Business Plan Final Essay Example for Free

Business Plan Final Essay Castle’s Family Restaurant Business Plan: Stage III The purpose of this business plan is to understand the restaurants business and its operations to improve its customer service and its employee relations. The Castle Family Restaurant has eight restaurants that operate under one regional manager that also acts as the Human Resource Manager for the restaurants. The goal is to develop a plan that can decrease the travel time of the regional manager so; that he, Jay Morgan, can save on gas due to high gas prices since each restaurant is located in the northern California area. The objective is to introduce a HRIS application and one vendor that can assist in the developing of the HR department and ease the transitioning of one individual HR manager to multiple employees. There are restaurants with profits in mind and provide the same food and service while the Castle’s Family believes in family, partnerships and developing relationships with one another for a great customer service. Introduction The Castle’s Family Restaurant has eight restaurants in northern California with about 300-340 employees. Most of the employees are part time with about 40% of them full-time. This business plan is to determine strategies that will eliminate the Human Resource position from Jay Morgan, so that he can reduce his travel time to all eight locations and to develop an HR department for the restaurants. In addition, the business plan is to enable Jay Morgan to concentrate on his operation manager duties. The factors that cause many issues to the Castle’s Family restaurant business are having one individual with so many responsibilities. Therefore, hiring an HR manager to schedule, recruit, hire and assist the employees in their needs will help in creating order. In addition, the restaurant must hire an assistant to help in the administration work; it will decrease the amount of  paperwork for the general manager. And each restaurant must have a manager to overseas the employees and the operation of the restaurant. The managers will conduct meetings monthly to provide the sales, revenues and customer services of each restaurant. Managers can communicate through emails, phone calls if they have questions for each other, or have any concerns. A needs assessment must be conducted to determine if an HRIS is needed for the company. In order to have a successful restaurant business every factor must be considered. For example, customer service to the customers is a big factor becau se that is what brings in the revenue. For a restaurant to have a successful business they must have the right food for their customers to enjoy and to assist the customers any way they can. In the last year, there had been some speculation into how the government will help the small restaurants and that the fiscal will prevent any type of savings in when tax time comes around. These HRIS and vendor application that will be stated in this business plan is there to develop and help maintain the restaurant’s H R department and increase growth in the company. We have acquired an HRIS system that will help in developing the HR department to provide easy process for the employees. The Sage HRIS application is an innovative way to ease the transition from traditional HR to a strategic HR. The Sage applications provide variety of options to assist in the HR process. For example, the payroll application should be implemented to help the restaurant establish tax, earnings, and deduction codes to perform critical payroll functions and to modify the system to the restaurant’s needs. This is the first time Castle’s Family Restaurant is developing a HR department, having the right tools to run a department the right way will allow less mistakes to be made; with eight different locations, adding the sage application will help in the transitioning all locations into one. Furthermore, it is critical for a company to have leadership to help establish the employee’s strengths and improve their weaknesses. In addition, the sageâ€⠄¢s time and attendance can help manage the employee’s attendance and work time. The system enables you to collect, analyze, and take control of employee’s attendance and labor data. The  application will help the company in providing perks to employees that always come to work on time. In addition, the performance management application tracks employee’s performance; help identify their critical skills to help the employees in their career development. Furthermore, I have compare and contrast a vendor that would benefit your company. These two vendors provide great services but one match your company’s true values and its missions. The Castle’s Family Restaurant need a vendor that can help in developing long lasting relationship and demonstrates positivity so that individuals can be their best. Furthermore, automation is viable to reduce the need of human errors that can results in more major consequences. Automation errors can occur at any time, the solutions are easy to fix, and automation provide easy data that can be change, delete and edit. The type of HRIS that the Castle Family Restaurant should implement is the Sage application as I have stated before. In order for such application to be developed a vendor must be selected to help in the process. The sage application is a best fit for the company because it has a group of team that can help in assisting in any technical difficulties. When developing new HR department, errors will consist and questions will need to be answered. Therefore, a new training program will need to develop to increase each employee’s skills and performances in the Human Resources Department. The Sage application has the career enhancement training; they have created a system that can help in detecting IT skills, leadership’s skills, etc.; that can benefit your restaurant. The application has an easy to read system. The vendors that I have selected are the ADP and the Rideau Recognition Solutions. The ADP provides all services for domestic international, small or large companies, it does not matter where you operate, and they are there to assist in developing the business. The Rideau Recognition Solutions provide services that inspire employees to succeed to the vendor’s belief. Their expertise is to help their clients build positive relationships with their people to reflect the company’s values and increase customers’ expectations. The Rideau main purpose and their definition of a business are being inspirational and providing inspiration to others. While  ADP is well recognized company that can assist in developing an HR department, and have the tools to performed the job, but because of the deep meaning and relationship that can develop with the Rideau Recognition Solutions and the restaurant being a family company; I believe that the Rideau is the best solution for the Castle’s restaurant. I have recommended that your company, The Castle’s Family Restaurant, to choose the Sage HRIS application and the Rideau Recognition Solution as your vendor. They have the right tools that can establish the restaurant business, and their tools can assist in the development of the HR department. In the restaurant business there will be a lot of risks such as food poising, slip and fall and property damages. Once these types of risks occur this is where the HR department comes in to assist in resolving the situation. This why there should be training when these disadvantages come to light. The sage applications have the proper tools to help decide the professional way to handle such situations. The HRIS application provides professional training to each individual HR employee. While these risks can occur, another problem that cans cause small businesses disadvantage are the fiscal cliff which this year small business operators tax rate has increase by 5 percent. Furthermore, knowing these disadvantages will allow you, the Castle’ Restaurant to prepare yourself as a restaurant. In addition, using these vendors and HRIS system will permit better training; and develop great communication between the HR department and the employees and managers for great customer service. It is important to know the negative factor and a positive factor on owning a small business restaurant and to prepare for any tactics on a professional level. In conclusion, I recommend the Sage as your HRIS application and the Rideau Recognition Solution as your vendor. The Castle’s Family Restaurant has been operating on one person basis, with eight restaurants to oversee. There are many duties to maintain to assure a  smooth business; with such issues that can arise in each restaurant, developing an HR department to oversee these tasks will reduce risks that can occur. I have concluded that the Sage HRIS and Rideau Recognition Solution are the chosen application and vendor for your company to help in the developing your restaurant business. The application and vendor will and can assist you in many different factors and help improve employee communication. References Frumkin, Paul. â€Å"How ‘fiscal cliff’ deal impacts small restaurateurs, franchisees.† Nations’s Restaurant News. Jan 9, 2013. Retrieved on 8/24/2013 < http://nrn.com/latest-headlines/how-fiscal-cliff-deal-impacts-small-restaurateurs-franchisees> Business Plan Final. (2016, Apr 29).

