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MGT 603 Assignment 1

The document outlines the strategic plan for Meridian Continental restaurant. It includes their vision to become the preferred global destination for continental cuisine. The mission emphasizes crafting exceptional continental dishes while upholding high standards of sourcing, hygiene and sustainability. Internal factors include original recipes, skilled chefs and sustainable practices, but also flaws in online ordering. External factors negatively impacting sales are COVID-19 lockdowns and shifting tastes. The strategies focus on diversifying menus, expanding to UAE with lower taxes, and improving online systems. While diversifying and expanding led to growth, flaws in online ordering must still be addressed.

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Rehan Hameed
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26 views2 pages

MGT 603 Assignment 1

The document outlines the strategic plan for Meridian Continental restaurant. It includes their vision to become the preferred global destination for continental cuisine. The mission emphasizes crafting exceptional continental dishes while upholding high standards of sourcing, hygiene and sustainability. Internal factors include original recipes, skilled chefs and sustainable practices, but also flaws in online ordering. External factors negatively impacting sales are COVID-19 lockdowns and shifting tastes. The strategies focus on diversifying menus, expanding to UAE with lower taxes, and improving online systems. While diversifying and expanding led to growth, flaws in online ordering must still be addressed.

Uploaded by

Rehan Hameed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SPRING 2023

STRATEGIC MANAGEMENT (MGT603)


SOLUTION FILE

Due Date: 17th May 2023


Total Marks: 10
Topic: Strategic Management Concepts

Solution
1. Vision Statement: "Meridian Continental strives to become the most preferred global
destination for continental cuisine.
2. Mission Statement: "Crafting cherished moments for our valuable customers by
preparing original continental dishes, Meridian Continental
captures the essence of continental food in a truly exceptional way.
We uphold the highest standards when sourcing all the food we
serve and aim to safeguard and conserve our planet for future
generations. Discrimination against other employees or customers
is strictly prohibited at our restaurants."
3. Internal Factors:  Original recipes handed down through generations
 Best world-class chefs
 Hygienic, friendly, sustainable, and responsible sourcing
standards
 Ambiance no match for any other continental restaurant
 Flaws in the online ordering and home delivery system
 Audit results showing growth in profit, customer base, and
overall revenues after diversifying the menu and opening a
new branch in UAE
4. External Factors:  COVID-19 pandemic leading to a decline in sales due to
lockdowns
 Shift in customers' taste toward seafood
 Stark decline in taxes on restaurants in UAE
5. Values:  Hygiene
 Friendliness
 Sustainability
 Responsibility
 Non-discrimination
6. Policies:  Leave application at least 2 days before the absence
 Strict action against non-compliance

7. Long-term Goals:  Hygiene


 Friendliness
 Sustainability
 Responsibility
 Non-discrimination
8. Short-term Goals:  Achieve a steady growth rate of 2% in profits every month

9. Strategy/Strategies:  Diversify the menu to include more seafood items based on


customers' taste
 Open a new branch in UAE to take advantage of the decline
in taxes
 Work hard to overcome flaws in the online ordering and
home delivery system
10. Strategic Evaluation:  The audit showed that the strategy of diversifying the menu
and opening a new branch in UAE resulted in growth in
profit, customer base, and overall revenues. However, there
are still flaws in the online ordering and home delivery
system that need to be addressed to achieve the steady
growth rate of 2% in profits every month

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