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I have a paper I need help editing. Its for my strategic management class 4335. We were to act as consultants and evaluate Brinker International.;Attachment Preview;Brinker International.docx Download Attachment;Brinker International;Consultants;Jessica Fudge;Matthew Loid;Daniel Schuster;Bianca Saldana;November 11, 2014;Table of Contents;1. Introduction;1. Brief Introduction;2. Mission Statement Introduction;2. Financial Analysis;1. Financial Introduction;2. Statement Analysis;3. Ratio Analysis;4. Financial Conclusion;2. Strategic Advantage Profile;1. Strengths;2. Weaknesses;2. Threats and Opportunity profile;1. Opportunities;2. Threats;2. Salient Issue for the Organization;3. Strategic Alternatives;1. Option 1;2. Option 2;3. Option 3;2.;3.;1.;2.;3.;Recommendation;Implementation;A discussion of the program to be implemented.;The budget for the implementation.;The assessment criteria for the proposed implementation.;1. Introduction;Brinker International Inc. is a multinational restaurant brand headquartered in;Dallas, Texas. Over the years Brinker has owned a multitude of restaurants including On;The Border Mexican Grill, Romano's Macaroni Grill, Rockfish Seafood,Corner Bakery;Big Bowl Asian Kitchen, Taco Cabana, Chilis Grill and Bar, and Maggianos Little Italy.;Brinker International Inc. is one of the worlds leading casual dining restaurant;companies in todays markets. As of the 2014 fiscal year, Brinker International consists of;two major restaurant brands, Chilis Grill & Bar and Maggianos Little Italy.;Brinker International owns more than 1,600 restaurants in 33 countries. They also;have franchise opportunities for people interested in opening their own Chilis or;Maggianos. Overall, Brinker tends to let the franchisees run themselves, but they do set;certain standards that must be met in order to continue operating under the brand names.;Brinker International collects initial franchise fees and continued royalties from their;franchise partners. As of lately, Brinker has seen rapid franchise growth domestically and;internationally for both brands. This growth accounts for additional royalties that can be;used for test kitchens, test menus and additional marketing.;Founded in 1975, when the first Chilis Grill & Bar opened in Dallas, the;restaurant quickly swelled to 23 restaurants by 1983. This rapid growth and unique;business model caught the eye of Norman Brinker, a restaurant industry icon, who bought;the company and took it public the same year. Since going public, the company has seen;its share of ups and downs, but overall has become a major player in the casual-dining;industry.;Brinker International uses a divisional structure to carry out business operations.;Wyman Roberts took over as current CEO in 2013 for Doug Brooks. Wyman Roberts was;the President of Chilis at that time and still holds the title. Brinker is set up with the CEO;and other c-level executives in top positions, with two divisions below them, with the two;divisions consisting of Chilis and Maggiano's. Each of the Chilis and Maggiano's brands;have separate teams that support themselves. These brands provide their own operations;finance, franchise, marketing, and culinary departments. While this could seem;inefficient, the purpose behind this separation is to allow the brands to focus on the each;individual identity that is trying to be developed at Chilis and Maggianos. Brinker does;however utilize shared infrastructure for other services including accounting, information;technology, purchasing, legal, and restaurant development.;While Chilis original menu simply consisted of homemade chilli, Burgers, and;tacos. However, the menu has changed throughout the years to best fit the tastes of the;casual-dining consumer to maintain a competitive position in the industry. Today, Chilis;Grill & Bars menu is composed of a variety of Southwestern-inspired, classic American;and international tastes.The menu consist of burgers, fajitas, and their signature Baby;Back Ribs. It also includes a variety of appetizers, sandwiches and salads. Chilis is;quipped with a full-service bar that offers some of the worlds leading beverage brands.;Chilis now offers a Chilis at home option which includes a variety of frozen;entrees that are available at supermarkets. (Morrison, M. 2014) The new frozen entrees;do not consist of Chilis traditional menu items. Instead, they are more of your typical;frozen grocery options, but with the bold, southwestern flavors that Chilis is reputable;for. The new product line launched in June 2014 ("About Us") and includes multi-serve;single serve, family size, and snack/appetizers options. Each has a variety of different;options, such as, Bacon Mac N Cheese, Cajun-Style Chicken Alfredo, and;Southwestern-Style Potato Skins. ("Your Frozen Aisle Will Never Be the Same!");Maggianos Little Italy opened its first restaurant in 1991 in Chicagos River;North neighborhood by Rich Melmans Lettuce Entertain You Enterprises. The brand was;acquired by Brinker International in 1995. Maggianos Little Italy is also an American;casual-dining restaurant chain like Chilis, but specializing in both classic and;contemporary Italian-American Cuisine. (Chernoff, S. 2013);Maggianos menu consist of made from scratch pastas, salads, prime steaks, fresh;seafood, regular chef specialty items, and desserts. Maggianos also provides gluten-free;items on their menu as a