Discuss the following scenarios: You and your partners have decided to open in your local community a medium size restaurant. Each of you is investing RM50,000 in the venture, and together you planned to secure a bank loan for RM100,000 more to begin operations. This report is prepared to secure the approval of your loan application from the respective bank. Your report must contain the following:
1. Decide what your respective managerial roles in the restaurant will be. For example, who will responsible for the necessary departments and specific activities. Describe your managerial hierarchy.
2. Discuss the most important decisions that must be made about (a) planning, (b) organizing, (c) leading, and (d) controlling.
3. Which competitive advantage(s) do you need to establish to help your restaurant succeed? What criteria will you use to evaluate how successfully you are managing the restaurant?
4. What do you all need to learn and to do to become an effective manager?
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