Debt and Miguel Essay

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Topic 3 Deliverables – Challenge the Process, Enable Others to Act, & Encourage the Heart
Challenge the Process – La Cocina Case Analysis
Case Title:
La Cocina_Case
Instructions: Please answer the following questions from the protagonist’s point of view.
1. Purpose: What is the primary objective in analyzing this case?
a. Help Miguel to decide whether he should quit his salary job and open his own restaurant or just keep his current salary job.
2. Question at Issue: List the primary problem in the case.
a. Is Miguel going to make more money if he quit his current salary job and start his own restaurant? However Miguel knows that he won’t be making much more than that in 30 years if he stays in that position.
3. Concepts: List at least 3 principles, concepts, or theories from class which help us solve this problem and apply them to this case. To receive credit, please bold and underline the principle, concept, or theory and indicate the source (e.g., critical thinking, slide 4).
a. Encourage the Heart (Leadership Challenge, pgs. 271-328) - Supposing that his own restaurant successful, Miguel should recognize the profit he would bring to his family. And he can use those money to improve his family’s lives type.
b. Challenge the Process (Leadership Challenge, pgs. 155-212) - Miguel knows that there are lots of fixed cost to start his own business. And that’s why he should think about bank loan even though Miguel was not a fan of debt. But he still need to challenge the process. To make more money he should take some risks at the beginning.
c. “It ain’t so much the things you don’t know that get you in trouble. It’s the things you know that just ain’t so.” (Critical thinking slide 4). – Miguel maybe thinks that he knew the profit he could make if he open his own restaurant based on the restaurant he’s working at. But he still need to do analyze to determine if he should open his own restaurant or not.
4. Assumptions: What assumptions does the protagonist have to make and how are those assumptions important to the primary problem? (Number your assumptions for credit)
a) Miguel has to assume that bank will give him the loan he needs.
b) Miguel has to assume that the population in his town changes 8.4% increase per year
c) Miguel has to assume that the percentage of Nachos and Burritos are going to be same in his town compare to Trenton in 2012
5. Points of View: What stakeholder points of view should be considered in analyzing this problem and why?
a) Miguel and his family – Once Miguel start his own business, maybe he can make more money than before and their lives style will be improved. But they also know that there are some risks when Miguel open his own restaurant.
b) The owner of the restaurant Miguel is working now – If Miguel quit his job to open his own restaurant, he is going to lose a good chef in his restaurant and also he is going to lose some customer who buy food from Miguel’s new restaurant.
c) People live in Miguel’s town – They can have a quick-casual Mexican restaurant in their town. Also they will have more choices to pick which Mexican restaurant they want to go.
6. Interpretations & Inference: Describe a solution to solve the problem you identified in the case. (Tip: “Change the compensation plan” would be insufficient due to lack of precision if it doesn’t include a description of what changes should be made or what type of compensation plan should be adopted.)
If Miguel thinks about short term investment which is 7 years, I think that he should not open his own restaurant. If he
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