1.4 Mission and Expectations of Stakeholders 4

Contents Page1 Introduction...... 2 1.1 Brief History...... 2 1.2 Development...... 3 1.3 Growth...... 3 1.4 Mission and expectations of stakeholders...... 4 2 Internal analysis...... 6 2.1 Resources...... 6 2.2 Capabilities...... 7 2.3 Core competencies...... 8 2.4 Competitors...... 10 3 External Analysis...... 12 3.1 The Macro Environment...... 12 3.1.1 PESTEL Framework...... 12 3.1.2 Factors affecting TGI Fridays:...... 12 3.1.3 SWOT Analysis...... 15 3.1.4 Opportunities available to TGI Fridays:...... 15 3.1.5 Threats to TGI Fridays:...... 15 3.2 The Micro Environment...... 16 3.2.1 Customer Analysis...... 16 3.2.2 Competitor Analysis...... 16 3.2.3 Hard Rock Café...... 18 3.2.4 Frankie & Benny’s (F&B)...... 18 3.2.5 Market Analysis...... 19 4 SWOT Analysis...... 20 4.1 Internal Environment Analysis (Strengths and Weaknesses analysis). .20 4.2 External Environment Analysis (Opportunity and Threat Analysis)...... 21 4.3 SWOT Analysis: TGI Friday’s...... 22 4.3.1 Strengths...... 22 4.3.2 Weaknesses...... 22 4.3.3 Opportunities...... 23 4.3.4 Threats...... 23 References and Bibliography...... 24Table of Figures & TablesFigure 1: Value Chain...... 9 Figure 2: Value System...... 10 Figure 3: Competitors...... 18The Strategy Process. 133019274, 11208666, 33004681, 11206055. 1 Introduction 1.1 Brief HistoryThe TGI Fridays UK brand is owned and operated under a franchise agreement betweenWhitbread and Carlson Restaurants Worldwide. Whitbread’s vision is ‘to be the best hospitality company that there is - a family of related hotel, restaurant and leisure club brands recognised by our people, guests and investors as leaders in each market in which we operate.’ (www.whitbread.co.uk)Alan Stillman, in New York, founded TGI Fridays. In the first year of trading the store generated over $1million sales. The first franchise agreement took place in 1971 by a group of Dallas businessmen. The Dallas store opened in 1972, which is also the year the two TGIFridays operators merged. 1975 saw the acquisition of the brand by Gold Bond StampCompany, known today as Carlson Companies. Today there are 771 stores operating in 54 countries. Whitbread account for 46 of those stores aiding £476m sales in the high street restaurant sector of Whitbread. This report will focus on the Whitbread franchise of TGI Fridays. Hodgetts and Luthans (1997, p231) define a franchise as: “ a business arrangement under which one party (the franchisor) allows another (the franchisee) to operate an enterprise using its trademark, logo, product line, and methods of operation in return for a fee.”All brands within the Whitbread portfolio follow and adapt the core values of Whitbread. The‘Whitbread Way’ is described as the DNA that runs as a thread throughout the Whitbread family. TGI Fridays have applied Whitbread’s core values, which will be explored in section1.4.1.2 Development The Strategy Process. 233019274, 11208666, 33004681, 11206055. Developments in the themed restaurant market have had a negative impact on TGI Fridays.Mintel (2003) highlights the developments of the restaurant market since 1990. Themed restaurants are still enjoyed for there niche values however repeat custom is a sector problem. Themed restaurants market share has dwindled and now only accounts for 4% of all spending in restaurants in the UK. Increased sophistication in dining and gastro pub ‘fast food’ are the reasons Mintel (2003) attributes to this loss.Perceived value for money and American culture are two of the largest factors facing theAmerican sub-sector of themed restaurants. Perceived American culture throughout the world varies through the political and social actions America has taken. The BBC conducted a worldwide survey of 10 000 people to gain an extensive if not completely true view ofAmerica. The UK’s averages tend to marginally favour the USA in comparison to the global picture as only 33% of the UK has an unfavourable view of the USA in comparison to a worldwide figure of 40%. This bodes well for a national view of American culture, as it should not prevent a majority of persons from purchasing American themed products or services. Mintel (2003) supports this by stating that American is ‘the original and still dominant idea for themes.’ 1.3 Growth2001 is considered to be a renaissance period in the Whitbread history. It marks the year that Whitbread sold its breweries and exited the pubs and bars industry(www.whitbread.co.uk). In doing so Whitbread were concentrating their resources into the hotel, restaurant and leisure sectors. This was an important turning point within the brand ofTGI Fridays in terms of operating and strategic decisions. Prior to this point TGI Fridays had been run as a separate entity in comparison to other Whitbread ventures. The four years to follow would see Whitbread incorporating the brand into its own long-term objectives. Due to the 5% drop in like-for-like sales during the 1999/2001 fiscal year (Mintel, 2003) TGIFridays came under close scrutiny from the executive team at Whitbread. The menu began The Strategy Process. 