This assignment is designed to expand your knowledge of the Small Business Strategy Process by focusing on Step 3 of the process: Industry Dynamics and Analysis.
This assignment is designed to expand your knowledge of the Small Business Strategy Process by focusing on Step 3 of the process: Industry Dynamics and Analysis. Industry Analysis is a tool used to provide an overview of the industry. This assignment will be performed on the industry you have identified for your business idea. This assignment has two parts: the excel calculations and an analysis of the industry based on your calculations.
This assignment may be a good starting point to use when you write the Industry Analysis section of your business plan. Upon completion of this assignment, you will have identified the size of the industry for your business idea both in terms of dollars, number of establishments and number of employees. In addition, you will do calculations using the data to give you further insights regarding averages per establishment.
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Sheet1
| census.gov | |||||||||
| Cells in Yellow have made up numbers and need you to import data from census.gov | |||||||||
| Cells in Green has formulas as examples | |||||||||
| Cells in Grey need to be calculated with formulas as shown in the examples | |||||||||
| Geographic Area Name | NAICS Code | Meaning of NAICS Code | Year | Number of Establishments | Sales, Value of Shipments, or Revenue ($1,000) | Annual Payroll ($1,000) | Number of Employees | ||
| U.S. | 722511 | Full Service Restaurants | 2017 | 231,927 | $224,320,799 | $74,086,843 | 4,772,294 | ||
| U.S. | 722511 | Full Service Restaurants | 2012 | 220,089 | $192,258,833 | $63,259,045 | 4,603,747 | ||
| Increase/ Decrease | 11,838 | ||||||||
| Increase/ Decrease % | 5.4% | ||||||||
| New Jersey | 722511 | Full Service Restaurants | 2017 | 6,906 | $6,203,769 | $1,829,403 | 108,442 | ||
| New Jersey | 722511 | Full Service Restaurants | 2012 | 6,268 | $5,301,608 | $1,600,699 | 103,528 | ||
| Increase/ Decrease | 638 | ||||||||
| Increase/ Decrease % | 10.2% | ||||||||
| Average Revenue per Establishment | U.S. | New Jersey | |||||||
| 2017 | $967,204 | ||||||||
| 2012 | $873,550 | ||||||||
| Increase/ Decrease $ | $93,654 | ||||||||
| Increase/ Decrease % | 10.7% | ||||||||
| Average # of Employees per Establishment | U.S. | New Jersey | |||||||
| 2017 | 20.58 | ||||||||
| 2012 | 20.92 | ||||||||
| Increase/ Decrease | -0.34 | ||||||||
| Increase/ Decrease % | -1.6% | ||||||||
| Average Cost of Payroll per Employee | U.S. | New Jersey | |||||||
| 2017 | $15,524 | ||||||||
| 2012 | $13,741 | ||||||||
| Increase/ Decrease $ | $1,784 | ||||||||
| Increase/ Decrease % | 13.0% | ||||||||
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MGS3013 Unit 5 AS: Industry Analysis
This assignment is designed to expand your knowledge of the Small Business Strategy Process by focusing on Step 3 of the process which is Industry Dynamics and Analysis. The Industry Analysis is a tool used to provide an overview of the industry.
This assignment showcases a good starting point when writing the Industry Analysis section of a business plan. Upon completion of this assignment, you will have identified the size of your industry both in terms of dollars, number of establishments and number of employees. In addition, you will do calculations using the data to give you further insights regarding averages per establishment. You will complete this exercise by writing an analysis of the industry based on your calculations.
Please use the NAICS code that is for your industry. You can find this information via Google Search. In rare cases, census.gov does not provide the full set of data for your industry, you should use NAICS code 722511 to do this assignment.
Directions (NAICS code 722511 is used below as an example– please replace with your NAICS code):
1) Go to www.census.gov, click on "Explore Data", then "Explore Data Main". Click the search box (in the center of the screen) and choose “Advanced Search”.
2) Under “Find a Filter”, enter “722511” and choose “722511 – Full-service restaurants” as “Industries”. Click “Search” on the right bottom corner.
3) Your research is going to result in a large number of reports. Click “Filter” on the left upper corner. You need to make two filters: one for “Geography” and one for “Years”.
Step 1: Choose “Geography” > “Nation” > “United Stated”;
Step 2: Choose “Years” > 2017
Click “Search” or “Done”
4) Now you are about to retrieve the restaurant business data for “US” in the year of “2017”. Choose the table with the ID of “EC1700BASIC”. Using the data from the resultant table, copy the data into the excel template file provided.
5) Next, Click “Filter” on the left upper corner, next to “Download”. Choose “Years”. Unclick “2017” and click “2012” and “Search”. Now you are about to retrieve the restaurant business data for “US” in the year of “2012”. Choose the table with the ID of “EC1200A1”. Using the data from this new resultant table, copy the data into the excel file.
6) Click “Filter” on the left upper corner, next to “Download”. Deselect “US” as one of the “Selected Filters” (located on the bottom of the page) and go back up to adjust your filters. Choose “Geography” > “State” > “New Jersey”. Click “Search”. Now you are about to retrieve the restaurant business data for “NJ” in the year of “2012”. On the left menu bar, choose the table with the ID of “EC1200A1”. Using the data from this new resultant table, copy the data into the excel file.
7) Click “Filter” on the left upper corner, next to “Download”. Choose “Years”. Unclick “2012” and click “2017”. Click “Search”. Now you are about to retrieve the restaurant business data for “New Jersey” in the year of “2017”. On the left menu bar, choose the table with the ID of “EC1700BASIC”. Copy the data into the excel file.
8) Prepare your spreadsheet using the example as a guide. You may not use a calculator to do this assignment. All calculations must be done using Excel formulas.
9) After completion of your spreadsheet, upload it by clicking on this assignment link and under “Write Submission” prepare a one-paragraph written analysis of the industry describing its size, trends, averages, etc.
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