ScenarioWanda has never thought of herself as running a business, although it certainly seems to have turned out that way. Originally she really just wanted to give herfriends and family an alternative to cheap, low-nutrition dog treats. When you explain to Wanda that she has created a business with stakeholders and all ofthe internal workings and structure of a business, she just stares at you blankly. So, you tell her to just hang on and you will explain this in more detail.Your TaskUsing a visual or graphical representation, show Wanda what her business looks like from the inside and the outside. Include forces in the externalenvironment and internal functional areas, as well as both internal and external stakeholders. In other words, what components of a business have cometogether with Wanda's work?Like any graphical representation, there needs to be an explanation of what the graphic represents! Along with the graphic that you create, provide Wandawith a written description of the following:• The components of her external environment• Internal functional areas and their purpose• Internal and external stakeholders in Wanda's business

Internal Environment- elements that presents in company's environment internally or describes the…

Answered: Scenario Wanda has never thought of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Your start in the pizza business came in the eighth grade when your father opened the Village Pizza Restaurant. After graduation, you entered the construction business, building homes for more than a decade. But, then, something drew you back. So, you took the family recipes and started your own restaurant, Nick’s Pizza & Pub (far enough away to avoid competing with Dad). Your goal was simple: to build a fun, family restaurant. Nick’s Pizza & Pubs—there are now two—have 26-foot high, floor-to-ceiling stone fireplaces, stuffed bears and moose, “antler chandeliers,” huge aquariums separating the bar and the restaurant, and wood everywhere—oak floors and huge beams recycled from century-old barns. And they’re huge, each seating 320 guests. On a Friday night, 1,500 customers will eat at Nick’s, most waiting an hour for their tables, while having a drink and eating free peanuts at the bar. Those 1,500 customers will eat 600 pizzas, and carryout customers order another 200. Why do…
Suppose a colleague of yours is gearing up to write a business plan for a business she intends to start. She told you she plans to prepare the financial statements first to get that job out of the way before she tackles the rest of the plan. What is the flaw in your colleague’s logic as described to you?
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Assume that you and two friends are debating whether to open a restaurant that will be called Cozy Kitchen. Initially, Cozy Kitchen will open three stores locally, but the business plan anticipates going nationwide within five years. Currently, you and your future business partners are debating whether to focus Cozy Kitchen as a “do-it-yourself” or “do-it-for-me” business. A do-it-yourself business emphasizes the sale of ingredients for predetermined meals which customers can choose from a menu and the ingredients for the meals will be delivered to customers. The customers will prepare the meals themselves at their homes. A do-it-for-me business emphasizes the sit-down restaurant with a take-out meal option for customers. 1. In groups of three or four, discuss whether to implement a do-it-yourself or do-it-for-me business emphasis. List the advantages of each emphasis and arrive at a conclusion as to which emphasis to implement. 2. Provide examples of real-world businesses…

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