Environmental Analysis of New Restaurant Essays

Environmental Analysis of New Restaurant Essays Environmental Analysis of New Restaurant Paper Environmental Analysis of New Restaurant Paper Restaurant Industry Analysis With an increasing number of people working in office environments and growing amply households with two parents in the workforce, time to prepare food at home is limited. Consumers under time constraints are opting to eat outside in cafes and restaurants, with price-conscious consumers often turning to fast-food options such as mobile trucks and street stalls. Restaurant industry has four general segments according to the service customers receive: full service, quick service, eating and drinking place and retail host. Full service dining locations do not require any food preparation by customer as well as service of food. Fast-food chains that offer buffets and aka-out service represent quick service locations. Eating and drinking place sector includes caterers and refreshment stand vendors. And the retail host is located within the gas stations and retail-host restaurants. Fine dining restaurants are full-service restaurants with an upscale menu and extensive beverage offerings. The restaurants generally have a more sophisticated dcore and ambiance, the wait staff is usually highly trained and often wears more formal attire, and there is often a dress code for patrons. The most important factors that customers expect from the upscale dining establishment are food quality, service and VII treatment. The profit of fine dining establishments depends for the most part on business entertaining, and the volume of the business people that charge their dinners on expense accounts declined dramatically after the recession. As a result, the upscale dining segment is reconsidering their offerings very carefully in order to be able to compete in the market and attract customers. Since the consumers are still watching their spending a majority of upscale dining restaurants went in the direction of new pricing strategies and innovations as well as creating casual dining environments. Trends Of casual fine dining have led to the implementation Of two different concepts within one establishment: casual bar areas with small-plate offerings and formal dining spaces for the whole experience. Key trends that help the restaurant industry to keep the balance and improve the sales are mergers and acquisitions, driven by private equity firms with greater access to the capital markets; open credit markets with improved rates, terms and required equity contributions and the focus on the local sourcing, sustainability, and nutrition that top menu trends. The environment that a company operates in goes far ended the industry and even farther than the industry segment where company has business. That environment is defined as companys macro- environment and is composed of seven components that have the potential to affect the company and its competitive environment: trends of technology, demographics, economic conditions, political and regulatory factors, social forces and global factors. These entire factors can influence the company in different ways and to different degrees. External drivers of the upscale dining segment in the restaurant industry are per capita disposable income, employment status, healthy eating index, nonuser spending and consumer sentiment index. Per capita disposable income determines the ability of the population to spend money on goods and services. Wealthy populations will be influenced by the tax rate and rising prices on the high end and luxury goods that could slow down the real income growth in 2013-2017. Employment status is positively correlated with the dining out and choice fewer and how often. Rising national unemployment rate can negatively affect the restaurant traffic, the upscale segment specifically. Healthy eating index is the percentage of a recommended diet that an average American consumes. The overall trend towards eating vegetables drove up the vegetable prices as well as produce prices. Another trend is low carbohydrate and high protein diets that will increase meat consumption. Consumer spending is defined as amounts spent by the population on services and goods inside the country and abroad. A brighter outlook of the economic recovery and higher employment drive the increase in consumer spending rather than savings. Consumer sentiment index was affected by growing corporate profits in the last two years and ability of businesses to keep wage costs down. All of that stimulated the customer sentiment. In April 201 2 consumer sentiment index reaches its highest for the last year that will be reflected hopefully later in the increase Of restaurants visits. Technology Factors Going mobile and moving faster is the technology trend in the restaurant industry that shapes all the segments through different innovations. The use of a smart phone and ability to access restaurant booking system from mobile platforms decreased the number of phone calls for reservations as well as allowed the restaurant operators to gather data for marketing purposes. Another trend is check in services like Foursquare that presents context-aware type of advertising and attracts the customer with its sophistication. Mobile payment systems like GOOGLE wallet that stores your credit cards and loyalty cards as well as promotional offers will speed up the payment process and secure customer information. Demographic Factors In June 2011 persons aged from 24-35 were the most frequent visitor to the fine dining establishments. This age group represents 31 percent of the population visiting fine dining restaurants. In regards to household income, those who earn one hundred thousand dollars or more are the most frequent visitors to fine dining establishments. That is great insight for the marketing department of the fine dining segment to study the preferences and address them as well as it is a clear target for customer attraction. Economic Factors The economic situation should improve cautiously through 2014 with positive outcome for all the industries as well as fine dining sector of food service. The industry still shows low measures of consumer sentiment and cautiousness of firms about full-speed operations. There is also the presence of weak labor market conditions and slight gains in manufacturing production as well as elevated risk premiums. All these factors result in the slow process of economic upturn. Political Factors There are many policies and regulations that can affect the upscale segment of the restaurant industry, many of them related to the health and food issues, jobs and career as well as profitability of the business. If final regulations that are related to nutrition disclosure issues will be published in 201 2, when the law takes effect, restaurants with 20 or more locations will be required to provide caloric information on menus. There are two bills still pending in Congress to make the 1 5-year restaurant appreciation schedule permanent, which will allow restaurants to write off, or depreciate, the cost of improvements and new construction over 15 years, rather than 39 years. This uncertainty is holding many companies from capital expenditures since it reduces the cash flow by approximately four thousand a year. Business meal deduction from DID percent to 50 percent in 1992 decreased the profitability of restaurants and affected the upscale segment that is heavily relies on conference room business. A proposed 80 percent business meal deduction could Increase business meal sales by 7 billion dollars. Socio-cultural Factors Socio-cultural forces that include attitude of the society, families lifestyles and change in values impact the industry over time. Shift in preferences is obvious: people are looking for healthy and freshly prepared food, leaning towards premium products and value.

