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LARDO was opened in July 2012 at Richmond Road, London and introduced itself as Italian cuisine restaurants. This place is generally famous for the sandwiches but also its serves pizza, sandwiches, drinks, etc. This restaurant is best known for the warmest welcome in London. This restaurant is build on a retro theme and serves the quality food and has a strategy of keeping skimming prices. Lardo opened its another subsidiary COPPA which is a bar in 2014. further, it also opened LARDO bebe which is mainly a take away restaurant. It also plans to open LONZO in this coming year.
LARDO is a restaurant and it falls under the hospitality industry and in this industry there are many other areas such as tourism, hotels, event, resort, etc. Hospitality in general term means kindness in welcoming guests and strangers. In present scenario, hospitality industry I the most flourishing industry due to changing demographics and changing lifestyle of people. This industry covers all the aspects that is operations, profit history and current market efforts.
The promotion of LARDO is done through online advertising on its website. The current advertising is done for the Christmas. Also it promote about its product by selling LONZO bread at Druid St Market. Moreover the promotion is done through media advertising and hoardings.
It is currently planning to open its new venture that is LONZO in a coming year in order to expand its business.
In addition to this, it has planned to provide Christmas do for the group of 8 or more at LARDO bebe.
Along with that, it is keen to provide employment opportunities to the young and energetic professionals.
This analysis is basically refers to as a one of the concept which are used to analyze the macro-environmental elements affecting the business activities. The analysis is conducted as follows:
Social: The demographics is changing and people of UK prefers to have multi cuisines. For this purpose, LARDO has established its business so as to satisfy the needs of customers. Moreover, firm should take care that beliefs and culture of society does not get undermine.
Technological: In order to get success in the industry and reach to the higher level, a restaurant should cope up with the technological advancement. However, to install new equipments high cost need to be incurred which is not in the budget of SMEs. Thus it limit the growth of this sector.
Economic: Small business enterprise are the basic elements which contribute in the growth of economy. Thus LARDO restaurant leads to the GDP growth. However, these enterprises are one which is highly affected due to increasing inflation rate, recession and other economic crisis.
Environmental: Restaurants like LARDO has to take extra care about the protection of environment. As these enterprise come under more focus if they are destroying the environment. Thus, LARDO should initiate for the protection of environment.
Political: Change in government and its policy has a greater impact on small businesses as they do not have that much power to oppose the changes and employing new policies involve huge cost.
Legal: There are many laws related to hotels and restaurants such as food allergic laws, EU laws, etc. which a restaurant has to keep in mind while making food so that it does not harm the customers. Moreover, employment law and competition law also to followed by the LARDO restaurant.
Ethics: The values and ethics should not be undermined by the restaurant such as serving what is mentioned in the menu book. Non-discriminatory practices should be adopted and fair game should be played in the industry.
In order to do the competitive benchmarking two competitors need to be analyzed. One is the high performing that is Kean's Head and other is under-performing that is Stella's Kitchen. There are various steps involved in this analysis which are discussed as follows:
Planning: To provide assistance to all types of customers that is to make a smoking zone within 3 weeks for the smokers so that non-smokers does not get distracted by taking this view form Kean's Head. Than providing employment to the freshers of hotel management till December 2016 as Stella's kitchen is doing the same. Firm will require financial and physical resources to carry out this function. Moreover, it is to be seen that discrimination is not done.
Analysis: Company should compare its existing performance and customer review with that of the strategy of Kean's Head and Stella's Kitchen in order to bring changes in the strategy being designed.
Action: Implementation of plans should be done and these should be shared and communicated with the stakeholders of the enterprise. If they suggest any changes than improvement plan should be developed and accordingly changes should be made.
Review: After the implementation of changes, management should review and monitor the effects of changes. If there is any variations in accordance with the set benchmark than the control measures should be applied so that actual output meets with the set standards.
As per the whole situation analysis it can be concluded that it has good strengths and opportunities. If it work upon these two than weaknesses and threats can be overcome in a lesser period of time. The quality o food has been maintained and customer base of the firm is remarkable.