Strategic Management report on Prezzo which includes a strategic Essay

Strategic Management report on Prezzo which includes a strategic analysis and strategy formulation - Essay Example In 2011, the company’s chief executive was awarded the restaurateur of the year in the Caterer and Hotel Keeper Awards (Harden 2012). The restaurant has positioned itself as an eatery venue for a contemporary menu with an Italian cuisine touch. Vis a vis, its menu mainly includes pizzas, salads, pasta and grilled dishes. The restaurant expanded its service portfolio in 2013 by introducing Cleaver, additional venues that specifically offered American fare including chicken, ribs and burgers (Restaurant Portal, 2014). Currently, Prezza has a total of 3290 employees with revenue of  £ 179.19 million and an EPS growth rate of 10.07 % (Hardens, 2013). Prezzo is also a member of the sustainable restaurant association (SRA), therefore, highly committed to protecting and conserving the environment. External strategic analysis of Prezzo restaurant was conducted to evaluate the impact of the external environmental factors on the performance and growth of the restaurant in the UK market. Changes and trends of the UK restaurant industry were assessed using the Pestle strategic analysis tool. The government of UK highly regulates the food industry to manage the prevalence of lifestyle and food related chronic disease such as obesity. The government therefore interacts with Prezzo operations through health regulation, such as the policy on GM labelling for products containing genetically modified food, Good and Services tax on food prices and the issuance of licenses (Euro Monitor, 2014). However, Prezzo has managed to forge close relationships with governing authority through a mutual relationship, hence minimum interference with its operations There has been steady growth of the UK’s food industry for the last six years. According to a report by the Guardian (2014), the UK’s restaurant industry was experiencing a resurgence after the 2008 economic recessions. The market has been characterised by a rise in consumer expenditure and a forecast of UK