Contents

1. Business Idea 3
2. Business Structure 3
3. Organisational Diagram 3
4. Describe how the success of your business and business idea will be 4
measured
5. Performance Measure - Financial 4
6. Performance Measure - Non-financial 1 4
7. Performance Measure - Non-financial 2 5
8. Performance measure - Non-financial 3 5
9. Performance Measure - Non-financial 4 5
10. Variable Cost 1 5
11. Variable Cost 2 5
12. Fixed Cost 1 6
13. Fixed Cost 2 6
14. Define CSR in your business setting 6
15. Environmental/resource impacts 6
16. Community impact & engagement 6
17. Internal stakeholders 7
Reference List 8
1. Business Idea
Eco-Bar is a casual bar located at East Coast Road that serves craft beers,
cocktails and spirits with our own Singaporean concoctions. Eco-Bar caters to
those looking for an affordable place to drink whilst maintaining a high level of
service.
Our proposal is called E²-fforts. The ‘E²ʼ suggests the integration of the two
words: electronic and environmental. E²-fforts aims to put in efforts in reducing
carbon footprint whilst taking the business into a more future-oriented mode of
operations.
We will use technologies to design an application which allows customers to make
reservations, orders and pay online. Also, we commit to reducing the use of
single-use plastics and switch to a smoke-free bar, to reiterate our stance against
environmental harm. The transition to the app service will decrease the usage of
paper and receipts, reducing waste in the process. The app intends to improve
customer satisfaction and increase employees efficiency.
2. Business Structure
Eco-Bar is a sole-trader company driven by profits. Eco-Bar, owns and run
individually, thus no partners in this business. Profits and assets owned by the
business belongs to the sole-proprietor. Likewise, the CEO is also responsible for
every debt the business has. Eco-Bar is a private, non-government company with
intentions of going public through an IPO in the future. Going public can help
generate more funds for the company and can gain more credibility. On the
flipside, going public might affect the decision making process of the company
but there are ways to ensure that current owners retain majority of the decision
making power.
3. Organisational Diagram
4. Describe how the success of your business and
business idea will be measured
To be successful in our operations we have to make profits, ensure good
reputation, be socially and environmentally responsible. We adopt the balanced
scorecard system which helps organisations focus on the big picture of their
vision and strategy.This system accounts for the financial, internal processes,
learning and growth and customers factors (QuickScore 2019). Non-financial
performance measures should relate with the Sustainable Development Goals
(SDGs) developed by the United Nations.
5. Performance Measure - Financial
Measure the sales target KPI of the year after introducing the 'E²-ffortsʼ
application to see if the current sales hit the targeted sales or past sales. If sales
figure exceeds targeted KPI or previous yearʼs sales, it indicates 'E²-fforts' is
generating and improving sales and profits.
6. Performance Measure - Non-financial 1
Measure employee satisfaction through surveys or feedbacks which closely
relates to Gender Equality and Reduced Inequalities SDGs (United Nation 2016).
Higher employee satisfaction leads to higher productivity
(Halkos & Bousinakis 2010). It is important for businesses to ensure that no
employees are discriminated against based on their sex, races, disabilities and
ethnicity. This includes income equality. There is a higher likelihood that anti-
discrimination policies increase satisfaction.
7. Performance Measure - Non-financial 2
Measure the environmental sustainability index of the various suppliers. Linking to
the Partnerships for the Goals SDG (United Nations 2016). Partnerships are
formed to enhance sustainability, resources and assets based on a shared goal
(Thiel 2019). Forming a partnership that is beneficial to the companies in terms of
business growth and sustainability.
8. Performance measure - Non-financial 3
Measure percentage reduction of single-use plastics and waste of Eco-bar. Links
back to Responsible Consumption and Production SDG (United Nations 2016)
which encourages businesses to recycle and reduce waste. In 2017, more than 6.9
Billion tons of plastic waste and estimated that 91% of that figure are not recycled
(Parker 2018). It is important for Eco-Bar to eliminate single-use plastic such as
straws and plastic cups to reduce carbon footprint and contribute to
sustainability.
9. Performance Measure - Non-financial 4
Measuring electricity consumption of the bar. This links back to Climate action
SDG (United Nations 2016). Oil and natural gases are commonly used in
generating electricity. Both methods produces CO2 when in combustion,
contributing to climate change in the process (Ngo & Natowitz 2009). Instead,
Eco-bar should use renewable energy as it reduces the carbon emissions. For
instance, use Sunseap 50 (Lim 2019) electrical retailer plan which uses solar
energy instead.
