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Challenges involved in restaurant management
estaurants are businesses that offer foods and drinks to customers within the hospitality industry. There is a small distinction between restaurants and hotels in the hospitality industry. Few restaurants expand their business to offer other services that are usually for hotels such as accommodation services. A number of hotels also offer restaurant-related services. These similarities in the two sectors categorize them into one industry referred to as hospitality. There are many restaurants and hotels in the state of California. The restaurants offer a variety of products and services to a significant percentage of the California's population.
Just like any other business operation in California, management of a restaurant faces a number of challenges. These challenges range from competitive and demographic issues to social concerns and regulatory issues. Geographical issues such as the location of a restaurant are also a challenge. Poor location of…… [Read More]
Customer Service estaurant Management
estaurant management all over the world initiate impressive approaches to improve their customer services. However, the realization part comes when these approaches have to be fully agreed upon by the employees who are essentially responsible for their implementation. The history of restaurant business reveals that policy making for customer service has been a. painless effort, but attaining employee acceptance to the same for making it operational is the more challenging area. This impracticability of customer services' policies in restaurant management has led most strategies to failure from their initiation.
This failure in policy implementation has been a persistent reason for perplexity and disappointment to top managements of restaurants. estaurant managements suppose that when they have disclosed a certain policy for customer service, employees will comprehend the strategy behind it with the same frame of mind wherewith it was framed. Additionally they presume that the launched customer…… [Read More]
Part 6.1. I would seek to change the cognitions of the employee in order to change the affects and the behaviors. The cognitions underlie the other two traits, so any change must start with the underlying values and beliefs. It is important for managers to have an understanding of organizational behavior because managers are responsible for guiding that behavior in directions that support the organization's objectives. Knowledge of OB is more important at lower levels because those are the managers that must deal directly with the organization's rank and file. Higher level managers dedicate more time to strategy formulation and environmental analysis, which involves setting directions for the organization, but the lower level managers are the ones that must implement the strategies and that means dealing with the human elements of the organization.
2. Of the four components of emotional intelligence, the one that I feel is most important for…… [Read More]
Management: Annotated Bibliography
Anyim, F.C. (2012). The Imperative of Integrating Corporate Business Plan with Manpower Planning. International Journal of Business and Management, 7(8).
This article talks about how traditionally, manpower planning as human resource activity is something that is utilized by institutions to make sure that they have the proper number and the accurate types of individuals that are performing jobs at the right places and during the right time all in a proposal to achieve business purposes. The article also explains how Business plan looks to recognize the many issues critical to the achievement of the association. The article likewise emphases on how the organization can be better positioned and equipped to contend effectually in the marketplace, while manpower planning, and contribute to the industry by providing the means (individuals) to complete the results from the planning procedure. This essay is beneficial gives theoretical explanations and inspects the authoritative…… [Read More]
Please see Appendix a for a give year ratio analysis of Starbucks Corporation illustrating the significant effect the recession is having on gross margins. Yet despite this pressure, Starbucks continues to be successful in keeping its gross margins above industry average at 9.67% for the latest fiscal year. Also noteworthy about their financial performance is the increase in evenue Per Employee from $53,864 in 2004 to $59,156. This speaks to the fact that Starbucks is being successful with their long-term strategy of delivering exceptional customer experiences, so much so that there is greater levels of repurchase of drinks and food even in a recession (Churchill, 2008). All of these factors point to the critical need for managing customer experiences more closely than ever, with a strong orientation towards giving customers and opportunity to have their voices heard on potential new products. Starbucks has excelled in the area of social networking,…… [Read More]
In fact I sincerely wanted to help them find positions where they could excel. The lack of trust on their part and the acute resistance to change was so strong that structuring for integration to the point of even defining what conditions needed to be changed to overcome shortcomings and design a new position for them was not possible. As trust was not present and despite my best attempts to earn it through being genuinely concerned about them, all attempts were seen more as patronizing and less about attempting to help them. On the occasion that they did ask for pay increases, I told them they would need to get their cumulative customer satisfaction scores up and also call volumes. Not interested in the position or excelling at it, these employees refused to improve and when let go, saw it as very personal given my continual efforts to help them…… [Read More]
. The mobile business market has seen significant of uptake of 2E (mobile sales-force and field service) solutions and Microsoft has the chance to develop its offerings around its acquisitions, adding mobile functionality. Microsoft partners with many application vendors across the board and moving too heavily into the application space would incense many. However, there is viability in developing a mid-market mobile application proposition, given the unconsolidated nature of offerings from operators, traditional ISVs, start-ups and mobile middleware players.
In the device OS market, as at desktop level and in the server-room, Linux clearly represents a threat to Microsoft, and one it expends much energy playing down. Although there has been little uptake of Linux to date specifically as an operating system for multimedia cell phones, there are many who are not keen to implement end-to-end Microsoft solutions. Linux will give these companies added freedom in choosing applications, middleware…… [Read More]
Economies of scale reflects a situation where the cost of something declines when more is produced. With larger quantities, bargaining power increase, and there are opportunities for greater systems efficiency. Economies of scope reflects a cost saving when a company produces two or more goods (The Economist, 2008). For example, if McDonalds only produced Big Macs, it would be inefficient because there is not enough demand for those to keep the restaurant busy. By adding other products, the restaurant can become more efficient because it is working closer to capacity and there are always customers.
Transaction costs are the costs associated with a transaction. In some cases, there are fees and commissions that have to be paid in order to do something. Those costs do not add any value in themselves, but they are costs that are necessary to doing the transaction.
