Gourmet Palace Ltd

Strategic Management of Gourmet Palace Ltd

Strategic Management of Gourmet Palace Ltd

Introduction

Production/operations management is the process, which combines and transforms various resources used in the production/operations subsystem of the organization into value added product/services in a controlled manner as per the policies of the organization. Therefore, it is that part of an organization, which is concerned with the transformation of a range of inputs into the required (products/services) having the requisite quality level. The set of interrelated management activities, which are involved in manufacturing certain products, is called as production management.

If the same concept is extended to services management, then the corresponding set of management activities is called as operations management. The traditional view of manufacturing management began in eighteenth century when Adam Smith recognised the economic benefits of specialisation of labour. He recommended breaking of jobs down into subtasks and recognises workers to specialised tasks in which they would become highly skilled and efficient. In the early twentieth century, F.W. Taylor implemented Smith's theories and developed scientific management. From then till 1930, many techniques were developed prevailing the traditional view.

Gourmet Palace Ltd

Gourmet Palace Ltd is a new player in the restaurant industry. The restaurant is in a comfortable, familiar, small town that has a strong need for additional dining options. Bolstered by the need for more choices in family-oriented dining experiences, combined with the option for home-delivery, the restaurant is positioned to take advantage of the market need and serve the families in the Town of Freedom area.

The Town of Freedom's population is rapidly growing with new subdivisions and young families moving to the rural suburb of the Appleton area. It is Gourmet Palace Ltd's strategy to exploit the first-mover opportunity and establish itself as the preferred pizza provider to the area. We believe a locally-owned restaurant is the best option to serve the rapidly growing population with a fresh, unique menu as opposed to a national chain franchise. (Griffin et al, 2005)

This business plan calls for an exciting, profitable start-up year ahead with future forecasted growth as we meet the demands of the community. In all, this plan describes a healthy company with good growth prospects, looking to manage its orderly growth in the near future.

The keys to success in this business are:

Delivering the customer value proposition.

Marketing: promoting a new company, product, and delivery channels to a rural community.

Product quality and consistency.

Pricing effectively with respect to the project quality and customer value proposition.

Family-oriented atmosphere with occasional nights of family entertainment.

Management: products delivered on time, costs controlled, marketing budgets managed. There is a temptation to fixate on growth at the expense of profits.

Reporting and controls in place for inventory and financials.

Operation Strategy

The most crucial question in starting a business is also by far the hardest to answer. What business? The question applies equally to the company that's soldiered on for years, staying put and staying small - or smaller than its owner would truly like. The same effort, applied in a more fertile field, would generate better results. The problem is finding the ...