BUS-Z 302 Lecture 3Outline of Last Lecture I. Steak n’ ShakeII. Syllabus QuizOutline of Current Lecture I. Steak n’ ShakeCurrent Lecture-KLEAD sign-up will be sent out on Thursday at 5:00- Steak n' ShakeoMaking the Business Case-The humanistic case or the legal caseBoth are important and compelling but in a business school, we need a business case-Is this the way to win and be effective?Aka what the business case isIs it effective business?oSteak n' Shake restaurants recently completed an in-depth study comparing their stores that rank in the top quartile in sales and profitability and those that rank in the bottom quartile-What factors were consistently NOT different across stores?Location: close to highways, near other fast food restaurants, may be all over the US but in very similar locations-Possible DifferencesCustomer satisfaction/loyaltyEmployee turnover-Turnover rate was 250% meaning that someone new was doing the job every four or so monthsReputation-Cleanliness, how fast they are getting food out, etc.-But getting faster through the line could cut down on qualityScheduling-What consistent predictors or indicators of high financial performance did they find?These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.-There is a very big difference between profitability of the highest profit stores and the lowest profit
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