Economic Value Added (EVA) is basically the…… [Read More]
How Good of a Boss Can You Be?
Your previous boss now reports to you. When you worked under her, you believed she was a good boss and had been helpful in your advancement. Now, she is 59 years old and three years from retirement age. She has been with the firm for over 25 years but she now seems indifferent to her work and often performs unsatisfactorily.
The listed scenario is one that must be handled with the utmost care. After twenty five years of service, the employ has earned a level of respect that must be upheld at all times. Furthermore, since she also served as a mentor that was an asset in my career development then this also adds to the difficulty that will be experienced in any confrontation. However, as the new boss, it will be my responsibility to try to rectify…… [Read More]
Branching out into new sectors of retailing - Wal-Mart has become a major pharmacy, an automotive repair shop, and a grocery retailer. This is just one example of success. It demonstrates Sam Walton's vision of being the best retailer around. After a store expands physically and geographically, it must then expand in terms of what they sell by branching out and competing with other businesses.
The conventional retail business of Wal-Mart has been to sell discount and house wares and plastic goods, clothing, sporting goods, and toys. Other departments have include but have not been limited to stationary and office supplies, hardware, home improvement, paint supplies, arts and crafts, cosmetics and toiletries, shoes, books and magazines, greeting cards, and confectionery. Wal-Mart has also branched out into home electronics, automotive supplies, pharmaceuticals, jewelry sales, photo finishing, travel planning, along with home gardening. After that Wal-Mart moved into the grocery store business…… [Read More]
The level of the investment also isolated them more in the case of a failure. They paid attention to the wrong details. Disney acted on American views of Europe rather than on native views, which could identify the important cultural differences. It appeared that the managers were too confident in their success to research the small details about European cultures.
In planning Euro Disney there were not any contingency plans put into place. The attitude towards customer habits was very complacent. They assumed that there would be so many customers every day, each staying an average number of nights spending an average amount of money. In America this would have worked because there is already a well established theme park culture. The European market proved to be a lot more unpredictable.
Up until now, Disney's venture into China has been anything but magical. The Hong Kong theme park, which opened…… [Read More]
Global Human Resource Management
McDonald's Company, responding to the growing need to train its employees and managers to provide excellent customer service to its 18, 380 branches worldwide, has established the Hamburger University. The Hamburger University was established in 1961 to serve as a worldwide Management Training Center, with its main headquarters located in Oak rook, Illinois. It currently educates and trains 65, 000 managers from around the world, and has training centers in England, Japan, Germany, and Australia. The Hamburger University in Illinois trains McDonald's employees to achieve global training in fast food restaurant management, which mainly centers on customer satisfaction and service. One of the most important features of the McDonald's global training is its ability to fuse both local and international standards of customer service. Since McDonald's caters fast food to numerous countries with different cultures, i.e., different food preferences and habits, the difficult task of providing…… [Read More]
Effective diversity management, on the other hand, provides a means more than just the elimination of potential sources of revenue loss; it means actually increasing revenue through customer satisfaction that is known to generate increased patronage and brand loyalty (ussell-Whalling, 2008), especially in the restaurant services industry.
Organizational Dynamics and the ole of Managers in the etail Services Industry
The highly competitive nature of modern retail restaurant services makes traditional supervisory and management practices comparatively ineffective, especially in areas outside of direct operational dynamics. Traditional supervisor-subordinate relationships are sufficient to provide training in mechanical procedures and operations; they are comparatively ineffective at cultivating a commitment to becoming part of an organizational culture (George & Jones, 2008).
Especially with respect to inexperienced, part-time, non-career, and seasonal employees, it is preferable for organizational leaders (Bennis, 2009) and managers (Lencioni, 2009) to develop a more personal connection to their staff members. In fact,…… [Read More]
One of the most important decisions that need to be taken is regarding the number of cleaning employees that are required and the frequency at which the cleaning will be conducted. These are all about the public areas where the house keeping has to be active. They also have to look after the guest room areas. The area near the guest rooms consist of the elevators through which the guests will be traveling, the corridors which they will use to reach their rooms, the stairwells through which also the guests may go and finally the guest rooms themselves. (Housekeeping)
Well one can say that the other areas are semi-public while the rooms are absolutely private, and in those the cleaning has to be done in agreement with the guest or in their absence. After cleaning, it has to be realized that the housekeeping staff are the only persons from the…… [Read More]
In order to capitalize fully on the market segment of travelers in search of convenience rather than a particular destination or certain luxuries, affordability and a consistent level of basic quality should be emphasized in both ventures. In addition, the separation of the hotel and restaurant branding is desirable in order to promote the greatest revenue from both ventures. In keeping with the convenience and quality aspects of both business ventures, and the need for consistency and careful management control without extensive owner oversight, Holiday Inn has been selected for the hotel brand and management company, and Chili's has been selected as the brand and operator of the restaurant. This combination should provide the revenue and profitability that the owners are seeking without engaging in necessarily expensive attempts to increase occupancy rates.
