Essay Title: 

business communication

March 21, 2016 | Author: | Posted in communication strategies, communications and media

ACQUISITION OF A RESTAURANT – REVIEW OF FACTORS CONSIDERED

Introduction

Food business is a lucrative proposition . It is one business which is ever green and will never go out of fashion . People love to eat food and eating out is a leisure as well as a change in the routine from the drudgery of eating at home . Thus people will continue to patronize restaurants . However the competition in the food business is very intense . The profitability of the business is one aspect of the competition as more and more people want to benefit [banner_entry_middle]

from the business The other factor is the ease of establishment and low initial expectations of the people which has resulted in a large number of new entrants in this business . It may thus be better to take over a running establishment , revamp it and rake in the profits . This will enable capitalizing on the brand value of a place . The restaurant under review has been running well but lack of perception of the need for transformation has led to its decline recently . It can very well be made into a viable business proposition in case the change is brought about systematically . It is thus proposed to address the process of taking over the running business of the restaurant and bringing it back to profitability

Definition of the Problem

The problem relates to taking over a running business which due to lack of adequate change management has not shown growth or been able to make any profits and has been incurring loss of its customer base . Before it is acquired , there is a need to carry out a thorough analysis of the business environment , identify reasons for loss and suggest measures which would be required to be taken to bring it back to profitability Such an analysis if carried out with diligence and exploiting the experience of the associates involved in taking over the restaurant would enable break even within the first year . The key issue being how well is the research structured , adoption of an effective research strategy and analysis of the issues considered

Purpose of

The is designed to attain an overview of the issues involved in taking over a restaurant which has been running well in the past , but at present is undergoing a slump due to lack of appropriate measures to upgrade the services provided by the management keeping in view the aspirations of the customers . Since considerable investments will be going into reorganization and restructuring of the business including financial , personnel and managerial , there is a need to carry out an initial survey of its viability which will also enable adopting an appropriate strategy for running it after taking over . The purpose of the is to address these issues holistically

Research Strategy

The research is designed to achieve the objective of providing effective guide lines for taking over and transforming a restaurant business There are two strands , which can be adopted for carrying out the research , deductive and inductive . The… [banner_entry_footer]

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