Strategic Planning Outline for a New Division of a Restaurant

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This report presents a strategic plan for a new division of an Indian restaurant, Curry Heights, focusing on contemporary frozen snacks. It explores the new service proposal, targeting customer needs and leveraging competitive advantages through product differentiation, specifically offering rare meats. The report outlines the vision to be the leading provider of snacking food, and a business model emphasizing online customer acquisition and potential national expansion. It highlights the alignment of the new division's mission and vision with the parent company's goals, aiming for increased market penetration and revenue growth. The strategic direction emphasizes product differentiation and profit maximization, with considerations for corporate social responsibility and a flexible, values-driven culture. The report concludes that the new division presents a viable opportunity for the restaurant to expand its offerings and reach new customer segments.
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Running head: INTEGRATED BUSINESS
Strategic Planning Outline for a New Division of a Restaurant
Student’s name
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Table of Contents
Introduction................................................................................................................................................3
New service proposal................................................................................................................................... 3
Customer needs & Competitive advantage.......................................................................................4
Vision and Business Model.....................................................................................................................5
Vision................................................................................................................................................................ 5
Business Model.............................................................................................................................................. 5
Alignment of division’s mission and vision to company’s...........................................................6
Organization mission, vision, values and new division strategic direction.........................6
Conclusion....................................................................................................................................................7
References....................................................................................................................................................8
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Introduction
With technology advancements the organizations have realized the value of innovation. It
is important that organizations should focus on effective strategic planning so that it can achieve
its goals and objective. It is interesting to analyse the importance of innovation for small scale
businesses. Unlike the large businesses, the small-scale businesses do not have the budgets and
therefore, innovation is the key for small businesses to flourish (Wolf & Floyd, 2017). The
objective of this paper is to discuss the use of innovation for a new division of an existing
company. In recent times, hospitality industry has grown rapidly. Many marketplaces create
product and services to attract different customer segments based on price points and product
mix. Therefore, it would be interesting to analyze the new division for a restaurant.
New service proposal
This paper is focused on a new division of an Indian restaurant in New York. The
selected restaurant is Curry Heights and the new division is contemporary snacks made from
frozen food. The frozen snacks are established food for American consumers. However, the
Indian restaurants in USA have not fully concentrated on frozen snacks. The mission of this
division is to provide best quality contemporary frozen snacks like fish chilly (rare fishes that are
not easily found), rare meats to the consumers (Wolf & Floyd, 2017). People can usually find the
rare meat when they are on vacation. With this division, consumers would have access to rare
meat at the restaurant itself. The division would focus on customer acquisition through online
channels. The restaurant, Curry Heights, has already made significant impact in terms of brand
recognition and brand recall. However, for untapped customers online website will do its work.
Online offline retailing would not work. Blick is the new criteria. The digital marketing strategy
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will help this divison of Curry Heights to increase traffic to brand’s website and conversions. It
will help in generating brand loyalty at the restaurant. Digital marketing for Curry Heights would
involves SEO i.e. Search Engine Optimization, SEM i.e. Search Engine Marketing, blogs,
content building, promotional campaigns and Social networking sites.
Customer needs & Competitive advantage
The access to food is the basic need of consumers. The division of frozen food would
address the basic need of customers through an innovative way. The idea is to source the rare
meat from different parts of the world, process the meat to keep it fresh in frozen conditions, and
then transport to Curry Heights. The organization would be able to achieve competitive through
product differentiation strategy. This product differentiation is achieved through the use of
innovation. Papke-Shields & Boyer-Wright (2017) argued that the concept of innovation allows
the business to measure the speed of learning, and measurement of speed of learning is important
to make future step for an established business, as it may help to improve business decisions.
Suarez, Calvo-Mora & Roldán (2016), mentioned that innovation is vital for a start-up business,
as they do not have any previous data to compare their success rate, but the measurement of
innovation against the market need and financial structure of the business helps the new business
to make effective business decision in terms of innovation in product and business process. On
the other Wolf & Floyd (2017) argued that innovation demands more cost from the business and
makes negative effect on financial stability of a start-up business. Therefore innovation is not the
beneficial management practice for the new business. In the case of new division of Curry
Heights, innovation is the key for their competitive advantage strategy of product differentiation
as it helps them to offer unique product in the market.
