Strategic Planning: Restaurant
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Propose a plan that will incorporate the accounting, operations, hospitality, management and strategic planning.
It's common knowledge that the restaurant business is difficult to succeed in and is a very competitive field. I will be a consultant that provides top quality guidance in getting a restaurant up and running AND profitable within 3 years.
I provide coaching in drafting a strategic plan that fits the demographic a new restaurateur hopes to attract. This is the part I am having a hard time on and am not exactly sure how to approach this.
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Solution Summary
966 Words, APA Format
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The response addresses the queries posted in 1111 words with references.
//As per the demand of the assignment, we have to describe a strategic plan for a restaurant according to the need and competition level of the industry. Firstly, we will give a brief introduction about the paper, within 2-3 lines, for example: //
One of the essential tasks of management of a restaurant is strategic planning. It specifies the growth and future of the business enterprises. The strategic planning helps the restaurant business moving in the right direction.
//Now, there is a need to define the process of strategic planning. There are various aspects that should be considered at the time of strategy planning. Instead of directly writing about all the aspects, we will also focus on explaining all the factors and then we will discuss about the process of strategic planning. //
Accounting
The accounting plan and policies of a restaurant are related to the availability, utilization and management of funds. As the business grew in size and became complex, accounting began to take a systematic shape. In due course of time, the general accounting emerged in the form of accountancy based on certain basic principles, rules and conventions. The restaurant needs to record, classify and summarize the transactions in a significant manner for the financial management.
? A bookkeeper or an accountant, who will be responsible to handle all the accounting work, will help the restaurant business as an accounting consultant.
? Organizing receipt and invoices, sending out billing and recording income and expenses would be examined after a fix interval of time, for example once or twice in a week (Bear, 2008)
? Bookkeeping and other accounting works would be done with the help of restaurant accounting software. The software is made especially for the purpose of accounting solutions. The finance could be dealt effectively and ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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