differentiation strategy. Their dining style can be purchased in;single sized portions and also as a full multi-course family style meals. Their beverage;menu consists of a large selection of wines from acclaimed vintners. Maggianos has a;private wine label, Ruffino Salute Amico, which is only available in their restaurants. It is;a Cabernet Sauvignon and Sangiovese blend that is meant to pair with many of;Maggianos entrees. This wine is produced and bottled by the Ruffino winery in Tuscany;Italy.;The restaurant industry that Brinker helps occupy is very saturated with many;brands, conglomerates, and competitors. Brinker ranks highly in annual revenue;compared to others in the industry, but there is still room to grow and improve. Their;biggest direct competition comes from Darden Restaurants, Inc. who owns seven;restaurant brands including Longhorn Steakhouse, The Olive Garden, and Yard House.;Darden Restaurants bring in more than double the annual revenue of Brinker;International, with more than three times the number of restaurant brands. Darden;currently operates both domestic and international restaurants. Another direct competitor;for Brinker is DineEquity. They are very similar to Brinker in that their portfolio consists;of only two restaurant brands, IHOP and Applebee's. Even with the stiff competition from;Darden and DinEquity, Brinker continues to stay competitive in the casual-dining;industry by implementing a multitude of advanced strategic planning and strategic;management practices.;Brinker Internationals mission statement is Serving the world a great taste of life;through the power of welcome. Brinkers mission statement is a little vague and does;not clarify the reason they do business. Brinker does imply that they are a service brand;with some of the keywords being used, such as serving and taste, but do not give much;emphasis on why they exist as a company. Brinker could do a better job of implying they;are a restaurant brand name and what their purpose is to their customers in their mission;statement. We believe Brinker should have a mission statement of Serving the world the;best flavors with a warm welcome and a smile. Changing Binkers mission statement;would help clearly define Brinkers strategic vision, defining the strategic focuses and;future direction.;II.;Financial analysis;As part of a historical assessment of Brinker International, we were able to look at;financial statements to better understand where Brinker International stands as a;company. The tables used were the Income Statement, Balance Sheet, Common-Size;Income Statement, Projected Income Statement, and a financial ratio table. Special;analysis of certain tables were performed including a three-year growth rate on the;Income Statement and a vertical analysis in relation to revenue on the Common-Size;Income Statement. Also developed was a competitor comparison on the Common-Size;Income Statement and the Ratio Table between Brinker and Darden Restaurants Inc.;These information for these financial statements were pulled from Mergent Online, an;online database that compiles financial statements and related information regarding;public companies worldwide. Mergent Online provided the information for the Income;Statement, Balance Sheet, Common-Size Income Statement, Projected Income Statement;and the financial ratio table for both Brinker and Darden. The financial statements;analyzed consisted of information reported by Brinker for fiscal years 2012 through;2014. When comparing the Brinker financials and ratios with Darden, only the most;recent complete fiscal year for each company was analyzed.;Through an analysis of the Income Statement, Brinker International seems to be;on the right track financially. Brinker has held steady total revenue increases over the past;three years. Along with an annual increase in revenue, their direct costs have also;increased. This is due to an increase in openings of new restaurants domestically and;internationally. Even though their costs have increased, their total revenue has increased;at nearly double the rate, resulting a in a steady increase in gross profit. Another area of;interest is the change in gains on sale of assets. Brinker had an 81.61% decrease in this;area of income. Throughout the previous years, Brinker International was in the process;of selling off restaurant brands that they had previously owned and operated. The selling;of these brands gave a large increase in income for the previous years, but very little;money came in through the sale of assets in 2014. An area with an abnormal increase in;expenses from year to year is in the other operating expenses row. This expense had over;a 2000% increase from the previous years. This is due to an overhaul of the Chilis;restaurant with a reimaging campaign by management. Overall, Brinker has a positive;three year growth for their net income.;An analysis of the Common Sized Income Statement shows very steady results;over the three years presented. Their direct costs, gross profit, operating income, and net;income all stay within one percentage point to previous years. There was a steady decline;though in gross profit percentage in relation to total revenue throughout the three years;resulting in an increase in gross profit percentage in relation to total revenue. When;comparing Brinker and Darden, both companies tend to have similar ratios, but each has;its own strengths and weaknesses. Darden has a higher