MINI CASE - CHINESE RESTAURANT 1999 2016 2022 Jim Davidson In 1985, Peter Wong immigrated to Canada from Hong Kong. Two years later, he opened a sitdown restaurant, Jade, serving authentic Chinese cuisine. He located in Markham, Ontariobecause many affluent Chinese were starting to make that community their home. Markham is a 20-minute drive north of Toronto. Last week, Mr. Wong celebrated the restaurants thirtieth anniversary with his staff and loyal customers. Although Mr. Wong is extremely proud of his success to date, he wants to build his business. On a typical weekday, the restaurant is about two thirds full from 11:30 AM to 2:00 PM. On Thursday, Friday and Saturday evenings, the seats are full from 9:00 PM until closing. Sunday is busy all day. At other times, the business is slow. During the first 20 years of operation, he advertised in a local, Chinese-language newspaper. Since then, he has relied upon word-of-mouth advertising. Mr. Wong observed that the few non- Asians who visit his establishment are out-of-town business associates of his regular patrons. The restaurant does not accept credit cards for lunch or specials. Mr. Wong sees Markhams recent boom in residential and commercial construction as an opportunity. However, he is concerned that other restaurants are opening in the area -- including two Chinese restaurants right next door to his establishment. Fast-forward to 2022, covid19 restrictions, imposed by the provincial government, have hampered revenue. Task1: SWOT Analysis Strengths: Point out Mr. Wongs activities that are beneficial to his business Weaknesses: Point out Mr. Wongs activities that are hindering further success Opportunities: Identify external opportunities Threats: Identify threats to Mr. Wongs business that fall outside of his direct control From your imagination, generate a list of ideas about how Peter Wong can improve his business. You can look for ways to build upon his strengths, minimize his weaknesses, seize an opportunity or counteract an external threat Next, select three or four ideas from your list of business opportunities. For each of these ideas, discuss the positives. What are the negatives/ challenges that Mr. Wong would face in adopting your idea? Task2: Market Research Identify key questions / issues to explore with existing customers and potential customers to enable Mr. Wong to make a solid business decision Identify competitive intelligence that your client, Mr. Wong, needs to make a solid business