BUS301 - Mystic Monk Coffee: Integrated Capstone Project Analysis

This integrated capstone project report analyzes the problems and issues of Mystic Monk Coffee, focusing on strategic planning and management as vital reasons for the business's success. It identifies challenges such as the selection of proper products to sell and the need to adapt to the e-business landscape. The report proposes a strategic plan integrating the theory of constraints (TOC) and resource advantage theory (RAT) to address these challenges. Recommendations include concentrating on customer engagements and creating a clear data strategy. The report concludes that Mystic Monk Coffee needs to stay current with trends and maintain a competitive marketing strategy, requiring critical thinking and analysis to accommodate the latest tools for the company. This document is available on Desklib, a platform offering various study tools for students.

Integrated Capstone Project
(Mystic Monk Coffee)

Introduction:
The presentation is helpful to
analyze problems and issues of
Mystic Monk Coffee. Here, a detailed
discussion is done on the
organization. Further, problems and
issues are also analyzed here.

Issues and challenges of Mystic Monk Coffee:
 Here strategic planning and management is a vital
reason of the business’ success. Besides, the
selection of proper products top sell the primary
issue of the company is another barrier. Besides,
there are challenges regarding entries to be
eradicated in current times of e-business (Lo, Shen
and Chen 2017).
 Mystic Monk Coffee lacks the ability to launch their
business in internet platform and perform their
business smartly (Vanhoucke 2014).

Strategic Plan for mystic Monk
Coffee:
 Integrating the theory of constraints (TOC):
This methodology is helpful to
determine the most important restricting
factor or constraint. This stands in the way
to achieve goal. Further, it helps in
systematically developing the constraint till
it has been no longer the resisting factor
(Ptak and Schragenheim 2016).

Theory of constraint provides various
effective set of tools to help to gain the
goal.
The throughput of accounting: This is
process to measure performance and
guide various decisions of management.
Thinking process: Tools to assess and
resolve issues
Five focusing steps: This helps on
determining and eradicating constraints.

 The core concept:
This states that each and every process consists of single
constraint. Here, the entire process throughput can be developed as
the constraint is enhanced. Here, a notable corollary to this is that
spending more time to optimize non-constraints does it provide
important benefits. This only makes developments to the constants
to move towards the goal or gain more profit (Kolmogorov 2018).
Any successful theory of constraint deployment consists of various
benefits.
 Rise in profit: The main aim of TOC for most of the companies.
 Quick development: A result to make concentration of every
attentions over one single area which is the system constraint.
 Rise in capacity: It optimizes constraints that enables more
products to get manufactured.
 Decrease in lead times: Optimizing results of constraints in quicker
and smoother flow of products.
 Decrease in inventory: This indicates less work-in-process.

Resource advantage theory (RAT):
 This is an evolutionary process or the process theory of competition. The
foundational premises of R-A theory are the following.
 Here the demand is heterogeneous around industries, within industries.
Moreover, it is dynamic in nature.
 Information of consumers are imperfect and expensive. Here, the theory
uses consumers as considered from a wider concept. This also includes
business and buyers.
 Human motivation is constrained the seeking if self-interest.
 The objective of Mystic Monk Coffee is to gain superior economic
performance.
 Data of Mystic Monk is costly and imperfect.
 The resources of firm’s are relational, informational, human, legal,
physical and financial.
 The characteristics of resources are heterogeneous.

 The structure and foundations of R-A theory:
RAT is a common theory of competition demonstrating the
overall method of competition. RA Theory is evolutionary,
disequilibrium-provoking, process theory of competition. Here
organizational and innovation learning are endogenous. The consumers
and firm possess imperfect information (Hunt 2015). Further, the
consumers consist of imperfect information where various
entrepreneurship institutions and policy of public impact financial
performances. Further, the evolutionary theories of competition needs
entities serving units of selection in an overall evolutionary process.
Here, the entities are relatively durable in nature. This indicates, they
can at least present through long periods of time and it is heritable.
Here the durable entities of competition and selection for comparative
benefits in resources comprises of evolutionary selection process.
 The core concept:
The R-A theory assimilates heterogamous demand theory. This is
done with a resource-based view of Mystic Monk. This contrasted with
heterogonous demand theory, competition has been fetching intra-
industry demand as notably heterogeneous with respect to consumer
preferences and tastes. Thus, it is unsuitable to draw demand curves
for Mystic Monk. Hence due to heterogamous intra-industry demand,
Mystic Monk can be seen best as the collection of various types of
market segments (Bosse and Phillips 2016).

Recommendations for Mystic Monk Coffee:
 Concentration of customer engagements:
 The company has been accessing their clients and developing
strategies that has been revolving around basic times of
engagements.
 Creating clear strategy of data:
 Various customer interactions are done here, that are presently in
market and retrieved for future usage.
 Analyzing different types of campaigns of life-cycle:
 The organization, must retain, perform onboard activities, engage
and acquire noted summary regarding success of programs.

Conclusion:
 The business of Mystic Monk Coffee requires to remain on the popular
list as far as current trends are concerned. Further they should assure
that their marketing strategy has been effectively competitive. Apart
from this, the organization has required to have a clear idea and aim
to keep everything flexible as far as long-term strategies are there to
include different smart trends. Furthermore, there is a huge necessity
of critical thinking and analysis to accommodate latest tools for the
company.

References:
Bosse, D.A. and Phillips, R.A., 2016. Agency theory and bounded self-
interest. Academy of Management Review, 41(2), pp.276-297.
Hunt, S.D., 2015. The theoretical foundations of strategic marketing and
marketing strategy: foundational premises, RA theory, three fundamental
strategies, and societal welfare. AMS review, 5(3-4), pp.61-77.
Kolmogorov, A.N., 2018. Foundations of the Theory of Probability: Second
English Edition. Courier Dover Publications.
Lo, S.M., Shen, H.P. and Chen, J.C., 2017. An integrated approach to project
management using the Kano model and QFD: an empirical case study. Total
Quality Management & Business Excellence, 28(13-14), pp.1584-1608.
Ptak, C.A. and Schragenheim, E., 2016. ERP: tools, techniques, and
applications for integrating the supply chain. Crc Press.
Vanhoucke, M., 2014. Teaching integrated project management and
control: Enhancing student learning and engagement. The Journal of
Modern Project Management, 2(1).