Situational assessment / environmental scan
Fork and Dagger pub specializes in food and hospitality services. The pub operates in a very competitive industry. The firm’s primary competitors are hotels and bars around Struan. Its competitors offer foods, drinks, and hospitality services (MacKenzie, 2004). In Struan, three levels of government exist. They are the federal, the provincial, and the municipal. The governments can enact laws and frameworks that can force the business to adjust how it operates. The laws can be in the form of economic policies or legal changes. Based on the facts presented in the case study, it is apparent that the present state of Struan’s economy is far from fully recovering. The incomplete recovery experienced in the past few years has been uneven.
We will write a custom Case Study on Fork and Dagger Pub and Its Future Strategy specifically for you
301 certified writers online
In the case study, a number of social changes in Struan are illustrated. For instance, society has become accommodating to the lesbian, gay, bisexual, and transgendered community. As such, their presence in public joints such as pubs has increased. With respect to technological factors, it should be noted that the population in Struan has begun to adopt the use of technology in their daily activities. With the increased usage of technology, Fork and Dagger should embrace the changes because it will affect its business. It should offer its clients online booking services, Wi-Fi, and social media interaction platforms. Natural factors can also affect the business operation of the business. During winter, the business may record a drop in sales as more people opt to stay indoors.
The strengths exhibited by the business are brand reputation and experienced expertise. Unlike its competitors, the pub’s brand in Struan is enhanced. As such, business services meet customers’ expectations. Similarly, the two brothers have vast knowledge in business that can help the pub to increase its sales in the future.
As compared to competitors’ facilities, Fork and Dagger’s facilities are older. Considered that there is huge competition in the hospitality industry, the pub’s older facilities can be a weakness. Therefore, the consumers can opt for the competitors’ products as alternatives.
In the future, the increasing demand for purely lesbian, gay, bisexual, and the transgendered, LGBT, community’s pubs will enhance the company’s market share. The market segment presents an opportunity for the business. If the pub focuses on satisfying the LGBT’s needs it will gain a competitive advantage over its rivals.
A major threat faced by the company is speedy technological transformations in the entertainment industry. The threat puts pressure on the company’s future success. Every year, the company must adopt new entertainment technologies to be ahead of its rivals. If they fail to do so, its rivals will fill the gap and gain an advantage over the company.
In the case study, the primary problem is related to Bradley and Jason’s views with respect to the future of Fork and Dagger (MacKenzie, 2004). As such, the two brothers have different proposals on how the business should be transformed. Bradley believes that the pub should be turned into an LGBT pub. On the other hand, Jason believes that the pub should only be renovated. The father is having a hard time because he has to choose between the two proposals without disappointing the two sons. Similarly, he has to choose a proposal that will be sustainable for the business.
With respect to the case study, four alternatives can be implemented. The pub can specialize in meeting the LGBT’s needs. It can also renovate its facilities and services. The pub can also refurbish its facilities and open another subsidiary pub that meets the LGBT’s needs. Similarly, the business can hire a business or a financial advisor to help it in its turnaround process.
One of the above alternatives should be implemented to ensure the viability of the business in the future. If the pub targets the LGBT community, the profits generated will be used to evaluate the effectiveness of the alternative. Similarly, if the pub refurbishes its facilities and services the profit will be used in evaluating the effectiveness of the alternative. Considered that the pub opts to renovate its facilities and open another subsidiary pub that meets the LGBT’s needs, market share will be used as an evaluation tool. If the business hires a business or a financial advisor to help it in its turnaround process, staff motivation will be utilized as an evaluation tool.
Analysis of the alternatives
By focusing on the LGBT community, the business may regain its dwindling profits because there are fewer pubs targeting the community. The disadvantage associated with the approach is that the LGBT community comprises of the minority members of the society. Similarly, if the pub renovates its facilities and services its profits may increase because clients require innovative products that meet the value for their money. The disadvantage associated with the approach is that the initiative may not attract or retain more customers. Over the last decades, more pubs have been launched in Struan. The pups are now competing with Struan to gain and retain more clients. By renovating its facilities and opening another subsidiary pub that will meet the LGBT’s needs, the business may increase its market share and gain a competitive advantage. The disadvantage related to the approach is that it will be very expensive for the company to implement the alternative. If the business hires a business or a financial advisor to help it in its turnaround process, staff motivation will be utilized as an evaluation tool. The approach will be of benefit because the expert will introduce the much-needed changes required for the business to turn around. The expert’s efforts will eventually increase staff motivation leading to increased productivity (Kramer, 2012). The major disadvantage associated with the alternative is that it will be expensive to implement it.
I would recommend that the pub renovates its facilities and open another subsidiary pub for the LGBT community. Through this, the company will be able to sustain its economic viability in the future.
The two brothers will help in implementing the above alternative. The alternative will enable them to apply what they had stated in their proposal. The alternative is the most appropriate because it will ensure that the brothers become committed to the business in the future. The alternative should be implemented immediately to revive the dwindling profits.
If the chosen alternative fails, the business should hire a business or a financial advisor to help it in its turnaround process. With vast experience in reviving troubled companies, the advisor will highlight measures to be taken to revive the business.
Kramer, M. (2012). Streetwise small business turnaround: Revitalize your struggling or stagnant enterprise. Holbrook, Mass.: Adams Media.
Get your first paper with 15% OFF
MacKenzie, H. (2004). Fork and Dagger. (2nd ed.). Toronto: Pearson Prentice-Hall.