Shot Case: Nothing to Offer
In this short case, nothing to offer covers the lack of venture uniqueness faced by George Vazquez. The plan for the new venture is to open a pizzeria near a local university with other major competitors. For instance, the National Franchise unit has a menu consisting of Pizza, soft drinks, salads, and desserts. Moreover, it provides door-to-door delivery, hence capturing 40 percent of the students’ market. Another point to consider is that a food store that offers quality food and only in-house services is still a major competitor of George’s plan. The last competitor is the pizza wagon that carries pre-cooked pizzas. On the contrary, the potential investor in George’s case seems reluctant because there is nothing new George has to offer the market. Will George’s plan to combine high-quality food, in-house service, and door-to-door delivery help him win 15-20 percent?
According to this short case, George needs to recognize some critical factors like research resources and network in the market, consideration of how the food safety management systems operate and the commitment to the product from the students’ market. In support of the resources and network, it centers on control studies linked to the health benefits of functional foods on consumer acceptance. On Georges’s plan for high-quality food and in-house service, through the resources and network, this research would guide him to understand what his consumers (students) would expect. Therefore, enough resources are expected to support the production of high-quality on his current plan. Food safety will assist George in getting a standardized food safety management system, for example, GMP.
In addition, George should consider the management commitment while setting up his business because it is considered the best in supply chain management. Concerning investor’s comments, there are more chances of George failing in his first attempt at business. Major competitors surround the market, while George has nothing unique to offer, increasing the chances of failure. According to his investor, George should consider another product to introduce to the food market instead of the pizza plan. All the competitors have Pizza as one of their food services on their menus. For George to succeed, he must consider the major critical factors as suggested on the previous page. Companies can also go through the GMP-HACCP and ISO 22000 certification processes to guarantee the continuance of such a system. Notably, uninterrupted and frequent monitoring by a neutral third party is necessary for certification.
The feasibility criteria approach is considered as an accessibility towards one’s proposed project, for instance, George’s proposed new venture. This new proposal will determine the success of the pizza business to be initiated in the market. (Sampaio, 2009) The main idea for the new business to prosper with this approach is that George is supposed to target market attractiveness and make the business timeliness. According to theory, this study offers five variables that can account for a business’s success or failure in producing high-quality goods.
Different variables can be used as performance metrics by businesses. Companies in this situation need to develop performance metrics according to the critical success elements of the business. (Macheka, 2013) In the context of research resources and networks, for instance, an organization may employ performance metrics, such as tracking the number of external research collaborations or credentialed researchers working for the organization over time. Third, government policies that encourage the expansion of the functional food industry can be developed using the research findings.
The government may create a competitiveness index for the functional food business using the five critical success factors. (Macheka, 2013) Mainly, the government needs to make top management more conscious of the value of quality, help put in place a system for managing food safety, support networks and resources for research, make sure that appropriate raw materials are available, and make it easier to get information about what customers need. Mainly, the government needs to make top management more conscious of the value of quality, help put in place a system for managing food safety, support networks and resources for research, make sure that appropriate raw materials are available, and make it easier to get information about what customers need. Following the recommendations on previous pages, George can stand a chance of winning the 15-20 percent as planned.
Regarding the main ambition of this research, it can be concluded that Management commitment, research networks and resources, food safety management systems, availability of an appropriate raw material supply, and customer demand information are critical success elements in producing high-quality functional foods. (Macheka, 2013) The aspects that functional food manufacturers must consider to provide consumers with high-quality products are finally identified in this study. There has yet to be much comparable research done before. (Guiné, 2020) Most studies on functional food quality consider consumers’ acceptance of the product.
Therefore, understanding the critical factors is one goal for the success of Georges’s business. They subsequently broaden the findings and explain why the key factors are essential in the food industry.
Reference
Sampaio P., & Guimarães Rodrigues, A. (2009). ISO 9001 certification research: questions, answers and approaches. International Journal of Quality & Reliability Management, 26(1), 38-58.
Macheka, L., Manditsera, F. A., Ngadze, R. T., Mubaiwa, J., & Nyanga, L. K. (2013). Barriers, benefits and motivation factors for implementing food safety management system in the food sector in Harare Province, Zimbabwe. Food Control, 34(1), 126-131.
Guiné, R. P., Florença, S. G., Barroca, M. J., & Anjos, O. (2020). The link between the consumer and the innovations in food product development. Foods, 9(9), 1317.
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