Analysis of Ledbury Restaurant's Growth Strategy Project

This project analyzes the growth strategy for Ledbury Restaurant, focusing on product development within the context of the COVID-19 pandemic. It examines the restaurant's current situation and proposes an online food delivery strategy to enhance operations. The project includes a literature review discussing SWOT and PESTLE analyses to assess the external and internal factors influencing the business. The research methodology utilizes qualitative research, employing interpretivism to gather and analyze data, primarily through secondary sources. The analysis section covers a situational analysis, employing SWOT to evaluate the restaurant's strengths, weaknesses, opportunities, and threats, and PESTLE to assess external market factors. The project concludes with a growth strategy proposal and recommendations for the company, aiming to leverage product development for sustained growth and market competitiveness. The project provides detailed analysis of the restaurant and how it can improve sales and brand recognition.

Entrepreneur Research
Project

Table of Contents
.........................................................................................................................................................2
Proposed Research Subject..............................................................................................................1
Research Background and Introduction ..........................................................................................1
Literature Review ............................................................................................................................2
Research Methodology....................................................................................................................3
Analysis ...........................................................................................................................................4
Situational Analysis................................................................................................................4
External Market Analysis ......................................................................................................6
Risk Analysis .........................................................................................................................9
Growth Strategy Proposal ....................................................................................................10
Recommendation to the company .................................................................................................10
Conclusion.....................................................................................................................................11
References .....................................................................................................................................13

Proposed Research Subject
The proposed subject for this project proposal is “To conduct an investigation over the
growth strategy for the Ledbury by the means of product development strategy:
Research Background and Introduction
The primary aim of this study is to develop the growth opportunity for the business through
implementing the product development strategy, thus it is an effective tool which will be
imperative for the business in the case to enhancing the operations and functions of the business
(Ramos-Rodríguez and et. al., 2012). In the modern business era, the key motive of each
business is to maximising the operations of the business and attains higher competitive edge. For
this businesses are concern over implementing the effective tools and strategies to gain higher
advancement and progression within market place. In the pandemic of COVID 19 the operations
and progression of the business are affected as this is a major global issue which has a wider
impact over the entire globe and the operations of business in each sector. Due to the widely
spread virus the businesses are not able to operate in suitable manner and for this businesses are
concern over implementing effective and suitable strategy to gain higher growth and progression.
In this present analysis study has been developed over the analysis of hospitality industry as it is
the major sector which is widely affected due to the issue of COVID 19 as due to the widely
spread virus the individual are not moving out from the house and are not consuming outsider
food as the operations of hostel and restaurant business are influenced badly. Ledbury is a well
recognised restaurant in London. Therefore, the restaurant is located on Ledbury Road, Notting
Hill, London, England. This restaurant is opened in the year of 2005, under head chef Brett
Graham. It is the sister restaurant of The Square, a two Michelin star restaurant in Mayfair,
London, with the same backers investing in both restaurants. The project contains the study
about developing the opportunity for the business in the manner to facilitating online food
facility to the people and delivers them at the door of the customers with considering all the
possible measures. Therefore, this is the most suitable strategy for the business to deal with the
economic issues and attracting more and more customers towards the firm and its offerings
(Poulston and Yiu, 2011). Product development strategy is the best suited strategy for Ledbury to
dealing with the pandemic situation of Corona virus and gain higher growth and success.
However, a product development strategy is significantly refers as the strategy that is relay over
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developing new product and modifying available products so they appear new and offering the
products to the current and new market efficiently. Product development strategy is effective for
the business in the manner to attain higher growth and success.
Research Aim
“To conduct an investigation over the growth strategy for the Ledbury by the means of
product development strategy. A study on Ledbury Restaurant London.
Research Objectives
 To understand the concept of product development strategy in context to business.
 To identify the appropriate strategy that company can use to gain growth in global level.
 To determine the significance of internal and external evaluation to analyse the growth
opportunity for Ledbury Restaurant London.
 To access the impact of implementing product development strategy over increasing the
operations of Ledbury Restaurant London.
Research Questions
 What is the concept of product development strategy in context to business?
 What is the appropriate strategy that company can use to gain growth in global level?
