Provide information for each of the questions presented pertaining to an environ

Question

Provide information for each of the questions presented pertaining to an environmental analysis in regards to the restaurant undustry and the opening of a new Caribbean restaurant.


Questions. 1. What are the strategically relevant factors in the macro-environment?
2. How strong are the industry’s competitive forces?
3. Identify the 3 strongest common drivers listed on table 3.3 that most likely contributed to these industry changes, and explain the specifics of these drivers as they relate to this industry.
4. How are industry rivals positioned in the market?
5.What strategic moves are rivals likely to make next?
6. What are the industry’s key factors? 4. How are industry rivals positioned in the market?
5.What strategic moves are rivals likely to make next?
6. What are the industry’s key factors?
7.Is the industry outlook conducive to good profitability?

PLEASE PROVIDE DETAILED RESPONSES TO ALL 7 QUESTIONS. Firms in Other Industries Offering Substitute Products Competitive pressures coming from the producers of substitute products Rivalry among Competing Sellers Competitive pressures stemming from supplier bargaining power Competitive pressures stemming from buyer bargaining power Suppliers Buyers Competitive pressures coming from other firms in the industry Competitive pressures coming from the threat of entry of new rivals Potential New Entrants

Explanation / Answer

2.The competitive forces in restaurant industry are pretty strong and quick at adapting to changes in the market. The competitor behaviour in this industry are based in these factors:

These competitive factors make it a very fast pace changing industry where a new entrant will have to keep innovating in not only its products but also the extra customer experience to drive its sales.

3.The three strongest common drivers which have contributed to industry changes are:

4.Industry rivals are fighting at low margins and customer experience in a highly saturated competitive market. There are several Caribbean restaurants like Havana Social, Cuba, Negrila village, Cabana and others whose main focus is creating a great customer experience by providing not only authentic Caribbean dishes but also attracting customers with Caribbean themed restaurants having a Caribbean island ambience. They have added live music catering to a Caribbean ambience which customers cannot find in other restaurant chains or home delivery products.

5. The strategic moves which rivals can make in future are:

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