MANAGEMENT

An introduction to Business

Introduction to Business

Case Study: Lodge Bistro chain

Part A

After reviewing the case study of Lodge Bistro Chain I am able to identify following problems that the business is current facing

The business is currently facing severe economic crises due to economic recession, due to poor economic policy adopted by the manager of the business.

Currently the business is going through environmental problem due to increase of competition, poor quality of food served to the customer,

Business of Lodge Bistro is currently facing sociological problem due to sudden change in working pattern, role of the managers of several units.

Technology is normally effective for the business but in case of Lodge Bistro is has not as the employees are facing it difficult to understand the technology and are making certain errors that are effecting the business.

Part B

Following concept are relevant for the problems that I have identified in the case study of: Lodge Bistro Chain

Economic Concepts

Economic factors plays a vital role in the success of business but also has a negative effect on the overall outcome of the business such as increase in the interest rate by the state bank of the country forces the business to increase the prices of their goods and services which ultimately effect the overall business, similarly increase in inflation also has a negative impact on the business.

Example from Lodge Bistro

Recession in the economy is the major factor of the problems that business is currently facing as it has created lot of tension in the mind of the stake holders of the company and they are eagerly waiting for the proper response from the manager, further that business is in dilemma to find a suitable selling price as compare to competitors due to constant fluctuation in the market prices.

Environmental Factors

environmental factors also play a vital ...