 What is the significance of internal and external evaluation to analyse the growth
opportunity for Ledbury Restaurant London?
 What is the impact of implementing product development strategy over increasing the
operations of Ledbury Restaurant London?
Literature Review
A literature review is imperative area of an investigation which provides a detailed
theoretical perspective over a specific investigation area. Therefore, in the context to this present
report literature review is being developed to enhance the theoretical perspective to gather
valuable information. In this literature is being developed via the implementation of models,
theories and concepts that are valuable for the Ledbury Restaurant to determine the effectiveness
of product development strategy for the growth and development of the business (Veronica And
et. al., 2020).
According to Kuligowski (2020), SWOT is mainly stands for strength, weakness,
opportunity and threats. Therefore, it is an imperative approach which is widely implemented by
the businesses to develop an effective strategy through a comparing internal factors like strength,
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weaknesses in against of external aspects like opportunity and threats. A SWOT evaluation is
imperative in rendering the detailed, unbiased explanation in regards to the business as a whole
or a specific product or campaign. This model is imperative in nature to providing suitable
assistance to analysing the factors that affects the business and its operations. A SWOT analysis
helps the businesses to get visibility on their present situation, letting them understand and
measure overall business performance. In the context to Ledbury SWOT analysis is effective in
providing suitable detailed evaluation about the internal aspects which affects the operations of
the business. Therefore, the SWOT is supportive for Ledbury in analysing the strength of the
business in terms of approaching a new idea of providing online food facilities to the customers.
SWOT is imperative in evaluating the possible opportunities of launching a new mobile
application to deliver door to door facilities to the customers within the pandemic of COVID 19.
Hence, the swot analysis is also effective in determining the weaknesses and threats of the idea
within the market and also provide assistance to overcome them to gain progression.
According to Amable (2018), A PESTLE analysis is defined as the framework or
approach which is effectively implemented by the marketers to evaluate and monitor the macro-
environmental aspects which have an influence over a business. PESTLE mainly stands for
Political, Economic, Social, Technology, Environmental and Legal aspects that are supportive in
conducting external evaluation and support the business in right direction through overcome the
barriers that influences the operations adversely. It is very helpful to execute A PESTEL
evaluation prior to starting up their own business or if the business have an existing business, has
it would give the business a strong indication on the influence of the criterion that have on
individual business depending over the industry the business and its management decide that
they want to start up a business or currently operating, if business would needs any legal or
political standard that the business will need to abide by and other essential factors which can
affect your start up or your business. Therefore, the model is imperative and include being cost
effective, rendering an in-depth understanding of the business. Thus, its also alertness to threats
and a tool to exploit opportunities for the business. PESTLE is imperative in providing a wider
external evaluation to the business to attain higher growth and success. In the terms to launching
a new idea of online food facilities for Ledbury Restaurant PESTLE is effective in providing in
side out evaluation about the external aspects which are effective in approaching the idea
towards the movement of achieving success and progression.
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Research Methodology
This defined to be the most important area of an investigation as it works as per
systematic model of providing assistance to the researcher to aid the project in right manner.
Therefore, this section is encompasses over the selection of suitable applications which are
supportive in nature to aid the project in right way. The appropriate methodologies for this
analysis are associated as under:
Research Method: In the execution of the research it is important for the researcher to select the
most suitable source to conduct the project in right manner. This section of investigation is relay
over qualitative and quantitative research methodology. For considering the present research into
appropriate action, qualitative research is being executing by the researcher, thus it is effective in
executing descriptive evaluation via the support of gathering information within qualitative
means. Therefore, in this investigation is executed over the aspect of examining the growth
strategy for the Ledbury by the means of product development strategy and qualitative research
is effective in providing support via implement models, theories and concepts based on the
similar subject.
Research Philosophy: Research methodology is defined as the belief about the way in that
information in relation to a phenomenon needs to be gathered, evaluated and implemented. The
selection of philosophy is based on two important tools like positivism and interpritivism
research philosophy. In the context to this present investigation work, interpritivism research
philosophy has been implemented by the researcher. However, interpritivism is the suitable
selection for qualitative research and it is imperative in providing information via the opinion
evaluation of others.
