...| Ruth's Chris Steak House | Case Analysis | | Ruth's Chris Steak House is the largest upscale steak house company in the world, with over 130 restaurant locations around the globe. Founded in New Orleans, Louisiana USA by Ruth Fertel in 1965, Ruth's Chris specializes in USDA Prime grade steaks served in Ruth's Chris signature fashion ... "sizzling." In regards to the market variables and their order of importance, I would rank them accordingly: 1. Legal/Ease of import of U.S. beef 2. Population/high urbanization rates 3. Beef eaters 4. High disposable income 5. Eating out habits 6. Affinity for U.S. brands However, some variables are given higher priorities over others when that may be unnecessary. I would re-order the market selection criteria with the most important variable being ease of import, then beef eaters, affinity for U.S. brands (if there is data), high disposable income, population/urbanization and lastly, customer dining habits. If Ruth’s Chris is unwilling to order beef from any other location, then the ease of imports should be the most important variable to consider when analyzing expansion. This variable is easy to measure and quickly eliminates countries that have trade restrictions on U.S. beef. While Hannah mentions that Australian beef could act as a sufficient substitute, the company would be compromising its value proposition and brand by importing Australian beef. Once those prospects have been eliminated, the company...
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...Dan Hannah, Vice-President of business development for Ruth’s Chris, developed a criteria of metrics that were critical for Ruth’s Chris success in order to narrow down potential markets for the future global expansion of the company. The four variables he identified were: 1) Beef Consumption Per Capita (kg), since the majority of their customers were beef eaters 2) Population 3) Urbanization Rate, as restaurants needed to be in a densely populated area 4) Per Capita GDP (PPP in US$), an average meal would cost an average of $70 USD. These variables were weighed to determine which country would be most favorable as a new market. The methodology behind this Perhaps a great indicator of success in another country would be their economic state and ease of doing business. The World Bank issues an ease of doing business index which ranks economies from 1 to 183, with first place being the best. A high ranking (a low numerical rank) indicates that the regulatory environment is conducive to business operation. The index strongly favors Singapore as the strongest The second variable included in this analysis is the Population below Poverty Line Percentage. This variable could be useful to determine whether the residents of each country have the means to go out to dinner at an upscale steakhouse. The data is taken from the CIA World Factbook and are national estimates of the percentage of the population falling below the poverty line are based on surveys of sub-groups, with the...
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...Ruths’ Chris Steak House is one of the most luxurious restaurant in the USA that specializes in the production of very good steaks. It is a renowned brand in the usa known for quality steaks with exceptional quality customers service. Ruth Fertel started the restaurant in New Or leans , LA back in 1965.Due to its successful operations , the company decided to go public by inviting the public to invest into the business with an IPO offering in 2005 that generated over $154million in new equity capital. The inflows of such magnitude placed the burden of performance on the management to generate enough returns for the stakeholders to justify their stakes in the business. The executive president (Business Development), in person of Dan Hannah recommend the idea of establishing presence across the frontiers by selecting some prime target countries via new franchises, the countries that attracted the management interest are Canada, Japan, Belgium, and the United kingdom as their capita beef consumption, populations, urbanization rates and affinity with USA are in agreement with management corporate strategy. The company has economies of scale like technical know –how, support mechanism , expertise in the business of steaks being deployed towards the franchise management , the probability of the franchise and the expansion decisions going down the drain is almost nil. Key Assumptions: The management is looking forward to revenue and company through establishing presence in the...
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...his decision-making? Which unused variables might have been useful? Hannah created a criterion that included the factors that played an important role in Ruth’s Chris success and used that to narrow down the potential new markets. These factors were beef-eaters (i.e. the market has their primary customers as beef eaters), legal to import U.S. beef (Ruth’s Chris only used USDA Prime beef therefore it had to be exportable to the new country), Population/high urbanization rates (restaurants needed to be in densely populated areas), high disposable income (fine dining restaurant with an average cost over $70), trend among people to eat out (more the people go out to eat, more are the odds they will come to this restaurant), and affinity for U.S. brands (overtly anti-US countries would not accept Ruth’s Chris and eat there). Ruth’s Chris target market should definitely consist of densely populated markets where a large percentage of the population eats steak. When identifying a new potential market, the company makes sure there is a large enough population to expand the business by opening multiple stores. After identifying whether the per capita consumption is high enough to support a steakhouse, they need to ensure the population can afford to dine in the high end establishment. If the market passes these tests, Ruth’s Chris will have a potentially good location and can build a restaurant. The factors discussed above are worth considering every time before entering a market. There...