gross profit percentage based on;total income than Brinker, which means that Darden has managed to drive their costs;down more efficiently than Brinker. Brinkers cost percentage has steadily gone down;from year to year, but they still have room to improve. Darden most likely has the;advantage in this category due to the number of restaurant brands that they own. This has;allowed Darden to increase their revenue without having to increase their costs due to the;ability of sharing of common goods and services between the brands. One area of;advantage for Brinker International in relation to Darden is their General and;Administrative Expenses. These expenses are only half of the percentage points in;comparison to Darden. Brinker has structured all their brands to use the same;infrastructure for many of the departments falling under this category, allowing them to;greatly reduce their expenses. Overall, Brinkers net income in relation to sales revenue;compared to Darden is about one percentage point higher. Both are around the industry;average.;The next financial analysis done was a two-year projection of the income;statement. This analysis was beneficial to see how the company is trending for the;coming years. Brinker International has a positive trend in all aspects of the income;statement. This is fairly common amongst a healthy growing company. While cost may;be trending upward, as long as revenue is growing at a faster rate, the company is doing;well. Brinker is projected to increase their revenue about $80 million and direct costs by;about $30 million. This will result in a just under a ten percent increase in gross profit for;the company and an increase of about $2 million in operating income.;When looking at the balance sheet, one is able to view the assets, liabilities, and;equity of Brinker International in a very simplistic sheet. Brinker has managed to slowly;increase their total assets year by year even through the sales of previous brands. This has;been a slow increase of about $54 million over three years, or about a four percent;increase. There was not one specific asset category that stood out as the reason for the;increase, but there was small increases in intangible assets, property plant and equipment;and receivables. These increases were pretty consistent over the three years. When;looking at the liabilities, there has been a drastic increase year after year. While total;assets were increasing by about four percent over the three years, total liabilities;increased by $301 million, or nearly 28 percent. Brinker has taken on a significant;portion of debt, primarily residing in long-term investments. Brinkers long-term debt;and leases increased by $242 million over the past three years, along with smaller;increase of $55 million in current liabilities. This high increase in short and long term;debt along with the significantly lower increase of total assets has had a negative impact;on the total equity of the company. There has been about an 80 percent decrease in total;equity for Brinker over the past three years, with it dropping around $46 million in the;past year alone. Through this increase in debt and reduction in total equity, Brinker has;managed to continually increase their retained earnings by just under $200 million in the;past three years, an increase of about 27%.;When considering the ratio tables, there are four categories to look at. First, the;profitability ratios were analyzed. Brinker International has maintained a steady return on;assets over the past three years, while having an overall positive trend. This is an area of;success over their primary competitor of Darden, with almost triple the ROA percent in;fiscal year 2014. Looking at return on equity percentages, Brinker has had unusual;percentage growth over the past three years. They have increased their return on equity;from 40.51% to 145.41%. This is most likely due to the increase in liabilities over the;past three years. As Brinker has consistently increased their income, they have also;significantly increased their liabilities. This increase in liabilities has resulted in a;decrease in equity, resulting in a huge jump in ROE. This is not necessarily a bad thing;seeing as Brinkers income has continually increased. As their income increases, so will;their attractiveness to investors, resulting in an increase in equity and a drop in the ROE;back to normal percentages. Another area of strength for Brinker over their competitor is;in their return on investment. Brinker has a 25% ROI compared to Dardens 6% return on;investment. This shows that Brinker is being much more efficient with their individual;investments than their competitor. Brinker is proportionately receiving four times as;much as back per dollar invested than Darden. Another area of efficiency for Brinker is;shown through their revenue per employee. This has increased yearly for the past three;fiscal years, and they have had a greater return per employee than Darden for all of those;years. Brinker received around a 58% greater return per employee than Darden.;The next ratio table that was considered were the liquidity ratios. When looking at;the current ratio, Darden seems to be excelling in comparison to Brinker. Darden has a;much higher ratio, showing its ability to pay off its ability to pay off their current;liabilities with their total assets. Darden has a 1.22 current ratio, which means that they;have more assets than