Cupcake Shop Free Essays

string(31) " up Ucake bakery successfully\." International University Vietnam Bachelor of Commerce Program ASSIGNMENT COVER PAGE Your assessment will not be accepted unless all fields below are completed Subject Code:| BUSM4092| Subject Name: | Applied Entrepreneurship| Location where you study:| RMIT Vietnam – SGS| Title of Assignment:| Feasibility Analysis| Student name:| Kim Koan DongPham Anh HoaNguyen Phu HaiPham Phuong Nghi| Student Number:| s3324450s3298342s3255278S3269894| Learning Facilitator in charge:| Ms. Agatha Heng| Assignment due date:| 07/09/2012| Date of Submission: | 07/09/2012| Late Submission Approval| | Number of pages including this one: (Please number your pages like this: page 1 of 7, page 2 of 7, etc)| 27| Word Count:(Main Content)| 5,558| EXECUTIVE SUMMARY Having noticed the business opportunity in food, especially in dessert in the Vietnam market, Ucake’s business idea is developed. The purpose of presenting this idea is to help customers embodying their precious message into cake, the requisite item in every celebration. We will write a custom essay sample on Cupcake Shop or any similar topic only for you Order Now This can be regarded our business idea as the current market has not provide it. Investigation revealed that choosing young people 15 to 30 living in Ho Chi Minh City as potential targets in terms of increase in population, GDP and positive behavioral change towards cake. Moreover, market research found that there are competitors with strong brand name and reputation. However Ucake can survive among the opponents with service differentiation focus strategy in which Ucake’s core differentiated service is ‘customer’s self decorated cake’. Ucake provides plain base cake, hygiene environment with fresh and diverse topping, and then customers simply come to shop and decorate their cakes easily and fast with meaningful memory supported by professional advice by Ucake’s chefs. Otherwise, customers can choose cake design from hundreds of models that suit their event. Among the analysis, first five years’ financial statements, showing estimated establishment cost, revenue and expense, are included to verify that Ucake is able to break-even within 3 years. TABLE OF CONTENTS EXECUTIVE SUMMARY2 I. The Business Idea4 1. Opportunity description:4 . Product / service description:4 3. Description of the entrepreneur team:5 II. The Industry and Market6 1. Current Industry Analysis6 2. Market potential Analysis7 3. Competitors Analysis (referred to Appendix 3)8 4. Target market/customers9 5. Market penetration (referred to Appendix 5)10 6. Stakeholder Analysis11 III. Business Model Analysis (referred to Appendix 6)13 1. Revenue sources13 2. Cost drivers13 3. Resource requirements / mapping13 4. Investment size14 5. Critical success factors15 6. Risk analysis and management16 IV. Future Action Plan17 1. Sources of start – up capital17 . Further information needed17 3. Support needed18 REFERENCES19 APPENDICES21 I. The Business Idea 1. Opportunity description: Currently, Vietnamese people are accustomed to Western culture, so they consider cakes not only as desserts or presents for birthday, but also indispensable items in special events such as Christmas or anniversary party. This trend leads to the rapid growth in demands of cakes, especially in holiday period like Christmas (Bao Moi Newspaper, 2009). Not stopping there, people also want to make their cake becomes more momentous to suit the purpose of parties or events. However, there are still no bakeries allowing customers to decorate cakes by themselves. As entrepreneurs, this is a good occasion for Ucake to develop a business idea to create more values and options for customers through its differentiated services. 2. Product / service description: Ucake bakery that has differentiated services will be opened to make customer feel convenient and comfortable, bring more benefit, and satisfy their needs. Two main services will be developed. Firstly, dissimilar cake designs will be updated for customer to choose, and then Ucake’s bakers will make cakes exactly based on design’s offer. Moreover, customers also can prefer their own design for Ucake to implement. Although the design of cakes is sometimes not favored some customers, they still have to buy it as they have fewer choices. This problem can be solved when customers come to Ucake’s store where they have various choices and they can even ask Ucake to make the cake based on their own suggestion. Here at Ucake bakery, it sells not only cakes designed by its’ store, but also cakes customers want to have. Another service is self – decoration, which there are spaces provided for customers, and all necessary equipments are to support them decorating cakes on their own. When using this service type, customers will pay for a plain base cake, toppings, and cream to design the cake; and what is more, they are allowed to try the taste of the cream, toppings before purchasing. To help client’s better understanding of the services, Ucake’s bakers are there and willing to give advice for cake decorates. The cakes can become so consequential for the receiver if people decorate it by themselves. For example, parents will be very surprised and happy if their children decorate a cake as a gift for their wedding anniversary. However, most of Vietnamese people do not have enough necessary equipments or places to decorate a cake. This issue has been recognized, and Ucake wants to generate services that give its buyers chances not only to garnish this kind of desserts but to enjoy the fun and relaxation as well when they come to Ucake. 3. Description of the entrepreneur team: A group four undergraduate students who are taking bachelor degrees in RMIT University are recently having their family businesses run profitably in the Vietnam industry. Having followed different majors with background s of serving business, marketing, design, and especially in the hospitality streams, the team has ambition of launching a bakery locally which is called Ucake. On that account, the team seeks for potential opportunities with creative production to help solving customers’ problem, giving them more benefits, and also generating profits remarkably for their business. In addition, each member has developed a wide spread of professional relationship that would sustain their project in positive aspect and scale through their family’s network and friends. By employing some of members’ real working experiences from their family business and other service firms, the team is expecting use their conditions and supports to start up Ucake bakery successfully. You read "Cupcake Shop" in category "Papers" II. The Industry and Market 1. Current Industry Analysis To improve Ucake’s strategies and support the awareness towards different features affecting its business, Porter’s five forces model is applied for analyzing risks that helps Ucake to control in higher progress in the Vietnam industry. According to Rice (2010), this model contains five typical aspects. 1. 1. Bargaining power of suppliers – Low Within the bakery industry, raw materials are vital factors that contribute to the success of a business leading to high value of products and prestige. Usually, prices of materials like flour, sugar, milk†¦ are depended on the level of quality customers want to aim at. In Vietnam, sources of suppliers for those ingredients are relatively diverse that can be derived from local grocery stores or larger suppliers. Hence, Ucake will have more options choosing dealer that are appropriate for its budget and demand. 