Nothing Special   »   [go: up one dir, main page]

Faiza and Muqadas Wasim Management

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 12

Fatima Jinnah Women University

Department of Environmental Sciences


Mid Term Assignments
Course Title:
Understanding Management
Semester:
2nd
Submitted to:
Sir Tanveer Abbas
Submitted by:
Muqadas Wasim and Faiza
Submission Date:
June 22, 2020

TABLE OF CONTACTS

1
Sr No. Topic Page No.

ASSIGNMENT NO. 1
1 Decision making process 3

2 Identify a problem 3

3 Identifying a decision criteria 4

4 Allocating weights to criteria 4

5 Developing an alternative 5

6 Analyzing alternatives 5

7 Selecting an alternative 5

8 Implementing alternatives 6

9 Evaluating decision effectiveness 6

ASSIGNMENT NO. 2

10 Problem 7
Name of restaurant 7
11  Vision 7
 Mission 8
 Objectives 8
12 Business strategies 8
 Menu offering 8
 Cost leadership 8
 Product differentiation 8
 Focus strategy 9
 E-business 9
 Innovation 9
13 Swot analysis 9

14 Future strategies 11

ASSIGNMENT NO. 1

2
Suppose you want to purchase a new mobile on the basis of your need. Develop decision
making criteria to purchase a new mobile with the help of decision-making process:

The Decision-Making Process:

Trewartha & Newport defines decision making process as follows:

“Decision-making involves the selection of a course of action from among two or more possible
alternatives in order to arrive at a solution for a given problem”.

Decision-making is a regular task for every human being. Throughout the decision-making
process, we select one course of action from a few different alternatives. In the decision-making
process, we may use a number of tools, techniques and perceptions. In addition, we may make
our own private decisions or prefer a collective decision. Most corporate decisions involve some
level of dissatisfaction or conflict with another party. Decision making process generally
involves eight steps. I want to purchase a new mobile phone. For this purpose, I used decision-
making process. The steps of decision-making process in buying a mobile phone are explained
below:

1. Identifying a problem: The first step of the decision-making process is to identify a problem
and realize that there is an issue, and that action needs to be taken. So firstly, it is important
to know what is meant by problem? A problem is a situation regarded as unwelcome or
harmful and needing to be dealt with and overcome. If the problem is not identified in precise
terms, it is very difficult to find solutions. If we ignore problems because we aren’t sure how
to address them. However, this tends to lead to more and bigger problems over time.

I have a mobile phone but it isn’t working properly. It is important to identify my problem first.
My mobile phone gets overheated, have limited storage, camera is not working and screen is
shown blank. In Today’s World, Mobile phones are fundamental accessories if not necessaries. I
have faced communication problems with my friends and teachers. Also, our university has
started online class system due to pandemic Covid-19. It is difficult for us to join online classes
because mobile phone isn’t working. Also, for assignment submission we have to send
assignments via e-mail. Even I am not able to retrieve information from internet for my studies.
Cell phones nowadays are not only a device but also a symbol of vogue. I need a new mobile
phone to solve my problems.

3
2. Identifying a Decision Criteria: After I identified my problem, the next step is identifying a
decision criterion. My decision criteria include:
 Feature:
A feature is the attribute of a product that meets the level of satisfaction of the consumer 
needs. Mobile phones have different features that provides communication. Feature is the
first decision criteria in purchasing mobile phones. Followings are the features that I kept in
mind while purchasing mobile phone.

Storage, Battery, Camera, Display, Warranty

 Price: Price will always be the key concern in purchasing a mobile phone. There are
different price ranges of mobile phones in markets. People use to buy them in accordance
with their status. I want a mobile phone whose price range is medium that is affordable for
me. So, price is second most important factor in decision criteria for me.
 Social Influences: Humans are known as social animals and they live in societies. Social
influence is present in most of the societies in almost everything. Social influences mean one
person causes in another to make a change on his or her feelings, attitudes, thoughts and
behavior, intentionally or intentionally. I am influenced by my parents, peers, siblings and
also from social media.

