...ENTREPRENEURSHIP CASE STUDY ON SECRET RECIPE PROGRAMME: EXECUTIVE MASTER IN BUSINESS ADMINISTRATION EMBA-Entrepreneurship – Case Study “Secret Recipe” Page 1 Table of Contents I Declaration ..................................................................................................................................... 2 II Executive Summary ..................................................................................................................... 3 III Abstract ........................................................................................................................................ 4 1.0 Company Description .................................................................................................................. 5 2.0 Challenges of Getting Business .................................................................................................. 8 2.1 Startup & Capital ......................................................................................................................................... 8 2.2 Identity or Branding .................................................................................................................................... 8 2.3 Expansion or Growth ................................................................................................................................... 8 3.0 Setting Up The Business ....................................................................
Words: 2935 - Pages: 12
...are not always clear to the practitioner (especially if you are new to the field of change management). In many cases, the guiding principles and lessons-learned are not even discussed as part of the model or tools. The result: you learn the how but not the why. The years of practical experience and knowledge that formed the basis for these processes are not readily available to a person trying to make them work in a specific situation. This new tutorial series goes beyond the activities and tasks of managing change for one simple reason: understanding the “why” makes you better at doing the “how.” Change management is not a matter of simply following steps. No two changes are exactly alike, nor are any two organizations. Following a recipe for change management is insufficient to drive business results. The right approach will be specific to the situation. If you do not understand the why behind your actions as a change management practitioner, changes can fail even when reputable change management processes are followed. In this tutorial series, we will examine some common activities and strategies that are used by change management professionals, and uncover “why” these activities or strategies are used. For example: • Why do business leaders need to communicate directly with employees instead of using the “communication cascade” or the normal chain of command? • Why are change management practitioners...
Words: 1907 - Pages: 8
...considerable success. To tell you the coca cola story, we will talk about its invention at first, then its evolution and to finish consequences of its success. I) Invention du coca. It was invented in 1886 (eighteen eighty six) by a pharmacist called John Pemberton, who lived in Atlanta in the South of the USA. The reason why it’s called “coca cola” is that it’s made with “coca” leaves and “cola” nuts. Pemberton liked testing medical formulas and one afternoon he was searching a remedy for headaches, he created a perfumed liquid, its colour was caramel and he shed it in a three-legged container. The mixture was mixed to the sparkling water and tasted by customers of his pharmacy that all, to the unanimity, found it very special, unique and new. Pemberton tried to make his customers buy it as a medicine. He told them it was a remedy for headaches. However he didn’t manage to make them believe him. He didn’t succeed in selling Coke. His customers must thought he was a quack. Indeed, unfortunately, Pemberton was more an inventor that a business man. He didn’t doubt that he invented one of the greatest products of the world. Pemberton died in 1888 eighteen eighty eight) two years after inventing Coke. After his death, a man called Asa Candler bought the recipe for Pemberton’s medicine for the price of 2330$ (two thousand three hundred thirty dollars) II) Evolution du coca cola In eighteen ninety two (1892), he began an advertising campaign which was a success. He...
Words: 906 - Pages: 4
...Five Guys: Recipe for Success 1 Five Guys Burgers and Fries: Recipe For Success Bonds Contemporary Business- BUS 508 January 25, 2013 Five Guys: Recipe for Success 2 Five Guys Burgers and Fries: Recipe For Success Introduction Five Guys and a Burger was created in 1986 when founder Jerry Murrell realized his two oldest sons did not want to go to college. He was okay with their decision and decided to use their tuition money that had been saved to open the first Five Guys and a Burger, a quality hamburger take out restaurant located in Arlington, Virginia. This paper will discuss the company’s philosophy; start up values, factors for success and the culture of the food. Five Guys Philosophy Five Guys’ philosophy sets them apart from any other food chain. They believe that if you sell quality food and maintain superior customer service that the product will sell itself. “Keep it simple, focus on “food,” not “fast,” and use honest-to-goodness fresh ingredients of the highest quality you can buy.” (Smith, para.3) When a restaurant keeps it simple, inventory and training is much easier within the restaurant and employees usually do a better job due to their tasks being much more manageable. When owning a small business quality versus quantity is important because it...
