Business Growth Strategy for The Ledbury: MKT4007 Project Proposal

This project proposal outlines a research plan to explore business growth opportunities for The Ledbury restaurant. The research focuses on developing a product-based growth strategy, analyzing the restaurant's potential in the market, and assessing its financial performance. The project will employ several analytical frameworks, including SWOT analysis, VRIO framework, PESTLE analysis, and Porter's Five Forces, to evaluate the internal and external environments. Risk analysis, including employment, supplies, and financial risks, will also be conducted. The study aims to determine the most appropriate growth strategy, with a focus on differentiation, and will utilize both desk research and secondary data sources. The project timeline includes four weeks for research topic selection, two weeks for literature review and data collection, three weeks for analysis, one week for discussions, one week for recommendations and conclusions, one week for report compilation, one week for feedback and review, and the final week for submission.

MKT4007 Entrepreneur Research Project
Registration of proposed research subject
I am undertaking a research on emerging business opportunities for The Ledbury.
Proposed subject
The proposed subject for this project proposal is “Business growth strategy for The
Ledbury by the means of product development’’
Justification for your selection of company/brand/tool:
After examining the business trends of restaurant for past two to three years and
assessing its financial performance properly over the similar period, there is
possibility for organisation to develop a new product and catering high quality food
services to customers. The products and services offered by restaurant shows a
possible growth potential on the basis of market analysis. Thus, the restaurant will do
well if it growsits business operations through product development strategy, i.e., by
introducing a new product or service in market.
Currently, the restaurant is catering for the needs of people in London only and
operates its business activities successfully in London from last 15 years. However,
due to spread of corona virus pandemic, the owner said that the restaurant would
remain closed for some time, as it would not be possible to keep staff as well as
customers safe with one-meter of social distancing in place. But, the main reason
behind selecting The Ledbury restaurant is that the restaurant operated successfully
for the last 15 years in London and it has high potential to grow and succeed even in
this pandemic situation.
If the restaurant grows its business by adopting product development strategy
along with providing online food delivery services to customers, then it will attain
high growth and success in London market in future. The restaurant can come up with
home delivery and takeaway services in order to ensure its growth and success. This
strategy will assist restaurant in running is business operations successfully even
during the situation of spread of corona virus pandemic.
Outline analytical framework to be used:

1. Situational Analysis: For analysing the situation of market, SWOT analysis and
VRIO framework will be used in this study. By performing SWOT analysis,
restaurant will be able to determine its strengths weaknesses, opportunities and
threats. This will help company in developing appropriate strategies to overcome the
weaknesses and threats and exploiting opportunities appropriately in order to grow
and succeed in market. The VRIO framework helps in determining the resources and
capabilities of the restaurant and provide it with enormous value by staying ahead of
competitors.
2. External market analysis: For analysing the external market PESTLE analysis
and POTER’S five forces framework will be used. Pestel analysis help in assessing
the external factors that impact on operations and strategies of restaurant. Proper
analysis of these factors assist in leading the business towards growth. Porter's five
force framework helps in determine the competitive forces in the industry and its
weaknesses and strengths. It helps in identifying the structure of industry so that
appropriate corporate strategy can be determined.
3. Risk analysis: Different types of risks will be analysed including employment risk,
supplies risk, financial risk, Brexit, Global environmental change etc. By analysing
the different types of risks, the management of restaurant will be able to develop
appropriate strategies that help in mitigating the risk effectively.
4. Growth strategy: in order to determine appropriate growth strategy for company,
Porter’s Generic Strategy (the restaurant will use differentiation strategy) will
consider in the study. This model consists of three basic strategic options that
restaurant may use to applied on its product and services. Adopting one of the strategy
can help restaurant in growing and developing its business in an appropriate way.
Expected list of data sources:
Hernández, J.G.V. and Garcia, F.C., 2018. The link between a firm s internal
characteristics and performance: GPTW & VRIO dimension analysis. Revista
de Administração IMED, 8(2), pp.222-235.
Kumar, D., 2016. Enterprise growth strategy: vision, planning and execution. CRC
Press.
Salavou, H.E., 2015. Competitive strategies and their shift to the future. European
Business Review.
Shtal, T., Buriak, M., Ukubassova, G., Amirbekuly, Y., Toiboldinova, Z. and Tlegen,
T., 2018. Methods of analysis of the external environment of business
activities.
Online
The Ledbury, 2020. [Online ]. Available on:
<https://www.cntraveler.com/restaurants/london/the-ledbury >

Primary or desk research:
Desk research
Outline timeframe (Gantt chart) to completion:
 Selection of research topic/organisation including research aim, objective
and questions – 4 weeks
 Literature review/ information/ data collection- 2 weeks
 Analysis- 3 weeks
 Discussions- 1 week
 Recommendations/ conclusion- 1 week
 Final report compilation- 1 week
 Feedback and review/ update work- 1 week
 Final submission- last week of term