1. 2. Bargaining power of buyers – High Nowadays, the Vietnamese people are influenced by Western cultures and tend to go to cake shops as their hobbies, especially on holidays and other events. With many bakeries throughout the country, customers are advantageous to experience excellence and different prices of various bakery shops. Besides, many youths are also interested in making cakes by themselves; as a result, clients have more knowledge of selecting the right cakes which are suitable for their commandment. 1. 3. Threat of new entrants – High Since the regulations and procedures of starting up a bakery in Vietnam are not so complex (Vatgia. om, 2011), which even people with small capitals can also invest on this kind of business, barriers to enter the industry here are not high. Therefore, as a new comer, Ucake faces the threat of self – decoration service imitation from other components, including existing and approaching cake shops. 1. 4. Threat of substitutes – High The level of threat of sub stitutes that Ucake faces is pretty high as there are many different types of food and dessert services developing in Vietnam (VietnamBriefing, 2008), such as ice – cream, yogurt, fast food, Vietnamese sweet soup, etc. Thus, clients have various options of switching to other food once their demand of consuming cakes decreases. 1. 5. Rivalry among existing firms – High At the moment, only in Ho Chi Minh City, there are over 100 bakery stores located widely, and the competition of bakeries are getting more and more intense as many large and small local bakery stores exist in the market (Phan Le, 2012). Furthermore, the local bakeries also have to compete under pressures of investments from some famous foreign bakeries, which might affect customers’ perceptions and operations of local bakeries as well as Ucake. . Market potential Analysis Regarding this area, PEST model is used to examine the environmental part for executive strategies. 2. 6. Political Due to To Loan (2008), food hygiene and safety are some of the biggest issues in Vietnam, and this issue is much cared by the government. Research Center of Business Administration claims that HACCP is the highest international license req uired by the Vietnamese for a firm which wants to operate in food industry. So, Ucake must have HACCP  (Hazard Analysis and Critical Control Points) to meet the Food Safety Law. 2. 7. Economic Ucake will have to take moderate rental costs, so the store’s location does not have to be positioned in the center of Ho Chi Minh City. Due to Diaoconline. com (2012), the cost for a two – floored shop in district 5 is approximately 1,000USD. Cost of facility and equipment for a new venture are paid highly in the first year in terms of the good quality facilities and equipment in order to make customer feel comfortable. However, since they are fixed costs, the venture does not need to pay anymore in next few years, and maintenance costs will be paid less instead. According to VietnamBranding (2008), Vietnamese people refer Western fast food than Vietnamese. 2. 8. Social Dan Tri Newspaper (2012) states that Vietnamese people care and obverse more Western tradition and events (Christmas, mother’s day, Halloween†¦) and considers that cakes are commonly used in many parties and special events. This leads to high demand of cake, and especially during Christmas. Besides, in this century, people do not only want a delicious cake but increasingly care more about nutrition and health issue (Viet Bao Newspaper, 2005). So, if Ucake has HACCP for ensuring the safety of the cakes and researching some of new healthy ingredients, more and more customers will be more attracted. 2. 9. Technology As a small business, high technology is not really fundamental for Ucake. However, Ucake need to have fresh, safe and high quality ingredients. Hence, safe and clean process of making and decorating cakes are highly presented, also the bakery can cooperate with its supplier to do research and development to adjust the amount of sugar and please customers, especially that are fastidious. . Competitors Analysis (referred to Appendix 3) 3. 10. Direct competitors Regarding the direct competitive environment, generally, most of Ucake’s components are other bakeries in Vietnam, which are large local bakeries, small ‘cakes and cafe’ shops, and foreign bakeries. Some of Ucake’s particular competitors consist of Vietnamese ones like Brodard, Givral and Jous Les Jours bakery from overseas. Firstl y, Brodard and Givral bakeries are two of most long time businesses in the Vietnam bakery industry that selling cakes and other breads. Overall, both of them supply cake orders from clients like Ucake; conversely, as their service regards to only takeaway cakes, they do not have self – decorated cake services for buyers. For Tous Les Jours which is a popular chained bakery from Korea that mainly offers clients fresh breads, cakes and other desserts, the chain presently has more than 8 stores allocated in Ho Chi Minh City. Similar to Ucake, Tous Les Jours accommodates consumers with cafe spaces, and also makes cakes through customers’ idea suggestion. Nonetheless, the Korean chain does not have self – decoration cakes and hardly to change to this kind of service while their concept is consistent, and because of their large number of branches. 3. 11. Indirect competitors In this field, as Vietnam’s integration has been widely opened, different investors of foodservice gradually find opportunities in the Vietnam market. As a consequence, Ucake’s indirect competitors are both domestic and foreign foodservice businesses surrounded by the nation. Among those components, Baskin Robbins (ice –cream chains), Yogen Fruz (Yogurt chains) and Lotteria (fast – food chains) are selected to weight against Ucake’s potential. In general, all of those 3 businesses are serving consumption services apart from Ucake, and their statuses are reasonably strong compared to Ucake as a new comer. In addition, none of them contains mutually two kinds of services that Ucake has. For this reason, even though Ucake is totally new and less popular, its operation is not affected much by indirect challengers in terms of this new differentiated variety of service. . Target market/customers (referred to Appendix 4) 4. 12. Geographic According to World Bank (2012), the GDP per capita has been increased significantly since the year of 2000. Among the provinces, Ho Chi Minh City’s population claimed the highest with almost 6,000 people in 2010. Moreover, people’s average income in the northern area is also high, which especi ally in Ho Chi Minh City’s was estimated the greatest with approximately 3,000 USD per year (Hoa Le, 2012) determining higher consumption compared to other regions. Hence, Ho Chi Minh is an ideal location for Ucake to plan for starting up the investment and seek to achieve good profits. 4. 13. Demographic Ucake’s targeted customers are aimed at the ages from 15 to 29 who are mainly teenagers and youths going to work as there are numerous young ages of under 30 that reach more than 50% of the Vietnam population (Nielsen, 2010). 4. 