Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis
Home >> Chicago Booth >> Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur
Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Help
The foundation of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help was in the year 1935, the time when Yunosuke Aoki-- daddy of Rocky (the present youthful president of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis) opened his first restaurant chain in the Japan. It was named so when a little sized flower red in color grew near the restaurant's front door. In 1959, Rocky, during his tour to the United States explored more chances in the United States of America as compared to Japan. After investing a duration of 3 years, he had much better analysis of the restaurant market of the United States. In 1958, he was worried about the expense rising and increasing competitors.
Therefore, in 1963, Rocky opened his very first system to make an effort to use what he had actually found out in the West Side with his initial cost savings of about $10,000 obtained $20,000. This was paid back within a period of six months. In 1964, opening a humble unit with 40-seat in the midtown Manhattan, Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help grew to fifteen systems chain through the nation and a net worth of about $12 Million.
By 1972, it was really a steakhouse with variation through the method food was cooked in front of consumers especially by the Japnense chefs and the decoration of the unit was realistically detailed like the Japanese country. Among fifteen systems of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis, nine of them were at company-owned places and 5 were franchised.
Problem Statement:
However, Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution had been quite various and is challenging to intimate, but the thing it lacked involved the high cost of the items which was because of the use of materials from the House of Japan and the involvement of complete staff of native Japanese in the shop. Likewise, the service were lengthy therefore lack fast service reactions with a long time of queuing.
Operations in the organizational success:
Dining space:
Normally, the typical restaurant needs 30 percent of the overall area of the restaurant as your home back. While, Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help contained only 22 percent of the total system space as the house back which includes workplace, dressing rooms of employees, dry and refrigerated storage and areas of preparation. This was a significant increase in the flooring area percentage dedicated to dining space to be efficient.
Hibachi table arrangement:
The removal of conventional kitchen need with the arrangement of hibachi design provided Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help an unusual mindful service amount and kept the cost of labor at the gross sales of about 10 to 12 percent. This relied if the system was at complete volume.
Reduction in menu:
Through reduction in the menu to only 3 easy entrées of Middle America which included Shrimp, Chicken and Steak. There had actually been substantial storage of food and essentially no food waste. This had actually cut the expenses of food by 30 to 35 percent of the sales of food depending upon the meat cost.
Historical Authenticity:
The ornamental lights, artifacts, beams, ceilings and walls of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis were all from Japan. The material of building was gathered from old homes which were disassembled in a cautious manner and shipped in pieces to the U.S. where reassembling was done by one of his dad's 2 teams of carpenters of Japan.
Site Selection:
Due to the lunchtime organisation value, one standard concept of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution was its selection of website i.e. high traffic. Rent was generally at 5 to 7 percent of sales for the location of about 5000-- 6000 square foot for the area of floor. Much of the units of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution were found in business districts with a simple access to the locations of residency.
Advertising Policy:
One of the important aspect in the success of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help was its considerable financial investment in public relations and creative advertising. The financial investment of company of about 8 to 10 percent of its gross sales in order to be friendly to public. Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help used completely various approach for ad.
Training:
The chefs of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help were a fantastic crucial to its success as all the chefs were extremely trained. All the chefs were accredited, native Japanese speakers, single and young significance that they had actually completed their official apprenticeship of three-years. They were then offered with a course of three to six months in period in the English language about the good manners of American style and the Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution cooking design which was primarily showmanship in Japan.
Training chefs was a continued process in the United States. The chefs were not usually concerned with resignation of their task due to the factor which included the possibility to increase in the Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis operation of America in contrast to the rigid hierarchy on the basis of education, age and class they might experience in Japan.Similarly, other factor included the Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution's paternal mindset which took forward all the workers.
As an outcome, workers turnover in the United States was quite low, however, numerous ultimately gone back to Japan. For complete gratitude of success of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help, the uncommon combination of paternalism of Japan in the setting of America had appreciated.
