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Message: <blockquote data-quote="AR-law" data-source="post: 133846" data-attributes="member: 27775">PESTLE<ul> <li data-xf-list-type="ul">political <ul> <li data-xf-list-type="ul">tax benefits for small/hospitality businesses</li> <li data-xf-list-type="ul">particular zones etc may be eligible</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">economic<ul> <li data-xf-list-type="ul">declining disposable income (rising living costs primarily caused by high energy prices and increasing rate of inflation)</li> <li data-xf-list-type="ul">may impact short to medium term future of the business - less customers by volume / frequency of visits</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">social<ul> <li data-xf-list-type="ul">coffee is a popular product</li> <li data-xf-list-type="ul">prevalent cultural trends should influence the product offering (primary and complementary), target market (ensure appropriate to location) and the design & branding</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">technological<ul> <li data-xf-list-type="ul">digital kiosks should be considered to reduce service times<ul> <li data-xf-list-type="ul">note: the effectiveness of this measure requires at least medium levels of patronage and may compromise consumer experience</li> </ul></li> <li data-xf-list-type="ul">mobile phone application - integrate loyalty programme, pre-orders, similar functions to kiosks </li> <li data-xf-list-type="ul">product recommendations by AI programs<ul> <li data-xf-list-type="ul">note: personalisation would require data collection - this is often a pain point for consumers, so should not implement unless/until it’s a near-seamless interaction (eg by phone app)</li> </ul></li> </ul></li> </ul><ul> <li data-xf-list-type="ul">legal<ul> <li data-xf-list-type="ul">food - health and safety</li> <li data-xf-list-type="ul">rules on refunds etc comply with consumer protection regulations</li> <li data-xf-list-type="ul">suppliers are not in violation legal ESG standards</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">environmental<ul> <li data-xf-list-type="ul">suppliers - resources are sustainably farmed and processed/manufactured</li> <li data-xf-list-type="ul">also suppliers would ideally act responsibly in line with high ESG standards (consider labour exploitation/wages, child labour etc)</li> </ul></li> </ul>SWOT<ul> <li data-xf-list-type="ul">strengths<ul> <li data-xf-list-type="ul">should focus on: strong location (anchor in immediate vicinity, medium to high traffic); optimising customer experience through product offering and quality levels according to intended/actual customers (depending on the stage of development); loyalty programmes</li> <li data-xf-list-type="ul">less important, but beneficial: integrate digital kiosks/mobile apps to reduce service times (thereby improving customer satisfaction); a drive thru would serve the same purpose in an even more effective way, but feasibility and prudence depends on physical restraints, car traffic in the area and lease terms</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">weaknesses<ul> <li data-xf-list-type="ul">should absolutely avoid: low-traffic areas; competitors in vicinity; bad lease (terms on cost allocation, enjoyment)</li> <li data-xf-list-type="ul">suppliers - ensure reliability (avoid political instability etc) and explore alternatives; ensure appropriate risk allocation in contract (though bargaining power to achieve this is limited by the low-volume nature of supply orders, given the business is a single coffee shop)</li> </ul></li> </ul><ul> <li data-xf-list-type="ul">opportunities<ul> <li data-xf-list-type="ul">Focus on getting the factors in the Strengths section right and hope for the best.</li> <li data-xf-list-type="ul">zero hour contracts and other flexible working arrangements are likely to be more acceptable to workers given current macroeconomic conditions - adoption would enable the business to minimise fixed costs <ul> <li data-xf-list-type="ul">nevertheless, there are various ethical considerations underpinning the decision to deploy such employment/human resourcing strategies</li> </ul></li> </ul></li> </ul><ul> <li data-xf-list-type="ul">threats<ul> <li data-xf-list-type="ul">cost-of-living crisis - diminished potential revenue (number of customers and visit frequency)</li> <li data-xf-list-type="ul">ESG standards may change - may have to to comply with more than the current minimum legal standards (though this is highly speculative and there is no immediately advisable timeframe within which developments would occur)</li> <li data-xf-list-type="ul">large chains implementing recommendations etc via AI programs with access to massive amounts of consumer data - could enable better customer experience (again, speculative)</li> </ul></li> </ul></blockquote>

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