2. What opportunities and challenges does it identify for us?
3. What changes in goals, strategies, policies, practices, and structure might it point to?
4. What connections can I make to theory / other readings?
1. The impugned article is very encouraging to me since I am an executive as well as to my management team and my company. It gives us an insight into incredible management techniques which enable a business to survive as well as reach top levels in the present times. This goal can be achieved only with the help of an able leader. It makes it evident that an able leader has the potential to turn the tables for an organization. It teaches us that even in hard phases of business if we keep our goals set and make able decisions we may get over such situations. In unfavourable circumstances also an able leader keeps calm and makes such decisions which would help the organization to excel.
2. The impugned article identifies the following challenges to us:
In order to make a business last we must endeavour to make changes to it with the changing times and needs. If we stay aloof of the changing requirements of the society the business would not be able to survive. Other challenges include, managing funds, making products more and more appealing to the consumers.
The opportunities which may be identified from the said reading are as follows:
Franchisee based restaurants are ideal as they provide for steady cash flow and comparatively low capital investment. Providing to the customers a distinct brand which offers good food at affordable prices.
3. The impugned article sets an example for other business organizations which are undergoing a hard phase. The reading gives us an insight into the changes in policies and procedures one must adopt so as to strive in business.
We must first set up an ambition and a roadmap. Once the roadmap is set the management team ought to figure out whom they would serve. Popeye had chosen the franchise owners as its first priority. Then the interest of the customers and the employees were taken care of. It was the belief of Bachelder that one must love the people they lead. Thus franchise satisfaction was one of the foremost goals of Popeye. The next goal of Popeye was to expand the business by opening up more and more restaurants so that the importance of Popeye is felt everywhere. They also aimed at having maximum number of delighted customers and employees.
4. The connections which we may draw between the said reading and theory are as follows:
With proper managerial skills a business can be managed effectively and may also be made to reach heights of success. The success of a business is totally dependent on the leadership capabilities of the individuals occupying managerial positions. The theory of servant leadership has to be adopted by the leaders to achieve success like the Popeye. Servant leaders are the ones who serve others and not themselves. The foremost quality of a servant leader is to listen whereas generally leaders are into putting forth their views. They possess empathy for the co workers and the subordinates as well.