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Company Audit for Darden Restaurants - Essay Example

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Summary
For the purpose of the external audit the major threats and opportunities faced by the casual dining industry have been identified and the External Factors Evaluation Matrix (EFE) has been constructed. The average weighted score for the EFE is equal to 2.5.
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Company Audit for Darden Restaurants
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Download file to see previous pages For example, the company takes advantage of the contemporary trends in demand towards national cuisine and healthy dining by introduction of the new brands and formats, e.g. Bahama Breeze and Seasons 52. It addresses the growing competition from the other established chain operators, as well as local restaurants, by constant improvement of the operational activities and emphasis on market research and product improvement.
Darden Restaurants is a leader in the casual dining market. Its position, however, is constantly challenged by the two closest competitors, namely Applebee's International and Brinker International. Both operators have established position in the hospitality industry and currently operate big chains of company-owned restaurants under Applebee's brand (Applebee's International) and Rockfish, Chilli's, Romano Macaroni Grill, Maggiano's, On the Other Border Mexican Grill brands (Brinker International).
The areas of strength include market share, financial position, and advertising. Darden Restaurants Company is leading with regard to the most influential factors, including product quality, management, and market share. However, the company can improve its standing in terms of global expansion, pricing strategy and gaining customer loyalty.
The Internal Factors Evaluation Matrix (see below) was constructed to assess the strengths and weaknesses of the functional areas of the Darden Restaurants Company. The strengths and weaknesses are chosen based on how they affect the ability of the chain to take advantage of the external opportunities and limit or control the risks.
Internal Factors Evaluation Matrix (IFE)
Key Internal Factors
Weight
Rating
Weighted Score
Internal Strengths
Financial position (revenues and net income)
.15
4
.60
Steady growth for several years in revenues and EPS
.10
4
.40
Marketing research
.10
4
.40
Constant brand ...Download file to see next pagesRead More
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