Planning is interpreted as the setting of goals and deciding how to achieve them. It also means dealing with uncertainty by formulating future courses of action to achieve specified results. The focus of this paper will be on Burger King, which is the second largest fast food restaurant chain in the US.
Burger King Corporation was founded by James McLamore and David Edgerton in 1954 in Miami, Florida. Burger king is known for serving a high-quality, great-tasting, and affordable food. The purpose of each organization is to achieve its goals. To be able to reach their goals, organizations have to set clear objectives and give people a clear idea of their overall targets. This is the starting point for planning in the management process. Burger King’s reason for being is to prepare and sell quick service food to fulfill customers’ needs more accurately, quickly, courteously, and in a cleaner environment than their competitors. Of course each fast food restaurant has its own strategy in planning their business; this is why a SWOT analysis is necessary in providing with the internal matters comprise of the skills and capabilities an organization has in executing its mission and the drawbacks that hinder the organization; and external matters, which are environmental factors the company may exploit and those that can hinder its efforts in achieving competitive advantage environment.
The internal matters are composed of the Strengths and Weaknesses.
Burger King’s strengths:
• Strong market position
• Franchise mix
• Great financial performance
Burger King’s weaknesses:
• Declining market share
• Market concentration
• Failure in promoting products
The outside matters include the Opportunities and ...
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WinCo Foods is a supermarket chain with headquarters in Boise, Idaho. It started in 1967 and has since expanded to include over 100 locations throughout the United States. Until 1999, all of its stores operated as Cub Foods or Waremart Food Centers, but the company now has its own branded locations. It also has five distribution centers. The stores and distribution locations employ more than 15,000 staff members in a variety of positions.
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A. Attention getter- Do you Know that Chipotle uses organic ingredients and naturally raised chicken, pork and beef?
Another strength is Burger King’s franchise development having 90% of its restaurants franchised. The franchise concept allowed the company to grow with minimal capital expenditure and receive royalties and fees. Burger King went above and beyond and created a new model of its restaurant to attract mo...
Burger King is an American fast food chain that was founded in nineteen fifty-three as instaBurger King. It was originally founded by Keith J. Kramer and Matthew Burns. After running into some financial problems along the way InstaBurger was no more. In nineteen Fifty-Four David Edgerton and James McLamore purchased the company and renamed it “Burger King”. Over the next couple of years ownerships were changed a couple of times to make sure the company was running at its absolute best. Its headquarters are currently located at 5505 Blue Lagoon Drive, Miami-Dade county, Florida, United States. The nineteen seventies were considered the best time for Burger Kings advertising, using short commercials displaying their food that just looked to eat
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
Burger King adds value through the good quality products served. What the customers perceives is what the customer gets and sometimes more than what the custome...
Burger King’s core competency is fast food restaurant franchises specializing in made to order, flame-broiled hamburger sandwiches, particularly the “Whopper”. Using the strategy of industrial organization to capture market share Burger King offers a similar product (hamburgers) in a different way (flame-broiled). This strategy of product differentiation is part of the firm conduct category that Burger King uses to set itself apart from its competitors. In order to compete with its fast food competitors Burger King accentuates its core competencies in its marketing and product strategies, thereby leveraging market share.