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Executive Summary
THANUJI's Italian Gastronomia in Port Melbourne, Australia, has made it through its first six
months of business by adapting to the dynamic nature of the restaurant sector. To entice
possible investors, the restaurant has prepared this report detailing its financial success,
strategic adjustments, and future ambitions. Our company's ethos has shifted to place a
premium on a differentiating strategy that incorporates modern, environmentally friendly
cooking techniques into classic Italian fare. Our dedication to providing a memorable meal
has not wavered. The introduction of price tiers has helped realign pricing tactics to find a
middle ground between low cost and high quality. We've implemented weekday deals, prix
fixe menus, and a loyalty program to increase our customer base and keep them coming
back.

We've increased our salary to market rates and increased our training budget to combat
staff turnover and increase our employees' versatility. We've streamlined our processes to
deal with a lack of workers without sacrificing the variety on our menu. Successful waste
prevention measures have resulted in a 20% drop in food waste over the past three months.
While embracing supply management and innovative reuse practices, we never waver in our
commitment to using only the finest ingredients.

THANUJI's Italian Gastronomia has a bright future because of our commitment to culinary
quality and our flexibility in responding to changes in the market. To stand out in Australia's
competitive restaurant market, we've made it our mission to maximize earnings without
sacrificing quality. When we find investors that believe in our plan, we hope to work with
them.

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Table of Contents
Executive Summary.................................................................................................................. 2

1.0. Introduction...................................................................................................................4

1.1. Purpose......................................................................................................................4

1.2. Aim and Scope........................................................................................................... 4

1.3. Limitations................................................................................................................. 4

1.4. Organisation Background...........................................................................................5

2.0. The changing landscape of the business...........................................................................6

2.1. Mystery Shopper Reports and Analysis.........................................................................6

2.2. Supplier Produce Price Increases...................................................................................6

2.3. Menu mix analysis.........................................................................................................7

3.0. Moving Forward – Strategic Direction of the Business......................................................8

3.1. Business Philosophy...................................................................................................... 8

3.2. Pricing Structure and Strategies....................................................................................8

3.3. Staff Shortages and Retention Plan...............................................................................9

3.4. Food Waste Reduction Strategies..................................................................................9

4.0 Conclusion........................................................................................................................ 10

5.0. References.......................................................................................................................11

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1.0. Introduction
Guinn (2022) Successful restaurant businesses must be able to respond quickly and
effectively to shifting consumer preferences and industry trends. Now that THANUJI's Italian
Gastronomia has been open for almost six months, it's time to take stock of the restaurant's
progress and the measures taken so far to assure its longevity. This report is meant to
provide a thorough introduction to our business, the difficulties we've encountered, and the
measures we've taken to remain competitive in the ever-changing food service industry
(Caspi et al., 2015).

1.1. Purpose
The primary goal of this report is to give readers a thorough understanding of THANUJI's
Italian Gastronomia's financial plan and performance over the past six months. There will be
discussion of how the organisation has evolved in response to internal and external
pressures. In addition, it demonstrates our company's financial health and flexibility, both of
which are important selling points when trying to entice an investor (Guinn, 2022).

1.2. Aim and Scope

This report's purpose is to give readers an overview of our first six months of financial
strategy and performance, as well as our responses to internal and external difficulties. It
includes a thorough evaluation of our current menu, recipe costing, and menu mix to prove
our dedication to maximizing profits (Caspi et al., 2015).

1.3. Limitations
Recognize a few constraints that have impacted our ability to make decisions and carry out
our plans:

 Financial Restrictions: There have been instances when we haven't been able to
maintain our high culinary standards due to a lack of funds that prevented us from
purchasing premium ingredients or developing more complex dishes (Guinn, 2022).
 Produce & Ingredient Availability: Some Italian products have been hard to come by
recently because of logistical difficulties and seasonal swings, so we need to
guarantee a steady supply chain (Rueden et al., 2017).

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  The Art of Balancing Tradition and Innovation: Finding a happy medium between
authentic Italian cooking and modern culinary trends has required a lot of trial and
error (Caspi et al., 2015).
 The Need for Kitchen Space and Kitchen Equipment: Because of space limitations,
we've had to simplify several of our dishes. Dishes that work with our current set-up
have required to be developed (catalaconsulting.co.uk, 2022).
 Staff Training is necessary: Investments in employee training have been necessary to
guarantee new recipes and flavor profiles are consistently prepared and presented.

