News and Events
Pepperdine MBA's Restaurant Recession-Proofing Paper Wins Competition
L to R: Livingstone, Ferasat, Hall, Jr.
Kasra Ferasat, a fully employed MBA program student at Pepperdine University's Graziadio School of Business and Management, has been named the $1,000 winner in the 2009 student paper competition held by the Graziadio Business Report, the school's online quarterly journal.
For the second year, the publication has invited Graziadio School students to submit articles and compete for the chance to be published and for a cash prize awarded by Dean Linda A. Livingstone and Editor-in-Chief Owen Hall, Jr., a professor of decision sciences.
Ferasat's award-winning composition presents five recession-fighting tactics that must be incorporated into a restaurant's overall strategy in order to maintain a competitive advantage. The restaurant business is facing its worst time in 40 years with fine-dining restaurants expected to decline by 12 to 15 percent, he writes.
The MBA candidate poses the question, "How can restaurateurs create and maintain a profitable business while adding value, increasing sustainability, and providing fresh food for the consumer?" He explores solutions such as consistent food service, food quality and safety, embracing technology, marketing, and creativity in the article, available at http://gbr.pepperdine.edu/094/studentpaperwinner.html.
“Restaurants fail all too often because passion takes over strategic vision,” Ferasat says. “Passion is important, but it can blind a restaurateur to the important issues at hand. A restaurant must incorporate the same value propositions given to a [commercial] product or service to enhance its future growth.”
Ferasat credits his curiosity about the food business to his extensive travel and an interest in culinary traditions around the world. He believes the food industry needs young managers to help develop healthier and more sustainable food businesses.
Ferasat is an MBA candidate concentrating in marketing and entrepreneurship at Pepperdine University's Graziadio School of Business and Management. Presently, he is a realtor with Merit Real Estate, a full-service real estate firm in Redondo Beach, California. He has experience in several industries, including international freight forwarding, private equity, and import/export. Ferasat received a bachelor’s degree in international relations global business from the University of Southern California. He is on track to complete his Pepperdine degree in summer 2010.
For more information about scholarly pursuits coming out of the Graziadio School of Business and Management, visit gbr.pepperdine.edu.