Case Study Panda Wok

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PANDA WOK

Case Study

1). After the creation of Panda Wok and the opening of the first restaurant, the main objective that has been set by Chris, was common to all newly created firms to break even. According to Chris planning, this ought to happen in the following two or three years. This was not the case as Panda Wok started making money practically from the first night on.

Such a success inspired Laura Piper to start thinking about expanding. That was second main objective, after breaking even didn't virtually take any time. Laura even thought of making Panda Wok a first national chain of Chinese food restaurants in the country. The sudden increase of outlets meant that both Chris and Laura weren't able to maintain and control the same quality of services in all restaurants, also partly because the firm didn't have middle management, which is obligatory within a widely expanded business. After surviving difficult periods of time, Chris and Laura have finally accepted a decision to concentrate upon company's quality image, than a constant expansion.

). a). Especially in large organisations, it is important to negotiate and agree firm's aims and objectives at Board level as this provides an opportunity to discuss different aims and positions over certain matters, such as company's long-term and short-term objectives, future plans and aims, and to achieve an agreement.

b). From the creation of Panda Wok, the aims of Chris and Laura were quite different, as after breaking even Laura's enthusiasm was increasing and she was looking forward of immediate expansion of restaurant chain, while Chris wanted to concentrate upon firstly building a good company image, then slowly but constantly expand. Discussing their different views would help them reach a compromise and control the firm more effectively.

). Internal constrains.

There was no middle management in Panda Wok, which meant that Laura and Chris were supposed to control a big number of restaurants throughout the country, which naturally they weren't able to do and so the quality of services provided decreased.

Also, it got clear that the company could not cut back spendings quickly when needed e.g. when bank demanded 400000£ overdraft to be halved in six weeks, firm was forced to desperate reappraisal, and finally Laura and Chris had to accept a refinancing package, which included company taking 40 % shareholding in the company.

External constrains.

Panda Wok faced a direct competition from other restaurants with better locations, although this is natural happening in a market and is unavoidable

The firm was also affected by a sharp VAT increase in restaurant food, but the biggest constrain faced by Panda Wok was the scandal in one of the outlets prosecuted for sloppy hygiene and food poisoning. The influential stakeholder-media-was involved here and that made company's takings decrease seriously for the following months.

4). Panda Wok should be aware of the economical circumstances, such as the value of pound, as that might lead to decreasing purchasing power of consumers, also the possible difficulties in market competition, as the slight decrease of quality can easily decrease the number of consumers. The changing taste of restaurant client also cannot be discarded, as there are no guarantees that Chinese food will be as popular in the future, as it is at the moment.

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