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Challenges of building and managing small business

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Reference no: EM133115027

The task is based on a simulation game.

The main objective of the simulation is to allow students to experience the challenges of building and managing a Small Business in a given market under certain circumstances. In this simulation, students play the role of a Small Business Manager which is considering how to grow a Small Business in a very competitive sector: the food & restaurants sector.

In concrete, the student will play the role of the manager of a restaurant which is offering fast food to its customers.

The restaurant is not a franchise of a company and it is fully owned by the Small Business Manager. Thus, the student is expected to work in the following points:

1. Can you explain the main elements that you should contemplate to grow and sustain a new small business into that sector?

You must set up and explain:

- The purpose of the company and the main threats that will be faced by the company in the mid and long term.

- A description of your potential customers and their main needs.

- Main trends impacting into your market and thus, into your business.

- Based on the previous, a first approach and design of the strategic line that will lead your business to stay alive and grow in the upcoming 5 years.

2. Can you define the plans that you will consider developing when it comes to capturing the previous points and derived conclusions.

Reference no: EM133115027

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