and Skills Development Authority (TESDA). NC I and NC II improves employability of graduates in fields like Agriculture, Electronics, and Trade. After going through Kindergarten, the enhanced Elementary and Junior High curriculum, and a specialized Senior High program, every K to 12 graduates will be ready to go into different paths – may it be further education, employment, or entrepreneurship. Every graduate will be equipped with: Information, media and technology skills, Learning and innovation skills, Effective communication skills, and Life and career skills. MANILA, Philippines – Last May 15, President Benigno Aquino III signed the Enhanced Basic Education Act of 2013 into law. Philippines is the last country in Asia to approved k 12. The implementation of the Universal Kindergarten began in SY 2011–2012. The enhanced curriculum for Grade 1 and Grade 7 (1st Year Junior High School) was rolled out in SY 2012–2013, and will be progressively introduced in the other grade levels in succeeding school years. Grade 11 will be introduced in SY 2016–2017 and Grade 12 in SY 2017–2018. The ? rst batch of high school students to go through K to 12 will graduate in March 2018. K to 12 graduates will be ready to be employed in various industries. Education Secretary Armin Luistro earlier said that the K to 12 program would like to ensure that even if they dont choose to go to college, they finish studying what is basic. As per Republic Act no. 10157 or the Kindergarten Education Act, Kindergarten has become part of the education system and a pre-requisite for admission to Grade 1. Public schools will continue to admit children who have not taken Kindergarten into Grade 1 until SY 2013-2014. Senior high school students can choose from 3 tracks: Academic, Sports and Arts, and Technical-Vocational-Livelihood. After Grade 10, a student can obtain Certi? cates of Competency (COC) or a National Certi? cate Level I (NC I). After finishing a Technical Vocational-Livelihood in Grade 12, a student may obtain a National Certi? cate Level II (NC II), provided he/she passes the competency-based assessment of the Technical Education and Skills Development Authority (TESDA). NC I and NC II improves employability of graduates in ? elds like Agriculture, Electronics, and Trade. In Kinder, mother tongue, shall be used as the medium of instruction. In Grades 1-3, the mother tongue will be used in teaching all subjects, except in teaching Filipino and English subjects. Starting Grade 4, Filipino and English will become the languages for instruction. Starting SY 2016-2017, DepEd shall engage in partnerships with colleges, universities, and Technical-Vocational Institutions (TVI) to use their existing facilities and teaching staff to ensure that reduction in enrollment in these colleges and universities will be offset during the transition period. Private schools are to adhere to the minimum standards of the K to 12 curriculum. They should also follow the K to 12 progression, even if they choose not to offer grades 11-12 (e. g. private junior high schools can remain as such but their students will have to transfer for senior high school). Recommendations In the light findings of the study and the conclusion drawn, the following recommendations are given: K to 12 will be more embraced by the parents of the students if the government will make new ways of helping the parents of the student to make their children’s finish the k to 12 program Most of the student who will undergo k-12 program belongs to a family that has a minimum wage income. And majority of the respondents are 11-12 years old. Based on my study , we can say that k to 12 program will affect the student learning’s and will add training for them to used if they will wanted to work as early in their age. It can be said for the findings that k to 12 will help the youth to be young professionals in the hospitality industry were in job opportunities are more open to them because of the training that they will take in this program. On the findings there for include that the k to 12 has many effects on the students that will undergo the program and they will have capabilities of having work in the hospitality industry but in the study it shows that it also decreased their parents capabilities to support their studies. Decision criteria Future education status Family salary income how do you asses k to 12 program as a student to take the k to 12 program: Quality of the education Effects on the student learning Its effect on the parents capabilities on supporting their Childs education How will it affect the numbers of the students who will continue their studies to attain their degree in college? What is the perception of the students regards to: the k to 12 program the new ways of learning readiness for them to work in a establishment If the TESDA training accreditation will make them more professionals especially on the hospitality industry. Subject – this research concerns with the analysis of the case of k to 12 program in the Philippines that had been implied last 2012 and if can create new hospitality professionals. Respondents – the respondents of the study are the students of San Antonio National high school that has already taking the new curriculum k to 12. Instrumentation – the author used the following instrument to gather important data . Questionnaires are carefully prepared to answer the specific problems of the study. Observation – as means of gathering information for the research may define as perceiving data through the senses. Observation is most widely used in studying behavior. This will be used to determine the actual reaction of the students while the Questionnaire given to them. Setting – the author will focus their studies on the point of view of students in San Antonio national high school in san Antonio village Makati city. Justification Student that will take k to 12 program can acquired the following: †¢ Acquire mastery of basic competencies. †¢ Be more emotionally mature. †¢ Be socially aware , pro-active, involve in public and civic affairs. †¢ Be adequately prepared for the word of work or Entrepreneurship or higher education. †¢ Be legally employable with potential for better earnings. †¢ Be globally competitive. †¢ Every graduate of the Enhanced K to 12 Basic Education program is an empowered individual who has learned, through a program that is rooted on sound educational principles and geared towards excellence, the foundations for learning throughout life, the competence to engage in work and be productive, the ability to coexist in fruitful harmony with local and global communities, the capability to engage in autonomous critical thinking, and the capacity to transform others and oneself. Agriculture and Fisheries, Sports, Business and Entrepreneurship Why add two more years? Decongest and enhance the basic education curriculum. Better quality education for all. Philippines is the only remaining country in Asia with a 10-year basic education program. K to12 is not new. The proposal to expand the basic education dates back to 1925. Studies in the Philippines have shown that an additional year of schooling increases earnings by 7. 5%.. Studies validate that improvements in the quality of education will increase GDP growth by 2% to 2. 2% Minus 2 instead of plus 2 for those families who cannot afford a college education but still wish to have their children find a good paying job. Right now, parents spend for at least 4 years of college to have unemployable child. In our model, parents will not pay for 2 years of basic Education that will give them an employable child. In effect, we are saving parents 2 years of expenses. The plan is not â€Å"Plus 2 years before graduation† but â€Å"Minus 2 years before work Inspire a shift in attitude that completion of high school education is more than just preparation for college but can be sufficient for a gainful employment or career. What will the society gain from K to 12? K to 12 will facilitate an accelerated economic growth. K to 12 will facilitate mutual recognition of Filipino graduates and professionals in other countries. A better educated society provides a sound foundation for long-term socio-economic development. Several studies have shown that the improvements in the quality of education will increase GDP growth by as much as 2%. Studies in the UK, India and US show that additional years of schooling also have positive overall impact on society. What Benefits will Individuals and Families get? An enhanced curriculum will decongest academic workload. Graduates will possess competencies and skills relevant to the job market. Graduates will be prepared for higher education. Graduates will be able to earn higher wages and/or better prepared to start their own business. Graduates could now be recognized abroad. MANILA, Philippines—Adding two years to the present 10-year basic education cycle is â€Å"an absolutely essential reform† to put the country’s public education system at par with the rest of the world, an international education expert said on Wednesday. Sheldon Shaeffer, director at the Bureau of Education of the UN Educational, Scientific and Cultural Organization (Unesco) Asia Pacific, said the K+12 program (Kindergarten plus 12 years) was a necessary reform â€Å"to make the system comparable to and competitive with other countries. † Speaking at a lecture on school leadership at the Department of Education (DepEd), Shaeffer said a 12-year education cycle would be â€Å"more useful to the personal needs and employment opportunities† of its graduates. â€Å"I actually don’t see how people can disagree with it,† said Shaeffer before an audience of top Philippine education officials and representatives from various schools. The flagship education program of the Aquino administration, the K+12 basic education reform plan aims to improve the quality of Filipino high school graduates by adding two years of senior high school to the current 10-year education curriculum. The two additional years in senior high school are envisioned to serve as a specialization period for high school students, whether in vocational skills, music, the arts or sports. This would give high school graduates the option to pursue jobs with a basic education diploma or proceed to college. The program aims to make Philippine education at par with the rest of the world, with 12 years of basic schooling already a global standard. According to the DepEd, only the Philippines, Angola and Djibouti have a 10-year basis schooling cycle. Officials said the two-year shortcoming had proven problematic in the accreditation of Philippine graduates when applying for postgraduate courses and employment overseas. Recently, Laos added a year to its 11-year-program, Shaeffer noted. Education Secretary Armin Luistro acknowledged that the transition to a 12-year system would be difficult but noted that the Philippines was â€Å"already delayed† in coming up to the global standard. â€Å"What we’re looking at now is how to implement it. In [implementing] any change, there will be difficulty and this is what we really have to work on toge

Summary and Analysis of The Squires Tale :: Canterbury Tales The Squires Tale Essays

Summary and Analysis of The Squire's Tale (The Canterbury Tales) Epilogue to the Merchant's Tale and Prologue to the Squire's Tale: The Host laments the Merchant's tale, praying that he would never find such a terrible wife. The Host admits that he also has a wife that he laments marrying. He advises the Squire to tell a tale next. The Squire's Tale is not complete, ending after only six hundred lines. The Squire's Tale: The Squire tells the tale of Cambyuskan, the king of Sarai in Tartary. With his wife Elpheta he had two sons, Algarsyf and Cambalo, and a daughter Canacee. In the twentieth year of his reign on the Ides of March his subjects celebrated his nativity. During a great feast with the king and his knights, a knight with a gold ring and a sword entered the hall. He was sent from the king of Arabia and India, and offers him a steed of brass that can, within twenty-four hours, transport a person safely anywhere on the globe. He also presence to Canacee a mirror that foresees impending mischance and can determine the character of friends and foes, a ring that enables the wearer to understand the language of any bird, and the healing properties of all herbs. He also offers a sword whose edge will bite through any armor but whose flat will cure the wounds inflicted by the edge. The knight was led to a chamber and the ring given to Canacee, but the brass steed would not move until the knight taug ht people how to move it. The horse was a source of wonder for the people, compared alternately to the Pegasus and the Trojan horse. All one needed to do to move the brass horse was to twirl a peg in its ear, according to the knight. After the revelry of the night before, the next morning everybody but Canacee remained asleep until late. She had dreamed of the mirror and the ring and thus had her first satisfying rest in a very long time. As she went out walking that morning with her maids, she came across bleeding peregrine falcon that cried in anguish. It had maimed itself. Canacee picked up the falcon and spoke to it, a power she had gained from the ring the knight had given her. The falcon told her a tale of a handsome tercelet as treasonous and false as he was beautiful.

