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.