14. Behavioral Those groups of audience above are targeted not only because of their excess in the country population. Typically, a majority of them tends to adapt new updates of trend due to the international integration prospect and influence from other countries’ cultures. Thus, that is one of the reasons why many young Vietnamese people have interests in Western fast food and desserts by the appearance of investments regarding these kinds of food in the Vietnam market. Viet Bao Newspaper (2005) states the progressive encouragement of the Vietnamese of considering hygienic products as their vital priority for consumption in recent decades. For those points, Ucake finds it quite potential with great opportunities to set goals for achieving success through this targeted market. 4. Market penetration (referred to Appendix 5) Since the cake market is already at the maturity stage of the product life cycle, in order to enter the industry; Differentiation Focus Strategy is applied to Ucake. QuickMBA (n. d) says that Differentiation Focus Strategy can help the firm to narrow down to a specific group of customers, and give consumers the best and different services compared to its competitors resulting in retaining customer loyalty. However, there are some limitations with this tactic that Ucake’s service can be imitated or its targeted segment changes consumer needs. Guerilla marketing: Ucake has to do marketing activities strongly in the first year as it is a new and small firm in the market, and guerilla marketing is an ideal tool for new business which has limited marketing budget like Ucake. Some experts (Levinson, Levinson, amp; Levinson 2007) indicate that guerilla marketing is an easy and inexpensive marketing method for small business. Guerilla marketing strategy focuses on low cost, unconventional marketing tactics, and puts more time and effort to achieve maximum result. One week before the opening of the shop, some of refrigerated cabinets made by glass can be placed on public places such as parks or supermarkets. Then Ucake’s big designed cakes are displayed inside to catch people’s attention and trigger their curiosity. The slogan â€Å"Your Cake† will be put on cabinets to introduce Ucake’s business idea to clients. * Additionally, few days before the launching day, the banner of announcing the decoration contest will be also situated near refrigerated cabinets to invite people to participate. The contest will be held during the opening day. Customers can join and buy their cakes with half prices Advertising: advertisements of Ucake’s establishment day will be posted on magazines for youths and teenagers such as Tiep Thi va Gia Dinh and Hoa Hoc Tro. A Facebook page of Ucake will be created as well in order to expand the brand community. Facebook is an ideal place for us to reach large number of potential customers. Ucake’s products and other activities will be informed which are easy for consumers to view wherever they are. This social media tool can draw customers’ interests and Ucake can receive advantages from this marketing effect. 5. Stakeholder Analysis Beside the owners, people that influence the performance and success of Ucake’s business can consist of the customers, supplier and employees. Those important stakeholders are categorized and emphasized in 4 particular aspects in the table below. Stakeholder| Role| Level of effect| Expectation| Supposed risks| Investors| Devoting for the establishment of the business| Moderate| Making decisions in right investing and capitalizing for beneficial profits of the company| Lack of financial sources or bankruptcy would threaten the operation of the business| Customers| Consuming goods and service of the bakery| High| More usage of roducts and services from customers helping the business to gain status and revenue to compete with others| Bad comments from customers affecting the reputation of the business whether quality of goods or services do not satisfy them| Supplier| Supplying raw materials to the client bakery (i. e. flour, sugar, butter, milk, etc. | Moderate| Providing requir ed quality and quantity of materials not only to enhance relationship with customers but also help generating profitable products for customers | Bad quality of raw materials supplied or late delivery time will cause unqualified products or delay in the plan of the business| Employees| Supporting and controlling the operation of the bakery| High| Adding efficient value to the business by applying their trained skills to the service and attending to customers in order to improve the bakery’s performance| Low capability, misbehavior to customers leading to decrease in turnover of the business| III. Business Model Analysis (referred to Appendix 6) 1. Revenue sources The revenue is mainly generated from two items which are customer’s ordered cake and self decorated cakes. Customer’s ordered cake is produced based on the design that customers choose from Ucake’s menu. Therefore, the price of each cake is the revenue varying due to the size and design from 300,000VND to 400,000VND. Customer’s self decorated cake is made through this process, in which Ucake provides a plain base cake and customers decorate the cake by adding toppings and creams according to their preference. The fixed revenue will be sale price of the base cake (150,000VND), and additional revenue is earned by the amount of toppings they supplement which costs 15,000VND per package of one kind of topping. Minimum of 100,000VND of toppings is expected to be just enough for decorating a whole cake nicely. Furthermore, revenue from self – decorated cakes is anticipated to be greater than from ordered cakes. Research result shows that there are no competitors providing this service at the present time. Other revenue is earned by the sale of soft drinks sold for customers in the shop, and one can of the drink costs 15,000VND. As the price is relatively cheaper, it will not be considered as crucial revenue to ensure maintenance of business. 2. Cost drivers Number of consumers or sales of cakes will increase the raw material expense. Ucake only sells cakes, and the expense to satisfy customers’ demand will have the greatest impact on cost structures. Ingredients to bake plain base cake, such as eggs, sugar, butter, milk, salt, flour and cream, must be kept fresh so JIT (Just In Time) strategy will be utilized to decrease inventory costs. Being located nearby Ucake, the supplier (referred to ‘Resources requirements’ part) will conduct prompt delivery at lower costs in daily basis. 3. Resource requirements / mapping In order to offer satisfactory services to customers, raw materials and human resources are decisive in our business. The raw materials mentioned in ‘Cost drivers’ part above will be purchased from Tan Nhat Huong, the only local firm supplying cream, operating in Tan Binh district, Ho Chi Minh City. The quality is as high as other foreign companies’ products. As Ucake and the supplier’s locations are geographically close to each other, Ucake can decrease significant logistic costs. Ucake needs four people to run this business. One professional chef will bake the plain base cake and ordered cake. Two more amateur chefs will work as supportive assistants to help the main chef and to advise customers decorating cake. One person will be hired as receptionist. For this job, as there is no complex calculation involved, a person with no background of accounting can also be recruited. People will be hired from the online labor market (timviecnhanh. com), and Ucake will upload specific requirements of employees and interview the favorite candidates. 