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Question - Three years ago, Big Plc purchased the fast-growing restaurant chain Oliver's Limited from their charismatic, innovative founder and award-winning chef Oliver Pratt. The restaurants were situated in excellent locations and normally in slightly unusual premises (converted pubs and banks). When Oliver ran the company, each restaurant had its own manager who worked carefully with Oliver to create the relaxed dining environment which gave the company its excellent reputation. After purchasing Oliver's Limited, Big Plc restructured the company. Regional managers were appointed, and the company was split into four divisions each based in a different part of the country. The regional managers were given total control over their restaurants and are able to set their own prices. The performance of the regional managers is measured by two key performance indicators (kpi), which if exceeded resulted in the regional manager gaining a substantial bonus. The kpi's the managers are measured against are the utilisation percentage (occupied tables/available tables) and the return on investment (ROI).
Despite positive financial results, the company is concerned, a recently commissioned customer survey showed that 35% customers rated the experience as disappointing and only 55% said that they would come again. The information below relates to the company's financial performance over the last three years:
Year Ending
May 2019
£'000
May 2020
May 2021
Revenue
£17,399
£19,124
£21,346
Purchases (variable costs)
£4,680
£4,800
£5,230
Expenses:
Staff
£2,704
£2,825
£3,136
Building Repair & Maintenance
£521
£531
£542
Other Building Costs (rent etc.)
£5,264
£5,904
£6,867
Marketing
£851
£1,089
£1,220
Other Fixed Costs
£2,032
£2,089
£2,218
£16,053
£17,239
£19,212
Profit
£1,346
£1,886
£2,134
Net Assets
£10,304
£10,872
£12,159
Key Performance Indicators
Return On Investment (ROI)
13.1%
17.3%
17.5%
Utilisation %
58%
63%
65%
Other Operating Data
Number of Restaurants
16
18
21
Total Customers in the Period
400,896
489,110
585,144
Required - Evaluate the unique resources and core competencies that were being used by Oliver's Limited to achieve its competitive advantage before it was taken over by Big Plc.
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