Business Strategy for Red Chillies Restaurant

This presentation discusses the business strategy for Red Chillies Restaurant, including its mission, vision, goals, and core competencies. It also covers the factors considered while formulating the strategic plan and techniques used in strategic plan evaluation.

Company : “ Red Chillies Restaurant”
Business Strategy

Table of Contents
 Introduction
 Business vision, mission, goals, objectives and core
competencies.
 Factors implemented while formulating strategic plan.
 Techniques used in relation of strategic planning &
evaluation.
 Conclusion
 References.

Introduction
Business is a composition of various strategies which en
able an association to grow and develop in any new mar
ket or at such phase when everything is getting wrong w
ith an association.
This project states about a new business plan for which
management have to prepare their report in front of BB
C Dragon Den whom provide sufficient fund to an entre
preneur in order to execute business activities properlyT
he business idea is of a restaurant whose name is “Red C
hillies”.

Business Mission, Vision, Objectives,
Goals and Core Competencies
 Strategies are an important part of ant business plan . It is the
responsibility of manager of the company to make effective
strategies and plans so that they can implement all their
functions effectively.
 The plan is to open a Restaurant in London which will be
named as Red Chillies Restaurant. In this , the management
has planned to give all types of facilities to its customer so
that when they leave the restaurant they feel satisfied.
 This plan will be presented in front of Dragon Den , BBC. But
before presenting it in front of BBC, the entrepreneur is told
to present their whole plan in front of Regents College.

Continued...
The vision, mission, goals and core competencies of
Red Chillies Restaurant are evaluated as:-
MISSION :
 Expanding the market shares
 Creating value for the customers
 Following the business Ethics
VISION:
 Expanding the business all around the world.
 Earning customer satisfaction and value
 Becoming a modern and innovative company.

Continued..
GOALS AND OBJECTIVES:
 Supplying healthy and beneficial products to the
customers.
 Keeping the food cost at less than 35% of the rev
enue earned.
 Aims to increase the sales by 20% every year.
CORE COMPETENCIES:
These are the special skills that must be present in he bu
siness as this will only make them different from others.
It will helpful in creating a brand image in the market a
nd will connect more customers .

Factors Considered while Formulating
Strategic plan
There are various factors that are requited to be presen
t in the business so that an effective strategic plan is for
mulated.
In case of Red Chillies Restaurant, the top level mana
gement of the business will frame such strategies that
will help them in overcoming their issues and achievin
g their goals in an easy manner. The factors are:-
 Communication
 Engagement
 Project management
 Innovation

Techniques in Strategic Plan
Evaluation
The market that can be used by the company while preparin
g the business plan is Ansoff Matrix. It is considered as a stro
ng strategic tool that helps the management in devising good
strategies for future growth.
In case of Red Chillies restaurant, this strategy will be helpf
ul in determining that what kind of products should they offe
r to their customers or what new products can they develop. I
t consists of four growth alternatives:-
 Market penetration - in case of Red Chillies restaurant,
the management will make use of their present exotic dis
hes so as to attract large customer base. This will help the
m in gaining market share.

Continued...
 Market Development - In case of Red Chillies restaur
ant, they can enter into new geographic areas by using
their current famous dishes. This strategy can be profit
able only in case when the new market in which the co
mpany is offering is similar to the one they have experi
enced.
 Product Development - Red Chillies restaurant can
make use of this strategy by extending their cuisine an
d bringing in new dishes from all over the world.
 Diversification - This strategy can be used by Red Chi
llies restaurant but it will not be used much since they
are already new in the market and by entering into anot
her new market will not be a good step.

Conclusion
It get concluded from the presentation that
business require sufficient fund as well as
techniques in order to deal with markets and their
competitors. For this, they have to prepare a
mission & vision as well as goal, objectives
which facilitate effective growth

References
 Higgins, D., Omer, T. C. and Phillips, J. D., 2015.
The influence of a firm's business strategy on its ta
x aggressiveness. Contemporary Accounting Rese
arch. 32(2). pp.674-702.
 Hockerts, K., 2015. A cognitive perspective on the
business case for corporate sustainability. Business
Strategy and the Environment. 24(2). pp.102-122.
 Ibrahim, B., Dumas, C. and McGuire, J., 2015. Stra
tegic decision making in small family firms: an em
pirical investigation. Journal of Small Business Str
ategy. 12(1). pp.80-90.