Imitation:
The dining establishments of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help adopted precise and distinct techniques throughout the choice of websites and chefs training which assisted the company in lowering the typical time of supper turnover and the distinct mix of paternalism of Japan in the setting of United States of America which made it difficult for other organizations to intimate.
Winning Strategy:
Effective Training:
Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis invested heavily on the programs of training for the chefs:
• Training of formal apprenticeship for a duration of 3 years with accreditation in the cooking design of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution.
• Three to 6 months course when it comes to the American manners teaching and training in English language.
• Use of training program as a continuous process to be followed.
Employee Satisfaction:
Satisfaction of staff members as the ecosystem for assistance readily available for each employee:
• Satisfaction of workers increases growth possibilities of performances of both staff members and organization.
• Paternal attitude-- acted as the key to the bonding on basis of culture with effective management.
• Offering workers with handsome earnings and incentives such as strategies of perk.
• Supplying employees with intangible benefits like security of job and staff members' wellness.
• Pride of workers serves as the essential factor in the inspiration of employees.
Effective and Aggressive Marketing:
Investment of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis at considerable level in the upkeep of public relations and development of advertisement:
• Financial investment of about 8 to 10 percent in advertising from the gross sales.
• Company lead in regards to its unusual strategy of marketing.
• Ad was extraordinary, modern, off the wall visuals in the ad.
• Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis considerably preserved its policy word of mouth in a consistent manner.
Customer Satisfaction:
Research study of market to examine the prospective clients and their span:
• Quality of food drive the clients' fulfillment the most i.e. usage of food of prime grade.
• The essential chauffeurs acted as the factors of consumers' satisfaction was primarily environment and service.
Problem Analysis:
Franchise
• Investors of business were not experienced in regard to grow the dining establishment business.
• Lack of awareness about the culture of Japan and cooking style of Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help.
Financiers lack control in terms of management of operations.
Expansion
• Funds-- objection to receive loans from institutions of financing such as banks.
• Company faced insufficiency in the additional skilled personnel.
Efficiency is considered good however is restricted with schedule of only two carpenters.
Operation
• Services of the organization were time-consuming as there were no alternatives of fast service.
• The cost of ad was quite high and particular focus of company towards food.
• The services variation was limited to the primary United States grocery store.
• The menu of the company does not have range of food as the menu was limited.
Improvements:
Expansion
• For the growth of organisation, there is a requirement to check out prospective regions such as residential area locations.
• Joint endeavors are considered more responsible in contrast to franchise such as with the chain of global hotel.
• Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution can significantly take funds from the institutions of financing as cash flows was not a matter of issue.
• Expansion of company in the international market like market of South East Asia with anattention of middle to upper class division.
Development of brands with varying value proposal like Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Analysis signature, Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Solution and Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help Asian Express.
Cost
• Through the expansion of organisation in the suburb areas, there will be decrease in the website expense.
• Cutting down of extra expense of ad.
• Usage of regional product in the advancement of building to provide it a shape of architecture of Japan.
• Usage of locally offered manpower for the work of carpentry.
• Purchase of design product in bulk amount to get more discounted rates of the items.
Structure of workshops in third world countries such as Indonesia or Thailand for production of decoration craft of Japan as new organisation line.
Operation
• Present operations with fast services in order to cater the division of young people.
• Hong Kong Property Deal An International Negotiation Case Simulation Confidential Information For Lee Wing Importer And Entrepreneur Case Study Help can take up add-on company in order to sell traditional stuff of Japan in a devoted restaurant areas.
• Bring variation in the menu such as addition of sushi-on-the-go, udon, robatayaki.
• Introduction of appealing plans for old individuals and females.
• Introduction of complimentary card of membership to use bundle of special offer to its loyal consumers.
Building of local center for training especially to train regional staff.
| Executive Summary | Swot Analysis | Vrio Analysis | Pestel Analysis |
| Porters Analysis | Recommendations |