Term XXXXXXXXXXAssignment 3. Final Exam (alternative assignment) – Due Sunday 1 October 11.59pm. Purpose: The purpose of this assignment is to provide an opportunity to utilise your skills and...

STRATEGIC MANAGEMENT
Table of Contents
1) Introduction    4
2) Background of the Industry    4
3) SWOT Analysis of the Industry    5
Strengths:    5
Weaknesses:    5
Opportunities:    5
Threats:    6
4) PEST Analysis of the Industry    6
Political Factor:    6
Economic Factor:    6
Social Factor:    6
Technological Factor:    6
5) Profitability of the Industry    7
6) Factors Driving Profitability    7
Branding:    8
Efficiency of Operations:    8
Location:    8
7) Effect of Changes on Industry Profitability    8
8) Recommendations    9
9) Conclusion    10
References    11
1) Introduction
Strategic management is the continuous planning, analysing, assessing and monitoring the activities that are undertaken by many organisations. The main aim of strategic management is to meet the objectives and goals of organisation. It is required by the organisation to assess the success strategies for the change in business environment. The current report will consider the case of fast food industry in Australia and the company taken is Subway, which is a fast food restaurant franchise, which majorly is expertise in submarine sandwiches, beverages and salads. The report will outline the background of the industry, external and internal environmental analysis by undertaking the PEST and SWOT analysis. In addition to that, it will explain the profitability of the industry and the factors driving productivity. Furthermore, the effect of changes and the change in future for the industry will be demonstrated and finally, it will follow the recommendations.
2) Background of the Industry
The industry of fast food began with the chip shops and first fish in the Britain in 1860 and the actually term for this industry is also stated as the quick service industry. The dining concepts are they taken into the consideration to make the profitability of the company and increasing the industry. This industry firstly gained the profitability in East rapidly due to the ease of global communication among the industry. The marketing plays an important role in the success of the fast food chain industry and thus they vest on everything. Fast food despite being treated as the taste bud however hazardous to health and comes bearing a plethora of ailments. Therefore, the marketing is necessary for the business to be profitable and make the sales (Dastane and Fazlin, 2017).
Fast food industry in Australia has its own pace since, Australia is an autonomous state with a good political structure and a low-risk economic climate and it is regarded as one of the world's most stable economies. Its government procedures and laws are open and obvious and it employs flexible financial methods. The legal system of Australia is a blend of statute and common law and both domestic and international organisations are treated equally before the law. Australia's food sector encompasses a wide range of items. Although the weather is mostly dry, Australia has a diverse range of climates and soil types (Martinez-Sala, Quiles-Soler and Monserrat-Gauchi, 2021).
The majority of these are used for food harvesting and include high-rainfall coastal areas, northern tropical districts, dry and semi-dry climates. This range, combined with cutting-edge technology, positions Australia as a reliable long-term supplier to global markets. It helps to undertake the effect of international trends as well as it is developed exclusively because the customers are fond of dining and there is an increase in the fast food industry evolved over the industry within the market. This chain outlet has the fast food operator appear to hold up in different shifts with the regard of assorted fast food substitute.
3) SWOT Analysis of the Industry
Strengths:
Fast food industry has the no. of stores with different outlets compared to their competitors. It gives the advantage to cover the larger potential population. There is a high brand loyalty, which is followed among its customers. For instance, Subway is the place, which is more trusted organisation and it is one of the most valuable restaurants. The brand value of the company stands for $10.314 billion. Subway stands out among the many various burger and pizza restaurants because it is a custom-made sandwich. With the many ingredients available, you can customise it to your liking. When it comes to customisation, no other fast food chain has come close to matching the appeal of subway (Ferreira et al. 2019).
Weaknesses:
Sometimes old-fashioned themed restaurants can be the major weakness of the fast food industry and this too engaged by the Subway, which has not updated their style of restaurant according to the changing times. The company's brand name is harmed by a lack of online presence and promotions. In today's digital age, having an online presence is just as crucial as having a physical presence. This is an area where Subway falls short.
Opportunities:
There are many opportunities in the fast food industry and it makes the industry health consciousness where people are getting more and more conscious regarding health in today’s world. For instance, Subway can actually exploit this and become more successful as restaurants and brand. It also helps in ensuring the home delivery where these industries are providing services such as home delivery. Subway has stuck with only one kind of product where the company needs to diversify into various kinds of healthy options (Budiman et al. 2018).
Threats:
New restaurants are springing up that follow the Subway model. This may harm the consumer base because they will be able to better influence local people and service their requirements in the regional base.
4) PEST Analysis of the Industry
Political Factor:
The political considerations that influence the industry of fast food...