...2011 ANNUAL REPORT Directors, Officers, Corporate Information Board of Directors Nelson Peltz 2,4,6 Chairman, The Wendy’s Company Chief Executive Officer and Founding Partner, Trian Fund Management, L.P . Executive Officers Emil J. Brolick President and Chief Executive Officer Corporate Office (Dublin Restaurant Support Center) The Wendy’s Company One Dave Thomas Blvd. Dublin, Ohio 43017 (614) 764-3100 www.aboutwendys.com Stephen E. Hare Senior Vice President and Chief Financial Officer Peter W. May 2,4,6 Vice Chairman, The Wendy’s Company President and Founding Partner, Trian Fund Management, L.P . Darrell G. van Ligten President, International Stockholder Information Transfer Agent and Registrar If you are a stockholder of record and require assistance with your account, such as a change of address or change in registration, please contact: American Stock Transfer & Trust Company 59 Maiden Lane Plaza Level New York, NY 10038 Toll free: (877) 681-8121 or (718) 921-8200 Fax: (718) 236-2641 E-mail: info@amstock.com www.amstock.com Emil J. Brolick 2,6 John D. Barker Senior Vice President and Chief Communications Officer President and Chief Executive Officer, The Wendy’s Company Clive Chajet 3,6,8 Chairman, Chajet Consultancy, L.L.C. Steven B. Graham Senior Vice President and Chief Accounting Officer Edward P. Garden Chief Investment Officer and Founding Partner, Trian Fund Management, L.P . R. Scott Toop Senior Vice President...
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...Business Strategy Analysis: McDonald’s Corporation is the world’s largest fast-food chain in the restaurant industry, serving on average 69 million customers a day. Their stores are corporate or franchised owned, with franchising being highly beneficial to their success by producing 32% of their total revenue. McDonald’s is in a highly competitive industry with market saturation because of low barriers to enter. The industry competes on price, quality, and service. McDonald’s faces competition with full-service restaurants and fast-food restaurants in the area. Their main competitors are Burger King, YUM! Brands, and Wendy’s International. The industry has faced scrutiny on the quality of their products because of a more health concise society. McDonald’s strategy for success is based off of cost efficiency, product development, and marketing and promotions. These factors help form the strong brand that McDonald’s is today. Since their establishment with Ray Kroc, they have focused on driving their success from the 3-legged stool principal representing: McDonald’s employees, the owner/operators, and their suppliers. The stool needs all three to have a good balance in order to function, without either one of the legs success cannot be achieved. All three of them work together to create new products, to reduce costs, and to achieve outstanding customer service. There is commitment in helping all three legs of the stool to succeed. The suppliers play a key role by providing high...
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...FOUNDATION Sponsored by: By Barbara Beshel CHAPTER 1 1. 2. 3. 4. 5. An Introduction to Franchising What is a franchise? What are common franchise terms? What are the alternatives to franchising? What are the advantages and disadvantages of owning a franchise? What are the legal issues in franchising? WHAT IS A FRANCHISE? A franchise is the agreement or license between two legally independent parties which gives: • a person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor) • the franchisee the right to market a product or service using the operating methods of the franchisor • the franchisee the obligation to pay the franchisor fees for these rights • the franchisor the obligation to provide rights and support to franchisees FRANCHISE AGREEMENT FRANCHISOR FRANCHISEE Owns trademark or trade name Uses trademark or trade name Provides support: • (sometimes) financing • advertising and marketing • training Expands business with franchisors support Receives Fees Pays Fees THE IFA EDUCATIONAL FOUNDATION AN INTRODUCTION TO FRANCHISING 5 TYPES OF FRANCHISES PRODUCT DISTRIBUTION Product distribution franchises simply sell the franchisor’s...
