Introduction
Meat Earth, the core of our Made in Brunel business plan, offers a sustainable and ethical alternative to standard meat products to revolutionize the meat industry. To reduce cattle farming’s carbon impact, Meat Earth uses cultured and plant-based meat. Greenhouse gas emissions from cattle production account for 18% of world emissions (Bocken et al. 2019). Due to the importance of environmental mitigation, Meat Earth offers a solution. Since cultured beef is predicted to become commonplace in 2030, the firm plans to debut in that year.
Meat Earth offers a familiar shopping experience in shops and online via an app to attract a wide audience. The butcher shop-like establishments attempt to ease customers’ transition by keeping a feeling of familiarity while promoting a change to sustainable food. Meat Earth’s environmental mission is to fight air pollution and lead the cultured meat business, as explained in this introduction. The brand tackles environmental issues and redefines the meat industry’s customer experience.
Summary of the Business Plan
Finance underpins our Made in Brunel product Meat Earth’s business model. Several critical aspects are needed to commercialize the hybrid meat brand.
- Financial Projections and Budgeting: Considering the cultured meat product industry development, the business strategy contains extensive financial estimates (Lee et al. 2019). Cultured meat budgets account for research and development, production, marketing, and distribution expenditures due to their capital intensity. Financial projections based on market trends guide sustainable expansion.
- Funding Strategies: The concept proposes creative finance for large capital needs. Partnerships, investor involvement, and grants are explored to fund Meat Earth’s development and growth. This strategy links finance to product commercialization.
- Risk Analysis and Mitigation: Finance handles regulatory and commercial acceptability issues in the growing cultured meat business (Muchenje, Mtengwa, and Kabote, 2023). This creates a strong strategy that tackles commercialization concerns and provides a framework for risk mitigation methods to achieve financial sustainability.
- Market Research and Consumer Behavior: Financial planning is closely related to market research and customer behaviour. The finance department forecasts sales, market share, and revenue using data. This convergence with market dynamics ensures that financial plans meet customer desires, helping Meat Earth commercialize.
Analysis and Evaluation of Business Plan
The Meat Earth business plan’s financial component is strong. By estimating financials over the next decade, the strategy anticipates the general adoption of cultured meat. This strategic vision improves plan responsiveness to industry changes. Combining online and offline retail income sources shows financial prudence, lowering reliance risks and ensuring long-term stability. Partnerships and grants are inventive ways to raise funds for a capital-intensive company.
Reliance on cultured meat speculation is a weakness. Projections are forward-looking, but industry changes might affect the strategy (Sadjiarto, Hartanto, and Octaviana, 2020). Incomplete risk mitigation is another problem. The plan’s resilience would improve with a more thorough understanding of possible problems, such as regulatory impediments or market acceptability concerns, and clear solutions.
A more thorough risk analysis will improve the strategy. This requires thoroughly identifying and resolving any hurdles to mitigate risk. Focus on continual monitoring and adaptation to industry adjustments to match the strategy with changing market realities. Complex financial ideas and assumptions, particularly about cultured meat, should be explained better to increase plan understanding (Kusuma et al. 2021). Scenario planning, examining multiple industry growth trajectories, would prepare the firm for a variety of outcomes, improving flexibility and risk management.
Analysis and Evaluation of Personal Contribution
As a finance manager, I researched, projected, and explored Meat Earth’s financing sources. I excel at translating difficult financial ideas into company plans. I worked well with team members to integrate financial strategy with other company features. My insight and attention to detail in financial estimates matched the plan’s forward-thinking approach.
Improvements are needed in communication. Some financial ideas might have been explained more explicitly to ensure that all team members, regardless of background, understood them. I could have also done more risk analysis to identify financial risks and provide stronger mitigation techniques. Stronger elements would make finance more complete and durable.
An organized framework like COSO Enterprise Risk Management would improve my participation (Saleem et al. 2019). This framework organizes risk identification, assessment, and mitigation. This would improve risk analysis in financial planning, strengthening the company’s strategy. Team members might also benefit from specialized communication training or seminars to better comprehend financial concepts. Finally, frequent consultation with industry specialists or consultants may improve strategic financial planning in the company strategy.
Reflective Summary and Benefits
Participating in the Made in Brunel module’s Meat Earth business development process has enriched academics and improved employability. This experience used multiple principles. In the full company planning process, focused on finance, I learned real-world financial methods, budgeting, and risk management (Sin, Tavares, and Amaral, 2019). Combining theory and practice improved my academic skills in sustainable business practices and financial planning.
The collaborative group business planning method improved my collaboration and communication. Contributing to the financial aspect of a broad group improved my capacity to cooperate with people from different backgrounds, reflecting the dynamic nature of professional situations. I also learned about emerging industries like cultured meat production, which fosters adaptability and innovation in changing business landscapes. These academic and practical skills prepare me for future jobs, especially in financial, strategic, and sustainability-focused fields. This hands-on experience has enhanced my academic journey and prepared me to contribute meaningfully in professional settings that require strategic and sustainable business development.
Conclusion
Meat Earth’s Made in Brunel business strategy takes a novel solution to meat sector environmental issues. The key part, finance, combines foresight, varied revenue methods, and creative financing. The strategy has merits in forward-thinking predictions and financial innovation, but risk analysis and communication clarity need improvement. Communication and risk analysis are areas for improvement in my financial contribution, while financial prediction and teamwork are strengths.
