The business problems to be solved will include a restaurants need to improve operation efficiencies, reduce cost, decrease customer wait and sit times, increase customer satisfaction, and have real-time performance monitoring. Although Jade Asian Restaurant has received press accolades, their business has issues need to be addressed immediately. Jade Asian Restaurant had been a popular Chinese cuisine destination for the first couple years after its opening. In the past few years, the popularity has decreased due to its inefficiency in service and food
Besides, if chains closed every time they lost money, there would be a huge loss in just the opening and reopening phases of a business. Consumers of Company Q's have requested that the company provide more health oriented products. After years of requests, Company Q's stores have began to offer a limited variety of products that are better for its consumers. However, of all the viable options of products to carry, Company Q only retains high margin items, that is, items that have a higher profit margin. While it is a positive thing for the company to recognize it's community's need for better foods, keeping only expensive health foods is almost like monopolizing the consumer's health in exchange for
ESTI: Ethical Situations in Business – Task 1 * Part A After evaluating Company Q’s current attitude toward social responsibility in my opinion is that Company Q has a negative attitude. Changing the negative attitude towards social responsibility into a positive one could have a positive effect on Company Q. The company seems to be driven by profit because of the two stores being in high crime rate areas and obviously lost revenue. Management’s idea towards this type of loss seems to be to take the easy way out and close the stores that are not making any profit instead of finding solutions to help resolve the issues. When Company Q finally started offering better quality and more health conscience and organic food options after years of their customers requesting that they do so.
Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
When Kudler makes business improvements, it causes their competitors to either imitate them or get out of the business. Some negative effects a monopolistic competition has on Kudler Fine Foods is that in the long run, profits even out and the company will maintain equilibrium. Entry to this industry is relatively seamless. As new competitors enter the market, the demand curve shifts to the left which thereby reduces economic profit. Productive efficiency is absent in the monopolistic competition.
Risk Factors of Bloomingdales Risk factors play a major role in today’s economy. Since we are stuck in the stagnation period and do not seem to be recovering for quite some time, businesses have to come up with a proper marketing plan that will help sell their products. All businesses suffer from the same risk factors. Some common risk factors include: product quality, price, brand loyalty, competition, managerial skills, etc. Many customers are shopping at lower priced stores because the economy is not allowing them to spend extra money.
However, as consumers are becoming smarter, they are becoming more informed. People are starting to care about where they shop. They want to make sure that when they buy an item that they are buying from a store that cares about people and the environment around them. However, Wal-Mart’s reputation has become increasingly bad. With accusations on discrimination, environmental violations, and their poor worker treatment, it’s no wonder why it is losing its standing with Americans.
This type of rivalry may result in second thoughts by those who are interested in this market. Whole Food relies heavily on its reputation to attract consumers, this type of negative publicity, if continued, will tarnish its reputation, and lead to a loss of consumers. There competitive position is strong within the traditional organic food industry based upon its reputation for social responsibility and the quality of their product. However, whole foods is losing market share and facing increased pressure form larger grocers who are increasing their organic product
The veterans were taking the better clients giving themselves a better commission. This also left the territories under worked and not producing as many sales as possible. The final problem that Dave Thomas encountered was enforcing the strategy and policy with the older sales people. While the younger sales people are driven and respectful to new changes, the veteran sales reps are used to the old way and the enforcement of new changes is difficult. As far as strategy, there is consistently a discrepancy between selling high volume or selling only high margin items.
Why introverts can be great leaders By Eliza Ridgeway for CNN c/div> STORY HIGHLIGHTS Introverted leaders tend to be more receptive to different ideas, new study says Their understated style can lead to improved team performance, according to Francesca Gino Businesses who don't value introverts can miss out, Gino says (CNN) -- Outgoing personality traits are often associated with top corporate roles, but new research suggests businesses miss out when they fail to find and promote executives with more understated styles. Harvard Business School researcher Francesca Gino has found that introverts can play a crucial role in leading teams. Many of the strengths that people associate with leaders, for instance being dominant or being good at giving directives, are often the same traits that characterize someone who is an extrovert, Gino told CNN. But in a forthcoming paper, she argues that when it comes to day-to-day teamwork in the workplace, less obvious leadership qualities can become more important. She and her collaborators asked bosses to rate how extroverted they considered themselves and then studied how their teams worked.