Financial Management: Ginny's Restaurant
Ruth’s Chris Steak House was looking for a new business strategy focusing on continued growth of franchise and company-operated restaurants in 2004. Since it was currently a publically owned company, Ruth’s Chris Steak House had to meet Wall Street’s expectations for revenue growth. The question was, “How will we do this?”…
Kudler Fine Foods is a food store that prides them-selves on delivering quality goods and wines to their customers. The store has three locations throughout the San Diego area to better accommodate the customers availability and experience. According to the accounting records, in 2003 the company had over a $600,000 loss. Even though this is the year that the third store was opened, it is still detrimental to a company. A well planned marketing system can increase profits year round and make a great impression on its customers (Gordon, 2006). Kudler Foods has a descent marketing system right now but it could always be better.…
Kudler Fine Foods (aka: Kudler’s) is a popular San Diego area gourmet food store with strong revenues. Past plans for strategic growth included store expansion and online sales, yet since the 2008-2009 economic recession, Kudler Fine Foods has found itself short of financial reserves and having to abandon those plans. Kudler’s main goals have always been to expand the company and increase revenues and profits. Not only is Kudler Fine Foods a popular venue, but a high caliber gourmet store in great demand. In consultation,…
After contemplating many different strategy options and evaluating our markets, the Ferris group decided that we would utilize and follow a strategy discussed in chapter 6 of Wheelen and Hunger’s text[1]: cost leadership. This strategy focuses on “a lower-cost competitive strategy that aims at the broad mass market and requires efficient scale facilities, cost reductions, and cost and overhead control. This strategy avoids marginal customers, and aims for cost minimization in R&D, service, sales force, and advertising.” If used effectively, this strategy should reduce and control your labor and overhead costs. This would in turn decrease variable expenses and simultaneously increase your contribution margins, and ultimately your net profits.…
Pricing strategy 40 Budget 42 Start Up/Grand Re-Opening 44 Request for Financing 45 Repayment Plan 45 Debt Repayment Contingency Plan 45 Risk Analysis 45 Exit Strategy 45 Identified thresholds 45 Policies for Dealing with Shortage or Over Budget Situations 46 Planning and Uncertainty 46 Appendices: 47 Resumes 47 Personal financial statement 47 Outstanding loan documents 47 Insurance 47 Capital equipment list 47 Legal documents 47 Other items 47 Table of Figures Figure 1: BSB Full Service Restaurant supply vs. demand 11 Figure 2: Eating & Drinking Household Expenditures in the U.S. (in Millions of Dollars) 13 Figures 3A & 3B: Illustration of US Restaurant Industry Growth & Sales 13 Figure 5A: Silver Bow County Percent of Consumers per age group 2014. 20 Figure 5B: Silver Bow County percentage of consumers per age group 2019 forecast. 20 Figure 6:…
Programme: Higher National Diploma (HND) in Hospitality Management Unit Title and Number: Finance in the Hospitality Industry (Unit 2) QCF Level: 4 Table of Contents INTRODUCTION: .................................................................................................................. 3 P 1.1 .................................................................................................................................................. 3 P 1.2 ......................................................................................................................................... 7 BIBLIOGRAPHY:............................................................................................................................ 8 TASK 2.................................................................................................................................. 10 P 2.1 ................................................................................................................................................10 P2.2 .................................................................................................................................................11 BIBLIOGRAPHY:..........................................................................................................................14 TASK 3..................................................................................................................................…
The food industry in Canada, with its highly competitive market continues to evolve and change each day, affected by its financial surroundings, mechanical progression and accordingly, the shifting nature of consumer behavior (Office of Consumer Affairs, 2013). Canadian restaurant sector can be divided into three groups, the fast food or quick service, the mid- scale casual dining, and the fine dining. Ostensibly dominating the second group of casual dining is the Boston Pizza International Inc. (also known as BP). This research project is based on the Boston Pizza perceived as a Platinum Member of Canada 's 50 Best Managed Companies. This is to appreciate how the company has placed itself in the market and the factors at play, which have contributed not only to scale the pinnacle of success but also ward off the strategies of competitors and new entrants alike. Data collected is through the information available on the company’s website and other relevant websites, journals and articles and hence the implied limitation. It begins with the evaluation of the impact of various functions of the Boston Pizza such human resources, finance, operations, and marketing. Review of the organizations design and departmentalization with respect to the geographic location, products, services, and marketing…
