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Chuy's Holding Strategy

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Submitted By nicegirllove
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Introduction
Chuy's Holdings, Inc (Chuy's) a chain of Tex-Mex restaurants located across fourteen (14) US states has shown potential and growth over the past thirty-two (32) years, both an external and internal environmental scan was conducted to determine why this company has not seen growth patterns similar to its closest competitors; the results shows that Chuy's must adopt new strategies which will enable them to become a product leader in the restaurant industry. This implementation plan will include all objectives, functional tactics, action items, milestones, tasks and resource allocations which Chuy's must implement to succeed. Other key success factors such as Chuy's budgets and forecasted financials would be perused to determine what would be the best new strategies to ensure that Chuy's attain sustainable growth. Chuy's will rely on a strategy of differentiation; which is a grand strategy that constitute "a master long-term plan that provides basic direction for major actions for achieving long-term business objectives" (Pearce & Robinson, 2011).
Implementation Plan This implementation plan consists of all activities related to the achievement of Chuy's goals for sustainable growth via innovative product development. Activities listed and explained further below.
I. Objectives
Chuy's has potential for growth and based on that potential, the following objectives have been set for the business.
• 10% increase in market share
• 20% increase in revenue over the next three (3) years
• Mass production of 'Green Sauce'
II. Functional Tactics According to Pearce & Robinson, 2013 "Functional tactics translate business strategy into daily activities people need to execute". They are functions that will determine how well the plan is implemented; and are instrumental to the outcome of the plan. "Tactics are the specific actions that lead to

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