Outback Steakhouse - 1450 Words

Outback Steakhouse in Korea: a success story. by Lee, Kyuho^Khan, Mahmood A.^Ko, Jae-Youn Cornell Hospitality Quarterly †¢ Feb, 2008 †¢ CQ CASES Interviews with executives and managers of the Outback Steakhouse Korea chain point to the critical success factors that have allowed the chain to expand even in the face of economic turbulence. Opened in 1997, the Korean operation first had to survive the Asian currency crisis, which it did with assistance from its franchisor. With close cooperation between Korean and American Outback chain executives, the Korean operation has seen considerable success in the past decade. Critical success factors fell into the following categories: decentralized organization, strong training programs,†¦show more content†¦As of this writing early in 2007, the company operates ninety restaurants across Korea, recording $16 million in net income in 2005, an amount that accounted for more than half of the firm s entire net income from its international division (Miller 2006). The high growth rate of Outback Steakhouse Korea has drawn attention from both restaurant operators and researchers, gi ven the many differences between Korea and the United States (Barancik 2005). Exhibit 3 illustrates how Outback Steakhouse Korea has been achieving a high rate of growth compared to its major competitors. Considering this rapid growth, we wanted to study the critical success factors and company strategies that have led Outback Steakhouse Korea to be competitive and successful. This article explains what we learned about those success factors and competitive strategies. International Franchising Hotel and restaurant firms based in the United States have long used franchising for international expansion, often with master franchise arrangements. Falbe and Dandridge (1992) contended that the rigorous establishment and implementation of franchisee support systems is crucial to maintaining the high quality and service that franchisors offer their customers in their domestic markets. Researchers also claimed that developing a standardized system for products and services is important for international franchisees to replicate their products and services easilyShow MoreRelatedOutback Steakhouse - Competitive Strategy3975 Words   |  16 PagesExecutive Summary Outback Steakhouse has enjoyed a dominant position in the casual dining market since inception. They have exponentially increased the number of locations each year; however their growth has apparently reached a plateau and they could potentially loose market share. There is significant competitive pressure from rivals using marketing and advertising in attempts to lure away customers. Consumer loyalty is highly valuable and rivals will use whatever tactics necessary to gainRead More Business Analysis of Outback Steakhouse Essay1778 Words   |  8 Pages Business Analysis of Outback Steakhouse This essay answers the following questions. 1) What are the standout business and economic characteristics of the restaurant industry? 2) What are the key success factors in the casual dining portion of the restaurant industry? 3) Do a SWOT analysis of Outback Steakhouse. What does it suggest? 4) Is the ?Principals and Believes? Policy Successful? 5) Evaluate Outback?s Financial Performance and present conditions. 6) What major issuesRead More Outback Steakhouse Case Essay1835 Words   |  8 PagesOutback Steakhouse Case Synopsis of Case In 1995, Outback Steakhouse was proclaimed as one of the most successful restaurant chains in the United States. 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These franchises achievedRead MoreOutback Steakhouse1401 Words   |  6 PagesOUTBACK STEAKHOUSE: GOING INTERNATIONAL Overview: The advent of globalized business has brought new and interesting opportunities to companies all over the world. Chris Sullivan, chairman and co-founder of Outback Steakhouse, noted that many internationally based American restaurants have â€Å"average unit sales [that are] way, way above the sales level they enjoyed in the United States.† (Grant, 2010: 753) For fast-food franchise giants like McDonald’s, Burger King, and KFC, up to one half of totalRead MoreOutback Steakhouse1980 Words   |  8 Pagesâ€Å"Outback Steakhouse† Strategic Human Resource Management – HRM 530 Question 1: Discuss how the employee selection methods at Outback Steakhouse help the organization achieve a competitive advantage. The Selection process within most organizations is the foundation of competitive advantage through people. Upon reading this case, there is one particular aspect that stands out: the people are the main ingredients that make the company successful. Therefore, since the competitive advantage toRead MoreOutback Steakhouse Case1863 Words   |  8 PagesSynopsis of Case In 1995, Outback Steakhouse was proclaimed as one of the most successful restaurant chains in the United States. The chain was started by Chris Sullivan, Bob Basham, and Tim Gannon during the 1980s. Prior to starting the Outback Steakhouse chain, Sullivan and Basham were successful franchisees of the Chilis Restaurant chain. About the same time Gannon played a significant role in several New Orleans restaurant chains. Outback Steakhouse, formerly known as Multi-Venture Partners