333019274, 11208666, 33004681, 11206055. to become streamlined, 2004/2005 would see the disappearance of 45 dishes from the standard menu (Mintel, 2005). Productivity of staff also became a major focus point. Over£3m was invested in new technology to simplify the role of back of house positions. This will be analysed further in sections 2.3 and 3.1.1.1.4 Mission and expectations of stakeholdersA mission statement is “a summary of the essential aim or purpose of the organization; its essential reason for being in business” (Thompson, 2003). Johnson and Scholes go on to explain that the company’s mission, objectives or strategies (collectively called values) form part of the organisational culture along with beliefs and paradigms (2002, pp.228-9). TGI’s mission has been sub-divided into: Vision “To be the entertaining restaurant experience” Aspiration “We want to double our number of guests to 12 million and treble our profit to well over £20million over the next 3-5 years” Promise “Escape the ordinary” And, through the parent company, The Whitbread Way:  People/Teamwork. Caring For Guests. Passion For Winning. Continuous Improvement.Stakeholders are “those individuals and groups, both internal and external, who have a stake in, and an influence over, the business” (Thompson, 2003, p206).The Strategy Process. 433019274, 11208666, 33004681, 11206055. Stakeholders expectations can be conflicting in many ways, as Johnson & Scholes (2002) specified: Short-term goals may have to be forfeited, such as cash-flow and pay levels. TGI have had to put net profit on hold while they concentrate on covers growth. Financial independence may be sacrificed. Whitbread, sin 2001, when they commenced concentrating on retail there has been a dramatic decrease in independence, both financially and in other area of the organisation. Cost efficiency may lead to job losses. In the kitchen area there have been cuts due to improved efficiency and new technology. Quality standards may decline. There has been a reduction in fresh produce used this may lead to a decrease in taste quality. In large, multinational organisations (such as TGI), conflict can result because divisions ‘belong’ to 2 organisational fields. The differences between Whitbread (UK franchiser) and Carlson (US brand owner), for example Carlson state that a percentage of dishes have to be identical in the UK and US, even if the products are not popular or to the tastes of the UK target market, leading to customer dissatisfaction.The Strategy Process. 533019274, 11208666, 33004681, 11206055. 2 Internal analysisInternal analysis is based around the identification organizational strengths and weaknesses, and looking at sources of competitive advantage. Porter defines this as “to achieve competitive success, firms must possess a competitive advantage in the form of either lower costs or differentiated products that command higher prices” (1990, p.10). Firms have to ensure they develop:  Resources Capabilities Core competenciesThese will all be described within this report with regard to TGI Friday’s strategies.2.1 ResourcesThese are the elements within the business that enable it to achieve its mission, see section1.4, these include: Research & development “The pursuit of new knowledge and ideas and the application of that knowledge to exploit new opportunities to the commercial advantage of a business”(Goleman et al, 2002, p.1325). See section 1.2 Human resources Can be defined either as the “discipline of managing people in an organisation[or] the employees of an organisation” (Goleman et al, 2002, p.1260) TGI have a business goal to have more than 2,400 members of staff to operate in 100+ restaurants (TGI Conference on People Strategy & Communication,2005)  AssetsThe Strategy Process. 633019274, 11208666, 33004681, 11206055.  