Friar Tucker’s Strategy
Friar Tucker International’s CEO, Ricardo Bellini, feels the company is poised to enhance its position in the hospitality industry. In an attempt to streamline the project selection process at FTI, CEO Ricardo Bellini, set up a project selection committee to determine which projects are in alignment with the corporate strategy and should be considered for implementation. The Galleria Project was the one chosen by the project selection committee due to its consistency with the organization’s corporate strategy. The Galleria project will contribute added-value to firm’s already established prominence in the entertainment hospitality arena.
Friar Tucker International (FTI) is a hospitality services chain which manages 35 entertainment and culinary establishments. FTI’s corporate vision is to be among the top ten hospitality service provider in the family entertainment business, through innovation and high quality service. The company’s mission to attract new customers and more visitors through food and entertainment for the entire family (University of Phoenix, 2007). FTI has identified three key focus areas over the next three years as: to expand into the corporate entertainment segment, establish a larger presence in the entertainment hospitality market and consolidate its culinary business by focusing on specialized cuisine. With these goals in mind, the Galleria project fits in well with FTI’s corporate strategy.
The Galleria Project (GP) was visualized to be an entertainment hub consisting of sporting facilities, cafés, a multi-screen theater, fitness center, and shopping mall (University of Phoenix, 2007). Galleria contributes to the corporate vision of promoting family entertainment and the focus of increasing FTI’s presence in the entertainment hospitality segment.
Galleria was chosen based on its ability to satisfy the critical success factors deemed by the management at FTI for the purposes of project selection. The critical...