Strategic Management of Organisation : Report
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Added on 2020-07-23
Strategic Management of Organisation : Report
Added on 2020-07-23
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STRATEGICMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Business environment......................................................................................................................1Vision, Mission and Goal............................................................................................................1Product and service.....................................................................................................................2SWOT analysis............................................................................................................................2Premise, plant and equipment and Information system and telecommunications......................3Goal, milestones, strategies..............................................................................................................3Marketing....................................................................................................................................3Pricing.........................................................................................................................................3Suitable business strategy...........................................................................................................3Business Competition......................................................................................................................3The industry................................................................................................................................3Target Market..............................................................................................................................4Influence of five force.................................................................................................................4Financial forecasts...........................................................................................................................5Project sales figures.....................................................................................................................5Project Income statement............................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONIn the present time, there is huge competition in the market as every business unitrequires to develop effective position in the market. For this purpose, companies adopt suchstrategy and practices which helps in gaining competitive advantage. Business strategy includesthose assets of an organisation which help the business unit in fulfilling its determined objectivein more appropriate manner (Achrol and Kotler, 2014). Corporation should analyse its businessenvironment in an effective manner so that it can sustain in the market for long time. While anybusiness unit enters in the market and start up its business, then it is very important to analyseseveral components that affect business environment. In the present report, it is planning to starta new business that is restaurant in the UK market under which it will serve high quality Indian,Chinese and Mexican cuisines at affordable prices. The prices of food items will be in such away that can easily attract the customers in large numbers. The name of the restaurant will beFive star food restaurant under which customer will get the chance to taste the three nation'sdelicious cuisines in the excellent quality as well as affordable price.MAIN BODYBusiness environmentVision, Mission and GoalThe mission of Five star food restaurant is to deliver high quality of three nation’s foodsuch as Indian, Chinese and Mexican in the affordable price. It also serves both alcoholic andnon-alcoholic drinks to its customers. The main mission of the cited venture is to produce thehigh quality of food products and satisfy customer requirements (Athey, Suckling and Rogers,2012). In the UK, travellers comes from various locations and countries whole around the globe;thus, it is very essential for delivering the best quality of food according to taste of customers. Vision of the Five star food restaurant is to become the first choice of customers and earnmaximum profitability in the UK market in the food sector. It also desires to expand its businesschain with the success of current restaurant. Moreover, it desires to gain effective profitabilityand market share in the competitive business environment.Goal of Five Star food restaurants is to earn the maximum profitability and market share inthe UK market and become number one food restaurant.1
Product and serviceFive Star Food restaurant will serve high quality of foods such as Indian, Chinese andMexican cuisines at affordable prices. It will serve three nation's delicious cuisines in theexcellent quality as well as affordable price (Berthon, Pitt and Shapiro, 2012). These foods willbe available at the affordable price so that average income group customer can purchase it.SWOT analysisStrengthFive star food restaurant will major strength isrelated to varieties of food. As it will servethree nations’ cuisines such as Indian, Chineseand Mexican.Another strength is its high quality of foodproducts (Bickhoff, Hollensen and Opresnik,2014). As it will serve high quality of foodproduct at the affordable price so that everyincome group customer can easily purchase thesame.OpportunityIt has opportunity to develop number one foodrestaurant in the UK market by servingvarieties of different food and drinks.Another opportunity which firm can have intype of offering more advantageous and naturaldishes or servings of mixed greens in themenu. Finding different methods for creating a greateramount of the movement amid moderatecircumstances. For example, the eveningsession where there exists less surge. This mayspeak to an open door for development for newbusiness start up.WeaknessFive star food restaurant have weaknessregarding the poor budgeting as at initial levelit will not have sufficient finance to promoteits business in the market. Due to the lack ofpromotion and advertisement, it will not beable to inform customers regarding its newbusiness.Another weakness will regard toughcompetition in the market. As in the UK, thereis alreadyfamous restaurant available whichThreatNew eatery opening in various territories canimprove wander store network for differentclient segments (Challagalla, Murtha andJaworski, 2014). Rising in cost of certainpotential item's crude materials can be anotherrisk for the said firm. This can be viewed as anoteworthy test for the cordiality firm. New market section and expanding client’srequests can be likewise observed as a danger.2
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