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...In order to achieve their mission, they sought out the best ingredients: paid top price for meat, bought the most expensive bacon and used peanut oil to cook their burgers. The family drove the direct material costs higher unlike any other burger chain, but spent zero dollars on marketing or advertising. They believe that the best salesman is the customer and as Jerry Murrell’s says “treat that person right, he’ll walk out the door and sell for you.” Five Guys also differentiates itself with the crew system they have developed for their employees that is tied to a bonus pay based on performance. Every crewmember is well aware of his/her responsibilities and knows that the crew’s incentive pay will decrease or increase according to how well he/she fulfills her duties shown by the rankings they receive from weekly audits. This system not only makes every employee position valuable, but also creates a family atmosphere among the workers. Five Guys paid out $7 million as an incentive pay to all the crews worldwide in 2011 and again the reason they are able to provide such a large amount and afford very frequent auditing is due to their...
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... Outline Page Valuation overview 1 DCF valuation 7 47 Comparable transactions analysis 59 LBO analysis 68 Appendix VALUATI O N Comparable companies analysis 74 VAIDYA NATHAN 1 Overview “Price is what you pay. Value is what you get” VALUATI O N O V E R VI EW Value ! Price Do not confuse Price and Value. They are not the same If the Price paid is less than the Value derived, it’s a good investment VAIDYA NATHAN 2 Overview Why valuation is important? Divestitures Acquisitions How much should we pay to buy the company? How much should we sell our company/division for? Fairness opinions Research Is the price offered for our company/division fair (from a financial point of view)? Should our clients buy, sell or hold positions in a given security? Valuation Public equity offerings Hostile defense For how much should we sell our company/division in the public market? Is our company undervalued/vulnerable to a raider VALUATI O N O V E R VI EW Debt offerings New business presentations Various applications What is the underlying value of the business/assets against which debt is being issued? VAIDYA NATHAN 3 Overview The valuation process Determining a final valuation recommendation is a process of triangulation using insight from each of the relevant valuation methodologies (1) Discounted Cash Flow VALUATI O N O V E R...
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...Kelly | McGowen | Williams C en ga Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States ge Le ar ni ng BUSN BUSN BUSN 6, 6th Edition Kelly | McGowen | Williams © 2014 Cengage Learning. All rights reserved. Senior Project Development Manager: Linda deStefano Market Development Manager: Heather Kramer Senior Production/Manufacturing Manager: Donna M. Brown Production Editorial Manager: Kim Fry Sr. Rights Acquisition Account Manager: Todd Osborne en C Printed in the United States of America ga ge Le Compilation © 2013 Cengage Learning ISBN-13: 978-1-285-88034-1 ISBN-10: 1-285-88034-X Cengage Learning 5191 Natorp Boulevard Mason, Ohio 45040 USA ALL RIGHTS RESERVED. No part of this work covered by the copyright herein LL RIGHT th repro reprodu ted, s may be reproduced, transmitted, stored or used in any form or by any means electro graphic, electronic, or mechanical, including but not limited to photocopying, scann di recording, scanning, digitizing, taping, Web distribution, information networks, a or information storage and retrieval systems, except as permitted under o t Section 107 or 108 of the 1976 United States Copyright Act, without the prior writ written permission of the publisher. pro For product information and technology assistance, contact us at Cen Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit...
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...1 6 CHAPTER Advertising, Publicity, and Sales Promotion In the summer of 1965, 17-year-old Fred DeLuca was trying to figure out how to pay for college. A family friend suggested that Fred open a sandwich shop—and then the friend invested $1,000 to help get it started. Within a month, they opened their first sandwich shop. From that humble start grew the Subway franchise chain with more than 33,000 outlets in 91 countries. Targeted advertising, timely publicity, and sales promotion have been important to Subway’s growth. For more than 10 years, memorable Subway ads featured Jared Fogle, a college student who was overweight but lost 245 pounds by only eating Subway’s low-fat sandwiches like the “Veggie Delite.” Jared says it was a fluke that he ended up in Subway’s ads. After all, he was recruited to do the ads because of good publicity that Subway got after national media picked up a story that Jared’s friend wrote about him in a college newspaper. Subway’s strategy at that time focused on its line of seven different sandwiches with under 6 grams of fat. The objective was to set Subway fare apart from other fast food, position it to appeal to health-conscious eaters, and spark new sales growth. Jared already knew he liked Subway sandwiches, but the “7 under 6” promotion inspired him to incorporate them into his diet. As soon as Jared’s ads began to run, word of his inspiring story spread and consumer awareness of Subway and its healthy fare increased. It’s always hard to...