Dual-income families are searching for an affordable alternative to preparing meals at home. Boston Chicken satisfies this need by preparing food that customers view as high quality, healthy and convenient. This home meal replacement is a hit with value-customers” (Palepu, 2013). Roger Lipton on the other hand has a different point of view. Lipton feels that “the quality of earnings is very low, since all of Boston Chicken’s income comes from fees, royalties, and interest payments from franchisees, most of whom were financed by the franchiser” (Palepu, 2013). Looking at the company’s income statement, Boston Chicken shows tremendous financial results, but once a more detailed look into the financial statements is taken, specifically with respect to the financing activities, the circumstances change. To provide financing for its rapid growth, Boston Chicken went public in November of 1993. Boston Chicken raises money by issuing stock and issuing of debentures, which they then lend to its franchisees. This creates a problem because there is a high risk that the franchisees will not return the money owed on the loan and the interest on the loan is high. The reason for the high risk is that the franchisees will not be able to return the money on the loan is because many of the franchises they were loaning money to were not profitable. According to Lipton, actual average weekly sales were only $18,900 per store, implying that franchisees were losing money (Palepu,…
Boone, L. E. & Kurtz, D. L. (2012 Update). Contemporary business (14th ed.). Hoboken, NJ: John Wiley & Sons.…
Adding Multimedia Chipotle Plans Major Solar Power Initiative. (2009). Bloomberg.com. Retrieved on November 6, 2011 from http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=CMG%2FB:US&sid=aBDYgZAMPGlw…
Hello Jackie and thank you for your honest posting about nursing and financial management. I too have very little experience with marketing, budgeting , and economics. I consider myself a more scielnce person so this coarse was very challenging to me as well. I am embarrassed to say that I struggled sometimes with the subject matter just because I am not as finicaially as savy. Nurses have to have more knowledge about patients and costs of nursing expenses. I do not think you failed because as we fail we learn and this is what this coarse was really all about to expand our knowledge of nursing economics and management. I think nursing and compensation is going to change for the worst .I am afraid to say it and I realize that that goes against the grain but more people are going into nursing for the security of a job and not the passion so the demand and need will decrease I know there are a lot of jobs out there but they are not filled due to budgeting which is essential and necessary to keep costs down and to maintain budgets. As you say nurses are under paid and likely to stay that way because with the economic downturn the demand has decreased so the education requirements have increased. I think its key for us all to network and utilize our resources now more than ever. Developing relationships with people in our organizations we work for and networking builds coalitions to influence goals and resources which allocates lateral relationship building, where there is no influence or authority, helps nurses effectively attain their goals Finkler, Kovner, & Jones, 2007).SS…
Our vision and strategic focus on adding value to our target market segments, the small business and high-end home office users, in our local market. Electronic Connection will change its focus to differentiate itself from box pushers and improve the business by filling the real need of small businesses and high-end home offices for reliable information technology including hardware, software, and all related services. Our marketing challenge is to position our product and service offerings as the high-quality, high-value add alternative to box pushing in a vacuum. (Scribd, 2011)…
IB1140 Page 2 of 18 ---------------------------------------------------------------------------------------------------------------SECTION A Answer ALL of the questions in this section Each question is worth 2 marks ---------------------------------------------------------------------------------------------------------------1. Which of the following statements is most consistent with the evidence on market efficiency? (a) (b) (c) (d) (e)…
An individual stock's diversifiable risk, which is measured by the stock's beta, can be lowered by adding more stocks to the portfolio in which the stock is held.…
Business firms exist because they satisfy a human need by providing a product or service. No business firm can be established without sufficient financing. The owner(s) therefore put personal loans they have entered into, and/or their hard-earned savings, at stake to partially finance the firm.…