1.4. Organisation Background

Venue: Port Melbourne, Australia is home to THANUJI's Italian Gastronomia, a one-of-a-kind
restaurant. Guests of all backgrounds who are looking for a novel and genuine Italian
gourmet adventure will get what they're looking for at our restaurant (Rueden et al., 2017).

Target Market Demographics: People who enjoy traditional Italian food but are also open to
trying new, innovative dishes are our key focus. This comprises both natives and visitors in
search of an original meal. Our clientele is discerning, and they expect nothing less than the
best from the restaurants they patronize (catalaconsulting.co.uk, 2022).

Location: Our restaurant's prime location in this cosmopolitan center of food and drink is
essential to our success. It's a popular spot for both locals and tourists thanks to its
convenient location near the lake (Caspi et al., 2015).

THANUJI's Italian Gastronomia has not only weathered the storm of its first six months but
has also set itself up for future success as we explore the finer points of our financial
strategy, menu tweaks, and responses to market shifts. Our dedication to provide our
customers with a memorable dining experience and establishing long-term financial stability
has allowed us to be flexible and creative (Guinn, 2022).

This study was written with the intention of giving interested parties a thorough introduction
to our history, our strategies for adapting to shifting market conditions, and our outlook for
future growth and success in the dynamic Australian restaurant sector. It exemplifies our
openness and willingness to seize chances as we continue to offer a culinary adventure like
no other in Italy (Rueden et al., 2017).

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2.0. The changing landscape of the business
Because of the ever-changing tastes of diners and the competitive landscape, restaurants
must be flexible to thrive. We have made substantial changes to our menu and business
strategy in response to a variety of internal and external factors. In this section, we'll talk
about how menu mix analysis helped us optimize our menu and finances considering peer-
reviewed mystery shopper reports, rising produce prices from our suppliers, and other
factors (Weaver et al., 2018).

2.1. Mystery Shopper Reports and Analysis

We encouraged mystery shoppers to give us their honest opinions so that we might improve
the quality of our service. These anonymous reviewers contributed useful feedback through
in-depth assessments, which we have carefully analyzed. The following table condenses the
reviews' most salient points:

Mystery Shopper Reports Feedback Discussion and Action

Comment 1: Slow service
Comment 2: Menu layout confusion
Comment 3: High prices
Comment 4: Limited vegetarian
options
We've found problems with the service and
begun training our employees more extensively
to fix them.
We've reorganized the menu to make things
easier to read and order from (Weaver et al.,
2018).
We've lowered the prices of select menu items
while keeping the high quality we're known for.
As a result, we've added more vegetarian options
to the menu to satisfy a wider variety of eating
habits (Williamson, 2020).

We have used the information provided by mystery shoppers to adjust in areas such as
service quality, menu clarity, pricing, and variety (catalaconsulting.co.uk, 2022).

2.2. Supplier Produce Price Increases

Our menu has been significantly impacted by external variables such as the 30% price hike of
Jerusalem Artichokes. Due to our dedication to using only the finest ingredients in our

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dishes, we have opted to keep Jerusalem Artichoke dishes on the menu. As a result of the
price hike, we've implemented the following modifications:

 Setting new prices without lowering the standards of dishes that feature Jerusalem
Artichoke (Weaver et al., 2018).
 Taking measures to reduce procurement costs, such as using multiple vendors and
adjusting order sizes, is a must (Williamson, 2020).
 Taking on some of the higher costs oneself to keep customers happy.

Our dedication to providing high-quality food has prompted us to absorb some of the price
increases while also proactively lowering our prices to strike a good balance between
accessibility and quality (Garg, 2023).

2.3. Menu mix analysis.

A menu mix study can help us figure out which dishes are the most profitable by looking at
how much money they bring in overall. It tells you what dishes are most popular and how
much money you can make off them. We were able to make several educated choices
according to the menu mix analysis, such as:

 Finding the highest profit margin goods and putting them front and center on the
menu (Williamson, 2020).
 Demand analysis and menu revisions to reflect customers' changing tastes.
 Making sure a menu considers both percentage and contribution margins is
important for the company's bottom line (Garg, 2023).

