Strategic Management Assignment | Five Guys

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Added on 2021-01-02

Strategic Management Assignment | Five Guys

Added on 2021-01-02

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Strategic Management

Executive summeryThis report has described the background of the restaurant Five Guys. For the externalanalysis the PESTEL analysis has been conducted and For the analysis of threat & opportunitythe Five Force model has been applied. To analyse the micro factor of the restaurant VRIOanalysis has been conducted. The case study of the expansion of the business in Italy and theexpansion methods of business has been done In the report.

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Table of ContentsINTRODUCTION...........................................................................................................................3EXTERNAL ANALYSIS OF THE FIVE GUYS...........................................................................4PESTEL Analysis of Five Guys..................................................................................................4Five Force Framework................................................................................................................5INTERNAL ANALYSIS OF THE FIVE GUYS............................................................................6VRIO Analysis of the Five Guys................................................................................................6STRATEGIC RECOMMENDATION FOR FIVE GUYS.............................................................7Bowman's Strategic Clock model...............................................................................................7STRATEGIC DIRECTION FOR THE EXPANSION....................................................................9Methods of Expansion ..............................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12

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INTRODUCTIONStrategic management is a continuous monitoring, assessment, analysis and planning ofall the requirements to full fill the goals and objectives of the organization. This study is basedon the restaurant chain Five Guys which is currently operating in USA and in some part of UK.The Five Guys is providing the fast food products like Hot Dogs, French Fries, Hamburgers anddifferent cold & hot drinks. This report is consists of brief information about the five guys andchallenges faced by the restaurant chain in starting years. This report also covers the external andinternal analysis of the restaurant. The study is also consists of the competitive strategies toexpand the business in Italy and methods of expansion.BackgroundFive Guys is an American fast food restaurant chain and the focused on Hamburger,French fries and Hot Dogs. Headquarter of the Five Guys is in Arlington County, Virginia USA.This company was founded by Jerry Murrell and Janie Murrell in year 1986. The five membersof Five Guys are Jerry couple, Jim, Ben, Matt and Chad. This restaurant chain is currentlyoperating at 1500 location till the year 2016 and also looking for develop another 1500 restaurantin different locations. Five guys believe in providing the fresh food to the customers and has nofreezer policy. For last 30 years the Five guys continuously receiving the media attention andhave huge following around the world.Challenges Faced By the CompanyIn the journey of five guys, they have faced many challenges to grow up to 1500 locations. In the starting of their business most important struggle is to attract the consumer and set a brand value in the local area. For the first 16 years the member of restaurant were operating the Washington DC area and gaining the followers with their small limited menu. In year 2002 Five Guys takes an initiative for franchising the business and improve the business by operating on more than one area. In the early location they don't have enough space for storage. Five guys owner faced different challenges like financial challenges, planning and strategy related challenges, competition and marketing challenges. It was really hard to recruit the proper staff for the restaurant business. For expansion of the business the company need a proper planning and strategy.

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