current liabilities, while Brinker has a current ratio of.45, showing;that they have currently have less assets than they do current liabilities. While this could;seem like a true disadvantage to Brinker, these ratios are a little misleading. The quick;ratio shines a little more light on the situation compared to the current ratio. The current;ratio takes all assets of a company and compares them to the current liabilities. This;means that a company would have to completely liquidate all of their assets, including;inventory, equipment, and other things required for day to day operation. This is not a;realistic expectation of a company to pay their current liabilities. The quick ratio;however, removes these elements of assets that a company owns that are difficult to turn;into cash, which would render them useless in paying current liabilities. When comparing;Brinker to Darden with the quick ratio, Brinker comes out with the advantage. Brinker;has a.21 quick ratio as of fiscal year 2014 while Darden has a.11 quick ratio as of fiscal;year 2014. This gives Brinker nearly twice the ability to pay off their current liabilities;without having to completely liquidate the company compared to Darden.;When looking at the Debt to Equity ratio, Brinker has some increasing;weaknesses. Brinker has had a rapid rise over the past three years in their debt to equity;ratio, increasing nearly seven times the amount in 2012 to 2014. While this is a result of a;full makeover of their current brands, this still poses a threat in long term financial;stability. In comparison to their competitor, Darden has remained around a 1.28 debt to;equity ratio, keeping their company much more long term financially stable.;The last ratio table that is considered is the activity ratios. When looking at the;total asset turnover ratio, Brinker has been very consistent over the past three years, while;slowly increasing the turnover. They have a pretty high total asset turnover compared to;others in the industry, especially their competitor, Darden. Brinkers TAT is more than;twice as much as Darden, showing that they are generating more than twice as much;revenue per dollar spent on assets. This shows that Brinker is generating more sales;relative to Darden for each dollar utilized by their assets. Another area of great strength;for Brinker compared to Darden is in inventory turnover. Brinker is replacing their;inventory at a rate that is more than five times as fast as Darden. This means that Brinker;is putting its inventory to use, as opposed to letting it sit and not bringing in a return.;Overall, these are the categories that stick out in regarding the activity ratios compared to;the industry and Darden. Brinker is trending in the right direction through each of these;areas.;When looking at all of the ratios, Brinker seems to be on the right track for long;term financial success. While Brinker could improve in some areas, the balance amongst;the ratios shows good trends. Even with the main concern being a low quick liquidity;ratio, Brinker is generating a high rate of return on assets, equity, and investment;especially in relation to Darden. This shows that they are increasing their debt at a high;rate, but they are still using the money borrowed efficiently and effectively. This is shown;through the greater rate of increase in their assets than their current liabilities. Their;average returns on assets, equity, and investments show that the company has potential;for future financial success, but they are riding the line of safety in this area.;Brinker International is coming out of one transition stage and entering another;financially. Brinker in the late 2000s sold off two restaurant brands and were able to pay;off significant chunks of debt. They then turned around and redesigned their Chilis brand;and introduced new computers at all of their tables, and they went for a redesign in their;Maggiano's brand. This has resulted in a very high debt to assets ratio. They have around;$1.4 billion in liabilities with about $1.5 billion in total assets. This gives the company a.;93 debt/asset ratio. This is not always a bad situation, if they are able to keep their debts;paid. The biggest issue is that this amount of debt results in very low financial flexibility;for the company. If the cashflow of the company ever struggles, then they will very;quickly have trouble paying their debts. In relation to their greatest competitor, Darden;Restaurants Inc., they are showing positive signs. Darden has more brands and;restaurants, resulting in higher overall revenue, but Brinker proportionately is competing;well. They have a greater net income percentage than Darden in relation to total revenue.;Brinkers costs are only slightly higher than Darden, even with a significantly lower;economy of scale. Their rate of return on assets, equity, and investments are much higher;than Darden, showing efficient use of their assets, debt, and investments. Brinker is also;more efficient in turning over their inventory and other assets compared to Darden.;Overall, Brinker International is running a much more efficient operation than that of;Darden Restaurants Inc. If Brinkers new image for their restaurants have the financial;impact that executives are hoping for, then they have a bright future ahead of them.;However, as long term debt becomes more current and needed to be paid, cash flow must;continue to increase to be able to keep their debtors