Managing a New Restaurant, Several Term Paper

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5. Top-level managers are likely to be more focused on management issues and communication with middle managers than on possible personal issues. Top managers are generally focused on the mechanics of effective management, as well as on financial matters. While they should also encourage open communication between themselves and workers, this will often happen via middle managers and focus on business and financial matters. This is particularly so in large and complex businesses.

6. A milestone chart refers to the goals of a company or person. These are generally medium- to long-term goals that are projected for a specific deadline. A to-do list is the short-term actions that will be taken to achieve the goals on the milestone chart. The milestone chart therefore focuses on ideas and ideals, while the to-do list focuses on the practical achievement of these. 7. A PERT network refers to the Program Evaluation and Review Technique often necessary to handle large and complex tasks.

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Such a network allows the user to plan the various activities needed in the most effective sequence for achieving the milestones identified. The network also allows for the addition or deletion of various activities as the job progresses. This facilitates the organization of the work and helps managers to keep pace with the necessary changes and activities.

8. A break-even analysis is meant to estimate the costs of establishing a business or activity. There is no projection relating to the possible income of the project. A decision tree, on the other hand, adds to the cost estimate projections of decisions and their possible outcomes for the business. The similarity between the two is that both include the estimate of initial costs, which can then….....

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