Financial Management Hanft, Adam. (Oct Term Paper

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The lessons of Suarez's career seem especially apt for entrepreneurs in the hospitality industry, where consumer's tastes may be very fickle. Once upon a time, not so long ago, the idea of upscale Asian food, as opposed to take-out, would have been unthinkable. However, Suarez, despite his innovation and emphasis on the unique, is not averse to altering even his 'whatever' approach, given the demand for franchising upscale restaurants, as people everywhere want to sample a bit of elegance and luxury.

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According to the article, one day Suarez suddenly though: "Imagine if we had one formula.' Suarez recognizes that a standardized, scalable restaurant is more saleable than a collection of quirky, individualistic culinary marvels," hence his new idea of embarking into hotel chains as well as chains of his most popular restaurant Prime " (Hanft, 2003).. His willingness to constantly shatter his own old paradigms demonstrates why Suarez has sustained cranky restaurant reviewers and the upswings and downswings of a volatile industry......

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