WEEK 4 EOC: Chapter 5, Quiz Question 2

WEEK 4 EOC: Chapter 4 Quiz Question 3

QUESTIONS:

a. Compare Rachel’s Cash % with the chain’s %.  Is it higher or lower?  What might this mean?

b. Compare Rachel’s Inventories % with the chain’s %.  Is it higher or lower?  What might this mean?

c. Compare Rachel’s Accounts Payable % with the chain’s %.  Is it higher or lower?  What might this mean?

d. Compare Rachel’s Notes Payable % with the chain’s %.  Is it higher or lower?  What might this mean?

ANSWERS:

a. Rachel's is 4.5% and the chains is 6.70% This simply means that she is losing more money compared to the industries expectations. 

b. Rachel's inventories is 2.7% and the chain's is 1.30%. This means that she has way more inventory than needed

c. Rachel's is 11.3% and the chains is 10.50%. This means that she is going slightly over the amount that she owes from a lender. 

d. Rachel's is 2.5% and the chains is 1.10%. Again, like the accounts payable the notes payable fall under that same category. She owes just a little more than the average

Week 2 EOC: Greatest Restaurant Experience

One of the greatest restaurant experiences I've had was not at some high end luxury steakhouse or some luxurious 5 course meal, but it was at a middle class family restaurant. At the Blueberry Hill restaurant where my family and I always frequently visit, either for breakfast or dinner. The meals there always feel like home cooked meals so that is why we always visit. We also have created relationships with the servers and even the manager of the place since they see us and attend to us all the time. This particular time would have to be the best visit yet. We go in for dinner for my mothers birthday, we walk in and there is the manager greeting everyone that comes in with a smile. He asks us how we are doing and I tell him that we have come to celebrate my mothers birthday. He continues conversation and we are then escorted and seated at our favorite table as the manager knows. Our server comes and takes our order, very friendly and makes us laugh. We order desert and when we finally get ready to pay the bill the server comes to us and says "it's been taken care of". My father, mother and I all look at each other in shock. The manager waived the dinner cost. He said it was the least he can do.

"Hospitality managers working in restaurants and hotels simply must be able to accurately predict the number of guests they will serve as well as when those guests will arrive" (PG 353)

Now, for everyone free dinner would make any restaurant experience a great one. But this one in particular was great because of the care and one on one relationship that the manager and the servers have with the customers is a special one.

"Hospitality can be defined as the friendly and charitable reception and entertainment of guests or strangers." (PG 4 )

Anyone can take your order and bring out your food but there is that special passion one has to have to make an experience a great one. Blueberry Hill restaurants are the average family walk in diner type of restaurants but what makes it great is the attitude of the people working there.

"When hospitality is defined as the lodging and food services industries, it can include a variety of managers in related fields." (PG 5)

You can feel the warm friendly environment right when you walk in.

WEEK 1 EOC: My Voice

As a fashion retail management professional, I can confidently say that in my area of expertise there isn't just one definite job description and that is what I absolutely love about my profession. One day I could be sewing and helping out with a garment and the next I can be assisting in bringing a store from the ground up. Even on my off days I love watching documentaries about fashion houses and designers. Clothes themselves are a form of art and expression. People wear what they feel. I love learning anything and everything I can about street style, luxury brands and couture; even if it is just by me walking into Barney's or a store at Crystals and browsing through the different garments they have. The art and business of fashion is always constant and changes every day, that is what fascinates me about my industry.

WEEK 1 EOC: Chapter 1, Question 3

Laurie Tenk is a purchasing agent for a restaurant chain.  One of her suppliers has been late on deliveries the past two weeks.  She has discussed this with the salesperson, and he assures her that the problem will be solved.  In an effort to "make things right" the salesperson delivers two cases of hot dogs to her office for "sampling".  She plans to have a back yard barbecue this weekend for her neighbors.  The free hot dogs would lower her cost of this event considerably. 

From an ethical point of view, how should she handle this situation?

Explain your decision making process and defend your answer.  Use the five Ethical Guidelines in this chapter as a basis for your answer to explain what should be done with the hot dogs.

Answers:

a. Is it legal?

yes it is legal. 

b. Does it hurt anyone?

it does hurt the comapny. if an employer were to find out about her taking the samples home they would be upset that they didn't fairly share the supplies with the rest of the company.

c. Am I being honest?

No, the purchasing agent is not being honest with her employers. As I said in the previous answer if the employers were to find out about her actions, some of them would be very unhappy.

d. Would I care if it happened to me?

If i was the owner of the business I would immediately let my higher ups know about the situation at hand

e. Would I publicize my action? Yes I would because at the end I would know that I did the right thing

f. What should be done with the two cases of hot dogs? Given to my bosses