According to Kotler and Armstrong (2007), person’s action is being influenced by people
surrounding them. They would seek for suggestion, advice as well as experiences of people

It is important for me to take advice from one that already purchase and used smartphones of
different brands.

 Brand: There are so many smartphones brands in the market. After social influence another
factor in my decision criteria is mobile phones brand. I took advice from people that has been
using mobile phones of different brands. Then, I choose top rated phone in reasonable price.
3. Allocating Weighs to the Criteria : The next step is to assign weights to the criteria. To
assign weight to each of the criteria defined in step two, I simply placed items on the list
from the most important to the least important, with the most important item corresponding
to the number of variables I have and the least important item being one. While I was making

4
a decision, the most important criterion is the features of mobile phones. So, the biggest
weight should be given to Smart phone features (storage, battery, camera, display, warranty).

Storage 10 Warranty 8
Battery 10 Price 25
Camera 5 Social Influence 18
Display 7 Brand 17

4. Developing an Alternative: As I gathered information, I'm likely to identify number of


possible paths of action or alternatives. I can also take advantage of my imagination and
additional information for the construction of new alternatives. I will list all possible and
desirable alternatives in this step which includes Q Mobile Noir E8, Samsung Galaxy A30, Oppo
A9, Huawei P30 lite and Nokia 7.2.

5. Analyzing Alternative: The alternatives are developed. Next step is assessing each
alternative; I should be looking at the likely positive and negative consequences of each. It is
unusual to find an alternative that would completely solve the problem, after which I will decide
the best one.

Alternatives Storage Battery Camera Display Warranty Price Social Brand


Influence
QMobile 8 8 3 5 7 23 16 15
Noir E8
Samsung 7 7 3 5 6 19 15 16
Galaxy A30
Oppo A9 7 7 4 6 5 21 13 13

Huawei P30 8 7 4 6 6 20 17 16
lite
Nokia 7.2 8 9 3 5 7 22 14 14

6. Selecting an Alternative: The next step of decision-making process is choosing the best
alternative. In general, the best alternative is the one with the highest probability that the problem
will be resolved and the lowest risk. From analyzing alternative process, I decide to purchase

5
Huawei P30 lite as it has highest scores. Much of the effort that goes into a purchase decision
occurs at the stage when a choice must be made from the available alternatives.

Alternative Storag Battery Camera Displa Warrant Price Social Brand Total
s e y y Influence
Q Mobile 8 8 3 4 7 23 16 15 84
Noir E8
Samsung 7 7 3 5 6 19 15 16 78
Galaxy A30
Oppo A9 7 7 4 6 5 21 13 13 76

Huawei P30 8 7 8 6 6 20 17 16 85
lite
Nokia 7.2 8 9 3 5 7 22 14 14 82

7. Implementing the Alternative: Next, I'm going to need to create a plan for implementation.
This involves identifying what resources are needed and getting people's support. Getting others
on board with your decision is a key component of the effective execution of your plan. As it is
clear from step 6 that Huawei p30 lite has highest score so I decide to buy it.

8. Evaluating Decision Effectiveness: The final step in the decision-making process involves
assessing the outcome decision to see whether the problem has been resolved or not. When this
review indicates that the issue already remains, I will have to determine what went wrong. Was
the question incorrectly defined? Was the right alternative chosen but not well implemented?
Answers to questions like this could take me back to one of the earlier steps. It may even require
the start of the entire decision-making process.

ASSINMENT NO. 02

6
Suppose you want to open a new restaurant in Rawalpindi/ Islamabad. Develop the
Business level strategies of your hypothetical business in food industry.

 Identify a Problem: In a past few years, there were too much eating disorders and the
problem was that there were many restaurants which didn’t pay any attention towards
hygiene and In Pakistan there are fast food restaurants almost everywhere. When people visit
these restaurants, they don’t even know that the oil in the things that they ordered is clean or
not. Along with this so much oily things can cause cholesterol problem, heart diseases and
obesity. Now people are moving towards hygienic and low-calorie food.

