Expert answer:How do you create an implementation plan for a bus
Expert answer:There are three different parts to this assignment needing to be turned in for three different grades. I have uploaded three pages. The instructions for all three assignments on one page. On another page is the template needed for the Unit VI assignment. On the last page is the case study for Buffalo Wild Wings which is the business I would like to use for all three assignments and is what is referenced to for the assignment with the information needed. Thank you.
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Unit IV Case Study
Implementation Plan:Part 1
During Unit IV, VI, and VIII, you will be working on an implementation plan for a business. The components
within these three units combined will create this plan. Please take a look at the case studies located in
your textbook on pages 372 -636. There are multiple corporations that provide a large array of services and
products. Please select an organization that interests you. You will use this company for the Unit VI and Unit
VIII assignments, as well.
For Part 1, describe the company that you selected, the products/services they offer, and the history of the
company. Next, analyze the company’s strategy, mission, and organizational structure. In your analysis,
include the following:
•What does the strategy, mission, and organizational structure say about the company?
•What are the positive aspects of the strategy, mission, and organizational structure?
•What are the company’s short-term and long-term goals?
•What are ways to improve the strategy, mission, and organizational structure?
Much of the information you will need to complete this segment can be found in the case study in the textbook.
However, you are welcome to conduct further outside research as needed. Some details, such as the short
-term and long-term goals, may not be explicitly stated. Please use your best judgement and analytical skills to
determine that information.
Your project must be a minimum of two full pages in length, not including the title and reference pages. Include
an introduction paragraph.
Unit VI Project
Implementation Plan: Part 2
In Unit IV, you started to creating implementation plan. You selected a company and analyzed their strategy
and mission. In Unit VI, we will continue your work with this company and develop a SWOT analysis.
Remember that a SWOT analysis identifies strengths, weaknesses, opportunities, and threats of an
organization. This is an important analysis for any organization as it can be used for strategic planning. Your
SWOT analysis must be a minimum of two pages in length. Once you have completed your SWOT analysis,
write a minimum of one page, explaining how this information could be used by the company.
Please use the template below to complete the SWOT analysis and explanation. Save the template using your
last name and student ID. For example, John Smith whose student ID is 12345 would save his assignment as
Smith12345. The information you need to complete this analysis can be found in the case studies located in
your textbook on pages 372-636. Outside research is not a requirement.
Click here to access the Unit VI Project template.
Much of the information you will need to complete this segment can be found in the case study in the textbook.
However, you are welcome to conduct further research as needed.
Unit VIII
Project
Implementation Plan: Part 3
For the final assignment of this course, you will continue your work with the company you used in Unit IV and
Unit VI. For the Unit VIII Project, you will complete the final components of your implementation plan.
For Part 3, you will focus on the following points:
•internal and external issues,
•competition ,
•future outlook for the organization, and
•implementation of tools for measuring business success.
Much of the information you will need to complete this segment can be found in the case study in the
textbook. However, you are welcome to conduct further research as needed. For the future of the organization,
you may be creative and add your own insight on where you see the company going.
Your project must be a minimum of three full pages in length, not including the title and reference page. Make
certain to include an introductory paragraph.
Name: ____________________________________
Company Name: _____________________________
SWOT Analysis
Strengths
Internal
Your name
Opportunities
External
1
Weaknesses
Internal
Your name
Threats
External
2
How the above information will be used:
Your name
3
Buffalo Wild Wings, Inc., 2013
www.buffalowildwings.com , BWLD
Headquartered in Minneapolis, Minnesota, Buffalo Wild Wings (BWW) is the largest chicken wing–based
sports bar in the USA. BWW offers a welcoming atmosphere, open layout catering to families, sports
enthusiasts, and chicken wing lovers. The typical store offers 20 to 30 different beers on draft and tap,
up to 10 projection TV screens, and up to 50 smaller TVs for people to watch sporting events.
BWW specializes in traditional bone-in chicken wings and boneless chicken wings complimented by its
16 different wing sauces. BWW also sells burgers, other finger foods, and alcoholic beverages. The
typical restaurant offers a diverse selection of beers, wines, and liquor options. As of year end 2012,
BWW operated 891 stores of which 381 were company-owned and 510 were franchisee-owned. The
company expects to increase its total number of restaurants by 105 in 2013 and approximately by the
same amount in 2014. The typical restaurant is between 4,000 and 10,000 square feet and costs around
$2 million to build, including the land, building, appliances, etc. Each has 50 high-definition flat-screen
TV’s and 10 large projection screen TV’s. Takeout orders comprise 14 percent of BWW sales.
In their company-owned restaurants, BWW employs 25,500 people, 2,800 full-time and 22,300 parttime, which it calls team members. Five of the top nine executives are females including the CEO, Sally J.