These are “the tangible and intangible items to which a value can be assigned.Assets can be physical, such as machinery and consumer durables, or financial, such as cash and accounts receivable” (Goleman et al, 2002, p.1177) Also human resources are frequently classed as an organisations most important asset (as discussed in Luffman et al, 1996, p.102) The new Kitchen Display Screen (KDS) system is one of the newest technological assets to be used by TGI. To install in all outlet this system cost over £3million. Capital This is “money that can be invested … to make a profit” (Goleman et al, 2002, p.1197) Aiming to increase return on capital employed by 1.7 to 30%.These all form part of the value chain as discussed in section 2.3.2.2 CapabilitiesCapabilities are what the organisation has done before, Johnson & Scholes define strategic capability as “about providing products and services to customers that are valued – or might be valued in the future … This is concerned with the product features – remembering that this includes not just the product itself but aspects of service too” (2002, p.147)Capabilities therefore include the past products and services that have been used to satisfy the customers, these products and services together form the company’s portfolio, TGI’s menu portfolio includes: Food  Kids Appetizers  Events (such as Christmas and To share New Years Eve) Mains Desserts  Drink The Strategy Process. 733019274, 11208666, 33004681, 11206055.  Cocktails  Soft drinks Shooters  Service Beers  Informal Table service Spirits  Bar flair2.3 Core competenciesJohnson and Scholes state that competencies and skills “make up [the organisation’s] strategic capability” (2002, p.18) they go on to describe competencies as “activities, know- how and skills” (2002, p.18). Goleman et al states that a core competence is “a key ability or strength that an organisation has acquired that differentiates it from others, gives it competitive advantage and contributes to its long-term success” (2002, p.1214). They are hard to achieve and even harder to maintain, if a core competency is found to be successful other organisation in the industry are likely to adopt similar activities or methods, thus eliminating the advantage.Along with the 7 criteria of sustainable advantages value chain analysis is a tool that can be used to ensure that internal analysis leads to competitive advantage. It was coined byMichael Porter in his text ‘Competitive Advantage’ (1985), the value chain of a given firm is illustrated in figure 1.FIRM INFRASTRUCTURE (e.g. finance, planning)HUMAN RESOURCE MANAGEMENT SUPPORT ACTIVITIES TECHNOLOGY DEVELOPMENT M PROCUREMENT A R G I NINBOUND OPERATIONS OUTBOUND MARKETING AFTER SALE LOGISTICS (Manufacturing) LOGISTICS AND SALES SERVICEPRIMARY ACTIVITIESFigure 1: Value Chain The Strategy Process. 833019274, 11208666, 33004681, 11206055. The bottom half of the model refers to the process and the top half represents all the other parts of the organisation which help to create competitive advantage relating to primary activities, for example technological improvements within operations (the actual construction of the product) may lead to competitive advantage.  Firm’s infrastructure Whitbread have recently adapted to having more of an input into TGI Human resources management  Johnson & Scholes (2002) reflect that a strategic leader “is an individual upon whom strategy development and change are seen to be dependent”. The same authors state that “organisational structure is likely to reflect power structures and, again, delineate important relationships and emphasise what it important in the organisation”. TGI have recently streamlined their management structure Reduction of sections in the kitchen leading to fewer staff Technological development New technology in the kitchens has lead to fewer, less skilled staff being required. Hand-held computers (KDS system) now enable faster communication between front of house and kitchen. All stations in the kitchen have a computer screen which displays the food items appropriate to that station and a zone to put the completed items where the dish is assembled.  Procurement Processes for getting the correct resource inputs in the right volumes at the right time  TGI have a system in place of stock management through just in time strategies. TGI actively market offers to ensure covers meet the targets set by Whitbread.The Strategy Process. 933019274, 11208666, 33004681, 11206055.  2 batches of customer questionnaires are carried out every year along with focus groups to ensure the right products are being delivered. It is important to realise that every part of the supply chain has its own value chain creating a value system (see figure 2) and working with the advantages of each member can create further differentiations.Supplier value Firm value Channel value Buyer value chains chain chains chains (distributors or retailers)Figure 2: Value System2.4 CompetitorsTo gain an advantage over the competition an organisation needs to understand who, and on what levels, they are competing. Some direct competition that TGI Friday’s have are listed in section 3.2.2, they are all competition whether through using the same strategies, appealing to the same target market, located in the same areas or providing the same product or service style.The Strategy Process. 1033019274, 11208666, 33004681, 11206055. 