4. Investment size The first financial investment must be at least 100,000USD in order to start and operate Ucake for first year. Below is the cost analysis for the first five years after opening Ucake. * Fixed cost Ucake will be opened on Nguyen Trai Street, District 5 by renting a two – floored shop . The rental fee will be 1,000USD per month which will be totally cost 12,000USD for the first year of contract. Also, other costs to operate the business like electricity, water are calculated to be 167USD per month (2,000USD / first year). * Variable cost As the cakes are baked after receiving orders from customers, ingredients are considered as variable costs. All costs related to baking process such as electricity, labor, ingredients are regarded as 100,000VND per cake. Assuming that Ucake produces 3,720 cakes per year, including two types of products based on the revenue analysis, the variable cost will be 20,000USD per year. * Semi variable cost Semi variable costs comprise two expenses: wage and marketing. The wage is for the four employees. The wage amounts for main chef, supportive chefs and receptionist are 200USD, 150USD and 100USD, respectively. In the initial year, monthly wage will be 600USD which adds up to 7,200USD of wage expense for the first year. Ucake will conduct marketing vigorously in the first year to present the differentiated services and gain customers’ awareness. The annual cost is estimated to be 5,000USD. * Non recurring cost Equipments like baking ovens, furniture, and shop renovation costs will be spent before launching Ucake shop. All the equipment costs are calculated approximately 50,000USD. Sum of the first year’s costs are 96,000USD. However, in case of not covering expenses by the revenue, 4,000USD is needed as a back-up fund when Ucake meets unexpected costs. Hence, the first investment cost should be 100,000USD to cover the whole first year and half of second year’s expense. The first investment fund of 100,000USD will be recovered at the end of third quarter in year 2. Even though the price of cake is cheaper than other consumer products like electronic devices or automobiles, huge profit margin of cake will allow the business to step up from survival to growth level. 5. Critical success factors During the investment process, there are two main critical success factors of sustaining Ucake’s operations. First of all, one of the most vital elements for a bakery to accomplish is the role of the head baker. A head baker needs to have long time experience in baking and decorating cakes. Yet, this is still not enough. Cakes are quite attractive to many people, but customers have begun fussier about this kind of desserts over time due to changes of their perceptions about nutrition and safety of goods (Viet Bao Newspaper, 2005); thus, the head baker has to update consumer’s behaviors and apply ethods that are adequate with their demands. For instance, he can use fresh cream instead of butter cream to reduce the fat of the cake’s topping cream for making buyers more secure as regards their health. In addition, he is in charge of planning and estimating the number of sellable cakes per day to verify profits for the bakery also encourages products sold within 24 h ours upon baking and avoids surplus of stock. Another critical success factor of Ucake is the quality of customer services. As a bakery providing self – decorated cakes, in order to serve the customer’s needs, it is significant to hire a group of staffs that meet the working standard for this new type of service. Basically, the staffs need to have limited knowledge about cake’s basis and skills of decorating cakes for instruction whether their buyers cannot garnish themselves or need assistants. Besides, they are to support customers in providing them options of cake toppings shapes for their self – decorated cakes, directing them to park vehicles, and make the shop atmosphere hygienic and convenient for them. With those points, Ucake can expect to match the criterions of services and keep its customers satisfied. 6. Risk analysis and management Among the risks, some distinguishing points strongly affect Ucake’s enlargement that need to be aware and administrated in terms of its business conception. The first threat that Ucake might face is that the idea of customer self – decoration services can be imitated by others which is estimated with high chance. As being appeared at the maturity stage, products of Ucake are common in the industry, except that its services are developed to a different standard and have never been applied by other competitors. Nevertheless, although self – decoration is new and unique compared to others, this concept does not require so many sophisticated progressions to implement the services; in consequence, other bakeries, including existing and potential ones, can easily reproduce Ucake or create similar serving styles even if Ucake tries to protect its company via Intellectual Property Rights registration. Copying service is an unavoidable problem to Ucake; still, Ucake would be the pioneer in applying self – decorated cakes for clients in the market, so it is an extremely cautious period for Ucake to deliberate its growth as well as gaining customer loyalty by performing satisfactory products and services once it is first publicized. Additionally, the moderate possibility of employees’ misbehaviors to customers throughout their serving mission might occur. During the business, employees have high responsibilities in making clients feel worthy with what they pay for the services and want to return to Ucake again. On the other hand, employees are sometimes negative effects of discouraging customers of using services due to their slow serving or bad attitudes, and this would be very dangerous for the bakery because customers have diverse options of bakeries to prefer. As a consequence, Ucake needs to spend a period of time training the employees carefully with some particular rules of the bakery before the store’s launch to look forward to attaining effective services satisfying its consumers. What is more, employees should be praised with rewards or other incentives whether they do their job well in order to increase their productivity in addition to Ucake’s efficient services. IV. Future Action Plan 1. Sources of start – up capital Ucake is a relatively small size in aspects of budget, establishment cost and labor wage. The business model analysis shows that Ucake requires at least 100,000USD as set up cost. There are three possible financial sources to raise the fund. * Angel investment: Ucake will open a business plan presentation to potential angel investors to persuade them that it is a feasible business. Angel investors will receive corresponding amount of return related to their investment size. * Loan from bank: Banks allow the Vietnamese to receive loan if credibility is guaranteed. Ucake will summit five years of financial budget and business plan to convince that Ucake is a trustable business. 50,000USD is the amount Ucake plans to receive from the bank as a loan. * Financial supports from acquaintance: four owners of the business are running their own family business and being successful. Ucake can be financially supported by their families. . Further information needed Ucake lacks legal knowledge about food market. As a result, the future operation of the bakery must be checked and advised by a law firm called TopicLaw. TopicLaw will support by providing standard of food and necessary licenses for Ucake to run the bakery such as sanitation of bakery, safety of equipments. Also, as Ucake’s business idea is very easy to be copied, it should contact with consulting firm to protect the Intellectual Property Rights. The consultation will be about patent registration. The Target market analysis shows that the targeted market is quite potential. However, Ucake must implement further surveys before opening to identify what kind of toppings and decoration style that the target market prefers. It is vital to run regular survey on customers’ feedback and preference after setting up Ucake in order to maintain competitive advantages in such dynamic food market. 