Smith. BWW operates its 817 stores in 48 U.S. states and Canada. BWW opened five new restaurants in
2012 on the parking lots of big-box retail stores such as Home Depot. BWW expects to have 1,500
restaurants in the USA and Canada by 2016, and many of them will be in vacant space of Sears stores,
parking lots, and malls.
Copyright by Fred David Books LLC. (Written by Forest R. David)
History
In 1981, James Disbrow, from Buffalo, New York, along with friend, Scott Lowery, went looking for a
Buffalo-style chicken wing restaurant around the campus of Kent State University in Ohio while judging a
figure skating competition. Unable to find a satisfactory restaurant in the area similar to what they knew
was good from back home, the concept of opening Buffalo Wild Wings and expanding this tradition of
Buffalo, New York, to other areas of the country was born. The first restaurant named Buffalo Wild
Wings & Weck or BW3, was opened in Columbus, Ohio, in 1982 near the campus of Ohio State
University. In 1991, BWW began its franchising program and in 2003 the company completed its initial
public offering.
Vision and Mission
BWW refers to its mission statement in its code of ethics, but the firm does not provide an explicit
mission or vision statement on its website or its annual report. However, BWW does provide its
“concept and business strategy” as follows:
Continue to strengthen the Buffalo Wild Wings brand
Deliver a unique guest experience
Offer boldly-flavored menu items with broad appeal
Create an inviting, neighborhood atmosphere,
Focus on operational excellence,
Open restaurants in new and exciting domestic markets and new countries and
Increase same-store sales, average unit volumes and profitability.
EXHIBIT 1 BWW’s Organizational Design
Source: Company documents.
Organizational Chart
As indicated in Exhibit 1, BWW appears to operate from a divisional by geographic region structure.
Internal Issues
Statement of Ethics and Governance
BWW has two statements of ethics: one for regular employees and one for executives. For employees,
the Code of Ethics provides an overall standard for ethical conduct in conjunction with what is viewed
today as ethical business behavior. The statement also provides the following: (a) how to report
violations of conduct, (b) extensive personal conduct policies, (c) conflicts of interests, (d) protecting
trade secrets, (e) disclosure of financial data, (f) environmental impact, and much more. The executive
code of ethics is similar to the document for employees. Both codes of ethics stress doing the job to the
best of one’s ability and seeking help before making a decision on any matters of which the employee is
not sure of.
BWW provides a well-detailed corporate governance document for view on its website. This document
stresses all key issues related to the governance of BWW, including but not limited to: board size, board
leadership policies, selection of new directors, retirement, compensation, and stock ownership policies.
Business Segments
As indicated in Exhibit 2, 22 percent of BWW’s revenues come from alcoholic beverages. Not included in
the chart but important to note is that 13 percent of BWW’s sales come from takeout orders, an area in
which BWW states it does not try to compete on and do not consider takeout wing establishments its
primary competitors. But 13 percent is quite large and may be a growth area for the company in the
future.
Exhibit 3 reveals strong revenue growth for BWW’s company-owned and franchised stores over the last
three years. Revenue from company-owned stores increased 34 percent in 2012. Exhibit 4 reveals
average revenue per store. Note that franchised stores are outperforming company-owned stores on
average, but this is partly the result of BWW repurchasing underper-forming franchised stores.
EXHIBIT 2 A BWW Revenue-by-Product Percentage Analysis
Traditional Wings
Boneless Wings
20%
20%
19%
19%
Alcoholic
Beverages
24%
22%
Other
Food/Beverages
37%
39%
Years
2011
2012
Source: Company documents.
EXHIBIT 3 BWW Revenue Analysis: Company Owned versus Franchised Restaurants
2012
Company Owned
$964 M
Franchised
$1,510 M
Source: Company documents.
2011
$717M
$1,326 M
2010
555M
1,148 M
2009
489 M
992 M
EXHIBIT 4 BWW’s Average Revenue per Restaurant
2011
$2.25 M
$2.66 M
Company Owned
Franchised
2010
2.14 M
2.43 M
2009
2.11 M
2.36 M
Source: Company documents.
Strategies
BWW is currently employing both market penetration and market development strategies and plans to
have around 1,500 restaurants within the next several years, nearly double what they currently own.
BWW is considering adding locations outside its current two countries: USA and Canada. The company
also expects to maintain its 60–40 split of franchised-owned to company-owned stores. Opening new
stores especially in new countries would create additional risks, such as limited brand awareness, supply
chain issues, unknown competitors, and much more. BWW is considering expanding into international
markets via joint ventures with an established global brand.
Exhibit 5 reveals BWW growth over recent years. Note in 2012 the 19 percent growth in companyowned stores and 2.4 percent for franchised stores.
