Strategic Management Essay

2392 words - 10 pages

THAI TAE COOKING RESTAURANT
THAI TAE COOKING RESTAURANT

BUSINESS OVERVIEW
Introduction
According to a cuisine popularity survey undertaken by the Kellog School of Management (2004), Thai food is ranked at number four after Italian, French and Chinese cuisine. Thai food also proves to be a popular ethnic cuisine among western respondents according to another survey conducted by the Sasin Institute, in which it ranked sixth.
Thai government has also played an important role to boost Thai food in the international arena by promoted “The Kitchen of the World” project. This project aims to increase the number of Thai restaurants overseas and the government encourages Thai investors to ...view middle of the document...

Furthermore, Thai produce sold in the UK tends to be more authentic than Indian or Chinese foods. It may be seen as a healthier compare to Chinese and Indian foods. This said, the popularity of the Thai sector is still developing and has not yet reached its peak” (Key Note, 2011) Thai cuisine has long been known for its high nutritional value and its harmonious blend of flavours. Several major Thai ingredients used in Thai cuisine are claimed to possess beneficial compounds for human health (CNN, 2001)
As per all these reports, it indicates that people are increasingly becoming interested in the light, fresh and fragrant flavours of Thai Cooking. The demand of Thai cuisine in UK is gradually increase as people become more concerned with nutrition and authenticity in food. The market share of Thai cuisine is growing as dominant markets (Chinese and Indian) are getting less popular. Therefore, this is an opportunity to gain a maximum profit from investing in Thai cuisine.

Business Description
The restaurant will be launched under the name “Thai Tae Cooking”. The word “Tae” in Thai means “Real, Purify and Authentic”.
The restaurant’s main feature is to provide an authentic Thai food. Every dish that comes out of Thai Tae’s kitchen will be made with original, strong and fresh Thai flavours. Chefs and ingredients will be sourced from Thailand to make sure that customers experience real Thai food that could not be found anywhere else but at Thai Tae Cooking restaurant only. The other feature of the restaurant will be a Thai cooking demonstration. Thai Tae will serve customer an authentic Thai culinary and cultural experience. Customers will learn about Thailand such as its customs, bits of the Thai language, interesting places in Thailand and even Thai recipes via computer touch screens. The computer touch screen that installed at the table will provide a truly unique culinary experience. The capacity of the restaurant will be 70 seats.

Mission Statement
Mission Statement – To serve Authentic Thai food as well as disseminate Thai culture.
Vision Statement – To be the first Thai restaurant to gain 5 stared from the Michelin guide; and to be the best authentic Thai restaurant in London.

Products and Services
Food
Thai Tae Cooking restaurant will serve starters, soups, main course and traditional Thai desserts. Every dish is cooked with high nutrition ingredients such as lemon grass, lime leave and galangal which are good for health.
Drink
It will provide a wide range of drinks, alcoholic and non – alcoholic. For alcoholic drinks, the restaurant will serve Thai beer such as Singha beer and Chang Beer. It will also have an extensive wine list comprising both red and white. For non – alcoholic drink, the restaurant will serve a wide range of soft drinks. Thai Tae Cooking restaurant will also provide Thai special drinks such as young fresh coconut juice and Thai milk tea.
Service
The restaurant will have Thai waiter service and Thai...

Other Papers Like Strategic Management

Strategic Management Essay

810 words - 4 pages , increasing operating profits and passenger numbers, as well as growing the number of aircraft and available seats, are just some of the key focus areas for Fiji Airways within this plan. Stefan Pichler, Managing Director and CEO of Fiji Airways, says that this was the first time that a strategic plan for the airline was developed bottom up from the management and with input from its customers, people and stakeholders. “This is our plan, we

Strategic Management Essay

1204 words - 5 pages account item size and weight, shipment sizes, security, loading, unloading, connections and also error management. Like for example, a company that specialize in transportation of minerals from Africa to the United States must bring the product by boat and use trucks and trains to get them to various manufacturers (Kimmons, 2015). Firms are able to do this by making external and internal analysis, identifying strategic opportunities and threats that

Strategic Management

4781 words - 20 pages RGU: Semester 1-3 (2011/2012) Group timetable - ABS(PG) International Tourism & Hospitality Management (Wk 2, wk starting 03/10/2011) 09:00 10:00 10:00 11:00 11:00 12:00 12:00 13:00 13:00 14:00 14:00 15:00 15:00 16:00 16:00 17:00 17:00 18:00 18:00 19:00 19:00 20:00 20:00 21:00 Mo 03 Tuesday 04/10/2011 Lecture, 12:00-15:00, 04/10/2011 Strategic Management in Tourism & Hospitality - BSM552 Martin, Andrew H409 (FOHSC) ABS(PG) ITHM Tutorial

