An Individual decision making process analysis project Essay

An Individual decision making process analysis project - Essay Example This business project involves the provision of catering service to people who intend to hold parties at their houses. This might involve anybody from young children, teenagers and adults. Also all sorts of catering services required will be made available via the workforce available from the company. The reason why the ‘time to party’ project looks viable is that many people like to have parties in the present time. However, most of these people do not have the time and manpower to organize and execute such a celebration. However, they might have the cash to pay for the service and that is where this project fits in. however, there is one unique feature about this business that separates if form the others. Time to party will prepare the ordered food away from the party venue and transport it there. This will help to avoid privacy invasion and will reduce the amount of activities in the venue. This will also help utilize other resources that are not in the venue but are available in the company. This is therefore an investment with a bright future. Business objectives There are two main objectives that the ‘time to party’ project aims to achieve. I. Make good profits from the catering services provided. II. Become the biggest home catering services in Sheffield The enlisted objectives provide just but the big picture. All will agree that much profits means expansion of the business. When the business expands and the name is well established, there will be much room for development in this project. In addition, becoming the biggest catering company will allow room for capacity to hold many events at once without breaking a sweat thus better profitability. Competitors In the world of business, there will always be other businesses to battle with for the market share and reputation. This greatly affects not only the profitability of the project, but the ability to run efficiently and stay in the same market segment. There are seven cater ing service providing companies in Sheffield I. Organic fusion II. The tiffin company III. Carols catering service limited IV. The milestone on the move V. Hazels catering limited VI. Coco catering limited VII. Deli venture catering limited The largest competitor for the ‘time to party’ project is the coco catering limited. This is a well-organized and well-funded business institution. They have a high profile physical and online presence and consumer preference. This is due to their flexibility and the high quality services they provide. They also have a well-developed website that gives all their information and allow for special bookings. However, they do not offer an online payment and ordering system for home deliveries on a daily basis and this is one of the loopholes that ‘time to party’ will exploit. In addition, time to party will offer a new service that is not on their service list. With these two major issues, ‘time to part’ has the power to stand against coco catering. Target audience This project mostly targets people who have the desire to celebrate many events, have the money to do it but lack the time, resources and man power to ensure a successful execution of an event. This will include adults that work and university students that hold celebrations such as birthday or any other. This is the majority group that falls among the top desired clients. However, the company will