Research Reflection Report: Case Study for Ngone Cuisines in Vietnam

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ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

Table of Contents

ACKNOWLEDGEMENTII

DECLARATIONIII

EXECUTIVE SUMMARY1

INTRODUCTION2

Introduction2

Significance of Developing the Business Plan2

Rationale3

Aims and Objectives4

LITERATURE AND SOURCES6

THE BUSINESS CASE9

Our Business: Products and Services9

Management Team and Personnel12

Marketing and Sales Strategies14

Strategy Pyramids15

Marketing Mix15

Review Current Position16

Assumption Setting19

RESEARCH METHODS AND PROCESSES20

Research Design for Business Case20

Reliability21

Validity22

Ethical Considerations for Respondents22

Statement of Future Assumptions23

FINDINGS AND OUTCOMES24

Analysis of Survey24

Interpretation25

Feasibility and Viability of Plan26

Outcomes for Key Stakeholder Groups27

Resource Implications27

Resource Limitations30

EVALUATION OF BUSINESS DEVELOPMENT PLAN32

Working Capital Requirements32

Financial Aspects33

Recommendations35

Promoting Innovation35

Encouraging an Open Environment35

Responsiveness to External Factors36

Decentralization36

Significant Innovation Approaches and Strategies37

Our Knowledge38

Our Learning38

Barriers Met39

In Undertaking the Research39

In Completion of the Project39

Critical Thinking and Our Ideas42

CONCLUSION44

REFERENCES45

APPENDICES50

Questionnaire50

Pro Forma Income Statement52

Pro Forma Balance Sheet53

Pro Forma Cash Flow56

Estimated Highs and Lows of start-up Costs60

Break-even Analysis61

Vietnamese Menu Guide for “Ngone Cuisines”62

EXECUTIVE SUMMARY

The service industry, sometimes called the tertiary sector of the economy, consists primarily of the sale of “intangible goods.” Employing a greater part of the workforce than the primary (agriculture and mining) or secondary (manufacturing) sectors, the service industry is the source of soft-sector employment such as the hospitality industry, restaurants, healthcare and hospitals, real estate, legal and other professional services, education, and the media. “Service industry” and “service sector” are to be understood differently than “service economy,” which is a model of doing business in which service can be emphasized even though the core of the business is the sale of physical goods. This project is based on creating a business plan for a new restaurant business in Vietnam by the name Ngone. The project aims to create an in-depth background about the new business set-up in Vietnam and provides guidance to the management about whether the business should be executed or not. It is aimed to create sound business understanding as well as create an orientation of the new venture in a relatively new setting and locality. The business conduciveness and the viability of the market offer immense opportunities for the restaurant business to flourish in Vietnam with all its proposed forecasts. The business aims to create synergies in the sector and account for a significant amount of organizational revenues in a variety of areas. We conducted a survey with a hundred respondents taken randomly from the busy capital city of Hanoi in which we found out that the people are welcoming the idea of having a new business in terms of a restaurant and deems it acceptable, keeping their demographic structure in mind.

INTRODUCTION

Introduction

This business development plan is based on opening a new business in the restaurant industry of Vietnam. As a consultant to management, I will present the initial planning of ...