Managing Enterprise in the 21st Century - Business Plan for Sips and Bites

This report discusses the business plan for Sips and Bites, an organic coffee, sandwich and juice shop. It covers their mission, vision, structure, STP, management process, finance, 7 P's marketing mix, SWOT and PESTLE analysis. The report also includes information on legal compliances, market planning, target market, market research, sales targets and objectives, and market competitors.

Enterprise in the 21st
Century

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Company Description Mission and Vision..................................................................................3
Structure of business....................................................................................................................3
STP..............................................................................................................................................5
Product or service description.....................................................................................................5
Management Process / Finance...................................................................................................6
7 P’s Marketing Mix....................................................................................................................6
Other Management Process.........................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
This report will relate to the business plan. The name of the business is Sips and Bites that refers
to the organic coffee, sandwiches and juices. The marketing arrangement that are utilised by
organisation process and other legal compliances that are essential to start a company are
followed in the report (Lamberti, and Grant, 2021). As the description of business, structure,
product and service description with SWOT and PESTLE analysis of the new business are also
discussed.
TASK
Company Description Mission and Vision
It is measured that the business is managing their sections that offers organic coffee, sandwiches
in several flavoured to their consumers and also provide juices to their fitness conscious
consumers. In the present environment of business, higher demands of organic food and diet
conscious drinks encourage the encourage them to start company in respect to cover wider part
of market share. As the management offers foods and drinks with significant ingredients that
offers freshness in the mood of their customer (Liaros, 2021). The development of goods in
targeted market place is the component that encourages the entrepreneur to promote their
company in the field of market. The management will also have its global presence on digital
media and as well as on social media.
Vision: - The vision of “Sips and Bites” is -
“To introduce the goods and offers best value and qualitative standard of products to their
consumers.”
Mission - The mission of ““Sips and Bites” is -
“To examine the current trend in market place and serve consumer's effectively.”
Structure of business
 Legal Compliances - As it is essential to note that the company should deal with all the
laws by which they can start the management as effectively. At First, the company have
to register their management. There is also requirement of vendor's licence to open a cafe.
As there are four fundamental factors that are essential at the time of opening food and
beverage business that is customer preferences, quality of food, hospitality services and
accommodation facilities. As it also significant for these management to offers all the

information with qualitative sections. Such details are needed to ignore the legal
problems that might frequently raise.
 Market Planning - It is important to introduce the plan as it supports them in offering
guidance to the management. It has been examined that the consumer consumer higher
time on social media and digital media (Mithi, and Govender, 2021). Hence, the “Sips
and Bites” will utilise both social and as well as digital media platforms to reach more
consumers and promote their brand.
 Target Market - The consumer of age group of 14 to 40 are target orientated customers.
As they hold their interest in order to buy organic foods and juice. The desires and
requirements of their potential consumers will be examined on constant basis so as to
bring invention.
 Market Research - Market research supports them to understand about the current
situation of the market place. As it is essential to examine the needs of the customers. The
present trend can be examined by efficient market research. “Sips and Bites” will execute
strong research group that will collect the feedback from their visitors and then execute
their further products. The management will also determine the challengers in the field of
market place and try to offers an effective output to their customers.
 Sales Target and Objectives - The business aims to increase their sales by 20 per cent as
by attaining breakeven point.
 Sales Forecasts - The computation of sales will be approximately 360 £
 Marketing Strategy - “Sips and Bites” will offers points to their consumer that might be
in terms of their following buying level (OFFEM, and ANASHIE, 2021). The marketing
tactics will support in organising events through which their visitors will come again to
increase their sales of the management.
 Market Situation – In analysing trend business develops opportunities by following the
current market tendencies in terms of economic, social, technological components.
Management examine the market situation and then take decision as per to it. As the
market situation also supports them in determining current issues of customers and bring
creative changes to overcome it.
 Market Competitors – As there are several small organisations that have started food
and beverages in the London. The major challengers are Food Pie, Macrons and so on. As