Ikea Paper

IKEA Business Analysis Industrial Organization – Essay I March 17, 2013 Word count: 3397 Introduction IKEA is a privately held, Swedish multinational company that is one of the world’s largest furnishings retailers. This international home products company designs and sells ready-to-assemble furniture such as beds, chairs, and desks, appliances, and home accessories. The company is the world’s largest furniture retailer. IKEA was founded in 1943 in the South of Sweden, and its name is an acronym of the initials of the founder’s name, Ingvar Kamprad and of Elmtaryd and Agunnaryd, the farm and village where Kamprad grew up.The company is known for its modern architectural designs on various types of appliances and furniture, often associated with a simplified eco-friendly interior design. In addition, the firm is known for the attention it gives to cost control, operational details and continuous product development, allowing it to lower its prices by an ave rage of two to three percent over the decade to 2010, while continuing its global expansion. As of October 2011, IKEA has 332 stores in 38 countries. Most of these stores are directly owned but some are managed under franchise by owners outside the company.By doing this, IKEA faces a higher chance of success than in a sole proprietorship. In fiscal year 2010, it sold $23. 1 billion worth of goods, a 7. 7 percent increase over 2009. In recent years, IKEA purchases from developing countries have grown from 32% in 1998 to 48% in 2003; 29% of its output comes from Asia, 67% from Europe and 4% from the USA (Arrigo, 2005). For a long time, Poland was the second supplier of raw materials after Sweden, but there was recently a giddy increase in China which, in 2004, accounted for 14% of total output, followed by Poland with 12%, Sweden with 8%, Italy with 7%, and Germany with 6% (IKEA. com).To achieve its goal of boosting efficiency while cutting costs and prices to the end consumer, IKEA i s constantly looking for convenient new locations. This paper will focus on strategic investments decisions with regard to innovation and advertising and strategic product feature decisions. IKEA & Supply IKEA's vision is â€Å"To create a better everyday life for the many people. † To meet its vision IKEA provides many well-designed, functional products for the home. It prices its products low so that as many people as possible can afford to buy them. However, in creating low prices IKEA is not willing to sacrifice its principles. Low price but not at any price† is what IKEA says. This means it wants its business to be sustainable. IKEA supplies goods and services to individuals in a way that has an overall beneficial effect on people and the environment. Customers all over the world have responded positively to IKEA's approach. This is evident in its increasing sales. Supply chain IKEA has an extremely efficient supply chain and its management was the key source in IK EA in cost management which gave it a cutting edge among its competitors as it products where charged 30% lower than the cost of its rivals.With regard to the supply chain, the flow of production and processes go through three industrial sectors before the end product reaches the customer. Firstly, it starts with the primary sector concerning raw materials. Natural resources such as timber are extracted and developed. IKEA buys products from more than 1,300 suppliers in 50 countries (The Times 100). It uses a number of trading service offices across the world. They negotiate prices with suppliers, check the quality of materials and analyze the environmental impacts that occur through the supply chain.IKEA aims that all the products and materials it takes from the primary sector do not harm the environment. They also keep an eye on social and working conditions at suppliers. The second step is manufacturing where primary materials are used to build, manufactured and developed to fini shed goods. A key part of IKEA's success is due to its communications with materials' suppliers and manufacturers. During manufacturing IKEA specifies to its producers that waste should be avoided. Where waste does occur the firm encourages suppliers to try to use it in the manufacture of other products.IKEA has a code of conduct called the IKEA Way of Purchasing Home Furnishing Products, the IWAY (The Times 100). This contains minimum rules and guidelines that help manufacturers to reduce the impact of their activities on the environment. IKEA aims that all there products are manufactured in a responsible way. The tertiary sector provides services needed to meet the needs of the end users such as retailing, distribution, insurance, and customer services. IKEA's retail stores add value to manufactured goods by providing a form of shopping different to the usual high-street experience.They meet the needs of the consumers in a number of different ways. Each IKEA store is large and hol ds more than 9,500 products giving lots of choice. Within each store, there are a number of realistic room settings that enable customers to see what the products would look like in their own homes. In addition, the IKEA store is built on a concept of â€Å"you do half, we do half; together we save money†. This refers to, for example, the customer assembling furniture at home. Customers handpick products themselves using trolleys. Also, IKEA provides catalogues and home delivery to save customers’ time.IKEA stores also have restaurants that provide Swedish dishes alongside local food choices. IKEA & Competition To define the relevant market, IKEA operates in a perfectly competitive market. IKEA is a furniture store and there are many other furniture stores owned by various different entities (so there are many suppliers in this market). Normally the firms in a perfectly competitive market would be price takers. However, IKEA has a lot of market power as it is able to r aise its prices above the perfectly competitive level without losing many consumers. Therefore it can be stated that IKEA is a price setter.There are off course competitors, however it seems that IKEA does not really take competitor’s decisions into account as they are not really relevant to their own decisions. IKEA sets its prices very low because they face low production costs as a result of strong relationships with its suppliers. Competitors are predictable but even if they were unpredictable, IKEA would not be affected by their decisions as the firm is already at the bottom end of the market. IKEA makes use of their concept in a global strategy that designed furniture for a lower price than other competitors offer that can be sold everywhere for the targeted market segment.Sometimes regional differences appear that arise form national habits, lifestyles and culture. What gives IKEA a huge advantage in selling its products at a lower price springs from their â€Å"young † concept is that the customers have to bring home the products and assemble it themselves. No other firm manufactures as much furniture as IKEA. The firm can and will eliminate any local competition by using their global position. It is a fact that they have no competitors on the global market. IKEA’s success was recognized to its vast experience in the furniture retail market, its product differentiation and cost leadership.Across markets where it presently has a presence, products are sold at prices that are 30 to 50 percent lower than competing products. This penetration pricing enables IKEA to gain significant market share. Low prices are a result of large-quantity purchasing, low-cost logistics, and store location in housing areas. In addition, IKEA also benefits from economies of scale and healthy supplier-firm relationships. IKEA enters into long-term contracts, provides leased equipment and technical support in exchange for exclusive, low-cost manufacturing fro m suppliers.For new markets, IKEA should retain its price-image to maintain the brand’s positioning. IKEA strives for cost leadership, and for this reason it negotiates the most cheap conditions with a very large number of suppliers, a large part of whom live in eastern Europe and Asia, where the cost of raw materials, manpower and warehouse rentals is lower than elsewhere. IKEA always tries to acquire raw materials at the best price, choosing the suppliers with the cheapest price but it is equally focused on maintaining good relationships with them to avoid late deliveries or poor workmanship.IKEA’s low cost policy is based on several factors. Firstly, and previously already mentioned, it is based on economies of scale where large volumes reduce the unit cost of production. Secondly, the low cost policy is based on economies of transport where large orders of products permit to IKEA to transfer transport costs to suppliers. Low running costs inside the stores is also a factor. For example, the group uses buildings that are easy to build and inexpensive to manage, and it also has a ‘dressdown policy’, with all employees wearing the same uniforms, which are very simple and ractical. A last factor with regard to low cost policy is the purchases of unassembled products from suppliers with a consequent reduction of costs (taxes are lower for components than for finished products). IKEA & Demand With regard to the number of buyers, this market faces a great number of buyers as IKEA wishes to reach everyone who needs a new piece of furniture or accessory. IKEA provides its products to end consumers as it only supplies their final products. These consumers can be households, other companies, or governments for example.On the demand side, the active participation of its customers, who are seen as genuine partners, is a source of economic saving for IKEA. Most of its products are packed in flat packs and the customer has to take them home and assemble them, paying the cost of transport and assembly, and thus reducing storage costs for IKEA. Wherever consumers go to IKEA stores, products are always the same. Consumers therefore know what they can expect and for what price. This is a very strong characteristic of IKEA because familiarity with a brand makes consumers come back.The 9,500 products that IKEA supplies is available in all IKEA stores and customers can order much of the range online through IKEA’s website. By doing this, IKEA makes products easier accessible, reducing the