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Strengths, Weaknesses and Strategies for Sugar Bowl - Essay Example

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The paper "Strengths, Weaknesses and Strategies for Sugar Bowl" describes that one of the actions that the company needs to do in the process of improving its efficiency is fully capturing a good part of the adult target market, which can be done by expanding the entertainment market to include adults above 35 years. …
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Strengths, Weaknesses and Strategies for Sugar Bowl
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Download file to see previous pages Sugar Bowl can effectively take maximum advantage of this student presence in order to increase their visitation to the business especially on some of the slow nights (Hamermesh and Zalosh, 9). Additionally, it is important to realize that since its opening, Sugar Bowl has been experiencing slow growth, having been in the industry for only one year; generally, restaurants and bars often take close to five years in experiencing solvency. Sugar Bowl boasts of a good target market that comprises of many graduate students and young professionals who will enhance its growth and success.
Some of the goals regarding the operations of Sugar Bowl include an inability to retain some of its competent sales staff. This means that the company is often left with the option of having its unused capacity being supplemented by other outside workers. Additionally, the company has a problem with compensating its staff in order to elicit maximum support from them. In improving the compensation criteria, the company can be in a better position to enhance their staff morale while reducing the high turnover that it faces.
Additionally, the company has high training costs and theft cases, which are said to be emerging from within. Through such activities as effective staff training and motivation, the company will enhance its success and performance, something that will aid in its achievement of goals and objectives. Through effective staff empowerment initiatives, Sugar Bowl will experience reduced daily operations for its management teams (Hamermesh and Zalosh, 10). The company’s inability to predict its sales revenue in the most effective way has also been a major weakness in its growth prospects.
Some of the opportunities that Sugar Bowl is facing in its growth and success are largely depended on the need to capture new markets presented by the target marketing, who are students and other young people generated by the universities available in this area. ...Download file to see next pagesRead More
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