3. Support needed Due to the fact that parents of the four Ucake’s owners are successfully running family business overcoming economic crisis, they can be consultants of Ucake. External environments cannot be consistent as Ucake assume. Therefore, their parents may recommend direction of future operation and performance of Ucake. Excluding law firm and consulting firm which was mentioned in ‘further information needed’ section above, Ucake is looking forward to surviving and growing in the target market without further outside supports. 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VietnamBranding 2008, ‘Fast food Viet – bao gio? ’, VietnamBranding, 25 June, viewed 20 April 2012, ;lt;http://www. vietnambranding. com/thong-tin/phong-su- thuong-hieu/4610/Fast-food-Viet—bao-giogt; World Bank 2012, ‘Vietnam GPD per capita’, TradingEconomics, viewed 12th August 2012, http://www. radingeconomics. com/vietnam/gdp-per-capita APPENDICES Appendix 1: Service Prototypes 1. Cakes baked and cream frosted by Ucake’s chefs. 2. Ucake provides options of toppings for customers. 3. Customers choose favorite toppings and pay at the counter. 4. Cakes and toppings are brought at customers’ tables. 5. Customers decorate cakes on their own or with the assistance of Ucake’s staffs. Appendix 2: Ucake staffs’ job description Staff| Function| Head chef| The person who has long time knowledge and experience of working in the bakery industry. Typically, he holds good recipes of cakes and manages every baking step to ensure the cakes look stunning and tasty. | Supportive chefs| These chefs can be amateur and to assist the head chef in doing the baking process and help instructing customers towards self – decoration services. They also direct customers in decorating cakes whether customers suggest. | Receptionist| Has a responsibility of managing the quantity of toppings, charging bills of customers and reporting the revenue daily to owners. | Appendix 3: Direct and Indirect competitors analysis 3. 1. Direct competitors How to cite Cupcake Shop, Papers

Parkinsons Disease Essay Example For Students

Parkinsons Disease Essay Diseases are sometimes extremely devastating and cruel. Some diseases move veryrapidly while others are slow and painful. Treatments are sometimes useful yetother times nothing can stop the silent beasts that lurk in the body. Parkinsons disease is a slow moving disease that slowly corrupts the brain. Parkinsons disease (PD) is a chronic motor disorder that causes tremors,rigidity, slowed body movements, unstable posture and abnormal gait. Thishappens when neurons, nerve cells, in a part or the brain called the substantialnigra gradually die. These cells normally produce dopamine, a chemical thathelps relay messages between areas of the brain that control body movement. Thedeath of the cells leads to abnormal low levels of dopamine, and causesdifficulty in controlling muscle tension and muscle movement both at rest andduring periods of activity. PD as of now affects about 500,000 Americans, withabout 50,000 new cases diagnosed each year. It is generally a disease thataffects people of late or middle age at about age 60 however about 5 percent ofpatients have early-onset PD and are younger than 40 years old when symptomsbegin. PD is slightly more common in men then women. So far scientists have notdetermined the reason why some people develop PD and others do not. Some expertsblame a process called oxidation. During oxidation unstable molecules that areproduced in the brain as a result of its normal chemical reactions whichultimately damage the brain. Another theory suggests that the effects of toxicaffects of drugs may cause PD. Additional evidence suggests that PD may berelated to environmental toxins especially because some claim that they havefound rates of PD that are higher in rural areas where farming is intense andresidents drink well water. So far PD has not been linked to geneticabnormality. PD usually begins as a slight tremor of a hand arm or leg. Thetremors usually affect a limb at rest but it also may occur when it is in use.

Future of the Retail Store for Google and Wal- Mart- myassignmenthelp

Question: Discuss about theFuture of the Retail Store for Google and Wal- Mart. Answer: Introduction There are various innovations that retailers have adopted on large extent. Social as well as mobile innovations are significantly changing buyers' shopping propensities and desires, and this changing progress is noteworthy. As we know that today's economy is very much struggling, the online shopping has been raised to 15%, which is growing every year. This type of change enables online retailers as well as consumer, who appreciate these type of financial and strategic points over shopping center stores. Online shopping provides less prices and tax reduction that empower online dealers to offer infrequently essentially diminished costs on everything from attire to device. I will take the case of biggest Wal-Mart chain. (Wiefel, M., 2015). Example of Wal-Mart As we know that Google and Wal-Mart are the biggest names that have joined their forces in order to place Wal-Mart's online market place which is known as Google Express. (Marah, K., 2017). Walmart is getting into another era of retail by having its association with technology. The organization is developing its online retail business that has increased its administrations to 14 extra markets. The store has made its accessibility of online grocery upto 200 stores. Now this organization is building up its drone services, which is proposed to supplant the occupations of stock quality confirmation workers at huge dissemination centers. Walmart is keeping itself in front of changes by giving the best costs and extraordinary stock, while sparing clients time and making a quick, simple and pleasant shopping knowledge. Computerized perpetual shopping, robotized picking machines in retail stores to have online requests, pickup points in the parking areas, mechanical technology as well as ana lyzing image to scan for thing accessibility and rack introduction and machine learning and further developed calculations in valuing frameworks. (Ark, F., 2017). Better Decision Making Power The technical revolution is the main advantage in the field of retailing that is also advantageous to the stores management as well as retailers. Eg: the new technology influence consumers for taking better decisions, to concentrate on and valuable offers, and get fast services. It likewise influence retailers in coming to suitable consumers at minimum expenses. It helps Walmart to minimize the wait time i.e from 4 min to few sec. This can enable retailers to focus on perfect customers; it also empowers consumers to make better decisions about which items or the service to devour. These decisions are unconstrained, delivered rapidly by having online shopping. The consumer helps to provide retailer an amplitude of unique information, counting some value-based information like expenses, amount acquired, and shopping wicker container creation. At the same time, it also provides purchaser information like gender, age, family