Strategic Plan- Part II: SWOTT Analysis

Table of Contents

External forces and trends considerations3

Legal and regulatory3

Global4

Economic4

Technological5

Innovation6

Social7

Environmental8

Internal forces and trends considerations9

Strategy9

Structures10

References12

Strategic Plan- Part II: SWOTT Analysis

External forces and trends considerations

Legal and regulatory

Strength

Weakness

Better results of health inspection

Not being financially capable of obtaining legal and regulatory certifications

Opportunity

Threat

Certifications from the local, state and federal government/bodies and regulatory agencies such as HACCP, ISO, etc

Legal actions and fines

Trend

Customers consider that the restaurant has gone the extra mile for assuring the safety of the food being served

The industry of food products and restaurant industry are subject to a number of local, federal and state regulations and laws. Observance with these regulatory and legal prerequisites might be much expensive than expected. The failure in retaining and / or obtaining permits, licenses or different regulatory and legal permits can prevent or delay the restaurant's opening and / or the restaurant's continued functioning. The restaurant's failure of complying with the regulations and laws that are applicable can even ensue in legal actions or fines, which can negatively impact the operations, financial position and results of operations (SETUPmyRestaurant, 2013).

Global

Strength

Weakness

Global representation

Not having reliable labor force and adequate finances

Opportunity

Threat

Greater growth potential in the overseas market

Pricing issues, legal and cultural differences

Trend

Chains of restaurants are moving quicker as compared to their competitors for expanding globally

Few restaurants, as compared to their competitors, are moving much quickly in order to expand in other regions of the globe. Although almost each restaurant company in the United States is in any case considering global moves due to the domestic market remaining comparatively stagnant. Growing globally might be the future's wave, although it is not devoid of challenge, from the international pricing issues and food supply to legal and cultural dissimilarities, which could make the operations abroad intricate. This depends on the location in which the restaurant is seeking to expand, the challenges could even comprise of insufficient accessibility to dependable labor force, finances, dietary and religious dissimilarities and uncertain chains of distribution, which require menu customization (APT, 2012).

Economic

Strength

Weakness

The proposed restaurant business is opening in U.S that has a strong economy

Maintaining quality and hygiene is costly, hence increases the fixed costs of the restaurant

Opportunity

Threat

Favorable changes can reduce costs, increase customer traffic and allow to restaurant to offer discounts and promotions

Changes in local, national and regional economic conditions, consumer preferences and consumer spending patterns

Trend

The costs of electricity, natural gas, gasoline, and different energy prices are progressively increasing causing restaurants to shrink their profit margins

The outcomes of restaurant operations rely on numerous general and industry specific economic factors, a number of which cannot be controlled. The proposed restaurant business gets impacted by changes in local, national and regional conditions of the economy, consumer preferences and consumer spending patterns. Rising interest rates, inflation, increased energy prices, decreased wage rates and salaries, increased unemployment, a worsening economy, a protracted economic slowdown, recessionary economic cycles or different industry-wide cost pressures decrease spending and impact consumer behaviors for dining occasions, ensuing in the earning and sales decline of the proposed restaurant business. When electricity, gasoline, natural gas and different ...