Plato’s Diner is a family owned and operate business. The owners, Dean and Chris Papas are Greek immigrants and they believed if they worked hard and spend their money wisely they will become successful businessmen. Contrary to their beliefs the case highlights several issues at Plato’s Diner. These challenges derive from lack of strategic planning, management operation, human resources management, marketing strategy and non-compliance of labor laws, and taxes regulations. These challenges pose legal ramifications for their business. Dean and Chris, 22 and 24 years old, respectively, made their dream a reality in June of 2002 when they accumulated enough money to buy Plato’s Diner. Plato’s Diner is a 1950’s diner located upstate New York and …show more content…
Their strengths are good food, reasonable price, high customer traffic, clean atmosphere, family run and operated. However, their weaknesses were; lack of management expertise, lack of accountability, inefficient human resources management skills, lack of innovation and therefore missed growth opportunity, and a hostile working …show more content…
In family owned businesses, nepotism comes to play, and family members are reluctant to let outsiders into their fold. To be successful a business, Plato’s Diner needs to employ qualified manager and accountant. Chris and Dean needs to employ a professional manager to oversee the daily operations of the business since they both lack the skills to do so. Since both brothers are excellent cooks they should stick to that aspect of the business. Plato’s Diner location was good for marketing strategy, so was their price, and meal, however, they lack effective marketing and promotional push. Dean and Chris need to put the final P(romotion) to work. They need to promote Plato’ Diner on television or in the newspaper. To be successful, they have to move forward with innovation. Also, they should enlarge the parking lot and invest into a credit card machine because plastic is the way of the future. Plato’s Diner have a lot of potential base on location it just need to be transform into revenue. Both brothers need to be more responsible with their monetary expenditure. They should implement a systematic method of record keeping and keep personal money separate form business. Another aspect is that Plato’s Diner must stop hiring under age children, illegal immigrants and stop employee discrimination because the penalties for these offences can be extremely
The diversification lowered the overall risk of the firm and created an information network among the divisions, which was critical for the company to gain competitive advantage. The loyal customer base was another strength. The $60 billion assets that under the company’s management provided the company a positive brand image and made it easier for the company to attract new customers. Weakness:
Guy is a pastry chef at the hotel, in which Bruno advised Guy of the position. Guy has a second job in north Scottsdale at the restaurant Pretentious Petit Four, which is owned by Bruno. At Guy’s second job Guy signed a covenant contract asserting upon leaving Pretentious Petit Four, Guy would not accept employment in any form of a baker within an eighty-mile radius of Scottsdale, for the following five years. Guy has dreams of being a business owner of his own bakery the Craven Croissant, in Phoenix, particularly the Maryvale area. Guy wants to form a corporation with you also with any other directors of the corporation who would own the bakery as well.
With several alternative courses of action facing Atomica, it is important to first consider eschewing any changes and exiting the business. Any change to Atomica’s current business plan will cause the restaurant to incur some level of risk, especially with recent uncertainties regarding how Ontario’s minimum wage hike will affect small, independent restaurants. Atomica may decide they cannot afford the risk of any changes presently. Furthermore, continued investment in the business may exemplify a sunk cost fallacy; investing further in Atomica simply because of the money already spent on it. Selling the business while it is profitable can provide BDHG with the capital to venture into another project with stronger market research, or to invest
Plato Closet of Indy’s Eastside which buys and sells gently used, quality, brand name apparel, recently moved from Mitthoeffer Road and East Washington Street down the road to 9400 East Washington St, just three blocks east of Post Road. The re-opening at this new location will be on January 7th at 10am. Plato’s Closet of Indy’s Eastside has been serving teens and young adults alike with the latest stylish, trendy clothing for the past 15 years.