on the other hand, effective brands who have high reputation in market place are also
challenger of “Sip and Bites”.
 Market Needs - It is essential to examine the desires and requirements of consumers in
the field of market place. It has been seen that the individuals are excited to buy organic
food and drinks. As it is essential to conduct suitable investigation that will supports them
to examine the requirements of consumers. It supports to offers particular products to
their consumers (Scarlet-Ritter, 2021). As there are requirements of creation and up
gradation of goods in the market place of United Kingdom.
STP Segmentation - Segmentation is termed as the procedure of separating global field of
market into sub segments as per to the basis of traits, aspects and preferences. The
management of “Sips and Bites”” utilise demographic segmentation tactics to separate
out the market place. Targeting - Targeting is the procedure that will focuses on certain segmentation to offers
goods and facilities. “Sips and Bites” targets the individual age among 14 to 40
individual who like to have organic food and individuals who are health consciousness in
the field of market place.
 Positioning - “Sips and Bites” manage its strong an effective brand goodwill in the mind-
set of consumer by offering qualitative goods at reasonable cost. The management
promotes several events to spread the awareness in terms of their enjoyment.
Product or service description
Product or service of Sips and Bites - Sips and Bites management offers organic food
and drink with having quality of food items (Çora, and Mikail, 2021). The food and drinking
products will sale in the packaging of green colour that can have all the suitable data about the
products. And on the other side, there are open food products that are offered by management
through dine in and take away medium. Food product and drinks are organic in aspect and other
things that make it healthier and energetic.
Demographic of product - Sips and Bites target their consumers that are young
individuals at age among 14 to 40.

Management Process / Finance
 Financial Planning and Accounting - Financial planning is an essential term that will
supports them to understand about the requirements of fund. It supports to attain the
targets and aims on regular basis.
 Cash Flow Planning - It is essential for the management to maintain the manner of the
cash flows. It supports in balancing the inflows and outflows of the management.
 Weekly/ Monthly Financial Monitoring - If the funds are supervised on regular basis
than there will be minimum chances of issues and the management is capable to attain the
success.
 Monthly Profit & Loss Statements – It supports to understand about the present growth
of the business (Howell, and Brossard, 2021). It is essential to understand about the
profitability level and losses level on quarterly basis by which the enhancement can be
done.
 Balance sheet - Balance sheet shows the value of liabilities and assets of the business
management.
 Book keeping - It is the procedure of managing regular term of financial transactions and
information in terms of the management.
 Current Finance Requirements - There is requirements of funds to start the
management. The funds that will be taken from bank as the loan.
 Financial Forecast - Financial forecast supports in understanding about the furthermore
needs of the funds. The management get ready and determine the sources of cost.
Financial Statements - As there are 3 significant financial authorities that might be developed
by all management that are as follows -
 Cash Flow statement
 Profit and Loss Statements
 Balance Sheet
7 P’s Marketing Mix
 Product - Sips and Bites present the goods in terms of organic food and drinks with high
quality of calories (Wiklund, 2021). It involves organic compounds in terms of vitamin,
minerals that offers energetic and healthier food to their customers.

 Price - Price is termed as the monetary fund of the goods on which the consumers are
ready to buy goods. Sips and Bites fixes the cost of their goods as per to their challengers
costing tactics. Management chargers cost as per to the qualitative goods and services
that will influence the wider term of the consumers. Place - Sips and Bites offers their goods by available outlets, retailing field of market
place (Thinsandee, and et.al.,., 2021). The management also offers organic drink by
online medium and also available their products in home delivery options. Promotion – As the management of Sips and Bites offers organic food and organic drink
to teenagers and young age individuals. The management conduct social media
campaigns and promotions to influence higher term of the consumers. People - Sips and Bites management recruit efficient and potential candidates who
provides services by presenting managerial functions and operations in an effective way.
Management also offers training to their candidates to enhance their efficiency. Process - Process is termed as the procedure of offering the goods and facilities to their
consumers. Sips and Bites create the demographic section for the managerial operations,
actions, courses of procedure to increase their global effectiveness of the management.
 Physical evidence - It is termed as the physical divisions that offers efficient experience
to their consumers with their journey in the business.
Other Management Process
SWOT Analysis

