Please upload the memo under the assignment tab, Final Exam, in TEAMS.
READ the scenario below carefully. You are to complete the task ALONE. You cannot
discuss the problem with your classmates or anyone else.
You are one of three (3) partners at a restaurant called Liquid Dinner. The main idea behind
your establishment is that people can live on alcohol alone. At your restaurant, everything is
liquid and alcohol filled except for some nuts and light solid appetizers. While the theory of
Liquid Dinner sounds great when you present your concept, people often leave your
restaurant to find heavier meals as they get drunk too quickly without the proper
sustenance. You lose many patrons because they do not return after leaving for meals. You
and your partners decide to expand your menu to include heavy meals – alcohol infused of
course. To add heavy meals to your menu, you need another $300,000 for new cooking
equipment, a better chef and supplies among other things. You have no credit left. You and
your other two partners invested every cent that you, your mothers, your grandmothers,
your uncles, aunts and your chihuahuas owned. You have decided to take on a new partner
to meet your new expenses.
One of your partners suggested an old college friend as your new partner and your other
partner excitedly agreed with the suggestion. You are a little skeptical about this new
investor because you remember him as a very irresponsible student in college. Furthermore,
he recently married his third wife after a very ugly and public second divorce. You worry
that he will not pull his weight as a partner and that his very public life may affect the
reputation of your restaurant. Your partners begged you to give him a chance, so you agreed
to meet him to go over the financial status of the restaurant and the proposed partnership
On the day of the meeting, you presented him with a hard copy of the financials of your
business and the proposed partnership agreement as you sat down to talk about the benefits
and responsibilities of partnership. He made paper jets with your printed spreadsheets and
posted stats on the Cowboys game on Instagram throughout your presentation. When you
looked at his Instagram page after the meeting, you could clearly see parts of the partnership
agreement under his coffee cup with coffee rings all over the paper. He openly admitted that
he did not read the digital copy of the financials you sent him 3 days before the meeting. He
stopped you in the middle of the presentation to shout TOUCHDOWN!!!! He had no questions
after the presentation and started a conversation about his date with his ex-wife’s best
friend. Your partners are charmed by all this and laughed through his stunts, but you are not.
When you tried to redirect his attention to the meeting, he ignored your cues and instead
complained that his father-in-law is interfering with his marriage and the decisions that he
and his wife make as a couple — because his father-in-law gave him the down payment for
his new house. To make matters worse, after the meeting you overheard him on the phone
while he was in the bathroom asking his wife if she thinks that his father-in-law would give
him the funds he needed to invest in Liquid Dinner. This was the last straw.
Write a memo, no less than two – pages, to your two partners to inform them that
you will not approve your friend’s bid for partnership.
Please make up names and addresses as you need to.