Data Collection and Analysis
Data collection and analysis is recognised as the most imperative aspect of a study as it
helps in aiding the entire project in right manner with the assistance of gathering suitable
information. Therefore, in the context to this present analysis data collection is based on
secondary aspects as this is imperative in nature to gather valuable information (Lawrence and
Weber, 2014). Secondary research is being developed to implement theoretical perspective as in
this models, concepts and theories are implemented to enhance recognition about the topic and
the suitability of the product development strategy for the growth and operational enhancement
of Ledbury Restaurant London. However, secondary research is imperative in exploring
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individual understanding via providing support through applying suitable theories and strategies
which are suitably effective for a specific subject area. Secondary research is imperative in
enhancing in-depth understanding with the the implementation of theoretical framework.
Despite from this, data analysis is defined as the procedure of inspecting, cleansing,
transforming and modelling information through the intention of determining the appropriate
data, information outcome and also supporting decision making. However, in the context to this
present study the analysis is being conducted with the help of analysing the suitable methods,
models and theories which are effectively implemented to aid the project in right manner.
(Jogaratnam, 2017).
Analysis
Situational Analysis
A situational analysis is recognised as internal and external aspect of a business. It
basically allows the businesses to implement market investigation to analyse the projected
growth, define the potential buyers, access the rivalry and determine the state of the business
within market. Ledbury Restaurant is a famous and leading restaurant in London and work with
the zeal to enhancing the profitability of the business via satisfying the customers at wider level.
Ledbury is offering wide range of food facilities to the customers and wants to explore the
operations at wider scale (Sanchez-Gutierrez And et. al., 2012). In the outbreak of COVID 19
businesses from each sector are facing assorted issues in operating within market and in this
pandemic online food deliver would recognised as the most suitable tool which a business can
implement to maintain their operations within the market. However, the Ledbury Restaurant is
concern over approaching online food delivery facility to the customers to enhance the
operations of the business within market. From effectively conducting the situation analysis,
SWOT is the best and effective tool which renders suitable situational analysis to Ledbury via
determining the strength, weakness, opportunity and threats. The suitable description regarding
the SWOT of Ledbury is described as below:
Strength: Strength is termed as the power for the business which develops value for the business
to enhancing the operations and progression of the business. Ledbury is a leading restaurant
which is operating within London and the key strength of the restaurant is the effective brand
image of the business and the unique and innovative decorative environment and the quality of
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the food items (Tan and et. al., 2017). Thus, these are the strength of the restaurant which helps
the business to appreciating the online food delivery facility to the customers. With the help of
effective brand image within the market the growth opportunities are enhance as the company
can gain benefit via attracting more and more customers towards the firm or its offerings.
Weakness: Weakness is recognised as the internal factor which represents the place for the
business which needs suitable improvement to aid the operations of business in right manner.
Ledbury is a leading small restaurant which works with the limited staff range, adequate training
to the staff are the major weakness of the restaurant. In addition to this, the weakness of Ledbury
may also involve not receiving the appropriate supplies which result in menu items not being
available (Pulido-Fernández and et. al., 2019). Therefore, relying over an outdated point of sales
system or the using paper to keep the track of ordering and stocking is a major weakness, thus
there are different better way of calculating the stockroom, order and the financial requirements.
For betterment of organisational performace, Ledbury Restaurent is concern over implementing
effective ways like the online process maintain is the best option for the restaurant to keep the
data of employees safe and also offers online food facility which helps the business to creating
consistency in the supply chain of the business.
Opportunity: Opportunities are the primary recognition of the business as looking for effective
opportunity helps the restaurant in increasing its profit and revenue. Likewise, exploring and
rendering different type of food and beverage items. Taking benefits of trends in the health and
wellbeing of people and featuring organic and healthy food items in the menu of the restaurant.
Developing customers crowed of the business for receiving more orders are also an opportunity
for the business, however, for increasing the opportunity for the business the idea of online food
deliver will support the business in the slow time of the pandemic situation of COVID 19. Thus
the online food facility will helps the business to increasing the profit via satisfying the
customers through rendering suitable facilities to their customers (Lee, Hallak and Sardeshmukh,
2016).
