Every partner work on the benefits of company and not

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Every partner work on the benefits of company and not self-interested. During dissolution the partners has the right to withdraw from the company. Question 3 Production of any product is dictated by the law of supply and demand. Societies determine what companies will produce and in what quantities. The market operates on supply and demand answers. When the demand of a product is high, the company will produce large numbers of products. However, in L.A fast food businesses are high which increases the supply of the product. Thus, competition increases the supply of the product that exceeds the demands (Barrett & Weinstein, 2015). As a result, differentiation of the products and means of providing the services will increase the demand. In this case, the company will have differentiation of the products and service provision. Price is an incentive for both consumers and producers. When the price is high, it discourages consumption but it encourages production (supply). When the price is low, it encourages consumers but it discourages producers (demand). The required balance between the
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Max Fast Food Restaurant. 4 production and consumption sets the price of the product. In this case, the demand of fast food is high in L.A and the competition is high (Hatten, 2015). The price of the products is set by the big companies that dominates the market. To attract large consumers the company has to decide on lowering the price of the products a bit lower compared to the other companies. Question 4 The company’s strategic plan will define the direction, decisions, and allocation of resources. The strategic plan will include the competitive edge, marketing strategy, pricing strategy, marketing program, alliance, and forecasts. The company will adopt a strategic planning framework that consists of phases and the approach as follows. Analysis, strategic formulation, strategic execution, and evaluation (Barrett & Weinstein, 2015). The SWOT analysis will be crucial in formulating the plan. SWOT Analysis Strengths Differentiation of products The company will have a wide range of products to meet the cultural and tastes of the consumers Mobile services The company will introduce a mobile delivery service to consumers in their offices, homes, and schools. Partnership structure The business will be owned by two people where management will be in great order. Weaknesses A small business A small fast-food business faces various challenges before it develops and wins customers. Limited resources As a new business, the resources are minimal to execute major actions. Working with new employees The company will have challenges selling the business idea to all new employees Opportunities Technology The company have the chance of exploring new production methods through the
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Max Fast Food Restaurant. 5 growing technology.
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  • Spring '18
  • BURGER KING, Fast food restaurant

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