Easy and Fun February Writing Prompts

Easy and Fun February Writing Prompts February can be a tough month for many students with very few if any days off. Many school districts across the nation do not take Presidents Day off. Following is a list of themes and writing prompts for each day of February. These can be used any way you see fit in your class. They are great as warm-ups or journal entries. February Holidays American Heart MonthBlack History MonthChildrens Dental Health MonthInternational Friendship MonthResponsible Pet Owners Month Writing Prompt Ideas for February February 1 - Theme: National Freedom DayOn this day in 1865, Abraham Lincoln signed the Amendment that would outlaw slavery once it was ratified. If slavery was outlawed with the 13th amendment, why were amendments 14 and 15 needed?February 2 - Theme: Groundhog DayAccording to weather data kept since 1887, the groundhog at Punxsutawney, Pennsylvania has only been accurate 39% of the time. Why do Americans still celebrate this day even though its accuracy is so low?February 3 - Theme: Elmos Birthday (Sesame Street Character)What was your favorite television program as a small child? Which characters do you remember most? Why?February 4 - Theme: Rosa Parks BirthdayPretend you were Rosa Parks in 1955. What would you have felt like as you decided not to give up your seat to a white man?February 5 - Theme: National Weatherpersons DayMeteorology is the study of the atmosphere, especially as it relates to the weather. Do you think that being a weatherperson would be a difficult job? Why or why not? February 6 - Theme: Monopoly First SoldWhat is your favorite board game? Explain why you like it.February 7 - Theme: Charles Dickens BirthdayIn the past, individuals who did not have the money to pay their bills were thrown in debtors prison, a theme which is key in many of Charles Dickens novels. Do you think that this is an appropriate punishment for not being able to pay off your bills? Why or why not?February 8 - Theme: Boy Scouts and Girl Scouts (Officially Boy Scout Day)Were or are you a boy or girl scout? If so, what did you think of your experiences as a scout? If not, do you wish that you had participated in the scouts? Why or why not?February 9 - Theme: Chocolate (Founding of Hersheys Chocolate)Describe your favorite candy bar. You can choose to do this as prose or as poetry.February 10 - Theme: Chinese New YearIn the western calendar, a leap day happens every four years. However, in the Chinese calendar, a leap month happens about every three years. Come up with and explai n at least three issues that might arise if the west decided to use this calendar instead of the one that is currently use. February 11 - Theme: National Inventors DayHave you ever come up with an idea for an invention? If so, describe it. If not, what do you think is the best invention of the 20th century.February 12 - Theme: Abraham Lincolns BirthdayAbraham Lincoln said, Most folks are as happy as they make up their minds to be. What do you think he meant by that quote? Do you think its true?February 13 - Theme: International Friendship MonthDo you have any friends that live in another country? If so, explain how you became friends. If not, if you were to become a penpal with someone from a foreign country, which country would you choose? Why?February 14 - Theme: Valentines DayWho do you care about the most? Why do you care for them so much? Explain.February 15 - Theme: Susan B. Anthonys BirthdayAt the time that womens suffrage passed, there were many women who argued against giving women the right to vote. Why do you think this was?February 16 - Theme: American Heart MonthWhat do you do to lead a healt hy lifestyle? What do you think you could improve on (e.g., eat better, exercise more, etc.)? February 17 - Theme: Random Acts of Kindness DayHave you ever performed a random act of kindness? If so, explain what you did and why. If not, come up with a random act that you can perform later today and explain your plan.February 18 - Theme: Pluto DiscoveredWould you ever consider going on a trip to the moon? Why or why not?February 19 - Theme: Phonograph was PatentedHow do you buy and listen to music today? How does this differ from the way your parents did it? In your opinion, how have these changes affected music and the music industry?February 20 - Theme: Responsible Pet Owners MonthDo you or does your family own a pet? If so what type of pet is it? What are the pros and cons of owning a pet?February 21 - Theme: Washington Monument DedicatedHave you ever been to Washington, D.C.? Why do you think that the nation has created monuments like the Washington Monument or the Jefferson Memorial? Do you think they are important symbols? Why or why not?February 22 - Theme: George Washi ngtons BirthdayThe story that George Washington could not lie when asked if he cut down a cherry tree is not true. It was written after his death. Explain why you think a biography might create a story like this when writing about someone famous who they admire. February 23 - Theme: Iwo Jima DayDo you think that you would like to join the military at some point in the future? Why or why not?February 24 - Theme: Andrew Johnsons ImpeachmentTwo presidents have been impeached: Andrew Johnson and Bill Clinton. However, no president has actually been removed from office. It only takes a simple majority of the House of Representatives to be impeached (or basically found guilty of a crime). However, it takes 2/3 of the Senate to remove a president from office. Explain why you think the founding fathers made this so difficult?February 25 - Theme: Paper CurrencyWhat are the pros and cons of having paper currency instead of carrying around coins made of gold, silver, or some other precious metal?February 26 - Theme: Grand Canyon EstablishedWhy is it important for the national government to protect and manage natural treasures such as the Grand Canyon?February 27 - Theme: National Strawberry DayWhat is your favorite fruit? What do you like about it? If you do not like any fruit, explain why not. February 28 - Theme: Republican Party FoundedWhich political party do you think represents your views the most? Why do you think this is so?February 29 - Theme: Leap DayExplain how a person could logically claim that they have only had 8 birthdays when they are actually 32 years old.