Marketing and Advertising
EXHIBIT 5 BWW’s Growth: Number of Restaurants
Company-Owned
Franchised
2012
381
510
2011
319
498
2010
259
473
2009
232
420
Source: Company documents.
Since its inception in 1982, BWW has specialized in offering a unique brand experience for guests with
the wide array of 6 award-winning sauces, beer variety, conveniently located TVs, a great social and
sporting atmosphere, and though not acknowledged by the company, sex appeal with young attractive
female waitresses. BWW instituted Tablegating at its restaurants in 2011 to promote sporting events,
good food, beverages, and fellowship among fans. BWW maintains a year-round advertising presence
but increases this advertising around its peak seasons, generally NCAA football in the fall and NCAA
basketball in the spring. Each BWW franchise pays a royalty fee of 5.0 percent and an advertising fee of
3.5 percent of restaurant sales.
Finance
In 2011 alone, BWW built 50 new company-owned stores and repurchased 18 franchised stores. Exhibits
6 and 7 are the financial statements for BWW. Note net income increased 13.6 percent from 2011 to
2012. Note on the balance sheet that BWW currently has $32 million in goodwill, up from $17 million in
2011.
EXHIBIT 6 BWW’s Income Statements
(Amounts in thousands except per share data)
Revenue:
Restaurant Sales
Franchise Royalties and
fees
Total revenue
Costs and expenses:
Restaurant Operating
Costs:
Cost of sales
Labor
Operating
Occupancy
Depreciation and
amortization
General and
administrative
Preopening
Loss on asset disposals
and store closures
Total costs and
expenses
Income from
operations
Investment income
Earnings before income
taxes
Income tax expense
Net earnings
Earnings per common
share-Basic
Earnings per common
share-diluted
Weighted average
shares outstandingbasic
Weighted average
shares outstandingdiluted
Fiscal Years Ended
December 30, 2012
December 25, 2011
December 26, 2010
$963,963
76, 567
717,395
67,083
555184
58,072
1,040,530
784,478
613,256
303,653
289,167
141,417
54,147
67,462
203,291
215,649
109,654
44,005
49,913
160,877
167,193
88,694
36501
39,205
84,149
72,689
53,996
14,630
3,291
14,564
1,929
8,398
2,051
957,916
711,694
556,915
82,614
72,784
56,341
754
83,368
118
72,902
684
57,025
26,093
$57,275
18,582
22,476
50,426
18,337
18,625
38,400
18,175
$3.06
2.73
2.10
18,582
18,337
18,175
18,705
18,483
18,270
Source: 2012 Form 10K, p. 38.
EXHIBIT 7 BWW’s Balance Sheets
(Dollar amounts in thousands)
ASSETS
Current assets:
Cash and cash equivalents
Marketable securities
Accounts receivable, net of
allowance of $25
Inventory
Prepaid expenses
Refundable income taxes
Deferred income taxes
Restricted assets
Total current assets
Property and equipment, net
Reacquired franchise rights, net
Goodwill
Other assets
Total assets
LIABILITIES AND
STOCKHOLDERS’ EQUITY
Current liabilities:
Unearned Franchise fees
Accounts payable
Accrued compensation and
benefits
Accrued expenses
System-wide payables
Total Current liabilities
Long-term liabilities
Other liabilities
Deferred income taxes
Deferred lease credits
Total liabilities
Commitments and
contingencies
Stockholders’ equity:
Undesignated stock 1,000,000
shares authorized, none issued
Common stock, no par value.
Authorized 44,000,000 shares;
issued and outstanding
18,623,370 and 18,377,920
respectively
December 30, 2012
December 25, 2011
$21,340
9,579
20,203
$20,530
39,956
12,165
7,820
3,869
4,122
5,774
52,829
125,536
386,570
37,370
32,365
9,246
$591,087
6,311
3,707
7,561
6,323
42,692
139,245
310,170
21,028
17,770
7,146
$495,359
$1,763
36,418
39,637
$1,852
30,089
30,499
11,461
51,564
140,843
140,843
1,752
37,128
27,992
207,715
7,580
44,250
114,270
114,270
1,544
38,512
23,047
177,373
121,450
113,509
Retained earnings
Accumulated other
comprehensive loss
Total stockholders’ equity
Total liabilities and
stockholders’ equity
Source: 2012 Form 10K, p. 37.
262,047
(125)
204,772
(295)
383,372
$591,087
317,986
$495,359
Locations
BWW’s home office in Minneapolis consists of 48,000 square feet and is under a lease that terminates in
2017 with an option to renew for another five-year term. BWW has 891 restaurants in 49 different U.S.
states and 7 additional restaurants in Ontario, Canada. Exhibit 8 provides the top 10 U.S. markets ranked
by total number of BWW restaurants. Note that Texas has the most BWWs, followed by Ohio. Exhibit 9
reveals that approximately 43 percent of all BWW restaurants are located in Midwestern states. The
Northeast, West, Canada, and other world locations are still relatively untapped by BWW.
