At Your ServiceEssay Preview: At Your ServiceReport this essayWeek 5: The Award Phase – You DecideAt Your ServiceAccording to the situation from scenario that Chris and Pat Smith, entrepreneurs with five years of experience investing in small businesses. Eighteen months ago they decided to invest in a catering venture with two chefs, J. P. Martin and L. L. Miller, who have culinary science degrees and five years of work experience, which includes winning a prestigious prize in a gourmet food competition. Following some extended discussions, the four of them decided to set up a business catering to parties and weddings under the name of At Your Service.
Unfortunately, this project seems to be fail after eighteen months since the business started. To analyze the failures, entrepreneurs should understand and know how to run the business in the right direction otherwise they might not be able to reach the businesss gold.
Generally, in the restaurant business, investor should prepare the capital reserve for the fixed cost such as rent, utilities and labor cost at least 6 months ahead since the business starts because no one knows when the business will earn profits. There are so many factors that business owner cannot expect to make money right away.
Team or partnership is one of the most important things while setting right profitability to partners is the next part. In this case, Chris and Pat Smith made a disadvantaged agreement that the profits would be split 50-50 after clearing fixed expenses while those two chefs invested just $10,000 of 35,000 or only 28.6% of the whole capital. The profitability between Chris and Pat Smith and chefs should be approximately 70-30 not 50-50.
Business owner should know how much chefs spend on the food cost? What do they order? Is it short or over stock? Comparing to revenues, what the business owner should do if the costs are too high. This problem needs to be fixed immediately otherwise the company will keep loosing more capital instead of making profits.
Lack of communications is one of the failures that could take the business down. In case of the company does not make benefits, business owner cannot blame on chefs that they do not know how to manage business because they are just food expert not a businessmen. Management has full responsibility to coordinate directly with chefs and provide guideline to them how much they should spend on goods and kitchen staffs.
In the situation of breaking even on the first year, Chris and Pat Smith should adjust their marketing strategies. One year is long enough to know that the business is hit or miss. Instead of raising 10% up on the price when Chris and Pat Smith noticed that chefs changed menus, offering more elaborate dishes with more expensive ingredients while the prices are the same. They should discuss with the chefs how to use more simple ingredients while the food are still taste good and interesting to the customers. These dishes do not only cost too much, they also take too much time to prepare, limiting their availability to take on more jobs which means the company has to spend more on labor cost.
A Better Workforce In an age where the business of hiring and firing is growing rapidly, Chris and Pat Smith should consider a different approach to the job. Not only do they need to increase their recruiting and retraining, they need to move forward with their plans to have a viable workforce in the industry. Pat Smith and Chris should be able to put their own talent on the table to support those seeking to enter the field, who will likely be looking for work. These employees should be motivated by the desire to move into the industry they are hired with and have high-paying, highly talented careers to go on. For those considering joining the market-conscious, Chris and Pat should also consider changing their marketing goals because they believe in a better working-economy and are considering a change of plans. In Chris’ words:
It should be apparent that no one in the current job market will be able to find work. The current job vacancy rate is 20 percent. Some of those in a recent job search are hiring people to fill new jobs and creating new jobs. With the right attitude, any person can become an “investment banker,” an insurance agent, a technical engineer, an investor, someone with more expertise, etc., and a job that helps people. As we can see, you can become an investment or just another investment banker if you take a hard look at who they are and who you want them to be.
In the current job market, I see no real need for people in a position of power to act as investment bankers. What’s really important is not to be taken for granted. You will not find someone in this position who has the potential to be a great asset to your company or a great partner.
As a result of my study, I began to find that, while there is no such thing as a pure employer, there is often some kind of opportunity for companies and individuals to become more involved with the needs of their own customers in the changing marketplace. This is because there tends to be a wide gap between job opportunities and employee employment and it can be hard for any individual to fill the same positions. By having access to more jobs when the market conditions aren’t perfect or when businesses may not have any, employees are able to be more productive in their professional pursuits. It’s also important that companies keep having employees participate in the management functions of their team, making them more accountable on their work in the market, and make them more willing to make important decisions about themselves. This can mean that teams of employees are more likely to get promoted, more likely to get promoted when it doesn’t seem like the job market is perfect, and that job vacancies have risen. The point of this study is not to become self-absorbed, but to help businesses develop a business plan through the hiring process. This will ensure that no job offers are placed on people who can be hired for more.
This study does not suggest that an individual may succeed in the job market. It is meant to suggest that when employers have an ability to leverage their influence to create a team of employees through management, that it is difficult or impossible for them to fill that position.
The job market has grown and people believe that in order to go ahead economically, their job needs to involve more than simply making a few simple decisions. It is important to recognize that the job market is growing and employers will continue to expand, and those that want to be a part of this change will benefit from providing leadership, making better decisions, and making this transition work.
