On top of that, to increase their organization, the company uses massive technologies to strengthen their restaurant’s operations. Conversely, with the relatively small scale of operations compare to their competitors, marked the weakness of the company. Another weakness of the company is the increase in expenses which affected their margins. To improve the company’s market position and minimize the weaknesses, the company should open new restaurants and expand internationally. Despite the weaknesses, the Cheesecake Factory still has the strong presence in the United States market due to their solid history and background.
The definition of perfectly competitive is “characterized by many buyers and sellers, many products that are similar in nature and, as a result, many substitutes. Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand. Thus, producers in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage.” (Economics Basics: Monopolies, Oligopolies and Perfect Competition ) CiCi’s falls into this category because it sells a product that has many competitors, which means many substitutes. Companies like Pizza Hut, Hungry Howies, and local family owned businesses all run pizza and salad buffets around the same price per person. With so many options for customers to pick from; CiCi’s has to be very aware of pricing (since most people are “price takers” and want the best deals), tastes of the region, and service provided to their customers.
Based on the case, the company had 910 locations in 2006 competing with the top restaurant chains in the USA such as Mc Donald’s and Starbucks. Their uniqueness gave them a competitive advantage above the rest, leading to their great success in these years. It is clear from the case that Panera Bread constantly review their strategy. We feel that this has enabled the company to enhance their performance. They have changed their business strategy on a number of occasions by offering different products and services.
Product development is the lifeblood of any food leading companies. Therefore, R&D should be the main focus in combination with good marketing strategy, which will maintain products quality and/or create new products that in turn create new customers. Creating and building brands involve various marketing strategies, which include promotions, advertisement campaigns and competition for display location at retail stores. A company should also take into consideration that their marketing strategies have to match its retailer stores strategies, for retailers will decide which products they want to be more appeal to consumers through their marketing channels. No stranger with these success factors in the food industry, CAGP had their own strategies.
UR supplied its products to the food service market, retailers and industrial customers. Eighty percent of UR’s honey sales were to a large franchis e retail operator for use as dipping sauce. Being a large franchise retailer, it had tough quality standards and demanded product consistency. Besides, it also purchased several other products from UR, therefore was an important customer. UR was considered to be a worthy producer and as a result had good clientele.
Is Whole Foods’ strategy well matched to market conditions in the food retailing industry (one of the criteria for a winning strategy discussed in Chapter 1)? Yes the Whole Foods strategy has worked well for the company. They have good products and show good employees who also have shares in the company. They do not have much competition only on smaller scales or small areas in existing regular food markets. The company is still expanding even in this poor market and acquiring new stores and companies.
Introduction / Thesis Panera Bread Company is a very successful business that has the potential for continual growth and upward opportunities. It was founded in 1993 and established in May 1999 as a national restaurant, Panera Bread. The company operates or franchises 1,362 bakery-cafes in 40 states and 17 facilities that deliver fresh dough to the bakery-cafes every day. In 2005, Panera ranked 37th on Business Week’s list of “Hot Growth Companies”, earning $38.6 million with a 42.9% increase in profits. In 2008, the restaurant expanded into Canada.
It only makes a few food items, it consistently makes them well and it earns the trust of customers. In addition to ordering from the official menu, customers also order from the "secret menu" customizations. Third, In-N-Out takes pride in its corporate culture that values and rewards its employees. Generally, In-N-Out Burger pays their employees at least $2.00 per hour more than their competitors. Such as restaurant managers average more the $100,000 per year plus a full benefit package!
Strategic HR Management Final Project Wegmans Food Markets Table of Contents Abstract 1 Introduction 2 History of Wegmans 2 Why Employees Enjoy Working at Wegmans 3 How Wegmans Attracts, Retains and Develops Employees 4 Strength of HR 7 HR Competitive Advantage 8 Other Important Learning about Wegmans 11 Company Developments 12 Conclusion 13 References 14 Abstract Wegmans has done many things over the years to achieve the reputation as being one of the best employers in the United States. The company operates 67 stores in four states, employing over 30,000 people, and close to two and a half million customers per year. Since 1981, the company has given $56 million dollars in scholarships to more than 25,000 full-time and part-time employees. Wegmans turnover rate is only 6%, which is considerably lower than the industry average. Wegmans HR function is strength because they take a strategic approach that not only covers standard functions but they also capitalize on interpersonal functions as well.