distance a consumers has to travel when choosing to purchase IKEA products, and bundles its good together with home deliveries of the orders. An IKEA market strategy in terms of service providence to their customers is always a unique one. The stores and services of IKEA are very much different from the other furniture vendors. The stores are very much spacious and divided into cheerful model rooms.This provides wide range of services to its customers to choose the furniture according to the measurements of their house along with the prices and variety of designs that are showed in kiosks. In addition, IKEA also provides childcare centers and include restaurants and cafes serving typical Swedish food. They also have small food shops selling Swedish groceries, everything from the famous meatballs to jam. Stores are located worldwide. It welcomed a total of 565 million visitors to the stores during the year 2008 and a further 450 million visits were made to the IKEA website.Low prices are one of the cornerstones of the IKEA concept and help to make customers want to buy from IKEA. IKEA's products cater for every lifestyle and life stage of its customers, who come from all age groups and types of households. This is vital in times when the retail sector is depressed, as it increases IKEA's potential market. The wide range of products that IKEA offers are of most value for consumers. Consumers prefer to have a lot of c hoice for good quality and low prices. IKEA’s product based market strategy drew many customers to their store and kept it the top position in the global market of the furniture companies.As previously mentioned, IKEA issued variant catalogs of their products in different native languages so as to reach all sections of their customers. IKEA also adopted some of the experimental marketing strategies for the publicity of their products. In earlier years it has taken decision to decorate a chain hotel with their furniture that has become a beneficial market strategy for both the parties. Its main aim is to target the customers of that hotel and market their products. Even the chain hotel gets benefit to decorate their hotels with lavishing furniture at low cost.Furthermore, the most important strategy of IKEA is not providing the exit for the customers who had entered in to their stores without having seen all the furniture in store. In this phenomenon there is scope that the cu stomers may go for the more furniture that is not actually needed (Kotelnikov, 2005). Since it was founded IKEA has always had concern for people and the environment. The IKEA vision â€Å"to create a better everyday life for the many people† puts this concern at the heart of the business. IKEA has responded to the public's rising concern for sustainability in its choice of product range, suppliers, stores and communication.It has also spotted business potential in providing sustainable solutions. IKEA's concern for people and the environment encourages it to make better use of both raw materials and energy. This keeps costs down and helps the company to reach its green targets and have an overall positive impact on the environment. IKEA aims to be a responsible organization and believes that a strong environmental stance is good business practice, as it also has shown as the current trend of more â€Å"green† and environmental friendly preferences of consumers when ch oosing their products.Demand & Supply Function Demand Function There are a couple of variables that are relevant to the quantity (Qd) of IKEA goods and services that consumers are willing and able to purchase, in other words demand. First of all the price of the goods (P) IKEA sets affects the demand. Next to P, prices of related goods and services (PR) are also important as those are goods from which inputs are derived to be used in the production of the primary good. The prices of related goods and services are therefore taken into account when IKEA sets its price (P).The expected future price of products (Pe) might also influence demand because if a consumer believes that the price of the good will be higher in the future, he or she is more likely to purchase the good now. In addition, prices of all other companies’ products (P1†¦Pn-1) have an influence on the demand function of IKEA. If their prices are much lower than IKEA prices, consumers will buy from other firms . However, as already mentioned, this is not the case for IKEA as they offer products for low prices. Also, if the consumer expects that his income will be higher in the future, the consumer may buy the good now.Therefore, expected future income (Ye) also affects demand. Thirdly, the incomes of consumers (Y) are also relevant to demand because this influences the ability to purchase the IKEA goods. Demand is also affected by the number of consumers in the market (N), the more consumers in the market, the higher the demand for the IKEA products. Moreover, advertising expenditure (A) affects demand as well. The more advertising, the more consumers are informed or persuaded to come and buy at IKEA. IKEA shows to be very efficient at this with providing their catalogs.Lastly, consumer tastes and preferences (T) also affect demand. It seems that consumers prefer IKEA products over other products because of its low prices and quality of the products. However, consumers incur transportatio n costs (t) that have an effect on preferring to buy from IKEA (which is often located just outside the city center) or to buy from a shop closer to their homes. Consumers know that IKEA provides very high quality products no matter in which shop they will buy the products and consumers could therefore prefer IKEA products over other. The general demand function for IKEA would therefore be:Qd = f (P, PR, Pe, Y, Ye, N, A, T(t)) or, Qd = a + bP + cPR + dPe + e(P1†¦Pn-1) + fM + gYe + hN + iA + jT(t) Where b, c, d, e, f, g, h, i, and j are slope parameters that measure the effect on Qd of changing one of the variables while holding the others constant. We assume that, all in the short run, there is no change in taste and preference, that the income of the consumer is constant, that there is no change in customs, habit and quality of goods, no change in substitute products, related products and the price of the product, and finally, that there are no complementary goods.Supply Funct ion There are a couple of factors that affect supply, the amount of products IKEA is willing and able to sell at a given price all other factors being held constant. Firstly, the price of IKEA’s products (P) influences the supply function. Ikea can be seen as a leader in this market and therefore it might be the case that the firm cuts its price, possibly as an attempt to keep the number of entrants low. Secondly, the price of related goods (PR) influences the supply function.If the PR increases, the cost of production will increase and therefore supply would decrease. Thirdly, technology (T) with regard to production affects supply in a way that whenever there is a technological advancement or technology used making production very efficient, the supply increases as production costs decrease. In addition, the price of inputs (PI) such as labor, energy, raw materials, influence supply. When PI increases, sellers are likely to raise P for each unit of output.For IKEA it is kno wn that they have access to relatively cheap raw materials and an increase in PI would not quickly lead to an increase in P because IKEA aims to keep its prices low. Moreover, the number of suppliers (N) in this market might have a small effect on the supply function of IKEA. There are already many suppliers in this market and an increase in N would not lead to a significant decrease in P of IKEA. As stated previously, in creating low prices IKEA is not willing to sacrifice its principles (â€Å"low price but not at any price†).Expectations (Em) concerning the future market condition can directly affect IKEA’s supply in that whenever IKEA believes that the demand for its product will increase in the foreseeable future, IKEA will immediately increase production in anticipation of this increasing demand and therefore future price increases. Lastly, government policies (G) and regulations can have a significant effect on IKEA’s supply. For example environmental reg ulations could influence decisions IKEA has to take in consideration when switching to a new supplier of raw materials. The general supply function for IKEA would therefore be:Qs = f (P, PR, T, PI, N, Em, G) Assuming that all consumers know all things, about all products, at all times (including knowing the probabilistic outcome of all future events), and therefore always make the best decision regarding purchase. In addition, assuming that Ikea is the leader in a market with a large and endogenous number of firms. Decisions As IKEA is already at the bottom end of the market and operating very efficiently and profitably, the only decisions that they will face would be concerning future investments, advertising, and product features. One of the things that IKEA is now able to do is expanding more to new markets.So far, IKEA has limited its store locations to some of the most heavily populated markets in the countries in which it competes. To continue its growth trends, IKEA may have to begin investigating other (smaller) communities. IKEA has to consider how it will respond if and when a lower priced competitor enters its market. Also, IKEA may want to consider that its product assortment and promotions may not appeal to all cultures. However, for new markets, IKEA should retain its price-image to maintain the brand’s positioning. New cultures mean also that branding has to adapt to popularity in those particular new countries.For IKEA, despite the history of success the company has enjoyed thus far, there are no guarantees for the future. If IKEA does not keep on innovating and making the right expansion decisions, the company will become increasingly vulnerable to new competitors. Word count: 3397 References Arrigo, E. (2005). Corporate Responsibility and Hypercompetition. The IKEA Case. Symphonya, 2, pp. 37-57 Facts and figures, www. IKEA. com. Kotelnikov, V. (2005) Experimental Marketing. Retrieved from: http://www. 1000ventures. com/business_guide/m arketing_experiential. html Building a sustainable supply chain: An IKEA case study. The Times 100.

