TJs restaurant is a high-class restaurant institution that offers quality and reputable hospitality. The restaurant was established fifteen years ago (TJs Restaurant 2012). TJs offers high-quality services with excellent rooms that are capable of holding various groups of consumers. It has conference rooms for company meetings and family rooms for family recreation activities. The restaurant is strategically located in the area where the rooms introduce a magnificent view of the harbour. Currently, the restaurant offers twenty-four hours service to its customers (TJs Restaurant 2012).
According to TJs financial records, the enterprise makes an average of one hundred and twenty thousand dollars annually with a fifty-five per cent gross profit (TJs Restaurant 2012). However, over the past few years TJs has been experiencing financial problems due to the economic crisis. Currently, it is becoming extremely difficult for the restaurant to make high revenues due to the increase in expenses. The restaurant is on the verge of closing down. If proper measures are not taken, its commercial activities will be over. It is because of these facts the company identified certain economic strategies to adhere to.
First, the restaurant’s management has decided to avoid utilizing the expensive foods and focus on improving quality of profitable dishes (Bryant 2008). In this case, TJs is focusing on enhancing quality of the muffin breakfast and the spring chicken served with onions. Additionally, they are going to market TJs employing these foods as a brand. Second, the management authorities are planning to introduce special theme nights for families (Bryant 2008). This is where they are going to provide fun fares to suit family consumers daily. Improvement of quality in relation to customer care services is another strategy the management is prepared to implement. For this reason, all the staff members are being trained to improve their customer care skills. Finally, high-end clients are going to enjoy a boat ride in the harbor. Therefore, with the implementation of these strategies, revenues are going to increase significantly (Bryant 2008).