30EE Assignment 1.3 on entrepreneurship
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Decisions on prices and costs year 03 and reflections
Check the page Decisions. During three years you have to take a number of decisions
- on prices (five decisions)
- on costs to be made (five other decisions)
Situation
On the page operating review you can see how the Emerald Forest has been managed in the past. But now you also have the results from year 1 and 2: use them. Not everything might be clear or logical, as in real life. But there are enough lessons learned. Look at the comments of your coach, maybe look at marketing research (if you bought that from Top Research). Stick to your strategy: do not change thing too dramatically. All choices and boundaries are as in year 1 and 2 and explained on the page decisions. You will make all these decisions now for this third year.
Goal
Making new decisions which fit-in with your new strategy and which will keep the Bergman's as well as the customer satisfied. Take into account what you get from the results in year 1 and 2. Regarding the costs: all of the five cost groups are additional again to the existing fixed and variables costs. All of your costs only have effect during one year. Be careful to have a balance between the total of the (new) costs, the prices and your strategy. In the end, the idea is that you keep the profit on the level the hotel used to have in the history.
Deliverable
Fill out all of the ten decisions in your Team File year 3.
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL or links in, make basic calculations, try to predict the outcome of your decisions. And, look back at year 1 and 2.
Especially looking at the costs: these are going to be additional:
- what are you exactly going to spend money on?
- what do you think it will bring your hotel? Be concrete, also calculate.
Assessed elements
- Are all choices made and within the boundaries set?
- Is there a clear link to the strategy?
- Are the arguments valid?
- Is it clear what the costs are spend on exactly?
- Are there basic calculations done to show the effect of the choices at each choice?
- is there a connection to what happened in year 1 and 2?
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