The Rise Of The Arab Spring - 1555 Words

With the spread of the Arab Spring, the revolutionary wave of demonstrations, riots, and civil wars in the Middle East that began on 18 December 2010, pro-democracy Syrians rose in rebellion to the existing regime of Bashar al-Assad, Syria’s president. Assad’s regime brutally fought back and with the escalation in violence, Syria descended into a civil war, with each side scrambling for control over towns and cities (Rodgers). The Syrian government has committed several war crimes such as torture, rape, murder and the use of chemical weapons, which led to the death of thousands, in an attempt to crush the opposition movement and regain control over Syria. Additionally, the civil war, has aided the rise of ISIS (Islamic State of Iraq and†¦show more content†¦Despite the fact that direct intervention in Syria could put USA’s relationships with Russia and Iran on the line, inaction would lead to a Syrian genocide and increasing war complexities. Any US mili tary intervention would have to take into account the impact it could have on the actions and desires of myriad other actors: jihadist fighters, Islamist political players such as the Syrian Muslim Brotherhood, and most prominently Assad’s allies in Iran and Russia. (Lowy Institute). These two nations have been very important players in the Syrian civil war as the Syrian government’s war arsenal is backed up with checks from these two countries. Assad’s government has spent these checks on arms and chemical weapons. The chemical weapons, however more prominent, have been used against the rebels, killing thousands of people in addition to those killed by torture and systematic murder (Pearlman). Assad has been claiming that the main reason he has started this full-fledged war is to suppress ISIS, which blossomed with the increasing complexity of the civil war. However, multitudes of innocents have been killed on the sidelines, and Iran and Russia have been import ant benefactors of this movement. U.S. intervention for humanitarian reasons could indeed possibly provoke stronger involvement by Russia and Iran. However, the direct involvement of these two countries in Syria

Subway Marketing Plan Essay example - 1404 Words

SUBWAY MARKETING PLAN 1. EXECUTIVE SUMMARY: SUBWAY (restaurants) is an American fast-food franchise owned by Doctor’s Associates, Inc. Subway was founded by Peter Buck and Fred Deluca, with its first restaurant being set up in Bridgeport, U.S in 1965. The franchise runs 38,813 restaurants in 99 countries. Today, the SUBWAY brand is the worlds largest submarine sandwich chain. The SUBWAY franchise provides variety of great testing and healthier foods and the third largest fast food chain. Being a part of highly competitive market, SUBWAY has to complete other fast food franchise like McDonald, Pizza Hut, Burger King, and KFC. In this situation SUBWAY has to adopt rigorous marketing plan in order to maintain sales growth and†¦show more content†¦Majority of population lies in between these age groups. The SUBWAY chain is worlds largest submarine sandwich franchise, spreading very fast globally to bring great taste and fresh ingredients to consumers. It is seen that SUBWAY is maintaining its core menu with the touch of some kind of cultural and religious segment. So that travellers can expect same good quality food regardless of what country they are visiting. On the other hand, SUBWAY always target different age group, through their interest especially improving kids meals. SUBWAY SEGMENTATION Age group (18-40) Income level Healthy life style Urban areas Kids meal Worldwide location SUBWAY menus are mainly designed for young generation. Their center of attraction is the people between 18 to 40 years old. They also flexible in terms of budget of the consumers. They provide low cost products especially for them who have low income. SUBWAY is committed to provide healthy food which matches with peoples healthy life style. They are now improving kids meal to attract kids as well. 7. COMPETITORS: McDonald’s is the major competitor which is the world’s largest food survives relating chain with 31,000 fast food restaurants in 119 countries. The company also operates restaurants under the brand name of the Boston Market and Chipotle Mexican Grill. McDonald’s operates largely in the U.K and is headquartered in Oak Brook, Illinois employing 447,000Show MoreRelatedMarketing Plan For Subway Marketing1516 Words   |  7 PagesExecutive summary The marketing plan has close ties with the overall financial and business plan. This plan contents a strategy for success, and breaks it down into coherent, actionable components that will aid The Sub Shop to implement marketing activities to provide a firm return on investment. The following areas will help explain how the company plans to differentiate the business and product offering from the competition, and define the strategy that will drive its business forward. 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Pros And Cons Of An Armed Pilot - 1622 Words

The Arming of Pilots Samantha Howard 19 May 2017 ELA 6 D. Will Table of Contents Abstract pg.3 Introduction pg.4 History pg.5 Problem Statement pg.5-6 Findings pg.7-8 Resolution pg.8 Conclusion pg.9 Works Cited pg.10 Addendum pg.11 Abstract The purpose of this research is to identify the pros and cons of an armed pilot. The argument on armed pilots has grown into a national debate. The goal is to bring awareness to the audience about plane hijacking and the benefits of a plane with arms on it for precautionary measures. This has been done by finding and examining many articles, periodicals and websites and citing the claims that have been read†¦show more content†¦Everyone becomes aware of their fate and calls loved ones as an act of â€Å"last words†. Ever since 9/11 the safety of a plane and its people has been every airlines top priority. There have been many changes in how an airline runs, some temporary and some everlasting. New advancements in machines for checking bags and people has sky rocketed. For example metal detectors, X-Rays and trace portal machines, all which check the human body for hidden metal and traces of bomb making material. There have also been added safety rules to create stricter guidelines on passenger and luggage screening, only passengers with tickets could go through security and travelers must remove shoes (Villemez 1). Liquids are no longer allowed on the plane unless distributed by the stewardess when you arrive on the plane ( Villemez 1). History The past is always recognized because it paves the way for the future. Many people study the past to make advancements so past happenings will not be repeated in the future. Looking back in the past for pilots, that job type has always been risky. There has always been the risk in flying a hunk of metal in the sky for miles trying to keep the plane steady with out crashing while facing adversity like turbulence and rain, but now there is an added worry to also losing control of the plane. Pilots now also must worry about extremists potentially hijacking the plane. There have been previous plane hijackings in theShow MoreRelatedThe Debate Over Capital Punishment1183 Words   |  5 Pagespunishment abolished. The others want to see it revised and maintained. Capital punishment is being sentenced to death and executed for committing various crimes. Usually, it is reserved for convicted murder cases, but had been used for others such as: armed robbery, kidnapping, rape, and treason. Only about sixty countries still use capital punishment – the United States included. Canada, Australia, and most European and Latin American nations have abolished it. 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Factors Affecting Consumers Eating-Out Choices in India

Questions: To conduct a survey to find out if people are interested in the new Buffet restaurant idea. To determine the right target market for the new Buffet. To measure the feasibility of the new Buffet restaurant in Karolbagh, Delhi. Answer: Introduction: The main purpose of this business plan is to make Indian restaurant where customers can get the best of regional cuisine from all parts of India. There is a plan to have an experienced staff that will make delicious Indian dishes using only the finest and freshest ingredients and spices. For make it reality, the strategic business plan needs to be established. The location for this business plan has been selected at Karol Bagh, in New Delhi. There are many factors which makes this chosen location a most feasible place to set up a new business. Driven by the average growth rate of 7 to 8 percent over last few years and three fifty million strong and growing middle-classes with enhancing purchasing power, the business market of India is reforming the worlds economy. Investment in almost every industry (Food, Education, Retail, Healthcare, and Energy) of the nations economy has a promise of high returns that has caught the attention of foreign franchisees and the investors. The start up budget cost of Rs.1236000 has been estimated for make this project a successful one. Rationale: Significant economic and dynamic facts: India has experienced acceleration in sustainable growth rates per capital income over the previous years (Ali Nath, 2013). It has been grown by about 23% in 2010-2015. The positive fact is that the nation has been successfully increasing urbanization and rising disposable incomes, which encourages large number of business entrant. The present size of the Indian food industry stands at Rs 247680 crore per annum and is expected to increase at 11 per cent by the year of 2018. In addition, New Delhi with a popularity of 16.78 million will definitely consider a target customer for the new project. Another factor is that Delhi, the capital of India one of the favourite places of the foreign investors compared to any other Indian cities. The restaurant sector is a significant element of the Indias economy and new employment opportunities in this industry should prominently grow in the future as a result of the direct demographic changes. However, the national consumers spend only 2.6% of their food expenditure in restaurants and hotels. On the other hand, British, American consumers spend 29% and 46% respectively. These statistics indicate that there is a large scope for the growth of the food business in India in the coming years. Menu diversification: Indian consumers are seeking variety of menu. High-income consumers are like to experiment various fusion buffet and new generation are willing to taste new foods at their daily schedule. Therefore, an All you can eat buffet, Fusion Buffet will surely gained the popularity with the industry growth. Number of Restaurants in India The assessment of total number of restaurants in New Delhi is not a very easy task. Most of the food service providers get their licenses from the local municipality. The license has mainly taken from the point of view of hygiene and health. Therefore, the authority needs to follow all legal proceedings before starting business operation for this project as well. The roadside restaurants are very popular in India. So the location of the business must be selected in such a way, where number of customers can get their fusion buffets at the easiest way. Restaurant valuations and Feasibility studies: The restaurant business has not yet flourished fully into a mature business in India. In spite of that, it has been evaluated that there is a huge market scope in India mostly because of the competition and changing market trends. These stimulated largely at this industry expansion in all major metro cities like New Delhi. May be for this reason, the many restaurants change their operation one hands to the others. Restaurants valuation, indeed, an important factor, needs to be handled with specialized manner and the appraisers of restaurant real estate generally consider three approaches for valuation: the sales comparison method, the cost method and