Profitability in the hospitality industry can be more difficult to come by than might be imagined, but it…… [Read More]
Previously the element of interest and personal motivation were found missing, the technical capabilities of the employees have never been a matter of debate, however the personal and mental capacities and limitations are either ignored or not respected which resulted in the poor performance of the organization. Apparently, the rise in the demands pertaining to the particpation of the employees and the industrial democracy has also distorted the professional environment. Such all complains were lately resolved and answered through the unique approach of the organization, the organization has understood the significance of the employees, and had realized that their performance is not based upon their professional capabilities, but rather it is the function of the mental capability of the employee related to the friendly and conducive environment offered to the employees occasionally. The need of the employees that focus upon peaceful, conducive and liberal environment has been ensured, which required…… [Read More]
feature of the contemporary workplace is the convergence of, and collision among, traditional and new talents from four different time zones: the Greatest Generation of World War II in the 40s and the 50s; the aby oomers born between 1946 and 1964; Generation X individuals born between 1964 and 1976; and Generation Y individuals born between 1976 and 1995. With different orientations and meeting in common grounds, the problem is how to set them together to produce their generational best without sacrificing corporate objectives and hurting anyone's rights or point-of-view. In other words, how to manage the generations' wide differences in the workplace without tilting the balance towards any particular side or sector.
Let us take a good look at these generations in the labor market. The Greatest Generation on top of the ladder consists of those born before 1946 are the brave souls of World War II who very…… [Read More]
5. Top-level managers are likely to be more focused on management issues and communication with middle managers than on possible personal issues. Top managers are generally focused on the mechanics of effective management, as well as on financial matters. While they should also encourage open communication between themselves and workers, this will often happen via middle managers and focus on business and financial matters. This is particularly so in large and complex businesses.
6. A milestone chart refers to the goals of a company or person. These are generally medium- to long-term goals that are projected for a specific deadline. A to-do list is the short-term actions that will be taken to achieve the goals on the milestone chart. The milestone chart therefore focuses on ideas and ideals, while the to-do list focuses on the practical achievement of these.
7. A PERT network refers to the Program Evaluation and Review…… [Read More]
Managing a Start Firm
Despite the recession and weak growth in the housing market, the U.S. is still one of the strongest regions for trade. The reason why is because, some of the largest developed and developing economies are conducting business with the U.S. In some form. A good example of this can be seen by looking at the below table (which is illustrating the largest import and export partners of the United States).
Largest Trading Partners of the Unites States
("United States," 2012)
The figures are showing how the U.S. is one of the largest countries for conducting any kind of commerce. In the case of the startup firm that we are managing, this is an opportunity to be able to expand market share. To achieve this objective requires creating a business plan that will examine the products to be imported /…… [Read More]
In addition many researchers point out that having a consistent vision and strong, defensible unique value proposition are also critical for the continued viability of a restaurant.
elationship marketing and the ability to build and sustain a loyal customer base are just as critical as the ability to manage a restaurant financially. The immediacy and trust that customers develop over time with a restaurant becomes an integral part of its brand, and the continual reinforcing of this trust-experience-loyalty triad is critical for the growth of any independent or franchised restaurant.
Additional factors that positively affect long-term restaurant viability are having a distinctive and highly differentiated concept that is defensible even in areas where there is high restaurant density. The core concepts of Differentiation, cost leadership, and focus have been suggested as competitive advantages for coping with competition (Porter, 1980, 1985). A firm can achieve profitability over a rival in two…… [Read More]
Sports Bar Management
A sports bar represents a business that could not only be a blast to manage, but also an incredibly profitable endeavor. Yet, at the same time, there is also a significant amount of risk involved in such a business and efficient and effective management is a critical success factor in overcoming any obstacles that are created by the risks in the industry and the local environment. Furthermore, there is a high failure rate associated with the industry based on the associated risks. According to a frequently cited study by Ohio State University on failed restaurants, 60% do not make it past the first year, and 80% go under in five years (Feloni, 2014). There are many factors that can account for the high failure rates of small restaurant and bar businesses, however mis-management is commonly cited near the top of most lists. The most common reasons why…… [Read More]
Leadership in Local Small Businesses
• General Topic and Purpose of Your Study
This research proposal will focus on three to five small organizations in the local community and the types of leadership that can be found within those organizations. The first step will to compile a list of leadership models that would most likely to be found within these organizations and then develop a questionnaire or interview process to see which models would fit best in the organizations. By identifying the leadership styles that are used in the organizations, it could be useful to the organization to understand leadership models and adapt or improve the current styles of leadership that are used in the business
Leadership is a complex concept and there are a variety of different models that have been developed to try to understand the different styles that can be used. It is likely that…… [Read More]
Management of Organizations
Significance of Managers in Achieving Organizational Success
Organic vs. Mechanistic Organization
Process of Formulating Corporate Strategy
Meaning of Organizational Culture
Management of Organizations
Organizational management is one of the most crucial components for organizational success and productivity. This is primarily because the process entails handling various aspects that are geared towards achieving the organization's overall objectives. Some of the most important issues in organizational management include effective decision making and conflict resolution. These important aspects are usually handled by the organization's top management, which play a vital role in ensuring organizational success. For managers, the process also entails formulating corporate strategy and creating a suitable organizational culture that helps in realization of the overall goals and objectives.
Significance of Managers in Achieving Organizational Success
As previously mentioned, organizational managers play an important role in the success of an organization, especially in relation to decision making. Actually, organizational…… [Read More]
American Hotel Lodging Association
Management Carriers under the Hotel and estaurant Industries
Hotel, lodging and restaurant industries are one of the fastest growing career areas in the world today. These industries have very high potential for job creation because they are diverse and dynamic. This sector grows every day in all parts of the world and absorbs many people ranging from the skilled, semi-skilled and unskilled. There is a high demand for services offered by these industries in America and beyond. This high demand forces the operators in this sector to expand and grow in all ways in order to meet their customers' expectations. esearch in the hospitality industry which include hotels and restaurant shows that, this sector grows at a high rate than any other sector. Statistics shows that more than one out of ten jobs in the world today relates to this sector directly or indirectly.
