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Business Planning and Strategic Implementation Simulation

This simulation offers a hands-on approach to develop a robust business plan for a new restaurant startup. Utilizing the restaurant as a metaphor, participants will engage in ideation, strategic management, and innovation concepts while integrating essential business functions. The program covers everything from marketing, budgets, and human resource management to operations and competitive analysis. Participants will also create a signature dish, preparing for a pitch to investors, and conduct taste tests, culminating in a comprehensive presentation of their business plan.

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Business Planning and Strategic Implementation Simulation

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  1. Business Planning and Strategic Implementation Simulation New Restaurant Start-Up

  2. Business Plan Simulation • Restaurant-as-metaphor for any product, service or industry • Point of Application • Strategic Management concepts • New Product Development and Innovation concepts • Business Plan Development and Presentation • Integration of Business Functions and Processes • Marketing • Budgets & Accounting • Human resource management • Operations, purchasing, logistics • Teamwork and leadership • Competitive analysis and strategy • Business communication

  3. New Restaurant Start-up • Develop business plan • Ideation, strategy development, budgets • See new restaurant business planPPoint template • See new restaurant budget Excel template • Shop for, cook and serve signature dish • Four servings: One for presentation, three for buffet • Trial run at your home or apartment? • Pitch new restaurant business plan to “investors” • Oral presentation of business plan (20 minutes each) • Test-taste “signature dish” during lunch

  4. Lexington’s Restaurant Market

  5. Menu • Comprehensive enough to support your concept • Appetizers • Salads • Entrees • Desserts • Beverages

  6. Signature Dish • Design one dish that exemplifies your concept

  7. Signature Dish • Anything goes, but…

  8. Staffing Plan • Wait staff • Kitchen staff

  9. Kitchen Operations • Cooking Team

  10. Cooking Techniques & Equipment

  11. Cooking Techniques & Equipment

  12. Location Us Dudley’s Merrick Inn

  13. Physical Environment and Ambiance • Floor plan • Décor • Table aesthetics • Staff appearance

  14. Simulation Schedule Now Simulation Overview Q&A Tuesday, FEB 23(before and after class) Spot-check: Concept, menu, signature dish, cooking time, etc. Sunday, FEB 28 (1:00-2:30 p.m.) New Restaurant Business Plan and Tasting Competition

  15. …take a closer look…

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