Exploring the case of Dough Pizza as a hypothetical company expanded knowledge on business principles. The four-course cognate offered high value through various assignments and broadened the range of perspectives used to consider business plans as an activity overall. The most crucial takeaways from the course include creative thinking, problem-solving, the application of business principles to practice, as well as the general knowledge of studied topics and subjects.
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Dough Pizza has developed as a successful restaurant offering high-quality dishes at affordable prices. Sub sandwiches and pizzas are the key foods that customers can buy at the restaurant. The company has placed its focus on fostering positive relationships with local customers in Lynchburg, VA, being one of the go-to places where the community comes to eat and spend some time. The organization has implemented effective marketing campaigns through the years of its development by engaging its workers and loyal customers. To facilitate market expansion, considerations of entering a new market were associated with Dough Pizza creating a chain of mobile food trucks to serve customers around the city. Such a decision was based on the growing value of the food truck industry as well as the possibility to offer a unique market proposition (Statista, 2019).
The four-course cognate provided the immense value of the overall exercise through broadening the range of perspectives used to consider business plans as an activity overall. Dough Pizza is a business developed through creativity and rational decision-making, which allowed to look on market principles and concepts through the lens of knowledge development. The understanding of business operations enhanced with the help of assignments that called for the development of innovative solutions and approaches to broadening the impact of the hypothetical company.
The three critical success factors for which an organization should plan and which it should consider include risk management, productivity, and sustainability (Guillen & Garcia-Canal, 2012). It is important to understand and plan for risk management because of the need to identify possible barriers and address them in a timely manner; this was true for Dough Pizza also. Productivity is a success factor that implies core team development and requires a focus on company achievement (Llopis, 2012). Sustainability is necessary because due diligence and the assurance of the quality of products and services guarantee a positive brand image and increases customer loyalty.
The four most important takeaways from the exercise are creative thinking, problem-solving, the application of business principles to practice, as well as the general knowledge of studied topics and subjects. In developing the strategies for the business, creative thinking was the primary competence necessary in order to present a realistic outlook on the problem. Problem-solving was needed for identifying issues that a company faces and developing appropriate solutions for reaching prosperity. The application of business principles was also imperative because without them it would have been impossible to write cohesive proposals for assignments. The general knowledge expanded during the course as it was needed to consider multiple perspectives and scenarios.
Psalms 1 says that prospering is possible through the path of righteousness and love for God. “He will be like a tree firmly planted by streams of water, which yields its fruits in its season and its leaf does not wither; and in whatever he does, he prospers” (Psalm 1:3). This quote also applies to business ventures, thus suggesting that hard work – streams of water – can grow anything and lead it to prosperity.
Guillen, M., & Garcia-Canal, E. (2012). Emerging markets rule: Growth strategies of the new global giants. New York, NY: McGraw-Hill Education.
Statista. (2019). Industry value of food trucks in the US 2014-2020. Web.
Llopis, G. (2012). 6 ways successful teams are built to last. Forbes. Web