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...Instructor’s Manual Jane Murtaugh College of DuPage BUSINESS IN ACTION 3rd Edition COURTLAND L. BOVEE JOHN V. THILL & BARBARA E. SCHATZMAN Introduction This Instructor’s Manual brings together a set of completely integrated support materials designed to save instructors the trouble of finding and assembling the resources available for each chapter of the text. 1. Course Planning Guide Included in the guide are suggestions for course design, classroom activities, and supplemental teaching aids. 2. Learning Objectives and Summary of Learning Objectives For each chapter, learning objectives and the summary of the learning objectives are listed. 3. Brief Chapter Outlines For each chapter, a brief chapter outline is provided. 4. Lecture Notes and Chapter Outlines For each chapter, a comprehensive outline is provided, as well as a variety of stimulating lecture enrichment materials. 5. Real-World Cases At least two real-world cases related to chapter material are included for each chapter. 6. Answers to End-of-Chapter Questions Answers to the end-of-chapter questions are provided, as well as suggested teaching tips when appropriate. 7. Answers to See It on the Web Exercises Following the end-of-chapter questions, answers to the See It on the Web Exercises can be found, along with tips for the instructor. Answers to Boxed Features In each chapter, students are presented with at least two supplemental “boxes,” both containing questions about the material discussed. Answers...
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...More Than a Numbers Game A Brief Histor y of Accounting Thomas A. King John Wiley & Sons, Inc. More Than a Numbers Game More Than a Numbers Game A Brief Histor y of Accounting Thomas A. King John Wiley & Sons, Inc. Copyright © 2006 by Thomas A. King. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability...
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...This book has been optimized for viewing at a monitor setting of 1024 x 768 pixels. MADE TO STICK random house a new york MADE TO STICK Why Some Ideas Survive and Others Die • • • C H I P H E AT H & D A N H E AT H Copyright © 2007 by Chip Heath and Dan Heath All rights reserved. Published in the United States by Random House, an imprint of The Random House Publishing Group, a division of Random House, Inc., New York. Random House and colophon are registered trademarks of Random House, Inc. Library of Congress Cataloging-in-Publication Data Heath, Chip. Made to stick : why some ideas survive and others die / Chip Heath & Dan Heath p. cm. Includes index. eISBN: 978-1-58836-596-5 1. Social psychology. 2. Contagion (Social psychology). 3. Context effects (Psychology). I. Heath, Dan. II. Title. HM1033.H43 2007 302'.13—dc22 2006046467 www.atrandom.com Designed by Stephanie Huntwork v1.0 To Dad, for driving an old tan Chevette while putting us through college. To Mom, for making us breakfast every day for eighteen years. Each. C O N T E N T S INTRODUCTION WHAT STICKS? 3 Kidney heist. Movie popcorn. Sticky = understandable, memorable, and effective in changing thought or behavior. Halloween candy. Six principles: SUCCESs. The villain: Curse of Knowledge. It’s hard to be a tapper. Creativity starts with templates. CHAPTER 1 SIMPLE 25 Commander’s Intent. THE low-fare airline. Burying the lead and the inverted pyramid. It’s the...
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...EXERCISES E6–1. Sales revenue ($850 + $700 + $450) ......................................................................... Less: Sales discount ($850 collected from S. Green x 2%) ...................................... Net sales .................................................................................................................... E6–2. Sales revenue ($3,000 + $9,000 +$4,000) ................................................................. Less: Sales discounts ($9,000 collected from S x 3%) .......................................... Less: Credit card discounts ($3,000 from R x 2%) ................................................ Net sales .................................................................................................................... E6–3. Sales revenue ($5,500 + $400 + $9,000) ................................................................... 1 Less: Sales returns and allowances ( /10 x $9,000 from D) ........................................ 9 Less: Sales discounts ( /10 x $9,000 from D x 3%) ..................................................... Less: Credit card discounts ($400 from C x 2%) ........................................................ • Net sales ...................................................................................................... E6–4. Cost of Transaction July 12 July 15 July 20 July 21 E6–5. Req. 1 Net Sales + 297 + 5,000 – 150 – 1,000 Goods Sold + 175 + 2,500 NE – 600 $2,000 17 $1,983 $16,000 270 60 $15...
