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Question - Oriental Bistro and Wine (OBW) is a restaurant and bar business in central Werribee. The business has operated for 20 years and established a fame and a large customer base. Recently, due to an unexpected event, business was put on the market for sale.
James is an experienced chef and he is quite interested to buy it. The negotiation went well until it came to evaluating the value for POS, the restaurant information system. James argues that the POS system is an old version therefore not worth much, but the owner insists that the system has had a trial run for many years to have all problems fixed and bring the system to the state-of-art conditions.
Required -
a. Advise James two approaches (policies) that can be used to evaluate the POS system.
b. Suggest what information (in three examples) James should search for to find the value which would inform his choice of the approaches.
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