Final answer:
Critical resources for executing a business model like Firehouse Subs include quality inventory, a skilled workforce, effective marketing, and the necessary equipment and technology. Management of supply chains and strategic planning around the resources are vital for business continuity and success. Understanding consumer information, resource mobility, and competition in the market is essential.
Step-by-step explanation:
When assessing the critical resources needed to execute a business model for Firehouse Subs, it's essential to consider the goods and services that are required for the operation. This includes high-quality ingredients for the menu items, trained personnel to prepare and serve food, customer service, and marketing to attract and retain customers. It is also important to factor in the cost of utilities, equipment, technology for efficient operations, and the real estate for establishing physical restaurant locations.
In terms of personal experience, obtaining resources such as these can be challenging, especially when supply chain issues occur that may cause these resources to deplete suddenly. Businesses need to have strategies in place to manage and mitigate these risks. Thinking through the 5 W's (Who is involved, What you want to accomplish, Where you need to go, When it must be accomplished by, and Why you are wanting to do it) is an effective way to make your goals more specific and actionable.It is also crucial to understand why proper information for consumers is key, the causes of resource immobility, and the role of competition in a free market for a business model's success. These factors directly impact a business's ability to operate efficiently and profitably within the marketplace.