satisfied.;1. Overall conclusions regarding the financial performance of the firm.;Sect III Strategic Advantage Profile;Strengths;Chilis being an international brand and operating in multiple markets worldwide;is a strength for Brinker by providing resiliency during unfavorable economic conditions.;Brinker is one of the leading restaurants of casual-dining in the world, consisting of over;1,600 restaurants ran by more than 100,000 employees across 33 countries and two;territories (Brinker.) If the American market declines into a recession, the brand wouldnt;be compromised as long as restaurants in foreign locations are able to uphold the;organization. This gives Brinker a competitive advantage over other brands who are not;located internationally because operating restaurants in a multitude of international;locations minimizes the risk of losing revenue in the event that one of the economic;markets crashes in a particular country.;Commitment to reflecting the broad range of lifestyles to meet the diverse needs;of their guests gives Brinker the competitive advantage to create brand loyalty and;recognition in all geographic areas of operation. The culture at Brinker encourages;insights, experiences, and ideas inspired by customers and employees from a broad range;of cultures that stimulate strengths to create an innovative environment that make their;guests feel special to provide an exceptional dining experience like nowhere else.;Community awareness activities ensure that each restaurant assimilates into the local;culture by not only getting their brand names out there, but also creating opportunities for;professional development for the team members to become leaders in their community;(Sourced from Brinker website). Core values such as diversity and inclusion welcomes;perspectives from all levels within the organization and is about taking action to sustain;this competitive advantage. As a result, Brinker continues to successfully grow;internationally, opening 32 new international restaurants in 2014. Brinker continues this;rapid international growth plan for 35-39 new restaurants internationally in 2015. (Cite;brinkers website-Jessicas printout);Franchise development and joint ventures secure a benefit where the;parent company endures trial and error to reduce the expense of their franchises. Brinker;is able to leverage their franchises buying power by negotiating prices on behalf of;themselves as a larger corporation. This competitive advantage is how the company is;able to encourage growth and penetrate new markets quickly in a multitude of locations;simultaneously (Brinker.);According to David Palmer, an analyst with RBC Capital Markets, Brinker stands;to be well positioned despite the influence of commodity costs on food inflation. Their;costs are expected to be flat due to their security of 46% of commodities. Furthermore;Brinker maintains low prices by remaining aware of margins and price elasticity. As a;result, flat costs are to be expected year after year as their competitors become;increasingly exposed to rising food costs (Ruggles.) This strategy is nearly identical to;that of Southwest Airlines, a company who locked in their price of fuel to avoid;inevitable inflation. Although gas prices went up, the airlines costs remained low;enabling them to continue offering lower ticket prices than their competitors and;sustaining a competitive advantage.;These key strengths of international brand recognition, diversification in;restaurant locations and strategy to create value for the customer in keeping costs low and;offering a differentiated environment with the ability to pursue global expansion through;a franchising business model configure Brinkers core competencies that establish their;competitive advantage.;1. Weaknesses- listing of weaknesses (each in full paragraph form) with competitive;disadvantage(s) resulting from the weakness (IN ORDER OF PRIORITY);Brinker International continues to stay competitive in the casual dining sector but;there are weaknesses that need to be addressed in order to sustain their rapid growth;business model into international markets. Weaknesses include a narrow brand portfolio;and exponential debt.;Brinker currently profits from only two restaurants, Maggianos and Chilis.;During the past decade, the company has sold many of their chains such as On The;Border and Macaroni Grill, while focusing the majority of their efforts towards Chilis;supplemented with intentions to expand their Maggianos brand, which has seen minimal;growth in the past decade.;Brinker International has higher costs than their competition because equipment;upgrades and kitchen renovations within the Chilis brands have accumulated a large;amount of debt. In 2012, their long term debt increased 32.7%. Complications of;increasing debt year after year produces limitations on financial flexibility that will;ultimately challenge the company to react to changes, borrow, and seek new;opportunities. (Brinker);Sect IV;Threats and Opportunity profile;1. Opportunities- list of opportunities (each in full paragraph from) that the firm could/may;take advantage of given their core competencies, resources and/or other factors (IN ORDER;OF PRIORITY);The new age of digital dining gives Brinker the opportunity to remain a;leader in restaurant industry by utilizing convenience and speed to maximize sales;through technology while also reducing labor and food costs. Austen Mulinder, Ziosks;chief