Hotel, lodging…… [Read More]
Food and Beverage Management
Articles eview myriad of ingredients go into the stew that is successful food and beverage service, including: good equipment, good location, excellent product, pleasant atmosphere, quality middle-level management, forward-thinking administration-level hierarchy, and sincere / consistent customer service. And moreover, a vitally essential component which completes the recipe for food and beverage success is a terrific staff, which springs from the planning that goes into finding talent, followed by the training and maintenance of staff excellence through intelligent processes. This paper reviews those issues, and the research which delves into how notably competent H and hands-on management can bring - and keep - high-caliber employees on board successfully.
Article #1: "How the achievement of human-resources goals drives restaurant performance," by Daniel J. Koys, Cornell Hotel & estaurant Administration Quarterly
Attitude" has a different meaning in the 21st Century than it did in previous years. To often today,…… [Read More]
Although all are fast food establishments, the designed layouts at McDonald's, Taco Bell, and Burger King vary slightly but significantly. Of all the establishments, McDonald's is the most image-conscious and intent upon marketing to children. Thus many McDonald's tend to be physically larger than the aforementioned other establishments. McDonald's caters more to fast food dining at the establishment, and containing such ambient elements as playgrounds and cushioned seating areas. Food establishments that cater more to quick dining and try to require less personnel in their design to keep costs down, such as traditional roadside eateries like Roy Rogers tend to allow customers to serve themselves, although chains such as endy's have, to a rather dramatic effect, deployed the use of 'fixings' or salad bars as ways of stressing the homey nature of the enterprise. In contrast, Taco Bell tends to emphasize the inexpensive nature of its offerings and…… [Read More]
Human esource Management -- Employee Performance
Human resource management (HM) has developed into a crucial component of the contemporary business organization and the professional business environment (Fyock, 2001; George & Jones, 2008; obbins & Judge, 2009). Today, formal approaches, practices, and procedures dominate employee recruiting, hiring, training, supervision, appraisal, and advancement and only the smallest organizations still perform those functions in the informal ad-hoc manner that used to be common throughout workplace environments. Especially in difficult economic periods and perpetually within industries with characteristically narrow profit margins or intense competition among organizations, HM functions can represent substantial cost savings and added value where they are administrated efficiently, or they can be the source of significant unnecessary costs and undermine competitive advantage (Fyock, 2001; George & Jones, 2008; obbins & Judge, 2009).
Within modern HM component functions, employee performance appraisal has emerged as a crucial area, largely because it is often…… [Read More]
Knowledge Management Best Practices in Services Industries
The ability to stay on in step with customers' rapidly changing needs is only possible when a company completely commits itself to transforming data into information, while also capturing and using tacit and implicit knowledge. As this analysis will illustrate, data, information and knowledge are multifaceted and have many implications across the lifecycle of a business in general and customers specifically. Concentrating on how the data pertaining to customers can be optimized, this analysis concentrates on the Service Quality (SEVQUAL) methodology and metrics. SEVQUAL measures five dimensions of the customer experience including reliability, assurance, tangibles, empathy and responsiveness (Parasuraman, Zeithaml, Berry, 1985). While the scope of this analysis concentrates on SEVQUAL from the standpoint of capturing data, information and knowledge from a customer standpoint, there are many ancillary implications that also apply to the knowledge-based theory of firms as well. The use of…… [Read More]
eviewed by ____ Project Manager
Signed ____ Date
Approved by ____ Sponsor
Accepted by ____ Client
29 -- QA Audit Form - Purchasing Goods And Services
Comments / emarks
Scope of Work determined.
Verify whether local supply of required product or service has been checked.
Purchasing documents reviewed prior to issue
Delivered goods inspected
30 -- Team Survey
Team members are respected and trusted
Team efforts are recognised and rewarded
Team members are open about problems
All required information is available
Team members contribute to decision-making
Our team has necessary skills & resources
We are encouraged to take initiative
Individual and team goals are clear
We work well together as a team
Organisational systems support our team
31 - Meeting Action Statement
Meeting…… [Read More]
Identify the designated spokesperson for Life Alive expansion program with the role of developing relationships with the target consumer population.
One page communication of the expansion plans, the progress and deliverables
Communication of meetings
Communication status reports, meetings for planning, implementing, evaluation, and monitoring
On a fort night basis
Communication of new products, food, and cafe locations daily
Television, social media, company website, bill boards, word of mouth external
Communication of progress of expansion plan
Email reports external
3.1.1 Project meetings
Communication of expansion progress and deliverables
Marketing Communication Initiatives April 2013-May 2018
These initiatives…… [Read More]
Capacity planning has seen an increased emphasis due to the financial benefits of the efficient use of capacity plans within material requirements. This is particularly true as international competitors are using more efficient and productive means of managing their own capacity. Toyota is prime example of how short-term capacity management can be used to help improve profitability, shareholder return and costs. Insufficient capacity can quickly lead to deteriorating delivery performance, unnecessarily increase work-in-process, and frustrate sales personnel and those in manufacturing. Frustrated customers often quickly elect to purchase a competitor's product when other products are not available. This is also true as Americans elected to purchase Japanese cars as oppose to America cars due to their high quality and high profitability. However, excess capacity can be costly and unnecessary. We have realized this concept with housing production. Excess production has created a large amount of inventory which needs to be…… [Read More]
Time management and scheduling plays a vital role in any company. Our case study analysis will be based on the fact that successfully integrating your department's activities and your own responsibilities with those of the other departments plays a key role in getting the job done on time and with the best results. Every member of the company must be a team player and, as any team player, you have to know what your role is on the field.
