This report is prepared in order to provide a brief discussion about Mystic Monk Coffee. Followed by the report it will cover how Mystic Monk Coffee was introduced and its objectives. Along with this, the report will also cover a SWOT analysis on Mystic Monk Coffee in order to determine the weakness and strength of the business process of Monk coffee. As well as the analysis of business level strategy. Lastly, this will conclude with a recommendation to enhance their business. Analyzing the business growth of Mystic Monk Coffee it has been observed that it is one of the top selling gourmet coffee by the monks of Carmelite and it has won several awards for their best quality products as well. According to the case study Mystic, monk Coffee was initially introduced in order to collect funds to maintain the Carmelite Monk Monastery present near the mountains of Wyoming. Initially, there was a small house where 13 Carmelite monks were surviving their religious life with worship and silence. After certain many young men decided to join the Carmelite community. Since, at that time the Carmelite monastery had less capacity, Daniel Mary who was the father of Carmelite have realized that there is essentiality for a large space. While searching for a good location for the monastery which can have accommodation for at least 30 monks, a convent, 2 Centers of retreat, as well as a Gothic Church father, has found a plot of 496 acres along with few buildings. However, the plot was appropriate for monastery there was a significant financial obstacle as the cost of that plot was $8.9 million. However, Carmelites have received a donation amount of $250 thousand dollars it was not enough bought that property. Considering the fact that they have only one financial support which is the coffee roasting service father has decided to enhance the service by adopting the online facility to sell their product in order to gather rest of the amount which can help them to buy the plot. Along with these activities, the father decided to promote their product to other churches as well as he decided to create its offline market availability. However, followed by the case study they have tried to incorporate the offline product distributing service in their business model, online service has a major contribution towards their success. With the objective of purchasing the property of $8.9 million by overcoming the financial obstacle, they have decided to enhance their coffee roasting process as well as the marketing strategy in order to earn more money.
Internal Strengths & Weaknesses:
With the objective to purchase the property near $8.9 million father of Carmelite has decided to make more profit from their coffee roasting services. Thus, furthermore in this paper, analysis on their business has been conducted in order to determine the strength and Weakness.
While analyzing their business procedure of Mystic Monk Coffee several strengths have been noticed which are mentioned below:
The above strength has driven Mystic Monk Coffee towards its success.
After the conduction of an investigation, several weaknesses of Mystic Monk Coffee have been observed which are mentioned below:
Due to these weaknesses, several limitations have occurred in the business model of the Mystic Monk Coffee.
In order to analyze the external environment of Mystic Monk Coffee by applying Porter’s model various aspects of threats and opportunities has been observed which needs to be considered while improving the business process of Mystic Monk Coffee. Those findings are mentioned below:
While analyzing the external threats of Mystic Monk Coffee by considering the aspects of Porter’s Model several threat factors. Generally, Porter’s model analysis is conducted in order to determine the completeness of any business and identifies the weakness of that business. The findings gathered from the conduction of Porter’s Model analysis are mentioned below:
Bargaining Power of the Customer – This threat stands for customer’s bargaining power by which most of the time customers are intended to purchase the high-quality product with the least payment. Considering the pricing of the Mystic Monk Coffee the chance of the occurrence of this threat is less.
Bargaining Power of the Supplier – This threat stands for the power of a supplier while bargaining with a customer. Most of the time suppliers are intended to supply poor quality product with maximum payment. As mentioned in the case study the monks were always intended to provide the best quality product to the customers the possibility of the occurrence of this threat is low.
The threat from existing rivalry – This threat stands for the existing rivalry which can have a significant impact on the market value of any business. Since the Mystic Monk Coffee is base on religious aspect many users can choose other coffee over the Mystic Monk Coffee. Thus, this threat has a high chance of occurrence.
The threat of new competitor – Since Mystic Monk Coffee has a great impact on their customers. Thus, it will be hard to feel a threat from the new companies as customers are highly engaged with the quality of Mystic Monk Coffee.
The threat of substitution – Considering the religious aspect many users can restrict them from buying this coffee, thus they might replace the choice of coffee from Mystic Monk Coffee to some another coffee brand. Thus, the occurrence of this threat has a high possibility.
After analyzing the business growth and process of Mystic Monk Coffee several opportunities have been observed which can drive the business process of Mystic Monk Coffee towards its desired success. The opportunity factors are described below:
Followed by these above opportunity factors the Mystic Monk Coffee can leads their products to a high extent.
According to the Machmud and Sidharta (2014) considering the scenario of the Mystic Monk Coffee, currently, there are few attractive qualities present however, according to several investigations the chance of the occurrence of limitations in the business model cannot be avoided. In order to investigate the strength, limitations, future scope and threats SWOT
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analysis have been conducted. The result of the SWOT analysis is described below:
Considering the finding from the SWOT analysis it has been observed that there are several issues and present in the business field of Mystic Monk Coffee which can affect the Mission, vision, objectives and business strategies of the Carmelite. Thus, it is essential to determine the issues related to the above factors. A brief discussion of those factors are described below:
After analyzing the strength, weakness, opportunity, and threats of the Mystic Monk Coffee it has been observed that these factors have a direct impact on the mission of Carmelite coffee roasting process. Considering the strength of the Mystic Monk Coffee, utilization of best quality coffee beans and a promising service has made a good impression on the Catholic population however, there are several threats and weakness of the conventional coffee business. Thus, usage of old coffee roasting machines and less effective employment effects a lot to the mission of Mystic Monk Coffee. In order to build an effective business strategy, they must adopt the new technology and tactics to enhance their profit, which will help to purchase the plot and build an efficient Carmelite Monastery.
