Study on the Impact of Diversified Service Strategy: Case of Haidilao

Abstract

In today's competitive market environment, it has become a trend for enterprises to seek diversified development. The diversification strategy aims to have a positive impact by expanding business areas and services to reduce corporate risks and improve market competitiveness. This paper takes Haidilao as an example to study the effect of the implementation of diversified service strategy from 2017 to 2023. Besides, the research shows that diversified service strategy has improved the financial performance of Haidilao enterprises. However, through comprehensive analysis by SWOT method, it can be seen that the implementation of diversification strategy is not smooth sailing, and many enterprises are faced with various challenges in the practice process, such as increased management difficulty, dispersed resources, and difficult to guarantee service quality. The study provides relevant theoretical reference and decision-making information for the catering industry. Through the implementation of diversified service strategy, Haidilao has achieved results in improving financial performance and market competitiveness, but it also faces problems such as cost increase, core business may be neglected, and service quality is difficult to control uniformly. Therefore, the optimization scheme of optimize staff allocation, strengthen staff training)and optimize resource allocation is proposed in this paper. This successful experience has important guiding significance and reference value for the whole catering industry in the aspects of business development, brand building, customer management and strategic planning.