Saturday, August 6, 2016
Tim's Coffee Shop
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.
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.
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.
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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