STRATEGIC PLAN

Strategic Plan



Strategic plan

Introduction

This paper is going to provide a detail analysis of a 'spots bar type food restaurant'. The balance score card system format is going to be used. The SWOT analysis will be developed for the restaurant and it will incorporate the balance score card system and its aspects accordingly. The name of the restaurant will be 'Hot-shots'. (Bhidé, A, 2000)The concept behind the selection of the name is that it reflects the energy and also it relates with the theme of the restaurant which is “sports bar type restaurant”.

Discussion

In strategic plan for the restaurant we have used the balanced score card system and prepared a detailed SWOT analysis. It's a management system which is extensively used in the business world these days. It allows the companies to better manage their resources. (Schaper, 2004)The organization that is using the score card system includes governments and non-profit organizations as well. The balance score card system aligns the mission and vision of the company with the operation of the company. (Zeithaml, 2000)

Mission

"Do the Right Thing!" By doing the right thing, it incorporates People Excellence within its culture. Applaud your people. Model the behavior you want. Involve others. Grow leaders. Yield -- be flexible. We at 'hot-shots' strive every day to uphold and implement the standards and morals "Here we never cut corners!" We truly believe we are the "Employer of Choice," and you will, too.

Vision

To continuously grow stakeholder value by leveraging the strengths of vibrant, independent restaurant brands.

Analysis of Strengths:

Description:

Brand Name, Trademark and Goodwill

Res. /Cap.?

Why?

Resource, this is something they have built up over the years and can draw upon to gain competitive advantage

Valuable? Why?

Yes. Customers seek distinct menu items produced by 'Hot-Shots'. Also, rivals could not easily replicate the items.

Rare? Why?

Yes. In the quick serve industry, 'Hot-Shots' is the only company with any appreciable brand loyalty.

Imitable? Why?

No. As industry is in mature phase, it would take massive investment from competitors to imitate.

Substitutable? Why?

No. As stated, 'Hot-Shots' is the only restaurant in it's industry group with any appreciable brand loyalty.

R&C Type? Why?

Multiple R&C's

Driver type? How?

Differentiation Driver. 'Hot-Shots' distinguishes its brand name and meal products from the competition.

Value chain location?

Why?

Logistics and marketing as they both tend to support each other in elevating the 'Hot-Shots' brand name.

How important is it to the company?

Vitally important, as customers become attached to the 'Hot-Shots' brand name due to its differentiated products.

How well is the ...