Interview with a Business Owner



Interview with a Business Owner

We took an interview with MI LEE, in order to discuss her views about her business. She is running a small food business with a name of America's Best Wing. We discussed in detail about the nature of the business and the issues that her business faces.

She said that she has been running this business for four years now and specialize in Wing, Sub and Seafood. With time, the performance of the business has been improving, however; the business has to face several challenges with time. According to the Owner, The risk for potential new entrants is increasing in the foodservice industry; it is to a certain extent feeble as the threat of the new entrant is tough to set up a sequence of series of the food service providers which will assist as numerous worldwide locations. This has a critical value as the competition may become fierce. The impact of the internal and external environment can hardly be overestimated. The internal and external environments pose a different set of challenges to the business (Schlosser, 2001).

The impact of government regulations, social pressures, demographics and the attitudes of all stakeholders in the external environment may become factors that may make or break the business. Buyers acts as competitive threats when they are in a position to demand lower prices or better service. Conversely, when buyers are weak like in case of the food service industry, a company can raise its prices and declare higher profits. The bargaining power of buyers within the food service industry is considered as extraordinarily strong.

On the whole, there are many further food service providers to select from as the structure of the market is very much competitive. In addition, purchasers encompass no inducement selected trustworthy buyer. External ...