I want to open a Chinese restaurant in Rawalpindi in which we can introduce low calorie
hygienic food and I shared this idea with my friend few months ago. But at that time, we didn’t
have enough money, we started thinking and then we found a solution and then we decided to
sell piece of land which we had in our villages. We agreed at the idea of 50-50 partnership
hence, we both invest 70 lacs in our business. We want to open a restaurant in Rawalpindi
because it is a profitable place in Pakistan and on the other had we both are interested in hoteling
so we have much idea about the market demands and price rates of different restaurants of
Rawalpindi.

 Name of the restaurant: The name of our restaurant will be M n F as we decided to Put first
alphabets of our name as restaurant’s name. The slogan will be House of Chinese.

M n F House of Chinese
 Vision:

TO SATISFY OUR CUSTOMERS AND BE AMONG THE CREATIVE AN INNOVATIVE


LEADER IN THE CHINESE CUISINE OF PAKISTAN.

 Mission: Our mission is to serve fresh, healthy, nutritious and good taste Chinese food in
low price. Our restaurant will be inspiring by combining an eclectic atmosphere with clean,

7
friendly and convenient environment. We will maintain a friendly relationship with our
suppliers, employees and customers. We’ll use theme concept and diverse menu on special
occasions.
 OBJECTIVE: Our objective is to serve Chinese food to our community, aware people about
healthy food and create a sense of loyalty in our customers to make them regular customers,
focus on convenience and ambience of customers and try our best to use the resources in an
efficient manner.
 Strategies: The main strategy in opening of a restaurant is choosing a well-known location
so we decide to open our restaurant in Westridge I because we live in Westridge II and this
location is near to us. Some other business strategies are as follow;
 Menu Offering: In the initial years, we will offer chow Mein, noodles soup, fried rice,
Manchurian and chilli chicken along with cold drinks, ice-cream and fresh juices and with
the pace of time when we established, we introduced some more Chinese dishes. All the food
items are available in range of 600-2000 rupees depend on the size of plate i.e. small,
medium or large and we’ll also offers deals on birthdays and anniversary occasions.
 Cost Leadership: Cost leadership is very important factor in market and we can achieve it
by increasing buying power that helps in bargaining of the buying products, by reducing
wastage and by increasing the efficiency of employees which leads to good marketing of our
business. On the other hand, when we use fresh vegetables from our farms of village than it
also reduces our buying power because the main ingredients in Chinese food are vegetables.
When we take vegetables from our farms then we get fresh and nutritious vegetables and
customers feel happy from our food. When we provide Chinese food in reasonable price and
quality to our customers then it increases demands of our food and when demand increases
then our profit and income increases.
 Product Differentiation: Serving something unique in the market that are different from our
competitors are very important for establishment of our business because there are too much
fast food restaurants in the market which are main reason for obesity. Opening a restaurant is
not a difficult task but the main factor is how can we enter in market and that is only possible
by providing uniqueness in our products. There is hardly any restaurant in
Rawalpindi/Islamabad which focus on quality of oil because now-a-days people become too
much diet conscious and they focused on diet food so they mostly try to avoid going to

