Paraphrase one page (250 words) needed to be done in 4 hours
Executive summary
Maximizing profits is what any business owner strives to do. We will open a restaurant
serving beer in Portland, OR. There is an established demand and craft beer culture in the area,
making it a good location for this business. The ways we will ensure the success of our
business is through focusing on different areas. We used decision-making tools in Marketing
Management, Innovation Management, Operations Management, Financial Management, and
Organizational Management aspects of the business to decide what is best for the success of
our business. We decided to promote our business through word-of-mouth, social media
outlets, beer festivals, and offering seasonal varieties. Innovation is important, and the way we
decided to be innovative was through our water quality and reducing costs with choosing the
right coasters. We will have six types of beer for sale, two types of beer available for
wholesale distribution, and one special offer. Fixed costs for salaries total to be $101,500,
utilities will be $27,500, marketing costs will be $51,000, rent will be $5,000, loans will be
$20,000, and taxes will take 26% of what we earn. Since fixed costs for salaries are the highest
cost for the business, staff will be kept to a minimum. The best situation for our business
concerning staff will be having one part-time Assistant Restaurant Manager, one Salesperson
who will handle business-to-customer and business-to-business sales, a part-time Office
Assistant, one Consultant, and 4 total production personnel. One of the production personnel
will be part-time. These organizational decisions will allow for different shift times and
maximize the quality of our product. Different qualitative and quantitative decision-making
tools were used to justify our decisions. Some decision-making tools include PESTEL
analysis, Sensitivity analysis, SWOT analysis, Break-Even analysis, Monte-Carlo Simulation,