HBM 524/533 Marketing Strategy Development A Review of Mission Statement For Fast Food Industry Prepared for: Dr Tony Lobo Submitted: 29 March 2010 Prepared by: Wei Zhao Student ID: 6623484 Executive Summary This report is written to evaluate if the mission statement is still necessary for company's succuss and to review mission statements for five quick services restaurants which are competing in the fast food industry including: Hungry Jack’s, McDonald’s, Domino’s Pizza, Kentucky
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Table of Contents 1.0 Introduction 2 1.1 Introduction of Kentucky Fried Chicken (KFC) Corporation 2 1.2 Objective of Ethical Audit Report. 2 2.0 Identification of KFC's Ethical Dilemmas 2 2.1 Trans fats 3 2.2 Animal cruelty 3 2.3 Environmental concerns 4 2.4 Wages and working condition 4 3.0 Ranking and evaluation of KFC's responses to its Ethical Dilemmas 6 3.1 Ranking of KFC's Ethical Dilemmas 6 3.2 Major Ethical Theories 7 3.2.1 Teleology 7 3.2.2 Deontology 8 3.2.3
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it owns. Yum! Brands, based in Louisville, Kentucky is ranked #201 on the FORTUNE 500 list with revenues of more than $13 billion. It was named among 100 Best Corporate Citizens by Corporate Responsibility Magazine in 2013. The restaurant brands - KFC, Pizza Hut and Taco Bell are leaders of the chicken, pizza and Mexican-style food categories globally (Yum! Brands Inc., 2014). With this kind of credit and stature this company has, who would think Yum has any challenges within their company? Yum
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ABSTRACT McDonald's is a worldwide fast food eatery. They extended their business in worldwide scale. It is clear that McDonald's surpassed other fast food joints as far as deals and notoriety in global level. The point of this undertaking is to figure out how this organization added to its promoting methodologies distinctively in Indian market. By making a similar investigation of McDonald's distinctive of operation and showcasing systems will be coordinated with their advancement circumstance
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fashion. Prior to being the number one chain, they trailed Kentucky Fried Chicken, who controlled 40% of the market back in 1999 while Chick-fil-A only had nine percent (Lutz, 2014). Chick-fil-A’s average sale is three times the amount of its competitor KFC. In 2013, Chick-fil-A prevailed as the category leader with $5 billion in sales and passed Kentucky Fried Chicken who recorded $4.2 billion; they also climbed from nine percent market share to 26% which passed Kentucky Fried Chicken’s 22% market share
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to Tricon. On May 16, 2002, Tricon changed its name to Yum! Brands, Inc. With its 37,000 units in over 120 countries, Yum is currently the world’s largest quick service restaurant company. Yum has three major restaurants, Kentucky Fried Chicken (KFC), Taco Bell and Pizza Hut. The company franchises and licenses its restaurant worldwide. In February 2012, they acquired controlling interest in Little Sheep Group Limited. They have around 18,000 system restaurants in the United States and in 2011
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Kentucky Fried Chicken (Japan) Limited Background • Harland Sanders – 6th grade dropout – casual cook. Late 40’s – developed a recipe for chicken based on a pressure-cooking method and secret seasoning mix of 11 herbs and spices. • Sold 700 franchises < 9 years. • Sander’s management style – relied on basic goodness of people around him and trusted the franchises to play fairly. There were no formal management systems or strategic controls in place. • Sanders in his 70’s
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While college students a couple of brothers, Frank and Dan Carney, borrowed $600 from their mother to purchase some kind of secondhand equipment. They rented a small building on in their hometown Wichita, Kansas and opened the doors of first Pizza Hut in 1958. A year later, the company incorporated and opened the their first franchise in Topeka. By 1966, Pizza Hut established a large home office in Wichita to help oversee the 145 Pizza Hut franchise restaurants that were established. It didn't
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Brief History of the Company Jollibee was founded by Tony Tan Caktiong who was born and raised in Fujian, one of China’s poorest provinces. His family migrated to the Philippines to look for better opportunities and began cooking in a Chinese temple. Because he spent so much time on the kitchen with his parents, he developed incredibly sensitive taste buds and learned his entrepreneurial mindset. In 1975, when Tony was only 22, he used his family’s life savings to open two Ice Cream Parlors in
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Macro environment/Remote Environment Analysis A firm’s macro or remote environment consists of the factors that originate beyond and usually irrespective of a single firm’s operating situation and consists of economic, social, political, technological, and ecological factors (Pearce and Robinson, p87). McDonald’s, a global leader in the fast food industry, remote environment contains many of these factors. Economic Factors: Markets require purchasing power as well as people. The available purchasing
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