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BUS5003

Enterprise and

Entrepreneurship

Task 1 – Business Plan

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Table of Contents
The New Business Concept/Business Model:.................................................................................3

Management Team’s Entrepreneurial Expertise:............................................................................5

Include a brief background profile..............................................................................................5

Explain the role that play as an entrepreneur and the skills........................................................5

Discuss and justify the legal form of business and ownership structure.....................................6

Market and Competitive Industry Analyses:...................................................................................7

Marketing Strategy for the new business venture:..........................................................................8

Business Sales and Operations Strategy:.......................................................................................10

Business Financial Strategy and Risks:.........................................................................................10

Conclusion.....................................................................................................................................11

References......................................................................................................................................12
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The New Business Concept/Business Model:

The new product here is Alpenlibe sauce under the brand Perfetti Van Melle.

If people follow the directions, making Alpenliebe sauce from cocoa powder is a breeze. People
must add cocoa powder, water, salt, sugar, and vanilla extract. The chocolate sauce only requires
four components if the vanilla extract is left out (Abrams, 2022). Multiple studies have found
that eating chocolate sauce in moderation positively affects health metrics, including cholesterol
and blood pressure.

Specific

A further investigation into Alpenlibe sauce might be beneficial. Because this is the starting
point, no stone can be left unturned. What, where, when, who, with what, and how must all be
specified. Extra details would help people make a better Alpenliebe sauce. As objectives
sharpen, people can work toward them quickly (Barrow, 2015). In this way, things will be less
complicated for people. Corporate leaders and those responsible for making strategic decisions
will no longer have to guess if they have sufficient funds or components to complete their
projects. This is the case if people know available means of accomplishing aims.

Measurable

One way to judge the success of a goal is through complex numbers. An aim is precise, much
like Alpenliebe sauce. In order to be helpful, examples like the one given above require the
definition to incorporate numerical values such as percentages or dollar amounts. Getting
additional customers is not enough of an answer (Abrams, 2022). Please describe ideal
customers, and the volume of business people anticipate receiving from them. More quantitative
data allows for more precise event regulation.

Achievable

Challenging tasks require mental preparation since people know they must do them. If people set
goals that are impossible to achieve, the team may get disheartened. However, being the first to
complete a task may serve as an incentive for some (Barrow, 2015). Therefore, people should
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first investigate Alpenliebe sauce's previous efforts to make a goal more manageable. People
may use this data to determine if they should move forward with plans or reevaluate them.

Relevant

Before committing to lofty yet attainable targets, it is essential to assess the strengths and
weaknesses of the team and its members. As a result, people will need help to set relevant and
feasible objectives. People need to know if they can achieve goals for Alpenliebe sauce before
people set any. People can only make preparations if they know whether or not they have the
necessary means.

Time-Bound

The situation calls for dispelling common myths that stand in the way of development. The
following phrase contains misunderstandings: People need both a destination in mind and the
means to get there if they want to be successful. To achieve goals, people will require all
resources available. People will have to use creative problem-solving strategies and persevere to
succeed. They will have replies ready for opponents if they have questioned abilities, and people
will convey confidence to the workforce (Dasilva, 2014). The message which people offer to the
opponent is one of the supreme assurances. It could be the deciding factor in whether or not an
objective is realized. To complete the job, people must give themselves a beginning and an end
date. Having a plan for how and when people want to complete the task will significantly
improve the odds of success. This will alert people as to whether or not people are on track to
meet the deadline. In addition to showing people if they are on track, this will tell them if they
need to pick up the pace. When they know they will not make it there in time because they are
running late, do not panic. If they are in this predicament, do not give up. Make an effort to
broaden skillset instead. People's job is to make the most of this leeway without breaking any
promises. To stay out of trouble, people will have to tread lightly.

Mission Statement

Make your deserts taste like the flow of chocolate

Vision Statement
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We intend to maintain our position as the industry leader by continuously providing our clientele
with the novel, delectable confections of the greatest possible standard.

Management Team’s Entrepreneurial Expertise:

Include a brief background profile
Perfetti Van Melle's owner has built a high-level management team to carry out their substantial
tasks successfully. A firm or corporation's leadership comprises competent people from many
fields who can help it succeed.

 Accounting
 Marketing
 Sales
 Business strategy
 Operations

After forming a management team and delegating roles, Perfetti Van Melle's founders may need
help handling particular tasks as the firm expands. Once the founders have assigned specific
duties to the management team, this may be the situation (Dasilva, 2014). Delegating managerial
duties to a team may boost efficiency, and specific team members may have skills the company's
founder needs to gain. The goal, composition, and functions of the management team depending
on the type of organization being managed.

