Please enter something
Strategic Audit: Buffalo Wild Wings
Strategic Audit: Buffalo Wild Wings

Strategic Audit: Buffalo Wild Wings

Available Only on StudyHippo
  • Pages: 6 (2803 words)
  • Published: February 1, 2018
  • Type: Case Study
Text preview

In addition to the price of chicken wings, and how the restaurant industry is rule competitive, BOW and Hooters are known as the places to go for wings, but with McDonald's entering the wing business is concerning. McDonald's price point might persuade customer purchase. Another obstacle that BOW faces is going international, trying to establish in Canada and the UK.

The food provided and promotions will have to adapt to the culture and traditions of the abroad Strategic Audit Executive Summary limb Disbars and Scott Lowery founded Buffalo Wild Wings Bar & Grill (BOW) in 1982 near the Ohio State University campus.

Bow's main goal is to provide its customers tit a Buffalo, New York style of chicken wings saturated In a variety of sixteen signature sauces and five signature seasonings. Buffalo Wide Wings restaurants offer 20-30 domestic and imported beers on tap, as well as a large selection of bottled beers, wines, and liquor. BOW restaurants offer a welcoming neighborhood atmosphere, which Includes dining and bar areas that provide distinct seating options for sports fans and families.

BOW provides their guests with the option of widespread multi-media systems, which consists of approximately fifty televisions and projection screens capturing the hearts of sports fans and families alike. BOW differentiates their restaurants by the social environment created and the connection that Is made with team members, guests, and the community.

BOW has won a dozens of "Best Wings" and "Best Sports Bars" awards across the country. Their award winning food and memorable experience drive guest visits and loyalty.

ify">The business strategy that AWE presents is to continuously grow and develop the BOW concept as a national leading, and potentially International leading restaurant chain. 800* company owned and franchise restaurants in states in North America poses as a strong starting ground to expand.

A team of 25,500 members accumulated venue calculated to 303. 8 million, which is a 37. 8% increase from 2012. In most existing markets BOW plans to continually grow and open up new restaurants until a market Is penetrated to a point that will enable them to gain marketing, operational, costs, and other efficiencies.

With intentions to enter new domestic and international awareness in both company-owned restaurants and franchise owned restaurants.

L. Current Situation Current Performance Buffalo Wild Wings (BOW) has been striving since the beginning. As of right now Buffalo Wild Wings currently has 381 company owned locations and an additional 510 re franchised. This creates a grand 891 locations in the United States and Canada.

BOW even proves that their company is growing by a glance at their balance sheet and seeing financial are adequately safe.

Having mostly franchised locations allows the company to have less risk attached. BOW has zero long-term debt. However, they do have other liabilities. The price per earnings is 41. 98 and their stock has doubled within the year.

Furthermore, BOW had a gain in profits nearly 80% over three years. The company is branching out and going international through agreements with new and existing franchisees. 1. Mission Our mission is to WOW people every day. " Four specific how-to-wow strategies

View entire sample
Join StudyHippo to see entire essay
View entire sample
Join StudyHippo to see entire essay

We are Guest Driven - We will WOW our guests every day.

.. ; Wearer Team- Focused - We will WOW our team members...

We are Community-connected - We will WOW the communities where we do business. ; We are Dedicated to Excellence - We will WOW our franchisees and stakeholders. 2. Objectives The overall objective for BOW is to expand and improve as a company. A milestone for BOW in 201 5 is to enhance the company business strategy.

In addition, BOW wants to achieve having 100 chains in Canada by the end of 2015. The plan is to not only expand but also expand internationally continuing in Canada and over to Europe. As for the currently existing locations the objective is to innovate the customer experience and in flavors.

To achieve that an increase in budget for marketing and research on consumers tastes for new wing sauces must take place.

One more milestones would be to create a new sauce for each state by 2016. Finally is to obtain and accomplish 1,400 restaurants by 2017. 3. Strategies The goals for the year are to grow BOW by building up and promoting both the BOW brand and all their restaurant locations. They are not limiting themselves Just mystically.

The reach is international now. Several more locations are hopefully to arise. BOW is striving on their pursuit of accomplishing their Joint venture to be able to go abroad.

There currently are two signed franchises in development in Puerco Rich and in the Middle East. There have been negotiations and agreements for all franchisees.

In addition to that, BOW concept is to have that same BOW brand, all the flavored menu, and charming surroundings. II. Strategic Managers A. Board of Directors The board consists of seven members. Out of those seven, six of them are from outside of the company.

The only insider is Sally J. Smith who has been a director He has been there since 1994. Then follows Dale M. Appliqué's in 1997, J.

Oliver Mudguard in 1999, James M. Damn in 2006, Michael P.

Johnson also in 2006 and finally Jerry R. Rose in 2010. All of the directors on the board deserve to be there with all of their experience. Together they have a well-rounded portfolio including international accounting, marketing, advertising, legal and investment. B.

Top Management The top management was mostly brought in externally. A lot of the management though was taken in from positions where they started at in BOW. Currently the top management has been around in their position for years on end.

They all show that they have been successful so far at BOW in their careers.

With success, it shows that they are responsible. Sally J. Smith is 54 years old and she has been with BOW since July 1996. Currently her position is the Chief Executive Officer and president. She came from Delbert Inc were she was a Chief Financial Officer.

Mary J. Twined is arrears old and has been with the company since 1995. She started at the company being the Controller, moved up to be the Executive Vice President, Chief

View entire sample
Join StudyHippo to see entire essay