Restaurant Franchise Operations
Approximately 59 percent of all BWWs are franchised and owned and operated by the franchisee.
Franchises fees range from $25,000 to $42,500 depending on the owner’s restaurant experience and the
number of stores he or she currently operates. The general lease is typically for a 20-year initial term
with the possibly to renew subject on certain conditions that the company does not specify.
In addition to the initial start-up costs, franchisees also pay royalty fees of 5 percent on all restaurant
sales, with an additional 3.5 percent of sales revenue being attributed to advertising. There is a provision
in all contracts whereby BWW can increase the fees by 0.5 percent once every three years. It is unclear
from company documents whether this would amount to a 5.5 percent fee or a 5.025 percent fee. BWW
does not expect to enact this provision in the next two years.
EXHIBIT 8 BWW’s Top 10 U.S. States (Number of Stores)
USA
Texas
Ohio
Illinois
Indiana
Michigan
California
Virginia
Florida
Minnesota
Misouri
2011
2012
Company Owned
37
43
32
32
13
18
7
7
0
0
11
18
15
16
4
5
23
23
7
6
2011
Franchised
51
53
46
42
43
24
20
26
5
20
2012
45
53
43
42
47
28
20
27
5
21
2011
Total
88
85
59
49
43
35
35
30
28
27
2012
88
85
61
49
47
46
36
32
28
27
Source: Company documents.
EXHIBIT 9 BWWs’ by U.S. Region (2011)
Region
Midwest
Southeast
West
Northeast
Canada
Total
Source: Company documents.
Total Stores
353
282
107
71
4
817
Percent
43
35
13
9
100%
Competitors
In the competitive restaurant industry, BWW is attracting customers based on taste, quality, service, and
ambience. Primary competitors include Hooters, T.G.I Friday’s, Chili’s, Applebees, and many regional
and mom-and-pop sports bars across the USA and Canada. In addition to sports bars and chicken wingthemed establishments, BWW does not consider quick-service restaurants (QSR), such as McDonald’s
and Kentucky Fried Chicken, as competitors, nor surprisingly quick takeout chicken wing establishments.
This corporate view is surprising because many quick-service chicken wing stores can offer much lower
prices than BWW because its overhead is significantly less. Recall that 13 percent of all BWW sales are
derived from takeout customers. This 13 percent can somewhat be considered a gift because BWW does
not promote its takeout business with volume discounts, “tailgate specials,” or any other marketing
strategy.
Exhibit 10 provides a financial comparison of BWW with DineEquity (owner of Applebees’s) and Brinker
International (owner of Chili’s). Note that BWW has the highest price-earnings ratio but has the lowest
revenues among the three.
T.G.I. Friday’s
With about 1,000 locations worldwide, T.G.I. Friday’s (often shortened to “Friday’s” in most countries,
and stylized “FRiDAY’S”, or “T.G.I.s” in the United Kingdom and the Republic of Ireland) is a U.S.
restaurant chain focusing on casual dining, similar to BWW. T.G.I is owned by the Carlson Companies, a
privately-held firm, so financial information is difficult to obtain about T.G.I Friday’s. The company
name, however, is taken from the expression TGIF, which stands for “Thank Goodness It’s Friday,”
although some recent television commercials for the chain have also made use of the alternative phrase,
“Thank God It’s Friday.” The company is known for its red-striped canopies, brass railings, Tiffany lamps,
and frequent use of antiques as dècor.
Hooters
HOA Restaurant Group (Hooters), based in Atlanta, Georgia, was founded in 1983 in Clearwater, Florida,
and currently operates more than 430 franchise restaurants in more than 27 different countries, and
additionally, the company operates 160 stores. The theme and concept of Hooters has changed little
over the last 30 years and chicken wings is a main product served. The typical Hooters restaurant
experience includes the sex appeal of female waitresses, jukebox-style music, sports on television, and a
menu that focuses around chicken wings, but also includes seafood, salads, and sandwiches. Around 68
percent of all Hooters sales are derived from food and nonalcoholic beverages, 28 percent from beer or
other alcoholic beverages, and 4 percent from merchandise, such as Hooters calendars and appeal.
EXHIBIT 10 A Financial Comparison of BWW with Brinker International and DineEquity
BMW
Market Capitalization
1.61 B
Number of Employees
2.8 K
Revenue
1.04 B
Gross Margin
0.26
Net Income
57.2 M
EPS Ratio
2.90
P/E Ratio
29.91
EPS, earnings per share; P/E, price-to-earnings.
DineEquity
804 M
640
1.02 B
0.40
72.6 M
4.00
10.99
Brinker Int.
2.4 …
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