Strategic Management - 408 words

408 words - 2 pages JESSLYNE (090503322) STRATEGIC MANAGEMENT ASSIGNMENT NOKIA CASE STUDY JESSLYNE (090503322) STRATEGIC MANAGEMENT ASSIGNMENT NOKIA CASE STUDY SUMMARY Nokia, once a world leader in wireless telecommunications, has lost nearly 39% of its market share to its competitors and in some instances to no name companies. In 80s and 90s Nokia expanded through the acquisition of many other companies with various technologies. Due to this rapid

Strategic Management - 5392 words

5392 words - 22 pages 1. [BUMGT 3702 STRATEGIC MANAGEMENT] September 24, 2012Nestlé Company 41.0 IntroductionThe most important thing for most of business company is an understanding theirsuccessful performance among the other competitors in market place.For some parties, likeshareholders, it is essential for company to make a profit and gain above-average returns. Inthis assignment, I will discuss furthermore about Nestlé’s external environment in all aspectssuch as

Strategic Management - 3608 words

3608 words - 15 pages LONDON CHURCHILL COLLEGE AABPS Level 6 Diploma in Business Management Studies Title: Unit 3: Principles in Strategic Management Assessor: Submitted By (Student Name): Student ID: Number of words: 2955 Table of Contents Part 01 2 Introduction 2 I) Strategy Setting Process 2 II) Elements affecting the plan 4 iii) Future Directions 6 Part 02 7 2.1) Strategy Implementation 7 2.2) Plan for the Stakeholders. 8

Strategic Management - 1978 words

1978 words - 8 pages . Strengths, Weakness, Opportunities and Threats (SWOT) analysis is discussed to determine how External and Internal factors affect the decisions being made by management. Finally and attempt is made to provide alternatives and a strategy to further the success Apple currently enjoys. So kick back play your favorite song on iTunes, check your stocks on your iPad and make sure to put your iPhone on silent before we start. Apple Computers Strategic

Strategic Management - 2375 words

2375 words - 10 pages EXCUTIVE SUMMARY Marks and Spencer Group plc (M&S) is one of the famous British retailers in the world and the largest clothing retailer in the UK. Unfortunately, M&S did not change their strategic to adapt to a continuously changing economy, so that it suffered from strategic drift. From 2000, Luc Vandevelde and his management team attempt to turn the business around, with M&S’ unique resource and competence. This report

Strategic Management - 5802 words

5802 words - 24 pages Strategic Management Analysis of the strategy of the Strategic Management – Analysis of the Strategy of the Apple, Inc. 15 June 2012 List of contents List of contents …..…..…………………….………………………………….….………… 2 List of figures …………….…….……………………………….…………........................ 3 1. Executive Summary ……………………………………..….…………….….…………. 4 2. Historical development ………………….……..………………..…..……..………...… 4 3. Environmental analysis

Strategic Management - 2611 words

2611 words - 11 pages , can be outsourced. As for pricing and segmentation, Costa Management needs to determine the strategic positioning of the brand. It is not a cost-leader. Either it needs to be an innovator with differentiated product/service or a focused brand in niche market. Management know-how is derived from the fact that Costa Coffee operates 75% of the stores in UK and the remaining is franchised. This has given the opportunity to gain operational

Strategic Management - 942 words

942 words - 4 pages consider all options; implement decisions rapidly 14. Become a learning organization through relentless self examination and continuous improvement THREE ASPECTS OF STRATEGY FORMULATION The following three aspects or levels of strategy formulation, each with a different focus, need to be dealt with in the formulation phase of strategic management. The three sets of recommendations must be internally consistent and fit together in a

Related Essays

Strategic Management Essay 1308 Words

1308 words - 6 pages | TABLE OF CONTENTS | | | |Page No. | | |STRATEGIC MANAGEMENT-DEFINITION……………….… |2

Strategic Management Essay 275 Words

275 words - 2 pages Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and

Strategic Management Essay 1727 Words

1727 words - 7 pages Question 1 Introduction Louw and Venter (2010:20) explain that strategic management is concerned with the overall effectiveness and choice of direction in a dynamic, complex and ambiguous environment. The success of an organisation is mainly determined by the effectiveness and efficiency of its management. In the words of Peter Drucker, efficiency is concerned with ‘doing things right’, while effectiveness is concerned with ‘doing the right

Strategic Management Essay 681 Words

681 words - 3 pages strategic leader’s work demands decision trade-offs, often among attractive alternatives. - it is important for all strategic leaders & especially the CEO and other members of the top management team to conduct thorough analyses of conditions facing the firm, be brutally and consistently honest, and work jointly to select and implement the correct strategies. 7. Strategic leaders predict the potential outcomes of their strategic decisions