JACLYN MAGDALENE C.

TIO

CASE ANALYSIS:

1. Statement of the Fact (Brief Summary)

Mr. Jesus worked as assistant to a well-known beauty salon entrepreneur, gaining skills and
experiences in managing a Salon.
He had a childhood dream and goal having his own Salon.So he left his job and planned and began
his new ventures, JBS is located at the city’s poblacion, along the national highway but not in a
ideal location or strategic location.
He acted immediately without proper business planning.

2. Statement of the problem (One Problem)

Poor Business Planning

3. Solution to the Problem

Business planning typically involves assessing and rectifying the identified shortcomings. Here are
some steps to improve business planning:

a)Identify the areas of weak planning: Evaluate the specific aspects of business planning that are
causing poor outcomes. This could be financial planning, strategic location planning, marketing
strategies, operational procedures and such.

b) Conduct a thorough market analysis: Understand your target market, competitors, and industry
trends on Salons. This will enable you to make informed decisions and identify opportunities for
growth.

c)Set clear and achievable goals: Define specific, measurable, attainable, relevant, and time-bound
(SMART) goals for your business. These goals should align with your overall vision and mission.

d) Develop a detailed business plan: Create a comprehensive business plan that includes a clear
mission statement, target market analysis, marketing strategies, financial projections, and
operational procedures.

e)Seek expert advice: If necessary, consult professionals such as business consultants, accountants, or
marketing experts to provide guidance and expertise in areas where you lack knowledge or
experience.

f) Build a competent team: Hire or train employees who possess the skills and expertise necessary to
execute your business plan successfully. Effective communication and collaboration within the
team are crucial for achieving goals.

g) Regularly review and update the plan: Business planning is an ongoing process. Continuously
review and update your business plan to adapt to changing market conditions, industry trends, and
internal requirements.

h) Monitor and measure progress: Establish key performance indicators (KPIs) to track progress
towards your goals. Regularly assess and analyze your business's performance and make
adjustments as needed.
i) Learn from failures and successes: Analyze past failures and successes to identify patterns and learn
valuable lessons. This will help you make better-informed decisions and avoid repeating previous
mistakes.

j) Stay adaptable: In today's dynamic business environment, flexibility and adaptability are crucial. Be
open to adjust your business plan as needed and embrace new opportunities as they arise.

Overall, improving business planning requires a systematic approach that involves thorough
analysis, sound decision-making, adequate resourcing, and continuous evaluation.

4. Recommendation:

a. Analyze the reasons for failure. This could include examining areas such as poor financial
management, ineffective marketing strategies, operational inefficiencies, or non-strategic
location.

b. Learn from mistakes: Instead of dwelling on the failure, focus on extracting valuable
lessons. Identify what went wrong, what could have been done differently, and what
changes need to be made to prevent similar issues in the future.

c. Seek expert advice: Consider consulting with business mentors, coaches, or consultants who
have experience in your industry. They can provide fresh perspectives, insights, and
guidance on how to address the challenges and move forward.

d. Develop a recovery plan: Use the insights gained from the failure analysis to formulate a
comprehensive recovery plan. This plan should outline specific actions to address the
identified weaknesses and rebuild the business.

e. Innovate and adapt: Consider ways to revamp your business model, products, or services to
align with changing market dynamics and customer demands. Embrace innovation and stay
agile to remain competitive in the market.

f. Focus on customer satisfaction: Prioritize customer needs and ensure that their concerns are
addressed promptly. Enhancing customer service and satisfaction can help rebuild trust and
loyalty.

g. Reinforce your team: Provide support and reassurance to your employees during
challenging times. Offer opportunities for training, professional development, and
collaboration to foster a resilient and capable workforce.

h. Stay resilient and persevere: Business failures are a part of the entrepreneurial journey.
Maintain a positive mindset and use the experience as motivation to bounce back stronger.
Adapt, learn, and persist in your efforts to succeed.

respond and grow from them that will ultimately determine

5. Conclusion:

Proper planning and readiness are crucial when starting and running a business. By thoroughly
planning out your business model, market analysis, financial projections, and operational strategies,
you can increase your chances of success and mitigate potential risks. It is important to have a clear
vision and mission for your business, identify your target market, and develop effective marketing
and sales strategies to reach and attract customers. Additionally, preparing your finances, including
securing funding if necessary, and having a solid understanding of your business's financial health is
essential for long-term sustainability. Furthermore, being prepared for unforeseen challenges and
having contingency plans in place can help you navigate unexpected obstacles. It is crucial to
continually review and adapt your plans as your business grows and evolves to stay competitive in
the market. Overall, proper planning and readiness lay the foundation for a successful and
sustainable business.