Who would be the various "stakeholders" of your business?

The various stakeholders will be the owners/investors of the restaurant, the employees working in the restaurant, the vendors/suppliers of the restaurant, the customers who will come to dine at the restaurant.

What are some of the things you could do to benefit your community (through your new business) other than just providing jobs and tax revenue?

Some of the things which can be done to benefit the community will be:

1) Donations to non profit organizations who work for the betterment of the community.

2) Sponsorship of local events, such as healthcare camps, school events,etc.

3) Adhering to environmental standards and setting example for other businesses by adhering to environmental standards and becoming an environment friendly company.

4) Promoting healthy eating habits by choosing a healthy menu in the restaurant.

How would you establish good relationships with your suppliers?

Good relationships can be established with suppliers by being punctual in terms of their payments, rewarding them or praising them for their good performance, providing them suggestions to improve their products/services, helping them in difficult times, etc.

With your employees?

Relationships with employees can be established by providing them a healthy working atmosphere conducive for their personal growth, suitable remuneration and rewards package and recognition for superior performance, open communication and support from top management, etc. Employees will be provided challenging opportunities so that they feel motivated and become more loyal to the organization and become more satisfied with their employment.

Do you see any conflict between your desire to be as profitable as possible and your desire to pay people a living wage?

I do not see any real conflict between the desire to be profitable and desire to pay people a living wage because I fully understand that the key to success for any organization, especially a service oriented business like Restaurant, is to have an efficient, motivated and productive workforce. Thus, competitive pay structure is a must to achieve such a scenario. The gains achieved from cutting wages will only be short lived whereas making employees happy and satisfied is a long term investment which will be fruitful in the long run.