"Running head: RED IGUANA, THE FAMILY BUSINESS . . . 1Red Iguana, The Family Business . . .California Intercontinental UniversityMGT 662, Entrepreneurship and Small Business Management RED IGUANA, THE FAMILY BUSINESS 2Red Iguana, The Family Business . . .1965 was the year that Ramon and Maria Cardena’s immigrated from Mexico left theirst jobs in San Francisco and opened their 1 restaurant, Casa Grande in Salt Lake City Utah. Theywere on a journey to serve ?un-Americanized Mexican food," unlike most Mexican foodrestaurants in the market that they set out to serve (Scarborough & Cornwell, 2015). In this Case Study #4, Ramon and Maria are faced with many challenges and choiceswhich directly affect their business and succession planning. ?Your work is going to fill a largepart of your life, and the only way to be truly satisfied is to do what you believe is great work.And the only way to do great work is to love what you do.?– Steve Jobs, Co-founder, CEO, Chairman Apple Inc.I will address this analysis with direct questions sought after in this case study and stateopinions that are derived from my research:Management succession issues detected in this case? Steps that could be taken to avoidthem?ANSWER, There was slow sales issue, Ramon Cardenas did detect in the Casa Grande. Thesteps Ramon Cardenas could have taken to avoid the issues are:? Marketing – is no longer about mastering the use of traditional channels, but about con- stantly innovating and utilizing creative solutions that will maximize returns . . . Creativi- ty is critical to differentiate one's message, grab people's attention and reach the variousaudiences that are being targeted (Davidson, 2015). To keep their good relationship withthe customers, they must also focus on the mode of serving the food and its timely deli-RED IGUANA, THE FAMILY BUSINESS 3very. Management must make decisions that are according to the client's tastes and prefe- rences. Current day and times advertising modes must be utilized. Media platforms suchas Facebook, Twitter, LinkedIn and same social media platforms. When Ramon and Ma- ria opened a restaurant in the Mexican City, customers directly sought authentic Mexicanfood, instead of the semi- Mexican food to the prospective customers that they were serv- ing in the United States (Davidson, 2015).? Uniqueness- Cardenas must focus on the quality of food; they serve because this can be abig reason for the slow sales of the Casa Grande. They may concentrate on the creativemenus for their small restaurants and also the creative or attractive interiors which makethem unique from others.? Communications – Casa Grande must communicate with their employees to sit and talkon the issue regarding slow sales rate. He may try different strategies like regular meet- ings, salary increment, regular review, informal talks to motivate their employees towardsthe work for the team not as an individual. A good staff can make a mediocre restaurant into a good restaurant. A weak teammay convert it into the average restaurant. Sales depends on the how staff behaved to thecustomers, how they serve, are they hygienic or not. A good leader is worth for the goodstaff management.? Technology – Cardenas must focus on the new technology to push the sales of his restau- rant. Technology makes a difference. Technology like online delivery is playing a vitalrole in the success of any small or large scale organization. There are much technology RED IGUANA, THE FAMILY BUSINESS 4came like roti maker, dish washer system which not only saves time but also saves timefor the employees to work in other productive segments of the dining businessLucy and Bill eventually were able to purchase Red Iguana from her father for $560,000.Describe at least three methods that the family could use to establish the value of thebusiness (Scarborough & Cornwell, 2015). What factors make placing a value on a businesscomplicated? ANSWER: The three methods that the family could use to establish the value of the business:? Training to new or existing employees – Lucky and Bill purchased the Red lguanaat thestage when Casa Grande at its flourished stage. The lucky and bill must come forward togive formal training to the new or existing employees to work in their family restaurant.They can use many strategies like to train on projector, videos, power-point presentationto make the employees aware of how they do work. Management must tell the story be- hind the existence of the restaurants to the employees.These strategies ensure that each employee gets the same information. Storytel- ling plays a vital role as it grabs the attention of both employees and customer. Otherstrategies like small group discussion with the full team and let the employees come upwith their opinions for the growth of the restaurant. ? Food service and quality – quality of the service can be enhanced by the customer andstaff feedback. Lucy and bill must try to take regular meetings of the employees to knowtheir opinions about the service and facility of the restaurant. They must look into theservice department by giving training to their waiters and waitress. The quality food isthe foundation of any dining business. If the management fails to provide the qualityfood, then their business is at risk for sure (Davidson, 2015). RED IGUANA, THE FAMILY BUSINESS 5? Creativity – These characteristics play a prominent role in presenting the product. Lucyand Bill must continue to be creative in interiors and décor as they continue to attractlargelyVolumes of customers, especially after being featured on Guy Fiero, Food Networkshow, Diners, Drive-Ins and Dives (Scarborough & Cornwell, 2015).dishesanddrinks creativit present interiors yforms ation service Should Lucy and Bill open a second location of Red Iguana? If so, what factors shouldthey consider when selecting a location?ANSWER:Yes, Lucy and Bill should open a second location of Red Lguana because whenthe construction on their site starts, it gets affect their sales of their family business. "