It concentrates on your Strengths, Weaknesses, Opportunities and Threats. Currently the core issues facing the Bistro revolve around the following: 1) High turnover of staff, which is affecting overall morale and quality standards. It is also creating extra expenditure in the form of repeated training sessions required and lost man hours required of existing staff. 2) Outdated decor and concepts, restricted geographic locations, and increased competition offering more modern and fresh ideas to a wider demographic, are impacting sales. ) Inconsistent approaches by both management and staff dealing with a smaller niche customer base, with a lower disposable income. 4) Failing to deal with issues that have arisen in the middle of an economic recession. Part (b) Understanding the Problems A SWOT analysis and its interpretation will assist in identifying the issues and their relevant resolutions. It will then allow for decisions to be made, in allocating finite resources, and focusing them in either bolstering strengths or fixing weaknesses.
This will then help determine opportunities for growth and expansion and ways in which to deal with threats to the business. SWOT ANALYSIS FOR LODGE BISTRO CHAIN STRENGTHS Well established concept Loyal customer base Company prestige 25 Established restaurants Long serving staff and management WEAKNESSES Inconsistency in Management style Staff turnover Outdated decor Business concept not distinctive anymore OPPORTUNITIES Changing the core market Merging of old and new management style Utilise social media for valuable customer feedback Staff retention/reward program
The Business plan on SWOT (Strengths, Weaknesses, Opportunities, And Threats) Analysis Axia College
The business plan is highly-detailed, written statement that explains the purpose of creating a new venture, either a new company or a new project in an existing company which will provide products to customers. A business plan contains several important kinds of information according to the Axia College text (2009): A business plan explains the new venture or the business of a company model ...
Expanding the business into the 21st Century by means of social media and online presence THREATS Large restaurant chains Falling standards Low staff morale Loss of long serving management and staff to the competition Part (c) Addressing the Problems Here are some examples that you might like to utilise: * Brand rejuvenation while still keeping to your original core values. * Expanding your product range to included healthier more affordable products. * Institute an employee rewards program. * Creating a platform that allows new and old management to merge fresh ideas with experience and knowledge. Support new ideas from customer feedback and incorporate. * Engage the business in online marketing opportunities including social media and a corporate website. ‘Another importance of social media marketing is the fact that it will allow you to discover your customers’ preferences so that you will be able to act based on what they want. By knowing their preferences, it will be much easier for you to enhance all of your products and plan your marketing campaigns more effectively’. Silvia Pencak, (2011), ‘The Importance of Social Media Marketing’, www. mymagneticblog. om * Address location of current bistros and maybe expanding nationwide. There seems to be many different aspects of the business that can be addressed. Focusing on the most urgent areas will give you a better stronghold in the business environment you currently have to contend with. PART II TGF 1. 3: CHANGING CULTURE The culture of a company is an essential part of its core values and beliefs, as long as it is clearly defined and communicated. Analysing the discussions of fellow students made me realise that we all agree about one very important part.
The Term Paper on Social Media Changing the Way We Do Business
The purpose of this paper is to point out the employers versus the employees’ point of view in regards to the analysis of law, ethics, and social responsibility. Not since the industrial revolution has there been such a shift in how business and commerce is being done. Social Media and User Generated Content shifts the paradigm of business away from product seeking customers’ commerce to the ...
The authority and vision of the owner or management will have the most significance when it comes to values and beliefs that the business wants to promote. The employees then form a crucial part of the culture we identify the company by. This becomes such an integral part of the business culture that the employees act autonomously while still uniformly. Changing the culture can either be a conscious decision or not, but change is possible if the company’s culture can be aligned with its core objectives. A business that has a set objective and can anticipate change will prevail against any current or future cultural advancement.