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...Business Statistics Group Project Restaurants Serving Times Red Lobster | 7 minutes | 16 minutes | 18 minutes | 21 minutes | 15 minutes | 14 minutes | Olive Garden | 12 minutes | 16 minutes | 14 minutes | 18 minutes | 15 minutes | 12 minutes | Logan’s Steakhouse | 9 minutes | 11 minutes | 10 minutes | 8 minutes | 13 minutes | 13 minutes | Ruth Chris Steakhouse | 16 minutes | 14 minutes | 20 minutes | 19 minutes | 10 minutes | 15 minutes | Foosackly’s | 2 minutes | 3 minutes | 1 min 45 sec | 2 minutes | 2 mins 30 secs | 2 minutes | Five Guys | 6 minutes | 4 minutes | 11 minutes | 9 minutes | 6 minutes | 4 minutes | Our group decided to research food service response times for our group project. We timed customers at 6 different restaurants: From the time they ordered their food till it was delivered. We also took note of the appearance of the restaurant, employee attitude and over-all cleanliness. Red Lobster and Olive Garden were chosen because of their similar styles of service, casual dining restaurants. Logan’s and Ruth Chris were chosen because they’re both steak-houses. Foosackly’s and Five Guys were chosen because of similar service styles, grab and go. Devon recorded the food service response times on Saturday March 24, 2012. His data was collected from 4:00 pm to 6:00 pm, at the Red Lobster on Airport Blvd in Mobile, Alabama. Devon noted that upon entering Red Lobster that a pleasant smell of butter biscuits was wafting in the lobby and he was greeted...
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...Case Study Synopsis: Ruth’s Chris – The High Stakes of International Expansion Defining the Issues company completed a milestone completing a successful IPO that raised more than $154M USD in new equity capital in its 2005 annual report, the company committed to an accelerated development plan through company owned and franchised locations. current stores were seeing consistent incremental revenue growth, but accelerated development will require entry into the international market shareholders will expect to see share prices increase (i.e., to maximise profit) The Basic Issue company wants to increase revenue through expansion (“growth”) Analysing Case Data (Cause & Effect) barrier to international expansion may be RCR’s strict franchise criteria: liquid net worth of $1M USD, verifiable experience within the hospitality industry, desire and ability to develop multiple locations; $100K USD per restaurant franchise fee + 5% gross sales royalty fee + 2% gross sales fee. senior management committed to the market development model, but not all senior management committed to international expansion market selection criteria presents some potential barriers to international growth (insistence on US Beef) insufficient international market data (no data on how often people ate in restaurants, or their affinity toward US brands). some countries will not have an affinity for US brands. Generating Alternatives since franchising was successful in Canada...
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...JIM LEE When looking at this image I notice that both characters represent some form of power. Jim Lee does this by giving them very upright postures to symbolize dominance and very overdeveloped muscles to really show how much power and force these two characters wield. Jim Lee uses very intense shading to define the muscles and indentations on the bodies. This is effective because it seems as though Jim Lee was trying to create the ideal human in this alternate universe. Jim Lee uses two very different characters to create a very distinct contrast within the image, such as; the dark skies, the gargoyle that they’re standing on , the costumes they’re wearing and the way they’ve positioned their hands. This image is interesting because it shows two sides of the same coin or yin and yang. This is great because both of these characters are very heroic and are always fighting in the name of justice. When looking at this image I feel quite jealous because of how perfect the characters are. Jim Lee has done this by giving them great postures and well defined muscles but most of all I think that being on a rooftop has given them more authority. I like this work because it looks good and it portrays strength and power. Background INFO Lee's artwork quickly gained popularity in the eyes of enthusiastic fans, which allowed him to gain greater creative control of the franchise. In 1991, Lee helped launch a second X-Men series simply called X-Men (volume 2), not only as the...
