I plan to open a restaurant of national cuisine in my community. Its special feature will be the interior, which creates a traditional atmosphere that helps visitors to immerse themselves in, and live folk music. The items presented on the menu will include dishes based on old family recipes.
Stakeholders of the business
The various stakeholders of my business area are residents of the local community who will act as workers and suppliers, as well as visitors to my restaurant. Moreover, as a stakeholder, I can single out other establishments of traditional cuisine, for which my cafe will be a competitor (Nickels et al., 2015).
Benefits for the Community
Some of the things I can do to benefit my community other than providing jobs and tax revenue are to preserve the national culture. This applies not only to traditional cuisine but also to folk music and everyday life traditions.
Relationships with Suppliers and Employees
I will establish good relationships with my suppliers by concluding a legally competent supply contract and complying with its terms. As for relations with employees, I will always treat each employee fairly. I will put myself in such a way that they can contact me with any questions and count on my help. I will be a strict but fair leader who will celebrate achievements and help eliminate flaws.
Conflict Between Profit and Employees’ Living Wage
I do not see any conflict between my desire to be as profitable as possible and my desire to pay employees a living wage. Since I am opening a restaurant in the local community, the families of my employees will be my customers, so I am interested in their solvency (Nickels et al., 2015).
Environmental Factors with the Biggest Impact on the Business
Among the environmental factors, resources might have the biggest impact on my business (Nickels et al., 2015). Dishes in the restaurant will be prepared from foods produced by local agriculture, so the success of the restaurant will depend on this factor.
Reference
Nickels, W., McHugh, J., & McHugh, S. (2015). Understanding business. Brooklyn, NY: ‎ McGraw-Hill Education.