Developing Good Business Sense
Developing Good Business Sense
I have had more experience with working in fast food industries so I decided to conduct my analysis on that of three different fast food restaurants. With the first and second restaurants that I chose I realized that both of the companies??™ employees approach and perform tasks in a very similar way. They both have very structured, standard rules and regulations for all employees to follow. By doing this I believe the company allows little room for errors and it is a good business decision so that all employees have the same code to follow and no one is singled out. All employees are held to the same standard as all others, and are expected to perform at their best as well. With the third restaurant I noticed there was really no structure. There was no management that was taking charge and making decisions, and the employees seemed to have free reign of what they did or did not want to do. This didn??™t seem to be very professional and the business did not run as smoothly as it could.
As stated earlier there were many differences in the last company I analyzed compared to the other restaurants, with the first two restaurants there was a lot of structure. Managers within the businesses took charge and made sure that customers were served properly. They handled all problems that arose within their shift and the company had a very set schedule that helped the company run very smoothly. With the last company there was little structure with not having a manager or someone who is placed in charge of the facility. Employees did not place the customers as their first priority which really hurts the business as a whole. There was a set schedule, but no one to really enforce employees to be on time. It is really hard to run a business that has no structure and with employees who have no standards ask of them.
The main cost of OMM for these companies would be the sale of their product. Fast food industries in a sense do not generate massive amounts of profit. Therefore, they have to watch their output on their products. They generally stay concerned with being wasteful and make sure to keep track of any products that are not used, run out of date, and may be an older promotional item. Keeping down on the initial loss of product helps them balance out their costs, and in turn maintain better profits. This is also true by making sure employees are following a general rule of how much food they have for break, and making sure there are no unethical issues with removing food from the premises.
These companies also have the standard amount of OMM costs that would include electricity, water, storage, and receiving goods from other companies in order to make their products. These costs generally run more expensive than the initial pay of the employees. By keeping a standard that everyone should follow when using these materials they help keep their costs and usage lower so they can take in more profit. It is simply a strategy of how to balance out good business sense versus bad business decisions.
These companies design their operating systems to make the customers experience the best. They offer fast, affordable, and friendly service which helps to bring customers to their business. They also offer new things such as specials, or different menu items which keeps the customer from getting bored with their services or product. This is very helpful to the company and provides a selling edge for other competitors to keep up with. If they are not able to offer the same amount of services or products the business is in a league of its own. Most companies try to make things new for their customers, but if you have a good product from the beginning then you will continue to keep your customers coming back for your new products as well.
Making good business decisions is a must when dealing with the public. Your customers could make or break your business and word of mouth travels very fast. By offering the best services in your industry you allow yourself to gain an advantage in the industry you have chosen. I believe that always keeping things new and fresh for your customers will pay off in the end.
Jones, G. R. (2007). Introduction to business: How companies create value for people. New York, NY: McGraw-Hill/Irwin