SWOT Analysis for Hard Rock Cafe

User Generated

nprirqbneiryb711

Business Finance

MGMT 295

DeVry University

Description

Paper Format

Correctly produced APA parenthetical citations and reference list. You must have a minimum of three external research sources, in addition to the Robbins and Coulter text.

Spelling, grammar, organization

You need to write a minimum of one paragraph for each sub-section of the outline. You must use this document to organize your paper.

You do need to use all the numbering system, lettering, and headers/sub-headers from the outline to organize the entire paper. Copy and paste the framework, then write your content in paragraph form in each section, citing your sources.

Section 1

Write a brief company history, including a mission statement.

Describe a strategic direction that the company is pursuing.

Explain how the organization's mission statement reflects their strategic direction

Section 2

Thoroughly research and analyze two opportunities and two threats that this organization is facing. Each of these opportunities and threats must come from a force or forces occurring within a dimension or dimensions of the general environment within the organization's external environment (Keep in mind an opportunity or threat can stem from more than one dimension within the general environment.). Be sure to include in your discussion the relevant dimensions of the general environment from which each of these forces is derived that are creating the specific opportunity or threat for the organization.

Section 3

Prepare the SWOT Chart

Thoroughly explain at least two major strengths and two major weaknesses (review Chapter 9) of the organization culture.

For each strength, discuss why this strength can be considered a distinctive competence for the organization

Include in your analysis an explanation of how each of the opportunities and threats will likely impact the company and why. Include other companies/industries on which this may also have an effect. You should have a minimum of a full paragraph for each discussion of each opportunity and threat.

You should have a minimum of a full paragraph for each discussion of each strength and weakness.

Section 4

For each strength, discuss how the company could do to leverage that strength.

For each weakness, discuss what the organization could do to minimize that weakness.

Discuss how the organization can capitalize on the opportunities that are occurring from the dimensions from within the general environment and how the organization can neutralize the threats that are occurring from the dimensions from within the general environment.

Note: Bullet points are not acceptable.

Examples of Strengths:

Strong brand name or company reputation

Cost advantages over rivals

Product innovation capabilities

Good customer service capabilities

Examples of Weaknesses:

The organization has outdated product features.

Poor supplier relationships, an understaffed marketing department

High employee turnover

Low R & D expenditures compared to industry averages

Examples of Opportunities:

Expanding into new geographic markets (either national or international expansion)

This opportunity would stem from forces from within the economic and international dimensions.

Falling trade barriers in attractive foreign markets

This opportunity would stem from forces within the political/legal and international dimensions.

Advances in technological know-how to create new product lines

This opportunity would stem from a force within the technological dimension.

Changing an existing product or service or creating a new product or service to meet a broader range of consumer needs

This opportunity would stem from forces within the sociocultural dimension.

Examples of Threats:

A slowdown in the market growth within the market in which the organization competes within

This threat would stem from a force from within the economic dimension.

A shift in the consumers’ tastes and preferences away from the product or service being offered in the industry

This threat would stem from a force from within the sociocultural dimension.

A foreign government creating restrictive trade policies

This threat would stem from forces from within the political/legal and international dimensions.

A competitor has created a new cheaper, better technological advance that enables them to sell a similar product at a lower cost

This threat would stem from a force from within the technological dimension.

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Explanation & Answer

Progress Update:I am still working on this paper. Section 3 was quit lengthy and needed some considerable efforts in research. I am through with the section, and I now completing section 4 which is less lengthy. I will need at least 1 to 2 hours to be through. Thanks in advance.
This work is complete, please see the attached response (below).

Running Head: SWOT ANALYSIS

1

SWOT Analysis:
Hard Rock Café International Corporation
Student’s Name
Professor
Course
Date

SWOT ANALSIS OF THE HARD ROCK CAFÉ INTERNATIONAL CORPORATION
Section 1
History of Hard Rock Cafe
Hard Rock Café is a multinational company that has 51 global destinations, and offers
services that include merchandise, hotels and casinos, and live music performance. It has humble
beginnings traced back in 1971 when two Americans were looking to find and eat an American
styled bugger while living and working in America. They began a Hard Rock Café which could
offer these services. In 1973, the café was growing, and they had their first live music event, and
currently they have hosted over 15,000 music events. In 1974, they sponsored a sports team and
the team had the company’s logo on the back of their T-shirts. Amazingly the T-shits gave them
more business than the Café. The company celebrated its 40th Anniversary in 2011 (Hard Rock,
2018).
Hard Rock’s Strategic Direction
The company has proven to be interested in global expansions since 1982. In 1982, the
first hard Rock Café in the United States was opened in LA. By 1994, the company had Cafes in
Mexico and Asia. In 1995, the company opened their first Hard Rock Café and Casino at Las
Vegas. All these business globally were decentralized, but they integrated to become one in
1996. The company has also had some CSR initiative which includes the breast cancer
awareness initiative back in 1999, which prove its social responsibility vision. It has been
expanding and has many new five star hotels globally, and even acquired its 80,000th piece of
memorabilia (Hard Rock, 2018).
Mission Statement and how it promotes the company’s strategic direction

2

SWOT ANALSIS OF THE HARD ROCK CAFÉ INTERNATIONAL CORPORATION
Hard Rock Café International incorporated has a strategic direction. Since the first 1071
London Café, the company has grown to 51 global destinations, taking with it fashionable
merchandises, hotels and Casinos, and also the live music experiences. It has been pursuing its
aim to grow globally and it is still planning to expand into new global destinations. The
company’s mission Statement is “to spread the spirit of rock 'n' roll by creating authentic
experiences that rock’ (Hard Rock, 2018). The company has a strategic direction is to expand
into more global destinations. Given their mission, the company is aligned towards its strategic
goal, since it is spreading, and it carrying its business in new destinations globally (Hard Rock,
2018).

Section 2
Opportunities and Threats
One opportunity that the organization has is the growing global economy and ease of
gl...


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