Restaurant Business in London - Essay Example

Restaurant Business in London The important elements of restaurant business are to precisely define the business, identify the goals and servethe restaurant with at its best. . Pro forma balance sheet, an income statement, planning precise strategies and cash flow analyses comprises the basic components of a restaurant business. Preparing a marketing plan helps in the allocation of resources properly, making good decisions and handling of unseen or unexpected complications that may become hurdle in the future development of the business. One of the important aspects of restaurant business is that it provides organized information and importantly a good business plan helps in attaining a loan application. Other important applications include informing the details of the restaurant business to the sales personnel, suppliers and others so that they become aware of restaurant business's goals and achievements. Let's look at the essential elements of restaurant business for a computer-centralize system and for the growth of the business with proper technology associated with a group of restaurants. Giraffe restaurants comprise of group of eight restaurants based in London and concentrates more on weeknight business clienteles. Employing proper technological applications for appropriate work solves many problems. Giraffe restaurants use outdated technological applications that create more problems than solutions. Giraffe restaurants use standalone PCs to meet the requirements like billing, checking in and checking out of the customers etc. Using PCs is not the problem; the problem arises due to non-availability of network systems in the five restaurants. They don't have any central reservation systems that can keep them updated about the different activities of the restaurants all the time. Most of the work is done manually at these eight restaurants. All the eight restaurants general managers are answerable to group managing director (MD). The restaurant general mangers prepare a report by extracting the required data from various systems of the restaurants and create management reports using a word processing application. This report is submitted to the group-managing director that would be analysed to make any changes in the daily activities of the restaurants. .Many of the natural habitat development and Restaurant business sites have tried to develop their Restaurant business to luxurious villas and motels. United Kingdome being the leader in developing the Restaurant business can take up the cause more seriously but developing Restaurant business is an important concern for developed countries and what about the underdeveloped countries They merely have enough food for every meal. They have to work every hour and every minute to earn a living. The case is same for most of the African and Asian countries. These countries and literally funds need to be allocated by the government to develop Restaurant business and hence plans can be formulated for Restaurant business. Restaurant business is showing high-end results, impact on the part of economical evolutions on nations mainly on cities and individual person's life standard. Because of the Restaurant business the technologies have exchanged. Restaurant business is having tremendous impact on cities. Cities are transforming into great industrial belts. As the industries grow there will be visible impact on the economy. Job opportunities grow and innumerable colonies are developed. The growth is multifold and the technology exchange migration takes place. Restaurants have a maximum impact on the other business as well. Influence of eating trends generally also depends on the kind of restaurant and how it is done up and the place where the restaurant is located. People of different nations migrate to cities. Different nations of people live in one city, like in United Kingdome representing unity in diversity with so many cultures and traditional values. Different languages are spoken. Municipalities also register an inevitable growth and they have to provide transportable roads lighting the roads, similarly and should be committed to provide amenities of international standard to being Restaurant business. The technology is no more permitted, limited to a particular part of the world. It is exchanged in order to serve the public with the latest technology. The globe is no bigger. Restaurant business represents a single economy. Single technology, efficiency and quality of the products should be of high standard. Because of Restaurant business there is conspicuous change with the social life industries. One shall meat and come across different rest of different nationals represent at one place. Different sets of different nationals represent diversified cultures; different languages are spoken at one and the same place, and at one and the same time. They come to know each other from a closer proximity. The intimacies develop; relationships pave way for greater understanding. The social pavilion of life is set to rolling. Broader outlook develop into more knowledgeable and understanding environment. There will be a great impact on the urban sociology patterns of life. The world becomes a small place respectively inevitable economical growth, a pleasant knowledge based environment. The world is no bigger, thoughts of seeing the world; the globe on a huge unknown has become so small so much can be felt immensely. Third world, joyous frivolous, sensible, knowledgeable, cultured by urban socialites will cherish. The development may fold big colonies. A lot of departmental stores will enter into the market to cater to the needs of the conglomeration. The branded cloth stores, all varieties clothes grocers, food needs and other essentialities shall ushering with magnificence providing job opportunities for skilled and unskilled. The development shall develop many folds. The economy of the country, government organizations and private sectors will make a rudimental change. Mainly the cities will develop into a small globe with multi faced development in industries and corporate. May be the government can rest it's feet on the broader aspects of the economy like Restaurant business to take enormous pairs to create and design the super structure of the third world. Restaurant business has its own effects on every aspects of technology. Restaurant business has changed the way urban socialist use to link and express their thoughts. Of course wealth is also acting as a catalyst for the change in the thinking and living of the urban individuals. Considering Restaurant business as a development, every development will have its own pros and cons. It has both positive and negative and results on all aspects of human life. The same citizens who use to think and analyze in a modest manner has changed their way of analysis and started comparing with the good and bad. The socialist thinking, which was confined to the small regions on earth, has now crossed the boundaries and reaching out to the world and sharing views they're by bringing like-minded people to think and work with unity. This development is mostly used in a positive way. For example Restaurant business, which is an ideal example for the development of the people of the country and tourists which also brings lot of revenue to the country can make remarkable growth. The service side concentrates mainly on providing services to the customer. Customer care section plays an important role on deciding how good a restaurant should be taken seriously at all times. To become a multinational restaurant business the management has to expand its units across the country. As restaurant business and its other units are slowly expanding so does the problems are increasing day by day. A qualitative and