After having been recently hired by ABC Inc. And placed in charge of campus recruiting, Carl Robins successfully completed a recruitment program for new possible hires within the company. The 15 trainees were to work for the operations Supervisor, Monica Carrolls and needed to be prepared for their future position. The schedule was pretty tight and just as straightforward: the paperwork regarding the new trainees was to be completed by the…… [Read More]
Subway estaurants Quality Management -- Using Teams in Production Management
Using Teams in Production and Operations Management
Subway estaurants is a privately-held corporation with estimated annual revenues in the $5B range, operating 45,000 locations throughout 100 countries globally. Subway is a subsidiary of Doctor's Associates, a company founded by Peter Buck and Fred DeLuca in 1965 with a $1,000 investment in a sandwich shop on Long Island, NY (Nawrocki, 2006). Market share varies significantly by country and region of the world, with their largest market share being in the U.S. And throughout North America, with nearly 35% of total available market for quick service restaurants (QS) in this region. Their market share through Europe and the Middle East is small, and growing quickly given the brand identity becoming more universally known The company's production and operations department is responsible for translating the strategic plan into a series of strategies and…… [Read More]
One chain restaurant that went bankrupt recently was Bennigan's, which filed for Chapter 7 bankruptcy in 2008 (Tozzi, 2008). All of the company-owned stores closed, and many of the franchise-owned stores also closed. Of those franchise-owned stores that survived, many suffered as a result of the negative publicity and loss of key advertising and purchasing support. hile 138 locations avoided bankruptcy initially in 2008, only 35 of those remained by 2010 (Stockdale, 2010). This paper will examine the external environment in the casual dining industry at the time of the Bennigan's bankruptcy, and the extent to which the company's strategy contributed to its downfall.
In 2008, the U.S. economy was headed for recession, and this has a significant negative impact on the casual dining industry. The industry had 81,000 restaurant locations, making for a highly-fragmented marketplace that was in all likelihood well over capacity. As a result, some…… [Read More]
The capital requirements together with reserve policies were overhauled with the entry of new leadership and avenues of the company. Moreover, the company had to align compensation with long-term returns. The strategies, which were laid by the company after its revival was to settle the dividends of the purchasers, and pay debts, which had been accrued in payments (Stonehouse, 2004).
Porter's Five Force
The Porter's Five Forces have a great influence of the way McDonald's Company has been operating in the market. Literally, the company has embraced all the five figures making up the Porter's Five Forces. These are the forces, which influence the market as it happened to McDonald's Company. The company faced the threat of new entrants into the market. When the company was introduced, it dealt with different products, most of which were also being produced by some other companies. As such, the company had to shift…… [Read More]
The modeling environments was so accurate it could deliver results that aligned at a 95% accuracy rate with the actual results achieved. Another advantage was the use of knowledge management to orchestrate multichannel selling, marketing and service scenarios across the client's specific requirements and needs. The analytics and knowledge management systems were also combined successfully to create a constraint-based engine as well. All of these factors were critical to the success of the system.
The cons of this modeling approach were the lack of precision on pricing ands the ability to model the more finely-tuned aspects of the programs. There was not enough data to create a profitability measurement and the use of constraint modeling at times could leave out the more unpredictable aspects of the marketing mix. hile the virtual marketplace proved effective for testing message, media and defining audience, it lacks the precision necessary for making long-term, highly…… [Read More]
To reduce inventory management costs and errors, enterprise must form a strong, galvanizing connection with suppliers, buyers, internal production, and customers most of all. In conclusion, inventory management will always be part art and science, as tacit & implicit knowledge is needed to provide greater insight into the analysis generated fro enterprise software applications specifically designed to streamline inventory management. The inherent unquantifiable aspects of demand management will also make inventory management a continually difficult, complex problem enterprises must confront daily to stay profitable and grow.
Forecasting and Demand eferences
Leung, S. (2003, Oct 01). Where's the beef? A glutted market leaves food chains hungry for sites; finding spots for new outlets takes heaps of research and an eye for details; hint: Move next to Wal-Mart. Wall Street Journal, pp. a.1-a.1.
Meng, F., Tepanon, Y., & Uysal, M. (2008). Measuring tourist satisfaction by attribute and motivation: The case…… [Read More]
Strategic Management of Human esources
This paper acquaints the reader with the Human esource Management at the largest fast food brand in the World -- McDonald's. It describes the core HM practices which are currently in use at the company and discusses them in the light of modern International H Management practices. The paper also contains recommendations on how McDonald's can improve its H practices.
McDonald's is the World's largest fast food service retailer. Head quartered in Oak Brook, United States; it operates with almost 33,000 fully functioning fast food outlets in 119 countries. It was incorporated as a barbecue restaurant by ichard and Maurice McDonald in 1940. Initially, McDonald's was just offering beef burgers, drinks, and fries. In 1955, McDonald brothers sold it to aymond Albert Kroc who was a franchising agent at that time. ay Kroc took this business to the heights of success…… [Read More]
Cross-National Management: Questions
Although the Chinese company Nice Group and the American company it is entering into a partnership with may not face linguistic barriers, they are likely to face considerable cultural barriers that could impede their mutual understanding. The first likely communications obstacle is one of managerial styles. America is a highly individualistic culture, and tends to prefer managers who adopt an empowering or 'coaching' style, meaning that they either give employees considerable autonomy and/or provide support and guidance to employees. This is true particularly regarding complex tasks that require professional expertise. Employees are regarded as valuable human assets who can make a meaningful contribution to the company. In contrast, within high-context cultures such as China, there is a tendency to prefer a far more directive style of management, and to view employees' individual needs as less important than serving the collective (Motivation, n.d, Handout).
