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Steak House Essay

850 words - 3 pages

SWOT analysisPrinciples and beliefsHighly diversified restaurant businessSuperior quality customer serviceWell established brand imageHigh quality food and beverages servingManaging partner should have 10 % share which strengthens company's quality standardsUS standard quality fresh food and cooking methodVery well defined market segmentationContinuous innovationsLong term negotiation with suppliers for quality and constant supplyLowest labor turn over rateEmployee reward programsEfficient training programInternal promotions for employee motivationsManagers skill improvement programFood seminar every month for quality controlSTAR program for motivationOutbackers trust for employee supportCommunity support by sponsoring events and programsWeaknessOut focused middle scale people which consisted of very high percentage of all over the worldLack of superior advertising and marketing techniquesTechnological involvement has been ignored like internet use for servingMenu has limited choices with not much localized menuLess revenue generation during 2002 and same period expenses were high. Total current liability has increased significantly during 2002OpportunitiesIndustry expects to reach 1 trillion sales revenue by 2003.- Supporting industries like agriculture, transportation, food manufacturing are growing rapidly- Annual growth rate of 7.2%- Highest employee bas non government industry- Household spent and per capita spending is increasing every year for restaurant- More importance of restaurant for celebrations of different Days- Technological advances can reduces the costs- Joint alliance with fast food industry and wine industryThreats- Very tight margin based industry- Very tightly controlled by different government laws for health and safety- Raw materials prices are increasing which can reduces profit margin- Many local restaurants and many companies exist in the industry for cut throat competitionEconomic characteristics- Industry growth: 7.2 % growth rate of industry- Demand: Per capita consumption is increasing and also per household consumption increasing- Return on assets: Medium return on assets- Supply: Many small restaurants and big companies supply different category of food according to different segment at competitive rate- Economic situation: According to consumers' economic situation different kind of menu providedIndustry driving forcesEconomic situation of consumer: Continued improvement in economic situation of the common consumersTechnology: technological development reduces cost and enhances the product quality. US standard for food can be served by using standard technologyConsumer awareness: Continued increased focus on healthy lifestylesProduct quality: Increased product quality and standard attracts more customersService: High end service by continuous improvement programRelated business: Growth rate of related business like agriculture, poultry and meat, transportation industries growing fastEmployment: Availability of...

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