Aim and objective.4: Drawing an Action Plan: Action plan is a process that includes assessments of own strengths, available resources and market opportunities. There must be idea about marketing objective of the organization concerned essays then a plan can be prepared and further implemented to achieve the determined objective. In other words these informations are basic and needed at very first step towards making action plan: Market and trading environment of the business concerned Decision about market business is targeting to Knowledge about differentiation or advantage of uniqueness of own product and services Deciding. Action plan: product: Option in Menu list will be given pricing : may charge little higher than what has been charging promotion: There is need to promote the product and create awareness to remove the negative image of the organization. So it can be done through normal aids of advertisement-News papers. V Channels it may little costly affair in that point of view daily is better. Other Actions to be taken: It could have opened even on Sunday to attract customers want to utilize their holidays. So it will be open all 7 days.
And like in war, it is necessary to understand the enemy: How he thinks; What his strengths are; What his weaknesses are; Where he can be attacked; Where the risk of attack is too greatâ. And like in war, the competitor will have secrets that can be the difference between profit and loss, expansion or bankruptcy for the business. Identifying these secrets is thus crucial for business small survival'. (m) accessed on 2/01/2011 Other information needed is about its competitors. Information of competitors is very important to know the business of competitors and further business concerned can be compared with the competitors. So competitor analysis is very important. Aim and objective.3: to list the priorities: First of all instant action should be taken to solve hygiene problem. Proper forecasting of guests so that underproduction and overproduction both can be kept under control Extra manpower has to be reduced so that there will be less burden on payroll cost Choice of menu has to be increased Manager should be empowered or can. Local bank should be approached for short term loan for the refurbishment activities.
The restaurant industry offers many examples of segmentation by a variety of variables". (kotler, p 2004) The reason behind knowledge of market segmentation is needed because until unless its not known that which segment is being targeted by the organization concerned (in this case restaurant of Jack Sprat it would be very difficult to compare the strength. In this case its not given in the case so its important to analyse this business from its segment point of view. Information needed for competitor analysis: "To get success of the business it's needed to deal with customers, suppliers, employees, and others. In almost all cases there will also be other organizations offering similar products to similar customers. These other organizations are competitors. Objective of the other organizations is the same as yours - to grow, make money and succeed. Effectively, the businesses are at war - fighting to gain the same resource and territory; the customer.
Essay about translation Alle terrazze - restaurant
However changes in the external environment also create new opportunities and letters sometimes are rearranged to construct the more optimistic terms of step analysis. Many macro presentation environmental factors are country specific and the pest analysis will need to be a performed for all countries of interest". "Political Factors Tax policy Employment laws Environmental regulations Trade restrictions and tariffs Political stability Economic Factors Economic growth Interest rates Exchange rates Inflation rate review social Factors health consciousness Population growth rate Age distribution Career attitudes Emphasis on safety" Technological Factors r d activity automation Technology. It is equally important like medical tests are important for human body for remedy of any kind of complain of a patient. There are other tests or scanning is needed for business analysis. Market segmentation is one of them. Market segmentation: - "market consists of buyers differ in one or more ways.
They may differ in their wants, resources, locations, buying attitudes and buying practices. Because buyers have unique needs and wants, each buyer is potentially a separate market. Ideally, then a seller might design a separate marketing program for each buyer. For example a caterer can customize the menu, entertainment, and the setting to meet the needs of specific clients. However, most companies are unable to offer complete segmentation. The cost of complete segmentation is high and most customers cannot afford completely customized products. Companies therefore, look for broad class of buyers who differ in their product needs or buying responses.
Manager is less empowered-as he feels less scope has been given to him for the development of this business. Number of staff has been increased-which is extra burden on payroll expenses of the business. No refurbishment done properly yearly. Maintenance and Hygiene problem, insufficient fund/ resources for spending on maintenance and Hygiene. Menu choice is stale and boring. Improper management of food due to lack of proper forecasting of guests.
