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INTL711 International Business Management

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INTL711 International Business Management

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INTL711 International Business Management

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Course Code: INTL711
University: Centennial College is not sponsored or endorsed by this college or university

Country: Canada

You will use the Focus statement’ above as the theme of your essay. You will also need to undertake an investigation of a business(restaurant) with which you are familiar. Then describe how and why you would establish and build business relationships with the entities you have identified, and their importance for the business’ success. Investigation The people or other businesses etc. that your business currently deals with? Who else they could deal with and why? How your business might deal with these other people or businesses? 

Aurora Restaurant is one of the fastest growing restaurant chains in the Oceania region having its roots and base in Canberra. The restaurant was founded in the year 1979. Since then the restaurant is spreading its branches and setting up new outlets in different parts of Australia particularly in Sydney, Perth, Adelaide, New Castle and many more and are currently having 230 branches. One signature dish of the restaurant is a unique variety of seasoned onion tossed in oyster sauce. The restaurant group have a contract with Outback Steakhouse from America having its outlet in Adelaide and Perth. They supply famous Blooming onion to the Aurora Group for the preparation of their signature dish. In the later part, there is detailed description regarding why and how the company can create good bonding with customers, suppliers, providers, partners and allies. Besides detailed analysis in the context of how the restaurant is aiming to enhance its customer base by virtue of a healthy relationship with the above mentioned stakeholders’ groups.
In a business, mainly in a restaurant business, the main thing is the customer service and the quality of experience. The first and primary thing that the restaurant chain Aurora and its upper management should be concerned with is, building a good bond and relationship with customers, providers, suppliers, partners and allies. The necessity for developing a strong relationship are discussed hereafter.
Firstly, the restaurant chain should have good relationship with customers. If the restaurant can maintain a good relationship with the customer, then the random customer will turn into a loyal customer of the restaurant (Cho et al. 2017). They would not only prefer the restaurant over the others but also will suggest the restaurant to the near and dear ones, resulting in increment in the customer base and the revenue of the restaurant chain. Secondly, the restaurant chain should have good relationship with suppliers (Cho et al. 2016). The restaurant will be benefited as an outcome, since they will be able to get raw ingredients to cook foods and deliver the customers at most competitive prices. Since the restaurant gets the raw materials at wholesale prices due to bulk ordering, they can keep the prices in their menu quite low in comparison to price standards in the market.
Thirdly, the restaurant management officials should maintain good relationship with the partners because if the profit of the restaurant rises then the partners will invest more capital into the business and aim at a higher profit in the future. Fourthly, the restaurant chain should maintain good relationship with the providers which includes staffs and workers in the different branches of the restaurant because if the restaurant if the restaurant tries to deliver best wage and allowances to the providers, then they would also give their best for ensuring best service for the customers. This would have a direct positive impact on the customer satisfaction rate and the target customer base of the company would also enhance as an outcome of this. Lastly, the restaurant should also maintain strong relationship with allies (mainly online delivery agencies), which can result in third party branding and word of mouth publicity of the brand on their website resulting in increased sales and customer base.
The next important thing is how to establish a good relationship with the customers, providers, suppliers, partners and allies. Firstly, good relationship with the customers can to be maintained by being transparent to the customers about pricing, policies and so on. The restaurant officials should ensure customers good experience which is the key to retain a customer and create good bonding. The practice of giving discount offers to regular customers can also prove to be beneficial for the brand (Hyun and Perdue 2017). Secondly, the restaurant chain should build good relationship with the suppliers by talking to them on regular basis, paying their money before due dates, and creating good bonding with the officials of the supply chains and inviting them to any special occasion of the restaurants. Thirdly, the restaurant should be in good relationship with the partners, as they are the backbone of the chain and provides funds. Influenced from the perception of Lee, Hallak and Sardeshmukh (2016), it can be opined that relationship building with them by inviting them to attend any special occasion of the restaurant and always consulting business affairs with them to create bond and win their trust will help in the future to attract more investment. Fourthly, the restaurant officials should frequently communicate with the workers and indulge in more informal conversations their positions and provide good business environment to the providers.
In the restaurant business, the main stakeholders who should be given utmost importance to earn more profit as well as name and fame are the customers, suppliers, providers, partners and allies. The above essay contains the detailed information that how Aurora Restaurant chain can expand their business in different parts of Australia by building good bonding and relationship with the newer customers by providing good experience. Not only the customers, the restaurant group is also attempting to develop favourable business relationship with allies, suppliers, providers as well as partner ensuring the sustainability of the business in the future.  
Reference List
Lai, M.Y., Khoo-Lattimore, C. and Wang, Y., 2018. A perception gap investigation into food and cuisine image attributes for destination branding from the host perspective: The case of Australia. Tourism Management, 69, pp.579-595.
Lee, C., Hallak, R. and Sardeshmukh, S.R., 2016. Drivers of success in independent restaurants: A study of the Australian restaurant sector. Journal of Hospitality and Tourism Management, 29, pp.99-111.
Lee, C., Hallak, R. and Sardeshmukh, S.R., 2016. Innovation, entrepreneurship, and restaurant performance: A higher-order structural model. Tourism Management, 53, pp.215-228.
Han, S.J., Bonn, M.A. and Cho, M., 2016. The relationship between customer incivility, restaurant frontline service employee burnout and turnover intention. International Journal of Hospitality Management, 52, pp.97-106.
Hyun, S.S. and Perdue, R.R., 2017. Understanding the dimensions of customer relationships in the hotel and restaurant industries. International Journal of Hospitality Management, 64, pp.73-84.
Cho, M., Bonn, M.A., Giunipero, L. and Jaggi, J.S., 2017. Contingent effects of close relationships with suppliers upon independent restaurant product development: A social capital perspective. International Journal of Hospitality Management, 67, pp.154-162.
Cho, M., Bonn, M.A., Han, S.J. and Kang, S., 2018. Partnership strength and diversity with suppliers: Effects upon independent restaurant product innovation and performance. International Journal of Contemporary Hospitality Management, 30(3), pp.1526-1544.
Mathe, K., Scott-Halsell, S., Kim, S. and Krawczyk, M., 2017. Psychological capital in the quick service restaurant industry: a study of unit-level performance. Journal of Hospitality & Tourism Research, 41(7), pp.823-845.

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