10. Variable Cost 1
Marketing cost
11. Variable Cost 2
Redesign of user experience/ interfaces
12. Fixed Cost 1
Annual payment to Apple or Google play store
13. Fixed Cost 2
Yearly/Quarterly Updates of "E-fforts' application
14. Define CSR in your business setting
Eco-Bar prioritises Corporate Social Responsibility (CSR) and ethical decision
making in our business practices. By practicing CSR our company ensures we are
positively impacting the social and environmental aspects as much as possible.
The nature of our business is not exactly the most socially responsible. Thus, we
mitigate the harm by donating to non-profit organisations and more. ‘E²-ffortsʼ
initiative reduces our carbon footprint will positively impact the environment.
Practicing CSR not only impacts the environment and community but also our
business itself as it builds our reputation. Good reputation builds a loyal customer
base and can also attract new customers.
15. Environmental/resource impacts
The introduction of our ‘E²-ffortsʼ application and commitment to reduce our
carbon footprint will positively impact the environment. ‘E²-ffortsʼ will enable our
business to reduce paper usage as there will be no need for receipts, hardcopy
menus, or even papers used for order taking.
Our commitment to reduce our carbon footprint involves the usage of reusable
cups and coasters. Reusable items may be more expensive however it has a much
longer product lifespan and it reduces waste and the use of non-biodegradable
plastic. Using green renewable energy for our bar operations reduces emission of
greenhouse gases too. Additionally, Eco-Bar will work in partnership with
suppliers and other companies to ensure shared sustainability goals and efforts.
Partnerships is more effective if both parties share the same goal and that is is
beneficial for both companies.
16. Community impact & engagement
With the ‘E²-ffortsʼ application, our business can be trailblazers for other
businesses and individuals to be committed to reducing their carbon footprint as
well. Eco-Bar will also be transparent with the details of the products. Also, Eco-
Bar will raise awareness of the impacts that carbon footprint has on the
environment, and the ways to help counter it. This will allow the local community
to learn ways to do their part in helping the environment.
Eco-bar can further engage the community by using promotions and incentivising
customers who bring their own bottle or metal straws.
The following are ways to help mitigate and improve our social responsibility:
- Donate annually to non-profits organisations such as Yellow Ribbon project
- Weekly volunteer in the day-time at old folks home or orphanage as bar
operates at night
- Organising events to engage the community to help keep the environment clean
- Sponsoring needy families with food from Eco-Bar.
17. Internal stakeholders
1) Employees
Due to Eco-Barʼs commitment to CSR, employees will feel the need to do their
part in helping the environment in their daily lives. Employees will have to learn
about the different environmental impacts and ways to improve them. They will
also be taught on the importance of the 3Rs: recycling, reducing and reusing.
2) Owner
Prioritising CSR and making business decisions based on ethics, will help to build
a good reputation for the business and the owner. The owner will gain recognition
for caring about the society through donations to non-
profit organisations. As the business reputation increases, the more customers it
will have, leading to an increase in profits. Making the business appealing for
investors and other companies to get involved in.
3) Managers
The managers will have to come up with ways to ensure that the business is going
according to the goals set, both economically and environmentally. Managers will
undergo courses and training to develop skills that can help the business with the
goals. These skills will be useful for them in the future, be it in the workforce or in
their daily activities.
Reference List
1. Halkos, G & Bousinakis, D 2010, ‘The effect of stress and satisfaction on
productivity', International Journal of Productivity and Performance Management,
vol. 58, no. 5, pp. 415 – 531, viewed 15 September 2019,
<http://doi.org/10.1108/17410401011052869>
2. Lim, C 2019, Choosing a Green Electricity Plan in Singapore – What are Your
Options?, MoneySmart, viewed 19 September 2019,
<https://blog.moneysmart.sg/budgeting/green-electricity-singapore/>.
3. Ngo, C & Natowitz, J 2009, Our Energy Future : Resources, Alternatives and
the Environment, Wiley, Hoboken. ProQuest Ebook Central database.
4. Parker, L 2018, WE MADE PLASTIC. WE DEPEND ON IT. NOW WEʼRE
DROWNING IN IT., National Geographic, viewed 18 September 2019,
<https://www.nationalgeographic.com/magazine/2018/06/plastic-planet-waste-
pollution-trash-crisis/>.
5. QuickScore 2019, What is a Balanced Scorecard? A short and simple guide for
2019, QuickScore viewed 17 September 2019,
<https://balancedscorecards.com/balanced-scorecard/#learn-overview>.
6. Thiel, M 2019, SDG17 - Partnerships for the Goals: Strengthening
Implementation Through Global Cooperation Emerald Publishing Limited, Bingley,
ProQuest Ebook Central database.
7. United Nations 2016, #Envision2030: 17 goals to transform the world for
persons with disabilities, United Nations, viewed 17 September 2019,
<https://www.un.org/development/desa/disabilities/envision2030.html>.