Explain the role that play as an entrepreneur and the skills

The bulk of Perfetti Van Melle based companies has management teams like this. The CEO's
extension is its primary goal. Six people make up a company's senior management team.

The most influential people in a corporation are its CEOs. They oversee all management and
general staff and make all financial, personnel, marketing, and sales decisions. In addition, they
oversee all general staff operations. Even though a corporation's owner is usually its CEO, some
firms have several CEOs (CEO) (Johnson, 2018). Although CEOs are ultimately accountable for
everything in a firm, they typically rely on the management team to complete their promises.
Even yet, CEOs are ultimately responsible for everything.
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A company's chief financial officer manages its money (CFO). They create budgets,
strategies, and cash flow management systems for the company's financial future. These plans
are in the organization's financial future. Chief Financial Officers (CFOs), sometimes known as
Chief Accounting Officers (CAOs), are members of a company's executive team with extensive
accounting and financial knowledge (Johnson, 2018).

Chief marketing officers (CMOs) develop and implement a company's marketing strategy.
Chief Marketing Officers (CMOs) implement the company's marketing strategy. In addition,
they assist in establishing the company's or product's market position and differentiate it from
rivals..

Discuss and justify the legal form of business and ownership structure.
Perfetti Van Melle's business customers mainly consist of sole proprietorships, partnerships,
LLCs, corporations, and cooperatives. This course will explore different types of organizational
legislation in greater depth.

Sole Proprietorship

A sole proprietorship requires the least amount of paperwork because it is the most
straightforward business organization. When a single individual runs a business as a sole
proprietorship, that person is personally liable for the company's financial obligations and
income. A company's operating capital must be adjusted to its market specifics (Massa, 2017). It
is common for business owners to shoulder the financial burden of paying federal and state taxes
and fees, interest on business loans, professional fees, and rent on office space and other business
assets. At the same time, the firm is just getting started. Businesses run by babysitters, teachers,
bookkeepers, cleaners, and freelance writers are all examples of the self-employed sector.

Partnership

A partnership's ownership might be divided between two or more people. A partnership can be
either "general" or "limited," depending on the participant's level of involvement. There are two
types of partnerships: general partnerships, in which all partners have an equal say in running the
firm, and limited partnerships, in which only one person has decision-making authority over the
partnership and the others merely provide capital and split the profits (Mckeever, 2018). Since
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the business entity and its owners are seen as one under a sole proprietorship, both are
responsible for business decisions. An LLP is exempt from these regulations (LLP). Due to the
necessity for legal review before forming a general partnership, the cost of forming a sole
proprietorship is higher than that of forming a general partnership. Depending on the specifics of
partnership's structure, the initial costs range widely. The location and experience of the attorney
may also play a role in the final price.

Limited Liability Company

A limited liability company (LLC) is a business structure that combines the tax advantages of a
partnership with the autonomy and legal protections of a corporation. Members of an LLC do not
personally guarantee the business's debts unless they violate the law or act negligently, in which
case they may be held liable for the damages they cause (Morris, 2015).

Market and Competitive Industry Analyses:

Segmentation

Customers of Perfetti Van Melle are "segmented" because they are divided into different groups
based on the traits they share in common. If people utilize the right strategy, dividing the
audience into several groups might be as easy as peeling peas (Massa, 2017). For example,
Sender automates and intelligently organizes the process of segmenting audiences into subsets
based on various factors, such as user-defined fields, particular scenarios, user history, and email
engagement. It does this by streamlining the process and organizing it in a way that makes it easy
to understand.

Targeting

After at least four segments have been created using Perfetti Van Melle, the most valued one
may be picked. When one has more expertise in a particular industry, it is typically easier to
determine which companies provide the most opportunities for advancement. When determining
whether or not a business is profitable, accessibility is one of the most significant factors to
consider. When considered in light of profitability criteria, customer acquisition cost (CAC)
hedging estimations are an excellent decision-making tool (Mckeever, 2018).. Regardless of
whether or not there are additional considerations to consider, including aspects such as size,
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growth, profitability, and accessibility in evaluations may help people make crystal clear and
logical judgments. Although more precise targeting is possible, doing so comes at a more
significant expense. The three phone numbers provided ought to be sufficient for most
businesses.

