Implementation Plan for Friar Tucker Galleria Project

Running head: IMPLEMENTATION PLAN FOR FRIAR TUCKER GALLERIA PROJECT

Implementation Plan for Friar Tucker Galleria Project

Brittany Sims-Byrd

University of Phoenix

Implementation Plan for Friar Tucker Galleria

The purpose of this paper is to present an implementation strategy for Friar Tucker, International’s Galleria project. The Galleria project has the potential increase profits after the initial investment of $5 million dollars. Also, the project fits well within Friar Tucker International’s strategic plan. The most important parts of this strategy is to make sure that we operate within the budget and to make sure that we are in position to make money at the end of the projected 5 year period.

Friar Tucker’s Strategy

Friar Tucker International (FTI) is a hospitality services chain that manages 35 entertainment and cuisine establishments-15 cuisine establishments, 10 sports establishments, 8 family establishments and agreements with two hotel chains for subcontracted work. The company employs approximately 1,200 individuals and generates revenue of more than $300 million. The revenue breakdowns are a follows:

Cuisine Establishments $97 Million

Sports Entertainment $101 Million

Family Entertainment $92 Million

Subcontracted Work $15 Million

The vision of FTI is: to be among the top ten hospitality service providers in the family entertainment business, based on our superior service levels and innovative marketing.” The corresponding mission is “to attract more visitors and customers through food and entertainment facilities, and ensure a great family experience.”

The key focus areas for Friar Tucker International over the next three years are as follows:

• Establish their presence in the entertainment hospitality segment

• Consolidate their presence in the cuisine business by expanding into specialty establishments

• Expand into the corporate entertainment segment.

(Apollo Group, 2003). Ricardo Bellini, the dynamic CEO of Friar Tucker, has expanded FTI’s business by entering into agreements with several hotel chains to plan and execute projects for them. FTI’s business is booming to a point where not only was Ricardo able to complete projects that fell into their core business but he also stepped outside the core business with the hotel chain agreements. The eccentric method in which projects were chosen, led the CEO to create a project selection committee to identify the projects the company should pursue.

The project selection committee (PSC) was tasked to short-list three projects that were determined as being in line with the company’s strategic objectives and core business. The committee was given a set of critical success determinants along with the critical weight associated with each determinant. The PSC narrowed the project list to Friar’s Nest, Braithwaite Greens and Galleria.

After applying a relevance factor to each critical success determinant, and based on the weight of each determinant, the project selection committee decided that the Galleria project best fit the strategic objectives of FTI.

Friar Tucker’s Strategy

FTI currently operates in the hospitality services industry, specifically the family entertainment business. Friar Tucker’s vision is to be among the top ten hospitality service providers in the family entertainment business, based on their superior service levels and innovative marketing (Apollo Group, 2003). FTI also has a secondary vision to attract more visitors and customers through their food and entertainment establishments and to ensure an enjoyable family experience. This vision sparked the current 35 managed establishments however; the vision was not the inspiration behind the Galleria.

The motivation behind the Galleria comes from FTI’s key focus areas over the next three years. FTI wants to establish their presence in the entertainment hospitality segment, consolidate their presence in the cuisine business by expanding into specialty cuisine establishments, and to expand into the corporate entertainment segment. The Galleria project fits into these key focus areas while strengthening the corporate