Business

Due to the advent of globalization and the expansion of world markets, the global market place has rather contracted and there are associations between all parts of the world. This progress into technology and modernization has given a great boost to new companies entering the market. Since there is growing trade among different parts of the world and geographical barriers are less than ever before, it is easier for companies to enter the market and establish themselves within the target market that they wish to cater to. This paper is a business proposal of a cupcake bakery called cupcake wonders. It would outline all the factors considered while starting up a new venture. Moreover, it would describe the market of the business and how it would approach its consumers.

Discussion
The name of the business is cupcake wonders. It is a bakery that is providing with the best quality cupcakes that are of different shapes, flavors and outlooks suitable for various occasions and attractive for all kinds of cupcake lovers. The business is a sole proprietorship and currently owned by a single owner and multiple workers responsible for different aspects of the business. Cupcake wonders is engaged in the production, sales and distribution of cupcakes for every occasion. The sales can be made on a retail basis to individual customers at any time of the day or in wholesale quantity for a specific function or occasion. The company would currently cater to regional customers and would deliver its products within a specific range as the business is new and needs time to set up its branches and delivery transportation. The mission statement of the business is to provide a new edge to the cupcake industry by keeping a high standard of quality and a wide range of flavors. At the present time there would be four cupcake bakers that would be responsible for the production of cupcakes. One employee would be in charge of the transportation and delivery while there would be three workers for delivering the products to their destination. Finance would be controlled by two employees that would report to the owner and the marketing team would consist of four personnel.
The cupcake industry is a relatively new one, however, there has already been a boom in this industry and numerous cupcake stores have opened up that are leading to the saturation of the cupcake industry. This has, nevertheless, not caused the cupcake bakeries to cease from existing. The cupcake industry emerged with the prominent sprinkles that has several stores in America, this was followed by crumbles and hence, the cupcake industry materialized. The abundant cupcake bakeries all around the country has not exactly caused a decrease in the love that people have for this treat. There is still a demand for cupcakes consumption either as a casual treat or in occasions such as birthday parties and weddings. The cupcake industry is now becoming more inventive, creative and agile towards the wishes of the consumers and due to the low set up and production costs the cupcake bakeries can spend more resources over creating a competitive edge. Cupcakes can be added with different toppings to make them different and in a way new to the consumers. Earlier, cupcakes had a standard form and flavors but with the passage of time toppings such as frosting, sprinkles and candies are becoming part of the general menus. It can be concluded form the trends of the market that the cupcake industry is one that is growing rather than contracting with time. The affordability, size and diversity offered by cupcakes overpower the advantages of traditional cakes hence, this industry is one that will succeed more in the future. Even though the cupcake industry is well established and cupcakes stores are becoming a common store in each area, there is still a growing entrant rate into this field. The trend of cupcakes in birthday parties, weddings and other occasions is still growing and also the pace of new coffee houses is at an up rise.
The cupcake industry is increasing rapidly with more and more cupcake bakeries emerging. Market leaders such as sprinkles and crumbs are leading the cupcake industry with the highest number of stores. There is however, an advantage of entering the cupcake industry as the market of cakes is saturating. Cupcakes are considered more feasible and convenient. New trend in birthday cakes is to make cakes with many cupcakes together which reduces the need to cut the cake into equal pieces. Consumers are attracted towards products that are more convenient, easy to consume and more striking. Since, the cupcake industry is at a boom there is a need to come up with more differentiating strategies that make the cupcakes offered by cupcake wonders to be more striking for the consumers. The cupcake industry needs to be accessible by the consumers not only as a bricks and mortar outlet but also available on the internet for consumers to be able to order their products from anywhere at any time. The key success factors of functioning in the cupcake industry is to make use of the new marketing tools and remain agile to the ever changing needs of the consumers.
Due to the advent of globalization and the advancement of technology and communication, Business is now more sophisticated, concentrated and strategic. There is a growing need of knowledge and expertise. One of the key elements in running a successful business is to run a competitor analysis in order to assess the strengths and weaknesses of the business and the areas over which the business needs to influence its major strategies. By having information of competitors it is easier to come up with strategies that could create and maintain a competitive advantage over the rivals, hence, giving the consumers what they desire and becoming more successful in the industry. The cupcake industry is one that is growing rapidly in term of competition as more and more bakeries are focusing on cupcakes rather than pastries or cakes. Coffee shops and cafes are also expanding to include cupcakes in their menu as it is something that is gaining more attention from consumers as time progresses. Large retailers such as sprinkles and crumbs are leading the market, however, this does not mean that the market is saturated. With the help of appropriate marketing and promotion tools its possible to becoming one of the leading cupcake stores seeding to further expansion into other areas.
Cupcake wonders would strive to be available to consumers at all places for their ease. Facebook and twitter which are the leading online social forums would provide customers to access the bakery pages giving the details and latest special offers. Cupcake wonders would have an interactive website that would not only give contact details but provide a visual experience of the attractive menu offered by the bakery. Pictures of the various cupcakes would further attract consumers who would be offered with the option of placing their orders online and getting their deliveries on their desired date. Cupcake wonders would work towards creating a trend and  inclination by moving customers towards the cupcake world. Cupcake is not only a teatime snack but is a great present for international buyers who may want to deliver it to local addresses.
In todays world, good marketing and promotion are the key factors that decide the success or failure of a business. As the competition increases in the cupcake industry it is becoming more and  more important to differentiate the brand from other cupcake bakeries and provide customers with a unique experience. A number of marketing and promotion strategies can be used. It is important for every bakery to provide the customer with a comfortable ambience and products that they would like at all times.  Initially it is vital for a newly established business to get the word out and make itself known to the potential customers. Cupcake wonders can send out flyers and newsletters displaying its menu items to intrigue the customers towards trying them. Special offers and discount coupons can be offered to consumers in order to give them something extra. Advertising at the right place, the right time and to the right customers is significant for the business to grow and mature.
The target market of cupcake wonders would be diverse. The bakery is planning to cater to visitors who would want to purchase cupcakes for their suppers or a normal teatime snack, and it would also cater to customers who would want to order for parties, wedding and other occasions. The cupcakes could also be delivered through order placement. Hence, the target market is children and youngsters who are more prone towards snacks such as cupcakes. the price that is charged it based upon the cost factors of the business. Such as the cost of producing the cupcakes including the ingredients, baking, packing, equipment costs and the salaries of the staff. All these costs combined along with the profit margin would determine the price that would be charged. The price that would be charged also depends on the market and the target consumers based on what the competitors are charging and what the customers are willing to pay. The location of the bakery is of the essence in order to reach the target market. The bakery should be located in a region that is accessible to most people. When the business begins to expand it can open its branches in more locations and also stock its products in cafes and super markets.
The management of an organization is a vital part of its structure without which the organization would not have a sense of purpose or direction. It is not easy to precisely define the role of management. It is easier to recognize a business that is poorly managed than it is to pinpoint the specific features of good management in a successful business. Badly managed businesses will be poorly organized, will often have poor staff motivation and resources would be wasted or inefficiently used. (Stimpson, 2002) The role of managers involves the well being of the employees. In current conditions of rapid change and rising staff expectations of their experience at work, the effective management of people has become a major determining factor in influencing the success of business enterprises. Cupcake wonders professes to consider its employees their most important asset  as they are responsible for the production of quality cupcakes which are critical in terms of taste, also the employees interact with the customer and in order to maintain a better goodwill the employees are expected to provide good services to the customers. The cupcake chefs would have to experiences in baking cupcakes and need to have a perfectionist view of working in the kitchen. Other staff must pertain educational background in the fields of job that they are employed under.