HIDALGO RESTURANT, INC: SUCCEEDING AS AN ENTREPRENEUR
A. Vision Statement
“For everyone who works with us to discover in themselves their talent and their potential and to build relationship with each other”
Vision statements should answer the question “What do we want to become.” But Hidalgo’s vision statement does not answer that question. It doesn’t even mention what kind of business they are into.
C. Proposed Vision Statement
To be the preferred restaurant of Filipinos and expatriates, providing total customer satisfaction through quality, service, cleanliness, and value.
A. Mission Statement
Hidalgo Restaurant, Inc. doesn’t have specific mission statement
A Mission Statement reflects the company’s core purpose, identity, values and principle business aims. A Mission is defined as 'Purpose, reason for being'. Defined simply "Who we are and what we do."
Mission statements should possess nine (9) components which are (1) customers, (2) products or services (3) markets, (4) technology, (5) Concern for survival, growth, and profitability, (6) philosophy, (7) self - concept, (8) concern for public image, and (9) concern for employees.
C. Proposed Mission Statement
We are committed to provide total customer satisfaction and exceed customer’s expectations through setting the trend in raising the bar, to be the change agents contributing directly to the country’s development, creating standards of excellence which every Filipino may aspire, to be in the business of building relationships and partnerships, among which one partner is the customer, in order to maximize earnings that will benefit our supplier, employees, and investors.
III. EXTERNAL ENVIRONMENT ANALYSIS
The restaurant sub-sector includes places that serve food and drinks, be it self-service or full-service. This covers a range of services including fine dining specialty restaurants, fast food outlets, canteens, and food courts. In terms of its contribution to the national economy, the hotel and restaurant industry accounted for 1.35% of Philippines’ 1998 gross domestic product (PHP12 billion in GVA compared to the Philippine’s PHP889 billion GDP during the period) and 1.28% of its national product (PHP12 billion in GVA compared to the PHP931 billion GNP). Moreover, the hotel and restaurant industry employed about 1% (282,142) of the country’s 31,278,000 labor force during the same period. Meanwhile, the National Statistics Office (NSO) in 1994, classified 46,930 firms as belonging to the hotel and restaurant industry, employing a total of 221,954 people. At the time, each peso investment in labor contributed PHP4.40 to the industry’s total output while each peso investment yielded a PHP1.27 contribution to the same.
A. Economic Forces
Restaurant patrons cross all economic groups. Fast foods and food courts cater to all income classes. Specialty fine dining restaurants, generally target the A, B, and C crowd. The proliferation of one-stop shopping malls that offer various recreational facilities and amenities is also an important growth factor. The heavy pedestrian traffic that the malls attract means big business for the restaurant industry, particularly the fast food sub-sector. Moreover, these malls spare the restaurant industry from spending extensive business development studies for their outlets; mall magnates Henry Sy and John Gokongwei Jr. have established formidable track records in building malls. Finally, Filipino communities abroad are strong basis for the export of local restaurants and fast food technology. The presence of Goldilocks, Jollibee, Max, Red Ribbon, and Barrio Fiesta, among others, in the US, for example, is a result of demand from Filipino migrants longing for a taste for home.
B. Social, Cultural, and Demographic Forces
The urban population to which restaurants cater is largely made up of young people who...
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