Business Concepts: Restaurant Style Since I was about nine years-old, I have always wanted to own my own restaurant. I am currently taking the steps needed to achieve my goals. While in college, I have learned so much about business and all the different types. I realize that I cannot just open my restaurant overnight, so learning and observing everything that I can will benefit me in the long run. So far the major business concepts of owning a restaurant are: forms of business ownership, competitive environment, supply and demand, employee supervision and ethical decision making. Observing these five business concepts, one will be able to better understand how to succeed in not only opening a restaurant but any business. When opening any
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Frisch (2015) states the restaurant owner will want to get to know the boundaries of the area in where the restaurant will be, include looking at the radius, geographical barriers, economic barriers and behavioral barriers. Make sure to check out the competition as well. For example, what is the competition serving, what are they doing well, and where do they need improvements. One should make notes about their findings to use for competitive reasons. Frisch (2015) also reveals that one should get to know the location of where the restaurant will be. The potential restaurant owner should observe and ask themselves if the restaurant is visible, are the streets visible enough to get customers inside, is the area going to attract the type of customers it wants. Along with the competitive environment, supply and demand will need to be met …show more content…
Legality simply means the quality or state of being in accordance with the law. However, laws change over time and laws vary from state to state. On the other hand, ethical standards go beyond the range of time, place and sudden change of politics. An example of legality over ethics is in 1955, Rosa Parks broke the law when she denied a white person her bus seat. An example of ethics over legality is when Johnson & Johnson Co. went above and beyond legal measures when Tylenol capsules were compromised. In restaurants, however, ethics depend on employee relations, employee mishandlings, quality on food, and customer experiences. Simply put, just because something is legal does not always mean it is ethical. Ethics are more than just what the law
Frisch (2015) states the restaurant owner will want to get to know the boundaries of the area in where the restaurant will be, include looking at the radius, geographical barriers, economic barriers and behavioral barriers. Make sure to check out the competition as well. For example, what is the competition serving, what are they doing well, and where do they need improvements. One should make notes about their findings to use for competitive reasons. Frisch (2015) also reveals that one should get to know the location of where the restaurant will be. The potential restaurant owner should observe and ask themselves if the restaurant is visible, are the streets visible enough to get customers inside, is the area going to attract the type of customers it wants. Along with the competitive environment, supply and demand will need to be met …show more content…
Legality simply means the quality or state of being in accordance with the law. However, laws change over time and laws vary from state to state. On the other hand, ethical standards go beyond the range of time, place and sudden change of politics. An example of legality over ethics is in 1955, Rosa Parks broke the law when she denied a white person her bus seat. An example of ethics over legality is when Johnson & Johnson Co. went above and beyond legal measures when Tylenol capsules were compromised. In restaurants, however, ethics depend on employee relations, employee mishandlings, quality on food, and customer experiences. Simply put, just because something is legal does not always mean it is ethical. Ethics are more than just what the law