TIM'S COFFEE SHOP
Executive Summary
Tim not having a
business degree is not hurting him in his business as much as he thinks it is.
My mother owns her own business and never took a business class in her life.
She is a computer major and has a bachelor in computer science. Having a degree
helps when running a business but is not necessary. Having the degree in
business can help improve the business but all the research on running a
business can help as well.
One thing time can improve on
is technology. Having everything in computer format can help with calculating
the bills and other inventory things correctly. Adding a cash register that is
ran by a computer will help put in accurate amounts of each product that the
customer purchases. In the files of the surveys customers were complaining about
not having the right amount on the bill. The customers also complained about
the staff. Also coffee is being said to be burnt or cold. Customers have the
right to their own taste buds.
When it comes to employees,
Tim needs to take a look on their day to day schedules. If he notices that the
customers are noticing that customers are not getting proper service Tim should
take the employees back to the office and discuss what they need to improve on
or what needs to change for the business to have the best customer service.
Tim needs to realize the SWOT
of the business. Strengths are that the business is in a very good location.
Weakness would be the coffee being burnt and the staff not paying attention to
customers and doing their bills incorrectly. Opportunities would be to employ
people that will take more care in their work, improve technology, and find out
why the coffee is being burnt. Threats would be new competition moving into the
area. This could hurt Tim by taking away his business. The new restaurants
could offer different flavors of coffee, more options of breakfast foods, and
more seating.
One way to increase the
opportunities is to increase seating. Another way to help with customer
satisfaction is to have a limit that customers are allowed to sit in the
restaurant. Customers are complaining about there always being college students
taking up the seating. Adding more tables or add on another room strictly for
customers that are wanting to stay using the Wi-Fi would be a good way to separate
them from the business customers that want to get in and out during their
breakfast/lunch break.
When it comes to the business
side of things, all the incomes statements and the balance sheet looks great.
There is a low net income for the past year. One way to increase this could be
to raise the prices even just a little to help increase profit. Another way
would to be to make all the pastries in house instead of purchasing them from
another company. This way the company could make a mass quantity and order bulk
in the product to make the pastries. The products to make the pastries could
also be used to make other products to put in the restaurant. When looking to
buy supplies Tim could do research from different companies and compare prices
to make sure that Tim is getting the best pricing for the products. To help
solve the cash income could be solved with that technology at the restaurant.
This would help insure that all of the inventory being sold is being paid for
in full.
Regulations and Management
Summary
Management should be able to go talk
to staff or have the staff come to the manager to be able to talk about
problems. Management needs to be able to point out the problems once they have
read the customer surveys. When looking at the surveys for the day you can look
at what staff was working that day and sit and talk with those staff members to
see what needs to be improved on and what the whole business needs to work on.
Action Items
Tim needs to sit down with his
employees and see what the problem is. Look at what the business should do to
improve itself. HR is in charge of all the behind the scenes in the business.
HR controls the payroll and is in charge of payroll and being in charge of the
regulations. HR manages are to oversee and administer the programs. They are to
ensure businesses adhere to following the complex employment laws.
When looking at hiring more
employees you need to take some things into consideration. Past employment is a
big thing to take into consideration when hiring new employees. Do they have
the work experience to do the job, with past jobs how long do they keep those
jobs, and do they have good reliable references that will back up their good
work ethic? All these questions are and need to be taken into consideration. If
in the past a person has only kept a job for a few months at a time they do not
want to have them hired on. How many times has the person been fired? All
considerations that HR needs to keep in mind.
References
Associates
Capstone in Management. (2012). Retrieved from Tim's Coffee Shoppe simulation:
Longenecker, P. P. (2012,2014). Small Business
Management. Cenage Learning.
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