You Will Need To Perform A Strategic Analysis On The Company ✓ Solved

You Will Need To Perform A Strategic Analysis On The Company You Are A

You Will Need To Perform A Strategic Analysis On The Company You Are A

You will need to perform a strategic analysis on the company you are assigned below. You will conduct a strategic audit report reviewing the basic strategic steps the company has followed in the last years: (for Goiko Grill). • 3-year objectives. Minimum words 600. Learning Assessments It assesses the following learning outcomes: 1. Critically evaluate the holistic, integrative nature and role of strategic management as a discipline. 2. Appraise the key elements of the strategic management knowledge base using a range of integral analytical and strategic tools. 3. Critique competing and conflicting literature-based theories and conceptualizations of the strategy formation process. 4. Test large company-oriented areas of the strategic management knowledge base for applicability.

Sample Paper For Above instruction

Strategic Analysis of Goiko Grill: A Three-Year Strategic Outlook

Introduction

In the dynamic landscape of the fast-casual dining industry, strategic management plays a pivotal role in guiding company growth, competitiveness, and sustainability. Goiko Grill, a rapidly expanding burger chain originating from Spain, exemplifies a company that has navigated various strategic challenges and opportunities over recent years. This paper conducts a comprehensive strategic audit, analyzing the company's strategic steps and setting clear objectives for the next three years. The analysis integrates strategic management theories and tools to assess how Goiko Grill can sustain its competitive edge and achieve its long-term goals.

Overview of Goiko Grill

Founded in 2013, Goiko Grill quickly gained popularity due to its innovative approach to gourmet burgers and customer-centric service. Its growth trajectory has been influenced by strategic decisions such as menu diversification, technological integration, and expansion into new markets. The company's vision emphasizes quality, innovation, and a strong brand identity, positioning it as a leader in the competitive fast-casual segment. As of 2024, Goiko Grill operates in multiple countries with plans to further expand its footprint in Europe and other regions.

Strategic Management Framework

Analyzing Goiko Grill’s strategic trajectory involves applying several strategic management tools. The SWOT analysis reveals its strengths in brand reputation and menu differentiation, weaknesses such as high operational costs, opportunities through digital transformation, and threats from intense competition. Additionally, Porter’s Five Forces highlight the competitive dynamics within the burger industry, with factors like supplier power and competitive rivalry shaping strategic decisions. The resource-based view (RBV) emphasizes the company’s unique assets, including a loyal customer base and innovative culinary offerings.

3-Year Strategic Objectives

Based on this analysis, Goiko Grill's strategic objectives for the next three years are as follows:

  1. Market Expansion: Increase presence in existing markets and enter new geographical regions, particularly targeting underserved markets in Europe and Asia.
  2. Product Innovation: Develop new menu items focusing on health-conscious options and sustainability, aligning with consumer trends towards wellness and environmental responsibility.
  3. Digital Transformation: Enhance digital ordering platforms, loyalty programs, and data analytics capabilities to improve customer engagement and operational efficiency.
  4. Operational Excellence: Streamline supply chain processes, reduce costs, and improve sustainability practices across the supply chain.
  5. Brand Strengthening: Invest in marketing campaigns that emphasize quality, innovation, and corporate social responsibility to reinforce brand loyalty.

Strategic Tools Application

To support these objectives, Goiko Grill should leverage strategic tools such as the Balanced Scorecard to monitor financial, customer, internal process, and learning growth metrics. Strategic initiatives like market penetration strategies, innovation management, and continuous improvement methodologies (e.g., Six Sigma) are essential for implementation. Moreover, scenario planning can help anticipate market changes and adjust strategies proactively.

Conclusion

In conclusion, Goiko Grill’s strategic journey over recent years reflects a commitment to innovation, quality, and customer satisfaction. Its focus on digital transformation and market expansion positions it well for sustainable growth. By aligning its three-year objectives with strategic management theories and tools, Goiko Grill can navigate industry challenges and capitalize on emerging opportunities. Continuous strategic assessment and adaptability will be key to maintaining its competitive advantage and achieving long-term success in the global fast-casual dining arena.

References

  • Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
  • Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press.
  • Grant, R. M. (2019). Contemporary strategy analysis (10th ed.). Wiley.
  • Exploring the strategic management process in the foodservice industry. (2020). International Journal of Hospitality Management, 89, 102588.
  • Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: Concepts and cases: Competitiveness and globalization. Cengage Learning.
  • Johnson, G., Scholes, K., & Whittington, R. (2017). Exploring corporate strategy (11th ed.). Pearson.
  • Li, J., & Fung, H. (2022). Digital transformation in the restaurant industry: Case studies and strategies. Journal of Business Research, 141, 890-902.
  • Swarbrooke, J., Beard, C., & Sartore, T. (2020). The development of sustainable practices in restaurant chains. International Journal of Contemporary Hospitality Management, 32(2), 862-878.
  • Naude, P., & Wilson, J. (2014). Strategic management in emerging markets: The case of multinational corporations in Africa. Journal of Strategic Marketing, 22(4), 379-392.
  • Yin, R. K. (2018). Case study research and applications: Design and methods. Sage publications.

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