3 External AnalysisExternal analysis identifies the strategic opportunities and threats which a company will face in the future. The external environment consists of the macro and micro environments. The macro environment is the general economic platform on which all businesses operate, this can be analysed using the PESTEL framework and a SWOT analysis. The micro environment is defined by the firm’s suppliers, customers and competitors. To analyse the micro environment a customer analysis, competitor analysis and market analysis need to be carried out. .3.1 The Macro Environment3.1.1 PESTEL FrameworkThe PESTEL framework identifies six main types of environmental influences: political, economic, social, technological, environmental and legal. Johnson et al. (2005, p.65) explain that these factors can be interlinked and when one factor changes the competitive environment in which the company operates is affected.3.1.2 Factors affecting TGI Fridays: Political EU Expansion will increases Labour supply which may begin to counteract the low unemployment levels in the UK, which TGI’s identified. Maternity benefit has been extended to 9 months and will rise to 12 months byApril 2007, this may have a financial effect as the employer must pay the extra maternity benefit and extra staff wages. Working time directive 2010, will have a major, but deferred impact. There will be new laws to bring the entire EU in line on working hours with a maximum working week of 48 hours and regulations on breaks, within the hospitality industry it is often difficult to keep in line with such regulations because of the nature of the work. The Strategy Process. 1133019274, 11208666, 33004681, 11206055.  Economic  Continued low unemployment causes a shortage of quality labour. Competitive environment at management and store level. The UK has a lower productivity level than other G7 countries based on GDP; however this has been showing improvement over the last 10 years.(www.statistics.gov.uk) Tourist visit and spend vulnerable to external events and trends (e.g. Terrorism) Higher personal disposable income and leisure spend may help to increase covers. Social Demographics – An ageing population means TGI’s may need to look at older employees and find ways to target older customers who may be less enthusiastic about American themed restaurants. Lifestyle changes, including dietary requirements which are starting to be catered for by new menus, but they will never be fully catered for because of the theme of TGI’s. Level of Education – Rise of TV chefs people want a better eating out experience. Perception of sector as short term jobs with little career progression and low paid unsociable hours. Lack of food education in schools impacts hospitality as a career choice. Technological Technology potential is untapped in hospitality sector. However TGI’s are taking advantage of advances in EPOS which will facilitate improvements to service and food quality. TGI Fridays commissioned Fujitsu to develop the KDS system.  Staff technology training will be key to increasing productivity.The Strategy Process. 1233019274, 11208666, 33004681, 11206055.  Increasing use of internet and other technology by the consumer. Gives rise to the potential for online booking.  Environmental Growing concern over protection of the environment by consumers. TGI Fridays parent company Whitbread have already started making substantial environmental changes including increased recycling and a reduction in consumption and emissions. Legal Increasing regulation:~ National minimum wage increase October 2005 and October 2006. Labour costs outstrip inflation.~ Paternity changes as well as maternity~ Smoking ban – currently restaurants are non-smoking but bars are still smoking~ Discrimination including sexual~ Disability discrimination act (2005) has cost the company a lot in terms of making all restaurants accessible, so for any future restaurants this factor needs to be taken into account to minimise extra costs. Relaxation of Liquor Licensing Laws – Gives a potential for longer opening hours, the company will need to consider the implications this may have.3.1.3 SWOT AnalysisFor the external analysis the opportunities and threats from the SWOT analysis should be considered.The Strategy Process. 