The experience improved my academic grasp of sustainable business practices and taught me collaboration and flexibility, which are essential for professional success. Future adoption of frameworks like COSO and industry cooperation might strengthen the strategy. Combining academic understanding with practical implementation prepares me for financial and sustainability-focused jobs. corporate planning has transformed my understanding of finance, sustainability, and innovation, equipping me with the difficulties and possibilities of the dynamic corporate world.
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References
Bocken, N., Strupeit, L., Whalen, K. and Nußholz, J., 2019. A review and evaluation of circular business model innovation tools. Sustainability, 11(8), p.2210.
Kusuma, A., Syah, T.Y.R., Indradewa, R. and Fajarwati, D., 2021. Implementation of Financial Strategy Business Plan Arena Corner. American International Journal of Business Management (AIJBM), 4(07), pp.86-89.
Lee, J., Suh, T., Roy, D. and Baucus, M., 2019. Emerging technology and business model innovation: the case of artificial intelligence. Journal of Open Innovation: Technology, Market, and Complexity, 5(3), p.44.
Muchenje, C., Mtengwa, E. and Kabote, F., 2023. Building a Strong Brand: Future Strategies and Insights. In Sustainable Marketing, Branding, and Reputation Management: Strategies for a Greener Future (pp. 238-257). IGI Global.
Sadjiarto, A., Hartanto, S. and Octaviana, S., 2020. Analysis of the effect of business strategy and financial distress on tax avoidance. Journal of Economics and Business, 3(1).
Saleem, K.S.A., Zraqat, O.M. and Okour, S.M., 2019. The effect of internal audit quality (IAQ) on enterprise risk management (ERM) in accordance with the COSO framework. European Journal of Scientific Research, 152(2), pp.177-188.
Sin, C., Tavares, O. and Amaral, A., 2019. Accepting employability as a purpose of higher education? Academics’ perceptions and practices. Studies in Higher Education, 44(6), pp.920-931.
Introduction and Overview of Contribution
- The Meat Earth business concept emphasizes sustainability and ethical meat production (Bakhsh et al. 2021).
- Finance’s key part in the plan’s success, resolving meat sector environmental issues.
- My contributions include financial estimates, budgeting, financing methods, and risk analysis (Hou et al. 2023).
- Collaboration and integration of finance with other plan aspects for a holistic approach.
SN: I want to highlight Meat Earth’s dedication to sustainable and ethical meat production and its financing component. My contributions to the finance team included detailed financial forecasting, strategic budgeting, novel financing methods, and risk analysis. This financial foundation ensures the plan’s agility and durability in tackling meat sector environmental issues. Our proposal calls for Meat Earth to revolutionize the industry by combining cultured and plant-based meat. Finance is crucial to this innovative venture’s success. Finance was easily linked with other plan parts via collaboration, representing Meat Earth’s interrelated and dynamic corporate approach.
Strengths, Weaknesses, and Recommendations
- Financial planning foresight, revenue diversification, and creative resource allocation are the key strengths.
- Putting too much faith in amorphous industry trends and unfinished risk management plans (McGrath et al. 2021).
- Improve risk analysis, scenario planning, and financial concept communication.
SN: A critical review of the Meat Earth business plan’s merits, faults, and improvements is presented. Significant positives include the plan’s forward-thinking financial estimates, varied income sources, and creative finance mechanisms. We recognize the danger of depending on speculative industry advances and the necessity for more extensive risk mitigation procedures. I suggest risk analysis, scenario planning, and better financial communication to improve the strategy. These strategic improvements will strengthen the company model, making it more adaptable and resilient in a changing market, assuring Meat Earth’s long-term success.
Personal Growth and Future Performance
- Develop financial forecasting and teamwork abilities (Post et al. 2020).
- Recognition of communication and risk analysis concerns.
- Commitment to constant growth and learning (Smith, 2019).
- Meat Earth’s commitment to a sustainable future and impact on the meat industry.
SN: My Meat Earth business planning experience was incredible. My engagement has improved my financial projection and cooperation abilities. I acknowledge the cyclical nature of learning by admitting communication and risk analysis weaknesses. Self-awareness motivates me to keep learning and improving.
Theory and practice have been effortlessly integrated in the Meat Earth project, revealing the dynamic nexus of finance, sustainability, and innovation. I expect future possibilities with a set of abilities and experiences that qualify me for financial and sustainability responsibilities. This project enhanced my academic path and taught me how to adapt and persevere in the ever-changing corporate world.
References
Bakhsh, A., Lee, S.J., Lee, E.Y., Hwang, Y.H. and Joo, S.T., 2021. Traditional plant-based meat alternatives, current, and future perspective: a review. J. Agric. Life Sci, 55(1), pp.1-10.
Hou, Y., Chen, S., Yao, Z., Huang, Q., Shen, X., Cao, L., Cheng, J., Gui, F., Zhang, Y. and Wang, X., 2023. Green Building Consumption Perception and Its Impact on Fitness Service Purchasing Intentions: An Extended Institutional Analysis and Development Decision-Making Model Analysis. Buildings, 13(10), p.2536.
McGrath, P., McCarthy, L., Marshall, D. and Rehme, J., 2021. Tools and technologies of transparency in sustainable global supply chains. California Management Review, 64(1), pp.67-89.
Post, M.J., Levenberg, S., Kaplan, D.L., Genovese, N., Fu, J., Bryant, C.J., Negowetti, N., Verzijden, K. and Moutsatsou, P., 2020. Scientific, sustainability and regulatory challenges of cultured meat. Nature Food, 1(7), pp.403-415.
Smith, T.J., 2019. Corn, cows, and climate change: How federal agriculture subsidies enable factory farming and exacerbate US greenhouse gas emissions. Wash. J. Envtl. L. & Pol’y, 9, p.26.