Wannaburger Restaurant Assignment Example | Topics and Well Written Essays - 1500 words

Wannaburger Restaurant - Assignment Example This ensures the business can make the appropriate changes in ensuring they reach at the forecasted results. However, neglecting the measurement of all the objectives will not likely give the required performance. For example, when a business wants to improve in its sales, it should give a measurement on the planned improvement (International Institute of Business Analysis, 2005). Leaving out this particular aspect does not give an approach that will be instrumental in the improvement. Therefore, there is a need to look at measurable objectives before stating an approach in solving the incumbent issues. In this case, Wannaburger restaurant wants to make an improvement in its performance since the situation is not appealing. Therefore, it has to make succinct approaches in ensuring it has achieved what it wants both in the long term and in the short term. This is an approach that will guarantee better performance in terms of offering its services and products to the market in need. Th erefore, the business has to put its focus on the best approach that will increase its performance (Palepu and Healy, 2007). For example, the business has to make use of a better marketing mix that will attract a larger part of the market in demand for its products and services. Attracting a larger part of the market guarantees that the business will have an increase in the turnover. This means that their products will be highly demanded by the market (Hay, 2003). This will directly reflect an influx in the revenue of the business as it will garner more sales. This will in the end give a positive result on the profitability of the business. First of all, the business has to look for ways of enhancing its product. Most of the people in the market only appreciate the product and services that are offered. The market does not look for other aspects that are involved in the business and this could affect the business. For example, when a market is attracted to the quality of a product o r a service, they will continue using the product or service due to its quality. When the quality of the product or good is enhanced, the product or service will attract an even larger market. Therefore, enhancing their product is one of the aspects that should be considered. For example, when the quality of a product deteriorates, the market is likely to look for alternative products that have more quality (International Institute of Business Analysis, 2005). As such, the business is likely to loose a number of its esteemed customers due to deteriorating quality of products. Therefore, if the business wants to give a positive performance in the market, it should look forward into improving its products and services that are offered to the market. This will attract an even larger market in need of its products and services. In addition to this, the business should look at its competitors. When competitors are making an improvement in their businesses, other businesses have to take t he same route. This is due to the attraction the business poses to the market. With improved service and product delivery, the business is likely to attract a larger part of the market. The second aspect that should be considered in plotting a solution inn this scenario is the bordering market. At times, market expansion improves the performance of the business. For example, the business is likely to record an increase in the number of people that are allied to the services and products that are sold by the business (International Institute of Business Analysis, 2005). Therefore, this is a considerable approach that should be taken by Wannaburger restaurant. Apparently, an approach that would be used in this aspect is enhancing the market that borders the