SWOTT Analysis, internal & external forces for Restaurant
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New BBQ restaurant business: SWOTT Analysis, internal & external forces
? Conduct an internal and external environmental analysis for a new bbq restaurant proposed business.
? Use the information obtained from your internal and external analysis,from the Considerations of a Strategic Plan: List assignment.
? Create a SWOTT table summarizing your findings. Your environmental analysis should take into account, at a minimum, the following factors. For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
o External forces and trends considerations:
? Legal and regulatory
? Global
? Economic
? Technological
? Innovation
? Social
? Environmental
? Competitive analysis
o Internal forces and trends considerations:
? Strategy
? Structures
? Processes and systems
? Resources
? Goals
? Strategic capabilities
? Culture
? Technologies
? Innovations
? Intellectual property
? Leadership
? Write a synopsis in which you analyze at least seven of the forces and trends from the list above. Your analysis must include the following:
Include economic as well as legal and regulatory forces and trends.
Critique how well the organization adapts to change.
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; and test the accuracy of the importance for each classification.
This doesn't have to be a long paper -- give the main ideas in each section.
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Solution Summary
Create a SWOTT table summarizing your findings. Your environmental analysis should take into account, at a minimum, the following factors. For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
Solution Preview
Strengths:
1) Innovative technology, high quality food made from high quality and fresh ingredients, competitive pricing, wide range of items in the menu
Weaknesses:
Lack of brand name and recognition
Lack of financial resources for advertising and expansion
Lack of ability to attact best talent in the industry due to lack of brand name.
Opportunities:
Opportunity to establish itself as a pioneer in the area in the BBQ segment by offering high quality cuisine at competitive prices
Opportunity to attract health conscious consumers by offering healthier menu items.
Threats:
Threat from existing competitors in the area
Threat from poor economic conditions and rising concerns about healthy eating habits.
Trends:
In the recessionary times, people are spending less on restaurant meals. Further, people are opting for healthier menu items now a days.
Let us discuss each of the seven selected forces and trends one by one.
Legal and Regulatory:
The newly opened BBQ restaurant has to comply with all the regulations applicable to the business in the area as well as regulations applicable for running a restaurant. Non-compliance with any of the regulations can result in penalties, fines as well as closure of business. The organization has to ensure that it adheres and complies with all the prescribed regulations pertaining to operating a business and fulfill all formalities, licensing requirements and quality standards related to the industry. ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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