1333019274, 11208666, 33004681, 11206055. “ A SWOT analysis summarises the key issues from the business environment and the strategic capability of an organisation that are most likely to impact on strategy development”Johnson et al (2005 p.102)3.1.4 Opportunities available to TGI Fridays: Segment estate and people communities. Refine employee profile to guest profile and business need. New targeted methods of recruitment with more persuasive message e.g. role models. Potential strength to identify high fliers and manage through Talent Matters, which aims to recruit potential employees into management and Talent Pool, which develops the careers of current managers. Develop and implement AssistantGeneral Managers fast track programme More two-way communication Utilise Oracle, the financial package and WINcard (Whitbread In Numbers) to measure success. Find simple ways to implement employee attitudinal segmentation e.g. flexible packages. Technology developments to be used more effectively, such as the KDS system.3.1.5 Threats to TGI Fridays: Inability to follow through on management career path. TGI’s will lose employer of choice status if not proactively managed. ‘Busy fools’ not focusing on key priorities, when staff are doing jobs which are not essential and should be concentrating on priorities. Too many initiatives may cause key messages to be lost. Costs escalate ahead of sales increment. Solutions are over elaborate.The Strategy Process. 1433019274, 11208666, 33004681, 11206055.  The themed restaurant market is reaching saturation, with various independent restaurants trying to mimic the bigger chains.(Mintel, 2003)3.2 The Micro Environment3.2.1 Customer AnalysisTGI Fridays identify their three key target markets of customers as the 18-24 age group, 25-34 age group and older families. The older families group is the weakest of these key markets; however TGI Friday’s believe the most room for improvement is with the 18-24 age group if they are treated as the primary target. This idea makes sense as consumer research showed a higher level of enthusiasm for American themed restaurants from this age group than from other demographic groups (Mintel, 2003).3.2.2 Competitor AnalysisCompetitors should be analysed using identity, strategic groups, performance, image, objectives, strategies, culture, cost structures, strengths and weaknesses. This can be done by using Porter’s five forces framework.“The ‘five forces’ model developed by Michael Porter …. Is powerful in its ability to describe many market situations, and also it is widely used.” Luffman et al. (1996, p. 49)The five forces Porter identified are: The risk of new entry by potential competitors – Some industries have high entry barriers, such as economies of scale and high capital expenditure needed before opening (e.g. equipment). Within the restaurant industry there are fairly low barriers to entry and Mintel (2003) identify there are many independent firms trying to copy the larger companies. The extent of rivalry between established firms – TGI Friday’s main rival is Frankie’s and Benny’s.The Strategy Process. 1533019274, 11208666, 33004681, 11206055.  The bargaining power of buyers. The bargaining power of suppliers – If suppliers prices fluctuate TGI’s may lose out due to set menu prices. The threat of substitute products – Substitute products would be other restaurants in different segments.Informal American Out of Feature Family Themed table food town bar market service TGI       Hard Rock      Chicago Rock      Planet Hollywood     Old Orleans/Quincey’s      Fatty Arbuckles      Chiquito     ASK   Harry Ramsden’s    Here’s Johnnys       Nandos   Frankie & Benny’s      Dexters/Tootsies    Pizza Hut    McDonalds    Burger King    KFC    Garfunkels   Key:  not every outlet  every outletFigure 3: CompetitorsThe Strategy Process. 1633019274, 11208666, 33004681, 11206055. The competitors are those who fall within a strategic group with TGI Fridays. Johnson et al.(2005, p.89) identify strategic groups as organisations within an industry who have similar strategic characteristics and follow similar strategies or compete on similar bases. The barriers to entry within the restaurant industry are fairly low and a report by Mintel (2003) on themed restaurants stated that the market for American themed restaurants was becoming increasingly more saturated due to an increase of independent outlets using similar concepts as the bigger chains.3.2.3 Hard Rock CaféThe Hard Rock Café (HRC) website (Hard Rock Café, 2005) explains that it was founded inLondon in 1971, and has grown to cover over 40 countries and have more than 120 restaurants. HRCs objectives are “delicious food, awesome music, a high-energy atmosphere and creating a rock 'n' roll experience their guests will never forget.”