Understanding Business
13th Edition
ISBN: 9781264249527
Author: Nickels, William G.
Publisher: MCGRAW-HILL HIGHER EDUCATION
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 1VC
Summary Introduction
Case summary: More than one half million businesses are launched in U.S. Every one out of ten aspiring businesses is franchise based. T and J opened a pizza store in
It is very risky, difficult and time consuming to start a business from scratch. D has built the reputation and brand name in market with over 50 years of experience. That is why many aspiring business men want to open D franchise rather than a new restaurant.
D provides market and management assistance and training. D believe that for the success of the company, success of franchises is very important. Valuable promotions by the company itself let the franchise focus on their work rather than on promotional activities. D assists the franchise to get proper location for their business.
United States remains the largest market for the company with over 5,000 stores. Menu might be different in some stores and the toppings are also unique in some stores of D. Every aspect of the D like uniform, store layout or training program remains same.
With the advancement of technology D also has provided various innovative platforms to order. The franchise business has been considered to be the most developed business model ever.
Characters in the case: Mr. J and Mr. T.
Adequate information: Mr. J and Mr. T started a pizza store with name DN in1960 but Mr. J sold his share to Mr. T and Mr. T continued the business as sole proprietor with the name D. Mr. T then started to franchise D and now D has over 18,000 franchises across the world.
To determine: The reasons behind the lower business failure rate than business started from scratch.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Patel sat down with the head of public relations, the CEO, and a few Board
members to weigh options. On the one hand, they knew there had already been
problems along their pipeline causing health concerns a few months before.
Apparently, there were substandard materials used in some of the pipeline
sections that eroded which they had addressed quickly as soon as they knew there
was an issue. This information was public and is one of the reasons why the media
was jumping on the story.
On the other hand, their pipeline was not the only one in the area. At least two
other pipelines moved materials that were dangerous if released in the
environment. Was the problem HFC's or another company's or maybe both or
ALL? At the present moment until hazard investigation crews could investigate on-
site at all the pipelines, there were more questions than answers.
Patel had the accident investigation team dispatched to the area. He was debating
whether he should call the other companies to jointly…
Please original work
what is the most important learning and new understanding gained regarding balanced scorecards.
what you might do differently in your current company (Consulting Management Firm)
How you would use a balanced scorecard if you were the CEO of an organization.
Include the likelihood that you would use a balanced scorecard based on what you’ve learned.
Please cite in text references and add weblinks
What is the definition of the anthropomorphisms, could you please give the examples?
Please help explain the hypothetical case study or a proposal for the circuit City?
What is the X LSS tools to collect Y data to understand Z processes, could you please give the example?
What is the attribution of human traits, emotions, or intentions to non-human entities on the collapsed of Circuit City and out of business?
Chapter 5 Solutions
Understanding Business
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5TP
Ch. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CECh. 5 - Prob. 2CECh. 5 - Prob. 3CECh. 5 - Prob. 4CECh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DCSCh. 5 - Prob. 2DCSCh. 5 - Prob. 3DCSCh. 5 - Prob. 4DCSCh. 5 - Prob. 5DCSCh. 5 - Prob. 1PPTCh. 5 - Prob. 2PPTCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
Knowledge Booster
Similar questions
- Background information: A manager needs to know what kind of information they need, where to get it from and how to apply it to the specific task at hand in order to successfully manage the strategic planning and use of technology efforts in their organization. In your role as Director of Innovation and Business Opportunities you are charged with developing the specifications for a knowledge-management system that will help direct your organization’s future acquisitions of technology. What do you need to know to accomplish your work? Where did you get the knowledge on how to do these things? What information or data do you need to accomplish your work? Where do you look for this data? How easy is it to find the information or data you need? What would make it easier? What information do you feel would make your work easier if you had it? Please cite in text references and weblinksarrow_forwardPlease help explain the hypothetical case study or a proposal for the circuit City? Could you please help explain protocol, methodology, data collection in the case of Circuit city? How DMAIC can be used in the case study related to the fallen of Circuit City What is the relationship between DMAIC in the Biblical integration, How do they apply it?arrow_forwardConduct a SWOT analysis for United Parcel Service (UPS) for a Leadership Recommendation Project (LPR) including a brief narrative explaining the rationale each category of (S.W.O.T.) and their conclusions from the analysis?arrow_forward