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...which includes sheeting smeared with what she says is her blood, unless she admits it was a hoax. Shvarts has refused to talk to the media, with the exception of a statement in the Yale Daily News, in which she wrote, "for me, the most poignant aspect of this representation … is the impossibility of accurately identifying the resulting blood." According to Shvarts, because it would be unclear if the blood in the work was the result of a miscarriage or her menstrual cycle, the piece is ultimately about the narrative she has constructed. (Doctors have pointed out, however, that blood samples could be tested for pregnancy hormones.) Feminist artists such as Judy Chicago and Ana Mendieta have long used blood as a medium; performance artists (Chris Burden, Marina Abramovic) have manipulated their bodies in the name of...
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...Explain how the ideas of the Liberal Democrats influenced Coalition Government Policy During their time in the Coalition Government, the Liberal Democrats have influenced the Coalition Government Policy in many ways. For example, Nick Clegg’s party has influenced the presence of gay marriage to be legal, prevented Michael Gove from introducing a two-tier exam to replace GCSEs, resisted Conservatives’ proposals to completely reform the NHS, cutting out the lowest paid earners of tax, and scrapping the Conservatives’ idea of a ‘Snooper Charter’. Firstly, the Liberal Democrats supported the Conservatives’ idea that those with the lowest personal incomes are to be cut out of income tax, which totals to over 880,000 individuals. This would allow low-earners to be able to live off more, increasing their personal allowance to £10,600, which was a joint effort from both parties, not just the Liberal Democrats. However, the Liberal Democrats have delivered a new 7% stamp duty on homes sold exceeding £2 million, also known as “Mansion tax”. In terms of the healthcare, Nick Clegg’s party has been resistant and successful in delaying the Conservatives proposals to completely restructure the NHS, which would have ended up being privatized, leading to people having to pay to be treated. Home Secretary Theresa May proposed that security services should be given the power to have access to everyone’s phone and email records, social media and internet activity, which would damage civil...
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...[pic] NOVEMBER 10, 2004 THE GREAT INNOVATORS By Mike Brewster | | | | |Mark McCormack, Superagent | |The founder of IMG managed and marketed athletes from Arnold Palmer to Monica Seles in a way that changed the game profoundly | In a famous scene in the 1996 film Jerry Maguire, the sports agent played by Tom Cruise is goaded by his client, played by Cuba Gooding Jr., to repeatedly scream into the phone "Show me the money." By the time that film came out, however, the role of the sports agent had long since been transformed into one far more sophisticated than simply negotiating contracts. And while screenwriter Cameron Crowe based the Jerry Maguire character on agent Leigh Steinberg, it was Mark McCormack who ushered in the modern era of sports management and marketing. McCormack, founder of International Management Group (IMG), believed the popularity and marketability of athletes could transcend borders, cultures, language, even sports itself. McCormack-managed athletes were the first to endorse clothing, watches, and motor oil. They played exhibition matches around the world (you can thank McCormack for golf's...
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...Case Study Kent State University v. Ford Background In April 2010, Gene Ford signed a 5 years contract which includes a liquidated damages clause with Kent State University to work as a head coach of a basketball team with a total salary of $300,000. The liquidated damages clause state that if Ford quit before the end of the contract, he need to pay a liquidated damages to the school in an amount equal to his salary ($ 300,000) multiplied by the number of years remaining on the contract. However, in March 2011, Ford quit his job at Kent State University and accepted the same position at Bradley University, with a total annual salary of $700,000. After Kent State University recognizes his action, Kent State University sues Ford for the liquidated damages according to the liquidated damages clause in the contract, which had been agreed by both partied. But Ford argued that it is a penalty in order to prevent him from accepting other employment, and it should be unenforceable. Factor to be analyzed In this case, there are several factor need to be analyzed. The first one is whether the damages are uncertain as to the amount and difficult to prove. The court agreed that calculation of the damages resulting from the breach of contract by Ford was very difficult because the departure of the head coach of a basketball team will cause several negative effects. The court also noted that the liquidated damages clause was based on the continued employment of Ford, and the court agreed that...
