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You and a close friend whom you know for the past ten years have decided to set up a restaurant together. Your friend has recently inherited $150,000 and would like to invest that in the business. You have completed your qualification in business. Now, for the same business, assume that you are appointed its Operations Manager. Please answer the following with respect to that specific business, considering the form of ownership suggested for the business, its products, customers, market and location.
a) Which of the following methods would you use for production and why?
b) As your business has good potential, you expect that there will be competitors which may lead to intense rivalry. How will you apply Porters Five Forces Model to develop a strategy that ensures continued success for your business?
Explain these both questions. Write maximum words.
The purchasing agent for the hospital has an opportunity to take advantage of one of several quantity discounts. The pricing schedule is listed below.
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1.1) What mistake does a quarter of Americans commit regarding their retirement savings?
The course textbook states that "most business initiatives succeed or fail based on the quality of their data" (Turban, Volonino, & Wood, 2015, p. 37).
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