MGMT20144 Management And Business Context Essay.

Esteria will be one of the start-up brand names in the sector of fast food and beverages. As the business entity will be a start-up it will have limited number of outlets in the selected and main regions of Australia, such as Sydney, Melbourne, Perth and Gold Coast. The business organization will be a small scale restaurant. But as the fast food and restaurant business is attaining a great scope in terms of profitability and growth. This can become one of the reason for Esteria in gaining high popularity amongst the regions in which the business will be operated. Due to the intensification in the competitive environment, the business entity will have to develop a diversified range of products, that the menu of the outlets should be listed with some unique recipes and dishes which should be able to attract a large number of customers (Ventureharbour 2017). Esteria should adopt develop the menus by making categories for different age groups such as healthy recipes for the age group of 8-18 and above 45, Junk food for teenagers etc. The business corporation can make adoption of the contemporary strategy that is “Viral marketing and growth hacking: Building marketing into the product”.  This strategy will be aiding the business entity in a number of aspects such as this type of strategy will incur the minimum cost to the business entity and will also serve with a fast growth rate (Berg, 2010).

Becoming one of the leading brand names in the sector of fast food and beverages by offering the consumers the best quality of food products and services that too with a high hygiene level and taste. The above-presented statement is the vision statement of the business entity and this should be attained by the firm in an ethical manner (Untaru & Ispas, 2013). Becoming a premium brand name does not mean selling expensive products but it means being the best in terms of offering and serving the best quality to the customers, value and desired success and growth.

The products are the dishes and the beverages served and for maintaining and operating all the operations and functionalities the business entity will have to follow a specific kind of organizational structure (Business Victoria 2016). Organizational structure is a combination of all the explicit and implicit policies and practices which are so developed and designed that they are able in defining the roles and responsibilities of the individuals within the business organization (Scarborough, 2015), a Functional organizational structure can be considered as the best suited for Esteria. This organizational structure develops divisions and categories for all the divisions and the departments within the business organization (Chen and Perez, 2015). And this is done on the basis of the functions and the operations performed by the departments. The below presented is the structural format of Esteria:

The business corporation may come across in a number of internal and external forces which may stimulate the business operations and also the success and growth of the business entity. And the same case can be with Esteria (De Kluyer, 2010). There are some internal and external forces which can affect the business entity in the regions of Australia. For instance, the external factors include political, economic, technological, social and environmental. Political force is one of the factors which may affect the business of Esteria in Australia, so for smooth flow of operations, the entity should adhere all the rules and norms which are being levied by the governing authorities in Australia (Sanders, 2016). According to the health and hygiene policies, the entity will be able to launch and introduce which healthy and nutritious. There are some economic factors such as economic stability of the nation and unemployment rate, these are the factors which may stimulate the growth and success of the firm. As the world is growing the consumer's behavior is also changing such as they are tilted towards health and fitness (Fleisher & Bensoussan, 2015). This will surely impact the sales of the business entity. Apart from these, there are some internal forces which are also held liable for stimulating the business of Esteria in Australia. The internal forces are corporate management, internal work pressure, and the workforce. In starting by lowering the salaries the entity may bring an increase in the employee turnover. The effective corporate market will stimulate the operations positively and will also aid a smooth flow of functionalities within the organizational structure (Hahn & Powers. 2010).

As the business entity will be attaining a number of benefits and advantages from the above presented internal and external factors, there will be some risks and challenges which will face by the firm (Hill, Jones & Schilling, 2014). These risks may come across as barriers in the path of success and growth of Esteria. One of the major risk which can be faced by the business entity is diversity in the workforce. As the business entity will be operating in different regions of Australia the entity will have to provide training sessions to the diverse workforce specifically (Riordan, Vandenberg & Richardson, 2005). This will incur the entity a high amount and these sessions will be time-consuming. Moreover, the changing preferences of the consumers may also rise as a risk (Hill, 2015). The consumers are becoming more health conscious and they will prefer to consume healthy food products rather than fast food.

For dealing with the above-described risks Esteria will have to make adoption of a number of practices and strategies. This will bring advancements and developments in the organizational performance and productivity (Kew & Stredwick, 2017). The human resource plays the most vital role in influencing the growth and success of the entity and hence should be well managed. Motivation should be provided to the workforce on regular basis and which aid the entity in managing the employees and this can be done by the engagement of the managerial staff in the routine practices. This will bring an increase in the dedication level and will also give them a push to work with zeal and enthusiasm. This all will lead to an increase in the productivity performance level (Lam and Harker, 2015).

All the above practices will enable the workforce to enhance the quality of the services by understanding the needs and requirements of the consumers (Price, 2007). And this in turn will assist in preparing the food items as per the demands f the consumers. Effective rewards and monetary bonus will be offered to the individuals on the basis of their performance. This business practice will affect the business operations and performance of the individuals and also of the organization (Lee, Hallak, and Sardeshmukh, 2016). A variable pay will generate a high level of motivation amongst the employees and will tend them to work harder resulting in an increased productivity.

For performing the business operations and functionalities a categorization is required to be developed which should be based on the marketing, human resource, finance etc. The above demonstrated organizational structure is providing a detailed knowledge of the all the departments of Esteria (Needle, 2010). For instance, operations department comprise of production, purchase, a supply of raw materials etc. The individuals engaged in the operational activities will be concentrating on advancing back-office operations and related processes. Marketing is another most empirical business operation which plays an empirical role in the organization. Promoting and advertising will aid the entity in generating awareness about the products and the services of Esteria (Posthuma et al., 2013). The marketing activities involve market research and developing an understanding of the consumers’ needs and preferences. The human resource also plays a significant role in managing the operations and functions of the organization. Esteria is also required to develop a budget which will provide the estimation of all the expenses incurred. A budget will assist employees to develop strategies and this will also provide direction to the efforts of the employees (Okpara, 2007).

In the limelight of the above-executed analysis, it has been inferred that a start-up should make implementation and adoption of the strategies and plans in an effective manner so as to drive the high level of productivity and profitability. The business activities should be adhered as per the rules and regulations of the governing authorities so as to maintain a smooth flow of business operations and practices. The business will be facing a number of risks and challenges which should be tackled by the adoption of appropriate strategies and plans.  

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