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Olive Garden and the owner
Transcript of Olive Garden and the owner
Olive Garden was originally founded in 1982 in Orlando, Florida.
The company was started by General Mills and then in 1995 General Mills spun off its restaurant division including Olive Garden and Red Lobster. The new independent company was called Darden Restaurants in honor of Bill Darden, founder of Red Lobster.(Darden.com).
Darden is a publicly traded company and is traded on the NYSE as DRI.
Share price is $51.53 as of 10/31/2013.
Darden owns 8 restaurant chains, Olive Garden, Red Lobster, Bahama Breeze, Seasons 52, Eddie V's, Capital Grille, Yard House and Long Horn Steakhouse.
Olive Garden employs more than 95,000 people (Darden.com).
Olive Garden's headquarters are in Orlando, Florida.
It has been listed in both 2011 and 2012's Fortune's list of "100 Best Companies to Work For"
It was then during the 90's that Darden reinvented Olive Garden and turned it into the world's largest corporate owned chain of Italian restaurants.
Created by: Andrew Bellavia
Even during the Global Financial Crisis (GFC) of
2008, Darden continued to increase its revenue. However, in the past year 2 years, revenue has dropped significantly. Which
begs the questions
why and how?
The financial year end is in May (http://bi.galegroup.com.portal.oaklandcc.edu/global/?u=lom_oakcc).
Olive Garden's tag-line/ brand promise used to be, "When you're here you're family" but was recently changed to "We're all Family here"
Their strategy. "We are a family of local restaurants, focused on delighting every guest with a genuine Italian dining experience.
Olive Garden's mission statement is to "Provide fresh, simple, delicious Italian food"
A brief description of the
products and services.
Target market and brand image
Olive Garden has traditionally been a family style restaurant with many older folks preferring to eat there, however recently the company has tried to modernize the image and move towards being a place for the younger crowd.
This past February the company switched the classic white shirt and tie for a more casual black shirt and no tie look.
The new, and some remodeled restaurants have tv's in the bar area and the music has been switched from a 1950's era Dean Martin to present day hits.
Employees are allowed to have their sleeves rolled back and tattoos are allowed to be shown.
These business moves are being done to keep the brand vibrant and young. After all, it's that next generation that they are looking to win over, in order to stay afloat in an uncertain economy.
When people see the logo they think that's a place for Italian-American food.
Originally the logo looked like this.
But was then changed, the company dropped 'the' added grapes and in small print wrote Italian Restaurant, that way it is clearly understood what this place is.
Top 3 Competitors.
New competitors are Panera and Chipolte.
Competitive advantage and leadership.
A leading presence in the U.S. with over 700 restaurants.
A genuine effort towards guest delight, taking negative feedback, learning from it and constructing positive results.
Introducing new entree's, appetizers and promotions.
The CEO of Darden is Clarence Otis, Jr. and the President of Olive Garden is David George. Both men have exceptional accomplishments and are transformative leaders. Transformative because they have taken a profitable business and expanded it around the world and are working to make the brand vibrant and relevant.
Currently Olive Garden has 3.6 Billion in Sales (Darden.com)
Structure is centralized.
Work environment is friendly and safe.
There are 7 principles that the company has.
1. We are committed to open, honest communication, mutual respect and strong teamwork.
2. We are clear on each individual's role, accountabilities and key performance measures.
3. We do not compromise standards in selection, training and job performance.
4. In the process of making a change, we seek the opinions of those closest to the action, listen and value their ideas.
5. Everyone should expect regular, on-going training opportunities to sharpen and advance their skills.
6. When accountabilities are not being met, we act quickly.
7. We will achieve the results and share our successes.
Yes! The reason is that Olive Garden knows why they do what they do. The how and the what are also understood. But as Simon Sinek explained the 'why' is the key to the Golden Circle. (TED.com)
I chose this company because I work here and know this company.
Callisto.ggrsv.com (SWOT report)