HOW TO DEVELOP THE ESTREN FOOD IN THE UK Assignment

HOW TO DEVELOP THE ESTREN FOOD IN THE UK - Assignment Example 2012). Also the skills related to its job position should be set, so that hiring for these positions to be developed with no delay (Gilmore and Williams 2012). The HRM issues of the restaurant are analyzed further in section 2 of this paper. Another organizational sector that should be carefully reviewed in advance is accounting. Chapman et al. (2011) notes that in all firms accounting can result to important challenges mostly because of the following facts: a) it is difficult for managers to choose in advance the accounting strategy on which the business operations will be based; for example, emphasis will be give on re-investing profits or using profits for covering operational costs, so that the borrowing is fully avoided (Chapman et al. 2011, p.709), b) the level of profitability of a business and the market performance cannot be predicted in advance, a fact that it is quite common in new businesses; in this context, Eastern foods should not adopt a strict accounting strategy but rather short-term accounting plans should be applied, so that alterations and replacements are feasible in case of market changes or low profits. At the same time, Al-Hakim (2007) explains that managers in new businesses should emphasize on the introduction of effective knowledge management systems. These systems can secure high speed and accuracy in regard to the knowledge transferred; under these terms the success of a firm’s accounting system is guaranteed (Al-Hakim 2007). In addition, managers in Eastern Foods have to face a series of operational issues, such as: a) would the operational framework of the business be the same as in the mother company, in India? B) Should innovative practices be introduced in order for the restaurant’s operations to be more aligned to the Western culture (Barnes 2008)? c) Which will be the exact form of the firm’s