Task For Diploma Management Assignment: In order to be competitive and make a profit a businessman realise that continuous improvement must be maintained.
Introduction
Being a businessman and an entrepreneur of a mobile food truck, one should always keep in mind about customer’s taste and eating habits As we can see on this Diploma Management Assignment. The customers prefer eating foods which tickle their taste buds (Fry et al. 2011). They seem to prefer foods which have good texture and are more appealing. Along with this the businessman has to keep in mind about its product’s Unique Selling Point, the truck’s design, presentation and most likely its cash. Customers mentality is to save money, they don’t want to compromise with the taste and quality of the food but they want to get that in cheap.
Strategy to encourage the team
The main strategy management the businessman should follow is to stay in people’s visibility; because more the visibility will be the perception about the food truck will be higher Diploma Management Assignment. This will lead to attract more customers. As a result of which more profit will be gained and the employees will get higher incentives (Hermosillo and Jesus 2010). This will lead to the customer satisfaction of the employees and hence they will work more and more efficiently to satisfy their customers. Another strategy can be minimising the variety of food options. This is done so that the employees will be expertise in the specific food products and can further research on those to make the food products the best.
KPIs for each department in the business management
Weekly Sales- It is the number which denotes which of the items are sold in large quantities and which items are sold in fewer quantities (Stensson and Annika 2011). It will help the businessman to know its strong and weak products and can increase its focus on weaker products and try to maintain the level of stronger products.
Inventory Value- It denotes how much food products and raw materials need to be backed up in the storage so that they never fall short of products (Mehaffy and Michael 2008).
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Labor Cost- It signifies how much money is spent behind the labors (Sayers and Megan 2011). It includes salary, benefits, incentives and insurance.
Business Turnover– It indicates the net profit from the business (Tester et al 2010). It includes both employee turnover that is the number of current employees and profit of the business that the businessman solely gains.
Customer indicators- The main aim of a business is customer satisfaction. It can be measured in various ways such as feedback forms, social media. E-mail addresses can be taken to provide them special discounts and let them know about the offers (Stensson and Annika 2011). In this Diploma Management Assignment will keep a direct contact with the customers which will help in retaining customer loyalty.
Method to monitor and ensure coaching and mentoring processes to match with other industry sectors
The businessman along with the employees has to get up early in the morning and have to arrive to the truck early. The labors will be divided into different groups. One group will monitor the inventory and back up it with useful ingredients (Tester et al 2010). Another group will cut up the ingredients and will cook accordingly and the other group can take orders and will look after the cash. Continuous monitoring need to be done by the owner himself and it is easy for him to look after each group who is in charge of specific work.
Outline a training session to ensure continuous improvement
A proper and methodical training session improves the efficiency and working capacity of the employees. Special training session to new joiners must be given. Saturday and Sunday all the employees along with the owner have to work late (Stensson and Annika 2011). They will have to sit together and discuss their week’s total sales profit, what are the problems they have faced with their sales, what are the strong points of their selling and their customer’s feedback.
Continuous Improvement and Risk Assessment are important
Continuous improvement and risk management assessment both are equally important for running a business successfully. The areas of improvements are-
The versatility of products- The versatility of products will increase the attraction of the customers. The customers can get many kinds of food from a single truck (Tester et al 2012). But this may lead to the decrement of the quality of food items which may equally affect the customer’s loyalty of Diploma Management Assignment. This will ultimately lessen up the revenue of the company and its rivalries will start earning more. This can even damage the image of the food truck. And the rivalries will take an advantage of it.
Hiring more employees- The more employees the businessman hires work will be distributed. It will specify the work of the employees thus making them efficient in their fields (Stensson and Annika 2011). But this can lead to miscommunication between employees of different departments handling different tasks which will ultimately hamper the supply of the food in time to the customers which will hamper the business.
Interaction with customers- The ultimate goal of every business is customer satisfaction. It’s very necessary for the business owner to interact with the customers and to know their feedbacks, email id and phone number (Stensson and Annika 2011). This is done to let them know about the offers and discounts. But continuous disturbances through spam mails and mobiles will make the customers feel disturbed leading to customer dissatisfaction.
Maneuverability-A motorized van is very important to have for a food truck business owner. This will help them to move around in different parts of the country (Stensson and Annika 2011). But the increase in petrol is a major problem to it. By chance if the truck breaks down somewhere, then the business will come into stable for a while. They can’t supply food to their loyal customers. This will lead to the dissatisfaction and loss of the business.
Mobility- The food truck can move from one place to another place. This helps them to cover a huge portion of every place every day (Tester et al 2010). But the major risk is the law of different places. The food trucks are also bounded to listen to the rules and regulations of the government. In some places trucks need to be moved before two hours of their parking. They must park their vans at a distance from the established restaurants. Moreover GPS helps the truck to locate them very easily but if it not updated time to time it is punishable under offence
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