Words: 945 - Pages: 4
...Assessment #1: US Foods was founded in the 19th century by several entities and five generations of employees. Monarch Food is one such entity and is linked to a Dubuque, Iowa company that sold provisions for wagon trains heading west in the 1850’s. John Sexton and Company is another entity whose success began as a merchant for tea and coffee in Chicago in 1883 (http://www.usfoods.com). Today, US Foods is one of America’s leading food distributors, servicing every area of the industry, from small restaurants to healthcare, employing about 25,000 people working in over 60 locations nationwide. Their success is based upon their dedication to their customers, through integrity, innovation and teamwork. With a mission to “transform the food service industry by creating a superior food proposition and delivering solutions for customers,” (http://www.usfoods.com) US Foods is able to carry over 350,000 products, establishing relationships with trusted brands, and employing food professionals that are committed to helping customers become more successful. The distribution segment of the food industry began growing in the early 1970’s from specialty distributors to a “one-stop-shop” concept aimed at acquiring additional customers and targeting larger operators by offering them a convenient way of purchasing and acquiring the goods and services necessary to productively run their operations. For US Foods to rank as one of the leaders in food distribution, it needed to...
Words: 1903 - Pages: 8
...Porter’s Value Chain Model The Value Chain Model was first evangelized by Michael Porter in the 1980’s and focuses on a company’s ability to create greater value, increase profitability and gain competitive advantage by evaluating the organization as a whole through a linear series of activities performed by the organization to deliver a product and/or service to its customers. This model links functions across an organization and the impacts they have on one another to better identify potential efficiencies rather than reviewing them in separate silos. Activities within the Value Chain Model are divided into primary activities and support activities. Primary activities have direct connection to the physical creation, sale, maintenance and support of a product or service. These activities typically include inbound logistics, operations, outbound logistics, marketing and sales, and service. Support activities are those that support the primary functions and typically include procurement, technology development, human resource management, and infrastructure. Business Concept Overview As a busy new mom trying to juggle the demands of running a household, working full time and attending business school, I am constantly finding myself opting for convenience over health when it comes to eating. Previously, I was a meticulous meal planner for clean eating, spending tens of hours per week on researching, planning, shopping, prepping and cooking. While a healthy lifestyle is more...
Words: 1122 - Pages: 5
...Place we were visited | ----------- | Pg. 2 | I.3). Background of Secret Recipe | ----------- | Pg. 2 | II. Menu format use in the restaurant | ----------- | Pg. 4 | III. Factors affect menu pricing in restaurant and ways to reduce food cost | ----------- | Pg. 5 | IV. Management Component | ----------- | Pg. 6 | V. Conclusion | ----------- | Pg. 8 | VI. Referencing | ----------- | Pg. 10 | Included Originality Report | | | Included Presentation Slides | | | I Introduction 1) Name of Restaurant Chosen: Secret Recipe Cakes & Café SD Bhd. 2) The Place we were visited: Secret Recipe Song Plaza 3) Background of Secret Recipe a) Secret Recipe had been established for 11 years. Start from 1997 until today, secret recipe had success and expanded about 200 outlets in Malaysia. A Malaysian, Dato Steven Sim, founded secret Recipe at 1997. It is a simple restaurant and is the only one outlet at Malaysia. The founder used the only outlet as the pilot operation to test how Malaysian peoples can accept the restaurant that are more focus on several flavors of cake. In a while, Secret Recipe started to become famous since 2000 and the founder start to franchise it with his friend. At 2001, the franchise model is workable and the franchisor opened the business option for all the franchisees that have potential to run the business. b) The Secret Recipe had been expanded to neighbor countries in a short time. To date, the business...
