REDEFINING

Hilina D. Ajakaiye

S1) STATEMENT OF CHALLENGE

My restaurant cannot open until my business plan is complete.

Challenge Statement TestTest Questions Column 1 Column 2

1) Is the SOC one issue? Yes No

2) Is the SOC in the future or present tense?

Yes No

3) Is the SOC a problem or solution?

Problem Solution

4) Are the SOC facts verifiable? Yes No

5) Are the SOC assumptions valid? Yes No

6) Is the SOC essential to your overall goal

Yes No

Clear Statement of Challenge

My restaurant opening is delayed do to an incomplete business plan.

S2) Reframe Statement of Challenge

My business plan should be completed so that my restaurant can open.

Reformulate SOC into a “What would it take?” Statement

What would it take to open my restaurant?

S3) Scan for Solutions

My business plan will have to be complete in order for my restaurant to open.

S4) Redefine Solutions

1. Install a business plan software guide.

2. Partner with other restaurant owners for advise and guidance.

3. Hire a consultant to give final ok.

S5) Run Test Solutions (small scale)

Mid Cost:

• Use an existing business plan template to identify missing items.

• Interview others in the business (i.e. restaurant owners)

S6) Run Test Solution Large Scale

Utilize services of an experienced consultant who specializes in the industry.

S7) Implementation

Implement business plan!

S8) Post Review

• Effectiveness

• Improvements

• Costs

• What was learned that can be used in the future

Critical Path Method

Project at hand:

Creating a Menu

Steps I need to take

1. Determine menu items with executive chef (1 week)

2. Hire a graphic designer (1 month)

3. Choose style of menu layout from samples provided by designer (1 week)

4. Approve sample menu style (1 week)

5. Determine stationary to be used (1 week)

6. Order final menu layout (3 weeks)

CPM Charts: 13 weeks

1 week

1 week1 month

1 week

3 weeks

1 week

CPM Charts: 13 weeks

Select Menuitems

HireGraphicdesigner

ChooseStyle ofmenu

ApproveSample

menu

DetermineStationary

OrderFinalmenu

11 week project

Critical Path is hiring a graphic designer!

Evaluating Your Opportunities

Project Time

Max hoursImpact on firm

ROI $

Invest.Priority

Complete business plan

224hrs 100% 100% $20,000 1

Identify Location

6 months 100% 100% NYD 2

Higher head

Chef

6 months 100% 90% 0 3

Customize

Menu items

11 weeks 90% 75% $65,000 4

Theme and decorations

6 months 95% 80% NYD 5

THE END!!!!!!!!!!!!

Thank you !!!