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Vision and Business Model
The objective of the business is to provide rare food to people that they cannot have
otherwise. For example, Indian King fish is not available in American market. With the concept
of frozen food, people can actually have the Indian fish at Curry Heights. The specific vision and
business model of this new division can be discussed as:
Vision
The vision of this division is to evolve as the best solution across New York to satisfy the
snacking food preferences of consumers.
Business Model
The business model of this division is establish a snacking arm of Curry Heights. In the
long term, this division would have its own branches across the country. It can happen only when
the business model accounts for all the money flow in the eco-system. Thus, innovation
accounting effects on financial policies of the organisation to by measuring all the positive and
negative outcomes of innovation. As per the literature review innovation accounting is useful for
the start-up business, as all the businesses have to be innovative to make the desire image on
customers or other stakeholders. Some of authors have different views as they think innovation
effects negatively on new business, but Johnsen (2015), observed that innovation accounting
helps the new business to make their business effective in terms of financial functions by
providing data based decision.Similarly, Jette, Breck & Johns (2015), on his research study
of “Disruptive innovation” it is viewed that food and beverage industry has increased their
liquidity by more than 42.3% due to application of innovation accounting.
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Alignment of division’s mission and vision to company’s
The organization has a mission to expand across the country with multiple branches of
Curry Heights where people can enjoy Indian food. The organization, Curry Heights has a simple
vision to be the best Indian restaurant of choice for consumers who like Indian food in United
States of America. Dibrell, Craig & Neubaum (2014) suggested that precise mission and vision is
the process of making the business effective against the market demand. As per the collected
data by secondary research work, there are different effects of mission and vision on financial
performance of the company. The mission of the new division is also based on increased
penetration in the country and the vision is also based on preferred choice for consumers.
Therefore, it would be correct to say that mission and vision of the division aligns with the
mission and vision of the company.
Organization mission, vision, values and new division strategic direction
The new division has the objective to establish product differentiation in the market. The
division wants that it should be able to target new consumers with its unique product positioning.
The strategic direction of division is in line with the overall strategy of organization to achieve
revenue growth. Ultimately, the organization and the division have the same objective of profit
maximization. Abdallah & Langley (2014) argued that a business can make desire profit and
other positive outcomes such as customer satisfaction, customer attraction, and customer loyalty
by fulfilling the market demand. It helps the business to earn revenues against the investment.
The innovative accounting monitors all the process and requirements while implementing
innovation in business process or new products. It also takes care of financial requirements that
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are associated with innovation. Hence, innovation accounting and financial management has the
positive relation to run the business process for both restaurant and the new division.
New division in context of culture, CSR and ethics
The focus on CSR (Corporate Social Responsibility) is a big thing for the new division as
the objective is to emerge as a sustainable business player in long term. The idea of the new
division is to have a flexible culture in place wherein the employees of this division can work
effectively and efficiently with the employees of the restaurant. The division would imbibe the
same values so that the friction among the employees is minimal.
Conclusion
The above paper discusses the strategic direction of a new division of Curry Heights, an
Indian restaurant in New York. With the above discussion it can be said that the new division as
a good idea of providing rare frozen food to consumers. The paper also discussed the mission
and vision of the new division and its alignment with the mission and vision of the restaurant.
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References
Abdallah, C., & Langley, A. (2014). The double edge of ambiguity in strategic planning. Journal
of Management Studies, 51(2), 235-264.
Dibrell, C., Craig, J. B., & Neubaum, D. O. (2014). Linking the formal strategic planning
process, planning flexibility, and innovativeness to firm performance. Journal of Business
Research, 67(9), 2000-2007.
Jette, A., Breck, A., & Johns, R. (2015). Integrating balanced scorecard performance
management with crowdsourced strategic planning. In Proceedings of the Transportation
Research Board Annual Meeting (Washington DC).
Johnsen, Å. (2015). Strategic management thinking and practice in the public sector: A strategic
planning for all seasons?. Financial Accountability & Management, 31(3), 243-268.
Papke-Shields, K. E., & Boyer-Wright, K. M. (2017). Strategic planning characteristics applied
to project management. International Journal of Project Management, 35(2), 169-179.
Suarez, E., Calvo-Mora, A., & Roldán, J. L. (2016). The role of strategic planning in excellence
management systems. European Journal of Operational Research, 248(2), 532-542.
Wolf, C., & Floyd, S. W. (2017). Strategic planning research: Toward a theory-driven
agenda. Journal of Management, 43(6), 1754-1788.
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