Individual Assignment of BUS 203 ¡V Exploring SMEs
Introduction
The aim of this assignment is to identify an issue or problem situation in a named organization they have access to and the chosen organization¡¦s name is ¡¥Shea Wong Biu Restaurant¡¦ has been established in the year 1982. A brief history background about the owner ¡¥Li¡¦ as the following:
Li¡¦s originated career was in the 60¡¦s as a worker of mechanic. Then at the year 1972 he has begins his lifetime career in food industry. After 10years of experiencing, he had his very first SME established - ¡¥Shea Wong Biu Restaurant¡¦ in a sole trader business, an old fashion but high quality company. Since he has inflexible determination in quality and uniqueness, the voice-over has been increasing rapidly. He is more then a chief as he could fit in all types of duty in the company. No credit history from bank when they first launched the company as their very first capital was from Li and borrowed from relatives. After a period of 3years time, he has managed to expand the size of the restaurant in double. Then within the next 2years, another two branches were launched both without the need of borrowing money from bank.
2. Literature review on concepts to strengthen my findings and analysis when answer the following questions:
2.1 Describe and evaluate the organization¡¦s strategic management
A Strategic plan for 2005:
1. A clear vision and translate it into a meaningful mission statement.
Li¡¦s visions for the restaurant are committed to unique, quality, service and cleanliness. The purpose is to focus customer¡¦s attention and efforts on the same target, provide nice food to satisfy customer¡¦s wants.
2. The com ...