Problem-solving - What are Your Biggest Concerns Running a Bakery
- 02:19
Investment Banking Superday interview problem-solving question - As CEO what are your biggest concerns running a bakery.
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You are the CEO of a bakery. And what I'm gonna be asking you is a little bit to do with the forecasting and things that might concern you or to consider if you ran a company. So we are using a bakery just to keep it simple. So let me begin. You are the CEO of a bakery in the UK. Yeah. What would be your biggest concerns if you were running the business? It could be to do with the market or it could be to do with the internal operations, but any thoughts about how you feel about it today? Okay, so in terms of the market, I would look at, from a kind of broad point of view, I'd look at the macro environment. obviously a bakery perhaps, I'd probably disagree, determine as non-discretionary. No, it's discretionary spending, sorry. So, for consumers, I think that this probably wouldn't be on the priority of their, of their spending. Perhaps if we are in a macro environment where like the, in for instance now where there's a cost of living crisis, I'd look at that in terms of accessing and having recurring revenuesfrom customers being in the shop. I'd also look at costs as well. So, my access to my materials my ingredients. And then also on top of that, I'd look at actually my shop. So, do I own the property? Is the property being, is it mortgaged? How will interest rates affect my repayments there? So yeah, so from that point of view, I'd then also look at, in terms of the market, in terms of competitors. So what, what is our niche? What is our space in the market? What is our USP as as? Why customers would, would, would come to us. And then I would also look at going back to my costs. I look at, staffing costs. I've touched upon the rental costs, but also energy costs. What else could, could, could I look at I think that's a good answer.