Detailed Business Plan Analysis: Comparing Two Business Models

This report provides a detailed analysis of two business plans: "Quality Training Pvt Ltd" and "Italian Renaissance Theme Restaurant." The analysis covers the business value, vision, mission, and objectives of each organization, comparing their strengths and weaknesses in these areas. It examines the quality of information regarding market conditions, competitor analysis, and the quantity of information provided in each plan. The report evaluates the performance measures, including their specificity, realism, and competitive pricing strategies. It also assesses the implementation and monitoring of the business plans, including communication strategies, staff training, performance measurement systems, and actions taken in case of business system failures. Furthermore, the report includes a SWOT analysis summary, evaluation methods for checking performance, and a discussion of oral communication and listening skills. Finally, it responds to performance data, including financial and non-financial aspects, offering insights into revenue, labor costs, and marketing strategies. The report highlights the importance of adapting strategies based on performance data to achieve business goals.

Business Project

Table of Contents
PART A: Analyse of Business Plans...............................................................................................1
Analyse and interpret the business value, vision, mission and objective...............................1
Comment on quality of information regarding its demonstration on competition market
condition.................................................................................................................................2
Comment on quality and quantity of information..................................................................2
Performance measures specific and realistic and pricing competitive...................................3
Business plan..........................................................................................................................4
PART B Business plan (Covered in template)................................................................................4
PART C Implement and monitor performance of the business plan...............................................5
Communication of business plan............................................................................................5
Ensure staff have relevant skills.............................................................................................5
Test performance measurement system..................................................................................5
Ensure timely report on key aspect of business performance................................................5
Actions for business system failure........................................................................................5
Training for staff members.....................................................................................................6
Summary of SWOT analysis:.................................................................................................6
Evaluation method for checking performance.......................................................................6
Oral communication skill.......................................................................................................6
Listening skills........................................................................................................................6
Exchanging of information.....................................................................................................7
PART D Respond to Performance Data.........................................................................................8
Financial performance data:...................................................................................................8
Non-financial performance data:............................................................................................8
REFERENCES................................................................................................................................9