the income method. Each has its own strength and weaknesses. Here the cost approach should be the most feasible because it will consider the estimated cost of buying a site appropriately for fusion buffet development. By analyzing both the developmental cost figures and current market conditions and considering other attributes like loca tion, size, standard and facilities, this project is completely feasible. It is also expected that this investment will generate high returns and anticipated income can be covered its expenses in the long run. Mission To serve high quality delicious Indian cuisine at the reasonable price with a little bit of twist of local flavors, receiving good customer response is the ultimate mission of the company. Vision Establish a diversified food variety by incorporating best of the cuisines from different parts of India along with premium quality services is the strategic vision of the Fusion Buffets. The company is willing to achieve the leading position in buffet restaurant business in New Delhi and enable sustainable growth and industry progress. Aim To bringing diverse taste of Indian foods with high quality customer services is the main aim of this business plan. Figure 1: Estimated highlights (Source: Created by author) Objective To target high income Indian consumers who are seeking variety in their choice of food To achieve average sales between Rs5000000-80000000 in a financial year To maintain gross margin 71% in the initial phase and ensure it to grow by 74% in the next phase so that 77% growth can be achieved within three years from the date of inception. To establish a brand recognition in India Design and Structure of the report The concept of the proposed business should be clear and realistic. So this business plan needs to highlight a perfect business concept including all key elements like target market, list of food deliveries, features, planning for business involvement and so on. These strategic concepts will help to achieve the vision and mission statement of the Fusion Buffet. A study of business feasibility is another component which assesses how this business plan is realistic. There are five major areas needs to be researched in this section, including the food service, related food industry, market capitalization, organizational aspects and financial factors. The direction of the business efforts should be well directed so that emergent resources used in optimally. For analyzing the feasibility of this business plan, it is required to use business model highlighting factors like the core strategies to enjoy the competitive advantages. The business model will help to develop business networks, which are essential for sustainable business ventures. The brand value enhancement can be increased by the use of a strategic business model. The entire business proposal is depends on the business plan. It will help Fusion Buffets to reach their goal within a time frame. The realistic plan must incorporate the risk factors which can often be diversified with proper planning. A proper start up budget with future investment estimation is an essential part of the new venture, like Fusion Buffets. Relevant Models and source of information The primary market and industry research will be done for understanding the growth factor of the business. The relevant information and data may be collected from the FSSAI (Food Safety and Standards Authority of India), journals, books related to hotel and restaurant industry of India and many more. The management tools like SWOT and PESTEL will be used for analyzing future market scope. Actionable assumptions It will assume that the current food industry in India is stable, growing and no economic downfall/ recession has been take place in the recent times. It will also anticipate that no capital scarcity is there and the sufficient resource can absorb all operational expenses related to this business. This will assume that there are no sudden changes in market analysis findings and demand of the buffet food industry. Timescales for achievement Then following table is important for achieving the milestones with dates and people in change and budget for each. This schedule highlights the emphasis for planning and implements it into a realistic way: Figure- 2: Plan of activities (Source: Created by Author) Milestones Start date Finish date Managers Department Site selection 1.8.2016 5.9.2016 Founder Management Business Design 10.9.2016 1.1.2017 Founder Management Website Design 1.1.2017 25.1.2017 Design Manager Website Restaurant furniture and others 5.1.2017 1.2.2017 Head of the Admin Management Bar, restaurant and Kitchen Equipment 2.2.2017 28.2.2017 Head of the Admin Management Construction of Fusion Buffet 1.1.2017 23.4.2017 Founder Management Inspection 15.3.2017 31.3.2017 Head of the Admin Management Recruitment of font staff, back staff, head chef 1.3.2017 1.4.2017 Head of the HR Human Resource Department Opening of Fusion Buffets 1.5.2017 1.5.2017 Founder Founder Business and marketing plan check 1.12.2016 ongoing Marketing head Marketing Finance review 1.8.2016 ongoing Finance head Finance Table 1: Time scale for achievement (Source: Created by Author) Business Concept Product and services Fusion Buffets will try to experiment a lot of Indian, southwest and Asian foods, which is very popular in India, specifically in metro cities, like New Delhi. In metros, some important demographic changes have emerged in recent times: a lot of working women gets a little time to cook at home; a huge people travels more and is exposed to different types of cuisine (English, 2012). So the variety of taste should be the USP of the company. Nowadays, major sections of people are health conscious (Srivastava Bhano, 2016). Fusion Buffets will pay a special attention to make food healthy and delicious concentrating more on experimental twists and turns. It will try to experiment trends like Chino latino which is a Chinese style of cooking adding some exotic flavors or Indo-latino where a typical herbs are used in preparation of Indian Tandoor dishes. The Indian customers are also like Sushi, Hawaiian and Japanese foods cooking fusion with a lot of seafood, which are healthy and tasty as w ell. Fusion buffets is going to introduce a new recipe like the fresh Indian ingredients cooked in Thai style. With an emphasis on ingredients such as vegetables, fish, grains and serve different types of main course is the USP of this business. The variation of food starts from starters where north Indian dishes like Chaat, Awadhi prawns, Shami kebab are very popular in Delhi. However, a large population of Delhi is coming from South and West part of the nation. So Fusion buffet is planning to present both the cuisine with a blend of new surprises. Apart from restaurant dishes, the bar and lounge are another attraction for high profile customers. Here the customers can enjoy their private time with a variety of drink options. The owner of the business is looking for a high standard customer services. So Fusion buffet is quite confident to have presented themselves as an ultimate destination to enjoy with food and drink. Target Market Karol Bagh has been selected for the food business because of its location to the very busy intersection of Ghaffar market and Ajmal khan road. This area is known for shoppers destination and situated at the Central Delhi. So the target market consists of high profile business people, middle-class families, tourists, couples and college-goers as well. All these target audiences will feel more appreciated by cool atmosphere and premium services. The separate arrangements of foods and drinks will be comfortable for the middle-class Indians (Okeiyi et al. 2014). The blends of good food with drinking option with a sophisticated environment would be ideal for dates, romantic meeting spot for the couples. Additionally, the target consumers for this business luckily have a high purchasing power, which is definitely a favorable factor for the new venture. Target Customers Age group Characteristics Delivered food items i) Business communities 30- 60 Preferred to eat healthy foods with premium quality soft and hard drinks To be introduced experimental starters added healthy quotient, supreme quality of hard drinks ii) Couples/Single end customers/families 22-45 Preferred to eat healthy delicious Indian dishes, deserts and soft drinks Availability of all types of regional Indian cuisines like north Indian dishes like dal-chawal, dal-makhani, south Indian dishes like idly, dosa, uttapam, eastern dishes like various fish items and east Indias famous chole butture and many more. iii) Teenagers 13-19 Love to taste fast Indian dishes Various types of rolls (Chicken, mutton, paneer), popular Indian cutlets, Chinese dishes iv) International Tourists/foreigners 25-52 Authentic Indian foods and international cuisines as well, premium quality hard drinks Traditional Indian dishes along with variety of international cuisines (sushi, Thai, continental) Table 2: Target Customers (Source: Created by Author) Value-added services Unique added services always generated more customer responses and increased the brand recognition (Thai Anh, 2016). It has been planned to present unlimited buffets services at a fixed amount. The rates will be varied with days. In weekend, rates must be higher but affordable. For additional promotion, the company will have a plan for discount services at the pick season so that more customers get an opportunity to taste their foods and services. The menu will be changing in every weekend so that customers can get fusion of new experimental dishes at a sophisticated atmosphere. There is a plan to employ exceptional staff with the can do attitude so that customers get the best services from them. Unique Features Indian cuisine encompasses a wide ranges of regional cuisines: for example, Delhi is a place of Dal makhani and chole bathure (north Indian dishes), whereas people from Kolkata is fond of fish items. So the idea will to bring the taste of Kolkata and serve it in a traditional way in front of the Delhi audience. The seasonal dishes will also be introduced at times so that people can celebrate the occasions with the appropriate foods as well. Fusion Buffet will accept cash and cards both. The owner of the business is also planning to collaborate to other businesses for the promotional events. The idea is to promote this food brand with the soft-drinks companies. It will provide special offer like buffets coupons along with soft drinks where customers will pay only the buffet amount excluding the cost of soft drinks. It will get the additional response and returns will be higher. Stakeholders Response The stakeholders response for any new entrant business is always an important consideration because it is directly related to the sustainability of the venture (Javed, 2015). Future Buffet restaurant shall have two different kinds of stakeholders: internal and external. Internal stakeholders who run the business operations directly like Fusion Buffets owner, employees, manager, chefs, shareholders, directors. Shareholders or investors of Fusion Buffet are very cooperative so far and ready to invest in this business so that they will earn good return against such investments (Siemering, 2014). The owner of the business is quite optimistic to get a good support in future business enhancement. Also the enthusiastic employees and administrative people of Fusion Buffet will be committed and motivated to give the best service to customers. Therefore, the business will get the best response from their internal stakeholders. On the other hand, the response of external stakeholders like custo mers, suppliers of the business will also be evaluated. The good response from the target audiences is already analyzed. Furthermore, the locally sourced vegetables, meats and seafood are all easily available at the area of Karol Bagh. Therefore, the new business can easily be flourished with the source of good suppliers response. Growth