Y ou and your partners have decided to open a large full-service restaurant in y
ID: 427710 • Letter: Y
Question
You and your partners have decided to open a large full-service restaurant in your local community; it will be open from 7 a.m. to 10 p.m. to serve breakfast, lunch, and dinner. Each of you is investing $50,000 in the venture, and together you have secured a bank loan for $300,000 to begin operations. You and your partners have little experience in managing a restaurant beyond serving meals or eating in restaurants, and you now face the task of deciding how you will manage the restaurant and what your respective roles will be.
Decide what each partner's managerial role in the restaurant will be. For example, who will be responsible for the necessary departments and specific activities? Describe your managerial hierarchy.
Which building blocks of competitive advantage do you need to establish to help your restaurant succeed? What criteria will you use to evaluate how successfully you are managing the restaurant?
Discuss the most important decisions that must be made about (a) planning, (b) organizing, (c) leading, and (d) controlling to allow you and your partners to use organizational resources effectively and build a competitive advantage.
For each managerial task, list the issues to solve, and decide which roles will contribute the most to your restaurant's success.
Explanation / Answer
as the financial support is there and the funds are available, now we focus on the inhouse activities and supporting activities. Do not make this issue much complcated in this aspects, one of we take care of all inhouse activites and other one takes about outdoor activties.
Inhouse activities includes:
outdoor activities includes:
there are many criterias to evaluate a business. Some may go with the growth rate in customer accumulation, some take the more revenues, some may measure in terms of profit, and so on. for us, I consider two different aspects, one is the volume of visitors/customers to the restaurant and the second is the per cent of profits from total revenues.
Inherently, people have all this skills like planning, organizing, leading and controlling. These are not unique and specifict, but few may more effective in these and few may not. for managing a restaurant, it is not difficult to us. we can manage this succesfully in the above said way.
as i said above, do not make things complicated, make them as simple and as easy.
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