7151-final-project.docx - AD 715 Term Project Microbrewery in Kang Ho Dong Baekjeong Term Project \u2014\u2014Microbrewery in Kang Ho Dong Baekjeong Jingyuan

7151-final-project.docx - AD 715 Term Project Microbrewery...

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AD 715 Term Project- Microbrewery in Kang Ho Dong BaekjeongTerm Project——Microbrewery in Kang Ho Dong BaekjeongJingyuan DouDan GuoLintao TangZhou ZhouTianqi YangKong FuMET AD 715 Quan&Qaul Decision MakingProfessor Richard MaltzmanDecember 81
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AD 715 Term Project- Microbrewery in Kang Ho Dong BaekjeongTable of ContentsEXECUTIVESUMMARY.....................................................................................................................................3BASICINFORMATION.......................................................................................................................................3MARKETINGMANAGEMENT.........................................................................................................................45Pricing strategy...........................................................................................................................................................45Advertising method......................................................................................................................................................5Local Advertising. (Investment amount: 35,000 USD)................................................................................5Social Media. (Investment amount: 3,000 USD)............................................................................................5The 4P Analysis.............................................................................................................................................................6PESTLE Analysis.........................................................................................................................................................7INNOVATIONANDTECHNOLOGYMANAGEMENT........................................................................................................7SWOT analysis for applying innovation and adding new microbrew products......................................11What-if analysis..........................................................................................................................................................12OPERATIONMANAGEMENT...........................................................................................................................................13Analysis of the starting conditions........................................................................................................................13Targeted characteristics for the first three years of operations of the new business unit......................13Application of the business simulation (for the selected functional area).................................................14Operation Analysis and decision making............................................................................................................15Capacity Planning......................................................................................................................................................16Break Even Point........................................................................................................................................................16FINANCIALMANAGEMENT.............................................................................................................................................17Size of the business....................................................................................................................................................17Break down into specific products........................................................................................................................18Break-Even point Analysis......................................................................................................................................18Financial Statement Analysis..................................................................................................................................18NPV and IRR..........................................................................................................................................................18Risk Analysis..........................................................................................................................................................19Ratios........................................................................................................................................................................19Conclusion....................................................................................................................................................................20HUMANRESOURCESMANAGEMENT.......................................................................................................................20SWOT Analysis..........................................................................................................................................................22Decision Tree...............................................................................................................................................................22CONCLUSION.......................................................................................................................................................................23APPENDIX......................................................................................................................................................................25APPENDIX 1 IMPLEMENTATIONPLAN................................................................................................................252
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AD 715 Term Project- Microbrewery in Kang Ho Dong BaekjeongEXECUTIVESUMMARYThe Kang Ho Dong Baekjeong, one of the most popular Korean Barbeque restaurants globally, established their new franchise with limited beer selections for only 4 kinds in Koreatown of New York. Our goal is to use the simulation system and to find the most profitable business strategy in opening a microbrewery in this restaurant. This report not onlyincludes detailed analysis regarding the 5 most important strategies of a business, which are Marketing, Innovation, Operation, Financial management, Human resources, but a final conclusion as well. After analyzing the simulation data, we agreed that it’s a sensible businessdecision to open a microbrewery in Kang Ho Dong Baekjeong.BASICINFORMATIONRestaurant name: Kang Ho Dong BaekjeongWebsite: Location: 1 E 32nd St. Korean town, New YorkCustomer group:Local residents (especially residents from Korean town), Students (especially international students), TouristsThis year’s Rating on yelp:3
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AD 715 Term Project- Microbrewery in Kang Ho Dong BaekjeongThe overall rating on Yelp:Main Competitors:Other Korean BBQ restaurants and bars in the nearby area.1. Soju haus 2. Her Name is Han 3. Take 31 4. Jongro BBQ 4
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AD 715 Term Project- Microbrewery in Kang Ho Dong Baekjeong5. Dons Bogam BBQ & Wine BarOther Basic information:Borrowing its name from the Korean word for “butcher”, Baekjeong only serves high-quality meats and offers a dining experience that emphasizes the most essential and unique qualities of Korean barbeque. This is a small restaurant with approximately 50 seats and oftenpacked during rush hour.
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