Mgt 401 Week 2 Essay Example for Free

Mgt 401 Week 2 EssayBusiness Model ComparisonMost small businesses require some(a) outside funding. not many entrepreneurs have enough personal capital to open and maintain funding for a business. To attract investors and attain partnerships, a business owner should take away a business model necessary. This paper will comp ar two restaurant businesses, grade the business model and forms of ownership for each business by completing a Comparison of Business matrix, describe benefits by building a sustainable competitive benefit, and giving advantages and disadvantages of each business ownership. Great introduction. You submit the intention and what you plan to addressMcDonalds restaurants are among the most recognizable in the world. Their quintessential arches can be identified in almost each country. This fast-food mogul is one of the biggest and most profitable corporations in the industry (what industry? perplex sure you provide information on the restaurant industry). Serving as a polar opposite is Datillos restaurant in Hemet, California. This small restaurant is known as the only fine dining experience in town and has only one location. The companies both re certify the polar opposites of forms of business ownership.Comparison of Businesses MatrixComparison Items McDonalds Datillos tight food, lower-ranking quality, low prices. Sit-down restaurant, high quality, and mid-level prices Value Proposition We place the customer experience at the coreWelcome home, here you can enjoy a everyday of all we do lunch or dinner in a warm, festive (Values In Action, 2013). atmosphere. (Datillos Ristorante About Us, 2013). Target Market completely Markets, all classes All Markets, all classes Value Chain Attractive to people looking for inexpensive Attractive to people looking for a fine dining and fast food. Fast growth rate. experience. Can compete with rivals on quality and service. Revenue In 2012 gross income was $27.6 Billion. I n 2012 gross income was $459,000. Position More opportunity for expansion and uncomparable cuisine (niche) offers competitive competitive advatange advantage, less opportunity for expansion Competitive Strategy Serving food at the lowest possible price unless fine dining in town. Authentic Italian while reserving as untold quality. Also reliantfood, very high quality products. on nostalgia to submit customers back. Form of Ownership Corporation When a business is owned by Sole Proprietorship a business that is owned multiple people and lean by lower-lying and managed by one person. managers and employees. Good informationBenefits To Building A Competitive AdvantageWhen evaluating the benefits of each business, it is important to consider the size of each business. As an example, both sole proprietorships and partnerships are relatively small in size and may perhaps provide more personalized service to each of their clients. In many businesses, customers appreci ate personalized service and may in turn hire small businesses for that service. On the other hand, a larger business, like McDonalds, typically is composed of more resources and may offer the prospective customer a lower price.Another competitive advantage of a smaller business, like Datillos, is the big businessman to provide customers with a higher level of quality. Because customers of small businesses deal more closely with a tight nit group of employees, the quality and service provided to the customer is much greater than a larger corporation composed of numerous locations.Both small and large businesses each have distinct advantages that enable them each to thrive. Although some customers may appreciate the more personalized service of small businesses, others may prefer a lower price and a larger name brand. Make sure paragraphs are a minimum of 3 sentencesAdvantages and Disadvantages of Business OwnershipMcDonald is known for the quality the restaurant serves, and the opp ortunities the McDonald restaurant offer. McDonalds has been number one in the fast-food commercialize in the United States, and the most memorable brands, products, and mascots. McDonalds franchise owner can be safer than lesser-known franchises because the McDonalds name and operational model comes packaged with its own legion of liege customers and industry-best practices for restaurant success. A franchise store such as McDonalds canhelp business owners to achieve financial independence by associating with an international whizz-kid that can almost guarantee a certain degree of success. Another advantages of McDonald have is that McDonalds cis that they can invest behind any market seek it does and eliminates the need for a franchisee to do expensive research. Although McDonald it has its advantages, there are disadvantages associate with McDonalds. The restaurants have been target in a battle against what has been term the obesity epidemic, modeling McDonalds outlets along with their owners in a highly negative light in the media, and their communities. McDonalds and its peers respond to this negativity by attempting to add healthy options to their menu, except the stigma is in all likelihood to linger. One of the advantages Dattilos Restaurants is that the restaurants offers an extensive classic Italian menu, comprised of items made from locally sourced premium quality ingredients, cooked to order for each guest. The restaurant uses sure and healthy Italian accent. Dattilos also offers Internet special discounts and family gathering for its customers (Dattilos Ristorante, 2013). The disadvantage is Dattilos restaurant location are limited, the restaurant has not expanded their services statewide. Confusing sentence, consider rewording ConclusionA business model is one essential factor in the success of a business. The business models of McDonalds and Dattilos are much different but both successful. McDonalds is a major corporation with thousands o f locations and Dattilos with just one, but both have been in business for many years. There are advantages and disadvantages of both types of businesses, but regardless building a sustainable competitive advantage is achievable. The two restaurants compared in this paper offer different levels of quality, service, and cuisine, thus requiring a different level of ownership that each business model relays.ReferencesDatillos Ristorante (2013).About Us, 2013, rRetrieved fromhttp//dattiloristorante.com/?page_id=8McDonalds Values in Action, 2013, retrieved fromhttp//www.mcdonalds.com/us/en/home.htmlContent and Organization Points Comments 70 Percent Earned 6.5 Profile of a Small Business (Week 2) All make out elements of the appointment are coveredgood job Y You distinctly identify the two businesses but make Y sure you clearly identify the industry. N Good job explaining the advantages and disadvantages. N Make sure you provide academic a nd business research to validate your thoughts and Y opinions. Your introduction clearly states your purpose and what you plan to address. Y Your conclusion needs to review the major points Y of the paper- good job Y Y Y All key elements of the assignment are covered in a substantive way. 700 to 1050 word count The content is comprehensive, accurate, and/or persuasive. The paper develops a central theme or idea, direct toward the appropriate audience. The paper links theory to relevant examples of current experience and industry practice and uses the vocabulary of the theory correctly. Major points are stated clearly are supported by specific details, examples, or analysis and are organized logically. Identify an industry with which you are familiar, and then choose two businesses in that industry. Identify the business model and forms of ownership for each bus iness, then complete the Comparison of Businesses Matrix. Describe benefits associated with each business byevaluating how they built a sustainable competitive advantage. Explain advantages and disadvantages of each businesss ownership. The introduction provides sufficient background on the topic and previews major points. The conclusion is logical, flows from the body of the paper, and reviews the major points. readability and Style Points Earned 1.5 Comments 15 Percent Great jobyour sentences are well-written and Y error free. Y Y Y Y Paragraph transitions are present and logical and maintain the flow throughout the paper. The tone is appropriate to the content and assignment. Sentences are complete, clear, and concise. Sentences are well-constructed, with consistently strong, varied sentences. Sentence transitions are present and maintain the flow of thought. Mechanics Points Co mments 15 Percent Earned 1 Research adds validity N to your thoughts and ideas. Continue to expand your use. You N provide no business research or materials N from class. Y Ensure paragraphs are complete thoughts and Y flow into each section. Please continue to review the CWE and APA guidelines. The paper, including the backing page, reference page, tables, and appendices, follow APA guidelines for format. Citations of original works within the body of the paper follow APA guidelines. The paper is laid out with effective use of headings, font styles, and egg white space. Rules of grammar, usage, and punctuation are followed. Spelling is correct. Comments Great work team Points earned 9