Another issue is one…… [Read More]
The PIVOT Initiative at Midwest Bank - Part I - The MAIC Process
Finding the basic problem was easier said than done. As an example, initially, not much significance was attached to the errors caused by manual strapping. There was no evidence of a pattern until multitudes of graphical analyses were performed. The widely felt minor problems seemed more relevant initially and the course of investigation had to be overhauled completely.
Not much significance was given to quantify the different solutions proffered. Amongst the solution, the most capital intensive was that of procuring the strapping machine. A proper financial and works audit of the expenditure involved was warranted. The improper deposits accrued to the clients was also a point of contention and a feedback for the same from the clients was found wanting. Instances of double entries could be easily avoided by setting up a parallel, independent entry…… [Read More]
The change leader should feel confident about the change if decision criteria are driven by impartial and objective considerations and his position is based on organizational, mission, vision and strategies. Then leader should try to convince all employees on objective and factual grounds while also taking care of their emotional issues. If leaders do not behave well and control their own emotions then employee morale gets affected. "Most executives do a good job of communicating a strong sense of urgency to effect change and move people out of their comfort zones. This often launches a flurry of activities in the right direction to start with. However, sustaining the quality and level of activities is a different ball game. For the abstraction that is called business, it requires more than organizational structure, incentives and job descriptions to have a multitude of people work in a concerted manner towards a common objective…… [Read More]
An it project may need a more rigid timeline, to ensure that deadlines are met in time to test the project for possible security flaws. A nonprofit will require different types of motivational leadership than a sales-drive for-profit entity.
6. A good manger leads, a good manger does not just see him or herself as a manager.
Leadership is not simply delegating and supervising. It is about vision, about making people want to follow an order or a principle. If people do not willingly follow a leader, but merely obey the words of a manager because they feel they 'must' for a promotion, or to keep their job, their work will not be optimal, and thus the organization's performance will not be optimal.
7. A good manager is confident enough to make participative decisions.
People are motivated by leadership; they are also motivated by having a sense of making a…… [Read More]
The project selected for this study is the opening of a new restaurant in New York City. This restaurant will be named: "Home Grown." It will be fashioned after the restaurant-creation in the television program "Fifteen" in the U.K. Food Network, a cable television channel has decided to open the restaurant by hiring fifteen trainees. The trainees will be taught all the requisite skills to chefs. Along with that they will also be able to assess the related needs of the restaurant industry. Jamie Oliver, the mastermind behind "Fifteen" in the U.K. has been selected to head this project along with his sous-chef who would be monitor the daily operations in NY City. The restaurant is to open on Christmas Eve, 2004 and it is hoped that it will be a success. Food Network has a budget of ten million dollars earmarked for this project. Any profits from…… [Read More]
popularity of foreign restaurant: consumer attitude and behavior toward foreign cuisines in Bangkok
Thailand as a tourist destination
Thailand has become a tourist destination hotspot for its scenic beauty, the humble nature of their people, and the relative value of foreign currencies relative to the baht. According to EIU ViewsWire (2003), "Growth in the tourism industry in recent years was the result of the depreciation of the baht against non-Asian currencies (which improved competitiveness relative to destinations outside the region), aggressive marketing campaigns and an increase in the number of airlines offering flights to Thailand." (EIU ViewsWire, 2003)
Additionally, according to EIU ViewsWire (2003), "Tourist arrivals rose by 5.8% to just over 10m in 2001, despote the global economic downturn and the September 11 terrorist attacks in the U.S., bringing in Bt 295bn (U.S. $6.6 bn) in revenue. Thailand benefited from its reputation as a safe and stable society and…… [Read More]
Strategic Management at McDonald's
McDonald's Strategic Management
Strategic Management at McDonald's
Strategic Management at McDonald's
Organizational Structure and Corporate Governance
Industry Sector Analysis
Michael Porter's Five Forces Model
Key conditions in the External Operating Environment of McDonald's and its Industry
The Value Proposition on McDonald's Products
SWOT Analysis for McDonald's
TOWS Matrix for Alternative Strategies
BCG Growth Share Matrix for McDonald's
Marketing, Financial, and esearch & Development Strategies
Joint Ventures, Strategic Alliances, and Partnerships
Performance Measurement Methods and Benchmarks
Table of Contents
Figure 1: Organizational Structure of McDonald's
Table 1: TWOS Matrix
Figure 2: BCG Growth Share Matrix
Table 2: Gantt chart for Strategy implementation
List of Figures and Tables
This report presents a complete analysis of strategic management practices at the world's largest fast food restaurant chain, McDonald's. The report starts by introducing and…… [Read More]
mall-Business Management & Entrepreneurship
The fruition of many years of dreaming and planning will be realized through the opening of a restaurant in the Tri Cities area. Opening any business requires serious planning and calculations, yet the special needs of a restaurant are particular to the idea that many restaurants have gradual and long-term returns on investment. tart-up costs are often very significant with hard goods and food costs making up a very large output, not to mention procuring a location and either a purchase or lease and either building or remodeling space to meet the needs of the business and procuring the real estate.