etc. Retailers can have powerful experiences from these type of data and it can help to have expectations for the buyer behavior, outline better offers, can concentrate on their clients, and can have some imaging options that influence shoppers to make buy decisions that support their items. Subsequently, large data can have valuable, patterned procedures of customer engagement that prompt improved the advantages. These type of advancements enable customers to make better judgment, with minimum time pressure, helps to boost the confidence with 100% satisfaction. Retailers thus require to have these new and developing advances to make their clients engaged by having very simple lives. (Grewal, D. Roggeveen, A., L., 2017). References Ark, F. (2017). Walmart CEO McMillon Outlines Vision for Future of Shopping at Annual Shareholders Meeting. [Online] Available at - https://news.walmart.com/2017/06/02/walmart-ceo-mcmillon-outlines-vision-for-future-of-shopping-at-annual-shareholders-meeting (Retrieved on 22nd Sept 2017) Grewal, D. Roggeveen, A., L. (2017). The Future of Retailing. Journal of Retailing 93 (1, 2017) 16. [Online] Available at - https://ac.els-cdn.com/S0022435916300872/1-s2.0-S0022435916300872-main.pdf?_tid=e5576cac-a002-11e7-bf93-00000aab0f27acdnat=1506132177_abb9931bb798f58ac5a010b7a9361405 (Retrieved on 22nd Sept 2017) Marah, K. (2017). Google/Walmart: The Brutal Future Of Retail Supply Chains. [Online] Available at - https://www.forbes.com/sites/kevinomarah/2017/08/24/googlewalmart-the-brutal-future-of-retail-supply-chains/#202798de1921 (Retrieved on 22nd Sept 2017) Wiefel, M. (2015). Digitalization: The impact on traditional retail and the future model of multichannel. International Journal of Scientific and Research Publications, Volume 5, Issue 3, March 2015. [Online] Available at - https://www.ijsrp.org/research-paper-0315/ijsrp-p3981.pdf. (Retrieved on 22nd Sept 2017)

Zuni Indian Mythology Essay Example For Students

Zuni Indian Mythology Essay Hundreds of years ago the Zuni people created and told stories of humanand world creations, tales of love and lust, and just about anythingthat gave people an explanation for something they could notunderstand (Gaarder 25). They made up all these legends or mythsbefore there was anything called science. The stories came from theheart and soul of these native people. Legends are not just sillystories that were told for amusement they are like magic lenses, theyallow us to have a glimpse of social orders and the daily life of howthe Indians interpreted things long ago. One legend of the Zuni tribetells the tale of the sun and the moon and how these two heavenly bodiescame into being. The legend is called Coyote Steals the Sun and Moon.The story begins when an out of luck Coyote can never seem to killanything. He watches Eagle catch rabbit after rabbit with all theease. He decides to go to Eagle with a proposition. Coyote told Eaglethat they should hunt together, Eagle accepts, so they begin to hunt inpartnership. Still all Coyote catches is just a couple of grubs, whileEagle is far ahead with many rabbits. At the time the world was stilldark, the sun and moon had not been placed into the sky yet. So coyoteblamed his hunting problems on the fact that he could not see and eagleif he knew where they could find light. Eagle was not really sure, buthe figured it was somewhere on the west. So they set out to find it. They soon came to the Kachinas village, where the villagers were busilygoing all out in their sacred dances. The Kachinas invited Coyote andEagle to rest and have a bite to eat while they continued to dance. Eagle observed the people and could sense all the power they bestowedwithin. He began to wonder if they were the ones who had control of thelight. Coyote pointed to two boxes, a large one and a small one. Theynoticed that when the people wanted light they opened the lids of theboxes. In the smaller box was the moon, it contained little light. Inthe lar ger one was the sun and it gave off a lot of light. Coyote toldEagle that they should go and steal the big box. So when all theKachinas went home to sleep, Eagle put both the sun and the moon intoone box and flew off. After a while Coyote wanted to carry the boxthinking that Eagle might be hiding something from him. He pestered andpestered Eagle till he could not take it anymore and Eagle let him holdthe box. Coyote promised not to open the box, but after a while, hewanted to know what the light looked like. So he took a peek. All atonce the sun and the moon came escaping out of the box. The moon causedall the plants to shrivel up and turn brown. Then all the leaves felloff the trees and it became winter. As he was trying to catch the moon,the sun drifted away and all the fruits shriveled up in the cold. Eagleturned to see what was keeping Coyote. When he saw what Coyote had donehe scolded him and blamed him for the reason coldness came to theworld. If it were not for Coyotes curios ity and mischief making, wewould not have winter; we could enjoy summer all the time (Erdoes andOrtiz 142). We will write a custom essay on Zuni Indian Mythology specifically for you for only $16.38 $13.9/page .u9591f88ee6d9ae9012c38f0be51e66fd , .u9591f88ee6d9ae9012c38f0be51e66fd .postImageUrl , .u9591f88ee6d9ae9012c38f0be51e66fd .centered-text-area { min-height: 80px; position: relative; } .u9591f88ee6d9ae9012c38f0be51e66fd , .u9591f88ee6d9ae9012c38f0be51e66fd:hover , .u9591f88ee6d9ae9012c38f0be51e66fd:visited , .u9591f88ee6d9ae9012c38f0be51e66fd:active { border:0!important; } .u9591f88ee6d9ae9012c38f0be51e66fd .clearfix:after { content: ""; display: table; clear: both; } .u9591f88ee6d9ae9012c38f0be51e66fd { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9591f88ee6d9ae9012c38f0be51e66fd:active , .u9591f88ee6d9ae9012c38f0be51e66fd:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9591f88ee6d9ae9012c38f0be51e66fd .centered-text-area { width: 100%; position: relative ; } .u9591f88ee6d9ae9012c38f0be51e66fd .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9591f88ee6d9ae9012c38f0be51e66fd .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9591f88ee6d9ae9012c38f0be51e66fd .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9591f88ee6d9ae9012c38f0be51e66fd:hover .ctaButton { background-color: #34495E!important; } .u9591f88ee6d9ae9012c38f0be51e66fd .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9591f88ee6d9ae9012c38f0be51e66fd .u9591f88ee6d9ae9012c38f0be51e66fd-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9591f88ee6d9ae9012c38f0be51e66fd:after { content: ""; display: block; clear: both; } READ: Stem Cell Debate Essay Order now In this Native American legend the sun and the moon represent the dayand night. Thus, they are metaphorically associated with summer andwinter.When Coyote releases the moon he brings death and desolationto the world. The sun, the father of light who begets all livingthings upon mother earth, the illuminator of the primordial darkness, islife giver as well as destroyer (Erdoes and Ortiz 127). By doing thishe completely disrupts the seasonal cycle by interfering with theheavenly process. At the time, to the Zuni, the Kachinas weredemi-gods. They regularly visited the pueblos and establishedelaborate rituals that included festive dances for the people(Erdoesand Ortiz 143). Yet, though the Eagle trusted the Coyote and showed theCoyote he did by allowing him to carry the boxes, even though he knewhow sneaky he was. But to the Coyote that was not enough, he wantedmore. In a way, he had to have the last word.

