Reference no: EM132979429

Question 1 - Budgeting: What is Budgeting? Please explain the benefit and the difficulty that is experienced in the budgeting of any company (Please choose a real company so I can understand how budgeting is applied in real-life situations).

Question 2 - Performance Reports: the textbook authors list many qualitative factors that are important for managers to be aware of in appraising performance. What do you believe is the most important qualitative element of performance appraisal and why do you believe this? Please explain three qualitative elements related to performance appraisal.

Question 3 - Applying the Decision-Making Model: Currently Chipotle runs all of it stores as company-owned stores meaning that all the managers and employees are employees of Chipotle and not employees of franchisee operators. Chipotle leases all of it restaurant locations so it does not technically own the real estate. If Chipotle decides to "sell-off" its existing company-operated stores (something that Wendy's has just completed) to franchisees Chipotle would get a large upfront franchise fee, monthly royalties from monthly sales, and monthly markup fees from the sale of supplies and food to the franchisees. Looking at Step 5 of the decision model "Assess the Qualitative Factors", what is an important qualitative factor that would be important if Chipotle moved to allow franchising of its restaurants? Please explain at least three qualitative benefits and three qualitative detriments.