Having recently acquired the rights to the Broadway Café, we, Gem Global Consulting Group, have developed a new, successful business plan designed to revitalize the Broadway Café. Our strategy will take into account the several factors that make up the current business situation. These factors include the opportunity to implement Information Technology systems and supply chain improvements, the broad range of products offered by the Broadway Café, the competitive environment, and the fact that the café has been a hotspot for several years before the decline in sales over the past 5 years. Our plan will also focus on positioning the Broadway Café to regain market share from competitors, and improving Electronic business procedures, employee ethics, and customer security. In conducting our thorough analysis, we at Gem Global have concluded that the Broadway Café is poised to spring ahead and has the opportunity to become a once more valuable enterprise. We envision the Broadway Café as becoming the market leader via technology implementation, business collaboration, and strategic planning. With regards to the competitive environment, the city of East Lansing has many competitors in the coffee market, including traditional coffee shops, such as Starbucks, Bigbys, Espresso Royal, as well as the residence hall cafeterias and Spartys. Other competitors include sandwich shops, such as Cosi and Panera, which, although not coffee shops, are in competion with the Broadway Café’s deli offerings.
In addressing switching costs, such as customer exit costs and retention efforts, the Broadway Café will need to implement technologies and improvements to ensure that customers actually recognize and are aware of the cost of switching to another business, such as the lack of deli offerings by other coffee shops, and will thus be more likely to stay with the Broadway Café.