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Bmgt 364

In: Business and Management

Submitted By gg123456
Words 1248
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Introduction At the age of forty Tom has taken a $50,000.00 buy-out for the company that he worked for. Tom is married with two children and a pet and bases his values around them. He has a BA in business as well as an MBA and is working on starting his own coffee shop, name Tom’s Coffee Cup, across the street from the Ravens and Orioles stadium in Baltimore, Maryland; but still wishes to spend more time with his family since he was not able to do that in his previous job. As Tom’s Coffee Cup becomes successful the work load becomes too much and Tom decides to hire additional help since his wife refuses to be park of the business.
Planning
Mission At Tom’s Coffee Cup our mission is to provide an atmosphere quality for the quality people we serve.
Vision
Tom’s Coffee Cup offer a place where customers can come to relax and make their daily routines more pleasant.
Strategy
Tom places his coffee shop across the street from a stadium which brings in various customers that work at or near the stadium as well at those who go to games. Tom offers a various amount premium coffee and baked goods as well as good quality and generously-sized quantity of sandwiches and salads. He also adds smoothies and wheat grass for the health conscious crowd.
Goals and Objectives Tom business was succeeding and his plan is to devote more time to getting free advertising for promoting his coffee shop. When hiring Willie Cheet Tom’s sets a goal for him to save to business money and rewards him a percentage of the money saved each month. Although Tom sets a good goals he does not set the objectives on how those goals will be met. According to allbusiness.com objectives do not have to be financial they can be performance, customer satisfaction, or other key elements of success as long as it is defined how they will be measured. Objectives can be measured through gross profit,…...

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