Opportunities, threats, restaurant is old so having established market. Market Image is good- reasonable price and consistent standard. Dilution of market share due to inability to refurbishment. Environment health officer may not be informal in future and there will be time when formal notice will be issued. Pest analysis before analyzing pest or pestle factors from a business point of view it is important to understand these factors: (Political, Economical, socio cultural, technological and Legal). "a pest analysis is an analysis of an external macro environment that affects all firms. Such external factors usually are beyond the firms control and sometimes present themselves as threats. For this reason, some say that pest is an appropriate term for these factors.
Here's What i know, about, essay
These internal factors are within the control of the business. Strength and weaknesses of the business can be found in the internal environment small of the business. External factors are those factors which are not within the control of the business and to be into existence business houses has to change in their internal policy and adjust itself to cope with the external environment factors. Opportunities and Threats are the factors that are part of external environment of a business. Swot : Strength, weakness, Opportunities and Threat Analysis of seafood Restaurant Business of Jack Sprat: strengths, paper weaknesses, earlier this business was profitable, it is established organization. Maintaining high standard in food and presentation. Staffs are familiar with their work. Customers feel that restaurant is conveniently placed and charges reasonable price. Owner is not able to give full time attention to the business.
So to find problem related to any business it is very first step to conduct swot analysis about and pest or pestle analysis. Before going for the swot analysis of the business concerned it is important to understand swot first. "swot analysis is the detailed search and listing of factors from situational analysis that might or will impact the business's strategy. Strategic marketing is based on the swot analysis. The process by which swot factors are derived is to carefully review the internal analysis for strengths and weaknesses, and the environmental analysis for opportunities and threats, and to then record". According to (Morrison, j 2002) "The swot analysis is a commonly used planning tool, which assesses the firm's strategic profile in terms of its strengths, weaknesses, opportunities and threats. Focusing on both internal and external environments, it serves to highlight a firm's distinctive competences, which will enable it to gain competitive advantage". Based on the above information from the scholars it is true that business environment can be divided into two part-internal and external environments. Internal environment consists of all factors that is internal part of the business.
this age (63) he has been suffering from health problem and his doctor has advised him to take rest. But business of this restaurant has gone down as soon as it was handed over to the manager. Absenteeism of the staff has been increased. Keeping in mind the remedy of the situation author has established aim and objectives of this report, here are the aim and objectives written in detailed: Aim of this report is to find remedy of the existing problem or discrepancies of the restaurant and give. Objectives are: Finding most important problems, identification of further information that would be helpful in making realistic plans for the future of the business. To list the priorities, drawing an action Plan, the structure of this report is as follows: First of all main body has been presented wherein swot, pest, and other detailed analysis has been done. Then conclusion has been drawn and bibliography (list of references) has been given followed by appendix section where additional informations has been provided. Aim and objective.1: Finding important problems: Before providing solution of anything one has to find the problems first.
So author would like to thanks to the module tutor for kind support and guidance. Introduction, jack Sprat is 63 year old owner of 60 seat licensed seafood restaurant that is situated in a paper costal town. Before starting this business Jack was simply a manager at a local Bluebeckers Restaurant. But an inheritance left this restaurant to him. Since the opening of this restaurant business it has given very good return. The belief of Jack towards success f this business is the maintenance of high standards in fod production and presentation. Other fact is Menu and beverage list has been fairly constant since beginning of this restaurant. Jack did not change menu and beverage list because business was giving modest return since beginning.
Restaurant evaluation essay - best Writings
Print, reference this, published: 23rd March, 2015 11th January, 2018. Summary, jack Sprat is the owner of seafood restaurant in a coastal town. He is 60 year old and doctor has advised him to take rest so he had appointed a manager to look after the business operation and he use to come to see the business once in a week. But once he handed over the business to the manager his business is not doing well and there is continuous declining in the business. So in order to find remedy owner has been approached to the author to analyse the case and suggest as what should be done to bring back the business of the restaurant. Author has analysed the business with the tools of business (case) analysis-swot, and pestle and further financial data has also been taken into consideration to find out the declining trend and come to a conclusion as why add business is going down. In order to evaluate the business operation and put the findings in the report author has done extensive research-secondary research and analysed the case with his valuable suggestions. Acknowledgement, author would like to convey his gratitude to those entire people who helped him to enhance his understanding of the case and analyzed the situation so that a valid conclusion of the case can be drawn. Author has completed this case successfully and has been presenting his findings with suggestion in this report.