SWOT Analysis of Ace Night Club

                Our marketing management team came to an agreement about Ace Night Club’s strengths, weaknesses, threats and opportunities. Our decisions were carefully analyzed before we came to a consensus. Our SWOT chart is shown below, explaining the reasons how and why we decided on each category.

Strengths	Weaknesses
·         Transportation- we will be providing shuttles for students or those who do not have a way to get to our establishment. ·         Location- will be in a location that has very few competitors and a lot of young, college students ready to party. ·         Appearance- will be attractive and classy; setting it apart from other venues. ·         Size- will be spacious, not crammed and uncomfortable. ·         Safety/ Security- will be strongly enforced to ensure the safety of our patrons. ·         Entertainment- there will always be some form of entertainment at our night club. ·         Drinks/ Service- there will be a large variety of alcohol and refreshments for our customers to choose from. We will also be providing excellent customer service. ·         Advertisement- we will utilize all advertisement opportunities such as, club promoters, community gatherings, flyers, radio etc.	·         Finances- since we are a new business we will have it rough financially for the first few months. This is due to all of the payments we will be making to establish Ace Night Club.
Opportunities	Threats
·         Local Artists- will have chances to perform at our club. By inviting local artists into our business we will save money on hiring big time artists for entertainment. This is an opportunity for the performer as well as a money saving opportunity for us. ·         Celebrity promotions and appearances- by having celebrities in our club we will attract more people.	·         Complaints- people complaining about thing wrong in our club will deter others from coming to our establishment over another club. ·         Competitors- competition is always a threat because they may come up with clever ways on how to bring in more customers. ·         Liabilities- if there were to be an accident to occur on our property we could possibly be sued and shut down.

Ace night club- Decision Making

 

Methods of Decision Making	Importance (Scale of 1-10)
Communication	1
Promotes Decision-Making	3
Assigns Employees	8
Encourages Ideas	7
Improves Management Skills	4
Supports Company Policies	5
Participates in the Community	9
Neat in Appearance	10
Honest	2
Stimulates Employees	6

                We chose, as the group management group of Ace Night Club, to order these decision making methods in the order that we agreed was most important to least. Our order of importance was from greatest to least was communication, honesty, Promoting decision-making, improving management skills, supporting company policies, stimulating employees, encouraging ideas, assigning employees, participating in the community and finally being neat in appearance.

                We chose communication as our first method because without communication we as a group would not even been able to come to a good consensus about the order of these decision-making methods let alone run our business successfully. The next most important was honesty because we believe honesty will bring you a long way. Promotes decision-making is also very important to us. We decided that being neat in appearance should be our last concern because you cannot always judge someone based off appearance.

Definitions

Brielle A. McCray

Ms. White

Fundamental Concepts

Definitions

1.       Micro to Macro- is a branch of economics that deals with the performance, structure, behavior and decision-making of the entire economy, be that a national, regional, or the global economy.

2.       Aggregation- used in corporate financial planning, aggregation is a process whereby a number of a firm’s smaller projects are combined and treated as an individual project.

3.       Gross domestic product (GDP) - is a measure of a country's overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living.

4.       Multiplier Effect- The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends on the percentage of deposits that banks are required to hold as reserves.

5.       Aggregate Demand- The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by the aggregate-demand curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide.

6.       Aggregate Supply- Having looked at the components of aggregate demand; we now turn to the supply-side of the economy. Aggregate supply tells us something about whether producers across the economy can supply us with the goods and services that we need.

7.       Production Possibilities Frontier- graph that shows the different rates of production of two goods and/or services that an economy can produce efficiently during a specified period of time with a limited quantity of productive resources, or factors of production.

8.       Indicators- Economic indicators allow analysis of economic performance and predictions of future performance.

9.       Expectations- a hypothesis in economics which states those agents' predictions of the future value of economically relevant variables.

10.   Money Supply- is the total amount of money available in an economy at a particular point in time.

11.   Monetary Policy- the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest to attain a set of objectives oriented towards the growth and stability of the economy. 

12.   Fiscal Policy- Measures employed by governments to stabilize the economy, specifically by adjusting the levels and allocations of taxes and government expenditures.

Macroeconomics

Brielle McCray

Ms. White

Fund. Concepts

Microeconomics

1.       Customer Wants- Unfulfilled desire; Unwilling and detrimental lack of life's necessities.

2.       Law of Demand- Observation that, as a general rule, the demand for a product varies inversely with its price lower prices stimulates demand and higher prices dampen it. Law of demand holds in most instances, except in case of Geffen good.

