Strengths, Weaknesses and Strategies for Sugar Bowl - Essay Example

A SWOT Case Study analysis for Sugar Bowl 1. Strengths Sugar Bowl has considerable advantages that can give it a cutting edge in its business when effectively analyzed and action taken. Some of the goals that can be established regarding the strengths of the business are very much predictable depending on the fast increasing awareness of the company in using effective grass-roots marketing strategies. In this case, the company has the potential to capitalize on the small population that exists in Raleigh. The fact that this area has a good student population provides another important strength for the company. In this perspective, Sugar Bowl can effective 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. 2. Weaknesses 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 of 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 like 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 to its growth prospects. 3. Opportunities 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. Additionally, the company has a great opportunity for business by making a careful analysis and investigation of the league plays. In this perspective, the company should find ways of expanding the program in order to fill some of the capacities on some of the slow nights. Another opportunity for the company lies in the expansion of university and community networks; this process will have the effect of driving new consumers opportunities, which will increase the company’s returns and market position. Additionally, the business needs to ensure that it increases and improves its infrastructure so that it can efficiencies in making some of the most important decisions that can spur business growth and development. By doing so, the business will experience huge sales because of an increase in customer base from the resulting business efficiency and effectiveness. 4. Threats In terms of the business’ threats, the company needs to understand that the process of capturing a large portion of the target market and entertainment sector as a whole requires adequate investment and effective planning. While the process promises good returns, an inability to forecast and prepare for the challenges that may come by can put the business in an awkward positing and failure. Another threat that the company faces is an inability to prepare adequately for the summer season, which often presents a big outflow of clients especially for the target market. For this reason, the business needs to ensure that it examines and devises better alternatives to seizing the opportunity that will present. Lastly, Super Bowl needs to ensure that it expands its revenue effectively so that it can support better loan repayments and other important cash reserves (Hamermesh and Zalosh, 11); in doing so, it will be in a better position to support other contingencies. 5. Actions 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. The expansion process needs to include some of the professional happy hours as well as senior programs. Another important action involves expanding some of the company events like team-building programs and other opportunities for networking with some of the external corporations. In the process of enhancing the business’ growth and success, it is important that it seeks some non-seasonal patrons that will enable it supplement some of its management decisions during off season and slow times. Additionally, the business needs to ensure that it introduces some staff incentives that may include free meals and drinks for its workers after work, it should also try to ensure that in enhances some hospitality pricing especially on bowling, drinks and even on foods during off. 5. Strategies In the process of improving its activities and enhancing its performance, sugar bowl needs to ensure that among the different strategies it will initiate, it needs to remain open, operating under its current management in order to implemented some of the actions identified above. The current management understands the path that the company has taken in reaching its current form, which underpins the need for working with it to improve its performance in the industry. In attracting some new clients to the business, it is important that the business introduces new forms of entertainment like “Quizzo” or live music. For the summer markets, Super Bowl should consider expanding its markets using some of the strategies like effective marketing and other promotional activities. Another strategy that will improve the business prospects includes cutting down on its some of its operational costs that are associated with theft, employee turnover and other foods items that are extraneous. In doing so, the business will increase most of its cash revenues as well as provide the much needed guarantee for its regular loan repayments. Works Cited Hamermesh Richard and Zalosh Alisa. Sugar Bowl. Harvard Business School.1.1 (2015), 1-12. Read More