GulfGate Restaurant as Dream Family Business - Essay Example

GulfGate Restaurant: My Dream Project Introduction This presentation is submitted with acute care to intonate my strong will to establish the business and work for the growth of it by animating my ambitions. Although I am motivated with the strength I claim from my family, I don’t ignore the possibilities of emotional and ethical barriers that might stand on my identical way. Hopefully, the education looks working out well when I start working for my business and the leadership qualities within me are seemingly motivational for the promotion of strategic ideas. My dream business and its significance Having studied the four year business course, I plan to become an entrepreneur with the best possible amount I can invest in a Middle Eastern style restaurant with the help of my family members. I am imbued with the ‘push factor’ (Preston, Fryer & Watson, 2006) that is the involvement of my own people will encourage me during my hardships and with their joint effort; I will prove my potential business skills. Having clearly studied all the possibilities and constraints of the business, I am rather determined to set up the restaurant named “GulfGate” after due consultation with experienced people from my relatives and well-wishers. A positive side of the restaurant is the balanced nature of ‘pay for quality’; the equation to be practiced during the operation for best result of business. The choice of this stream was supported with the expectation of increased number of customers from countries like India, China, Singapore and Malaysia. Since the location of the business is expected to be in the suburbs of Dubai, it is easy to gather a huge number of customers very easily. Quality food is the major concern I emphasize for the regular update of the restaurant for which I have plans to post people at different parts of the city for distinguished purchase. A greater part of my burden to find a cook is eased with the inclusion of my cousin, who is an experienced graduate in food design and hotel management. SWOT Analysis Strength: 1. Intimate relationships 2. Shared responsibility 3. Improved mutual trust 4. Handy labor standby Weakness: 1) Disparity of opinions 2) Excessive dependence 3) Complex discussions 4) Less effective growth Opportunities: 1) Ample moral support 2) Easy promotion of business 3) Motivation from social groups 4) Guidance and support from elders Threats: 1) Emotional risks in communication 2) Flexibility of leadership 3) Ethical concerns of elders 4) Prospects of negative inspiration 5) Compulsions of religious constraints Since this is a family unit, less implication of mistrust can be witnessed. Depending on the religious aspects, our family stands better in the society; therefore, we can claim easy access with people and their support. This is a business intended to service and trade, therefore, expert opinions from elders would also support us in the long run. As Preston, Fryer & Watson (2006) state, Small business has other advantages like the better knowledge about the local business environment and can sub-contract the projects of big businesses. Potential and challenges However, I don’t deny the possibilities of disparities of opinions among the members on the same theme at regular intervals. A basic disadvantage of the family business is requirement of excessive dependence on family heads for taking vital decisions. Freedom of expression is often denied in family business because of the likeliness of misconceptions of people due to their inadequate knowledge in management theories (Eds. Poutziouris, Smyrnios and Klein 2006). Since the organization consists of people of different age groups, priority of expression of ideas goes always to elders, whose views might not be accurate all the time. Moreover, ethical concerns of elders about business may tend to be influential to religious faith. In such contexts, it is rather difficult to convince them for a compromise with intent to promote the business opportunities (ibid). I would like to focus on motivational enterprises with maximum care for each employee’s self actualization needs. According to Douglas McGregor (1960), some are professionally attached to the business, while others are personally involved; and the complexity of managing their esteem needs becomes a serious task for the manger (Cited in Preston, Fryer & Watson, 2006, p.10). The work unit comprises of people of different potential ranges such as averages, efficient and inefficient. Understanding the probability of negative inspiration from some members owing to emotional outbreak, I have devised a balanced mechanism of allotment of labor and perfect work mechanism for them. When this issue is settled, there are no other problems to challenge my business. My choice of opening the restaurant is the result of a series of observation on the family business we operate on automobile maintenance center at our locality. The span of organization is small and handy, keeping my uncle at the head. He manages the garage with 32 workers at hand. I have noticed that he actively spends around 18 hours a day into is business. That shows the importance of hard work. The delivery system is very punctual that he claims the best repute for getting his work out of the garage in no later than customers are promised. Another one unit is my father’s readymade manufacturing unit. He is assisted by one of my cousins who advices him in fashion and models. Marketing team of the unit is adorably perfect in keeping the supply chain alive and profitable with little visible demerits. Conflicts among the laborers are settled among themselves, therefore, the two units have never faced the problem of strike or lockout due to lack of workers. Conclusion This is rather an investment of my four years dreams than normally setting up some business to survive. I dream about giving the unexplored taste of normal food to the people with added enthusiasm to find them relish their food. This is ethically and morally correct when the best service is rendered for a reasonable price. Apart from being an eat-n-go station, the name of my restaurant should grow as a catchword in the mouth of hungry customers. My people have the same inspiration to open the business for they consider the great possibilities of succeeding it by beating every challenge around. References Preston, D, Fryer, M & Watson, G 2006, What is a Business? The Open University, Walton Hall. Poutziouris, P, Smyrnios, K & Klein, S 2006, Handbook of research on family business, Edward Elgar Publishing, UK. Read More