Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis

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Goodyear Tire Rubber Company Follow On Equity Issue Case Help

The foundation of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help remained in the year 1935, the time when Yunosuke Aoki-- daddy of Rocky (the current vibrant president of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help) opened his first restaurant chain in the Japan. It was named so when a small sized flower red in color grew near the dining establishment'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. Though, after investing a duration of 3 years, he had much better analysis of the dining establishment market of the United States. In 1958, he was stressed over the expense rising and increasing competitors.

In 1963, Rocky opened his first unit to make an effort to use what he had discovered in the West Side with his initial cost savings of about $10,000 borrowed $20,000. This was paid back within a duration of six months. In 1964, opening a humble system with 40-seat in the midtown Manhattan, Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis grew to fifteen units chain through the country and a net worth of about $12 Million.

By 1972, it was really a steakhouse with variation through the way food was cooked in front of clients particularly by the Japnense chefs and the decor of the system was realistically detailed like the Japanese country. Among fifteen systems of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help, 9 of them were at company-owned places and five were franchised.

Problem Statement:

Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis had been rather various and is difficult to intimate, but the thing it did not have included the high expense of the items which was due to the use of materials from the House of Japan and the involvement of complete staff of native Japanese in the shop. The service were lengthy thus do not have quick service responses with a long time of queuing.

Operations in the organizational success:

Dining space:

Generally, the regular restaurant needs 30 percent of the total space of the dining establishment as your home back. While, Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution contained only 22 percent of the total unit area as your house back which includes office, dressing rooms of staff members, dry and cooled storage and areas of preparation. This was a considerable increase in the floor location proportion dedicated to dining area to be efficient.

Hibachi table arrangement:

The removal of traditional kitchen need with the plan of hibachi design offered Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help an unusual attentive service amount and kept the cost of labor at the gross sales of about 10 to 12 percent. This was dependent if the unit was at full volume.

Reduction in menu:

Through decrease in the menu to only 3 easy entrées of Middle America that included Shrimp, Chicken and Steak. There had been considerable storage of food and virtually no food waste. This had cut the expenses of food by 30 to 35 percent of the sales of food depending on the meat cost.

Historical Authenticity:

The ornamental lights, artifacts, beams, ceilings and walls of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution were all from Japan. The product of structure was collected from old homes which were dismantled in a mindful way and delivered in pieces to the U.S. where reassembling was done by among his dad's two crews of carpenters of Japan.

Site Selection:

Due to the lunch break service value, one standard concept of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help was its choice of site 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 flooring. A number of the systems of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help were found in the business districts with a simple access to the areas of residency.

Advertising Policy:

One of the essential factor in the success of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis was its substantial investment in public relations and creative marketing. The investment of organization of about 8 to 10 percent of its gross sales in order to be approachable to public. Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution utilized entirely different technique for advertisement. As they had visual products to offer. Therefore, it utilized outstanding visuals in its ad. The complimentary copy was modern however often off-the-wall. This was on the basis of marketing research to be knowledgeable about their prospective clients.

Training:

The chefs of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution were an excellent essential to its success as all the chefs were highly trained. All the chefs were licensed, native Japanese speakers, single and young meaning that they had completed their official apprenticeship of three-years. They were then supplied with a course of 3 to six months in period in the English language about the good manners of American style and the Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution cooking style 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 job due to the factor which included the possibility to rise in the Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis operation of America in contrast to the stiff hierarchy on the basis of education, age and class they may experience in Japan.Similarly, other aspect included the Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis's paternal attitude which took forward all the employees.

As an outcome, personnel turnover in the United States was quite low, nevertheless, lots of ultimately returned to Japan. For that reason, for full appreciation of success of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution, the uncommon combination of paternalism of Japan in the setting of America had appreciated.

Imitation:

The restaurants of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis adopted accurate and well-defined approaches throughout the selection of sites and chefs training which helped the company in lowering the typical time of supper turnover and the distinct combination of paternalism of Japan in the setting of United States of America which made it hard for other organizations to intimate.

Winning Strategy:

Effective Training:

Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis invested greatly on the programs of training for the chefs:

• Training of formal apprenticeship for a period of three years with certification in the cooking design of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Help.
• Three to 6 months course as for the American good manners mentor and training in English language.
• Usage of training program as a continuous process to be followed.

Employee Satisfaction:

Satisfaction of workers as the environment for assistance offered for every worker:
• Fulfillment of employees increases growth opportunities of efficiencies of both employees and company.
• Paternal attitude-- functioned as the secret to the bonding on basis of culture with efficient management.
• Providing employees with handsome wages and incentives such as strategies of perk.
• Providing staff members with intangible advantages like security of task and employees' well-being.
• Pride of employees works as the essential factor in the inspiration of staff members.

Effective and Aggressive Marketing:

Financial investment of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis at significant level in the upkeep of public relations and development of advertisement:

• Investment of about 8 to 10 percent in advertising from the gross sales.
• Company lead in terms of its unusual strategy of marketing.
• Advertisement was extraordinary, modern, off the wall visuals in the ad.
• Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution significantly kept its policy word of mouth in a consistent way.

Customer Satisfaction:

Research of market to examine the prospective consumers and their span:

• Quality of food drive the customers' complete satisfaction the most i.e. usage of food of prime grade.
• The crucial chauffeurs functioned as the factors of clients' complete satisfaction was primarily atmosphere and service.

Problem Analysis:

Franchise

• Financiers of business were not experienced in regard to grow the restaurant organisation.
• Absence of awareness about the culture of Japan and cooking design of Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution.
Financiers lack control in regards to management of operations.

Expansion

• Funds-- aversion to receive loans from institutions of financing such as banks.
• Organization faced insufficiency in the additional skilled personnel.
Productivity is thought about great however is restricted with availability of only two carpenters.

Operation

• Services of the company were time-consuming as there were no choices of fast service.
• The cost of ad was quite high and specific focus of organization towards food.
• The services variation was limited to the primary United States food market.
• The menu of the organization lacks range of food as the menu was restricted.

Improvements:

Expansion

• For the expansion of company, there is a requirement to check out prospective areas such as suburban area locations.
• Joint endeavors are thought about more responsible in contrast to franchise such as with the chain of international hotel.
• Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis can considerably take funds from the institutions of finance as cash flows was not a matter of concern.
• Expansion of business in the global market like market of South East Asia with anattention of middle to upper class department.

Development of brands with varying value proposal like Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution signature, Goodyear Tire Rubber Company Follow On Equity Issue Case Study Solution and Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis Asian Express.

Cost

• Through the growth of service in the suburb locations, there will be decrease in the site expense.
• Reducing of extra cost of advertisement.
• Use of local material in the advancement of developing to offer it a shape of architecture of Japan.
• Usage of in your area readily available workforce for the work of carpentry.
• Purchase of decoration material in bulk total up to get more discounted rates of the products.
Structure of workshops in third world countries such as Indonesia or Thailand for production of decor craft of Japan as new company line.

Operation

• Introduce operations with fast services in order to cater the department of youths.
• Goodyear Tire Rubber Company Follow On Equity Issue Case Study Analysis can use up add-on organisation in order to sell traditional stuff of Japan in a committed restaurant locations.
• Bring variation in the menu such as addition of sushi-on-the-go, udon, robatayaki.
• Introduction of attractive schemes for old individuals and females.
• Intro of complimentary card of subscription to use bundle of special offer to its devoted clients.
Building of local center for training particularly to train regional staff.

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