Management at Work Larry knows that the restaurant business is the right industry for him. Earlier this year, he opened a small restaurant offering seafood, steaks, and unique side dishes not found at other restaurants. He did not have the savings to quit his existing job as a waiter, so the new restaurant is open only Monday through Thursday nights, which is when he is not working at the other restaurant. Although the restaurant is open only 4 days per week, Larry works up to 16 hours on each of those days. He arrives early in the morning to receive deliveries from vendors and complete paperwork, and he is usually the last person to leave at night after the cleanup is finished. After 6 months, Larry was disappointed that the restaurant had not achieved the anticipated level of profits and success. It didn’t seem right that Larry could work so hard, yet still be struggling to run the business. All revenue was immediately used to pay the small staff or the vendors, so Larry was not taking home any money. Instead, he had to rely on what he earned as a waiter at the other restaurant. He was also learning that running a restaurant involves much more than meets the eye. For example, in his job as a waiter, Larry never had to deal with issues such as inspections by the Health Department or finding an ingredient when a vendor is unable to deliver an item. Last Thursday, the evening special was grilled lobster, but the restaurant did not have enough lobster. What should you tell Larry are possible reasons his restaurant is not achieving the success he desires? Check all that apply. Larry’s experience as a waiter is completely irrelevant to whether his restaurant will succeed. Running a successful business requires a large amount of time; it may not be realistic to both work as a waiter at the original restaurant and operate the new restaurant. Hard work alone does not guarantee success; it is also important to have the necessary business skills. A restaurant cannot be successful if it is open only 4 nights per week; it must be open at least 5–6 days.

Management at Work Larry knows that the restaurant business is the right industry for him. Earlier this year, he opened a small restaurant offering seafood, steaks, and unique side dishes not found at other restaurants. He did not have the savings to quit his existing job as a waiter, so the new restaurant is open only Monday through Thursday nights, which is when he is not working at the other restaurant. Although the restaurant is open only 4 days per week, Larry works up to 16 hours on each of those days. He arrives early in the morning to receive deliveries from vendors and complete paperwork, and he is usually the last person to leave at night after the cleanup is finished. After 6 months, Larry was disappointed that the restaurant had not achieved the anticipated level of profits and success. It didn’t seem right that Larry could work so hard, yet still be struggling to run the business. All revenue was immediately used to pay the small staff or the vendors, so Larry was not taking home any money. Instead, he had to rely on what he earned as a waiter at the other restaurant. He was also learning that running a restaurant involves much more than meets the eye. For example, in his job as a waiter, Larry never had to deal with issues such as inspections by the Health Department or finding an ingredient when a vendor is unable to deliver an item. Last Thursday, the evening special was grilled lobster, but the restaurant did not have enough lobster. What should you tell Larry are possible reasons his restaurant is not achieving the success he desires? Check all that apply. Larry’s experience as a waiter is completely irrelevant to whether his restaurant will succeed. Running a successful business requires a large amount of time; it may not be realistic to both work as a waiter at the original restaurant and operate the new restaurant. Hard work alone does not guarantee success; it is also important to have the necessary business skills. A restaurant cannot be successful if it is open only 4 nights per week; it must be open at least 5–6 days.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Management at Work

Larry knows that the restaurant business is the right industry for him. Earlier this year, he opened a small restaurant offering seafood, steaks, and unique side dishes not found at other restaurants. He did not have the savings to quit his existing job as a waiter, so the new restaurant is open only Monday through Thursday nights, which is when he is not working at the other restaurant. Although the restaurant is open only 4 days per week, Larry works up to 16 hours on each of those days. He arrives early in the morning to receive deliveries from vendors and complete paperwork, and he is usually the last person to leave at night after the cleanup is finished.

After 6 months, Larry was disappointed that the restaurant had not achieved the anticipated level of profits and success. It didn’t seem right that Larry could work so hard, yet still be struggling to run the business. All revenue was immediately used to pay the small staff or the vendors, so Larry was not taking home any money. Instead, he had to rely on what he earned as a waiter at the other restaurant. He was also learning that running a restaurant involves much more than meets the eye. For example, in his job as a waiter, Larry never had to deal with issues such as inspections by the Health Department or finding an ingredient when a vendor is unable to deliver an item. Last Thursday, the evening special was grilled lobster, but the restaurant did not have enough lobster.

What should you tell Larry are possible reasons his restaurant is not achieving the success he desires? Check all that apply.

Larry’s experience as a waiter is completely irrelevant to whether his restaurant will succeed.

Running a successful business requires a large amount of time; it may not be realistic to both work as a waiter at the original restaurant and operate the new restaurant.

Hard work alone does not guarantee success; it is also important to have the necessary business skills.

A restaurant cannot be successful if it is open only 4 nights per week; it must be open at least 5–6 days.

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