Starting up a business turns to be challenging more so if the owner has no proper planning for the future of the firm. Strategic thinking and proper decision-making processes are required when setting up a business ( Sáenz-Royo & Moreno, 2015) . Small businesses tend to be less challenging compared to large organizations due to differences in the initial capital and other contributing factors. Personally, I have the idea of investing in a mobile food business long the streets of Caribbean Island. The name of the business is proposed to be "Taste of the Island." As the title suggests, I have a long-term vision of providing fresh, sweet and unique food to citizens at the right time and a subsidized price. The primary targets for the business are the employees working in offices along different streets who tend to walk for long distances to look for food. That shall save them time as they take their meals just outside the offices within a comfortable, natural environment.
What encouraged me to have such a vision were the outcomes got after doing market research on how people need fast foods at a convenient price without necessarily traveling for extended distances to get a café. Truck food businesses are many, but the unique idea of supplying Caribbean Island foods will make me thrive over the competitors. Scholars in the field of marketing talk of market research as a tool in product development. I had to conduct a take a survey on the type of food offered by other competitors and come up with a new product that is cheap and of quality to satisfy customers’ needs( Sáenz-Royo& Moreno, 2015) . That includes getting a product that is closer to people's preferences to win their royalty.
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Upon starting this business, I have a management structure in place that will help me achieve the objectives and end goals of the business. Business administration courses taught in colleges and universities aim at giving students knowledge on how to run businesses. An organizational structure is necessary when conducting business with multiple operations throughout the day. In the case of my business idea, I will have the management team composed of me (owner) and the chief accountant of the business. The two people are the ones to make decisions and later communicate them to the employees for implementation. When it comes to making financial decisions, there is always the need to incorporate an expert in that field who can provide suggestions as well as advice on how to manage finances and increase profits. Taste of Island business will include purchasing of raw materials that shall be processed to fresh meals as the final product. If there is no real plan of how costs shall be managed, there is a higher probability of the business failing in the future.
Apart from having a good organizational structure, proper management of the business requires effective communication strategies. Passing of information from decision-makers to employees for implementation must be efficient ( Huong & Thi, 2015) . Employees must also be in a position to communicate with the clients and understand their needs and wants. For this business, an employee-customer relationship is more crucial than any other thing. That is going to enhance the return of customers hence winning their loyalty. My plan to have a way of collecting customers’ feedback once they receive our services to try and establish the after-use feeling. That provides the management team with an opportunity to know how other competitors are doing in the market as well as getting to understand the different tastes of customers.
Leadership roles and structure determines the growth of the business both in the short term and in the long run. If the business has poor leadership at the beginning, it is more likely to record negative growth. However, small businesses have the likelihood of owners being the managers of their premises. The situation may put entrepreneurs in a losing battle if they do not understand the basic concepts of managing a business. Therefore, my leadership plan includes having an employee who ha proper skills in managing daily transactions to avoid mixing up the business money with personal drawings. Other than having different departments in the business, organizational training act as necessary tools for development ( Rothaermel, 2015) . That will be applicable in the business to make employees aware of the new types of Caribbean Island foods and how to prepare them. It will also create an opportunity to learn more about the new technology in the market to make work easier and faster. Adding this incentive in the organizations will improve the ability to serve customers.
The Taste of the Island business resembles the environment of a small business that requires proper management to have a good profitability ratio. Other factors that may act as a barrier to business progress include government policies ( Rothaermel, 2015) . My plan on having a stable business have a permit to sell food in a truck. That requires me to present my business plan to the regulatory authorities to get a trading license. Their other certificates are needed including hygiene and insurance documents. They are necessary when there is an occurrence of an accident within the line of business. For example, there have been cases laid against Java coffee shops in the United States of America as a result of selling hot coffee to customers leading to unwanted burns. When such accidents occur, the insurance is ready to cater for the bills incurred on the customer's damages.
Organizational performance depends heavily on the kind of management structure applied in the business. Many business personnel lacks the skills leading them to mismanage their companies. It is advisable to learn more about administering a business before putting the idea into practice. If that is not possible, then there is the option of hiring professionals who can conduct the task. Implementing a new business plan does not only need enough starting capital. Instead, it calls for a good budget plan on how to manage the capital and get some profit in return. Supplying fast foods by the use of a track is a business that will require proper coordination of events from point A to B to avoid delays. Workers must be quick enough to serve as many people as possible in a short period. The reason is, target groups may not have much time to have lunch and get back to work. Therefore, efficiency in this business is not compensable since it is the only way to hit the organization's objectives and goals.
References
Sáenz-Royo, C., Gracia-Lázaro, C., & Moreno, Y. (2015). The role of the organization structure in the diffusion of innovations. PloS one , 10 (5), e0126076.
Huong, H., & Thi, T. (2015). Management control process introduction and its reflection in Vietnam and Spain business entities.
Rothaermel, F. T. (2015). Strategic management . New York, NY: McGraw-Hill.
