Part 2 of Fuel Restaurant
- Conduct an internal and external environmental analysis for your proposed business
- Create a SWOTT table summarizing your findings from a self-analysis on the factors (Using the list below as an example) that must be taken into consideration while developing a strategic plan for your selected business
- Identify four (4) factors and for each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in a table
External forces and trends considerations:
• Legal and regulatory
• Competitive analysis
Internal forces and trends considerations:
• Processes and systems
• Strategic capabilities
• Intellectual property
Write a synopsis in which you analyze at least seven of the forces and trends from the list above. The analysis must include the following:
o SWOTT analysis table from above activity
o Economic as well as legal and regulatory forces and trends
o Critique how well the organization adapts to change
o Analyze the supply chain operations of the organization
o Identify issues and/or opportunities:
Identify the major issues and/or opportunities that the company faces based on your analysis above
Generate a hypothesis surrounding each issue and research questions to use for conducting analysis
Identify the circumstances surrounding each issue; classify the circumstances; attribute the importance
of each classification
1) Unique menu that not only scores high in terms of health benefits, but also in terms of taste.
2) Innovative cuisine which is difficult to match by competitors in terms of quality as well as taste.
3) Adequate financial resources and strong managerial/leadership capability to sustain through the startup phase.
4) Efficient use of technology to obtain strategic and competitive advantage.
1) The firm is new with no established brand reputation and goodwill in the marketplace.
2) The firm's menu focuses on healthy and organic cuisine. There is a general perception that organic and healthy food is boring. Hence, consumers may not be convinced about the taste aspect of healthy or organic food.
1) Increasing trend among consumers to opt for healthy and organic food in restaurants provides a huge opportunity for the restaurant. The consumption of healthy and organic food is increasing.
2) Innovative and unique cuisine that scores high on taste as well will draw attention of those customers as well that go for regular cuisine and avoid healthy food at restaurants due to lack of taste.
1) Competition from organic and healthy food related restaurants in the vicinity as well as other restaurants is a major threat for the company because they will try to imitate the idea and try to offer similar cuisines to the customers.
2) The company can attract regulatory or legal action if the claims made by the company regarding the authenticity of organic food is challenged and the company is unable to verify the authenticity of its organic products. This can happen because the company is dependent on its suppliers and vendors for sourcing many of the authentic organic ingredients and thus, cannot directly verify the authenticity of the organic ingredients used by the restaurant.
3) Economic environment conditions such as a recessionary period can pose a significant threat to the company because people cut down on their restaurant spending during tough economic times.
4) A lack of adequate supply of authentic organic ingredients can threaten the growth of the firm because it will not be able to offer authentic and unique cuisines to its target customers on a regular basis.
1) The consumption of organic and healthy food is a significant trend across the ...
Presents SWOTT analysis of a restaurant.