Part 1 (a) I have decided to use section 6 of the study session in book 1. From my research of the Lodge Bistro I have found the following problems within the company. 1)An annual meeting at HQ, instead of regular financial reports and audits. As Patricia has given café managers autonomy to manage their bistro, she computerised the financial report system and audit visits have been minimised. Information management’s purpose is to gather information and based on this information decisions are made. 2)Food and service quality standards are falling as are in particular of the East Chem bistro has been in the bottom 10% with poor quality and key standards are not being met. Goods and services are provided to customer requirements as part of operations in the business.
Part (b)
Different managers do different things – OpportunitiesExpansion or retention of already opened cafeCan increase standards in general especially with East Chem bistro – – ThreatsCafé Rouge, greasy spoon and other food outletsMay possibly have to reduce number of outletsBecause new staff are leaving after being trained. There is pressure on the old staff, the old staff may leave if the pressure gets too muchNon mentioned in case study
Having regular audits and financial reports enables a company to see a clear picture of the organisation. information management is a conscious process that needs to be planned. Having regular updates of the business is information gathered and this assists in any decision making. This is to be used by the business and is most useful at the starting point of the decision making process. The information gathered should be used at all levels of the business not just at senior management positions. Collection of information is essential to support the major functions and activities of the organisation. To ascertain this it is essential to have regular reports of the organisation and to do this you need regular financial reports and audits.
The Business plan on Chartered Accountant Financial Accountants Accounting
Overview A CA (Chartered Accountant) is a professional accountant who has earned the CA title through training and practical experience obtained from the CICA (Canadian Institute of Chartered Accountants). The institute, which has over 66, 000 members, conducts research into current business issues and sets accounting and auditing standards for all types of businesses. A CA is a complete ...
A true vision of the organisation will give any management a better understanding of their situation and will thus help them to make a good viable decision. The second issue was the quality of food and services because the café managers are given autonomy they are free to make decisions about their outlet and how it is run. Thus allowing for each outlet to be individualised and branding of the bistro is jeopardised. When Joyce was in charge she had a strict regime which meant mangers adhered to her rules and regulations. The management may not have been as happy as they are now; they still were given motivation in the form of rewards for the top achievers while under achievers had to change or were sacked.
As a company, evolution should be a smooth transition over time and especially with the current financial climate changing the culture of the company can result in loss off appeal. Once a brand has been formed individualising it can cause loss of identity. The operation of this business is not only the manufacture of your products but also of the services you provide both these are lacking in this chain. Part C
The lodge bistro chain could in future use an information management system.( B120 book 1 page 70) This is useful to accumulate information and to use it for the best intentions of the business this will enable the company to keep records and to use them efficiently. Having an operations manager monitoring existing processes and analysing their effectiveness can ensure that the organization is running as smoothly and efficiently as possible, and that the goods and services produced meet client or customer needs. (B120 book 1, page 69) Word count – 549
The Essay on Business ethic and profit
To a large extent, I agree with this statement. Many companies owners suggested that successful business depend on how profitable the business is, instead of their ethical responsibility to the society. On the other hand, From a business owner perspective, practicing business ethic is time-consuming and costly. However,many multinational companies, including HSBC, Coca-Cola Company, Visa...... ...
Part 2 I made a comment on activity 1.1 saying a ‘good’ business is a business with good communication skills and customer services. I still stand by those remarks but my mind has been forced to rethink about some of the other aspects of a ‘good’ business. My thoughts of a ‘good’ business before were a good business is also a business that makes a profit. As Aimee said a good business does not have to be profitable e.g. charitable organisation. They are there to provide a service and it’s the sustainability of that organisation as to whether it ‘floats’ or ‘sinks’ Their general aims and observations are not about making a profit but about raising funds/awareness or about helping a cause. As long as they are covering their overheads and their aims are met then that is a viable business. Suzanne mentioned a charity makes a profit but as Paula quite rightly said money coming in to a business is more reverse than profit. It would define profit as what is left over from and organisation overheads/expenditures have been met. Revenue on the other hand is money from sales of merchandise or funds from other sources e.g. donations. Word count – 199
