Essay About Minimum Wage Increases And Step 1Step 2Step

Strategic Mgt
Analyzing Strategic MGTCase Review (Use any tools you need to, don’t need to use all if they don’t fit in solving the case)Step 1Step 2Step 3: conduct Value Chain Analysis: looking at dif aspects of business to see where a problem might beInbound logistics        Anything involved in receiving, storing and distributing productsEx. Food and bev productsOperationsWhere raw products are turned into meals and then customers buy themOutbound logisticsCustomers actually consuming themMarketing & salesActivities in advertising and promotionEx. How they get the customers to come inServiceAny service after the product’s performanceEx. Training someone how to use the computer they purchasedPEST AnalysisLooking at outside factorsPolitical FactorsDifferent regulationsEx. Alcohol sales and casinosLegislation: changing of the lawsEx. Minimum wage increases = will increase costsEconomic FactorsIf people aren’t getting paid enough, they won’t come out to pay for thingsSocial FactorsHealthier and greenerNew trends like farm to tableSocial mediaReviews and deciding on a restaurantTechnological FactorsPersonalization, cuts labor costs, invasion of privacy, online booking and OTAsTraining consumers and staffStrengths & Weakness (Internal) (Exist)Opportunities and Threats (External) (Future)Five Forces AnalysisCompetitive Rivalry- surrounded by Threat of new competitors, Bargaining power of suppliers, Bargaining power of customers, and Threat of substitute products (ex. Lodging- AirBnB)