Ruby Tuesdays Swot Analysis
1. Explain the restaurant's strengths and weaknesses, and justify your explanation.
Ruby Tuesday, develops and operates casual dining restaurants, the restaurants serves American style food with a variety of appetizers, handcrafted burgers, a garden bar, which offers about 38 items, fresh chicken, steaks, salmon, tilapia, crab cakes, fork-tender and ribs. The restaurant can be found across the US and 13 other countries and regions under the Ruby Tuesday brand. The company offer franchises for the Ruby Tuesday concept in domestic and international markets.
2. Identify one (1) way in which the restaurant can utilize its strengths and minimize its weaknesses to be competitive. Explain why you believe this would be effective.
Competitive advantage seeks to address some of the criticisms of comparative advantage. Michael Porter proposed the theory in 1985. Porter emphasizes productivity growth as the focus of national strategies. Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy. The other theory, comparative advantage, can lead countries to specialize in exporting primary goods and raw materials that trap countries in low-wage economies due to terms of trade. Competitive advantage attempts to correct for this issue by stressing maximizing scale economies in goods and services that garner premium prices (Stutz and Warf 2009).[1]
Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high grade ores or inexpensive power, or access to highly trained and skilled personnel human resources. New technologies such as robotics and information technology can provide competitive advantage, whether as a part of the product itself, as an advantage to the making of the product, or as a competitive aid in the business
Ruby Tuesday, develops and operates casual dining restaurants, the restaurants serves American style food with a variety of appetizers, handcrafted burgers, a garden bar, which offers about 38 items, fresh chicken, steaks, salmon, tilapia, crab cakes, fork-tender and ribs. The restaurant can be found across the US and 13 other countries and regions under the Ruby Tuesday brand. The company offer franchises for the Ruby Tuesday concept in domestic and international markets.
2. Identify one (1) way in which the restaurant can utilize its strengths and minimize its weaknesses to be competitive. Explain why you believe this would be effective.
Competitive advantage seeks to address some of the criticisms of comparative advantage. Michael Porter proposed the theory in 1985. Porter emphasizes productivity growth as the focus of national strategies. Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy. The other theory, comparative advantage, can lead countries to specialize in exporting primary goods and raw materials that trap countries in low-wage economies due to terms of trade. Competitive advantage attempts to correct for this issue by stressing maximizing scale economies in goods and services that garner premium prices (Stutz and Warf 2009).[1]
Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high grade ores or inexpensive power, or access to highly trained and skilled personnel human resources. New technologies such as robotics and information technology can provide competitive advantage, whether as a part of the product itself, as an advantage to the making of the product, or as a competitive aid in the business