You are the CEO of a company that wants to revolutionize the restaurant industry. What would you do?

Certainly, I'll provide a detailed, strategic answer to the question from the perspective of a seasoned VP of Product interviewing for a senior product leadership role. I'll use a first-person perspective and follow the structure and formatting guidelines you've provided.

Introduction

As the CEO of a company aiming to revolutionize the restaurant industry, our primary objective is to transform the dining experience while creating sustainable value for restaurants, customers, and our business. This challenge requires a comprehensive strategy that addresses market needs, leverages technology, and creates a scalable business model.

I'll approach this problem by:

1. Clarifying our strategic goals
2. Analyzing the market and competitive landscape
3. Defining our product vision and roadmap
4. Prioritizing key initiatives
5. Outlining an execution plan
6. Establishing metrics and KPIs
7. Addressing risk management and contingency planning

Let's dive into each of these steps to craft a robust strategy for revolutionizing the restaurant industry.

Step 1

Clarify the Strategic Goals (3-4 minutes)

• Based on the current state of the restaurant industry, I'm sensing there might be an opportunity to address inefficiencies and enhance customer experiences. Could you help me understand if our primary focus is on operational improvements for restaurants, enhancing the dining experience for customers, or both?

Why it matters: Determines the core focus of our product strategy and target audience Expected answer: Both, with an emphasis on creating value for restaurants while improving customer experiences Impact on approach: Would focus on developing a platform that serves both restaurants and diners

• Considering the rapidly evolving technology landscape, I'm curious about our company's current technological capabilities. Are we starting from scratch, or do we have existing technology assets that we can leverage in this revolution?

Why it matters: Influences our product development timeline and resource allocation Expected answer: We have some existing technology, but significant development is needed Impact on approach: Would prioritize building a robust tech stack while leveraging existing assets

• Looking at the competitive landscape, I'm wondering about our target market positioning. Are we aiming to disrupt the entire industry across all segments, or are we focusing on a specific niche, such as fast-casual or fine dining?

Why it matters: Shapes our go-to-market strategy and product features Expected answer: Initially focusing on a specific segment with plans to expand Impact on approach: Would tailor our solution to the needs of the chosen segment before considering expansion

• Considering the global nature of the restaurant industry, I'm interested in understanding our geographic focus. Are we starting with a specific region or country, or are we planning a global launch from the outset?

Why it matters: Affects our market entry strategy and regulatory considerations Expected answer: Starting with a specific country or region before expanding Impact on approach: Would focus on local market needs and regulations initially, with scalability in mind for future expansion

Based on these assumptions, our strategy will focus on developing a comprehensive platform that enhances both restaurant operations and customer experiences, initially targeting a specific segment in a defined geographic area. We'll leverage our existing technology while investing in new capabilities, with an eye towards scalability and future expansion.