Practice 3 – content on lesson 2

 First HRC opened on June 14, 1971 in London  1982 began with the global expansion  1990 The Rank group acquired Mecca and other HRC from US or Canada  March 2007, the Seminole Tribe of Florida acquired Hard Rock International, Inc. and other related entities from The Rank Group, Plc.

 130 venues  Over 40 countries  pieces of memorabilia collection  Showing history of Rock ´n´ Roll

 Strengths  Weaknesses  Opportunities  Threats

 Important for analyzing external and internal factors for faster achieving the objectives  Internal factors – strengths and weaknesses  External factors – opportunities and threats

 One of the most recognized brands in the world  Different types of menu between countries (specialised on their social norms)

 Lack of customers - mostly specialized on tourists  Usually located in tourist locations or resorts and not in big cities

 Good positions on the global market  Franchises can be more developed into other locations

 global strategy means special consideration on threats  Political situation changing in the countries  Currency changes  Social norms  Competition of new entrants on the market

What is the difference? Mission – where is the company going and what are its objectives Strategy – how is it going to achieve the goals

 Incorporate a unique “experience” into its operations  Provide not only a custom meal from the menu for the customers  Provide events that include a unique visual and sound experience

 Differentiation  Competing on cost  Quick response  Position a firm occupies against its competitors  According to Michael Porter there are 3 methods for creating it:

‘At Hard Rock, the different game is the experience game.’ - Professor C. Markides At Hard Rock, the different game is the experience game.