Analyzing the vision of Mystic Monk Coffee with considering the findings of SWOT analysis. The vision of mystic monk coffee is to make enough money in order to buy a plot of $8.9 million to build a Carmelite Monastery which will consist of enough space for at least 30 monks, a convent, 2 retreats as well as a Catholic church. Since. Coffee-selling in the only way gathers the required amount of money the father has decided to increase the productivity of their coffee business. However, their vision is to develop an effective coffee business in order to earn enough money their equipment is not capable to produce a large amount of product as well as their contribution towards the coffee roasting is very less due to their devotion towards God. Along with these drawbacks they also have a huge number of trusted customers who are impressed by the usage of best quality coffee beans and it also has a great opportunity in the US market since they have a significant interest towards the construction of the Carmelite monastery.
Fundamental objectives of the Catholic monks of Wyoming is the construction of a Carmelite Monastery which will provide the facility to stay at least 30 monks in the monastery as well as a convent, 2 retreat center and a Catholic church. In order to initiate the construction of the monastery, there is a financial obstacle of $8.9 million since the cost of the desired plot is $8.9 million. Analyzing the information from the SWOT analysis it has been observed that Mystic Monk Coffee business is the only way to earn money thus the Carmelite monks have decided to pay more attention towards the coffee business by improving techniques and machines which will help to enhance their marketing as well as productivity. Along with the coffee selling services they have also decided to sell coffee mugs, t-shirts. CDs.
The function strategy of Mystic Monk Coffee is to target the Catholic population, especially who are interested in the construction of Carmelite Monastery by selling coffee. However, for the collection f the required amount of money in order to develop a monastery they must expand their business into a huge extent. Mystic Monk Coffee is fundamentally based on the online selling process but in order to explore the business, they have decided to make it offline by selling the products to the local shops as well as to the church. Promoting the coffee by stating that they are providing this service in order to gather the money to develop a monastery the customers were highly influenced which has helped them to earn more money. Followed the information of SWOT analysis the main target of Mystic Monk Coffee is the market of the United States. Since the population of the US has expressed significant interest in the monastery construction it has helped the monks a lot. Another functional aspect of Mystic Monk Coffee is to provide high-quality coffee to their customers which have also helped them to earn customer trust. Along with that in order to increase the productivity of the coffee business father has decided to exchange the old roasting machine with a high capacity roasting machine.
Recommendation and Conclusion:
Considering the objectives and strategies of Mystic Monk Coffee, in order to reach their objectives, they must adopt new technologies and strategies. As per the idea of father Denial, the adoption of a new roasting machine will help to increase their productivity a well as it will offer variety in coffee blending and roasting in only one condition if the monks contribute enough time to in the work process and work hours. In order to purchase the plot of $8.9 million and construct a Carmelite monastery, the monks must utilize their maximum time to the production of coffee rather than devoting themselves in the prayer and worship. The improvement in the packaging and the roasting process can also help to enhance their popularity in the US market as well an in the Catholic population. Along with the services of online and offline coffee selling services the monks are recommended to advertise their product by physically promoting to the church to church as well as to the local store. Since the Mystic Monk Coffee spends about $128.820 in a year in the production, they must look into the factors in which ration the profit amount should be increased. Improvement of the business strategies also has a significant impact on the enhancement of the Mystic Monk Coffee business.
Followed by the above discussion the major recommendations are mentioned below:
These are the recommendations which need to be followed by the Monks of Wyoming in order to achieve their target.
Conclusion
It has been observed from the case study of Mystic Monk Coffee, that the objective of the Wyoming monks is to build Carmelite Monastery in order to provide at least 30 monks to stay there and it will also consist of 2 retreats, a convent as well as a church from the business of Mystic Monk Coffee. This report has included a successful investigation on the business strategies of Mystic Monk Coffee by which the Strength, weakness, threat, and opportunities have been observed. The study has a detailed analysis on the aspects of SWOT analysis by which it has been observed that there one of the major strengths is the usage of the best quality product and the trust they have built by selling the premium quality product. Along with the strength, there are several limitations has been observed which must be mitigated with the highest priority. The recommendations to mitigate those limitations are also successfully established in this report which includes the use of advanced technology in order to increase their productivity, the variety of roaster and blenders will help to provide the user’s variety of coffee to the coffee lovers of US population. Along with that, the improvement of the marketing strategies must be incorporated in the field of coffee business. In order to improve the productivity and profit of the Mystic Monk Coffee, it is also recommended that the involvement of the monks in the business process must be increased with the highest priority. Lastly, it can be concluded that a detail view of this study will surely help to understand the history behind the Carmelite monk’s coffee business, how it has come to the US market and its business strategies. Since it has covered a detail view of the history and innovation of Mystic Monk Coffee as well as it also consists of a SWOT analysis based on the business growth and strategies. Lastly, followed by the information gathered from the SWOT analysis, effective solutions are also recommended in order to resolve that problem.
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