Mid Term Question
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Mr. Ali started working as senior strategic manager at “Meridian Continental” in 2023 (a restaurant chain operating in Pakistan, India & Bangladesh). During his orientation, he was handed over a document to have a basic understanding of the standing of the restaurant with respect to strategic management. The document has the following details:
Since its establishment in 2001, "Meridian Continental" is crafting cherished moments for its valuable customers by preparing original continental dishes. Our recipes, handed down through generations, guarantee an unforgettable dining experience that captures the essence of continental food in a truly exceptional way. By doing this, "Meridian Continental" strives to become the most preferred global destination for continental cuisine.
Hygienic, Friendly, Sustainable, and Responsible: These words hold profound significance for us. We firmly believe in upholding the highest standards when sourcing all the food we serve. As one of the largest purchasers of raw ingredients worldwide, we acknowledge our responsibility to safeguard and conserve our planet for future generations. Discrimination against other employees or customers is strictly prohibited at our restaurants. The employees are required to apply for leave at least 2 days before the absence. Strict action is taken if these two guidelines are not complied with.
We have the best world-class chefs who are masters of the original continental recipes. Our restaurants provide an ambiance that is no match for any other continental restaurant operating worldwide. However, the recent COVID-19 pandemic hit us hard, and our sales declined due to lockdowns. During this period, we found great flaws in the online ordering systems and the
efficiency of the home delivery system. We aim to work hard and overcome these issues to achieve a steady growth rate of 2% in our profits every month. By the end of December 2030, we aim to increase our presence in a total of 10 countries to increase the overall targeted customers to 40% and increase our overall revenues by 50%.
Recently, we observed a shift in the taste of our customers toward seafood. Additionally, a stark decline in taxes on restaurants was also seen in United Arab Emirates (UAE). Following these trends, we diversified our menu and included more seafood items. We also opened a new branch in UAE. Last month we performed an audit and noted that the diversified menu and addition of the UAE branch resulted in 1.7% growth in monthly profit whereas our customer base has so far increased to 9% and overall revenues have increased by 12%.
Carefully study the above case study and identify the following:
To achieve a steady growth rate of 2% in profits every month.
Diversify menu and include more seafood items, improve online ordering system and home delivery system, and open new branches in locations with favorable conditions.
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