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Question: For the Unit VIII Project, you will complete the final components of your implementation plan. Fo…

by | Nov 30, 2023 | Posted Questions



For the Unit VIII Project, you will complete the final
components of your implementation plan. For Part 3, you will focus
on the following points:  internal and external issues, 
competition ,  future outlook for the organization, and 
implementation of tools for measuring business success. Much of the
information you will need to complete this segment can be found in
the case study in the textbook.

Buffalo Wild Wings (BWW) Company Analysis

Part One: Products and Services and Company
History

The company selected for this analysis is Buffalo Wild Wings
(BWW). With its headquarters in Minneapolis, Minnesota, BBW is the
largest chicken wing-based sports bar in the USA. BWW specializes
in traditional boneless chicken wings and bone-in chicken wings.
The company’s website states that wings, beer, and sport are the
most important products and services. The management believes that
beer and wings go hand in hand, and are also accompanied by sports.
BWW makes its boneless wings with all white meat chicken. The wide
range of beers provide different brews from which customers choose.
Besides, BWW is a sports bar for fans of sports- from basketball to
fight night, customers watch live sport events at BWW.

BWW started in 1982 with a single restaurant in Ohio and has
since grown to have a store in every state in the country. Two
friends, Jim Disbrow and Scott Lowery, crafted the authentic
Buffalo wings that they had loved. The first restaurant was a hit
with college students who helped it to gain a fanatical following
throughout the country. Disbrow and Lowery opened several BWW
restaurants at a fast pace and the original customers returned with
friends and families. In twelve years, the concepts of beer, wings,
and sports all-in-one grew to thirty-five locations, which
compelled the founders to hire Sally Smith as the CFO in 1994. The
CFO led BWW through a successful public offering in November 2003,
and BWW celebrated twenty-five successful years in 2007.
Furthermore, Canadians welcomed BWW in 2011, and the company also
announced expansion into Puerto Rico and the Middle East in
2012.

Analyzing Strategy, Mission, and Organizational
Structure

BWW states their mission as, “Our mission is to WOW people every
day.” The company is guest-driven and seeks to WOW customers every
day by ensuring the highest level of satisfaction with a constant
focus on fun, value and friendly services and food. Also, the
mission states that BWW is team-focused and seeks to WOW its team
by providing equal respect, fair treatment, and positive
encouragement to all members within the organization. The strategy
involves providing a diverse range of products and ensuring that
guests enjoy more than just food at the restaurant. The company is
dedicated to excellence and attributes success to the dedication
and hard work of the team. The first notable aspect of the strategy
and mission is the specification of products and services. The
mission statement mentions the wings as the company’s main focus.
Also, the strategy identifies the primary technology for delivery
or product and specifies the primary market.

From the mission, we understand why BWW sells products that are
augmented through their experience and service. The company sells
famous wings, beer, and other menu items, and guests also enjoy
live sports channels. The employees are BWW’s most important
assets, and are the technology for product delivery. The company
recognizes the importance of its staff, alongside exceptional
products, as the main reason that customers return. BWW has a
typical organizational structure consisting of a CEO, executive VP,
chief operating officer, talents’ manager, and so on. This formal
organizational structure is appropriate because BWW is currently a
large company with branches in all states. A formal structure
ensures smooth running of activities, attracts and retains the best
talents, and boosts shareholders’ confidence.

References

Buffalo Wild Wings. (BWW, 2016).
Company Profile. Retrieved from
https://www.buffalowildwings.com/en/about/

Ruzzier, M. K., Ruzzier, M., Hisrich,
R. D., & Edward Elgar Publishing. (2013). Marketing for
entrepreneurs and SMEs: A global perspective
. Cheltenham:
Edward Elgar Pub. Ltd.

Company Name: Buffalo Wild Wings, Inc.

SWOT Analysis

Strengths

Opportunities

Internal

External

·         Increase the
number of restaurants by 105 in 2013 and 2014 in new markets and
countries.

·         Global expansion
and brand name development.

·         Room for growth
and attainment of company objectives.

·         Increase
profitability and product quality over its competitors.

·         Witness the
prosperity and welfare of its competitors; Yum! Brands (NYSE: YUM)
Kentucky fried chicken in China.

·         Massive
advertisement of the products and menu options like; Facebook
specials on burgers, fish tacos, etc.

·         Commitments to
dividends enhancing more attraction to stock in market.

·         Emphasize on the
many demographic locations and atmosphere to capitalize creds.

·         Emphasis on the
brand fits in the community as a neighborhood in unity.

·         The BWWs need to
stabilize the menu and retail its memorability.

·         Provides 20-30
different beers drafts, 10 projection TV screens and 50 smaller
TVs.

·         Offers 16
different saucer for wings.

·         Has 25, 500
employees; 2800 full-time and 22,300 part-time.

·         Has a strong
management team.

·         Well development
internal communication.

·         Strong brand name
(Buffalo Wild Wings)

·         The employees
focus on operational excellence.

·         Has no debts
preserving cash approximately $83 million.

·         Prices are lower
than its competitors.

