...Cornell Hotel and Restaurant Administration Quarterly http://cqx.sagepub.com Why Restaurants Fail H. G. Parsa, John T. Self, David Njite and Tiffany King Cornell Hotel and Restaurant Administration Quarterly 2005; 46; 304 DOI: 10.1177/0010880405275598 The online version of this article can be found at: http://cqx.sagepub.com/cgi/content/abstract/46/3/304 Published by: http://www.sagepublications.com On behalf of: The Center for Hospitality Research of Cornell University Additional services and information for Cornell Hotel and Restaurant Administration Quarterly can be found at: Email Alerts: http://cqx.sagepub.com/cgi/alerts Subscriptions: http://cqx.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Downloaded from http://cqx.sagepub.com at Blue Mountains Hotel School on October 25, 2009 © 2005 CORNELL UNIVERSITY DOI: 10.1177/0010880405275598 Volume 46, Number 3 304-322 10.1177/0010880405275598 Why Restaurants Fail by H. G. PARSA, JOHN T. SELF DAVID NJITE, and TIFFANY KING , Past research on restaurant failures has focused mostly on quantitative factors and bankruptcy rates. This study explored restaurant ownership turnover rates using qualitative data, longitudinal data (19961999), and data from Dun and Bradstreet reports. In contrast to frequently repeated statistics, a relatively modest 26.16 percent of independent restaurants failed during the first year of...
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...higher prediction success rate when multiple predictors are used, both psychologists and managers as assessors, she should begin by making sure that the company SSI is using follows those guidelines. While Mrs. Pamplemousse has always promoted internally through the use of SSI, she is not able to compare her own choices with that of the assessment centers. She can check the success of SSI’s predictions, by reviewing their assessment results. She can take these results and chart the ratings highest to lowest, leaving off the employee that had been given the promotion. Mrs. Pamplemousse should then begin comparing the employee’s job performance against their ratings. If SSI’s predictions are accurate, those employees with the higher ratings should out perform those with lower ratings. If she were to consistently find that the lower rated employee had out preformed the higher rated employee, she would need to reevaluate using SSI assessment process. Beyond this she could use meta-analysis, a form of validity generalization that is gaining acceptance. This will allow her to gather data from individual studies that examine the results of assessment center successes. The purpose is to obtain statistical confirmation of results and conclusions. It is assumed that by using this instead of paying for a complete evaluation of SSI and each of their tests would save the company money. Vin Pomme does bring up a good point. Although assessment centers have higher success rate in predicting...
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...MORE DO YOU WANT? Some jobs are not always what they seem to be. In the case study “Bright and Dedicated” we get to look at some of the hurdles a newly hired controller (Susan Reynolds) must face . We will then look at ways to improve an unstructured organization like Marco Pictures Inc. and remove the obstacles that Susan has encountered. Case Objectives and Use The case demonstrates the need for companies to identify specific knowledge, skills, and ability requirements for positions and the need to use proper selection and placement procedures to determine potential success of candidates and to address consequences that may occur when performance expectations are not fully and clearly communicated in the hiring and training process. It further illustrates the importance for individuals to clearly assess their strengths and weaknesses, to evaluate how those play into their potential success, and to assume responsibility their own careers. The case addresses motivation, leadership, communication, selection, training, and performance evaluation. It was written for use in undergraduate and graduate level courses in organizational behavior, human resource management, and accounting. Case Synopsis Susan Smith, a successful auditor with a big-six public accounting firm was hired into the position of controller in the accounting department of Marco Pictures, a medium-sized, highly successful motion picture company. Having just received her first yearly Employee...
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...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...
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...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...
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...Strategies BUS 508 Contemporary Business Professor Lewis Janisa Carter February 1, 2012 Introduction In today’s highly competitive and challenging business environment many variables are to be considered when it comes to the success or failure of a business. Business firms must consider the worlds fast changing societal needs and appropriately employ the diverse strategies needed to flourish. This paper will compare and contrast two businesses, one successful and the other unsuccessful. By doing so, I will take a closer look at diversification strategies and evaluate the reasons that determine a business’s outcome. I will also discuss the importance of business plans, marketing plans, and strategic plans as they are key elements to the success of a business. And finally, I will offer the failed business new diverse strategies that would help with future success. Compare and Contrast Two Businesses and their outcomes Amazon.com Amazon.com was founded by Jeff Bezos in 1994, and launched in 1995. Amazon.com is an American multinational electronic commerce company. It was one of the first American Ecommerce companies to sell over the internet. Ecommerce has multiple advantages over “brick and mortar” and order catalogues. With Ecommerce customers can conveniently search...
