Success | Accounting homework help

Case 1 – Quality for Success (10 marks)

Ming Lee recently got access to a F$100,000 trust fund set up by his late father. He has always dreamt of operating a restaurant like his father did at one time. He decides to open a new Chinese wine and dine restaurant in Nadi Town. He has conducted research around this business idea and found that there are 5 other similar restaurants already operating in town. All have good locations where there are a lot of people passing through. All have almost the same types of items on their menu and the prices are also very similar. This is because of the tight competition among the 5 existing restaurants. Ming decides that he will enter the market and compete on the basis of quality. 

1. Outline and discuss how he should go about competing for success on the basis of quality in this highly-competitive market.

NB. Focus on both product and process in answering this question. Make sure your proposals are linked to the problem Ming is faced with.(10 marks)

Case 3 – A New Business (20 marks)

Roy Micky wants to open a new Nakamal (Kava Bar) in Port Vila. He knows he is entering a highly competitive market, but is determined to give it a go as it is something his family have always wanted. 

There are 96 other Nakamals in Port Vila that Roy will have to compete with. In addition to this, he does not have an established presence in the market. These are just 2 of his concerns. The other 5 are required to come from you.

1. List and justify (from an operations perspective) 5 key things that he should consider in setting up his business. In answering this question, think of the different chapters that have comprised this course – you should get a point from each chapter. (20 marks)

NB. This question is asking for 5 points of concern – each carries 4 marks.