logo

Business Health Check Assignment - KFC

   

Added on  2020-10-22

12 Pages3536 Words499 Views
BUSINESS HEALTHCHECK

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Analyzing the objectives of the business..............................................................................11.2 Explaining factors which impacts on KFC:..........................................................................21.3 Identifying potential improvements for KFC by using Ansoff's growth matrix...................3TASK 2............................................................................................................................................52.1 Reviewing the effectiveness of business...............................................................................52.2 Developing plans for improving business ............................................................................6TASK 3............................................................................................................................................63.1 Skills of management and staff.............................................................................................63.2 Justifying plan and development for skills of management and staff...................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness health check refers to a very key aspect in the business process. It has somemajor questions in context to business such as its strength and weakness, evaluating employeesand tools used in business. The present report is giving brief discussion on business health checkin context of KFC : Kentucky Fried Chicken. The whole research report is on task basis. Eachtask has its own priority, it has highlighted on business objectives, external and internal factorsby SWOT, PESTEL and porters five force model. Further it has also discussed about potentialimprovements of KFC by using growth matrix. The business effectiveness has been measured incontext of sales, products and many more. The major skills are classified for achieving successfor organization.TASK 11.1 Analyzing the objectives of the businessKFC Corporation founded and also known as Kentucky Fried Chicken is a chain of fastfood restaurants based in Louisville, Kentucky. KFC is the largest chicken restaurant and thethird largest quick service chain in the world. The companies of KFC has more than 36,000locations around the world which is very successfully running. Every day, more than 12 millioncustomers are being served at KFC restaurants in more that 109 countries and territories aroundthe world. The companies of KFC has more than 15,000 units around the world (ACHOLA,M.A. 2016).KFC has various numbers of aims and objectives which they have set to achieve in thefuture. Some SMART objectives of the Organization, are as follows,KFC tries to provide a tasty, health-conscious, and chicken-based product which thecustomers can enjoy and can return to buy it again.Providing quality food, a hygienic environment, and a positive and dynamic customerexperienceIt wants to increase the profitability of its outlets to attract more investors and franchiseesKFC wants grow its business and withstand pressure from other fast-food competitors,although these are goals set by most commercial entities.To increase the overall growth of the company by 95% at the end of 2018. This will helpthe company to increase there sales and production.1

KFC is planning to introduce a vegetarian food item into their menu to attract thecustomers which prefers only vegetarian food.1.2 Explaining factors which impacts on KFC:There are various internal as well as external factors which affects the organization'sfunctioning. External or macro environmental factors can be identified by PESTLE analysis orby Porter’s 5 force model. And the internal or micro environmental factors is calculated by amethod known as SWOT analysis.PESTLE analysis of KFC : It will discuss all the business environment of the companywith respect to the factors as discussed below : 1.Political Factors : KFC has to follow all the rules and regulations of the country inwhich they are operating in order to work effectively in the target market.2.Economic Factors : Many economic factors affects the management system of KFC.Based on the cost of the living index in the respective country and the purchasing powerof the customers affects the company in setting pricing for its products and serviceswhich is served to their customers (Newton, P. 2014)3.Social Factors : In these factors, company tries to serve their products according to theircustomers needs and preferences. It helps them to understand their customer more.4.Technological Factors : Technologies plays an important role to operate the company'sfunctions. As maximum work is done by machines, its very important for KFC to beupdated with the latest technology which is currently being used in the market.5.Legal Factors : As per the specific business and country’s legal systems, they have tofollow it strictly to produce their products (Shuailing, L.I. and Zhi, Y.U. 2015)6.Environmental Factors : KFC has specific regulations and makes sure that theircustomers are not throwing their wastes openly into the environment. They ensure that itsproducts and its processes are environmental friendly.Porter’s 5 Forces Model : From this method, KFC company can evaluate their businessand can help to plan strategies according to its various factors,1.Bargaining Power of Customers : KFC has set their product price so reasonable whichmakes their customers to easily afford their products. They are also managing the pricesaccording to their competition in the market.2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
KFC Market Audit & Strategic Marketing Objectives
|17
|982
|20

Environmental Scanning and Business Strategy: A Case Study of Kentucky Fried Chicken (KFC)
|13
|2925
|77

Strategic Marketing for KFC
|12
|3491
|1

Strategic Marketing: Understanding the Internal and External Environment of KFC
|17
|1345
|100

Importance of Analysis of Internal and External Business Environment for KFC
|10
|2376
|20

Strategic Marketing: KFC Analysis
|21
|1653
|93