Breaking even is often a guiding light at the end of a very long tunnel, between six months and two years depending on the region, and turning a profit often takes much longer. Another consideration is of coarse that restaurants usually do not provide a…… [Read More]
NYC African Restaurants
African Restaurants in NYC
The restaurant's soft industrial lighting makes the chrome gleam. A soft and expansive backdrop of blue gives the space a cool and slightly futuristic industrial like a hip loft in the future. Exposed brick walls are tinged in a blue sheen and the distressed wood chairs and tables have been stained steel gray and have marble table tops. In three weeks, Cisse Elhadji, the owner of Ponty Bistro in Midtown, will open his new restaurant La Terengea. Located at 144 West 139th St., the restaurant us nestled in between the Hudson and Harlem rivers a few blocks west of the City College of New York. The location of the restaurant is quite lucrative given its relative proximity to both Central Park as well as Yankee Stadium.
Though Elhadji has succeeded once with an African restaurant, La Teregenga is still a gamble.…… [Read More]
Tose additional taxes are determined at te local level, but Clark County does not impose tose additional taxes. Indiana is also one of te states tat impose state income taxes; terefore an employer in Indiana must prepare witolding information for its employees. Te general requirements of state income tax witolding in Indiana may be found in Ind. Code § 6-3-2.
Finally, in Indiana, business licenses and permits are a matter of local and county law, and tose requirements will be examined in te local law section.
Labor and wage issues are of major concern to employers and are covered by a wide range of laws, ranging from occupational safety issues to weter or not an employer can loan an employee money. An employer must understand all of tese laws in order to be in compliance wit state labor laws. Indiana maintains a state minimum wage, wic is governed by Ind.…… [Read More]
Strategic Management Case Study of Four Worlds Restaurant
WHO? How would you describe the target segment? Which segments does Four Worlds not target? Make assumptions where needed in order to build on the information provided in the text and discuss the type of segmentation that would have revealed the need for such a restaurant as Four Worlds.
Chef Nadero Ravioli and his team of culinary experts have clearly positioned the ambitious and innovative business model of Four Worlds restaurant to target particular segments of the dining market. By devising a prix fixe menu consisting of highly specialized cultural cuisine concepts, the management structure at Four Worlds is hoping to attract high-end consumers accustomed to the luxurious meals Chef Ravioli has created. The purchasing system implemented by Four Worlds also confirms this demographic focus, because an online-only booking system and variable pricing structures depending on time of booking are both provisos…… [Read More]
The business created is an automated restaurant. Autodine Restaurant is a business venture that is expected to flourish and prosper in the forthcoming periods. This is an advanced business idea purposed to appeal to consumers within the market. The restaurant will provide meals and services similar to any 4-star hotel within the nation, and providing exclusive meals every Friday night. The general staffing plan is that human beings will cook the meals served within the restaurant. The rest of the work such as washing dishes, cleaning floors and serving of meals to the customers will be automated. The robots undertaking these services will be fully functional, being able to hear and understand different languages conveyed by consumers and being able to communicate in return (Cumming, 2012). In addition, the robots will be programmed to welcome the clients at the reception. This is meant to add to the appeal…… [Read More]
33% of total sales (projected at $900,000). Actual insurance and taxes came to 4% for the year. This is mostly due to a local business tax increase.
Insurance and taxes expense should be calculated at 4% of total budgeted sales.
With a recommended sales budget of $900,000, this expense should be $32,000 ($900,000 X.04).
Rent is established by corporate headquarters, and it is a fixed expense. An unexpected $10,000 increase in rent resulted in rent coming over budget by $10,000.
Rent was expected to amount to $50,000; however, actual costs amounted to $60,000, as directly imposed by corporate headquarters.
The budgeted amount for the next fiscal year's rent expense should be $60,000, which includes the current rent increase without any envisioning of another.
Budgeted expenses for supplies amounted to $18,000, 2% of total sales ($900,000 X.02). Actual expenses came to $14,000, $4,000 under budget…… [Read More]
"In India, there are no Big Macs because the Hindu people don't eat beef. However, they have the Maharaja Mac, which a Big Mac is made of lamb or chicken meat. There is also a vegetarian burger, the McAloo Tikki" (Adams 2007). However, despite the fact that McDonald's must face what may seem like insurmountable challenges, like selling its 'burgers' in a nation like India where a high percentage of the population is vegetarian or does not eat beef for religious reasons, it still holds to the same quality standards of standardized operating and assembly procedures. This enables the McDonald's style to be exported across borders, even when accommodations must be made.
Meyer similarly keeps a tight reign upon quality control at his organization. But it is quality that his obsession, not that "French fries had to be exactly 0.28 inches thick" (Schlosser 2005). While, "the McDonald's operations manual today…… [Read More]
Eleftria Greek Taverna estaurant Concept
The Eleftria Greek Taverna is a restaurant designed for upscale professional families where both husband and wife work, yet both still want to have fully cooked, ethnic dinners that are of high quality with excellent nutritional value. The concept is that of both sit-down informal Taverna where the dress code is flip-flops and shorts or even business wear. The food serve will be both counter ordering and a more formal area to sit down and have a nice dinner with family. This will be differentiated by a partition in the restaurant. Hours of operation will be oriented towards the business lunch and dinner customer segments, opening at 10 am and closing at 11 pm Monday -- Friday and open 11:30am to 12 am Saturday and Sunday.