Words: 2416 - Pages: 10
...easy but once it is done properly, it pays off in the future. One of the most well known fast-food chains, Five Guys Burgers and Fries, started its business in 1986 in Arlington, Virginia. Jerry Murrell and his sons opened four other locations over the next 13 years. As years went on, Five Guys started to franchise. Now, they have more than 1000 stores with approximately $483 million sales as of 2009 (Five Guys, 2012). The reason why Five Guys is growing so much is because it has philosophies that set it apart from other fast-food chains, such as, their recipe, and quality and customer. The Company has had strong business philosophies since its origin. Two of the main ideas that separate Five Guys from its competitor are its quality and recipe. Aside from their juicy hamburgers and fries which appealed to the masses; Five Guys also have a unique recipe and fresh marketing tactics to appeal to the market. The recipe in itself differentiates the product from that of its competitors; the major ones being McDonalds; Wendy’s and Burger King. The company does not serve frozen or dehydrated products to customers which sets its taste apart from the other companies' products (Inc, 2013). Today, it is showing everywhere how frozen food are unhealthy and should not be consumed. The company also makes their fries from real potatoes that make the taste better and healthier. Therefore, people who care about eating healthy and fresher food prefer to go to Five Guys to eat. Besides...
Words: 1089 - Pages: 5
...and named for its founder Bill Darden. In partnership with more than 2,100 restaurants and 200,000 employees, the Darden Foundation works each day — through grant making and strong partnerships — to bring a tradition of service to life in every community Darden serves (http://www.dardenfoundation.com, 2014). The Darden Foundation is focused and committed to making a meaningful impact on the communities they serve. The Darden Foundation identifies and invests in national nonprofits across the U.S. and near its company headquarters in Central Florida. The Darden Foundation has three programs that offer different opportunities for success for nonprofits, these programs named; Recipe for Success, Preservation, and Good Neighbor all align with Darden’s “Passion for People” (http://www.dardenfoundation.com, 2014). Recipe For Success One of the Darden Foundations core values is "Always Learning, Always Teaching," (http://www.dardenfoundation.com,...
Words: 827 - Pages: 4
...Construct and Support an Argument I am the oldest out of eight children, growing up; I had to lead by example for all of my siblings. I was the first to graduate from high school, the first to drive, and the first to have a relationship. My brothers and sisters always looked at me, as I was their guidance that set the bar high enough for all to follow. I was a super hero to them, always ready to take the next step without fear or regrets; on the inside I was terrified of most new experiences but I never let my fear show through to any of my siblings, I was brave in their eyes and I always knew that my footsteps will be followed. I knew when I completed my Bachelor’s degree, I had to continue to show my siblings that higher education is very important, and it is never too late to improve myself. My brothers all are different types of engineers, and they are very successful in their field, but they will always improve once they earn their Master’s degree. I am going to complete my Master’s to show that it can be done and all of my siblings should consider doing the same. My reason for going back to school is personal and I think that I will be successful because my career is not requiring me to earn the degree; I am going into the program with 100% of my own decision to pursue higher education. Many people have the desire to earn higher education to improve their lives and obtain a better jobs; it is true that higher education can help a person land a better job, but...
Words: 1035 - Pages: 5
...Assignment 1-Entrepreneurial Leadership Five Guys is a hamburger restaurant that was founded by Jerry and Janie Murrell in 1986, in Arlington, VA, as a result of two of their five sons declaring they were not attending college. With their college savings fund Five Guys was born. From 1986-2002 a total of 6 locations were operating in Northern Virginia. Due to their enormous success the company began franchising in 2002. According to the text, as of August 2010 there were more than 670 locations in America and Canada. (Boone & Kurtz, 2012). This paper will determine, analyze, enumerate, and access philosophies factors, and practices that have contributed to the growth and success of Five Guys 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Five Guys’ philosophy is unique in that everything about them is geared towards providing a fresh quality product at an affordable price to each customer that walks thru their doors. Five Guys is not about providing fast food but about the quality of the product. The presentation of the product is important as well. From the quality of the 80% lean beef to the freshly baked buns, and lastly their specially formulated Idaho French fries. Most of their competitors use frozen potatoes that are grown in other states like California and Florida that are grown faster and less expensive. Unlike their competitors such as McDonalds or Burger King, none of their products are pre-cooked all order are prepared when...
