Question One:
1. Hajj’s Approach to Found and Scale
Cravia Inc. was established in 2001 and headquartered in Dubai, with an aim to “ be a world-class organisation, focused on, dedicated to , and passionate about food and hospitality”.Cravia Inc. runs numerous restaurant chains offering food like appetizers, wraps, burgers, salads, and fries. The organization has grown speedy in the region during the last few years and now has above 1500 employees spread in nearby 85 outlets, and has franchised brands like Cinnabon ,Seattle’s Best Coffee, Zaatar w Zeit , and most recently Five Guys for Saudi Arabia and Bahrain. Moreover, it has established its own brand, the Steak Bar, and created firm roots across regions of UAE and Saudi Arabia.
Patently,
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Since the food chain already has sufficient experience and resources to run business effectively, the start-up was a noble idea because it took advantage of the existing strengths to grow into a successful restaurant. It follows a horizontal diversification approach to building a brand that customers had not seen before. Seemingly, the existence of The Steak Bar was a sign that Cravia had now fully-fledged and could now stand on its feet regardless of the volatile market conditions. Due to its high profile positioning, The Steak Bar was comparatively pricier that the other franchises owned by Cravia; but fortunately, it attracted the right clients and was a success (Applegate & Norris 2016). The restaurant relied on the experience of an American executive to grow and expand into other areas within a very short period. Despite a few instabilities and turbulences during the 2008 financial crisis, Cravia has taken many scholars, businesspersons, and financiers by storm due to its remarkable growth …show more content…
The development of the world’s largest airline terminal was an impeccable example. The Sheikh’s forceful strategies targeted at turning Dubai into a global business hub were almost yielding fruits by 1970s, as Dubai’s population has grown rapidly to make the city one of the most populous business hubs in the world. The city’s population grew rapidly from the 1960s to 1980s, thanks to Sheikh’s good economic development strategies that expanded the city. Applegate and Norris (2016) assert that by 2014 the city had over 2 million residents. A good population is favourable for the success of businesses, especially the type of businesses that depend on local customers. Further, the larger United Arab Emirates has over 8 million people, making it favourable for business,