Strategic Management Report fast food industry [10]
论文作者:51lunwen论文属性:课程作业 Coursework登出时间:2008-01-20编辑:点击率:33033
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consumers, for example, rarely have much bargaining power in negotiating price concessions or other favorable terms with sellers' (Thompson, 2005, p. 64), The customers of the fast food industry are mainly individual consumers, so they do not have too many bargaining powers 3
Buyers demand As case (MARINO, 2005, p. 6) stated the growth rate of fast food industry is expected to be only 2% annually, so the weak or declining demand creates a buyers market (Thompson, p. 65), That is why as case indicated all the major players in the fast food industry compete heavily to attract customers 8
Buyer knowledge about sellers' prices and costs As above indicated that all the price of the products of fast food industry is very transparent and customer can easily identify the cost of the commodity in the market, so buyer had full knowledge on seller's prices and costs. 7
Buyers pose a credible threat of integrating backward Most of buyers to fast food industry are individuals, they do have potential integrating backward capability to cook by themselves, however, this pressure was limited as individual consumer. 5
Average 6
As case mentioned (C-218, p.5-6) 'major players in industry had been willing to use price cuts to attract customers and In response to the trend that customers increasingly focusing on value, most of the sandwich companies had implemented a version of a low-cost menu.' And recently the major players in the industry shifted tactics in an attempt to curb deep discounts and to focus on building customer loyalty by updating menu items, increasing efficiency and improve service, which also match the points brought by Thompson (2005, p.53) 'industry members are racing to offer better performance features, higher quality, improved customer service, or a wider product selection.'
Appendix 3:
Appraising a company's resources strengths and weakness and its external opportunities and threats, commonly know as SWOT analysis (Thompson, 2005, p. 89)
Internal strengths and weaknesses
Weihrich (1982, p. 57) categorized 'the internal strengths and weaknesses into (1) management and organization, (2) operations, (3) finance and (4) other factors important for a particular organization. Below is ST analysis connecting the facts provided by the case to the above categories.
1. Management and Organization
Weihrich (1982, p. 57) mentioned 'this category includes not only managerial talent but also labor force as whole and also encompasses labor relations, personal policies; the appraisal, selection, training and development of employees; The planning and control system as well as the organization structure and climate.'
As case (MARINO, 2005, p. 1) indicated 'Since James Cantalupo took the rein of McDonalds in January 2003, he immediately announced an aggressive, broad ranging turnaround plan, with the successful implementation of those plans, By December of 2003 McDonald's had begun to show signs of a successful turnaround. So Talent Management is one of the strengths that McDonald's owned.
And the case also indicated (MARINO, 2005, p. 3) ' A key element of McDonald's business model, the Hamburger University Training Program for its franchise owners and store managers was established in 1961' To have the management team receive the same training program ensures the consistency operation in different outlets across geographically, so the Hamburger University is another key strength of McDonald's.
However, the weaknes
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