Business Planning and Strategic Implementation Simulation

1. Business Planning and Strategic Implementation Simulation New Restaurant Start-Up

2. Business Plan Simulation • Restaurant-as-metaphor for any product, service or industry • Point of Application • Strategic Management concepts • New Product Development and Innovation concepts • Business Plan Development and Presentation • Integration of Business Functions and Processes • Marketing • Budgets & Accounting • Human resource management • Operations, purchasing, logistics • Teamwork and leadership • Competitive analysis and strategy • Business communication

3. New Restaurant Start-up • Develop business plan • Ideation, strategy development, budgets • See new restaurant business plan PPoint template • See new restaurant budget Excel template • Shop for, cook and serve signature dish • Three servings: One for presentation, two for buffet • Trial run at your home or apartment? • Pitch new restaurant business plan to “investors” • Oral presentation of business plan (20 minutes each) • Test-taste “signature dish” during lunch

4. Lexington’s Restaurant Market

5. Menu • Comprehensive enough to support your concept • Appetizers • Salads • Entrees • Desserts • Beverages

6. Signature Dish • Design one dish that exemplifies your concept

7. Signature Dish • Anything goes, but…

8. Staffing Plan • Wait staff • Kitchen staff

9. Kitchen Operations • Cooking Team

10. Cooking Techniques & Equipment

11. Cooking Techniques & Equipment

12. Location Us Dudley’s MerrickInn

13. Physical Environment and Ambiance • Floor plan • Décor • Table aesthetics • Staff appearance

14. Simulation Schedule Today • Simulation Overview • Q&A February 10 – March 8 • Team work sessions • Spot-check via Skype: Concept, menu, signature dish. • Cooking test run March 9 New Restaurant Business Plan and Tasting Competition • Prep and cook 4:00-7:00 • Business Plan Presentations 7:00 and 7:30

15. …take a closer look…