Casimiro Jr.’s only child, Adela, was a concert pianist who gave regular 1

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Essential of Managementinfo_at_casestudyhelp.in9
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• Essential of Management
•  
• CASE STUDY (20 Marks)
• Casimiro Jr.s only child, Adela, was a
  concert pianist who gave regular piano
  performances at Columbia. Later, Adela married
  concert violinist, Cesar Gonzmart (Cesar). In the
  1950s, Casimiro Jr. brought Cesar into the
  business. Subsequently, Cesar and Adela became
  the third generation owners/operators. Adela and
  Cesar struggled to keep Columbia open during the
  1950s and 1960s. This was a period during which
  Ybor City deteriorated due to a decline in the
  cigar industry. The poor economic prospects of
  the city led to a subsequent fall in population
  as people moved away to the suburbs and to other
  cities. Over the years, Columbia restaurants were
  opened at several other new locations in Florida.

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• In 1983, a restaurant was opened in the
  historic district of St. Augustine, Florida. At
  Sand Key, on Clearwater Beach, Florida, another
  restaurant was opened in 1989. In the 1980s,
  Columbia also opened a few Caribbean the med bar
  and restaurants under the brand Cha Cha
  Coconuts. After the death of Cesar in 1992, both
  brothers began to manage the day to day
  operations at the restaurant. They then became
  the fourth generation owners/operators. However,
  it was not all smooth sailing for the business.
  After taking over the business, the brothers
  discovered that Columbia was under a large debt,
  something that had been concealed by Cesar. The
  debt had the potential to threaten the very
  existence of Columbia. Gonzmart said, Cesar
  would provide whatever numbers he wanted. None of
  the bankers believed it, but it was a different
  world, handshakes, etc. Instead of going in for
  an expansion, Columbia decided to invest in
  existing restaurants.

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• In 2001, a new building was constructed to
  house a five thousand square feet kitchen for the
  Ybor City restaurant at a cost of US 2 million.
  It was built in a parking lot/delivery area on
  the south side of the restaurant. The new kitchen
  had a unique waste disposal system, water
  recycling capability, and quick chill
  technologies, which were expected to minimize
  labor and utility cost, as well as theft and
  shrinkage. Some of the valuable lessons learnt by
  the HernandezGonzmart family to successfully run
  the business were to maintain the traditional
  style and atmosphere, to keep the menu fluid, and
  to cultivate a personalized management style.
  Though the HernandezGonzmart family tried hard to
  keep up to date, they knew that a major part of
  the restaurants appeal was its age.

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• Answer the following question.
•  
• Q1. Debate the succession strategy adopted by
  Columbia.
•  
• Q2. How the traditional style and atmosphere was
  maintained by the HernandezGonzmart family and
  why?
•  
• Q3. Debate the reasons for Columbia being under a
  large debt.
•  
• Q4. Discuss how the family business was sustained
  and revives.

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