PART A: Analyse of Business Plans
Analyse and interpret the business value, vision, mission and objective
Analysis has been done over business plan of two organisation named as “Quality
Training Pvt Ltd” and Italian Renaissance Theme Restaurant . From this business plan analysis
following information has been gathered:
Basis Quality Training Pvt Ltd Italian Renaissance Theme
Restaurant
Objective The objective of Quality
Training Pvt Ltd is more
cleared as it depict about in
which they have to work for
achieving their targets of
growth, profit and citizenship
which is more realistic to the
type of business.
On the other hand the
objective of Italian
Renaissance Theme Restaurant
is not as much clear as its main
focus is toward expanding its
business in foreign market
which may affect its the
demand or satisfaction of local
market consumers
Mission The mission of Italian
Renaissance Theme Restaurant
is to offer variety of food in
different location at reasonable
price which is perfect as per
the marketing condition
because competition is more in
industry and this will help in
achieving sustainability.
On the other hand, the Mission
of Quality Training Pvt Ltd
provides information about
both long as well as short
objective which is more
realistic and achievable.
Vision The vision of Quality Training
Pvt Ltd is more clear and
informative as it focuses on
satisfying and expanding
On the other hand the vision of
Italian Renaissance Theme
Restaurant is not provided in
business plan.
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customer base which provide a
clear way to align their work.
Value statement The value statement of Italian
Renaissance Theme Restaurant
focuses on promoting Cuban
culture and earn profit by
serving local food. This is
more beneficial for them in
enhancing their market share.
On the other side the value
statement of Quality Training
is not provided which is very
essential for creating a positive
image in front of target market.
Comment on quality of information regarding its demonstration on competition market condition
In the business plan of Italian Renaissance Theme Restaurant not much information is
given about the competitors rather scope with in target market is given. Apart from this, plan
provide information regarding the way in which they create value in front of customers by
promoting culture and local food of Cuba. On the other hand the Quality Training Pvt Ltd
provide a detailed information about their competitors through its comparison and analysis along
with risk and opportunity. This provide them a deep understanding which contribute toward
developing strategy for business growth and development in marketplace.
Comment on quality and quantity of information
Quality Training Pvt Ltd Italian Renaissance Theme
Restaurant
Quality of information Quality training, there is use of
different aspects such as
training program for achieving
business objectives. Owners of
Training Quality are
representatives of State
Training Authority.
While in business plan of
Italian Renaissance Theme
Restaurant such as vision is
not provided. Objectives of
Italian Renaissance Theme
Restaurant are not clear
because business expansion is
done in three countries. This
affects working style of
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association.
Quantity of information Good and detailed information
about business idea is provided
in detail. Apart from this
Quality Training has clear
strategies for providing
training to employees.
While business plan of Italian
Renaissance Theme Restaurant
does not have information
about training aspects.
Hence business plan of Training Quality is more detailed as compared to Italian
Renaissance Theme Restaurant .
Performance measures specific and realistic and pricing competitive
Business plan of Italian Renaissance Theme Restaurant and Quality Training provides
proper information related to it.
Training Quality analyse their
competitors policies which
assist them to perform
business activities according to
change in external
environment.
Italian Renaissance Theme
Restaurant has performance
measuring measures with the
help of benchmarks and
standards.
At the same time, managers of
Italian Renaissance Theme
Restaurant has proper policies
for measuring performance.
They have aims and objectives
which are achievable by
employees working in
association.
Pricing strategies of both organisation is competitive, but managers of Italian
Renaissance Theme Restaurant focus on premium pricing strategies for specialised services.
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Hence it is clear with both business pan that they have knowledge about market, so it is clear to
make strategies according to external environment and consumer demand. This policies of Italian
Renaissance Theme Restaurant and Training Quality are working to attain good profits and
make strategies for growth of business.
Business plan
There are different types of consumers at Italian Renaissance Theme Restaurant , so it is
easy to select changes which are relevant and significant for performing operations. These
business plan are helpful to provide information to reader regarding working style of association.
In this there are different factors are provide relevant information to readers. In business plan of
Italian Renaissance Theme Restaurant are not very specific, so this is affects information about
goals and objectives of association. While business plan of Training Quality was detailed and
descriptive, so it provides information about every aspect.
PART B Business plan (Covered in template)
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PART C Implement and monitor performance of the business plan
Communication of business plan
In order to communicate different policies to related parties, it is important to make
policies which are important and signifiant for growth and development of business.
Performance data in terms of profits, positive reviews from customers are analysed. This assist in
increasing faith of stakeholders.
Ensure staff have relevant skills
The performance management activities will be done on regular bases by analysing the work of
employees and comparing it with planned performance. This help in identifying the gap between
two performance and reason behind such difference. In order to fill this performance gap proper
training will be provided to staff.
Test performance measurement system
The performance measurement system will be test to determine its effectiveness and accuracy by
comparing it with the organisational objectives and profitability that has been earned. It is
expected to increase the profit share by 10% within two years by focusing on quality of food and
services.
Ensure timely report on key aspect of business performance
It will be ensured to circulate all the financial and non-financial report to stakeholders
and other staff members so that the actions can be performed in an informed manner. For this
quarterly meetings will be arranged for interacting with staffs, key members and other internal
stakeholders for providing them information. Booklets will be printed to provide information of
restaurant to customers for attracting them toward its services. For measuring performance
behavioural, comparative and quality approach will be used and benchmarks will be based on
level of quality and number of positive feedbacks from customers.
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Actions for business system failure
There are possibilities of failure of product which newly launched by managers of
Restaurant. In case of failure of product, will convey to stake holders and provide them
measures of failure. Actions which are taken to resolve issues which are taken place. This affects
business plan in negative manner. In order to make improvement in business plan, regular
analysis is done and feedback are taken from customers to analyse changes.
Training for staff members
For performing business operations effectively proper training will be provided to staff
members regarding the communicational method, way to prepare and serving dishes in attractive
manner, ways to handle issues and how to develop a better relation with customers. The business
performance will be monitor by both the partners of Chops & Hops Restaurant.
Summary of SWOT analysis:
The major strength of Chops & Hops Restaurant is its location which is most visited place for
tourist as well as localities but its weakness is high rental cost which reduce its profitability. The
threat is increasing competition within industry. For overcoming this, it can collaborate with
travel agents which is the major opportunity as it help in increasing the source of profit.
Evaluation method for checking performance
in case of Restaurant, there is use of different aspects which are relevant and significant
for maintaining changes according to desire of consumers. There is difference in demand of
consumers, so it is responsibility to take care about performance of workers. Partners of
restaurant has to set benchmarks with which it is easy to analyse performance. In order to
improve performance of overall employees, it is essential to convey information to workers, so
they can perform business operations in best manner.
Oral communication skill
Oral communication is one of the important aspect in restaurant sector. This helps to
understand ideas of consumers and employees and make them understand about different ideas.
This assist in making changes in working style of association. Oral communication must be clear
and does not provide information in two way. This creates confusion and affects business
operations.
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Listening skills
Listening skills are crucial and relevant because if workforce of restaurant does not
understand ideas of consumers, then they are not above to provide required product and services.
If listening skills of workers are good, then they are able to understand requirement of
consumers. This is relevant and significant for asking relevant questions.
Exchanging of information
There are many departments in restaurants, so it is essential to make changes which are
relevant and significant to deal with alterations. This helps to provide proper services according
to demand of consumers. Hence training related to communication must be provided to
workforce. This ease in communication with internal as well as external parties.
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PART D Respond to Performance Data
Financial performance data:
By comparing the actual performance with business plan it has been determined that the revenue
is 5.6% less then decided. So in order to cover this, Chops & Hops Restaurant is required to
improve marketing strategy. More promotional activities can be performed in order to atract
large number of people and event can be arrange for directly interacting with customers or
replying over the issues that customers may have. Another issue identified is that labour cost is
4.3% over budget which can be rectified through reviewing the system or by reducing the team
of cleanliness people.
Non-financial performance data:
From the performance review it has been identified 3rd in charge cook is having problem in
producing consistent food. So , for overcoming this issue more candidates may be appointment
through recruitment process and training must be exerted to them so that no further complaints
can be faced from customers. Another major issue faced is miscommunication between kitchen
team and front house team which leads to wrong table and delay in serving. This can be
overcome by improving the communication and production system improvement. So that proper
message can be circulate and orders can be provided on time.
The bar management issues has been arosed due to mismanagement between employees.
So for overcoming this, meetings can be schedule for these employees for determining the issues
they are facing and reason behind getting late over job. This support in identifying the reason and
minimising these delays so that customers can be served on time. But in order to avoid these
issues in meetings must be arranged and if meetings are not managing on time then it must be
scheduled and information must be circulate to staff so that they can attend the meetings.
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REFERENCES
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