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Operations Management - The Ledbury

   

Added on  2021-02-20

18 Pages4061 Words27 Views
FinanceLeadership ManagementProfessional Development
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OperationsManagement
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a. Introduction of the Restaurant & overview of the study219...................................................1b. Analysis of existing restaurants in the proposed area including along with product orservices........................................................................................................................................1c. Evaluating the major factors affecting demand of the product or services.............................2d. Evaluating the customer profiles, market segments for the proposed restaurant along withneeds of buyers............................................................................................................................3Recommendation.........................................................................................................................5e. Describing the factors that affect the potential average spend in the proposed restaurant......5f. Explaining the process needed to develop a restaurant like market research, idea evaluationconcept etc...................................................................................................................................5g. Analysis the factors which may contribute to the customers..................................................6h. Assessing the possible opportunities for the new restaurant...................................................7i. Explaining the constraints involves while developing the new concept..................................7k. Evaluating the possible marketing objectives.........................................................................8l. Describing the two factors that affect the revenue in the new restaurant. e.g sales mix,number of customers and average spend....................................................................................8m. Conclusion.............................................................................................................................9o. Self evaluation.........................................................................................................................9TASK 2............................................................................................................................................9CONCLUSION ...............................................................................................................................9REFERENCES .............................................................................................................................10
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INTRODUCTIONOperation management is the administrative practices to create efficient possibilities forthe organisation. It concerned with the transferring material and resources into desired product orservices. However, The main advantage that company gained by the Operation management isfully utilization of resources to earn profit maximization. The present study will also base on thistopic “Operation management” in the context of The Ledbury, which is the popular restaurantsituated in London. This business starts the new business which name is Florida hights. Apartfrom this, Present paper will be outline important aspects of operation management and how itworks and factors that affect the whole operations management system. TASK 1a. Introduction of the Restaurant & overview of the study219The Ledbury is the leading restaurant in London. This restaurant opened in 2005, underthe head chef Brett Graham (Walther and Skousen, 2017). The Ledbury is the sister restaurant ofthe square a two Michelin star restaurant in Mayfair, London with the same backers investing inboth restaurants. Besides, To further carried out this research. Investigator will outline theanalysis of restaurant and product or services. Identifying the target customers, marketing andsales activities used for the sales promotions. Therefore, The whole study will analyse theoperation functions of the proposed restaurant by explaining the factors influence demand suchas Hours, Seasonality, socio -cultural etc. Therefore, to explore the business opportunities &growth, study will also outline fresh concept of new business along with their design, image,type of food, type of menu, food production methods and style of services. Apart from that,present research can also explains the performance measures techniques or methods for the newbusiness such as variance analysis, sales mix analysis, cost ratios analysis and gross operatingand net profit percentages (Smith, 2017). Along with that, The Ledbury planning to openrestaurant at new place in London at Fleet Street. b. Analysis of existing restaurants in the proposed area including along with product or services.Product or services : The Ledbury is popular for its variety of food dishes and range ofdifferent cuisines. It provides White Beetroot, Baked in Clay, Smoked Eel, Sake Cream and CharRoe. Fresh Almonds, Green Beans, Peach and Grated Duck Liver Parfait, Cornish Cod, ToastedGrains and Parsley. In deserts they offered Chocolate, Dark Chocolate Chantilly, Late Harvestand Cline Cellars. The Ledbury also have wine outlet in the restaurant as well where they1
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provides variety of wines such as White wines, Red wines, wines by the glass etc. In order toattract buyers The Ledbury also render exciting services like Gift vouchers such as Treat familyand friends, Gift vouchers if the product is ordered online etc. Customers : Target customers is a group of individuals that can buy the product orservices from the businesses and met their success criteria. For example : The Ledbury targetpeople who love to drink beer or wines. In London majority of people love to eat different kindsof food and beloved to drink wines and beer. On the other side, The Ledbury target people whoalso spend money and free time on websites, online ordering etc. Marketing & Sales Methods : Marketing or sales method is the communication mediumbetween buyers and businesses through The Ledbury promote its product & services direct tothe market (Slack and Brandon-Jones, 2018). There are various options are accessible for arestaurant business that can also acquire by The Ledbury as well such as Get attract buyer, fromcompany website, Go Social, Organise small contest, Get listed on food apps, Social Paying etc. Identifying the interrelationship with these factors Product & Services, Customers and marketing activities are directly or indirectlyconnected with each other. These all factors helpful to measure the business success and scope inthe future. All kinds of businesses wants to make good image in front of their potential buyers.For that, they bring new offers, innovative goods and services and using distinct methods ofselling either online or offline. So it has been concluded that, The Ledbury needs to acquirecompetitive business plan to attract buyers attention and growth of the business for future sales. Competitors of The LedburyCompetitors are the major factor that directly affect the running business throughapplying the new strategies and innovation ideas. Same as with The Ledbury, there are manydifferent other restaurant in London that might affect the The Ledbury sales performance. Like,Pollen Street Social, The Fat Duct, The Square, Dinner by Heston Blumenthal etc. all suchrestaurant are the rivalries for The Ledbury. In order to compete with other businesses, TheLedbury has to focus on the new innovation and ideas that helps to retained customers andcompetitive market image (Rukmana and Muslim, 2017). c. Evaluating the major factors affecting demand of the product or services.Socio-cultural : Restaurant businesses also get affected by the social factors due todistinct mind of customers, culture values, religions etc. all such factors affect the demand of the2
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