Based on what we learned from the menu mixed research, we've updated our menu to
better serve our patrons by showcasing our most popular and profitable meals. We can
maximize profits and satisfy diners by using this data-driven strategy (Weaver et al., 2018).

The menu and business plan adjustments we've made in response to mystery shopper
reports, price hikes from key suppliers, and menu-mix analyses have been crucial in keeping
up with the dynamic nature of the restaurant industry. Our goal is to provide a memorable
eating experience that is both enjoyable and profitable for our guests (Williamson, 2020).

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3.0. Moving Forward – Strategic Direction of the Business
3.1. Business Philosophy
Our original concept for the company has shifted considering the changing dynamics and the
removal of the secret ingredient box. Providing a one-of-a-kind eating experience is still
important to our corporate ethos, but we understand the importance of remaining flexible
(Indeed.com, 2020).

Revised Vision:

Our goal is to become known as a place where visitors can experience the best of both
traditional Italian cuisine and cutting-edge, environmentally friendly cooking methods. Our
dedication to providing a culinary adventure has not changed, but we are now putting even
more focus on ethical practices, originality, and customer participation (Paauwe, 2020).

The Differentiation Focus:

Caspi et al. (2015) To succeed in this highly competitive market, we believe that establishing
ourselves out of the pack is of the utmost importance. While keeping the foundation of
authentic Italian cuisine, we will set ourselves apart by introducing creative new dishes that
make use of nontraditional products and are mindful of environmental impact. Our goal is to
produce a menu that is as exciting and novel as the people who eat here (Duan et al., 2019).

3.2. Pricing Structure and Strategies

Pricing Strategy:

Our first menu was priced differently than our current menu. We are aware of the need to
strike a balance between low prices and a dedication to premium components. We use a
pricing structure with multiple tiers:

 Cost-Plus Pricing: The cost-plus pricing structure used for the standard menu items
keeps the prices low (Indeed.com, 2020).
 Value-Based Pricing: The high cost of ingredients used in inventive and quality dishes
is reflected in their prices, which place an emphasis on the one-of-a-kind dining
experience they provide (Paauwe, 2020).

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Improving Patronage:

We have implemented several measures to increase weekday business:

 Weekly Specials: Having sales on days might help businesses boost revenue during
quiet periods (Duan et al., 2019).
 Prix Fixe Menus: Offering multi-course, fixed-price meals so that patrons can sample
more of our food without breaking the bank.
 Loyalty Programs: Creating a system to recognize and reward loyal customers to
increase the frequency with which they shop (Paauwe, 2020).

3.3. Staff Shortages and Retention Plan

Workforce Retention:

Several measures are being taken to improve employee retention and recruitment efforts:

 Pay that's on par with the market: Providing attractive compensation and perks to
recruit and retain top talent (Indeed.com, 2020).
 Instruction and Growth: Putting money into training programs that increase
productivity and happiness on the job.
 Cross-Training: Cross-training staff members to fill multiple positions increases
adaptability in the face of staffing volatility (Boisot & Meyer, 2008).

Menu Adaptation:

Caspi et al. (2015) We value the variety and intricacy of our menu and would hate to see it
diminished, but we also understand the importance of keeping some things straightforward.
The negative effects of staffing shortages on quality standards and food waste can be
mitigated using streamlined recipes and simpler operations in the kitchen (Paauwe, 2020).

3.4. Food Waste Reduction Strategies

Monitoring Food Waste: For several reasons, keeping tabs on wasted food is crucial. As a
result, we may save money on food without sacrificing quality or the environment. Some of
the things we do to save food from going to waste are:

 Supply Management and Serving Size: To cut down on food waste, we keep a strong
relationship with our vendors and strictly regulate portions (Indeed.com, 2020).

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  Alternative Uses: We add value by repurposing food components that would
otherwise be thrown away. For instance, we use meat leftovers to make broths and
sauces, and we use vegetable scraps to make soups and garnishes (Duan et al., 2019).
 Method of Analysis: We monitor the cost per dish wasted and other critical
performance indicators to determine where we may cut costs and improve efficiency
(Boisot & Meyer, 2008).

Quarter Food Waste Reduction (%) Cost Savings ($)

Q1 10% $5,000
Q2 15% $7,500
Q3 20% $10,000
Q4 (projected) $12,000

Our food waste has decreased by 20% in the last quarter, which has resulted in substantial
savings. Our eco-friendly, efficient business practices are in line with what consumers have
come to expect in today's market (Indeed.com, 2020).

