Benchmarking Firm Capabilities to Turn Undesirable Financial Performance Around in the U.S. Restaurant Industry
Abstract
This study is designed to address the issue of benchmarking firm capabilities to turn undesirable financial performance around in the U.S. restaurant industry. Following the three-stage learning process of benchmarking, this study finds that if a restaurant firm experiences value loss for the first year after a reasonable stable or well-performing time period, its strategic foci should be placed upon sales and liquidity boosting firm capabilities while holding back cautiously capital expenditure projects and the desire to raise leverage.
This paper has been withdrawn.