Strategic Management Chalenges
Entrepreneurial standpoint and use of restaurant Zeytin as a model and how we would use a strategic planing model to help decide what market to expand into (open another store in). http://www.zeytinturkishrestaurant.com
Can you help me to do it according to the attached strategic plan?
Application of the Strategic Plan to the entrepreneurial entity: Here focus on the small business - on the entrepreneur who knows they should plan strategically - but often just cannot find the time to do it... or does not have the patience (or perhaps skill/knowledge) to do it effectively. How would you advise/work with such a firm? What models and elements of the planning process would you use?
Do not go step by step thru a strategic plan - The focus is on how to apply the plan to a small business environment.
Expanding a business is among the toughest yet most rewarding business decisions if well executed. Firms operating in competitive markets environments are often concerned with leveraging their core competencies in these markets to compete. For this to be possible the companies need to not only adhere to the regulations of doing business in their operating environments, but also to leverage their strategic advantages and strengths in these markets to take advantage of opportunities available and handle any threats and weaknesses in the market. The business landscape in international businesses is often diverse and challenging due to the different ways of doing business that need be adhered to and these have to be aligned with company's strategic business objectives (Daniels, Radebaugh, & Sullivan, 2010). This paper analyses a strategic planning model to help decide what market Zeytin Turkish Restaurant should expand into.
Overview of Zeytin Turkish Restaurant
Zeytin Turkish Restaurant is an exotic restaurant with an eastern Mediterranean food portfolio. The menu mainly boost of cuisine type Turkish food experience ranging from entrée, wine, appetizers, soups & salads and Deserts. Notable Turkish dishes served in this restaurant are lamb meat, adana-rice kebab, baklava, gyro meat and pita bread (Trip Advisor, 2012; Zeytin Turkish Restaurant, 2012).
Zeytin Turkish Restaurant is full restaurant with semi casual features, full bar, full menus of appetizers, deserts, kebabs, entrees, and beverages where the food is prepared when the order is made, and customers waited upon by friendly waiters. Zeytin in Turkish implies "olive", and just as its name symbolizes, Zeytin Turkish Restaurant has a serene quieting environment due to internal decorations with the internal atmosphere and the sitting arrangements consisting of booth, pillows and rugs giving customers an exotic Turkish experience. The restaurant also provides catering services for large party deliveries and is strategically located in Ada Opposite the Alticor headquarters (Ankerberg, 2007).
Mission: To provide delightful authentic Turkish food selections in a friendly exotic and ecletic atmosphere encompassing of superior service with customer satisfaction being the main goal
Vision: To be leading and most preferable exotic Turkish restaurant of choice in the United States with a unique quality higher superior customer service and efficiency in operations.
Values: the business is founded upon four key values and principles: customer delight, service and satisfaction, integrity in business dealings, respect for all and striving for excellence and greater value in food service.
Zeytin established in 2006 by Ufuk Turan is currently located in Ada with only a single restaurant store in the region. The store has been performing well locally especially with the changing preferences of American dinners to eat out rather than in. Estimates show that the restaurant currently makes estimated revenues of less than $500,000 per year employing approximately five to seven employees (Manta, 2012). Its performing though is good taking into account that it has been in operation for only five years now and has grown.
Ada's long term goals are expand from city to city to be the preferred Turkish restaurant in the US. With company having been in operation for five years and revenue and profitability grown in this market, the company seeks to expand its national operation levels by opening up a new store in another location.
It is imperative that when planning to expand a business that external forces impacting that business be clearly understand so that the business can be able to strategically plan how it will be able to tackle or comply with such forces in the market. For Zeytin, the external forces that influence that way it does business is as shown below:
Political and legal factors: political and legal factors impacting on the business include the government controls, regulations and influences on the business and for Zeytin Turkish Restaurant just like other restaurants in the industry; these include health regulations regarding food preparations, sanitations, proper food storage, and other regulations such as tax laws and labor laws. political factors that influence the business and the numerous support and lower tax burdens that accrue to smaller entrepreneurial businesses while the major risks in this business are meeting the required health standards in preparation, serving and storage of food (How find, 2012).
Economic Factors: The American economy is one of the high earners economies which implies that they have a higher disposable income and thereby ...
The expansions of a restaurant strategic plans are determined.