1. PROFESSOR LEN GREEN WEDNESDAY APPRENTICE TEAM 6 SIGMA Cubana Restaurant Group

2. Successful Entrepreneur ? Irrational risk-taker? Takes calculated risks. For example, Casimiro Hernando, Sr. moved to Ybor City with his family and entered into the hospitality sector. He had industry knowledge since he previously owned a bar in Havana. Passion to succeed but with caution Optimistic yet looking at the holistic view and the bigger picture to ensure correct decision-making. Setting unrealistic goals For example : Casimiro, Jr.  Expecting to get a loan of $35,000 at the onset of an economic depression and when his business was going through cash-flow troubles. The bank would never agree to give a loan of this magnitude without any kind of financial stability.  Venturing into a new market (Air- conditioned dining rooms) that didn’t already exist at the time when the business was not doing well. Passion to succeed Where is the defining line between a…

3. Make the Pie Bigger Since the third and fourth sons were Cubana’s suppliers, they should be merged with Cubana Restaurant.  Such a merger would lead to synergies in the supply chain and contribute to the overall size of the company. Higher profits would be earned, as they would not be negotiating with each other for better prices but working together as one company.  When they merge, their stock size should be equal amongst all the brothers, keeping in mind the Cuban culture and equality of the brothers in the share of the father’s business.  When the second brother was to enter into the business in the 1940’s, he would be presented with the same share of the company that all the other brothers agreed to. Wife should have been a passive decision maker behind-the-scenes  Different perspective  Emotional side- knows her husband well as a person apart from being a businessman  If the case was based in the 21 st century, she would definitely be an acting member of the business.

4. Looking Ahead Succession planning  Casimiro, Jr. should start to think about who will take care of the business after him by observing which of his children are genuinely interested in entering the business world, and more particularly, his company.  It is essential that he brings in the children ONLY if they are willing.  A good time to begin thinking about this would be during a growth phase of the business, as this is the time that he would require more people to share the responsibilities.  All children should be given an equal chance to make a choice; the most responsibility should not be forced on the eldest son. If the children who are more passionate about the business join rather than just the eldest son (keeping in line with Cuban tradition), Cubana has a higher chance of success.