Report On Bulgaria Brista Restaurant : Business Relationship
Added on 2020-01-28
15 Pages5331 Words42 Views
MANAGINGCOMMUNICATION1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1and 1.2 Different decisions to be made and information and knowledge needed to makedecisions.......................................................................................................................................31.3 Internal and external sources of information and understanding...........................................41.4 Recommendations for improvement in methods used in selection and analysis ofinformation for business start-ups................................................................................................52.1 Stakeholders which can influence the process of decision making.......................................62.2Methods to contact stakeholders and develop business relation with them...........................72.3Plan to improve identifying the stakeholder in the process of decision making ...................72.4Strategies for improvement in future......................................................................................8TASK 2............................................................................................................................................83.1 Reporting existing processes of communication in the given case study..............................83.2 Designing ways to improve the appropriateness...................................................................93.3 Comparing different communication processes and explain how the voluntary organizationcan improve appropriate communication along with integration of communication system....103.4 Personal plan to improve own communication skills.........................................................104.1 Reporting on existing approaches to the collection, formatting and storage as well asdissemination of information and knowledge............................................................................114.2 Carrying out appropriate changes to improve collection, formatting and storage as well asdissemination of information and knowledge............................................................................124.3 Implementing strategy to improve access to system of information and knowledge .........12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142
INTRODUCTIONManaging communication is the most important process which shows that howmanagement can interact with all its employees. This is helpful for management to motivateemployees and retain them for longer time span. Present report is based on Bulgaria Bristarestaurant which provides varied kind of products and services to end users. Furthermore,another voluntary organization facing issue related to communication has also been selected.Furthermore, different methods used to develop better business relationship are explained alongwith its potential impact on business performance. Similarly, existing processes ofcommunication are explained along with effective aspect to collect, store and disseminate dataamong end users. In addition to this, strategies applied for access to system of information andknowledge is analyzed effectively.TASK 11.1 Different decisions to be made To start a business is not an easy job. It needs to make several major decisions. To openrestaurant Bulgaria Bistro, following decisions are needed to be taken:Savings: The restaurant may not generate profits at initial stages or the owner may not becapable to pay even salary to himself. An important step is to see if savings can carrybusiness till it turns into profit (Saft and et. al., 2011).Financing: If the owner does not uses his own money for starting business, then it needssources of finance. It is to be decided whether funds should be raised from bank or anyother financial institution.Site: The location of the cited restaurant has to be determined. It should be sited in such aplace where many customers are attracted. If it is out of the way or people finddifficulties to find it,then it limits the possibilities of success. Propinquity to rivals is alsorequired to be taken into account. Along with this, the location should offer chances ofexpansion of business.1.2 Information and knowledge needed to make decisionsInformation and knowledge needed to start a business: 3
The owner of Bulgaria Bistro has to gather a lot of information and knowledge beforestarting restaurant. It is to be considered that is the business prepared to take risk. It will haverisk towards savings. Then information and knowledge has to be gathered regarding market. Theextent of the market for its food products or services has to be seen. Then the customers andcompetitors has to be identified. Along with this information in context of machinery andequipment has to be taken into account (Steele, Research In Motion Limited, 2010). Also, costsinvolved in buying capital equipment should be taken into consideration. With the above factorsthe selling prices has to be calculated. Use of knowledge has to be regarding inventing new waysof selling food products and services in the restaurant. With these, information and knowledge oflaws and legislation has to be gained.1.3 Internal and external sources of information and understandingThere are several internal and external sources of information and knowledge which iscrucial for every start up business. It is because of their dependency regarding the needs oftaking some specific decisions to start cited restaurant. It can approach its stakeholders to gaininformation and knowledge. But this requires some positive methods and ways to be criticallyexecuted in the business with some reliable collected data by the taken stakeholders. The internalstakeholders such as employees, suppliers, customers, managers, sales data, data of HR section,internal management database and clients can be a good sources for taking internal information(Moore and et. al., 2013). These intrinsic sources can collectively support the mentionedrestaurant to ascertain some present records of trading and profit and loss account. This willdepict the exact status of their implemented activities of business. It will aid the start up toacknowledge any needed changes to be made in the existing plans and procedures by consideringthe financial status of business for overcoming any type of removable failures in losses. Theseare the sources which are present inside the organisation. The external stakeholders can beeffective source for gaining external information and knowledge. They could be government andits bodies, print media such as newspapers and business magazines. It will crucially support therestaurant to face some outer challenges by collaboratively seeing the dependability of itspropinquity close positioning. When the start up has to take any type of decision, then it isrequire to take use of information and knowledge derived from both these sources for efficientlytaking the decisions (Viswanath and et. al., 2013). 4
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