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Importance of mathematics in business
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Math is an
essential asset in the business world. Without mathematics businesses
wouldn’t be able to operate effectively. In order to run a restaurant math plays
an important role in a lot of different areas. For instance the items on the menu
may change due to the way it sells. Bookkeeping and math allow you to both
figures out what items are profitable and what items are selling. The business
world revolves around math, from profit and loss statements, to graphs, to
taxes. Everything in business requires mathematics. Owning a restaurant is no
different then any other field of business when it comes to math. The simplest
things in a restaurant could not happen without math such as paying for your
meal. Math is used to add up the total cost of a person’s bill as well as adding
in the sales tax. More advanced math is used in the restaurant business as
well. Using equations to determine what your business can afford to buy as
well as the difference in the cost of the product and the profit it turns over is all
determined by math. Jobs you might not even think require math do, such as
portioning products or prepping food. When you are preparing food you need
to measure amounts of ingredients and measurements are a form of
mathematics. Wheatley-2 Keeping your books up to date requires math as
well. When keeping records of your restaurant’s sales you can keep track of
your busy periods to know when you are required to order more food or
alcohol. Equations are ...
Chipotle Mexican Grill originated in Denver, Colorado in 1993. In 1998, McDonald’s became the majority shareholder; however, in 2006, McDonald’s divested its controlling interest. Chipotle became a public company listed on the New York Stock Exchange in 2006. It currently has 1,083 locations across the United States and Canada. In May 2010, Chipotle expanded into Europe, opening their first restaurant in the United Kingdom. (Form 10-K Chipotle Mexican Grill, Inc., 2011)
Their ability to encourage healthy eating, decrease service wait time and increase customer appreciation is the reason their sales has increase year after year. Once a small one-unit operation in Denver has now grown to a billion-dollar corporation. Chipotle food maximizes on quality and customers understand that quality comes with a price. For such a very limited menu, Chipotle cost more than most of their competitors operating in the same sector but it’s not unreasonable.
Demographically Chipotle focuses the majority of its sales on individuals between 18 and 24 years old which is the same as Taco Bell (Hitt, Ireland, & Hoskisson, 2013). This could potentially be correlated to the on the go, fast paced life styles that is typical for this age demographic. Chipotle offers a customizable menu that that appeals to the young adult that is constantly on the move and have a tighter budget. Chipotle’s marketing strategies appeal to the young adult through their social media platform campaigns that gain the attention of the young adult. Millennials have had a large influence on the growth of the company that has locations “located at various location types such as end of row shops, shops
When Chipotle first opened in 1993, the goal was to serve quality food fast, but not be considered “fast food.” To avoid falling under the fast food stigma, Chipotle strives to find the best ingredients with respect to animals, farmers, and the environment. In order to achieve these goals, Chipotle has created a matrix organizational structure that is divisional by location and functional by authority. Chipotle recently expanded internationally to the United Kingdom, Germany, and France, each following strict guidelines assigned by corporate employees from their headquarters in Denver, Colorado. Similarly, each location is functionally organized according to authority: regional manager, district manager, store manager, assistant manager, and
Chipotle has grown to become a leader in the fast food arena. According to Our Company,
Chipotle Mexican grill has transformed the way people think about fast-food through delivering exceptional Mexican dining experiences to its guests and providing a simple menu of organic ingredients, quick service and at a low cost. More than just a great experience, they have created a lifestyle where people have the pleasure of eating good and healthy.
Due to a recent outbreak of E. coli throughout Chipotle’s Mexican Grill stores, sales are plummeting as much as 25 percent (Choi, 2015). Illness expanded over nine states with 52 reported illness and decreased sales Chipotle a resolution to rebrand their image to attract customers and boost sales in 2016.
“...blood will have blood...”, Macbeth is a well known book written by Shakespeare. In it, a once loyal soldier to the king of Scotland starts to seek a way for him to get the crown for himself. In Macbeth, William Shakespeare uses the imagery of blood to represent the guilt of Lady Macbeth and Macbeth, demonstrating the feeling of guilt has consequences of severe punishments.
As of 2016 there were 2,250 Chipotle restaurants worldwide. (Number of Chipotle Mexican Grill locations worldwide 2007-2016, 2017) Another interesting fact about Chipotle, is that in 1998 McDonald’s started investing in shares of Chipotle and by 2001 they had become the majority shareholder. In total McDonald’s invested over $360 million into Chipotle. (Myers, 2014) Although they have since split ways, the investment McDonald’s made into Chipotle helped to boost the growing power of the new to market concept burrito
Differentiation through distribution, including distribution via mail order or through internet shopping. For example u can buy Monster from Amazon.com.
This paper explores the business strategies Chipotle is using for operations. Analyzing financial and operations data to discuss areas of concern as well as areas where Chipotle Mexican Grill is doing well. Discussions will include the importance of Chipotle’s menu preparation strategy and menu integrity. The marketing strategies Chipotle is using to increase operations and strategies used to compete against rivals in the competitive environment. Concluding with an overall evaluation of Chipotle’s business portfolio.
From a P&L standpoint, a dollar saved in vendor cost is reflected as a dollar increase in profit (and cash on hand) where as a dollar increase in sales is only marginally reflected in profit once you subtract operating cost:
In Mary Shelley’s romantic novel Frankenstein Or The Modern Prometheus, she conveys many of the themes of the romantic period such as the romantic view of nature. Her novel follows the life of Victor Frankenstein as he develops an interest in natural physiology which gives him the inspiration to create the monster. The monsters creation affects many of the characters, and creates misery and grave consequences. Throughout Shelley’s novel many of the character’s ignorance, foolishness, or overconfidence blinds them from the harsh reality of the world.
money spent on gas traveling to a new restaurant or take-out place for each meal. The
Running a restaurant can be one of the most stressful jobs as well as the most fun and rewarding jobs. If the manager is a good leader with excellent leadership skills and has great followers the restaurant will be rewarded. If not the restaurant will plummet in sales and no one will be pleased. While developing a business. staff is important to running a successful restaurant, it is also essential that management focus on its public relations as well as its sales and marketing strategies.