Every business has got its shortcomings, and Mr. Francescos business is not any different. The business has, over the recent past, witnessed a backdrop on sales and clientele attendance more so during the week. To rejuvenate the once-booming restaurant business, Mr. Francesco has opted to utilize his managerial and leadership skills to bring back to life the business through some strategies; first is to come up with an all you can eat menu. The menu is effective in the sense that it accommodates all the customers since all that one may need to eat is in an assortment of the menu. To effectively put into gear the plan, the deemed slightly high food prices have been cut down to suit the customers pockets. Foods which were being sold at $ 36.15 have been significantly reduced by $7.25 and the beverages which were selling at $ 18.80 have witnessed a reduction of $ 12.50. These reductions in food and beverage prices are purported to draw back the customers to the restaurant, and it will obviously result in a larger turnout of the customers in the inn. The cost of the food is automatically going to go below the normal curve. From the previous statistical percentage of 32%, with the reduction, the new food cost percentage will be 28.91%. The new order of work which gets scheduled for Monday, Tuesday and Wednesday evenings will ensure that customers attendance gets beefed up at the start of the week all through to the mid-week thereabout.
The outcome of the new strategy will be measured regarding constant monitoring of customers visitation and perception. The customers book of records will get utilized like never before so that the effects of the changes are felt, and in case of any adjustment necessity then all can be met with immediacy and effectiveness. Also, the customers will be urged to leave behind brief comments on the suggestion box. This simple procedure will help the management and the entire staff of the restaurant to take their appropriate stance since they shall have known their customers choices and preferences through the samples of the clienteles comments. Equally notable, the management and the staff will be able to gauge the amount of food prepared daily for the buffet and the whole of the menu. The number of the attendants will be significant to determine the amount of food to be prepared on a daily basis considering the subsidy in food and beverage prices. Moreover, the issue of carrying overs and waste will be well taken care of since everything will be protracted and executed as priory planned. With a close semblance of the issues to be monitored, the difference in margin concerning the contribution of the buffet and the a la carte should assume cognizance. The mentioned will enable the proper rationing of the heterogonous two dishes, if possible the highest selling and most likable by the customers will be availed in abundance so that it may impact the overall sales of the food in the restaurant and automatically impact the ultimate sales returns. Lastly and of most interest is the overall effect on the sales volume and profitability. Nearly all businesses are meant to generate profit which is the real measure of the growth of the business. By the end of the term of the business, the management should be able to deduce whether the business made a positive profit or a negative gain. The net profit should make sense to ensure continuity of the business in the next business year or term. When the sales volume is significant, then the profit will escalate with no doubt hence the positive progress every business desires and strives to attain and maintain.
In my opinion as one of the stakeholders of the restaurant, I would access the profit-related problems in a queer manner and employ vigilant strategies. The strategies are as follows; first I would make my hypothesis on what I want the business to look like, this will keep me on toes to ensure that the business goes the way I have planned it to be. The hypothesis will make me set ambitious goals which are reasonable and attainable at the same time. Also, keen monitoring of the staff will be of much importance. The staff should be effective in whatever manner and levels they serve the customers. Sufficient staff will ensure the smooth running of the business and full attention to the customers. Closely associated with the staff is the remuneration terms. It gets prudent to allocate the staff a good pay that keeps them up to task zealously. Besides, as the management, I would incorporate motivational exercises among the working staff, for example, a free sponsored vacation for all the staff members, promotion of the excellent, hardworking staff and even salary increment among the members of the staff. Again of much bearing is the general outlook of the business premise, it should be attractive to the customers, and this becomes possible with quality design and branding of the premise. Attractive coloring and aftersales services such as free drinks for customers, free voucher, and entertainment for customers will give more prominence to the premise and the business itself. The environment in itself is of much importance as any other factor in the business; a cool and classic environment is worth consideration since it will lure many customers to the premise.
Equally notable, the image of the business should be appealing to clients. Proper imaging should be the first thing to put into consideration. A physical use of questioners among the residents of the situation of the premise and auditing of the business will give a clear picture of the image of the business. Through publicity of the business, it garners awareness, and many people will draw much interest of the place. Proper imaging, therefore, will make famous the business hence a lot of customers will attend the restaurant, and the resultant effect gets realized on the profit at the end of the subsequent business terms.
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