(www.hardrock.com/corporate/mission, 2005). They now offer cafes, casinos and hotels in the Hard Rock portfolio. Within the café sector HRC offer American styled food, drinks and the added element to the portfolio of memorabilia on display or HRC branded items for sale.Even though the company was founded in the UK by two Englishmen, the brand always portrays itself as American.3.2.4 Frankie & Benny’s (F&B)The F&B website (F&B - 1950's New York Restaurant Experience, 2003) states that the company was founded in 1953, although this was when Frankie Giuliani and his high school friend, Benny, took over Frankie’s parents restaurant that had been open since 1925; however this story is complete fiction and its only purpose is to ensure customers think they are getting genuine American-Italian food.F&B now have 100 restaurants in the UK. Bringing together the best in Italian and American style and cuisine their mission statement is to make home-style cooking “just like MammaThe Strategy Process. 1733019274, 11208666, 33004681, 11206055. used to make it!”. However, TGI have deduced in their own analysis of competitors thatFrankie & Benny’s strategy is “emphasised on conveying their charmingly false historical details” (TGI Conference on Communications Strategy, 2005)Therefore TGI’s biggest competitor is Frankie and Benny’s because they offer a similar style of service, aimed at the same market segments and are often within a similar geographical location such as an out of town site. The other direct competitors offer a similar product in a similar atmosphere with an emphasis on the service style.3.2.5 Market AnalysisTGI Friday’s falls within the American-themed segment of the themed restaurant market.Themed restaurants are within a niche in the overall restaurant industry with a share of 0.6% of the whole eating out market (Mintel, 2003). However within this niche American concepts are the most popular. Research carried out by Mintel (2003) found that 25% of people who had ever used a themed restaurant had been to an American concept restaurant.The Strategy Process. 1833019274, 11208666, 33004681, 11206055. 4 SWOT AnalysisThe SWOT analysis provides information that is helpful in matching the company’s resources and capabilities to the competitive environment in which it operates (QuickMBA.com, 2004).SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats(businessballs.com, 2005). A scan of the internal and external environment is a vital part of the strategic planning process. 4.1 Internal Environment Analysis (Strengths and Weaknesses analysis)A firm’s strengths are its resources and capabilities that can be utilised as a basis for developing a competitive advantage (quickmba.com, 2004). For example: Patents Strong brand names Good reputation among customers Cost advantages from proprietary know-how Exclusive access to high grade natural resources Favourable access to distribution networksThe absence of these strengths may be viewed as a weakness. Sometimes a business does poorly not because its departments lack the required strengths but because they do not work as a team (Kotler, 2001). Therefore, it is very important to assess interdepartmental working relationships as part of the internal environmental audit.In some cases, a weakness may be the flip side of strength (quickmba.com, 2004). Take the case in TGI Friday’s, where the management is not committed in certain restaurants. For instance, they did not provide adequate training for staff which provide a deficit of experience in the management pool. While this situation may be considered a weakness that competitors do not share; it also may be a considered strength if TGI head office put moreThe Strategy Process. 1933019274, 11208666, 33004681, 11206055. money into training to prevent staff from poor management of service skills therefore improving service quality. 4.2 External Environment Analysis (Opportunity and Threat Analysis)“ The opportunities which matter are thosethat can be capitalised on because they fit the organisation’s values and resoucres.” Thompson, 2003, p.264 Opportunities can be classified according to the company’s attractiveness and success probability (Kotler, 2001). Some examples of such opportunities include: An unfulfilled customer need Marketing to potential customers to gain increased repeat customers. Arrival of new technologies Quicker service speed (KDS), giving better perceived value for money. Loosening of regulations Removal of international trade barriers Changes to other countries’ politics and trading systems.The best-performing company will generate the greatest customer value and maintain it over time (Kotler, 2001). “[Threats are] those that the organisation must deal with and which it is not well equipped to deal with”Thompson, 2003, p.264Threats can be classified according to seriousness and probability of occurrence. For example: Shifts in consumer taste away from the firm’s productsThe Strategy Process. 2033019274, 11208666, 33004681, 11206055.  