Our next step is to find ways to help businesses adapt to the changes that they are going to face. As we see in our previous study on market leadership, businesses will have to face challenges of many types as well as be able to respond to the challenges with different strategies, such as investing as a manager, hiring as a creative consultant, or hiring to help build new capabilities such as human resource management or support systems. The business model of a company should
“In a country like Canada where so many people struggle to find jobs, the more I look at the issues facing Canadians, the more I look for them not only the food and the culture but the career paths. I see people who will go on to become successful in the industry if they are motivated by the desire to do a job for a living. As a human being at the heart of the business, Chris wants to make sure we do everything in our power to ensure that Canadian families have a job that they can pursue.
We want to do all we can to make sure that their options are as affordable as possible, but unfortunately that goes for a lot more people in the world right now than what we are. There is a huge need of talented people who can perform the work and get to that level… as long as there are some people in our company who are willing to pay that very little for the opportunity?Â
Please share this page to let us know your thoughts of Chris and Pat Smith as they consider their first steps into the American restaurant scene.”
#1 Tips for Employers on Job Search
A Better Workforce In an age where the business of hiring and firing is growing rapidly, Chris and Pat Smith should consider a different approach to the job. Not only do they need to increase their recruiting and retraining, they need to move forward with their plans to have a viable workforce in the industry. Pat Smith and Chris should be able to put their own talent on the table to support those seeking to enter the field, who will likely be looking for work. These employees should be motivated by the desire to move into the industry they are hired with and have high-paying, highly talented careers to go on. For those considering joining the market-conscious, Chris and Pat should also consider changing their marketing goals because they believe in a better working-economy and are considering a change of plans. In Chris’ words:
It should be apparent that no one in the current job market will be able to find work. The current job vacancy rate is 20 percent. Some of those in a recent job search are hiring people to fill new jobs and creating new jobs. With the right attitude, any person can become an “investment banker,” an insurance agent, a technical engineer, an investor, someone with more expertise, etc., and a job that helps people. As we can see, you can become an investment or just another investment banker if you take a hard look at who they are and who you want them to be.
In the current job market, I see no real need for people in a position of power to act as investment bankers. What’s really important is not to be taken for granted. You will not find someone in this position who has the potential to be a great asset to your company or a great partner.
As a result of my study, I began to find that, while there is no such thing as a pure employer, there is often some kind of opportunity for companies and individuals to become more involved with the needs of their own customers in the changing marketplace. This is because there tends to be a wide gap between job opportunities and employee employment and it can be hard for any individual to fill the same positions. By having access to more jobs when the market conditions aren’t perfect or when businesses may not have any, employees are able to be more productive in their professional pursuits. It’s also important that companies keep having employees participate in the management functions of their team, making them more accountable on their work in the market, and make them more willing to make important decisions about themselves. This can mean that teams of employees are more likely to get promoted, more likely to get promoted when it doesn’t seem like the job market is perfect, and that job vacancies have risen. The point of this study is not to become self-absorbed, but to help businesses develop a business plan through the hiring process. This will ensure that no job offers are placed on people who can be hired for more.
This study does not suggest that an individual may succeed in the job market. It is meant to suggest that when employers have an ability to leverage their influence to create a team of employees through management, that it is difficult or impossible for them to fill that position.
The job market has grown and people believe that in order to go ahead economically, their job needs to involve more than simply making a few simple decisions. It is important to recognize that the job market is growing and employers will continue to expand, and those that want to be a part of this change will benefit from providing leadership, making better decisions, and making this transition work.
Our next step is to find ways to help businesses adapt to the changes that they are going to face. As we see in our previous study on market leadership, businesses will have to face challenges of many types as well as be able to respond to the challenges with different strategies, such as investing as a manager, hiring as a creative consultant, or hiring to help build new capabilities such as human resource management or support systems. The business model of a company should
“In a country like Canada where so many people struggle to find jobs, the more I look at the issues facing Canadians, the more I look for them not only the food and the culture but the career paths. I see people who will go on to become successful in the industry if they are motivated by the desire to do a job for a living. As a human being at the heart of the business, Chris wants to make sure we do everything in our power to ensure that Canadian families have a job that they can pursue.
We want to do all we can to make sure that their options are as affordable as possible, but unfortunately that goes for a lot more people in the world right now than what we are. There is a huge need of talented people who can perform the work and get to that level… as long as there are some people in our company who are willing to pay that very little for the opportunity?Â
Please share this page to let us know your thoughts of Chris and Pat Smith as they consider their first steps into the American restaurant scene.”
#1 Tips for Employers on Job Search
It is about the time to make a decision for Chris and Pat Smith to continue or let go the business because of the $35,000 investment is rapidly disappearing. They are down to $15,000 in working capital and everyone has no more money to put into the business including chef Martin and Miller.
The issues that have to be resolved are as follows:How to split the $15,000 left in the investment.How to handle the lease on the kitchen space, which has 18 months more to run.How to handle the lease on the van, which has 18 months more to run.How to handle the lease on the kitchen equipment, which as six months more to run.If I were Chris and Pat Smith: My goal is to negotiate an agreement worth as many points as possible. To reach an agreement with the chefs, I must gain at least 100 points.
How to split the $15,000 left in the investment?When the conflicts still continue, Martin is so