Threats: This defined as the external factor which has direct impact over the operations and
progression of the business. Threats are the weakness of the business which hampers the
opportunity enhancement for the business. Increasing the number of British cuisine within the
similar locality is the key threat for Ledbury Restaurent as the development of business has
influences with the increasing operations of rivalry. Wide range of offerings from the rivals is
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also determined as another threat for the business. For resolving the threats of the business,
Ledbury Restaurant is decide to offer online facilities to the customers with increasing the range
of healthy food with offering them suitable offers and vouchers. Therefore, the idea will help the
business to attain higher competitive edge with increasing the traffic of the customers.
Although, the SWOT analysis helps Ledbury Restaurant in analysing the internal and
external aspect of the business, which helps the restaurant in enhancing the opportunity for the
new idea related to offering online facilities to the customers and attain higher growth and
success.
External Market Analysis
External market analysis mainly defined as examining the industry environment of a
company, involving different factors likewise, competitive structure, competitive position,
dynamics, and history. Therefore, an external evaluation is an objective assessment of the
changing world in that an organisation operates its operations for the intention to have an early
warning system for analysing the potential threats and opportunity within the market (Santeramo
and et. al., 2018). For determining the business growth for Ledbury Restaurant external market
evaluation is efficacious in evaluating the present market trend, environment, social trends and
the needed political practices. Therefore, it is important for Ledbury Restaurant in finding out the
growth of featuring new online food delivery facility with the operations of the business to gain
growth and success. For effective execution of external analysis for the new featuring of online
food delivery of Ledbury Restaurant, PESTLE analysis is the most appropriate tool to evaluate
the external aspects. thus the analysis covers different aspects i.e. political, economical, social,
technological, legal and environmental components, the suitable evaluation of these aspects are
defined as under:
Political Factors: Political factors can widely affect the restaurant business anywhere in the
globe; there is assorted example s of political aspects like tax reform and health and safety
guidelines. A few things which have influence over the restaurant are the tax reforms and the
health regulations (Camillo, 2012). The policies and norms are change as per the change arises in
the environment or the political government, thus the UK food industry is mainly obligated to
follow food hygiene legislations that are fixed by the standards agency and the equivalent
European Union regulation likewise general food regulations. For maintaining the effective
performance of Ledbury Restaurant during the pandemic situation of COVID 19 safety and
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security measure are required to be observed by the business to offer effective facilities to their
customers. In the outbreak of corona virus the health grading systems are changed and for
maintaining the online operations of Ledbury Restaurant to attain higher growth and success.
Economic Factors: This is also an another key aspect of external evaluation, thus here are
multiple outside economic aspects which has wider influence over the business like minimum
wage and the health of the economy are that needs to have a huge influence over the
performance of restaurant. The United Kingdom is the 5th widest economy in the globe through
the nominal GDP. However, the fiscal norms of the government can affect the organisational
restaurant business (Cheng And et. al., 2019). As per the guidance of the fiscal policy the
restaurant business needs to put charged in the form of tax over the food and the purchase of the
buyers and the taxes would be significant for the business to increase the rate of food items.
However, the increase of decrease in the inflation rate can also affect the business operations,
thus the prices of products and services are directly affects the whole revenue of the business.
For increasing performance of the business without facing any kind of economical harm, it is
important for Ledbury Restaurant to keep the prices of the product low. However, in the primary
level of offering online facilities it is important for the business to provide suitable offers and
facilities that are significant to attract more customers towards the firm and its offerings.
Social Factors: The United Kingdom has a wide buyers market. As per the data released in the
year of 2019 by the Office for National Statistics, the population of the UK was estimated of
around 66.4million in 2018. Births continue to outnumber deaths and the population is expected
to reach at 74 million by 2039. The population is getting older as well. The current social orders
have continually embrace new frameworks and styles of living, there are elevated levels of
culture dissemination as individuals exchange and interface. In the cutting edge period
individuals are mostly worry towards compelling and great food things just as they are
additionally turning out to be wellbeing cognizant so individuals principally searching for natural
items and needs the powerful quality in sensible costs (Verma and Gustafsson, 2020).
