Taste Budz Grille

8/6/2019 Taste Budz Grille

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Group members:

Jamilah Campo

Simone Ferret

Denecia Ransome

Keiron Ramsey


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Historyy Taste Budz, Inc. was founded in 1972 and owns,

operates, and franchises more than 900 restaurants in

the United States and around the world.y The company and its franchisees employ more than

50,000 full- and part-time team members.

y Revitalization will appeal to loyal core guests while

attracting a new generation of consumers.


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SWOT Analyis

y ASWOTAnalysis is a strategic planning method to

evaluate Strengths, Weaknesses, Opportunities andThreats involved in business venture.


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Strengths Weaknesses

Strengths: characteristics of thebusiness or team that give it anadvantage over others in the industry

y All franchisees are independent, full-time operators and Taste Budz wasnamed Entrepreneur's number-onefranchise in 1997. They have globallocations in all major airports, andcities, along the highways, touristlocations, theme parks and insideSuper-Mart.

y The restaurant has a good lease sotherefore rental costs are low andlabour costs are controlled.

y They have an efficient, assembly linestyle of food preparation. In additionthey have a systemization andduplication of all their food prepprocesses in every restaurant.

Weaknesses are also found internally likestrengths. Weaknesses, however, canlimit a companys potential.

y Little or no emphasis is placed ontraining employees on exceptional orgood customer service. As a result, high

quality standards of service are notalways met.y Employees are disloyal to the

organisation due to the low salaries andbenefits offered. As a result, there is ahigh turnover of employees.

y Over the years, Taste Budz usually took along time to be innovative and offer new

products.The chicken sandwich wasintroduced long after the chicken meals.The other products such as fish filletsandwiches and jerk chicken weregradually introduced.


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Opportunities Threats

Opportunities: considered external forcesthat just like strengths can be veryhelpful to achieving your goals.

y They have industrial, restaurant settings;they could provide more upscale

restaurant settings, like the one theyhave in New Town Place on Langeway, toappeal to a more upscale target market.

y Provide optional allergen free fooditems, such as gluten free and peanutfree.

y In today's health conscious societies theintroduction of a healthy hamburger is a

great opportunity.T

hey would be thefirst QSR (Quick Service Restaurant) tohave FDAapproval on marketing a lowfat low calorie hamburger with lowcalorie combo alternatives. Currently McFrys and its competition health choiceitems do not include hamburger

AThreat is any unfavorable situation in theorganisations environment that is potentiallydamaging to it strategy.

y Recent studies have shown that fast foodchains have been constantly drawingcustomers away from casual dining chains in

recent years. Since many economic changesoccurred many people are simply less inclinedto spend money on dining out.

y Patty King is also a major threat owing to theactivities in which business engages. Theseactivities include lower pricing, greaterquantity and quality, and market availability.

y They are a benchmark for creating "cradle tograve" marketing. They entice children asyoung as one year old into their restaurantswith special meals, toys, playgrounds andpopular movie character tie-ins. Children growup eating and enjoying Taste Budz and thencontinue into adulthood. They have beencriticized by many parent advocate groups fortheir marketing practices towards childrenwhich are seen as marginally ethical.


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PESTLE AnalysisOriginally designed as a business environmental scan,the PEST or PESTLE analysis is an analysis of the

external macro environment (big picture) in which abusiness operates. These are often factors which arebeyond the control or influence of a business, howeverare important to be aware of when doing productdevelopment, business or strategy planning.


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Political Economic

Political factors are how and towhat degree

a government intervenes in theeconomy. Specifically, politicalfactors include areas such as taxpolicy,labour and politicalstability. Political factors may alsoinclude goods and services whichthe government wants to provide

or be provided (and those that thegovernment does not want to be.Furthermore, governments havegreat influence onthe health, education, andinfrastructure of a nation.

Economic factorsincludeeconomic growth,

interest rates and the inflationrate. These factors have majorimpacts on how businessesoperate and make decisions. Forexample, interest rates affect afirm's cost of capital andtherefore to what extent a

business grows and expands.Exchange rates affect the costs ofexporting goods and the supplyand price of imported goods inan economy


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Social TechnologicalSocial factors include thecultural aspects and includehealth consciousness,population growth rate, agedistribution, career attitudesand emphasis on safety. Trends

in social factors affect thedemand for a company'sproducts and how that companyoperates. For example, an agingpopulation may imply a smallerand less-willing workforce (thusincreasing the cost of labor).

Furthermore, companies maychange various managementstrategies to adapt to these socialtrends (such as recruiting older

workers).

Technological factors includetechnological aspectssuch automation, technologyincentives and the rate

of technological change. Theycan determine barriers toentry, minimum efficientproduction level andinfluence outsourcing decisio

ns. Furthermore,technological shifts can affectcosts, quality, and leadto innovation.


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Legal Environmental

Legal factors

include , consumerlaw, antitrustlaw, employment law,and health and safety law.These factors can affect how a

company operates, its costs,and the demand for itsproducts.

Environmental factors includeecological and environmental

aspects such as weather, climate,and climate change, which mayespecially affect industries suchas tourism, farming, andinsurance. Furthermore,growing awareness of thepotential impacts of climate

change is affecting howcompanies operate and theproducts they offer, bothcreating new markets anddiminishing or destroyingexisting ones


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Documents

Taste Budz Grille