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Healthy You Vending Machine - Business Description and Social Impact - Management Assessment Answer

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Management Assessment Answer

TASK: Executive Summary:
  • Considered a significant aspect of a report
  • Clear, logical and accurate
  • Avoid jargon
  • Must be written last, when you know exactly what you have discussed and recommended
  • Should stand alone. Do not refer to an appendix, do not use acronyms used in the body of the report
  • Do not introduce any new idea in an executive summary that is not in the report
  • Do not use headings
  • Concise summary of the essential content of the report (usually no more than 1 page)
  • Why?
Background and purpose of the report
  • What?
Key findings
  • So what?
Most important implications &/ recommendations.
  • Introduction: (200 words)
  • Essential background information to provide a context for the report
  • State the terms of reference (what, where, when) + objectives and purpose
  • How the report will be approached
  • Clarify key termsOutline of the report’s structure
  • Overview of the sections and their relationship to the research topic.
  • Business Description and Social impact
Healthy You Vending is a nutritional distribution platform that specialises in making healthy snacks, drinks and food products via vending machine to consumers across North America. They started as a small business just over 17 years ago. The business actually started by building small routes of candy gumball machines and offering these opportunities to others. As years went by, the company slowly changed their business method towards the healthy vending machine operation they currently serve today. Currently, the business has sold just over 100,000 vending machines and have over 6000 customers/operators across the US.    The social impact we are aiming to have with the introduction of this vending machine is to combat the issue of obesity. In a study conducted by the Australian Institute of Health and Welfare, it found that 63% of Australian adults were either overweight or obese. We believe that a contributing factor to this statistic is how unhealthy food can be purchased at such convenience.Vending machines are one of these outlets whether they are at universities, train stations or office buildings. We are hoping that the HealthyYou vending machines can fulfill the consumer need of a snack or food on the go, but instead having the choice of a healthy option. From this we are hoping that we can reduce the consumption of unhealthy food and beverages and be a contributing factor to reducing that high obesity rate that was mentioned. After conducting a competitor analysis, these were the points that were taken out of it. One of the main points is that a lot of competing healthy vending machine business did not have any of their machines located at any train stations on the Melbourne metropolitan network. We believe that is a major area where we can penetrate the market and be a real point of difference compared to competing businesses. In a 2018 media release by the public transport minister Jacinta Allan, it was mentioned that an average of 200,000 people use Flinders Street station daily, one of Melbourne's busiest stations. If we were to be the only healthy vending machine option at that station, then the potential for success would be high. Following on, in a survey/study conducted by the Australian and New Zealand Journal of Public Health, the results were summarised as follows. It was found that 87% of respondents thought that the options offered in vending machines were “too unhealthy” with 80% willing to pay the same amount or more for healthier alternatives (Flood 2015). This clearly shows that there there is a societal demand and need for more healthy vending machines and that if we were to introduce these vending machines, there would be a market out there for us to be able to penetrate.
  1. Business Strategy & Marketing Mix
Market Position: According to PR News Wire (2019), the vending machine market will reach a Compound Annual Growth Rate (GAGR) of almost 17% by 2023. In 2018, “Americans held the largest share of the market/accounting for over 42% share”, (Business Wire, 2018). Although, according to Business Wire (2018), Japan, China and South Korea are behind America, they are still major contributors to the vending machine market in APAC; Asia Pacific. Even though, APAC “held the smallest share of the market”, (Business Wire, 2018). Unique Selling Proposition: From analysing each of the competitors strengths and weaknesses, Healthy You Vending Machine’s strength should focus on providing items that are both fresh and long-time. As well as, providing refreshments such as water, coconut water and Kombucha so that the vending machine consists of a variety of food and drink options. Market Positioning: Market potential & Marketing Mix Strategy: The target market for the Healthy You Vending Machine would be aimed at Melbourne’s schools and colleges targeting students.  Price: The Healthy You Vending Machine will feature products ranging in price from $4.00 - $12. (can change the price range) Promotion: - Coupons handed out at universities and schools, offering discounts to students in hoping to create awareness for Healthy You Vending Machines. - Social media accounts on Facebook and Instagram will be created to connect with consumers and gain a following. - Flyers will be handed out in areas where the Vending Machines are situated to students and the public. Place: Swinburne University and Melbourne CBD Train stations Launch Strategy & Brand Recognition Potential profitability of the business and attractiveness to investors Initial Investment Initial investment is our money to start up our business plan. In order to buy our own equipment, new healthy products and upgrade information technology, we need to capitalize some money. This money may include the investors’ money, or may be borrowed form a variety of sources such as family, friends or banks. In this stage, we have to figure out how much we put as our capital in order to get a return on the investment.  We have attached a table of amounts how we categorized our investments. Profit Formula Our profit equals to the business revenues minus expenses. Earning profits is very important for a company to establish in the market. As a small business, we have to secure financing from banks, investors and attract investors to fund for our operations. This step helps us to grow our business. We cannot remain in the market without making profits. Since we are a small business we must consider how our business operations are expanding throughout the Healthy vending machine market strategy.  In order to make a success business proposal, first we have to identify our expense and revenues according to our operations. Since the healthy vending machine is not under a franchise system, we don’t have to pay any cost as royalty fees. Here we attached other expenses and revenues by calculating the profit formula. Payback Periods: Growth Rates Stakeholder Charter The most prominent element of HealthyYou Vending is the variety of organic drinks and snack options that is readily available. It is crucial that HealthyYou Vending is fully aware that what is organically promised is kept. As well as, the ingredients being sourced locally. It is imperative that there is evidence to acknowledge this and that it continues. Due to the social impact being of health in relation to preventing obesity in the Australian public and that they consciously choose to grab a healthy snack or drink out of the vending machine. We wish to designate HealthyYou Vending machines around train stations and at universities with full certainty that there are no abuses of labour. As there will be quality safeguards into contracts ensuring that ethical standards are not being breached and the safety for others. Laws and regulations will also be abide by and every year the vending machines will be checked by professionals to ensure that they are in line with the policies. As well as, making sure that any faulty equipment is regularly checked and recorded. All the foods and drinks available in the HealthyYou Vending machines will be locally sourced from suppliers in Australia and that we support our locals. As well as, paying them a fair amount for the bulk items which goes alongside with our supply chain. For the manufacturers to have livable wages and that as a business we are not being stingy and instead that we respect and thank them for their services with an above average wage. For any vending machine it is commendable that they are energy efficient. Thus, implementing energy efficiency in our vending machines caters towards the environment by reducing “the amount of greenhouse gasses the [vending machine] produces”, (City Green, 2016). Which ultimately “reduces the impact of climate change, both locally and globally”, (City Green, 2016). Which can be identified as a second social impact which is not as emphasized compared to the social impact of reducing obesity in Australians
  1. Conclusion: 
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