Identify a ‘hypothetical’ business opportunity that if you had the funds, time and drive you would pursue as a business start-up. This could be an idea you believe has the potential to become a...

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Identify a ‘hypothetical’ business opportunity that if you had the funds, time and drive you would pursue as a business start-up. This could be an idea you believe has the potential to become a business for you to own and grow. Business ideas can be discussed with your campus tutor, or via email consultation with the unit coordinator for distance students. Provide a brief description of your organisation: its size, the industry and country/countries in which it will operate, the strategy and vision that it will adopt. Using information from Topics 1-5 on the Moodle site:

  • Describe the organisational structure that best suits your new business start-up.

  • Discuss the external and internal environmental forces that will impact your business organisation.

  • Analyse the risks that will confront your business organisation.

  • Describe the business practices that you will adopt to enhance organisational performance.

  • Discuss the most important functions within your business organisation and how these relate to its performance.

The format of the assessment is an essay of 1500 words (+/-10%)

  • Regional Economic IssuesOR

  • GlobalisationOR

  • Cross Cultural Management

  • choose any one topic for the essay of hypothetical bussiness

Answered Same DayDec 12, 2019MGMT20144Central Queensland University

Answer To: Identify a ‘hypothetical’ business opportunity that if you had the funds, time and drive you would...

David answered on Dec 24 2019
148 Votes
Table of Contents
Introduction    3
1. Background of Tasty Food Monger    3
2. Organisational Structure of the business    4
3. External and Internal environment influencing the organisation    5
4. Potential risks of the b
usiness    6
5. Business practices that will enhance performance    7
6. Essential functions and their relation to the performance    8
Conclusion    9
Reference List    10
Multinational companies have to overcome certain hurdles to conduct business process in different regions properly. It is seen in most of the companies that different cultures of different target market create most of the issues from providing consumers with services or products to managing employees. This assignment sheds lights on certain processes of cross cultural management through Tasty Food Monger, an international restaurant chain in context of Australia.
1. Background of Tasty Food Monger
Tasty Food Monger is a food and beverage chain which is willing to start a business in context of Melbourne, Australia. Most of the employees and chefs of the company are has the origin of UK and the food and culture are also based on certain parameters. Vision of the company is “To improve the appetite of Australian people with quality food and beverage”. On the other hand, mission statement of the company says that “to acquire progress by bringing innovations to delicious foods and beverages”. Tasty Food Monger will operate conventional restaurant service in context of Australia where Asian, Australian and Continental food. Ridoutt et al. (2016) opined that it is seen in context of Melbourne that restaurant industry is highly competitive in the presence of local and multinational companies. In context of Australia, income state of food and beverage service is continuously increasing. This competitive environment will be essentially important to determine certain business process for the company.
Figure: Food and Beverage income in Melbourne
(Source: Carey et al. 2016)
2. Organisational Structure of the business
The organisation will follow a matrix structure comprising of divisional and geographic segregation. It will have separate segments for different locations, which will be further divided as per the products and services. As stated by Nyhagen & Baschung (2013), matrix organisational structure combines departments found in functional structures along with project teams. For instance, a team employed to prepare a food item will include marketing, finance, human resources and production department. Similarly, each of the other products will have each of these functions. Together they will form a matrix structure facilitating ease of operations.
Figure 1: Proposed Structure of the Business
(Source: Created by Author)
The specified structure has been chosen since it helps in proper communication, resource coordination, specialisation and flexibility. It will help to share human resources effectively across the projects. Each functional area will maintain specialised professionals for meeting project requirements. There will be better communication among the workers. Since the business is aiming to offer wide range of products in diversified locations, the matrix structure will help in focusing on a particular product at a time. Each project manager will be able to concentrate on specific products thereby, enhancing maintenance of food standards and ethical policies in customer service.
3. External and Internal environment influencing the organisation
Any form of new business faces the impact of various external as well as internal factors that bring about different changes in the company operations. Introduction of the new business in Australia will face tough competition from the...

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