History Of Defining Sustainable Tourism Tourism Essay Example

History Of Defining Sustainable Tourism Tourism Essay Example History Of Defining Sustainable Tourism Tourism Essay History Of Defining Sustainable Tourism Tourism Essay Tourism has been one of the economic success narratives of the last 40 old ages. It has grown into a major constituent of the universe economic system and one of the most extremely developed and dynamic industries with an of import part to incomes and employment. Tourism has been quickly turning sector and a wide-sweeping socioeconomic phenomenon with wide economic, societal, cultural and environmental effects. It is likely that touristry will go on to rule the international scene for many old ages to come. ( Sharma, 2001 ) The environment is likely one of the most of import subscribers to the desirableness and attraction of a finish. Scenic site, conformable climes and alone landscape characteristics have an of import influence in touristry development and the spacial distribution of tourer motions. Apart from environment, the other of import tourer puller is civilization in all its diverseness across continents. Cultural touristry has long existed, but recent demographic, societal, and cultural alterations in the chief beginning states have led to an increasing figure of new niche markets in finish states, including culture-oriented vacations. However, like other signifiers of development, touristry has besides contributed to its portion of jobs, such as societal break, loss of cultural heritage, economic dependance and ecological debasement. ( UNEP, WTO, 2005 ) . Learning about the brunt of touristry has led many tourers to seek more painstaking vacations. These incorporate assorted signifiers of sustainable touristry such as: nature-based touristry , ecotourism and cultural touristry . The major jobs arise because the environment ( at least in the short term ) is a nothing priced public good and as with any zero-priced good, is capable to extra demand and over-utilization. This over-utilization of the natural resources and development of cultural heritage particularly during the peak periods of tourer activity every bit good as frequently sick planned touristry development, have provided a figure of illustrations where touristry is in struggle with the environment ( Coccossis, Parpairis, 1995 ) . Not merely that, as a consequence of environmental consciousness, a great figure of alternate signifiers of touristry been developed in the last decennary. Sustainable Tourism promotes limited-scale, low-impact, community-based activities. It may be defined as touristry that gives accent to the contact and apprehension between the hosts and the tourer, every bit good as the environment ( Smith A ; Eadington, 1992 ) or as touristry consistent with the natural, societal and community values and that allows a positive relationship among locals and tourers . ( Wearing A ; Neil, 1999 ) . Sustainable environment requires sustainable design. Architecture and design can continue the memorable and old memorials while it can besides make new and attractive qualities in which people can utilize and bask. Architecture has the endowment of specifying infinites and therefore has a powerful influence on the human behavior and apprehension and this is precisely what is ever taken into history in sustainability, maximising economic benefit and continuing the ecosystem. But what should be the attack to this design to accomplish all ends of sustainable touristry or instead what are the tools and rules of architecture that need to be adopted to encompass sustainable touristry demand to be developed. Thus the inquiry to be answered is: What should be the architectural attack for sustainable touristry? Specifying Sustainable Tourism Sustainable touristry is frequently considered to be a particular sort of touristry that entreaties to a peculiar market niche that is sensitive to environmental and societal impacts. This is a narrow position as sustainable touristry is much more than a discreet or particular signifier of touristry. The term sustainable touristry refers to a cardinal aim to do all touristry more sustainable. It is a continual procedure of betterment, one which applies every bit to touristry in metropoliss, resorts, rural and coastal countries, hills and protected countries. It should be thought of as a status of touristry, non a type of touristry. Sustainable touristry is based on the three pillars of sustainability ( economic, societal and environmental ) and is merely defined by the World Tourism Organization as: Tourism that takes full history of its current and future economic, societal, and environmental impacts, turn toing the demands of visitants, the industry, the environment and host comm unities. ( WTO, 2005 ) Sustainability is a procedure and non an terminal province. The built environment and Tourism Tourism has an inauspicious consequence on built environment. It could be on architectural facade, alteration of landuse, overburdening of substructure etc. Large scale building of tourer installations and other substructure tends to alter the land usage of an country and besides upset the natural ecological harmoniousness of a finish. Besides touristry brings alterations to the common engineering and sometimes the traditional buildings merely vanish giving manner to modern building which is most of the clip non following and rules of sustainability. Alternatively they create injury to the finish, finally losing the character, being environmentally upseting and non suited to the demands apart from commercial facet. Some of the other impacts of touristry on built environment and architecture of a topographic point are: over-intensive urbanisation, illegal buildings, pollution, negative aesthetic alterations, debasement of quality etc. Need Designation Tourism now accounts for 10 % of the universe s economic activity but at the same clip it has major impacts on the natural and reinforced environments and every bit good as on well being and civilizations of host population. Ecological, societal and economic sustainability are intertwined. Tourism and architecture may be connected to the benefit of the two and finally to the benefit of the people. There has been merely a really small research on the function of architecture and the attack that should be followed when aiming sustainable touristry. Since edifice activities like building of hotels, invitee houses, tourer Centres, commercial Centres etc rule the development of touristry at any topographic point, there is a demand to develop an attack and policy on architectural developments as portion of sustainable touristry. This job is of cardinal importance as it has led to the absence of an equal theoretical foundation for understanding the kineticss of alternate touristry and the societal activities it involves and reacting to it consequently. Sustainable design and planning do non endanger the economical benefits that a healthy touristry industry can convey ; on the contrary, they can heighten local distinctive features and do usage of traditional cognition and expertness. Where sustainable methods and stuffs are employed, edifices can be both ecologically and economically profitable, thanks to their lower building and life rhythm costs. This thesis will be a little attempt in the same way. Scope Sustainability does non necessitate a lessened quality of life, but it does necessitate a alteration in mentality and values toward a less consumptive life style. These alterations must encompass planetary mutuality, environmental stewardship, societal duty and economic viability. Assorted authorities organic structures, international organisations and conventions have stated the importance of touristry and its sustainability. Many states every bit good wish to or hold already initiated the chase to policies of sustainable touristry . In fact one of the most of import issues in sustainable development of touristry resources is the consideration and enlargement of design and building criterions in order to make an optimal usage of energy, H2O and land resources. The range of the survey will be to understand sustainable touristry and its signifiers maintaining in head the delicate finishs specially, be it in footings of their ecosystem, cultural heritage or economic stableness and province rules that should regulate the architectural design and planning of the touristry substructure maintaining in head sustainability as defined above. To put down the architectural moralss in planning and designing of tourer demands like hotels, invitee houses, activity Centres etc suited to the ecosystem, society and economic system. The survey will concentrate on the delicate finishs since there is more need at that place but the applications will be in general universal. The range of research is in guidelines published by international organic structures maintaining in head Indian finishs. Restrictions The instance surveies where sustainable touristry developments have been implemented will non be accessible physically and the research will hold to depend on secondary beginnings of informations. The primary instance survey will be covering a finish which is delicate ecologically, culturally and economically. It might non be possible to do multiple visits and at the same clip while making the study the deficiency of academic cognition sing the topic amongst hosts could take it adrift. None of the tourer finishs in India has adopted sustainable touristry as a whole. Few resorts, vicinities etc have adopted sustainability within them. Sustainable touristry is a comparatively new term ; the research on it will be limited to informations over the past 3o old ages merely. Since the range has to be limited the research will concentrate peculiarly on function of architecture in sustainable touristry and non other agencies of accomplishing it. When explicating the study questionnaire, the deficiency of cognition about sustainable touristry might take to indirect framing of inquiries. Besides people will hold to be relied upon for being honest which might non be the instance for all. 1.7 Mentions and Bibliography Mentions Khaksar, A. , Tahmouri, A. , Hoseinrazavi, S. , 2001, The Reciprocal Effects Of Architecture And Tourism: The Sustainability Approach, Allameh Tabatabai University, Tehran, Iran Sharma, K. , 2011, Sustainable Tourism Development Through Sustainable Architecture: A Projected Case Study of Cox s Bazaar, Bangladesh. Master s thesis, University of Huddersfield UNEP and WTO, 2005, Making Tourism More sustainable: A usher for policy shapers

Financial Accounting Essay Example | Topics and Well Written Essays - 1250 words

Financial Accounting - Essay Example Further analysis shows that not only the Gross Margins have gone up by 1.73%, but there is huge decrease in operating expenses by 6.18% of revenue in 2005 comparing 2004.This efficiency in operating activities has been attained because of under noted contribution: The other contributor to increase in net margins is the ‘other incomes’ by 0.49%; whereas provision for taxation has snatched 2.16% of net margins. A summary showing various effects on net margin is drawn as under: Total stockholders equity has increased by $2390m, mainly because of increase in 2005 retained earnings by 1.58% as compared to 2004. There is no preferred capital and the entire equity belongs to common stockholders. The increase in stockholders equity is not as high as in increase in the net income. In nutshell, contribution of the increase in net income played the major role resulting into tremendous hike in ROE for 2005. The increases in sales and efficiency shown in the reduction of operating costs have caused a double effect in boosting the net earnings. Though total stockholders’ equity also rose in 2005 but this high was mainly caused by increase in retained earnings affected by net earning increase, maintaining the major effect resulting into increased net earnings on ROE At present The Financial Accounting Standard Board (FASB) is the body that formally issues accounting pronouncements in US. In fact FASB replaced Accounting Principal Board (APB) as the primary private body setting accounting standards for US; and in 1973 FASB formally succeeded American Institute of Certified Public Accountants (AICPA) as accounting standard body. The GASB is the other body setting accounting standards for states and municipal entities. Auditing Standard Board of AICPA issued SAS 91, which in fact formally recognized FASB pronouncements within auditing standards structures. FASB issues Statement of Financial

Discussion board Essay Example | Topics and Well Written Essays - 500 words

Discussion board - Essay Example Younger children might have suggested the best place for the third eye was the forehead, since they might not understand more abstract concepts other than current, real-life eye placement. The subject solved the problem with theoretical reasoning and provided a less tangible placement for the third eye that took into consideration the objective of the new third eye rather than simple function as a seeing tool. Piaget would likely reinforce that people in this stage of development would come up with unique solutions in this hypothetical situation without resorting to only obvious outcomes. Adults may not always reason according to Piaget’s theory due to many different factors, one of which is cultural beliefs that either promote or support abstract thinking. For example, family influence in a more docile and less motivated family structure might not have the same support network for education and creativity as other people. Social influence is important in human development. Ye s, ASU has helped in this effort. ASU challenges students to excel in learning and also to become motivated to consider alternative possibilities to unique problems. The college focuses on theoretical concepts that challenge more conceptual solutions to real-life problems in many classroom teachings.