Entrepreneurship Case Study Assignment
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Added on 2020-06-04
Entrepreneurship Case Study Assignment
Added on 2020-06-04
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Case Study
Table of ContentsINTRODUCTION...........................................................................................................................11. Justification. ...........................................................................................................................12. Marketing Mix .......................................................................................................................23. Implications of need for Hank and Patty Coffee Shop...........................................................44. Financial Position of coffee shop............................................................................................55. Summary.................................................................................................................................7CONCLUSION ...............................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONAustralia is the most growing country in the world. This country is growing with thepopulation, opportunities and with the economy as well. In Australia, one such commodity whichis growing fastest is coffee. Most of the population love to drink coffee all the times. Thiscountry is perfect to open the shop of coffee. According to the present report based on coffeeshop, people spend huge amount of money on coffee; now, they are spending $4-$5 for one cupof coffee. The project that is undertaken is to open a coffee shop in Australia. 1. Justification. Australia is the developed country. Australian coffee chain is very big. Most of thepopulation love to drink coffee anytime. Coffee lovers drink different flavours of coffee.Therefore, Australia is the preferable city to open the coffee shop nearby the colleges or schoolsor at any crowded place where people can easily go and drink the beverage. Another coffee shopwill open in Australia city to attract number of customers. It is something innovative andattractive through which customer get attracted. Along with rich coffee beans of India, the newcoffee shop is named Marvin and Smith’s. Marvin and Smith’s initial investment of $300,000and rest of the money is taken from the bank(Armstrong, et.al, 2015). Marvin and Smith’s is thenewly coffee shop in the Australia. This new start-up come with their new ideas from which theyattract a coffee lover towards them. Marvin and Smith’s coffee shop needs to adopt somelegislations and ethical rules and regulation so that they can easily run their business without anyrisk(Baker and Haslem, 2015). Coffee culture trend is very famous in Australia. Australia is anation of coffee lovers. On the basis of statistics, Australians spent $773.5 million on coffeebeans as compared to tea. Their culture of coffee is most famous. In Australia, coffee culture wasstarted by European immigrants. Today, coffee culture is become an integral part of theAustralian lifestyle. 80% of population were addicted towards coffee. Apart from this, Marvinand Smith’s has to adopt some ethical fair-trade practices to protect their own business. Ethicalfair-trade practices are important to minimise the uncertainties. Ethical trade was originated inthe 1990s. This act explains the fair behaviour towards the staff and customers. Marvin andSmith’s needs to maintain their coffee shop in terms of safety(Brooks, 2015). Ethical tradeincludes some important key points like, the cited business need to adopt step by stepimprovement in condition of workers, staff etc. Besides this, fair trade practices means Marvinand Smith’s needs to make fair payment with customers or give quality of coffee which is not1
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