Words: 1165 - Pages: 5
...TABLE OF CONTENTS Executive Summary ............................................................................................................................................... 1 The problem .............................................................................................................................................................. 2 Background ............................................................................................................................................................... 3 Research ..................................................................................................................................................................... 4 PMB................................................................................................................................................................ 4 Primary data survey .............................................................................................................................. 5 Industry overview .................................................................................................................................. 7 Costs ............................................................................................................................................................. 7 Revenues ..................................................................................................................................................... 8 The...
Words: 8741 - Pages: 35
...Wendy’s but Jerry Murrell and his five sons have been trying to change that since 1986. And depending on who you ask, some might say that they are doing just that. Murrell and family started “Five Guys Burgers and Fries” at a Virginia shopping center with just one restaurant and an initial investment of a little less than $70,000 (Burke, 2012). Now the company has grown and franchised to over 1,000 stores and is worth close to an estimated $500 million (Burke, 2012). Many think that a burger and fries are simple but it is no accident that they have become a successful burger chain. Five Guys Burgers and Fries has a unique business model, philosophy, and culture that are a credit to their success, and understanding and examining these things can help any entrepreneur pave the road for success of their own business. Five Guys’ philosophy The Five Guys philosophy is to keep the business strategy simple, sell burgers and fries, while implementing quick and crucial cooking procedures that result in a quickly delivered but juicier, more upscale burger than other restaurants like McDonald’s (Rosenwald, 2006). The simple menu for Five Guys burgers has just that, burgers and fries. Although many people, customers and franchise owners alike, have begged for the Murrells to expand their menu to include many things that other restaurants offer, the owners refuse. It is not out of laziness or saving money that the Murrells refuse to expand their menu, on the contrary the Murrells agree...
Words: 1541 - Pages: 7
...Successfully turning around the client's situation so as to make the best of the current situation * Working within a short time frame Actions The actions we took to address these challenges were: * Diagnosed the situation and assessed where the source of problems lay * Developed recommendations on what could be best leveraged as a strong basis for the turnaround * Provided a timely solution for the most pressing problems while developing a plan for leadership and organizational change Results Our actions resulted in: * A successfull turn-around of the organization * Replacement of the CEO of the organization * ------------------------------------------------- Getting the organization successfully back on its way to success JD’s Restobar: The Newest Eroreco Restaurant Eroreco is known for the famous Pamilya Grill restaurant, Rinjin, the Japanese restaurant and now, on the same street JD restobar has opened! Opening Night! The food is your average Filipino food. However JDs restobar has cheap, cheap prices. The food is average and won’t break your wallet. The prices are student friendly ranging from 70 pesos -100 pesos and families will enjoy their cheap meals. Portion sizes are small to reflect this cheap price. --------------------------------------- Opening Night! Unlike Pamilya Gril, JD’s serves alcoholic drinks which gives them an advantage for barkadas or families looking to do some drinking. JD’s also serves seafood pala pala style where diners...
Words: 1018 - Pages: 5
...Burgers and Fries: Ingredients for Success” October 24, 2012 Using the Wiley Plus resources, go to the “Five Guys Burgers and Fries: Ingredients for Success” example. Write a three to four (3-4) page paper in which you: 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. 2. Analyze the original values for the start-up company and how it remains strong today. 3. Enumerate three (3) factors that contributed to Five Guys’ success in such a short time and what effect, if any, external markets had on these factors. 4. Assess how ethical and social practices are part of the Five Guys’ culture and provide examples to support your choices. 5. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Five Guys Burgers and Fries started its operations in 1986 by selling juicy burgers and fries. When Jerry Murrell and his sons started off; it was just five stores in Northern Virginia; but now they have 570 store operations in U.S and Canada with approximately $483 million sales as of 2009. The Company has had strong business philosophy since its origin. Along with a novel idea of juicy hamburgers and fries which appealed to the masses; it has been clever in amalgamating it with a unique recipe and fresh marketing tactics to appeal...
Words: 882 - Pages: 4
