Question

After having spent 15 years working for a large Canadian grocery store as a store manager in Edmonton, you have decided to pursue your lifelong dream of opening your own business with your best friend from high school, who lives and works in the restaurant business in Whitehorse, YT. You will open a vegan food truck that sells only organic and vegan dishes. You have the opportunity to apply for seed funding through a local government initiative but you must first complete a 1-2 page elevator speech that addresses the following questions: What ethical concerns should you consider in the establishment of your business? What form of business ownership do you propose and why? Why do you feel you have what it takes to be successful entrepreneurs?

Answer 1

I always had a dream to start a vegan restaurant and thus I am looking to get it financed from Whitehorse government in my city. As I have already the experience of managing the grocery store for 15 years in Edmonton, I have proposed this plan to start a vegan restaurant to one of my best friends who is a very good and expert cook. In a vegan restaurant, no meat and animal products will be offered and this kind of restaurants are very rare in Canada.

A number of ethical issues must be required to be discussed here while operating and running this sort of business. It is very important for any business owner to consider the wide variety of ethical issues and thus as an owner of the restaurant I will focus both on the customers and also to the organization in order to frame the strong ethical policies.

In order to do this, I will, first of all, get all the business licenses and the food and safety licenses. This is the fundamental ethical requirement in order to conduct any business. This will make sure that all the required safety measures for the customers are taken by my business. A great deal of care will also be given while selecting the employees for the business. It is a well-known facts that employees serve as the ambassador both inside and outside the organization. In fact, any unethical employee can create a lot of issues for the business along with the number of legal problems. We will also focus on honesty and integrity while operating the business.

There are mainly four types of business strategies which can be followed and these are Sole Proprietor, Partnership, Corporation, and Cooperatives. As I am planning to begin the restaurant with my friend, this I am planning to have the partnership firm. All the investment risks, business management, and decision making will be distributed between us. We both have agreement on sharing the responsibilities and addressing the business expenses.

We have this feeling that our business is going to be successful as we have a very strong motivation to be successful. We are quite dedicated to offering good quality of services and this is going to be our success mantra. We both are very strong individuals and keen to have close relationships with others who will be coming in contact during the business operations.

KINDLY RATE THE ANSWER AS THUMBS UP. THANKS A LOT