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...3 pitfalls Commitment: Commitment to planning engenders commitment to strategies and to the process of strategy making. Nature of planning fosters managerial commitment to itself Whether planning is committed to management. Change: Process of planning tends to evoke resistance to serious change in organizations Planning tends to favor short term over long term Politics: Planning is a biased form of objectivity and enforces political resistance. Aggravates the conflict between line and staff 3 fallacies Predetermination: To make strategic planning successful, an organization has to control or predict the course of the environment. Detachment managers are detached from the very things they are supposed to make strategies about Formalization Grand falacy: Soft analysis: Informal visionary and learning processes of line managers. Strategic planning is not the same as strategy making should have been called strategic programming Promoted as a process to formalize, when necessary, the consequences of strategies already developed instead of making new strategies Learning myopia: Why experience is a poor teacher. Experience is often a poor teacher, because it involves inferences from information and there are cognitive limits. Additionally, the experience is not as complex as the actual account. Experiences from others and politics influence your experience as well. Finally learning in the neighborhood of current experiences in the short-run restricts learning...
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...Strategies fail so that other strategies can become successful. One prominent reason in a societal belief of strategic failure is the lack of initial creation of any strategy; however, most companies do not create a formal plan before starting their endeavor. Whether they created a plan or not, the lack of creation of a strategic plan is not indicative of failure. The things in which places an obstacle in the effective and efficient implementation of a strategy is a companies’ external threats, inability to response to the threats, uncertainty about the market segmentation in which they are striving to appease, and lack of any congruency within the managerial team. Companies notice signs of failure such as, imitation, substitution, holdup and slack, but many time ignore them because of there overtly confident in the companies success; on the contrary, they may notice that the cost to maintaining the business in the current manner is a lot more cost efficient than changing the strategy to sustain competitive advantage, which is more cost effective. Because the companies didn’t derive a strategy for failure, the response is inevitably more difficult to construct. If a response were to be constructed it wouldn’t suffice; the...
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...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...
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...called, success. Success means achievement, accomplishment, victory, and triumph. The dictionary states that success is “The achievement of something desired, planned, or attempted; the gaining of fame or prosperity” (The Dictionary.com n.pag.) and “The favorable or prosperous termination of anything attempted; the attainment of a proposed object; prosperous issue” (Hypertext Webster Gateway n.pag.). These are just dictionary definitions, though. One needs examples and instances in order to fully understand the meaning of success. Our Service Can Write a Custom Essay on Success for You! Over the years, many people have viewed success as the gaining of fame and fortune. While this is true, success encompasses all kinds of prosperity. Fame and fortune is just one form. The reason why most people view fame and fortune as the prototype of success is because these two things usually come to people who have worked long and hard. For the most part, in order to be and feel successful, one needs to have worked at it. Bob Brown once declared, “Behind every successful man there's a lot of unsuccessful years” (Cyber Quotations n.pag.). Colin Powell also stated, “There are no secrets to success. It is the result of preparation, hard work, learning from failure” (Cyber Quotations n.pag.). Success is something that usually takes a lot of effort to get, but is worth it in the end. Success is also something that is viewed differently in the eyes of everyone. This is because success means...
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...Queuing Theory Significance There is a very significant reason why Queuing Theory exists. Not only does it apply to a wide variety of topic, many within the business and supply chain industries, it also helps prove cause and effect. In addition to this, it provides a very logical idea of what a solution to a problem it has discovered should be. Measuring and understanding both order rate and service rate can potentially be the difference between business success and business failure. For example, if a company has too slow of a service rate, it is going to lose business because of the long wait times. On the opposite end of the spectrum, if a company focuses too much on improving its service rate instead of understanding its ratio compared to order rate, it will be misusing its very valuable resources. It is also important to have knowledge of all different types of queuing systems. Importance of Queuing Configuration As one can imagine, the importance of a queuing system configuration is very significant as well. As stated above, there are several different types of queuing systems and queuing configurations. If a business uses an improper queuing system or queuing configuration, it can suffer from one of many different negative consequences. Some examples of different types of queuing systems/queuing configurations are First Come First Served, First In First Out, Round Robin, Service in Random order, and many more. Queuing systems and configurations also vary by the number...