3.       Law of Supply- as demand increases the price goes up which attracts new suppliers who increase the supply bringing the price back to normal.

4.       Market Demand-Aggregate of the demands of all potential customers (market participants) for a specific product over a specific period in a specific market.

5.       Market Equilibrium-Situation where the supply of an item is exactly equal to its demand. Since neither there is surplus nor shortage in the market, there is no innate tendency for the price of the item to change.

6.       Utility-Pleasure or satisfaction (value for money) derived by a person from the consumption of a good or service or from being in a particular place, and for the maximization of which all economic actions are motivated.

7.       Scarcity-Ever-present situation in all markets whereby either less goods are available than the demand for them, or only too little money is available to their potential buyers for making the purchase.

8.       Opportunity Cost- Giving up one thing in order to gain another.

9.       Production- Processes and methods employed in transformation of tangible inputs (raw materials, semi-finished goods, or subassemblies) and intangible inputs (ideas, information, know how) into goods or services.

10.   Maximization-Choosing the alternative with the best or highest expected outcome, without regard to cost or expense

11.   Elasticity-Measure of the responsiveness of demand and supply of a good or service to an increase or decrease in its price.

12.   Degree of Competition-pressure from other businesses to keep prices down.

The Topical Learning System

Brielle A. McCray

Essential Relationships:

1.      Risk vs. Return- My number 1 favorite quote is, “You gotta risk it to get the biscuit”.

2.      Time Value of Money- Today the dollar will buy you two candy bars, tomorrow it will only get you one.

3.      Future Value- After three years of saving my money, it will be worth much more.  

4.      Present Value- The present is here before you.

5.       Annuities- The restaurant 5 Guys receive an annual annuity check.

6.      Investment Decision- The six investors in my company are very loyal.

7.      Financing Decision- I made the right decision to place x amount of funds into the firm.

8.      Stocks- All the creditors that stand behind me are very secure in their investment.

9.      Bonds – The super glue is bonding me to the floor.

10.   Interest Rates- My interest rates are through the roof.

Club Ace's Mission Statement

         Club Ace is committed to providing the ultimate night club experience to all appropriate ages and groups within the Central Florida area and to all others from across the nation.

Accounting Relationships

1. Accounting- I only have one accountant.

2. Assets- I have two sets of sheets.
3. Liabilities- I owe three people money.
4. Owners Equity- The investors pay their cash up front.
5. Accounting Equation- My cousin was a fifth year accounting major.
6. Transactions- I make transactions the right way.
7. Depreciation- my car is seven years old.
8. Income Statement- When my friends and i played with water balloons they yelled "Incoming"! They always hit me from behind.
9. Balance Sheet- It is not to difficult to stay grounded while writing a balance sheet.
10. Cash vs Accrual- The cash i will have to pay for college will stack up to the ceiling.

Memory mnemonics

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Pau

Lee, from Japan

Denis is a Menace

David doesn't look like David

Courtney hasnt been to court

Brie as in Brie cheese

 Edris sent me an email

Represnts Zimya

Our Business !

ECSTASY Night Club


Co-Owners

• Brielle M.

• Aysha

• Denis T.

• Somari C.

• Zee

Assets

Actual Club

Drinks and refreshments

Parking

Employees

(Bartenders, valet parking, promoters, DJ, etc. )



Liabilities

Paid performers

Accidents in the club

Loss of liquor license due to Under-aged drinkers

My Personality Test Results

Brielle A. McCray


GEB 1440

Ms. White

8/25/10



According to my family relationships test results I already operate under Parkinson’s Law. I procrastinate and use a small amount of time to complete a project, which had an extended completion time frame. I prefer to work alone because I feel I work better by myself and I don’t have to depend on anyone except myself. I need to be presented with sufficient proof before I am persuaded of something. My results stated that I tend to be a “Closet Perfectionist”. Overall most of the statements made about me I can agree with.

I agree that I should work on my social skills so that I can be more at ease socially. I am a laid back type of person and in social environments I am not the aggressive personality. I tend to and prefer people to come to me first. However, when I get to know and like a person I open up and I am very good at maintaining that relationship. A few of the words that described me were conservative, skeptical, undemonstrative, suspicious, conventional yet open-minded. I believe these characteristics Influence the strength or weakness of each of my relationships.

In Fundamental concepts I will apply my matter-of-fact thinking with my deliberateness and tactfulness to deliver neat and accurate work. I will work hard to improve my social skills so I will be able to work well and productively with others. I also hope to learn how to trust and depend on others and not just myself.