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Assignment 1: to Build or Buy

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Assignment 1: To Build or Buy Small Business Management Business 402 July 27, 2014
Assignment 1: To Build or Buy

1. Craft a brief strategy for a business concept that would directly compete with the small business you selected. As an entrepreneur one must be willing to take risks and face uncertainty in order to pursue an opportunity and to make a profit (Scarborough, 2012). 7-Eleven is a very successful brand and franchise that is known worldwide. As a frequent patron of this established, an opportunity has been identified to directly compete with 7-Eleven. As a competitor in the convenience store market the establishment would be called G’s Stop N’ Go. As a direct competitor, research is necessary to understand the strengths and weaknesses of 7-Eleven to be able to compete and make effective decisions. From state to state and city to city 7-Eleven’s can be found everywhere are very visible and known. But based on the companies SWOT analysis a weakness that has been identified was the hacking of ATM machines that negatively impacted consumers’ loyalty (7-Eleven, Inc., 2013). FBI has investigated the case and stated that a Citibank server that processes ATM withdrawals at 7-Eleven convenience stores had been breached. ATMs hackings at 7-Eleven stores reflects the company's weak application security system (7-Eleven, Inc., 2013). To take advantage of this weakness, G’s Stop N’ Go would have industry proven application security system that are secure and up-to-date. That way customers can make purchases and use the ATM to make transaction without fear of hacking.

Next G’s Stop N’ Go must have a wide selection of products at different price points to serve a wide range of customers. Just like how a consumer can go into an 7-Eleven and make a quick purchase of what he or she is looking for G’s Stop N’ Go will do the same. One key...

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