Strengths
 The food and beverage management is
at prosperity by which the company
will be capable to attain their success.
Weakness
 Deficiency of funds is termed as a
weakness of the management. As there
is requirements borrow funds in respect
to start management.
Opportunities
 The utilisation of social media will
supports the management to reach more
amount of consumers.
Threats
 COVID - 19 has negative impact on the
management. The pandemic situation
has decreased its sales of food and
beverage business.
PESTLE Analysis Political Factors - The political factors will directly have affected on the management.
As there is political stability in the United Kingdom and it is advantageous for the Sips
and Bites to be capable to functions as efficiently. Economic Factors – As there are wider amount of economic factors like inflation rates,
interest rates and so on. By starting new management, it will support to maximise the
employment level and as well as it helps to maintain the GDP of country. Social Factors - The requirements and desires of society are examined in this
components (Assensoh, and Alex‐Assensoh, 2021). “Sips and Bites” will take care about
the desires and requirements of the consumers and also offers them qualitative facilities. Technological Factors – The utilisation of the contemporary and upgraded techniques is
termed in this section. In relation to the “Sips and Bites” they utilise digital and social
marketing techniques that presents the management that utilise modern technologies. Legal Factors – As there are high term of laws and norms that are essential for the
business to apply it. “Sips and Bites” will have an effective section from government and
register their management to functions.
 Environmental Factors - It is essential to maintain the environment at the time of
starting new management. “Sips and Bites” will utilise eco-friendly packaging and will
demonstrates there contribution towards situation.

CONCLUSION
From the above mentioned report it has been concluded that, it is essential to conduct suitable
research before starting the management. As there are several sort of the factors that will lead to
an effective location, marketing, financing and so on. Efficient planning and execution will
support them to attain success of the management.

REFERENCES
Books and Journals
Lamberti, A. and Grant, D.M., 2021 7. Regenerating a Once Fallow Ground: Theorizing Process
and Product in 21st-Century Technical Communication Ecologies. EFFECTIVE
TEACHING OF TECHNICAL COMMUNICATION, p.131.
Liaros, S., 2021. A network of circular economy villages: design guidelines for 21st century
Garden Cities. Built Environment Project and Asset Management.
Mithi, J. and Govender, S., 2021. Affective Enterprise Resource Planning Tools in Academic
Management.
OFFEM, O.O. and ANASHIE, A.I., 2021. AN OVERVIEW OF ICT IN EDUCATION FOR
NATIONAL TRANSFORMATION IN 21ST CENTURY AND BEYOND. UNIZIK
Journal of Educational Research and Policy Studies, 2, pp.271-280.
Scarlet-Ritter, E., 2021. What, Who and How: Educating 21st Century Children. Theoretical and
Practical Approaches to Non-Formal Education: Interdisciplinary Examinations into
Various Instructional Models, p.215.
Çora, H. and Mikail, E.H., 2021. Energy policies of the USA in the first decade of 21st century.
In E3S Web of Conferences (Vol. 244, p. 10057). EDP Sciences.
Howell, E.L. and Brossard, D., 2021. (Mis) informed about what? What it means to be a science-
literate citizen in a digital world. Proceedings of the National Academy of
Sciences, 118(15).
Wiklund, J., 2021 Re-examining And Extending Penrose's Growth Theory: Updating Penrose
For The 21St Century.
Thinsandee, T., and et.al.,., 2021. Factors of Buddhism Method a Reducing Aggression to
Effectiveness of the 21st Century Thai’s Youth. Annals of the Romanian Society for Cell
Biology, pp.20641-20649.
Assensoh, A.B. and Alex‐Assensoh, Y.M., 2021. The Political Economy of Land and
Reparations: The Case of Reparations for African Americans in the 21st
Century. American Journal of Economics and Sociology, 80(2), pp.699-720.
Krisjanous, J. and Hallett, C., 2021. New Zealand’s ANZAC nurses: marketizing the great war
for a 21st-century fit. Journal of Historical Research in Marketing.
Clegg, P. and Towns-Andrews, L., 2021. DEVELOPING SOCIAL ENTERPRISE IN THE
HIGHER EDUCATION SETTING: A CASE STUDY OF THE UNIVERSITY. Social
Enterprise in the Higher Education Sector, p.91.