HOSPITALITY MANAGEMENT SEMINAR
Term Group Project
Each student is responsible for the section which corresponds with their order in the signup for the group. If you are the first person listed you will do all the items #1 in each section and if you are the second person listed then you would do the #2 item in each section and so forth.
Written component: Your project is due at midnight on Friday of week 9. No partial projects will be accepted. Remember that 25 points a day are deducted for lateness.
Use as a guide to writing the applicable sections your SWOT from the first presentation.
Section 1: Company Status Update
Include
1. History,
2. Company structure
3. Scope of operations
4. Financial analysis,
5. Marketing analysis and
6. Future outlook for the company.
The update should be done in the form of introductory paragraph which should read with continuance and flow. Make the separation with bold headings. History bla bla bla alibaba bla. Company structure board of bla bla bla etc.
Section 2: Mission Statement Analysis
This section includes the following parts:
1. An analysis of which of the components of a vision statement you believe should be included in your company's mission statement
2. A copy of the company's current mission statement; identify the stakeholders.
3. An analysis of which of the parts of a mission statement are internal and which are external.
4. A critique of the current mission statement, how does it fit today's business environment
5. Your proposed new and improved mission statement.
6. Most important stakeholder and why?
Section 3: Input Stage of Strategy Formulation
SWOT Analysis & Competitive Profile, and IFE Matrices
1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
5. Competitive Profile
6. Cash position
Section 4: Matching Stage of Strategy Formulation
1. Develop and analyze the SWOT Matrix,
2. Evaluate the Threats and identify in descending order
3. Evaluate the Opportunities and identify in descending order
4. Evaluate the Strengths and identify in descending order
5. Evaluate the Weaknesses and identify in descending order
6. Create a list of the most important TOWS to focus on at least two for each category.
Section 5: Decision Stage of Strategy Formulation (Continue with information from Section 4)
Based on your strategy analysis in section 4, determine 2 appropriate strategies for your company to pursue. Determine the most attractive strategy as your recommendation.
All group members participate with their assigned section.
Section 6: Strategy Implementation Plan
Determine a plan for implementing your strategy dealing with the issues discussed in chapters 7 and 8 of your text. These issues should include the following subheadings:
1. Management
2. Marketing,
3. Finance/accounting
4. R&D
5. MIS.
6. Consumer preferences
All participate and contribute to a discussion of your implementation based on quarters for the next two years. How would you foresee the benefits or consequences of each strategy include your expectations in the discussion?
Section 7: Strategy Evaluation Plan
Develop a plan for evaluating your strategy including time frame and methods you will use to measure the success of your strategy.
1. Are the internal strengths still strengths? How so?
2. Are the companies weaknesses still applicable, if yes how so if no what has changed? What potential weakness may arise in the coming fiscal year?
3. What is the most palpable opportunity for the organization, how can it take advantage of that opportunity?
4. Threats are dynamic and changing, identify a potential future treat to the company and how should it respond?
5. What potential growth strategy should the company employ, who might be a potential competitor to be over taken and how would it shift the core competencies?
6. Based on the current standing of the company and future outlook what contingency-plan recommendations would you as a member of the management team have to offer?
SWOT MATRIX
Threats
• Increased competition in industry
• Increase in cost of raw materials
• Economic slowdown
Opportunities
• Product line extension
• Increase in number of franchisees
• Global Expansion-Venturing into untapped countries
Weaknesses
• Only in suburban areas, not many people are driving.
• Limited number of products offered
• Presence only in U.S. and Canada
Strengths
• A well-recognized brand in U.S. and Canada
• Known for its fresh and good quality bread
• Strong presence with around 1500 locations
Our main threats coming at our company are increased competition in the industry. There are many strong competitors that offer the same dining experience as we do. This poses as a threat for us, especially if their prices are lower than ours. Another major threat is the increase of raw materials. With our recent change in menu items and ingredients we are looking to get fresh local products. This is a threat because it will cost us more money to produce the final menu items, making the price stay the same or rise to actually gain a profit. Finally, the economic slowdown is a threat because there is not as much being produced around the country due to lack of workers and money.
Our first main opportunity for Panera is the product line extension; more new items are being developed by our R&D team to meet the standards of people going toward a healthier lifestyle. Secondly, increasing the amount of franchisees we have will help target more of the population, mainly the ones that do not drive and can't get to our locations in the suburban areas. Finally, our global expansion and going into new countries will stretch our market to the max. This will target an audience around the globe, rather than just in the United States.
Our first main weakness is that we are mostly located in suburban areas and many of the millennials are not driving, but walking to eat at places. Secondly, even though we are changing over the menu and adding new items, we still have a limited number of products offered. And finally, global expansion is happening however currently we are only in the US and Canada which is a weakness for us at the moment. We are not getting our name out there as much as we could be if we were around the world.
Our first main strength is that we are well established and recognized brand around American and Canada. People know our name and know our reputation. If the consumer is a fan of the food, then they will come back because of brand loyalty. This is a great strength for our company. Our bread is the backbone of our establishment and that is our next most important strength. The fact that we have 1500 locations across the country and Canada is an amazing advantage and strength for us. Having this many locations makes us able to be in almost every state, targeting different populations all around North America.