Opportunities The food service industry is growing rapidly and this sector is largely responsible for the nations GDP growth. Table 3: Growth Opportunity of the dining business (Source: Created by Authors) The growing market size can easily accommodate the new entrant business where the restaurant segments will continue to rise their per capital return because of: Increasing working professional who hardly gets time to cook Rapid development and consumerism Increasing purchasing power of individuals Rise in number of nuclear families Little barriers to entry allows for quick business opportunities Feasibility Research The feasibility research Plan It is always a matter of concern whether the opening of food dining business at Karol Bagh in New Delhi feasible in the future or not. Such feasibility must be planned strategically with highlighting the important components like industry analysis, growth opportunity of the delivered products and services, market analysis, segmentation and trends. The feasibility research will also evaluate the organizational structure and the financial sources, so that the business planner needs to take essential decisions for such business establishment. All these aspects need to analyzed in the feasibility plan section for mitigating systematic and unsystematic risks and ensure the long term sustainability. Needs of primary and secondary data The entire feasibility research will be done with the help of primary and secondary data. Primary data are those, which are collected for a particular investigation like market research feasibility study. The secondary information regarding this business plan will be collected from the different Indian restaurant sites, statistics from the Indian governments reports, books, academics, journal and various published articles. Here all types of information are relevant for doing such feasibility analysis because various sources explore different areas of the business plan. Research Methodology Procedures for data collection To determine if a new dining business can successfully generate high revenue in Koral Bagh, New Delhi, a business must be established. The strategic procedure of presenting such business plan will require comprehensive wide research including key components like market trends, competitors edge, market segment, growth, needs, market positioning and many more. At the beginning of the business plan, the offered products or services must be described. The interviews of various restaurant owners of India, their views, and approaches all are relevant for this feasibility studies. The following are the qualitative responses related to the proposed business plan. What do you think about eating out? Convenient than cooking myself Expensive Very rarely Doesn't matter Standard Deviation Responses All Data 16 1 3 0 6.44 20 (80%) (5%) (15%) (0%) Table 4: Habits of Eating Out in India (Source: Created by Author) How many times do you eat outside in a week? 1-2 3-5 6-7 Standard Deviation Responses All Data 10 9 1 4.03 20 (50%) (45%) (5%) Table 5: Satistics of eating out in a week (Source: Created by Author) How often do you eat in a restaurant? Frequently Sometimes Never Standard Deviation Responses All Data 11 8 1 4.19 20 (55%) (40%) (5%) Table 6: Statistics of Indian people to eat in Restaurant (Source: Created by Author). When choosing a restaurant what factors do you consider most ? Ambiance Variety Price Hygiene Service Other Standard Deviation Responses 3 8 2 4 1 2 2.29 20 (15%) (40%) (10%) (20%) (5%) (10%) Table 7: Choosing factors of customers (Source: Created by Author) The financial documents related to this food industry are then quantitative part of the business plan. In this financial part, the start-up costs, operational costs must be incorporated. In addition, the cost of labor, opening inventory, PPE, marketing, advertising, cost of furniture and necessary equipments all should be planned and analyzed. The most of the information will find related on websites selling the products that is required for start-up the business. The proper organizational space must be discussed for planning space accommodation. The desired for this project is between, 1800 to 2000 square feet. It can be assumed that 60 percent of the space will be used for dining, and 40% will accommodate for preparation, cooking and storage sections. The future renovation costs must be planned at the time of start-up cost estimation. In addition, market population must be researched for a realistic business plan. In that case, the census data will be required for getting accurate details of the population demographically as well as the details of household income distribution and per capital income of the selected area, i.e. New Delhi. Data analysis procedures The above collected data must be analyzed both in the way of qualitative and quantitative. A SWOT (Strengths, Weaknesses, opportunities and threats) analysis will be discussed from the market information and competitive analysis. It will help to identify the internal factors that are significant to achieve the business objectives. The future scope and capabilities, a competitive advantages must be developed. It ensures the future stability. Finally, for ascertaining if Fusion Buffets will be able to generate and maintain a profit, profitability study will needs to be evaluated. This will be done by analyzing sales forecasts, statement of cash flows, breakeven analysis to ascertain if Fusion Buffet is indeed profitable. Assumptions It has been assumed in this business plan that dining business is growing and this project is getting a good response from the stakeholders side. The assumption is also made that Fusion buffets will get their distributors and suppliers easily from the market Limitation The estimated sales, revenue, and related costs may be fluctuated. It is not possible to highlight all the possible factors within limited resources and time. Key areas of feasibility research Products/Services feasibility Fusion buffets will offer fresh and mouth-watering dishes with a variety of regional Indian cuisines. Along with that, the various alcoholic and non-alcoholic drinks like champagnes and wines will be served as customers demand (Byrd et al. 2016). The lunch and dinner will be served at the scheduled time. Every day the lunch will be served at 12:00 am to 3:00 pm whereas dinner will be ready from 6:00 pm to 11:00 pm. Most of the target audiences are preferred to have their dinner at restaurant in India. So the dinner serving time will be longer than lunch time. Planning for a fixed plate menu will also be considered for getting more response from the customers. It means serving foods will not be changed as per the customers request and price of that item will be lower for this reason. This will attempt to get the higher returns despite the lower price will be charged against those item. In addition, the main course dishes will provide fusion of Indian cuisine: from North Indias favouri te Dal makhani to East Indias popular Fish curry all will be served on a daily basis. For the demand of international customers or tourists, Fusion Buffet will provide various international dishes adding Indian flavours in it. Additionally, the efficient employees of Fusion Buffets will deliver the supreme quality service. Figure 3: Estimated service of the business (Source: Created by Author) The research have been conducted (secondary research and questionnaires), for evaluating customer preferences towards the combination of bar, lounge, fine dining restaurants. The traditional Indian taste, preferences, availability of variety of drinks- all are the prime factors of the selection of the buffet restaurant by the Indian consumers. Industry feasibility The food service industry of India is worth $41.3 billion and growing at a CAGR of eleven percent (Hastings, 2015). The industry insiders have already estimated to reach 68 billion dollar by 2018. The most favourable statistics is that the age group profiles of those who eat out are between 21 to 30 years. It is promising that the youth of India are willing to eat out and directly contributed in growth of the industry. Majority of restaurants are established major cities where density of residential areas is high. Properties, which are near at workplace, are also in high demand. Therefore, the Karol Bagh destination is the ideal for this business plan because that area comprises of both and positioned at the Central part of Delhi. Table 8: Going-out habit of Indian Youth (Source: Quadri-Felitti Fiore, 2016) Competitive Analysis The franchise business model now is very popular in India since in mid- 1990s. The brands like Subway, CPK, Papa Johns, Dunkin Donuts, Starbucks, Pizza express all are very popular in all metro cities (Fong et al. 2016). But a good ethnic Indian cuisine is very rare to find. So there is a huge growth opportunity in this industry. The all food products of these brands are expensive and highly responsible for gaining obesity. It has been analysed that young Indian consumers are highly price sensitive and health conscious. Therefore, the products of Fusion buffets are quite appropriate according to the situation. It will surely get the competitive edge over the other established brands in the market. Figure 4: Variety of regional Indian dishes (Source: Dhaugoda Dang, 2015) Market Analysis Market segment: This business plan will appeal the broad base of audiences in both business communities and the residential people. The selection location is a junction of both. Primarily, Karol Bagh location was chosen for growing number of households and workplace premises. That particular area is highly populated of over 52000 according to the Census Report, 2014. The market study also highlighted that the area is comprised with a mixture of multi-family and single family housing whose average purchasing power is very high. Market Taste: Delhi people are quite nostalgic about the Indian cuisine and love to experiment different flavours from several parts of the India (Kasliwal Agarwal, 2015). However the international food franchises are quite popular but they can also comfortably eat Indian cuisine with their families, and friends (Singh et al. 2015). Market condition: Strengths Low price menu can be possible due to per employee cost is low Less barriers for starting up a food business in India (Hair et al. 2015) Less paper works required for getting food license Government intervention is lower Weaknesses Getting consistent suppliers are very difficult. Foreign franchisees are very popular nowadays in food market (Zannierah Syed Marzuki et al. 2012) Fine dining opportunity is not affordable for all Indian Majority of people still love to eat at home Provide adequate staff training system is missing (Hua et al. 2016) Employing and retaining quality employees are difficult Opportunities Trends related to eating healthier explores many business opportunities Average consumers purchasing power is gaining People gets little time to cook at home Young generation shows their interest to join this industry Huge offer extra catering services Threats: Operating costs gradually increases (Hou Henderson, 2016) Highly competitive Faithful distributors are very rare to find Promotional costs are high Table 9: SWOT Analysis of Indian market condition (Source: created by Author) Market positioning: Majority of consumers believe that meals at home are more hygienic and healthier than eating at restaurants (Appelroth, 2015). In that context, Fusion Buffet is ideal to work on a mission to deliver premier quality products with sophisticated atmosphere. Therefore, Fusion buffet will be positioned as the high standard authenticated Indian cuisine destination. Organisational feasibility A good managerial contribution is required for organisational development (Sahoo 2016). It is an essential part of service industry like food and beverages. Fusion Buffets is trying to establish a self-owned business. Therefore good management control can be expected