Strategy to Stay Profitable in COVID-affected Restaurant Business
Jessica Boff, Michael Blatt, Nico Nava, Tamara Al-Homsi, Yogya Tekwani MBA
Subject area: Corporate Strategy of Profitability
Region: South East Asia, Thailand
Industry: Technology for Restaurant Business
Company: NomNomNom (the name of the company is disguised)
Challenge: Our chosen company, NomNomNom, a tech company based in South East Asia is struggling to stay profitable and largely affected by the COVID-19 Pandemic. Our challenge is to create a strategy that will help sustain the current business operations and mitigate current losses caused by the pandemic, and create a starting point for future roadmaps that will help sustain the company.
Project’s Relevance: Team Composition
We are a team with diverse backgrounds in business, particularly in marketing and international business relations, at the same time, we are food lovers. We feel strongly in helping create a strategy for our chosen company as this will help us further our current knowledge and make it apply to real-life situations.
Connecting with the Company’s Reality and Investing in Social Capital:
Methodology & Data Generation
Our main connection with the company was our teammate Yogya. His friend is a current employee at the company and gave us permission to have access solely for analysis and discussion for the capstone strategy class. He was equally interested in learning how they could have developed a strategy when the pandemic hit. We have collected financial data internally, as well as available data on the internet that provided a rounded insight of the company. We also collected information about our target market and scope of study which is Thailand, and the information was pulled from various sources.
Generating Value and Investing in Professional Capital: Findings and Recommendations
We have utilized several methodologies and concepts in analyzing and constructing our strategic vision. This included and not limited to: SWOT, VRIO, market analysis, financial data analysis and modeling, and feasibility study.
Strategic Vision: Capitalizing on the Project
We are recommending our company to retain current business operations, and focus mainly on the notion of “contactless” which are delivery service, and take-out modeling. This helps the business adapt to the current state of Thailand. At the same time prepare and maintain the core business operation of helping customers find deals by connecting them to restaurants with empty tables