Table of Contents
Introduction 2
Situation Analysis 2
Data Analysis 2
Break Even 3
Possible Income 4
Key Issues 4
Alternatives 5
Full time Job 5
Student Loan 6
Evaluative Criteria 6
Recommendations 7
Action Plan 7
Appendix I 9
Appendix II 10
Works Cited 11
Wing and a Prayer Case Study
Introduction
Making money for university can be a difficult task when you have limited months in the summer. Stefan and Zach have big dreams and even bigger expectations of their bungee jumping idea. We are here to take a deeper look into their business venture as well as come up with some alternatives they may want to consider. We will look at the benefits, costs, problems, and key issues they may come across in order to be successful.
First we will look into an analysis of their bungee jumping plan.
Situation Analysis
Any business opportunity should be analyzed by assessing both the internal and external environmental factors. We need to take a look at the bungee jumping business’s strengths, weaknesses, opportunities and threats (SWOT). The table below shows a SWOT analysis for the bungee jumping business.
Table-1
SWOT Analysis
Strengths
Weaknesses
Finished Bungee jump training course
Experience in the Entertainment Business
Experience with crane operations
Outstanding safety
Has a creative partner
Without spotlight, forced to operate only 30 min after sunset and 30 min before sunset
Little demand at the beginning of the week.
Owners are young and may have trouble getting all necessary documents together
Opportunities
Threats
Can haul crane to various festivals and towns (mobile business)
Can expand the business to 2 cranes if successful
Not enough money
Other bungee jump operations in the area
Only has 8 weeks to get everything together and have a successful season
Data Analysis
In analyzing the data the case study provides, we have come up with a break even analysis and a possible income analysis.
To begin our...