Nonetheless, for settling the difficulties of social factor it is significant for The Ledbury
Restaurant is concern over enhancing the reputation of the business within market and for this
they are concern over featuring the suitable facilities and products in their menu, subsequently
this will assist the business with improving the general exhibition by means of expanding the
surge of customers over online food delivery process of the business.
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Technological Factors: In the modern and civilised world, there has been the growth of
technology system to undertake assorted activities with the business context. Therefore,
technologies have transformed the way of conducting business and the implementation of
technological advancement helps the business to conduct easy operations. Ledbury Restaurant
operated for so long and offering dining facilities to the customers and in the pandemic situation
of Corona virus the operations of the business has affected widely and the idea of providing
online food facility to the customers will add benefit to the business in increasing the sales and
revenue of the business (Chen and Elston, 2013). The technological advancement will help the
business in effectively receiving online orders from the customers and also provide effective
response over their request. The online process will also be significant for the business to make
changes in their offerings as per the feedback from the buyers.
Environmental Factors: The consideration regarding the internal and external environment of
the restaurant. Therefore, people are very much attracted towards the view and the uniqueness of
the restaurant where they want to spend time. Ledbury Restaurant is located within the prime
location of London where the view of London is looking so attractive and this is the major
attraction to the customers. The business also needs to maintain the effective environment needs
to put some plants insights of the restaurant, use attractive lights and many other decorative
materials to enhance the attraction of customers.
Legal Factors: In the context to the hospitality business, quality maintenance is the primary
consideration of the business. There are different legal prevalence like food safety act, consumer
right act, health and safety act, which are needs to be considered by the business to conduct
operations in effective manner. For maintaining effective business performance, it is essential for
Ledbury Restaurant to executing suitable legal norms and policies that are needed for the
business to operate online process effectively and also ensure to implementing the safety during
the pandemic of COVOID 19 (Tussyadiah, Kausar and Soesilo, 2018).
As per the internal and external analysis executed via the support of SWOT and PESTLE it
has been evaluated that, the internal and external analysis helps the business to gain effective
opportunity to expand within market. Therefore, via analysing both positive and negative aspects
within and outside of the business, the company can able to implement the suitable strategy to
handle the predicted situation. However, in the context to Ledbury Restaurant London, the
internal and external analysis helps in evaluating the new idea of launching mobile application
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facility to offer suitable facilities to their customers in the current pandemic situation and attain
long term benefits via managing regular sales of the business. The idea of launching online food
facility is considered to be the effective idea for the business to keep running the business in
pandemic of COVID 19 and also attract more and more customers towards the firm and its
offerings.
Risk Analysis
Risk evaluation is recognised as the study of the underlying uncertainty of a given course
of action and refers to the uncertainty of forecasted cash flow streams, that variance of portfolio
and the stock returns, the probability of a project’s success or the failure and the possible future
economic states. For managing effective operations of restaurant it is important for the Ledbury
restaurant to effectively considering risk analysis to overcome with the challenges that are
mainly faces by the business (Kandampully, Zhang and Bilgihan, 2015). There are multiple risk
aspect which are requires to be obligated by the business are defined as below:
Employment Risk: This is the prime risk which is mainly being faced by the restaurant
businesses and it has wider influence over the operations of the business. Ledbury Restaurant is
operated with a small level and facing the issue of appropriate staff strength and the potential
experience require, therefore, resolving the challenge Ledbury is concern over improvising the
hiring process and focused over hiring people with appropriate skills who are able to enhance the
operations of the business.
Financial Risk: This also recognised as the imperative aspect which needs to be considered by
the business in the implementation of suitable operations. Therefore, Ledbury Restaurant is
facing the issue of financial risk and for overcome the challenge of finance, the business needs to
manage appropriate funds which will help the business in the time of issue and crises (Phillips
And et. al., 2017).
Supply Chain Risk: This also evaluated as the considered issue for the organisations within
restaurant business as in this suitable assessment of the products includes food, beverage,
veggies, food ingredients etc. However, all the aspects are needs to be managed by the business
to manage the suitable food chain. Furthermore, the business also requires to fix the delivery to
the buyers for rendering suitable facilities to reaching at the potential needs.
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