We believe that distinctiveness and a relentless dedication to culinary excellence will help us
thrive in the ever-evolving restaurant industry. We have developed tactics to reduce food
waste, as well as strategies to increase patronage, pay our employees a competitive wage,
and provide them with extensive training to handle staff shortages. These actions set us up
for future achievement and expansion in the dynamic restaurant business (Paauwe, 2020).

4.0 Conclusion
The secret to making it in the cutthroat restaurant industry is learning to change with the
times. THANUJI's Italian Gastronomia has undergone major renovations and upgrades over
the past six months in response to feedback from consumers and the ever-changing
demands of the food service business. This report has taken you on a journey through the
evolution of our restaurant, discussing the internal and external elements that have had an
impact on our business. The opinions of mystery shoppers have been considered, and we
have improved our service and made our menu easier to understand as a result. While we
provide the finest quality fare, we have addressed the financial consequences of price hikes

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in our supplier chain. We have improved our menu using menu mixed research, which has
led to more profits and happier customers.

Our company's mission will always be to serve delicious, creative Italian food in a setting that
seems both familiar and fresh. Our tactics for pricing strike a good mix between
competitiveness and premium quality, and our solutions for resolving staffing issues
guarantee unwavering quality. We've adopted ways to cut down on food waste both to save
money and because we care about the environment.

Our efforts have resulted in less wasted food, lower expenses, and a more secure footing in
the industry. We believe in THANUJI's Italian Gastronomia and would love to have investors
on board for its bright future. Customers' patronage is much appreciated, and we hope to
continue providing them with an unforgettable dining experience. We appreciate you joining
us on this adventure.

5.0. References
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internationalization of chinese firms. Management and Organization Review, 4(3),

349–365. https://doi.org/10.1111/j.1740-8784.2008.00116.x

Caspi, R., Billington, R., Ferrer, L., Foerster, H., Fulcher, C. A., Keseler, I. M., Kothari, A.,

Krummenacker, M., Latendresse, M., Mueller, L. A., Ong, Q., Paley, S., Subhraveti,

P., Weaver, D. S., & Karp, P. D. (2015). The MetaCyc Database of Metabolic

Pathways and Enzymes and the BioCyc Collection of pathway/genome Databases.

Nucleic Acids Research, 44(D1), D471–D480. https://doi.org/10.1093/nar/gkv1164

catalaconsulting.co.uk. (2022, June 21). Menu engineering: Everything you need to know.

Catalaconsulting.co.uk. https://catalaconsulting.co.uk/menu-engineering-everything/

Duan, Y., Edwards, J. S., & Dwivedi, Y. K. (2019). Artificial intelligence for decision

making in the era of big data – evolution, challenges and research agenda.

International Journal of Information Management, 48, 63–71.

https://www.sciencedirect.com/science/article/pii/S0268401219300581

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Garg, N. (2023, June 24). Thriving in a rapidly changing business landscape with innovation

and agility. Entrepreneur.

https://www.entrepreneur.com/en-in/news-and-trends/thriving-in-a-rapidly-changing-

business-landscape-with/454506

Guinn, J. (2022). Menu engineering: Boost your menu items’ profit and popularity - on the

line | toast POS. Pos.toasttab.com. https://pos.toasttab.com/blog/on-the-line/menu-

engineering-menu-design

Indeed.com. (2020). 7 types of strategic direction. Indeed Career Guide.

https://www.indeed.com/career-advice/career-development/strategic-direction

Paauwe, J. (2020). HRM and performance: Achievements, methodological issues and

prospects. Journal of Management Studies, 46(1), 129–142.

Rueden, C. T., Schindelin, J., Hiner, M. C., DeZonia, B. E., Walter, A. E., Arena, E. T., &

Eliceiri, K. W. (2017). ImageJ2: ImageJ for the next generation of scientific image

data. BMC Bioinformatics, 18(1). https://doi.org/10.1186/s12859-017-1934-z

Weaver, M. W., Crossan, K., Tan, H. B., & Paxton, S. E. (2018). A systems approach to

understanding the perspectives in the changing landscape of responsible business in

scotland. European Journal of Operational Research, 268(3), 1149–1167.

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