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You Are Considering Opening Your Own Hamburger Restaurant

question 128

Essay

You are considering opening your own hamburger restaurant.List the information that will influence your decision about whether to start your own restaurant or go with a franchise.


Definitions:

Value Chain Management

The process of managing activities involved in the production of goods and services, from raw materials to the delivery to the end consumer, to maximize value and efficiency.

Strategic Management

The method of creating, executing, and assessing interdisciplinary decisions that help an organization fulfill its goals.

Just-in-time Scheduling

A production strategy that reduces inventory costs by receiving goods only as they are needed for the production process.

Economic Order Quantity

Is a model used in inventory management to determine the optimal order size that minimizes the total holding costs and ordering costs.

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