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...made for comedy purposes only I believe that sometimes they tend to overstep the boundaries. I do believe that they try to make the family seem like they would do anything for each other. In one of the episodes the mother tries to cover up for her son because they believed he murdered a man but it turns out he did not. To me that shows although he broke the law she was willing to do anything for him to protect him. I do believe that television shows impact our views on life and our views on family values. After watching this show I realized that it impacted my view on family values negatively. I would not want my family to be dysfunctional like the Griffin family. They make fun of the eldest daughter in many episodes, the second son Chris does horribly in school and both children to not respect their parents. The parents Peter and Louis love each other and I can see that in episodes and in all of the episodes I have seen they are monogamous to each other so that does show that they are still trying to put some values in the show. The baby Stewie is always trying to kill his mother and they make it seem like it is an ok thing to do. But I would not raise my own children the way that they did in this show. It is not right in anyway in my mind. Being a mother of two young children it is important to teach them at a young age of what...
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...courage and brave. But who could considered example of heroes? Everyone has their opinion to define a hero so I also have my opinion to define a hero. “The Pursuit of Happyness” is a movie which was released in 2006. This movie is an adaptation of a real story. Chris Gardner, who is a singer father. He is homelessness and poor because he failed on his business. He also has to raise his son. For his son’s future ,he never give up and always look for changes to change his life. He believed that as long as it is hard enough, happiness will come tomorrow. In the end, he be a successful stockbroker and changes his life. For many hero’s stories, Chris Gardner is not a typical super hero. He doesn’t have any superpowers and strength. He is homelessness with his son and poor, no one can care about them. However, he is kind of a special hero. He has strong mind and the spirit of never give up when he faced to many challenges. Maybe he could not change the world and help everyone but he changed himself and he gave his son more happiness in his son life. And there are three conspicuous aspects about Chris Gardner in the hero’s journey step are listed. For hero’s departure journey, first step is “The Call to Adventure”. When Chris Gardner saw the stockbroker on the road, he found the stockbroker has fascinating smile and he felt the stockbroker has more happiness than him. He wanted to change and decided to be a stockbroker. The second step, we called ”The Belly of the Whale”. Many challenges...
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...MN10466 – Accounting & Organisations Coursework The coursework requirement is to produce an essay of 2,000 words (excluding references). The title of the essay is: “Should financial statements be based on historical costs or fair values?” The starting point of the assignment will be the lectures given in Weeks 1-4. Some material will be provided on Moodle but you will be required to research the topic using books and journals that are available on-line via the library. e will put you into groups. A list will be on . It is your responsibility to get together, organise the work and produce the essay. If your group collapses follow the document ‘Appeal for Variation of Marks’ on Moodle. The completed assignment must be submitted by one group member via the Assignment Tool on Moodle in PDF format by 3pm on Wednesday 20th March 2013 Please submit one PDF including the cover sheet, two pages of feedback (to be completed by David Bence), the essay and the learning log. Use the Harvard (Bath) referencing style. See: http://www.bath.ac.uk/library/infoskills/referencing-plagiarism/ The Learning Log should be submitted at the end of your assignment. The leaning log should show the record of the group meetings, the attendance of group members, agreed allocation of work, a record of the tasks completed and a statement of the benefit obtained by the group from completing the essay. The learning log will not be marked but must be completed as part of the requirement...
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...sell these instruments which caused a downward spiral of events to happen such as: losing his car, losing his home, losing his family, and sometimes even losing “his mind.” However during his fight towards financial stability he ran into a guy who decided to give him a chance based on his ability to quickly solve the rubric cube puzzle in such a short amount of time. Throughout the movie money plays a pivotal role in the direction of the story. Money is revealed throughout the story as a matter, means, and measure. Matter. When considering the matter of money there are two different things that you have to consider; (1) physically having it or not having it and (2) being or having the ability to successfully manage it. During the movie Chris Gardner goes through a roller coaster experience with physically having money. He lets us know that when he first decided to embark on his journey of entrepreneurship the profit came very easily, However when he got down to his last few bone density machines, things got very rough and tight. Because his physical means for having it was non-existent in so many cases, the Gardner family underwent numerous threats from landlords for eviction. Not only did his low means of money affect how strangers treated him, it slowly began to affect his household composition. Due to her inability to deal...
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