Positioning

After completing the first two steps, people can assess the potential of a product or service within
the market. People may reach the target audience with positioning, and more importantly, they
may be able to separate the firm from its rivals through positioning. Before delving into the issue
of the other three essential aspects that go into positioning, it is necessary to underline the
significance of communication. If people want to position the company in the market properly,
they must provide material that speaks to the interests of the customers they are trying to attract.
Developing more engaging content will be easier for people if they use buyer personas or, at the
very least, examine the customer criteria and comments. People may significantly improve
understanding of positioning by writing down thoughts on the "why," "what," and "how" of
products or services (Morris, 2015). This is an excellent way to consolidate knowledge. After
that, people will compile all customer feedback that satisfies the criteria people establish as the
minimum requirement. Examining this example of segmentation, targeting, and placement may
provide valuable information about goods and services from the perspective of someone
unfamiliar with them.

Marketing Strategy for the new business venture:

Products

Various labels may be found at Perfetti Van Melle. Most of the items are candies, and the
remainder is chewing gum. Candy manufacturer Perfetti Van Melle's Alpenliebe comes in
strawberry, caramel, and fruit flavours. The chewy candy known as Mentos comes in various
fruit and mint flavours. The most well-known Chupa Chups flavours include watermelon, cola,
strawberry, apple, caramel, and orange. Perfetti Van Melle is the local distributor for several
well-known brands (Sahlman, 2017). People may get Big Babol bubble gum in India, Italy,
Turkey, or China. A variety of "Center Fruit" gums have a liquid in the middle. Perfetti Van
Melle's sugar-free gum Use of HappyDent White can reduce the likelihood of tooth decay. They
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have jumped into the snack food business with their "Stop Not" brand. This is the only store in
Italy where people can buy sugar-free gum brands like Vivisol and Vivident. Guests may
purchase liquorice treats like Golia and Klene here. The "Frisk" mint-flavoured breath tablets are
pretty compelling. Mellers, Smint, Morositas, and Sula, are also on the menu.

Pricing

Competitors' prices have a significant impact on the company's own. The price of the candies is
the same. Candy such as Alpenliebe, Mentos, eclairs, and others are available for a price of just
Re.1. Products from Perfetti Van Melle are available for purchase by everyone, as they can be
found at grocery and convenience stores. There is a price difference of Rs. 5 between the smaller
Stop Not bundle and the bigger one. Prices range from Rs. 30 for the smaller Chupa Chups
bundle to Rs. The cost of HappyDent White varies by plan (Sahlman, 2017). Alpine Lover
chocolate bars come in packs of four for 50 rupees each. People can save money annually when
they stock up on certain products. People may find them at supermarkets and on shopping
websites. To increase sales, Perfetti Van Melle is reaching out to students. These brands' low
prices are beautiful in rural areas, where they are widely available.

Places

The sales objectives of the FMCG sector are to achieve size and accessibility. Across more than
150 countries, Perfetti van Melle's 31 factories may be found. High-turnover products need a
reliable delivery system (FMCG). Perfetti van Melle is supported by global distribution
networks. Large amounts of these products may be found in large and small stores in both urban
and rural locations (Wirtz, 2021). Retailers have restocked on best-selling regional brands to
boost business. Numerous retailers stock Perfetti Van Melle treats, including Amazon, Big
Basket Nature Fresh, and others. Their global network consists of more than 1,400 vendors.
About 800 stores provide packaging supplies, 600 offer unprocessed products, and 10 do both.

Promotions

Competition among businesses for consumers is intense. The most effective method for them to
accomplish this is to invest in advertising. Due to the nature of its products, which are mass-
market commodities, Perfetti Van Melle employs brash advertising strategies. Promoting
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business on television is quite expensive. Their ads were also published in several periodicals. A
new product from Perfetti Van Melle might be promoted on social media platforms, including
Twitter, Instagram, and Facebook. The "Dimag ki Batti Jala De" catchphrase appears in a
Mentos commercial. Kareena Kapoor is the spokesperson for Choco eclairs, a chocolate pastry.
In most commercials, famous people are not included (Wirtz, 2021). The ads for Perfetti Van
Melle are both educational and memorable. It is possible to sell copies of Alpenliebe ahead of Jet
Airways flights. Malls often offer away free samples of innovative items like Stop Not. People
have covered the final marketing puzzle for Perfetti Van Melle.