executive, proclaimed that more money is made when diners can order instantly and;get their food faster. Instead of waiting for a servers assistance, it is now possible for;customers to order directly from a tablet at your table. The Ziosk even conducts credit;card payments at the table, which in turn boost customer satisfaction by reducing the;amount of time the customer waits for their bill. The Ziosk also reduces labor costs by;allowing the waiters and waitresses to focus more on food preparation and expediting the;orders rather than having them talk to the customers about all the menu options.;(Ruggless) For example, restaurants such as Buffalo Wild Wings has invested in;technology that lowered their food and labor costs to 6% lower than Brinkers current;costs.;Further upgrades in equipment establish the opportunity to tap into new markets;by widening their array of product offerings by taking part in new trends. One of their;recently added machines enabled a new product line of flatbreads to be introduced and;differentiated by incorporating their own blend of flavors. The core Chilis concept;continues to gain share in a modestly declining casual-dining market, and margins;continue to rise on positive menu mix changes, Raymond James said (Ruggless.);Brinker has plans to strengthen the position of their restaurant, Maggiano's, in the casualplus dining industry by contributing new menu items to their offerings. Taking advantage;towards these opportunities, such as the current movement towards healthier eating;indirectly enable the organization to keep their costs down. Deviation from expensive;food sources in the direction towards offering vegetarian menu options would be much;cheaper than deriving the majority of their product offerings from expensive red meat.;Chilis menu adaptations have already began incorporating cheaper southwestern style;options that will eventually instigate lower food costs. Kitchen upgrades coupled with the;incorporation of table tablets help reduce labor and operating costs across the board while;maintaining high levels of customer satisfaction (Gasparro, A.);The opportunity to take advantage of their diversity and inclusion powered culture;to tap into markets all over the world by utilizing their current business model of;expansion through franchising and joint ventures. Encourage community outreach at;existing restaurants operating in foreign countries to enhance brand awareness and;empower team members to become leaders in their communities. Operating from an;array of varying cultural perspectives will maximize the effectiveness of their efforts in;gaining access to foreign markets.;B. threats- list of threats that could/may affect the firm financial or market;performance and/or reduce the value of the organization to constituents;There is a growing desire in the millennial generation for fast-casual restaurants.;These restaurants usually have a higher complexity of flavors than your typical fast-food;chain and keep their prices lower than the casual-dining restaurants. Restaurants like;Chipotle, Five Guys Burgers and Fries, and Panera Bread are quickly becoming the go-to;for the new generation of consumers. These fast-casual restaurants pose a real threat to;Brinker International because they focus on one single menu item category and perfect it;with a great deal of care and thought into each ingredient and how it works with their;particular food concept. Consumers want these faster, flavorful, and more affordable;options. Brinker has started implementing Chilis Too restaurants, a fast-casual branch of;the Chilis franchise, but today Chilis Too only exist in airports and shopping malls and;does not really compete in the market.;Another threat that Brinker faces is the theory that the casual-dining category is in;its mature or saturation stage of the Business Life Cycle. Restaurants like Applebees;TGI Fridays, and Olive Garden along with Chilis and Maggianos have saturated the;market throughout the 90s and 2000s in America. The casual-dining category has been;and will continue to be pretty much a flat, zero-sum game Doolin said, because the large;market of casual diners begin to see all the restaurants as the same (Ruggless.) For this;reason, Brinker has only opened a few restaurants in The United States in the past couple;years while focusing expansion overseas. Brinker needs to continue to focus their efforts;not only on overseas expansion, but also on innovation domestically to address these;threats. This coupled with the emerging market of fast-casual restaurants pose a serious;threat to Brinker.;Sect V;Salient Issue for Brinker International (at least 1 page);As a large international company, Brinker International has many places;where they can sharpen their strategies to continue success in the restaurant;industry. Through environmental scanning, we have identified one issue that;Brinker must address that should take precedent over any other issue. The salient;issue at Brinker is that the casual-dining market is in a stage of maturation, and;the fast-casual market is penetrating the casual-dining market share.;Brinker International needs to be aware of the emerging market of the fastcasual restaurants, such as Chipotle and Panera Bread. Consumers are flocking to;fast-casual chains because they offer high quality food and value, the same as;casual-dining, but at a much fas

 

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