Target Market - Upscale dual-income couples making a combined income of $100,000 a year or more and…… [Read More]
Human Resources Management: How to Improve Minimum Wage Policy Management in Hong Kong
The objective of this research is to analyze the advantages and disadvantages of minimum wage legislation in Hong Kong. When hike minimum wage can help lower skilled worker. This study will conduct an evaluation of the minimum wage hiking and how it can help the lower skilled workers and will additionally compare benchmarking minimum wage legislation with other countries, for example the standard of minimum wage.
Following minimum wage legislation the primary problems that employers and employees faced included for employers the turnover rate of lower-wage workers and how to reduce the cost of training that affects the quality of service and the working attitude and behavior of employee lack of enthusiasm. For employees problems included the increase in the unemployment rate and reduction in fringe benefits including such as medical insurance. Included in this study will…… [Read More]
Grill Kabob restaurant SWOT
The position of the proposed restaurant is a high traffic area where the residents and commuters in the region transverse. The location of a business according to (Sengupta, 2005) plays a critical role in influence the business's potential to sell out in the market. In this case, the Fox Valley Mall plays host to thousands of the city commuters and during the weekends and holidays, the traffic increases by 5 to 10%. The traffic presents strength to the restaurant to market its products creating demand and appetite to potential clients.
The proposed restaurant has the strength in product range and customer service. This package offers the customer an opportunity to choose from the wide product range the food that will meet their desires. The customers will be given considerable attention and have an opportunity to have the meal delivered for free. The employees will present…… [Read More]
The lessons of Suarez's career seem especially apt for entrepreneurs in the hospitality industry, where consumer's tastes may be very fickle. Once upon a time, not so long ago, the idea of upscale Asian food, as opposed to take-out, would have been unthinkable. owever, Suarez, despite his innovation and emphasis on the unique, is not averse to altering even his 'whatever' approach, given the demand for franchising upscale restaurants, as people everywhere want to sample a bit of elegance and luxury. According to the article, one day Suarez suddenly though: "Imagine if we had one formula.' Suarez recognizes that a standardized, scalable restaurant is more saleable than a collection of quirky, individualistic culinary marvels," hence his new idea of embarking into hotel chains as well as chains of his most popular restaurant Prime " (anft, 2003).. is willingness to constantly shatter his own old paradigms demonstrates why Suarez has sustained…… [Read More]
2010 MOST ETHICAL RESTAURANT
Starbucks Coffee Company was chosen Most Ethical Restaurant for 2010, according to strict screening methods and criteria (Ethisphere, 2010). These criteria were corporate citizenship and responsibility, corporate governance, innovation in public well-being, industry leadership, executive leadership, regulatory and reputation track record and internal systems and ethics or compliance program. Starbucks is the lone recipient of the award in the restaurant and cafe category (Ethisphere).
Starbucks Coffee Company started as a single an narrow store at the Pike Place Market in Seattle in 1971 (Starbucks, 2010). Its name was inspired from the novel, "Moby Dick," which describes the romance of the high seas and the traditions of the early coffee traders. From the start, the company offered and served some of the world's finest fresh-roasted whole bean coffees. Current chairman, president chief executive officer Howard Schultz first entered a Starbucks store in 1981 and…… [Read More]
Grill Kabob estaurant: Marketing and Financial Objectives
The marketing objective for Grill Kabob restaurant shows the key targets such as recruiting a vibrant sales team that will reach out to the market, branding the business and the employees, steadily increasing the market share and retaining customers.
According to (Fey, Morgulis-Yakushev, Hyeon Jeong, & Bjorkman, 2009) the employees to a business form a significant connect between a business and employees. In this line, employees need to have what it takes to sell the initiated idea while appealing to the potential market. The sales team will be selected in accordance to their suitability to the intended business venture. A consistent assessment will be taken on to ensure that they meet the business' intended image in the market.
Grill Kabob will create a brand name that will heighten potential client awareness in the market. The employees will be branded by downing a Middle…… [Read More]
This strategy was combined with the company's focus on CAFE-based compliance and support for Fair Trade-based trading practices with coffee suppliers. This renewed focus on managing their supply chains to tighter levels of profitability and performance metrics including increasing quality standards has led to a significant reduction in operating expenses and control of variable costs (Starbucks Investor elations, 2011). Starbucks was also able to manage costs of closing locations effectively, and when this strategy was combined with supply chain cost savings, greater focus on in-store profitability and faster new product introductions, Starbucks was able to reverse a negative trend on gross margins and profitability. Beginning in FY 2010 and continuing through the current fiscal period, Starbucks continues to see their gross margins and operating profits including Net Margin, Gross Margin and EBITDA Margin. Figure 1, 5-Year Trend Margin Analysis Shows Impact of Strategic Marketing shows the aggregate impact of these…… [Read More]
Carroll School of Management, Boston College
What are my career goals upon graduating from the Carroll School of Management? And, what steps do I plan to take before, during, and after my degree program to achieve career success in this field?
My career goal after graduation is to secure a position with a respected, visionary and upwardly mobile financial institution, or with any category of leading edge investment / development firm that is recognized as high caliber. In any case, I wish to be an important part of a financial group that specializes in international markets and global transactions.
The reason that I emphasize my enduring passion to be part of an international organization is because I was born and raised in Taiwan, and I saw Western world societies (Europe, the United States) and Third World countries (Africa, Asia, South America) from the perspective of a my well educated and…… [Read More]