from the management people of the entity. It is important to pay maximum attention in staff discipline, expert communication skills and offer expertise level of hospitality, customer service along with the food services. Then the service provider will surely achieve a stable internal management system within an organisation. Financial feasibility Pricing option: Most of the food service providers take advantage of fabulous credit terms with their suppliers (Barrows et al. 2016). They also take additional advantages of seasonality for example in local produce items. By this, organisations can easily focus on the controllable expenses of the labour and cost of goods sold. As a new start-up business Fusion Buffets will also control employee by recruiting local employees and local suppliers. The cost related to promotion and advertising can be restricted by using direct mail and mouth publicity strategy. Source of fund: Fusion Buffet is looking forward to submit their business plan to the nationalised bank to obtain a business loan at of Rs 5crores. It has been analysed that bank interest of nationalised bank is provide loan at a low interest rate, compare to other foreign banks (Hou Henderson, 2016). This loan will be used to purchase the restaurant assets and other necessary equipments. The cost of dcor, construction, operational expenses all are required a huge amount investment. A planned start up cost list will be helpful for analyzing the application of such funds: Start up expenses Amount (Rs) Cost of construction Graphic logo and name creation Contingencies Outdoor Sign Building improvements Working capital Pre-opening expenses Total Start-up Expenses Start-up Assets Artwork Walk In Cooler Commercial dishwasher with sink in table Stainless steel freezers (2) 20 blenders Ice maker with storage bin Stainless Steel Hood with Exhaust 3 Door reach in beverage cooler Sandwich Prep Reach Ins (3) Kitchen small wares Six burner Restaurant Range (2) Wood Tables (20) Liquid fire protection system Table cloths, napkins Art, Dcor Cash register +POS system Office Laptop Total Start-up Assets Total required start-up costs 15000000 156000 200000 40000 1000000 10000000 2250000 28646000 55000 25000 85000 120000 75000 40000 105000 100000 35000 27000 140000 525000 65000 19000 105000 90000 54000 1665000 30311000 Table 10: Estimated start-up expense details (Source: Created by Author) The above analysis shows that this food project is completely feasible and market-driven. So the business owners can expect a higher returns in the long run. Business Model The above feasibility research clearly indicates that the proposed business plan of Fusion Buffets is realistic and the goal can be achieved at the specified period. However, the unique business model is required to establish with specifying core business strategy. An essential resource for business sustainability and competitive edge needs to be addressed in a proper manner so that all management people can give their efforts for achieving the business goal (Rothlin McCann, 2016). In this section, each element of the business model is trying to established with its exclusive features. Business drivers Strategic Partners Customer segments Key service offering Value-added Activities Key resources Fusion buffets owner High class business communities, wealthy personalities like movie star, artists Offering fresh and delicious starters and main course menu with ever demanding wide range of drinks such as wine, champagnes, other liquors, Beverages i) Delivery ordered foods and drinks with short span of time ii) Serve high quality customer services by the front staff of Fusion Buffets iii) Wi-Fi network availability, air-conditioned facility, soothing music at the background can be available at customers request iv) Internal bakery system will incorporate into the business so that fresh backed food items can be delivered whenever ordered by customers. i) Good coordination within the front-end and back-end operational team ii) goods external relationships with stakeholders like distributors and suppliers, partners like Coca-Cola, Pepsi iii) full support from the promotional team which will help to establish brand name and get the highest customer response iv) Owners review system to enhance the service of the company with times Suppliers Middle class families, teenagers, High- end single, i) Offering tasty and varieties of regional Indian food items with made some twist and turn by maintain the ethnic feeling. ii) Youth loves to eat international cuisine (Barrows et al. 2016). Therefore, appointed chefs shall be comfortable to do international dishes along with Indian cuisine as well. i) Delicious food deliveries at minimal time with maintain cleanliness ii) Full cooperation from the manager and front-end staff for handling child like to provide perambulator for the convenience of the customers at the time of eating iii) Provide sophisticated atmosphere and well trained employee for customer experiences iv) Premium hygiene maintenance Distributors Couples Offering superior quality foods inspired by regional cuisines from India Cosy comfortable ambiance for highest customer satisfaction Employees and management people Regional and International Tourists, foreigners Offering Chino latino dishes which is a Chinese style of cooking adding some exotic flavors or Indo-latino where a typical herbs are used in preparation of Indian Tandoor dishes. Offering Sushi, Hawaiian and Japanese foods, which are healthy and tasty as well. Fusion buffets is going to introduce a new recipe like the fresh Indian ingredients cooked in Thai style. i) For adding facilities, Fusion Buffets will provide different types of books and International music for getting good response from the tourist and foreigners. Indian music can also be played and extend the Indian cultural heritage. ii) Add some uniqueness in food serving process like introduce a modern bar trills at bar section or dining under the soothing lightings or candles Cost Structure A mixed cost structure will be maintained for handling fixed costs as well as the variable costs like promotional expenses, staff salaries, design costs, repair and maintenance Relationship with customers Building a sustainable relationship by providing comfortable, relaxed, friendly, soothing atmosphere with premium quality services Revenue Streams Fusion Buffet will make its revenue through selling high quality foods and drinks for target audiences. Restaurant has enough floor space for arranging business meetings, family functions and other special events, theme parties. Key partners Fusion Buffet is looking forward to make agreements with indiamart, Flip card, e-bay.com to get kitchen appliances, and other necessary restaurant items so that they can get commission at the time of purchasing. ii)Partnership with Coca cola, Pepsi for delivering soft drinks. Partnership with Liquor manufacturers like Kingfishers, Back pipers are those who will deliver hard drinks on long term basis Table 11: Main business drivers of Fusion Buffets (Source: Created by Author) Core business strategy Selection of business strategy depends on the situation (Burlton, 2015). Here product differentiation strategy would be ideal for Fusion Buffets. The main essence of this business plan is to deliver Indian cuisines at reasonable prices. Therefore, Fusion Buffet can use this strategy to set themselves apart from key competitors. The product differentiation strategy will help to build its brand loyalty (Block et al. 2015). However, the product differentiation is the main strategy; the company should also concentrate the cost leadership strategy, which will enforce to reduce operating costs while charging coverage prices of restaurant industry (Bassi et al. 2015). For cost leadership approach, the products price needs to be checked on daily basis to maintain the price differentiation strategy (Alstete, Beutell, 2016). Generally, a good food at reasonable price is always desirable for customers and Fusion Buffets will implement this in their business model. Figure 5: Product differentiation strategy Source: Ibrahim, A. B. (2015) Core extension strategy Fusion Buffets need to develop its future expansion plan at the backend. Ansoffs matrix model is appropriate for business extension. This model has divided into four parts: product development, market penetration, diversification, and market expansion (Medarac et al. 2015). Figure 6: Ansoffs matrix model of Fusion Buffets (Source: created by Author) Competitive advantages i) Location is critical for success of the business (Krishna, 2014). Therefore, the parking convenience for customers will be taken care of with high priority because, parking-hassle is a common concern nowadays for the customers, especially when they eat put for dinner at the end of workday traffic. ii) A reasonable price structure for each dish will surely attract large number of customers. The management of Fusion Buffets will review their food prices with other existing brands so that the price competitiveness can be maintained. iii) Online food order system will enhance customer convenience. iv) Many of the small restaurants struggled due to lack of suppliers of grocery items (Reay et al. 2015). For these reason, Fusion Buffet tries to contact a large number of substitute suppliers so that customers may not feel compromised anytime. The management will give full concentration towards the highest customer preferences. Essential network establishment A proper network system is required to establish brand awareness (Rothaermel, 2015). Fusion Buffets need to plan promotional and networking strategy well. The company plans to se local radio as one of means for advertising. FM radio has gained huge popularity especially in the entry of the private players (Icmrindia.org 2016). It is also identified that the promotion via radio will be comparatively cost effective rather than television. The company will also try to promote their brand through their website. Nowadays, people like to book their table in advance. Fusion Buffets will also provide online booking system for making the entire system more customised and hassle-free. One favourable aspect of the food business is that once a potential customer steps into the establishment, the chances of purchase are very high (Lane Andersen, 2015). So constant reviewing promotional plan will increase the products attractiveness and brand awareness. Sustainability resources Business sustainability is always desirable factor for any start-up businesses (Hutt Speh, 2012). There are three pillars of sustainability: Economic stability, Social development, Protection of environment (Vignali, 2015). Economic sustainability: Fusion Buffets needs to take consider the Indian economic fluctuation in the product/price market. The operating costs have been increasing which required to be reduced by employee performance efficiency (Sahu, 2015). Once the business starts its operation, Fusion buffets will concentrate to reduce the promotional/advertising costs. The growth of the business indicates stronger operational relationships with its employees and industry people. Therefore, once the company successfully maintain high employee retention process, it will indirectly influence in the industry growth. The increased market share approach is also appropriate for business sustainability is the long run. Social development: Making the entire food processing system healthy and tasty is one of the key motivational factor for Fusion Buffets. The brand is already committed to deliver fresh, healthy Indian dishes. The staffs will be trained for maintain the hygiene and cleanliness. The owner of the Fusion Buffet is also pessimistic about using injurious food items like ajinomoto into their dishes which have huge side-effects (Annambhotla 2015). This social responses will surely help to develop business sustainability (Thai Anh, 2016). Protection of environment: Fusion Buffet is looking forward to save power consumption approaches at their restaurant