Business Sales and Operations Strategy:

Perfetti's sweets are tasty and fulfilling. Perfetti makes Alpenliebe, Chocoliebe, Mangofillz,
Chupa Chups, and many other candies. Perfetti produces many fruit-flavoured chewing gums.
Center Fresh, Shock, Fruittella, and Big Babool are examples. Mentos, Cholro Mint, and
HappyDent Mint Gym are among the company's mint-flavoured gums. Perfetti's impressive
lineup now includes snack snacks. The snack company StopNot, which began in December 2011
and was made in India, was inspired by Indian food (Zott, 2021). Whole Masala, Spicy South,
Tangy Tomato, and Khatti Metthi are StopNot app tastes. Perfetti makes several goods with
different looks. All the objects are different because of their shapes, colours, and tastes. Even
Stop Not has two flavours and a kaleidoscope of colours.

Customers like Perfetti's product packaging. Candy packaging, like Big Babool filly Candy,
attracts young people. Blister packs, pocket bottles, sticks, flip-tops, and other packaging
solutions are available for sweets and chocolates. Even the "Stop Not" food box has a happy
face. The golz face print and wide range of brilliant colours set it apart from other brands.

Perfetti's simple pricing method saves money. One chocolate bag costs fifty paise, but a pocket
bottle costs thirty puppies. As a snack, StopNot costs Rs. 5, Rs. 10, and Rs. By offering
merchants better profit margins and sales incentives, the business hopes to grow into other
markets.
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Business Financial Strategy and Risks:

An example of financial risk is the chance of incurring a loss of cash due to a business endeavour
or investment decision. There is always a danger of losing money while dealing with financial
matters, regardless of whether people are a person or a company. Credit, liquidity, and
operational risks are only a few potential financial hazards. It is crucial for prudent financial
planning to understand what causes a crisis and under what circumstances these elements are
likely to combine. There must also be a plan to address any unforeseen cash flow concerns that
may develop. Based on prior collection attempts, prediction models may be developed, enabling
the early detection of cash flow issues. That is not to suggest that it will never be helpful.
Maintaining a healthy cash flow might be more accessible by negotiating more advantageous
payment terms with debtors and allocating funds accordingly. If people put in the time and effort
to plan, they should have no trouble achieving objectives (Zott, 2021). In the event of cash flow
difficulties, people may withdraw a portion of revenues, seek a line of credit from the bank, or do
both. However, it is essential to understand that credit lines differ from traditional loans and
often carry higher interest rates. Several ways to raise funds might help people make ends meet
until pay covers expenses. The recovered monies and any accrued interest are then transferred to
the bank.

Conclusion
A thorough business strategy is required to enter the market successfully, grow into a sustainable
enterprise, and maintain that growth. When a company implements these tactics and uses the
information they provide, it may acquire insight into its future and discover how to grow. If
people know what to include in a solid business plan, they can develop a strategy that will propel
company to new heights and bring financial success. A well-developed business plan is crucial
for many reasons, but chief among them is that it lays out a road map for the company's success
in the marketplace. A well-planned business strategy is also essential for several additional
reasons. Employing such tactics might aid firms in learning more about their sustainability and
the places where they can stand to improve the most. A business plan is an essential document
that details the steps that will need to be followed both at the inception and during the lifetime of
a firm.
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References
Abrams, R.M. And Kleiner, E., 2022. The Successful Business Plan: Secrets & Strategies. The
Planning Shop.

Barrow, C., Barrow, P. And Brown, R., 2015. The Business Plan Workbook. Kogan Page
Publishers.

Dasilva, C.M. And Trkman, P., 2014. Business Model: What It Is And What It Is Not. Long
Range Planning, 47(6), Pp.379-389.

Johnson, M.W., Christensen, C.M. And Kagermann, H., 2018. Reinventing Your Business
Model. Harvard Business Review, 86(12), Pp.50-59.

Massa, L., Tucci, C.L. And Afuah, A., 2017. A Critical Assessment Of Business Model
Research. Academy Of Management Annals, 11(1), Pp.73-104.

Mckeever, M.P., 2018. How To Write A Business Plan. Nolo.

Morris, M., Schindehutte, M. And Allen, J., 2015. The Entrepreneur's Business Model: Toward
A Unified Perspective. Journal Of Business Research, 58(6), Pp.726-735.

Sahlman, W.A., 2017. How To Write A Great Business Plan.

Wirtz, B.W., 2021. Business Model Management. Design–Instrumente–Erfolgsfaktoren Von

Geschäftsmodellen, 2(1).

Zott, C., Amit, R. And Massa, L., 2021. The Business Model: Recent Developments And Future
Research. Journal Of Management, 37(4), Pp.1019-1042.