An Introduction to Business Studies
By Student Name
TMA01 – Part 1
CONTENTS: Page No.
Part I – Report on Lodge Bistro3
Summary & Introduction3
Part (a) Identifying the problem3
Part (b) Concepts applied to issues identified3
Part (c) Recommendations3
Part II: Contribution & Understanding - TGF4
Part I – Report on Lodge Bistro
To Patricia Lodge
Summary & Introduction
In this report, I hope to help you understand the current issues and problems of the Lodge Bistro Chain. The obvious problems affecting the business are: high staff turnover, growing competition, external environment due to the current economic climate, inconsistency in the approach of management, a dated concept, reduced spending by customers, disagreement between managers and company standards lowering
Part (a) Identifying the problem
The current staffing problems with the company is affecting the business in many different ways, both the internal and external environment. The staffing problem, more specifically the higher than normal staff turnover, is having a major effect on the expenditure of the company. The constant training programme could influence current staff morale with the additional workload during peak times. The customer service will also fail in quality and consistency due to this problem. Having both inexperienced and overworked staff will affect the quality of service given, resulting in the possibility of damage to reputation and brand image which may discourage future potential customers.
Part (b) Concepts applied to issues identified
I have chosen is a SWOT Analysis (Wikipedia) which is a process that will give the Lodge Bistro Chain an overview of its position within the internal and external environment. The Strengths and Weaknesses, which relate to the internal factors of the business, as well as Opportunities and Threats, which relate to the external factors will help eliminate these through the SWOT Analysis tool. Strengths are qualities that help to achieve the core principles and objectives set by the business as well as helping the company achieve its full potential. The Weaknesses of the business, are the functions that prevent the accomplishment of the core principles and objectives, and prevent the business achieving its full potential. Opportunities are circumstances that can be advantageous to the business, to become more competitive and, or profitable. Threats are the circumstances that are out of the business’ direct control and the company needs to strive to combat these.
| Strengths | Weaknesses | | Loyal Customers |Dated Concept | |Employee Reward |Bad Management | |Strong Brand |High Staff turnover | | |Falling standards in food and | | |customer services | | | | | Opportunities | Threats | | Image overhaul |Growing Competition | |Healthier Options |Reduced Spending | |Marketing and |Recession | |Advertising | | |Campaign | | |Low Cost Snacks | |
Part (c) Recommendations
In order to resolve the outlined problems and put the business back the road to recovery, the following measures should be introduced: • A complete reorganisation of...