Linda's Bed and Breakfast: A Case Study on Business Strategy and Growth, High school final essays of Entrepreneurship

Download Linda's Bed and Breakfast: A Case Study on Business Strategy and Growth and more High school final essays Entrepreneurship in PDF only on Docsity!

Linda’s Bed and Breakfast

Case Study

AY 2022-

Group 5 BSCA 1A Members: Payot, Mariane Regidor, Jamie Regino, Jaz Ann Therese O. Reyes, Gil Audeian Santos, Diom

1.0 Viewpoint The main viewpoint of the study is Linda Smith who is the owner of the Bed and Breakfast. 2.0 Central Problem Linda Smith was the owner of Linda’s Bed and Breakfast, which opened on Westside in August 1994. She assessed the current peak season as well as the upcoming off-season. The peak season starts from the mid-May to mid-October. While the off-season was from the end of October to the end of May. Her business has been doing well for the last two years, However, income is slowly decreasing during the off-season. Linda was concerned about increasing her earnings at the same time and wondered how she would manage it. Linda had no business strategy to grow her own business. She lacked a proper business plan. 2.1 Cause

• There is no business strategy.
• There is no proper business plan.
• She doesn’t have any employees that will help her to operate the business. 2.2 Effect
• Income is slowly decreasing during the off-season.
• The number of people who want to visit, or what we call customers, has decreased. 3.0 Statement of Objectives Need:
• Gaining market share contributes to a business’ reputation being improved. A positive reputation contributes to increased sales and a more extensive consumer base.
• Though Linda has occasionally hired a student to help on a busy weekend, she needs to hire full-time employees to be accommodating. Must:
• Linda must be very wise at all times of the situation, and she must be the amount of money Linda has made from a particular service is known as her profit, which is calculated by deducting costs from sales and establishing the profit margin. For Linda to create sales techniques and spark her clients' attention, it is crucial to assess how good Linda's services are.
• Linda must maintain their current markets and prevent the loss of its existing customer base due to intense competition by fostering more substantial relationships with its current customers. Additionally, this raises client happiness, which promotes word-of-mouth growth of the customer base.

• As a whole residential facility must be maintained, a bed and breakfast's operational expenses are thought to be expensive. 4.2 External As the internal environment requires strengths and weaknesses, this context necessitates the assessment of opportunities and threats in the case of Linda’s Bed and Breakfast business. It aims to determine the existing factors such as external competitive advantage against market competitors as opportunities and threats such as shortages. That could cause deterioration from the outside environment. 4.2.1 Opportunities
• A bed and breakfast has few options besides purchasing other properties that can be used for these things.
• A bed and breakfast may increase its prices by including extras.
• Most people who want to grow their bed and breakfast businesses commonly do it by opening up new locations. 4.2.2 Threats
• The only significant problem facing bed and breakfast establishments is competition.
• Despite economic and technological advancements, many businesses have been operating in the same capacity for hundreds of years, and they will do so indefinitely. 5.0 Alternative Courses of Action ACA 1: Her colleagues said her pricing was somewhat high, but she said it was based on comparing what her competitors are offering. People who object to her price are usually aware of the nature of her competitors' goods and services and how they differ from hers. Know who her direct rivals are and how her product or service stands out from theirs. Always keep the benefits of purchasing her product or service in mind when giving a presentation. The odds are against her when a price is a simple black-or-white choice. She can make the sale better if she can include options. Make sure she offers options at various pricing points. ACA 2: Linda must create an action plan that aids the slow business of Bed and Breakfast during the off-season. She needs to provide solutions to maximize and utilize her marketing strategy in the tourism industry because it cultivates brand credibility and builds trust

among target customers. She also needs to know her ability and quality as an entrepreneur to ensure that Linda is ready or not ready to expand her business. ACA 3: Linda must be very wise at all times in the situation, and The only way for Linda to fix the problem with her business is to find a plan that will make her approach to managing it stand out from the crowd. Linda can also conduct surveys or listen to people's ratings to learn what areas of her business require the most work to succeed. Because most people use social media and are constantly looking for new experiences, Linda can also develop social media. It can give her company uniqueness by providing customers with a more retro and trendy impression. 6.0 Recommendation Linda can gain extra knowledge about solving these issues by communicating with people involved in the business. On top of this, Linda must ensure she listens to her customers to figure out what to improve because specific individuals are interested in trying new things. In line with this, Linda can make her style more unique. 7.0 Detailed Action Plans In order to make her business more attractive to potential customers, Linda needs to make investments in her business. For example, you may change up some of the decorations so that they are more noticeable to the eyes of the people, plus the fact that people desire something new that is different from what other people generally see. To give the impression that Linda put in a lot of effort to build her business, she has to invest more money. People will return to Linda's restaurant because of the delicious food, which Linda can achieve by hiring a good chef. Also, Linda can purchase more fresh and high-quality ingredients, allowing her to cook even tastier dishes. ACTIVITY PERSON RESPONSIBLE BUDGET Activity #1 In order to bring in new clients, the interior should be made to look more appealing.

INTERIOR DESIGNER 2,000 - 3,000$