In accordance with the design of the building, the outside gives false interpretations of what the inside would appear to be. However because of the modernized look of the restaurant, there were many people who seemed to be in the business field; it was as if at every corner of the restaurant there was a party dressed in suits and office attire. Metro provides both open, friendly and public space and quiet, secluded and private spacing - for business meetings or luncheons and fun lunch or dinner dates. The restaurant also provides activities, such as games for children to engage in while they wait. Impressed with the initial walk into the restaurant, we were instantly greeted by a
Olive Garden in Livonia, Michigan is a wonderful restaurant for friends and family to get together and enjoy a hearty and comforting meal that won’t cost a fortune. The restaurant is not only kid friendly, but it is also very accommodating toward larger groups. Olive Garden is open for business every day for lunch and dinner. The menu at Olive Garden is incredibly extensive and there are even items for vegetarians to dig into. The stuffed mushrooms are so flavorful and a fantastic way to start a meal.
First, They should come to Island School because they are very hard workers and try their best. They also are a very good team and can show us how hard it is too run a restaurant. My grandpa was in charge of getting the supplies from many stores. He would go to Sam’s club, Costco, Restaurant Depot, and many other stores.
Similar to most restaurants that start out it had struggled financially. While most of the staff, made up of high school students, did not know of the difficulties, management did. On this day, management was in a festive mood since there had been significant improvements in the finances. This had also contributed to Ben’s desire to do something special for the
Porcini’s Pronto Tom Aleso, who was the Marketing vice Director of the Porcini’s Inc., had a good idea of expanding the company’s business of operating the restaurants. He identified an opportunity in creating more full-service chain restaurants that would serve the highway travelers. It was a brilliant proposal since the only competitors that were serving the market then were a few people operating low-end fast food restaurants and small outlets. In fact, this augured well for Porcini’s full-service restaurants and there were signs that they would be embraced by the customers who needed full meals at the rest stations in the course of their journey. However, the biggest challenge that stood along the way was insufficient capital and lack of resources to start up the business, and there were concerns about the quality of the initial services.
Weaknesses: First, Jamba Juice’s initial surge in store openings, coupled with mismanaged growth patterns, placed a strain on the company’s cash reserves. Second, a further lack of financial discipline within the company allowed for huge increases in operating expenses. Third, although Jamba Juice initially gained popularity due to innovative products, their product offerings quickly became outdated and unexciting. Fourth, the seasonality of cold drinks created stagnant revenue during Fall and Winter months. Fifth, Jamba Juice initially relied on word-of-mouth advertising, but failed to create a viable marketing strategy as they expanded nationwide.
And achieve as a result, the growth for its brand, market share, and sales
Firm History: As stated in the case study, “Loblaw Grocetariaswas founded in 1919 by Theodore Pringle Loblaw J, Milton Crok. In 1947, George Weston, acquired a small stake in the company. Eventually, Loblaw companies limited became a part of George Weston limited, Canadian based company. Now it is controlled by third generation of Weston family.
adopted by their target audience because they’re backed up by Havas which has a good reputation of successful campaigns for brands aimed at the Hispanic community. Industry Analysis: Wonderful Pistachios is part of the snack food industry. The Los-Angeles based company has more than US$4 billion in annual sales. SWOT: The strengths of this company are that they are a leading brand and already had good revenue before the campaign took place (there is customer loyalty).
Internal strengths work as the main success factors for an organization. The main strength of the company was its Research and Development section in which it spends almost 9% of its total sales amount. Again the company had very high innovation aggressiveness which led the company to remain in its price differentiation strategy. Moreover the company always had been under the supervision of charismatic leaders which accounted for its strategic success. Lastly, the simple and user friendly premium looking device with uniqueness accounted for the brand loyalty of its
The diagram above shown the CPM of McDonald’s and its competitor, KFC and Burger King; indicates McDonald’s is in a strong strategic position than its competitor. Some of the reasons McDonald’s is successful and has high market is due to it strong brand name recognition, a strong customer loyalty, and its global expansion. Furthermore, McDonald’s is also invested a large sum of money in advertising and very well known toward it charity program through Ronald McDonald’s House. Nevertheless, there are areas in which the organization can improve.