Outback Steakhouse
Essay Preview: Outback Steakhouse
Report this essay
Outback Steakhouse
Outback Steakhouse is a restaurant that has always aimed to make dining a delightful experience for its customers. Outback Steakhouse opened its first restaurant in 1988 in Florida focusing on offering customers generous portions of high-standard food in a welcoming atmosphere dominated by an Australian theme. Due to its success in the restaurant industry and after it has proven its strong existence among other dining places, Outback Steakhouse decided to follow up with the change of preferences of clients and to be up-to-date with all new. This company survived in the U.S. restaurant industry and was able to impose itself as a fierce competitor because its management kept in mind the importance of evolution. Outback began to expand nationally and become very well known internationally to reach more than 800 restaurants in 23 countries and this was due to ventures with other restaurants and franchise agreements. What helped Outback was that it didnt rely on a single segment; on the contrary, it created joint ventures in both the casual and upscale dining segments. This proves that Outbacks supervision knew how to develop the business and to make Outback a one of its kind restaurant that takes care of its staff as much as it cares for its patrons. This asserts that the management of Outback is doing a very good job and would make the business grow and expand to reach the whole world.
The key strength factors that Outback strains on are first giving great attention to the customers satisfaction by ultimately fulfilling the needs of their employees, and second is paying attention to their marketing and advertisement department and trying to make use of it. It is very well perceived that Outbacks management keeps in mind consumers full satisfaction. To affirm this point, we should underline the unusual attention and care that is given to the Outbackers, who disclose their satisfaction through the superb service they present to the customers. Focusing on customer satisfaction is a good strategy that helps people feel home when welcomed by the friendly and contended Outbackers. As for the marketing and advertising strategy, Outback doesnt tend to set a large budget for media advertising. Even though Outback is a reputable restaurant and although it has a huge standing in the US restaurant industry, it needs to strain on advertising in order to catch the attention of more customers through illustrating their programs and the way they follow the new trends and preferences of all their customers. Advertising can help Outback grow and expand more and thus satisfy more customers and make more revenues. This is why I believe that their marketing and advertising strategy is not that much of a key one; it is rather a passive policy which if adjusted can become an active and beneficial one to the business.
The rapid and booming growth of the business made many hourly Outbackers and managers become part of Outbacks culture. It is true that this was a positive indicator of how people perceived Outback, but at the same time it made the founders of Outback realize that they need to uniform the different principles and the cultures that each Outbacker came with. The point was to motivate Outbackers to acclimate with the restaurants unanimous and unique culture. From here, a tangible product called the Principles and Beliefs was produced and was noted as the “theory of success”. The P&Bs incorporated Outbacks core principles and its dedication to its stakeholders. The headship of Outback realized that Outbackers are the key asset of the business and a main stakeholder of the company. They are the mirror of the image of the restaurants sound management to the customers, and are the ones who create connections with them. This is a reason why Outback cares mostly about ensuring the contentment of Outbackers, the backbone of the company. It is very important to indicate the relation that ties the P&Bs to Outbacks strategy. The main policy that Outback goes behind is taking good care of its customers and thereby ensuring the satisfaction of all stakeholders. With this in mind, the management highlights the idea sharing achievements and profits with Outbackers to make them feel the commitment Outback promises. This pledges the fine quality of service that Outbackers will offer to the customers and the enthusiasm that satisfied Outbackers will have to please their customers.
Outback Steakhouse is a part of one of the largest industries in the U.S., the restaurant industry. Studies have shown that related industries such as agriculture and food manufacturing also prosper with the expansion of the restaurant industry. The restaurant industry is known for being the largest employer in the U.S. Restaurants usually open a wide range of opportunities to people of different age, gender, religion and race. This gives a chance to minorities to prove their ability to share and excel in the workforce and this policy helps in decreasing the gap that existed due to the obvious discrimination in the work field as well as other fields. The restaurant industry helps boost the U.S. economy through several ways such as increasing the level of employment and elevating the Gross Domestic Products in the U.S. In general the restaurant industry is a big help for the economic condition in the U.S and is a key element which can affect the economical stability.
Outback kept in mind not to set its standards on the upscale dining segment alone, but went ahead to follow up with the changing needs of the customers. Outback decided to increase its ownership of diverse types of restaurants through joint venture partnerships mainly, in order to get the advantage of the increasing recognition of casual dining. Outback Steakhouse, starting from this point, chose out specific restaurants that served high quality food in a casual theme. The restaurants which were chosen by Outback, grabbed diners attention with its homely environment that offered high quality ingredients in handmade dishes to accommodate all tastes and preferences. Moreover, the restaurants they chose focused on advertisements and TV commercials which made a constructive impact on their revenues. Another casual dining restaurant that became Outbacks partners served high quality food in an upbeat environment that made dining a wonderful experience. This shows that the key success factors of the casual dining segment in the restaurant industry are the overall setting and the friendly ambiance along with the high quality food served, keeping in mind working hard on advertisement which helps in bringing more customers.
Outbacks SWOT analysis asserts the idea that it is a strong and well-built company that has