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...外企面试最常用的八大英文问题及高分回答 来源:过来人求职网 发布日期:2012-06-29 点击:1264次 [收藏] 外企面试最常用的八大英文问题及高分回答 每年的12月到次年2月都是职场人士跳槽的“多发期”,而大多数白领的新的工作意向是薪水高、福利好的外资企业。很多人从接到面试通知的电话起,心里就开始紧张,不用说想到要用英语面试、老外老板亲切却又让人紧张微笑、看似简单而又机关重重的问题……其实,只要提前准备一下,就可以避免因胡言乱语而失去你梦想工作的可能。 1. Tell me about yourself. 这是一个面试问题中的经典头道开胃菜。铁芸说这个问题主要考察求职者的个性是否符合公司的企业文化,所以回答的时候要尽量贴近这个公司的情况来推销自己的特点。比如这个公司是属于汽车行业,那么你就该回答: “Driving is my hobby. I really love the feeling of running on the road and I take cars as my best friends.” 总之是要找到自己跟这个公司的一个切合点,让面试官了解你充分适合这个环境。 自己优缺点: 2. What are your three greatest strengths? 铁芸说回答这个问题的时候不可以含混不清,不可以只是简单回答 “I’m really organized, punctual and get along well with others.” 简洁、精炼,找到这个公司所看重的特长,是回答这个问题的关键。比如要应聘金融行业,可是说 “I think my three strongest strengths are details-oriental, patient and cautious.” 但是如果应聘者是一个销售精英,可以说:“I think my strongest strengths are aggressive, hard working and communicative.”总之,需要考虑到应聘公司及职务的需要来选择表现自己的优势 3. What are your three greatest weaknesses? 铁芸强调,能够为公司增值永远是老板的最爱,老板都愿意找到一个了解、热爱工作,并能够为公司创造价值的员工。所以不要很诚实的把自己的毛病暴露出来,而是要策略的选择一些能够为自己加分的缺点。比如:“I am a perfectionist and I pay very much attention to details. Sometimes I am quite captious.” 4. Why are you interested in working for our company? 这个问题主要考察应聘者是否对这个工作进行了了解,或者是否真正有兴趣,所以需要围绕整个公司的具体情况,让面试官知道你很清楚这个公司的运营模式,以及对这项工作非常积极。因此不要以“It seemed like a good career move, ”或是 "I haven't been able to find anything else interesting.”为开始。如果能有一些实际问题回答的话,就会更大的加分,铁芸建议应聘者可以这样: “I read an article in the...
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...been influenced by the way they see the circumstances in their life. In other words, successful people see those circumstances with a positive attitude. In this case, successful people see those circumstances as a challenge to beat and not like a punishment to suffer. Therefore, these people will be more likely to fight and have success in their life, rather than the ones who see their life as a punishment. Positive attitude might be the key to all the people who want to fulfill their dreams. Where there is a will, there is a way. If you find any problem, a typical one, don’t lose heart, go ahead and devote yourself fully, analyze each aspect, and get the problem solved. Every invention taken place so far, were riddled with many unfound answers, but the inventor’s zeal and perseverance found the solution and a new invention took place. For a confident person, the word ‘impossible’ is no where in his dictionary. A determined and dedicated person finds way in all complexities undaunted by the initial problems and failures he keeps on finding solution to every teaser and one day he achieves his cherished goal. Confidence is the most important key to success. It boosts the morale and creates determination to attain a goal....
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...around you. Parents teach these values to their children at a very early age. Parents teach commitment by encouraging children to follow through with a promise, dedication by encouraging them to keep trying, regardless of how many times they may fail, and accountability if they choose not to. These are all building blocks to learning personal responsibility. As a mother and a college student, I have the personal responsibility to dedicate myself to my children and my education. I have had to utilize all resources available to me to be successful at both, and it takes honest commitment and dedication to achieve that success. Balancing family and school is a huge personal responsibility and I strive with honesty and integrity to be the best parent, teacher, and student I can be. There is an enormous correlation between personal responsibility and college success. A person cannot obtain one without maintaining the other. As a parent and a student, I have the benefit of continuing to teach my children personal responsibility along with...
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...Even after investing over 10 lakhs in an MBA degree from one of highly advertised business school, Rajesh is still looking for an entry level job which can fetch him atleast 20-25,000 rupees per month so that he can start repayment of the loan his farmer father had taken from village landlord to finance his MBA. Rajesh completed his engineering from a private engineering college with a hope that he will be able to get a regular job which will minimize the uncertainty attached with the earnings from agriculture. He has seen his father losing sleep every year, when the rain gods played mischief. He has felt the anxiety at home till the time the payment for each crop was realised and all the small borrowings taken during the season for the crop were repaid. His father tried to fulfil all his financial needs so that he can be what he wants to be. Rajesh studied hard during his engineering course but he could not get any job during campus placements. After futile job search for over one year, few friends advised Rajesh to get an MBA degree. They said that MBA is a sure shot way to get a highly paid and high ranked job in a large MNC. He was lured by big advertisements of business schools which promised the students an ultra-modern campus and dream jobs. But even after attending over 25-30 job interviews, the best job he was offered was of sales executive with a “CTC” of rupees 2.5 lakh per annum but having fixed salary component of less than 10,000 rupees a month. Most of us reading...
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