You are the newly appointed General Manager at Pesto's. The CEO has asked you to investigate trends in the restaurant industry to identify ways of improving efficiency and innovation in business operations, with the view to improving the business. Part A: Identify innovation opportunities Prepare a report for the CEO and Director of Finance and Operations, on how Pesto's compares with competitors and how the restaurant can adopt opportunities for innovation. Use the readings provided to you in Appendix A, as well as Pesto's Business Plan 2018. (Appendix B), and Pesto's Actual Cash Flow 2019 (Appendix C) as a starting point in preparing your report. You must also conduct your own further research to complete this task. You may You may use the following types of sources for your research: Restaurant industry journals Restaurant industry blogs and websites Newspapers and magazines Statistical data from research organisations Your report must cover the following topics. a. Compare Pesto's current product offering with the customer preferences and business trends in the restaurant industry in Australia. You must research the preferences of Pesto's target market and discuss whether Pesto's is capable of meeting the demands of the market. b. Compare and contrast the culture of Pesto's with a traditional business model to assess the organisation's adaptability to change. c. Analyse and contrast Pesto's current business relationships, business processes and methods of doing business with other innovative businesses in Australia. . ii. Research and identify three notable or acclaimed restaurants in metro regions around Australia, who have been acclaimed for innovative business practices. For each restaurant, identify innovative business practices in the following areas: o Marketing and customer retention Business relationships (e.g. with suppliers - local vs international) o Business method or USP (e.g. specialisation, cuisines, target market, etc.) iii. Summarise the findings of your analyses and compare the findings to the business operations of Pesto's. Identify at least two inefficiencies in the operations of Pesto's.