White Paper - Key Success Factors - Fast-Food Industry

Key Success Factors – Fast-Food Industry I. Introduction As you may know, fast food is any food that can be prepared and served within a short amount of time. The history of fast food can be taken back to Ancient Rome – where bread and wine were sold in street-side stalls. The global fast food industry has had a tremendous growth over the last few decades. In 1970, we spent $6 billion on fast food – increasing to $110 billion by 2000. A. McDonald’s Corporation The first company I chose to discuss is McDonald’s. Everyone knows what McDonald’s sells. They are in just about every town in the US. If they are not in your town, they’re in the town next to you or very close to you. The very first â€Å"McDonalds† opened in 1940, but it was†¦show more content†¦(Patton, 2012) Taco Bell is owned by the Yum Brand, Inc. In 2009, Yum Brand said they earned $334 million or 69 cents a share in the third quarter, which went up from $282 million, 58 cents/share the year before. (Spain, 2009) II. Operational objective A. McDonald’s Mission Statement McDonald’s mission is to be our customers’ favorite place and way to eat with inspired people who delight each customer with unmatched quality, service, cleanliness and value every time. We invite you to be the part of this winning team and give yourself an opportunity to grow with the family of people striving to create smiles on the faces of millions of people every day. (McDonalds, 2012) B. Taco Bell’s Mission Statement We take pride in making the best Mexican style fast food providing, fast, friendly, and accurate service. We are the employer of choice offering team members opportunities for growth, advancement, and rewarding careers in a fun, safe working environment. We are accountable for profitability in everything we do, providing our shareholders with value growth. C. Objective – McDonalds McDonald’s objective is to ensure that their products are high quality. They are committed to serving high quality products to their customers. Also, to make sure that whenever you leave their restaurant, you leave full,Show MoreRelatedMgt 401 Week 21447 Words   |  6 Pagesbusinesses require some outside funding. Not many entrepreneurs have enough personal capital to open and maintain funding for a business. To attract investors and attain partnerships, a business owner should consider a business model necessary. This paper will compare two restaurant businesses, identify the business model and forms of ownership for each business by completing a Comparison of Business matrix, describe benefits by building a sustainable competitive advantage, and giving advantages andRead MoreSwot Analysis Of Mcdonalds International Market1326 Words   |  6 PagesThe McDonald’s company started in the late 194o’s, and went international in late 1960’s and early 19 70’s. 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