Running head: PROPOSAL: STRATEGIES OF ESTABLISHING FAST FOD BUSINESS
PROPOSAL: FAST FOOD BUSINESS 2
PROPOSAL: FAST FOOD BUSINESS
Proposal: Fast Food Business
Fast food organizations are increasingly engaging a highly competitive business environment in offering high quality hospitality and nutritional services towards addressing the customer’s needs primarily through the value for customers. My option to set up a fast food company gets the influence from the vast knowledge and experience in this sector hence the need for a great customer for value to trap new clients from the dynamic, fast food ecosystem. Consumer for value entails the establishing of value for every food item as made and sold in a given fast food firm thus the need for crème de la crème in the form of quality services with a genuine feel of their extensiveness (Kiesha, 2017). As a result, I would embrace strategies that have a high impact on the fast food and every other business organization in a unique way as described below.
First I would lead by example by presenting an excellent orientation of the staff on the best strategies of serving the clients specifically by giving the excellent client service no matter the mood and client perception (Anthony & Mara, 2010). I would also employ a holistic Customer Service strategy to align service providers with client experience to ensure that the food purchased presents satisfying client feedbacks. Either, I could employ realistic business practices which can impact client experience and the staff thus creating an equilibrium between services and efficiency (Anthony &Maria, 2010). Because asking for client feedback present a win-win scenario, I would use client views to decide improving, maintaining or reorganization to address client experience and satisfaction. More so, I would emphasize the golden rule to address client matters promptly and satisfy their needs towards reducing the levels of negative publicity about the offered services.
As the new entry into the fast-food sector, I could use Porter’s Five Forces Model to highlight factors and threats that could affect the business of this company as exemplified by strengths such as take-over, diversification, and competitive advantage among others. This new firm could embrace pristine innovations to transform the traditional competitive dynamics towards out-shinning new fast food companies (Anthony & Maria, 2010). This firm could also diversify in its products and create other categories of food towards penetrating the sector within a short time (Kiesha, 2017). On the other hand, the new firm could face hurdles in the case where the existing fast food firm decides to influence how we enter the new market instead of barring us from the market to create regulations that could affect the initial operations of the firm. In the case of the existing firms or this firm had established a single competitive advantage would also affect the operations of this firm.
In comparison Macdonald’s Fast Food Company, the proposed fast-food firm use utilize every possible business strategies such as battling with external factors which could have an influence on the business including the political, financial, social and technology-driven issues. For instance, the PEST analysis has helped Macdonald’s to have planning towards neutralizing these potential factors (Anthony & Maria, 2010). The threat from the political factors include policies that are continuously demanding for the elimination or reduction of sodium or and sugar as demanded by the Healthy Menu Choices Act. Either, the inflation and high costs of taxation are potential risks that could hit this fast food firm. Although the company decided to neutralize these hurdles by targeting the more massive low and medium income population, it reveals its critical ingredients in its website and not on the menu. More so, it also created an incentive program through which the society would benefit as it also embraces its products or facilitates great productivity, bottom line, and proficiency to help alleviate the impact of the three political factors.
Besides, economic factors such as high rates of unemployment, consumer spending, and interest rates have threatened to affect the Company’s operation compelling it to employ the strategic provision of discount and promotion or adjusting prices to addresses the cost its product. The social factors such food preferences in the presence of the increasing whole and organic foods as well the lifestyle issues have compelled the Company to rebrand and create an appealing effect as it expands to reach new ecosystems towards a positive bottom line (Anthony & Maria, 2010). Finally, Macdonald’s Company has also embraced modern technology by using great smart telecasts to showcase its menu and ingredients in a manner that would drive one to purchase its products (Kiesha, 2017). More so, the company has employed digital platforms for advertisement and client feedbacks to create confidence among loyal clients in purchasing its goods amid the castigations. It has also embarked on vigorous packaging, labeling, and food production to ensure the global world contributes to the income of this food firm.
Anthony Rezitis & Maria A. Kalantzi (2010): Investigating market structure of the Greek food and beverages manufacturing industry: A Hall-Roeger approach, AGRICULTURAL ECONOMIC REVIEW, Vol 13, No.1
Kiesha Frue (2017): Analysis Example of the fast Food Industry
PROPOSAL: STRATEGIES OF ESTABLI
FAST FOD BUSINESS
FAST FOOD BUSINESS