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Contemporary Management 7th Edition by Gareth Jones,Jennifer George
Edition 7ISBN: 978-1259545474Contemporary Management 7th Edition by Gareth Jones,Jennifer George
Edition 7ISBN: 978-1259545474 Exercise 2
Opening a New Restaurant
Form groups of three or four people, and appoint one group member as the spokesperson who will communicate your findings to the entire class when called on by the instructor. Then discuss the following scenario:
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.
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.
Form groups of three or four people, and appoint one group member as the spokesperson who will communicate your findings to the entire class when called on by the instructor. Then discuss the following scenario:
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.
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.
Explanation
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The managerial tasks which includes the planning, organizing, leading and controlling plays a vital role while making decisions regarding the resource allocation and building the competitive advantage.
In the given case of the newly launched restaurant the relevance of these managerial tasks in making the decisions related to maximum allocation of resources and building competitive advantage are discussed.
Planning : The decisions made through planning the resources required for successful operations like the human resources, raw materials etc are very important. The planning decisions related to the customer service and the credible suppliers of the resources are important for the competitive advantage.
Organizing : The decisions related to the structuring of the resources based on the requirement can contribute to the better utilizations. The decision like conducting morning briefing can make the operations in a organized manner. This can make the managers to guide the employees appropriately which can lead to the quality of service and hence the competitive advantage.
Leading: The decisions related to motivating the employees through rewards and recognition can lead to the achievement of quality of service. It generates a commitment in the employees which makes them to utilize the resources effectively and hence the competitive advantage also.
Controlling : Monitoring the employees for the achievement of the personal and the organizational goals are important for the sustainability. Controlling can make the employees conscious about the excessive use of the available resources. The controlling decisions can shape the employees to work towards the goal achievement.
In the given case of the newly launched restaurant the relevance of these managerial tasks in making the decisions related to maximum allocation of resources and building competitive advantage are discussed.
Planning : The decisions made through planning the resources required for successful operations like the human resources, raw materials etc are very important. The planning decisions related to the customer service and the credible suppliers of the resources are important for the competitive advantage.
Organizing : The decisions related to the structuring of the resources based on the requirement can contribute to the better utilizations. The decision like conducting morning briefing can make the operations in a organized manner. This can make the managers to guide the employees appropriately which can lead to the quality of service and hence the competitive advantage.
Leading: The decisions related to motivating the employees through rewards and recognition can lead to the achievement of quality of service. It generates a commitment in the employees which makes them to utilize the resources effectively and hence the competitive advantage also.
Controlling : Monitoring the employees for the achievement of the personal and the organizational goals are important for the sustainability. Controlling can make the employees conscious about the excessive use of the available resources. The controlling decisions can shape the employees to work towards the goal achievement.
Contemporary Management 7th Edition by Gareth Jones,Jennifer George
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