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**THE INNOVATIVE COMPETITIVE ADVANTAGE (EATSA (Strategy (the menu on a…
**THE INNOVATIVE COMPETITIVE ADVANTAGE
LITTLE BAY RESTAURANT
Strategy
the promotion: allowed the customers to decide the value of product
local restaurant
follow a month long pricing strategy
Result
received expansive media attention
served just under 10,000 customers in the month of February
customers on average paid more than what restaurant would have charged (>30%)
Opportunity
did during the recession in 2009.
customers were seeking value
EATSA
Result
Increase profits for restaurants
Minimizing labor costs
Opportunity
In the restaurant industry, employee salaries account for approximately 30% of the total cost of conducting business
Workers’ increasing salaries in San Francisco (minimum wage to $15)
Strategy
the menu on a flat-screen monitor
Use the virtual iPad screen to order
adoption of technology to replace for employees
A quick-service restaurant serving healthy fast food
Target
The busy workers in the financial district who currently do not pay much attention to healthy eating
Open two more locations including Los Angeles in the upcoming months
INTRODUCTION
Innovation requires the ability to understand and to read the market and the consumers
Innovation is the introduction of something new or a new idea, method, or device
DeMaria, 2013
The challenge of innovation is recognizing opportunities for the implementation of novel ideas combined with the willingness to accept that those innovations may result in failure
VALUE CREATION
Little Bay: Creating a culture of normative behavior
Eatsa: Adopt technology to increase productivity productivity and save costs
Built value for both the customers and the organization.