CAPM (Capital Asset Pricing Model) and Its Practical Use Essay

CAPM (Capital Asset Pricing Model) and Its Practical Use - Essay Example It is carried out through a properly designed and professional model that does not require to be completely renewed on a case by case basis. It has, therefore, met the requirements of the Asset Management industry in which the capacity to correctly price securities, and to properly infer the right rate of return. These are used to determine traditional and innovative alternative assets and provide all qualities that can make possible for a portfolio manager to gain an early lead over competitors (Brigham and Houston). The model, from a technical perspective, has been based on the works of Dr Harry Markowitz, a widely renowned professional and researcher who had been able to conduct important studies and researches in the field of diversification and of modern portfolio theory. According to his studies, some fundamental proven hypotheses can be synthesized as follows: Harry Markowitz, Nobel Prizer, investigated the effects of correlation rates and of diversification policies and strat egies. As a result, he found that diversification in this sense, when correctly computed and carried out, can reduce and minimize the risk of a portfolio, together with an improvement of its required rate of returns. In this perspective, a Markowitz Efficient Portfolio has been defined as the portfolio where no added diversification can lower its risk for a given return expectation. In this sense, the ability to properly synthesize the main portfolio requirements is needed in order for a portfolio manager to meet the expectations and to reach the highest expected return. Once this efficient portfolio and its relative asset allocation is reached, no investor can minimize the risk further, and any departure from this allocation is perceived as something that impairs the risk level, and any asset added to the portfolio in this sense increases the risk level of the portfolio. An accurate selection of the most efficient portfolio, hence, can be reached through the analysis of the various possible portfolios of the given securities in the light of their degree of diversification. Dr Harry Markovitz also developed and implemented the so called â€Å"efficient frontier†, which represents the total and integral selection of the most efficient portfolios, analyzed on a risk return perspective. Under this view, the portfolios of assets that compose the efficient frontier are the ones that maximize return levels for certain given amounts of volatility (defined as risk). In this perspective, Harry Markowitz developed a mean Variance model that maximizes returns for given risk levels; the major assumptions of the model are the following: Investors tend to be rational Investors can easily determine the set of efficient portfolios highlighted above and can maximize their returns for a given level of risk There is a single period investment, as compulsory one for the analysis Risk of a portfolio is highly dependent on the variability of returns An investor prefers to in crease the consumption Investors are risk averse by their nature The utility function of investors has a concave shape Major technical aspects of this model make possible to infer some major behavioral characteristic: firstly, investors prefer to retain a portfolio with lower risk, for a given return level. In addition to this, for a given risk (and volatility) level, investors tend to prefer portfolios with higher returns (Markowitz). Investors can be defined as risk averse when their expressed main priority is to minimize risk, and therefore, choose portfolios with lower risk. While, on the other side they are believed to be rational when they prefer asset

Do you think David Hockney's research and theory on the use of Assignment

Do you think David Hockney's research and theory on the use of technology by the artists of the Renaissance period is important for artists today - Assignment Example use people are in continuously eyeball and many students have learnt to do it better than Hockney can within a short time .If it was true that, Old artists were not able to make realistic- drawings, then this means that they were worse at drawing than contemporary art students are and this invalidates Hockneys claim and thus his search for a "better" explanation is left unjustified. Â  Contemporary artists record what they have done and the general methods used to demonstrate how they undertake their business. Dictionary of human form by Ted explains how to make accurate human drawings in broad variety of poses. (Ted, 5-35). Hockney explains that, medieval artists feared being burned as witches for making images with lenses and mirrors, but does not explain how contemporary artists publish information and how they do that. He dismisses past centuries evidence which indicate that old artists did not use optical on the grounds that they actively hided secrets by falsifying evidence. He does not put into consideration dismissing the living artists who work in the way that he claims is impossible. He is similar to a conspiracy theorist that supports their theories because there is no evidence to its negation. Ateliers are not new and they present unbroken chain stretching back to the Renaissance. Books written by pre-20th century painters do not mention the use of optical aids in drawing and painting. These books are still in existence but Hockney did not study them to discover how the Old artists did their work. He selectively choose writing that mention optical devices and went ahead to present the claim as if the rest didnt exist and that, artists lied about the methods they used to avoid being burned as witches. His claim is not convincing because the painters he claim could not paint lived in era where there was no chance of being condemned. Sculpture during the olden days were realistic and lively just the same way drawings and painting were and there were