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Submitted by nidjah on March 12, 2007
Category: Business
Words: 3035 | Pages: 13
Views: 166
Popularity Rank: 71,108
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Steak n Shake
Executive Summary:
Steak n Shake was founded in Normal, Illinois in 1934 by Gus Belt. Mr. Belt converted his gas station and Shell's Chicken into a hamburger stand. The restaurant opened its doors with several things in mind; first Belt's special focus was on customer service and second he wanted the food he made to be "fresh."
Today, Steak n Shake continues to focus on providing the customer the "best dining experience," with freshly prepared foods. Their commitment to the marketplace is stated in their Code of Business Conduct and Ethics, "Steak n Shake commits to compete legally and ethically. We will act responsibly in our relationships with our guests, business partners, suppliers and each other. We will be honest and fair in our business dealings."
A strength of Steak n Shake is the investment made in the career development of employees resulting in lower employee turnover. Weaknesses include longer wait times in the drive-through
, compared to other drive-through
restaurants, and the lack of nationwide recognition. An additional weakness is the non-appeal to the health conscious consumer. Steak n Shake has the opportunity to expand nationwide and add healthier items to the menu. They are also increasing community involvement. Competition is the primary threat of most restaurants. Steak n Shake also struggles with fluctuation in the economy and negative food press.
Steak n Shake has been funding investing and financing activities internally with operating cash flows and a decrease in cash. This internal funding caused a decrease in liquidity. All of Steak n Shake's activity ratios were below the RMA industry bottom quartiles. The debt ratios were usually between the upper quartile and the median. Profitability ratios started slow with gross profit margin well below the industry average, however, rebounded with net profit above the industry...
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