(Q1-5): Consider a business in the Hospitality industry sector. It could be anything from a Restaurant to a Hotel etc. Imagine that you are the new owner of this business. Answer the following questions to show your understanding of how firms function and the issues that owners and managers encounter. 1. Name the business and give a description/overview of your understanding of how the business functions. E.g. how does it generate revenue? (1 mark) 2. Explain one (1) specific major financial decision that you may need to make as the owner/manager of this business. (1 mark) 3. Describe the structure of the business and contrast the positives and negatives of this structure with alternative typical business structures in Australia. (2 marks) 4. What are Agency issues and how will you overcome these if you choose to hire a manager for your business. (2 marks) 5. You have the opportunity to expand by taking over a rival business. Describe three (3) factors that you must take into consideration when deciding whether to purchase this business. Explain why each is important