You and three fictional partners have decided to open a restaurant in your local community. The restaurant will be open from 7am until 3pm daily to serve breakfast and lunch. Each of you is investing $50,000 in the venture and, together, you have secured a bank loan for $300,000 to begin operations. You and your partners have little experience in managing a restaurant beyond serving meals or eating in restaurants, and you now face the task of deciding how you will manage the restaurant and what your respective roles will be.
For this assignment, you will create a Panopto presentation using the following guidelines:
Decide what each partner’s managerial role in the restaurant will be. For example, who will be responsible for the necessary departments and specific activities? Describe your management hierarchy.
Which building blocks of competitive advantage do you need to establish to help your restaurant succeed? What criteria will you use to evaluate how successfully you are managing the restaurant?
Discuss the most important decisions that must be made about (a) planning, (b) organizing, (c) leading, and (d) controlling to allow you and your partners to use organizational resources effectively and build a competitive advantage.
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Principles of Management MGT2313
Module 4 Assignment: Opening a New Restaurant Panopto Presentation
Last Updated: 2 May 2022
For each of the four main managerial tasks, list the issues to solve, and decide which roles will contribute the most to your restaurant’s success.
The presentation MUST include PowerPoint slides. Slides should be engaging and represent the type of restaurant that you are going to have (fun, formal, family, romantic, etc.). There must be a minimum of 12 slides in the presentation. In the video portion, you should be dressed according to the type of restaurant you will open (don’t wear a sports jersey if you are opening a romantic restaurant, etc.) and use collegiate-level prose (do not use slang in your language).
For this assignment, use the Panopto website; do NOT use the APP. Whether or not you are familiar with using Panopto, watch the lecture video first to make sure that you are following the appropriate guidelines required by this assignment. Presentations must be a minimum of 5 minutes and a maximum of 10 minutes in length.