8
restaurants. The product differentiation in our restaurant will be cooked food in olive oil and
used fresh vegetables in our cuisine with low calories helps us to come in the market very
easily.
 Focus Strategy: Our main focus will be on cost, nutrition, environment, good relations with
suppliers and customers by feeling them happy and comfortable. Customer satisfaction will
be our first priority because customers make us and customers break us. When we satisfy
them with quality and taste of food, they must come again and become our regular customer.
We also satisfy our customers by providing them high standard of cleanliness, natural
environment and serving best quality product in reasonable price. Our suppliers are very
important if we have good relations with them, it helps us in bargaining with them and they
supply food items at right time.
 E-Business: We want to register our restaurant online and promote it on social media plate
forms. The food industry is continually growing in an effort to cater increasing market needs.
Getting an electronic purchasing system is the perfect way for our restaurant to raise revenue.
We can improve customer satisfaction and in turn, we can increase sales by attracting more
customers to our restaurant, thereby reducing the stress on our employees, number of
employees and also reducing the pressure on the individual taking orders over the internet.
We'll encouraging our restaurant customers to order their meals online and that's why they'll
going to choose our restaurant over rivals.
 Innovation: We make Kids mania in a small portion of our restaurants, along with this we
provide kids gadgets, toys, colors and story books to children. “Happy meal that comes
with joy”.  We can use unbleached paper napkins used from recycle material. We will also
provide diet meals and for diabetic customers we make special meal according to their
nutrition chart. Free Wi-fi and internet facilities will present in our restaurants.
 SWOT ANALYSIS:
 Strength: Our Strengths inside the organization is a well-qualified staff with expertise in
serving customers, providing our customers a large menu with lots of Chinese food choices.
As my brother and some friends have diploma in international cuisine, so we must take
advantage from them. Through our website, customers can learn more about healthy food,
calories in our food items and take advantage of learning about the ingredients that we use in
our food. We offer home delivery within 2 km of the surrounding area. We attract traffic in

9
slow times by selling special deals, such as "buy two meals, get one free before 5 p.m." to
get the customers in the house, that's the strength. Our strengths can include serving a
particular form of ethnic food that is not served elsewhere in the region.
 Weakness: Additional funding is required to improve the consistency of the product
delivered and satisfy future curriculum criteria. We do not have a huge marketing budget, so
we first focus on word of mouth. Training and orientation of new workers is required. We'll
unknown with a new restaurant experience in the market, our name isn't popular, the
competition is high but we'll going to be a well-known restaurant and make our name brand
name and after getting success we’ll open our branches in other cities in the future.
 Opportunities: There is a building nearby our restaurant location and we signed a contract
with the owners if we become successful in this business then there is an opportunity to
extend our building and introduce more cuisines. We’ll also introduce diet meal to our
customers because it’s too much trending. There is also opportunity for us to enter in
international market because many foreigners come in Capital city and visit the local and
branded restaurants of Rawalpindi and Islamabad. We’ll offer jobs for delivery boys and
educate them customer service techniques.
 Threats: Our main threat is our competitors that are present nearby. Presently, there are so
much brands cuisine available and it’s become very difficult for new ones to enter and
become successful. We can compete them by providing our food items in low price. If
government will increase cost of ingredients and sales tax than it becomes very difficult for
us to provide the same services to our customers in low prices. If the economy goes down
then it becomes difficult for people to come out outside for hoteling. Mostly people don’t
aware about hygienic good and they go towards fast food so it might be risky for our Chinese
cuisine.
We have started implement our strategies to solve our problem. As the problem was there
are many fast food restaurants of high standards in Rawalpindi but hardly any Chinese
restaurant which provide low calorie high standard food with affordable price and have other
characteristics too. We have made team that works really hard to provide clean environment
with quality of food.
When we evaluate our strategies, we have come to know that we can’t pay attention towards
ambience of the restaurant and promotion. For this purpose, we can create an atmosphere to

10
promote a healthy eating culture and use lighting and visual cues to make healthy choices
that appeal to young people and parents Also we made relationships with advertising
companies to promote us.
 Future Strategies: We’ll donate 10% of our annual profit to Pink Ribbon Pakistan who is
working for breast cancer. Charity work is also very important for motivation of our society
to help poor and needy, experience pleasure and promote generosity. We’ll import some
cooking technologies and utensils from China and America and get listed in online food
ordering websites and apps like food panda and many more. We’ll advertise our restaurant on
local television channels. Restaurant will be built with the consideration of its expansion as
the profit increases, it will be branched out and after then the objectives will be revised in
consideration of converting it in to hotel chain.

11
12

You might also like