- Please original work Talk about what “influencing” means in regard to the balanced scorecard development process. Provide a brief example of how you would “influence” all employees in the balanced scorecard development process. What are the benefits of a cascading balanced scorecard? What are the potential critical flaws in business meetings and how can a leader steer meeting so that they maximize their effectiveness by using a balanced scorecard? What are at least 3 critical questions to ask in a balanced scorecard employee survey? How would you use a balanced scorecard employee survey to update the core elements of the scorecard? Describe 3 balanced scorecard issues that might prevent an organization from successfully implementing a balanced scorecard. How might an organization overcome such issues? Please cite in text references and add weblinksarrow_forwardAt the end of 2014, a large university hospital in the Netherlands launched a procurement tender exercise for surgical suture material. The rationale for hospital management to initiate this procedure was cost-cutting and standardization. The award criteria were focussed on the most economically advantageous tender. There were different suppliers on the market that were able to produce and deliver high-quality surgical suture material for a lower price than was currently being paid. Consequently, the tender was awarded to a new supplier.The top managers and purchasing manager who initiated the tender trod carefully and implemented this relatively small-scale change initiative according to some basic change management principles (e.g. Kotter, 2012): they built a guiding coalition that incorporated renowned medical specialists, they consulted department heads and they communicated the change to surgeons through different channels. Furthermore, it was recorded in the tender that the new…arrow_forwardLance Best, the CEO of Barker Sports Apparel, was meeting with Nina Kelk, the company’sgeneral counsel, who also oversaw human resources. It had been a long day at the company’sBirmingham, England, headquarters, and in the early evening the two were going over theevaluations of each of Lance’s direct reports. Lance was struck by what he saw in CFO DamonEwen’s file. Most of the input was neutral, which was to be expected. Though brilliant and wellrespected, Damon wasn’t the warmest of colleagues. But one person had given him the lowestratings possible, and from the written remarks, Lance could tell that it was Ahmed Lund, Barker’shead of sales. One read: “I’ve never worked with a bigger control freak in my life.”“These comments are pretty vicious,” Lance said.“You’re surprised?” Nina asked.“I guess not,” Lance acknowledged.His CFO and his sales chief had been at loggerheads for a while. Ahmed’s 360 also contained afew pointed complaints about his working style1—no doubt from Damon.Lance…arrow_forward
- At the end of 2014, a large university hospital in the Netherlands launched a procurement tender exercise for surgical suture material. The rationale for hospital management to initiate this procedure was cost-cutting and standardization. The award criteria were focussed on the most economically advantageous tender. There were different suppliers on the market that were able to produce and deliver high-quality surgical suture material for a lower price than was currently being paid. Consequently, the tender was awarded to a new supplier.The top managers and purchasing manager who initiated the tender trod carefully and implemented this relatively small-scale change initiative according to some basic change management principles (e.g. Kotter, 2012): they built a guiding coalition that incorporated renowned medical specialists, they consulted department heads and they communicated the change to surgeons through different channels. Furthermore, it was recorded in the tender that the new…arrow_forwardHint(s) Check My Work Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150-foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following table shows the price per roll depending on order size: Quantity Ordered From 1 41 80 81 161 160 and up To 40 Price per Roll $215 $195 $175 $155 Click on the datafile logo to reference the data. DATA file (a) Use the VLOOKUP function with the preceding pricing table to determine the total revenue from these orders. $arrow_forwardPlease original work Discuss how technology and innovation focused firms gain competitive advantage. What resources are needed for corporate venturing? Who establishes industry standards and why are they important? Describe the characteristics of a knowledge management system. What characteristics of communication processes exist in an organization where learning is taking place? Please cite in text references and add weblinksarrow_forward
- Our firm has been the auditor of Caribild Products, a listed company, for a number of years. The engagement partner has asked you to describe the matters you would consider when planning the audit for the year ended 31 January 2022. During your recent visit to the company, you obtained the following information: (a) The management accounts for the 10 months to 30 November 2021 show a revenue of $260 million and profit before tax of $8 million. Assume sales and profits accrue evenly throughout the year. In the year ended 31 January 2021, Caribild Products had sales of $220 million and profit before tax of $16 million. (b) The company installed a new computerised inventory control system, which has operated from 1 June 2021. As the inventory control system records inventory movements and current inventory quantities, the company is proposing: (i) To use the inventory quantities on the computer to value the inventory at the year-end (ii) Not to carry out an inventory count at the year-end…arrow_forwardHow Lean management in manufacturing is applied through focusing on waste discount, continuous improvement, and performance to Circuit City? Six Sigma is a statistics-driven business strategy focused on reducing defects, enhancing best, and optimizing procedures, how does it apply to Circuit City? Are benefits of Lean Six-Sigma methodology can apply to Circuit city? How to Makes Consulting Recommendations Effective and Sustainable for this company?arrow_forwardWhat do we know right now about the Himachal Fertilizer Corporation and the situation? What are the potential scenarios at play at this point in time (e.g., what could have caused the current issue)?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning