MNM3709 Assignment 3
(ANSWERS) Semester 2 2023 -
DISTINCTION GUARANTEED
, GRADED A+ DISTINCTION
GUARANTEED
(ANSWERS) Semester 2 2023 -
DISTINCTION GUARANTEED
, GRADED A+ DISTINCTION
GUARANTEED
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Mnm3709 Assignment 3 (Answers) Semester 2 2023 - Distinction Guaranteed
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MNM3709 Assignment 3 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED GRADED A+ DISTINCTION GUARANTEED QUESTION 1 Read the Ocean Basket case study in Business Cases: From SA Companies (Niewenhuizen, 2020:159- 164) and conduct research on the company and the South African restaurant industry. Advise the marketing manager of Ocean Basket on the nine cost drivers that can affect the costs of their organisation. (No marks will be allocated for theoretical explanations. Two marks will be allocated for application of each valid point per cost driver; the maximum points per cost driver are 2 marks). CASE STUDY: Ocean Basket Cost drivers and practical application 2. Labor Costs:. Ocean Basket can control labor costs by optimizing staffing levels, implementing efficient scheduling systems, and providing training to improve productivity. For example, they can analyze peak hours and adjust staff accordingly to avoid overstaffing or understaffing 3. Raw Material Costs: Ocean Basket can manage raw material costs by establishing strong relationships with suppliers, negotiating favorable contracts, and monitoring market prices. They can also explore alternative sourcing options or consider bulk purchasing to achieve cost savings. 3.Energy Costs: Ocean Basket can reduce energy costs by implementing energy-efficient practices such as using LED lighting,
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