quantitative research is must in developing an Information system. Qualitative research is more of collecting data, conducting interviews, using documents and to understand and explain social phenomenon. Quantitative research involves is of development of natural sciences to study natural phenomenon. Survey methods, formal methods, econometrics, etc., are some of the examples of quantitative research. It's the research and analysis done by the scientists and programmers in software engineering yielded fruitful results in the development of different programming languages, which became more and more user friendly. The main purpose of these programming languages was to develop applications that could be used in everyday life. The research involves finding potential problems in the present applications used and resolving them by updating them or using new applications. The researchers found the flexibility of a language enables it to be used by more clients. Another important factor probably the most important one is the cost. If the final product is expensive there will be only few takers for it. Therefore research has been done to use cost effective applications. Another important feature developed by the researchers was reverse engineering. In reverse engineering the work is done from final stage to the initial stage. The main purpose of reverse engineering is to extract the code from the final product, working on the final product to the scratch. By using reverse engineering technique one can extract their competitors application and introduce own application in the market accordingly. Qualitative research methods are more often used as it involves observation of data that helps in finding solutions to the problems. Qualitative research has been categorised into three categories named as positivist, interpretive and critical. Positivist research methods involves attempt to test theory that to understand the predictive element of the phenomena. It involves formal propositions, hypothesis testing, measuring of quantifiable variables, etc. In this type of research it is assumed that the objectives are given in reality and can be measured by their properties. Interpretive research method involves sharing of information and social constructions such as language. Interpretive method is used to understand the meaning of the given information that was assigned to the researchers. Critical research as the name implies concentrates more on the critical view of the subject. It highlights the critical viewpoint of the situation that has to be analysed. Action research and Case study research methods are as important as above-mentioned methods. The action research method describes what problems an organization is facing; what appropriate steps should be taken to resolve these kinds of situations. It is more often action-oriented method. Case study method involves studying the main object of the organization, how the situation is related to the real life context, etc. Case study can be positivist, interpretive and critical. Planning In any marketing sector marketing plan is considered to be very important and a thoughtful business plan cannot be overemphasizes because much hinges on it: financial support, management of the available resources like operation and finances, credit from suppliers, promotion and marketing and last but not the least restaurant business's goals and achievements. Implementation Plan: The main plan for the system developed is to upgrading and existing system to proposed system. There are mainly 4 methods of upgrading the existing system to the proposed Parallel Run System Direct Cut-Over Method Pilot System Phase-in Method Parallel Run System: It is most secure method of converting from an existing to anew system. In this approach, both the systems are run in parallel for a specific period of time. During the period of if any serious problems were identified while using the new system, the new system is dropped and the older system is taken at the start point again. Direct Cut-Over Method: In this approach, the existing system is converted to the new system abruptly, some times over a weekend or even overnight. The old system is used until a planed conversion day. There exist no parallel activities. Pilot Method: In this approach, a working version of the system is implemented in one art of the organization such as a single work area or department. When the system is deemed complete it is installed through out the organization either all at once (direct cut-over) or gradually (phase-in). Phase-in Method: In this method, a part of the system is first implemented and over time, other remaining parts are implemented. The marketing plan is considered to be a necessity and if a person fails in it then he or she is in trouble. Many entrepreneurs argue the importance of marketing plan; according to them the market place has the tendency of changing very fast and therefore implementation of the marketing plan merely remains in spirit and not in action. Another lame excuse is that the entrepreneurs haven't got that much of time to prepare a marketing plan. As builders won't start the construction of any structure without any blueprint entrepreneurs shouldn't rush into new ventures without a proper business plan. Before writing a marketing plan some of the important questions that has to be addressed are: 1. What service does the business provide to the clients 2. Who are the potential customer and reasons for purchasing the service or product 3. What are the steps or ways you reach the potential customer 4. From whom or where the funds come Financing One of the frequent reasons of business failure is poor management and insufficient and poor management of financing comes second. For starting or relocating or expanding a business sufficient capital is required. Having good financing is not enough in attaining profits; proper knowledge and planning are required to manage it well. These help in strengthening the management of financing and avoid common mistakes like miscalculating or underestimating the cost. The following points had to be addressed before inquiring about financing: 1. How much capital is needed 2. Why it is required Is it for expansion or for tackling risks 3. Are the risks involved greater than anticipated 4. At what stage of development is the business 5. How is the capital used 6. How is the business going Whether it is stable or depressed 7. Does the management team can withstand the challenges 8. How does the financing helps the business plan Hence the impact of the restaurants on the torism industry is enormus since restaurants make the tourists comfortable tp stay as along as they would like. Without restaurants the tourists would suffer a lot for accomadation, eating and daily sight seeing. Any tourists would never ever venture for a trip or a vacation at a place where there is no restaurants. It becomes all the more difficult to enjoy the vacation. Patricularly for the countries like London the restaurants are well placed all over the city and even in the country side of UK. The restaurants in London are some of the most famous restaurants in the world. They cater to the tasts of allmost every citizen of every country. References Sharon McClements, Adrain blumenthal and George Heaney (2002) . Measuring Construction Performance {online}. Available from http://www.engj.ulst.ac.uk/RCCNI/reports/kpi_report2.pdf { Accessed 7 may 2007}.. Bethany K. Laurence.( 2006) Will My Business Make Money, Available from . accessed 29 april 2007 SBA. (2006.)Writing the Plan. Available from < http://www.sba.gov/starting_business/planning/writingplan.html>. Accessed 7 may 2007 SBA. (2006.)Marketing Basics. Available from < http://www.sba.gov/starting_business/marketing/basics.html>. (Accessed 7 may 2007) Read More