STrategic management Assignment
Tesvin Philip, Bibin Balan, Faraz.
STrategic management Assignment
As a consulting group, we have come up with a strategy that will help us in starting a new restaurant enterprise. Since we are starting a new venture, we have sorted out our intent (mission and Vision), and the short term objectives and goals. We done a thorough analysis of SWOT and VRIO and also the macro (PESTEL) and micro (5 Forces) environmental analysis leading us to finally evaluate our stand in the BCG and GE Portfolio Matrix. We have also evaluated the Grand strategies and decided to follow Stability and Expansion Strategy. Also After evaluating the Porter’s Generic Strategies, we have decided to take Cost leadership Strategy. All these decision are mentioned in detail in the following pages.
Strategic management, strategizing for short, is essentially about choice—in terms of what the organization will do and won’t do to achieve specific goals and objectives, where such goals and objectives lead to the realization of a stated mission and vision.
1. Strategic Position
A mission statement communicates the organization’s reason for being, and how it aims to serve its key stakeholders. The mission of our Organization is as follows:
* To maintain a healthy relationship with our competitors in the market in order to improve our standards and to provide customer satisfaction. * Increasing the creativity of our employees thereby giving our customers a variety of different cuisines. * Improving the hygienic standards and providing our customers with clean and safe products thereby increasing customer satisfaction.
A vision statement, in contrast, is a future-oriented declaration of the organization’s purpose and aspirations. The vision of our organization is as follows:
* To become a worldwide MNO and to create a healthy environment to make the world a better place to live in. * To incorporate a better awareness among the customers about the benefits about the different varieties of healthy organic food provided by us thereby creating a healthy society. * To maintain a profitable organization at a reasonable cost in a comfortable atmosphere with exceptional service.
Objectives are the desired ends sought through the actual operating procedures of the organization and typically describe short-term measurable outcomes. Our Objectives are:
* Learn about the customer.
* Identify buying habits and dining patterns.
* Increase customer loyalty.
4. Organizational Appraisal
a. SWOT Analysis
* internal characteristics that the organization can use for its advantage * Weaknesses:
* internal characteristics that can hinder the success of the organization * Opportunities:
* environmental characteristics that can help the organization succeed * Threats:
* environmental characteristics that can prevent the organization from being successful
STRENGTH * We have a better infrastructure * We have IT efficiency * We have well qualified chefs * We are backed by good financial supporters| WEAKNESS * We lack Experience * Less Market Share * Less Popularity| OPPOPTUNITIES * We are starting our business in a highly residential housing area.| THREATS * Competition from well experienced restaurants * Government restrictions * Changing Visa Policies by the government.|
A resource or capability is said to be valuable if it allows the firm to exploit opportunities or negate threats in the environment. We are the only restaurant that offers “free home delivery within 30 minutes or free” offer in that locality
A resource is rare simply if it is not widely possessed by other competitors.
Most of our...