area (Majumdar et al. 2013). The design team of the Fusion Buffets is going to use a high amount of natural lightening for their decor like use of candles at the fine dining area. The business is committed to prevent the pollution and keep their carbon emission low by the use of improved technological devise for their food processing system. Requirement of resources Primary Activities Secondary Activities i) purchase of raw materials, kitchen appliances, foodstuffs, technological devices (inbound logistics) ii) Font staff attendance for taking orders, serving the ordered foods at a short span of time and collect payments (cash and card) along with service tax and give receipts to customers. After that the cleanliness will also be maintained (operations) iii) Proper IT system use for taking online orders and free delivery service, online purchases (outbound logistics) iv) resource for market expenses, promotional activities, improvised menu, setting promotional events for generate customer responses (marketing) v) Superior customer service with high quality foods (inspired by the taste of India) and drinks at the soothing ambiance (Service) i) Training employees for providing better services ii) Conducting research and collecting feedbacks from potential customers iii) Increase items of foods after getting response of the target customers iv) Technological devise advancements and installation of crime protection system in IT devices v) Repair and maintenance of assets of Fusion Buffets vi) Trying to accept green technologies and recycling waste vii) Import various hard drinks like champagnes, wines for the international clients Table 12: Primary and Secondary Activities of resources (Source: Created by Author) Business Plan Business plan is the written roadmap to achieve Fusion Buffets goal (Ong Yussof, 2015). The future of this dining restaurant is completely depending on this business plan. The systematic approach will be taken for the management of this newly formed business. They are also looking forward to use investment-seeking approach to convey their vision to potential investors, bankers and the appointed management executive as well (McKeever, 2014). Furthermore, Fusion Buffet is also making an effort to attract key employees, deal with suppliers or simply to understand how to make the entire operation successful. Systematic Approach to deliver business plan Milestone (Activities) Star Date End Date i) Interaction with brokers and discussion about the site preferences 1.8.2016 31.8 2016 ii) Site selection 17.8.2016 31.8.2016 iii) Approval of final business location 1.9.2016 2.9.2016 iv) Legal papers proceeding at Karol Bagh Municipality , apply for liquor license 3.9.2016 15.10.2016 v) Financing of investors 1.10.2016 31.12.2017 vi) Engage in partnership deals (contractual) 15.10.2016 31.8.2017 vii) Engage in consultation team for recruitment process 20.10.2016 25.10.2016 viii) Hire recruitment Architect (Contractual) 1.11.2016 3.11.2016 ix) Contact service tax department and getting approval for service operation and received the service tax no for Fusion Buffets and license 1.10.2016 31.10.2016 x) Head Chef selection, Managerial people appointments 15.10.2016 10.11.2016 xi) Employee selection 14.10.2016 31.10.2016 xii) Received final Contractor copy 31.10.2016 1.11.2016 xiii) Hire interior design firm 1.9.2016 4.9.2016 xiv) Hire head kitchen Engineer 5.10.2016 6.10.2016 xv) Construction each kitchen, lounge, Bar areas as per model (after finalizing best tender option) 3.10.2016 31.12.2016 xvi) Restaurant design complete 1.2.2017 28.2.2017 xvii) Interior and Kitchen design complete 5.2.2017 28.2.2017 xviii) Fusion Buffets opening date sent to investors 31.3.2017 1.4.2017 xix) Final decision regarding Menu and Drinks 5.4.2017 10.4.2017 xx) Brand promotion via Radio, leaflets 1.4.2017 ongoing xxi) Media plan review 15.4.2017 Every month on 15th xxii) Approved service license and liquor license 20.4.2017 21.4.2017 xxiii) Corporate Brochure 15.4.2017 16.4.2017 xxiv) Website launch 20.4.2017 22.4.2017 xxv) Start website promotion 22.4.2017 ongoing xxvi) Employee training session 14.4.2017 21.4.2017 xxvii) Open corporate accounts (3) 20.4.2017 21.4.2017 xxviii) Restaurant opening and start operation 1.7.2017 2.7.2017 Table 13: Systematic approach of business plan (Source: Created by Author) Organisational Plan Implementation Fusion Buffet needs to ensure the smoothness dining operations. A full cooperative approach from the management side is highly desirable. The company is mainly looking for the expert level services from the font-end and back-end employees. The management makes sure that the distance of kitchen to restaurant area is minimal so that employees can easily serve the ordered dishes to customers. As per the operational plan, the kitchen section will be divided into four parts: north, south, east, west sections. However, the Chinese and other popular international cuisines will also make available to keep in mind Indian customers (youth-favourable) as well as the international tourists. The organisational structure, which is being approved, is as follows: Figure 7: Organisation Structure (Source: Created by Author) Production Blueprint Figure 8: Production Blueprint (Source: Created by Author) Marketing Implementation Plan Fusion Buffets has now realised that the success of the brand completely depends on unique marketing strategy. The marketing model is previously highlighted what approach they will take to gain the brand awareness (Monteiro, 2013). Initially, they will concentrate the product promotion via radio and through their own website, because it is cost effective and popular as well (Wheelen Hunger, 2012). Once the brand recognised by the target customers, they would try to increase more investment on the promotional activities via television, Hotel and restaurant magazines and online site as well. Therefore, Fusion Buffets will achieve these goals by using the following: Database: Fusion Buffets will begin their campaign by marketing to their existing database of customers. The company will send them personal emails fliers announcing their grand opening . The company will continually update its own database to capture attention of new audiences by providing a fishbowl for business cards in the lobby and offer a weekly or monthly drawing. Loyalty events/ birthday or other ceremonies: Fusion Buffets will offer birthday/ loyalty club proving a complementary starters like Resmi kebab, chicken tikkas, panner pakoras for the birthday person. A current report from the National Restaurant Association of India described how this simple approach could increase revenues as much as 15 percent due to repeat business (Rothlin McCann, 2016). Fusion Buffets will also be active in the local community and the organisation plan to take an active role by donating to sport clubs, under-privileged charitable organisation, local churches in the local area of Karol Bagh. They have additional planning for participating in the cultural/Environmental awareness programs, food events and many more. Fusion Buffets will also strive to develop rapport with local business in the area of central part of Delhi as quick, comfortable lunch choice. In the future, the organisation plan on establishing a marketing campaign to call on the local business in the marketing are, deliver sample menu and encourage them to consider Fusion Buffets as the restaurant of choice for their next business lunch on. Product position plan Figure 9 Hutt, : Product Position Plan (Source:Speh, 2012) The product position plan is indicating the prices of the food products will be moderate since the customers of high profiles will be visiting the restaurant. On the other hand, the product position map is also signifying the good quality of food that can attract more customers (Rothaermel, 2015). Gathering more customers will ensure the enhancement of the business profitability. Sales Plan Sales Strategy While undertaking a skilled process of sales planning, it is important to identify the peak times (Terho et al. 2015). In case of restaurant, the company needs to keep the focus on good crowd. The crowded place is always attracted to the customers and the line should be moving. Another most important aspect is to select the convenient foods, which can satisfy the customers tastes (Navarro, 2015). It is to be indicated that the formulation of a sales plan must contain the process of developing the repetitive business. The regular customers are given the discount coupons, which are quite effective for re-visiting the restaurant. The selection of the menu is also much essential in such cases. Since, the restaurant is focusing on the high profile customers and foods of the moderate prices, the variations will be on regular basis. Moreover, the customer feedback survey will be undertaken before they are leaving the restaurant. The gathering of such feedbacks is essential for streamlining the food to match with the tastes (Shpak Nestor Yu, 2013). Therefore, the local people would be much interested in visiting the restaurants more often. The next segment is to provide the customer good ambience that can be comfortable for them to eat and spend quality time with the family. The restaurant will be including the home delivery services within a selected period of time. Sales Forecast Sales 2016 2017 Breakfast lines 161500 169575 Lunch Lines 130600 137130 Coffee lines 100000 105000 Take-out Dishes 123000 129150 Other 56000 58800 Total Sales 571100 599655 Table 14: Sales forecast Source: Created by Authors Figure 10: Sales Forecast of Fusion Buffet (Source: Created by Author) Total Payroll Plan Personnel Plan 2016 2017 Owner 500000 525000 Counter Clerks 1000000 500000 Bushboys 50000 250000 Kitchen 650000 550000 Total Payroll 2200000 1825000 Table 15: Payroll plan (Source: Created by Author) Budgeted income statement of Fusion Buffet 2016 2017 sales 850000 892500 Direct Cost of Sales 189000 198450 Gross Profit 661000 694050 Gross Margin % 78% 78% Expenses Payroll 236000 245440 Marketing/ Promotion 6000 6240 Depreciation 2500 2600 Music entertainment 3000 3120 Repairs maintenance 5000 5200 Utilities services (gas/electric/water/sewer) 6000 6240 Telephone/Communication expense 500 520 Insurance 12000 12480 Restaurant occupancy cost (Rent) 60000 62400 Printing/Paper/Postage/Subscriptions (deliveries) 2600 2704 Total Operating Expenses 333600 346944 Profit before taxes 327400 347106 Interest expense (8% rate) 72000 74000 Taxes incurred (30%) 98220 103131 Net Profit 157180 169975 Net profit % 18% 19% Table 16: Budgeted Income Statement (Source: Created by Author) Supply Chain Management Plan: Fusion Buffets will purchase its necessary food processing items like kitchen utensils, appliances, stationery items of the bar area from the online store like Indiamart (Indiamart.com, 2016). They will get a discount rate for bulk purchasing. Fusion Buffets will also contact local farmers of Karol Bagh to get fresh vegetables at the lowest prices. It will reduce the transportation costs as well. Communication Plan with Stakeholders: Prime Stakeholders Responsibilities and communication patterns Owners who have the main responsibilities to control over revenue and operational expenses Direct communication with all managerial heads to monitor every part of the business Identifying business problems and find-out remedies as soon as possible Business managers who have full authorisation to take care of daily restaurant operation Making bookings, social networking and business website promotional activities via emails, phones, on-line chats Suppliers who provides raw materials Maintain production control and forwarding reports to owners, managers via email, direct interactions Bank gives the financial strength offering loans and credits Improving cash flow, function of treasury management and enhance continuous funding by arranging meeting with owners of the Fusion Buffets within a monthly interval. 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