Emergence of substitute products New regulations Increased trade barriersQuick MBA, 2004Once the company management has identified the main opportunities and threats which face a particular business unit, it may symbolize that business’s attractiveness (Kotler, 2001).There are four possible outcomes: An ideal business is high in major opportunities and low in major threats. A speculative business is high in both major opportunities and threats. A mature business is low in major opportunities and low in threats. A troubled business is low in opportunities and high in threats.4.3 SWOT Analysis: TGI Friday’s Below are the highlighted factors in the SWOT analysis of TGI Fridays, detailed investigation can be found in the internal and external analysis sections.4.3.1 Strengths Strong brand name which has been developed worldwide over a period of 40 years.This has been aided through media exposure in film and more recently print through active marketing in newspapers and magazines. Good reputation among customer group aged 15-24 (Mintel, 2003) Superior service performance versus competitors as it encourages an informal and theatrical atmosphere (Ingram, 2005) Have customer database for direct mailing to encourage repeat custom.  Product innovations ongoing, through guest focus groups and food forums to determine future trends.4.3.2 WeaknessesThe Strategy Process. 2133019274, 11208666, 33004681, 11206055.  High training levels previously adhered to left an indulgent culture and high expectations.  Management cover insufficient due to a deficit of skilled managers and a lack of career planning.  Management are often headhunted therefore the average management lifespan within the brand is short.4.3.3 Opportunities Could develop new products that are simplified to increase both gross and net profit, through developed KDS technology and increased processed food.  Could develop to city centre.  New targeted methods of development with more persuasive methods using ‘Talent Matters’ and ‘Talent Pools.’ Utilize oracle and WINcard to measure success inline with Whitbread.4.3.4 Threats Legislation impact.  Retention of key staff is critical in proactively managing personnel.  Possible negative publicity from customers perceived image of quality as a result of the heavy discounted promotions. Possible Bird Flu affection would affect profit margin due to the large quantity of chicken dishes. Costs could not necessarily be passed onto the consumer.The Strategy Process. 2233019274, 11208666, 33004681, 11206055. References and BibliographyBBC Website. (2005) Land of the free, home of junk food, or global policeman: What do you think of America?, [Internet] Available from:<http://news.bbc.co.uk/2/hi/programmes/3000894.stm> [Accessed 1 November 2005]Frankie & Benny’s. (2003) F & B - 1950's New York Restaurant Experience [Internet].Available from: <http://www.frankieandbennys.com> [Accessed 25 October 2005].Goleman, D. et al, (2002), Business: The Ultimate Resource, Bloomsbury Publishing Plc,LondonHard Rock Café. (2005) Hard Rock Café [Internet]. Available from:<http://www.hardrockcafe.com/> [Accessed 25 October 2005]Hodgetts, R.M. & Luthans, F., (1997), International Management, 3rd Edition. McGraw-Hill,US.Johnson, G. & Scholes, K., (2002), Exploring Corporate Strategy: Text & Cases, 6th Edition,Pearson Education Limited, EssexJohnson, G. et al, (2005), Exploring Corporate Strategy, 7th ed. London, Prentice Hall Luffman, G. et al, (1996), Strategic Management: An Analytical Introduction, 3rd Edition,Blackwell Publishers Ltd, OxfordMintel, (2003), Themed Restaurants, London, Mintel International Group LtdThe Strategy Process. 2333019274, 11208666, 33004681, 11206055. National Statistics (2004), International Comparisons of Productivity [Internet]. London.Available from <http://www.statistics.gov.uk> [Accessed 1 November 2005]Philip, K. (2001), Marketing Management 10th ed. Beijing: Pearson Education Asia Ltd andTsing Hua University Press.Porter, M. (1990), The Competitive Advantage of Nations, McMillan Press Ltd, HampshireQuick MBA. (2004), Strategic Management – SWOT Analysis [Internet] Available from:<http://www.quickmba.com/strategy/swot> [Accessed 18 October 2005] Businessballs.com. (2004), SWOT Analysis Template [Internet] Available from:<http://www.businessballs.com/swotanalysisfreetemplate.htm> [Accessed 18 Oct, 2005]TGI Conference on Communications Strategy, 2005, (2005). Know What We Know: Key Data& Beliefs to inform a Communications Strategy, Hammond, T.TGI Conference on People Strategy & Communication, 2005, (2005) People Strategy &Communication, Hammond, T.Thompson, J.L., (2003), Strategic Management, 4th Edition, Thomson Learning, LondonThe Strategy Process. 2433019274, 11208666, 33004681, 11206055.

1.4 Mission and Expectations of Stakeholders 4

Details

Download

Copyright

We respect the copyrights and intellectual property rights of all users. All uploaded documents are either original works of the uploader or authorized works of the rightful owners.

Support