·         Offers a great
atmosphere for its customers.

·         Has a wide range
of services; catering a wide range of customers (families, chicken
wing lovers and sports enthusiasts.

·         Has 891
restaurants in 49 U.S. states and 7 others in Ontario.

·         Approximately 59%
of the BWWs is franchised and operated by franchisees.

·         The football
session is in full swing and basket us yet to pop up.

·         Has more
advertisement in TV and web.

·         Its growth
enhances easy transfer of risks to other when expanding to newer
markets.

Barnes240356

Weaknesses

Threats

Internal

External

·         Over reliance on
chicken sales.

·         Low second
quarter sales than the other quarters.

·         Utility of high
costs of products hence lower income.

·         BWW has not done
enough to make sure that the potential customers are aware of their
menus.

·         Burden in
acquiring and retaining the liquor licensing agreement.

·         No yield to
protection of the stock from a 21% short; an interest willing to
pressure the stock.

·         Most alcoholic
sales that may risk or disrupt the sale of chicken.

·         Limited online
marketing & presences.

·         Has a low market
penetration.

·         Low revenues due
to seasonality of the business.

·         Stubborn
competition from privately based sports bars.

·         Growth in the
comparable same store sales in slowing year by year.

·         Concentrated more
to the western America; i.e. Ohio hence risking when recession were
to take place.

·         Experienced bad
sporting season.

·         Chicken wings
price volatility.

·         Over-substitution
of the offered products in an aim to satisfy customer.

·         Introduction of
Yum! Brands; introducing the first stand in Texas due its size and
purchasing power within the market cap.

·         The Yam! Has a
very lower P/E at 21 yielding 1.9% which has authorized buybacks of
one million in shares hence initiating more attractive stock to
potential investors.

·         Difficult in
opening new demographic locations due to strict liquor licensing
agreement.

·         Faces intense
competition from other sports bars.

·         Has no expertise
as the Yam! Brand and contacts as Yam! Brand hence inferior.

·         Face of threats
in widening its market outside Northern America.

·         Lifetime drought
enhancing chicken prices soaring.

·         Wings as menu
item and snacks are popular hence tripling the prices.

·         Difficulty in
retaining and stabilize the memory of the menu in the past.

Barnes240356

How the above information will be used:

Significance & Utility of the SWOT Analysis to
Company

In consideration to 1982, the company has managed to enhance a
very unique brand experience with various companies; hence managing
to receive award in winning sauces and wings, beers and luxurious
atmosphere for the customers. The experience is used to counterpart
the competitors gathering customers from sports enthusiasts. The
BWWs marketing program is meant to build an awareness of the
company’s brand name to all the sports fans; this increases their
chances of paying a visit to the restaurant and develop some
personal experience with the Buffalo Wild Wings. The analysis
enhances same store sales promotions, drive trials and aid in the
support of a stronger restaurant establishment in other markets and
countries. Marketing campaigns of the BWW had some themes which
reflects its lifestyle and behaviors; the analysis of the
opportunity in market expansion is a cornerstone in innovation of
the company’s key brand agenda in the campaigns for instance; the
media, partnerships, promotions, and experiences on foods and
beverages increasing a theme of social engagement and
interaction.

Utility

The BWW company uses the analysis to employ more people in
market development strategies and market penetration. This is a
goal to be achievable due to the numerous restaurants across the
globe. Moreover, in order to reach more customers, the company
initiate plans to open us more restaurants in the nearby years
hence creating a competitive advantage over its competitors. With
this in mind, it aims at opening more in Canada and the US.
Furthermore, franchisees are a significant element of the BWW; it
focusses on maintaining splits of the franchised owned to its
shares. Development of strategic plans like opening new stores in
new countries and across the globe is a risk taking action that
invites risks like;

–      
A limited brand awareness

–      
Numerous supply chain issues

–      
Realization of unknown competitors etc.

The company intends to use the information to penetrate to new
international markets through the process of joined ventures using
an established global brand name. A company’s SWOT analysis
enhances a yield of close to $30 in the discounted cash flows and
financial analysis that enhances it reach the target prices. In
evaluation of the disclosure controls and the procedures; are made
to make sure that the material information is relating to the
company and this is required to be disclosed by the BWW where the
securities exchange act of 1934 is processed, recorded, summarized
and reported. In an aim to design and evaluating the disclosure
procedures and controls, the BWW management that the procedures and
controls; and it doesn’t rely on the design operation but provide a
vivid assurance in achieving a very desired control over the set
objectives; in the process of reaching a reasonable level of an
assurance. This make it applicable to reasonable cost beneficial
relationship in controls and procedures. The BWW carried an
evaluation, considering evaluation supervision and participation in
the company effectiveness of the company and operation of the BWW
disclosure, controls and procedures.

Internal Control on Financial Reporting

The management of the BWW is significance on establishing of an
adequate internal control of the company over the financial
reports. The company internal control is enhanced by the analysis
examination and is examined by the chief executive officers and the
wide range of the board of directors and the management
personnel.

Barnes240356

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