The fast food industry can be difficult to differentiate on a single product. Differentiation in this industry can be focused more on the atmosphere and unique menu items. Brand and product advertisement can be key factors in becoming a strong brand name used in households and bringing customers in the doors. Making low operating costs along with fast turnover for a fast casual industry will prove successful. In an industry that has many different options, it is essential to cut down overhead prices to make the most from your future sales.
Here, bargaining power of suppliers is not that strong due to various aspects. One reason is because of the availability of countless wholesale food distributors in the locality. Second, since there are not much needed materials less available in the market, thus it can lead to the restaurant’s power of switching between suppliers. With a growing demand for supplies due to new entrants, suppliers increase their bargaining power. Supplies such as fresh ingredients, paper/plastic tableware and kitchen equipment and supplies are all in high demand in the healthy restaurant industry.
To be successful, you’ll invest a lot of time and money—so make sure that starting a restaurant is your passion, not just a business venture you hope will make money. “It’s harder than you can imagine,” says Omer Orien, “but people do it all the time. It’s not at all dreamy.” In these early days, it’s also a good idea to figure out what you want your restaurant to look like.
Panera’s HR Management has continued to look for high quality, friendly, and qualified individuals to help extend their business ethics and ideals to customers. Hiring these skillful workers allows Panera to, not only run their business efficiently, but effectively. ● Is it valuable? Yes, considering that from the bottom, the front line employees are always dealing with customers in the food industry. Also hiring qualified managers and bakers show that they are always trying to produce the best product possible.
These abilities are “profoundly goal-directed: to make their work efficient and to enhance their tips.” (p.10). As a line cook in a restaurant, I would agree with Rose’s argumentation that the intellectual abilities required to be a waitress are overlooked in the workforce. However, it could be argued that the back-of-house staff (line cooks, prep cooks, dishwashers, etc.) require the same intellectual abilities, yet we are not given as much credit for our work. I believe that Rose fails to recognize the importance of the chefs, who must prepare food that is aesthetically pleasing in a timely manner.
Fast food restaurants chains are often criticized for offering unhealthy food, but the higher nutritional value found in Panera Bread’s products makes it less prone to nutrition campaigns that have hurt chains such as McDonald’s. Indeed, the health care bill enacted in 2010 includes provisions that will require chain restaurants to publish the caloric content of their menu items, and Panera has gotten ahead of the crowd by becoming the first major restaurant chain to voluntarily publish its food items’ calorie counts; Panera’s lower-calorie fare may help it grab market share from fast food chains among health-conscious consumers. Meanwhile, dine in restaurants are very susceptible to drops in consumer spending. Therefore, Panera’s cheaper items make it an attractive alternative to traditional eateries. However, this does not mean that Panera is immune to these challenges.
These names may give positive responses amongst customers or may not have much effect on them. Al though there has been progress in this field, Deliza and Macfie’s (1996) said that more work can be done on how advertising and packaging generate expectations amongst consumers. Studies have been conducted regarding names in food
Core Competency(ies) of the Company The core competencies of Yum! is its ability to build up its supply chain quickly in new locations leading to above average procurement of packaging, key in the fast food industry. These factors combine to allow locations to hit the ground running and do what Yum! Brands locations do best; providing low cost items to their customer in a quick and timely fashion both domestically and internationally.
Section 4 Findings and recommendations (a) Evaluate the effectiveness of the revenue cycle McDonald’s is apparently one of the biggest giants in the fast food industry, and this role simply proves that they did really well in their internal management. Therefore, we are going to evaluate the effectiveness of McDonald’s in term of revenue cycle. Initially, there is a lists of complaints available online about McDonald’s, as the accuracy of ordering process should be improve due to employees often process incorrect orders or even misplace the customer orders.
One issue that they could address is the fact that the business seems to be more appealing to the lunch rush clientele. They could try to brainstorm and figure out a way to increase their clientele during the dinner hours, which in return will increase their evening sales profit. Another issue that Panera could face is their prices. There are a lot of cheaper alternatives to Panera, which is why they have a lot of competition. Panera Bread could have their managers focus on advertising and other ways to get their customers in the store without having their prices get in the
As referred earlier food is the center of attraction for any occasion and we need to make it a point that we spend quality time over the quality food. Therefore, we have to search for a restaurant that can make sure that we are offered quality food along with the perfect ambience. Cheap yet good quality food Moving over to the price of the food in the restaurant we do not really look up to the price when we get to spend time with our family. However, it is not bad if we can find a cheap family dining that can no doubt offer us the quality of food.
This short documentary ‘’ Fast Food, Fat Profits: Obesity in America’’ presented by Josh Rushing focused on the rise of obesity in America among young adult. According to this documentary, obesity has reached a crisis point in America, as two out of every three Americans are overweight. While there are many factors that played a role in this issue, he believed that cheap food, food deserts and processed food are the reasons why one out of every three Americans is obese in our country. Back in the days, malnutrition and food shortage have been the scourge of humankind. However, as chronic food shortage issue has been resolved, we are now faced with the epidemic of obesity, and in most countries, it is now recognized as a public health crisis.