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...2014 ANNUAL REPORT AND PROXY STATEMENT Chipot le Mexican Grill, Inc. 1 401Wynkoop Street, Suite 500 en er, 0 0 arch , 01 5 DEAR FELLOW SHAREHOLDERS: When we set as our mission to change the way people think about and eat fast food, we knew it was a big and dif cult, but ery important, goal n establishing this mission for hipotle, we belie ed that we had a food culture and a people culture that would allow us to create a new fast food model, and unit economics that would enable us to do this in a way that was pro table and that would pro ide outstanding returns to our shareholders hroughout , we ha e seen increasing e idence that our ision is becoming reality idence of hipotle s continued leadership and in uence comes in many forms, from our ongoing uest to make the ery best tasting food we can made with the ery best ingredients and prepared using classical cooking techni ues to the strengthening of our people culture, strengthening of consumer trends that support our business model, our in uence on the category and our performance relati e to the industry as a whole uring the year, in our pursuit for better ingredients we ser ed more esponsibly aised® meat (from animals raised in more humane ways and without the use of antibiotics or added hormones) than any other restaurant company We continued to use dairy products made with milk from pastured dairy cattle We remain committed to our program of using local and organically grown produce whene er possible nd we continued to make...
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...Notice of 2013 Annual Shareholders’ Meeting and Proxy Statement b McDonald’s Corporation 2013 Contents 3 7 8 8 8 14 14 14 42 Proxy Summary Notice of the Annual Shareholders’ Meeting Election of Directors Proposal No. 1. Election of Directors Director qualifications and biographical information Executive compensation Compensation Committee Report Compensation discussion and analysis Proposal No. 2. Advisory vote to approve executive compensation Other management proposal Proposal No. 3. Advisory vote to approve the appointment of Ernst & Young LLP as independent auditor for 2013 59 Stock ownership 59 Stock ownership guidelines 59 Security ownership of certain beneficial owners 60 Security ownership of management 61 Compliance with Section 16(a) of the Exchange Act Transactions with related persons, promoters and certain control persons Policies and procedures for related person transactions 61 61 62 Related person transactions 62 Communications 62 Communications with the Board of Directors and non-management Directors 62 Consideration of Director nominations for the 2014 Annual Shareholders’ Meeting 63 Shareholder proposals for inclusion in next year’s Proxy Statement 63 Other shareholder proposals for presentation at the 2014 Annual Shareholders’ Meeting 64 Solicitation of proxies and voting 64 Notice and access 64 Record date 64 Voting prior to the Annual Shareholders’ Meeting 64 Voting at the Annual Shareholders’ Meeting 64 Quorum 64 Voting tabulation 65...
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...BU Basic M.B.A. International Master of Business Administration |Index | Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Business Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Entrepreneurship. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Finance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160 Marketing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180 Operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220 Statistics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 252 Strategic Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
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...U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2011 NON-EQUITY MODES OF INTERNATIONAL PRODUCTION AND DEVELOPMENT U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2011 NON-EQUITY MODES OF INTERNATIONAL PRODUCTION AND DEVELOPMENT New York and Geneva, 2011 ii World Investment Report 2011: Non-Equity Modes of International Production and Development NOTE The Division on Investment and Enterprise of UNCTAD is a global centre of excellence, dealing with issues related to investment and enterprise development in the United Nations System. It builds on three and a half decades of experience and international expertise in research and policy analysis, intergovernmental consensus-building, and provides technical assistance to developing countries. The terms country/economy as used in this Report also refer, as appropriate, to territories or areas; the designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. In addition, the designations of country groups are intended solely for statistical or analytical convenience and do not necessarily express a judgment about the stage...
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