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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.
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 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 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 process for example, better identification and understanding of customers.
The term competitive advantage is the ability gained through attributes and resources to perform at a higher level than others in the same industry or market Christensen and FaheyKayPorter cited by Chacarbaghi and Lynchp. Also it provides the understanding that resources held by a firm and the business strategy will have a profound impact on generating competitive advantage.
Summarizing the view points, competitive advantage is a key determinant of superior performance and it will ensure survival and prominent placing in the market. Superior performance being the ultimate desired goal of a firm, competitive advantage becomes the foundation highlighting the significant importance to develop same.We would like to show you a description here but the site won’t allow us.
Ruby Tuesday, Inc. PESTEL analysis is a strategic tool to analyze the macro environment of the organization. PESTEL stands for - Political, Economic, Social, Technological, Environmental & Legal factors that impact the macro environment of Ruby Tuesday, Inc.
Below is a free excerpt of "Ruby Tuesday Swot Analysis" from Anti Essays, your source for free research papers, essays, and term paper examples.
Ruby Tuesday Incorporated is a chain of casual dining restaurants operating both domestically and internationally/5(1). Organizational Case Analysis on Ruby Tuesday Tanisha Adams Florida International University ADE – Dr.
Alfred Case Analysis #1 - Ruby Tuesday Introduction At some point it becomes necessary for an organization to undergo changes.
In the Ruby Tuesday Group a market research firm was hired to conduct an in depth analysis. Its planning process was based on utilizing the strengths, weaknesses, opportunities and threats (SWOT) being faced by the food chain/5(1).
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.