Strategic Planning for Risk Management in KFC

Running head: RISK MANAGEMENT
RISK MANAGEMENT
Name of the Student:
Name of the University:
Author Note:

RISK MANAGEMENT1
Executive Summary:
This study is focused on the strategic planning of KFC that assists KFC’s risk
management. Environmental scanning affects the business climate of KFC, which influence the
company’s day-to-day business operation. The study aims to find out the Business level strategy,
Functional level strategy and corporate level strategy, and the timeframes of each strategy. This
study evaluates the stakeholder’s plan, resources, future actions, Risk activity eventuates despite
prior planning and its business impact assessment. KFC is one of the famous fast-food franchise
in present days which has almost 15000 branches in the worldwide. Its logo of their products is
“Crispy outside, the juice inside”. The company focused on delivering quality foods and
excellent customers. KFC maximise profitability, deliver sustainable growth and improve its
shareholder's value year after year. KFC concentrates on the competitor’s goods and surveys the
market for the knowledge of consumers.

RISK MANAGEMENT2
Table of Contents
1. Introduction:............................................................................................................................3
2. Discussion:...............................................................................................................................4
2.2 Strategies of controlling risk:.................................................................................................5
2.2.1 Business level strategy:...................................................................................................5
2.2.2 Functional level strategy:................................................................................................5
2.2.3 Corporate level strategy:.................................................................................................5
2.3 Timeframes for each strategy: (Anand & Yeung, 2018).......................................................6
2.4 Stakeholder’s plan:................................................................................................................6
2.5 Resources:..............................................................................................................................7
2.6 Future Action:........................................................................................................................8
2.7 Risk activity eventuates despite prior planning:....................................................................8
2.8 Business impact assessment:.................................................................................................9
3. Conclusion:..................................................................................................................................9
3. References:............................................................................................................................11

RISK MANAGEMENT3
1. Introduction:
KFC is an American fast-food restaurant, headquartered in Louisville, Kentucky, and it
specialises in crispy fried chicken. The other name of KFC is Kentucky Fried Chicken. It is
the second-largest restaurant chain internationally. In 1952 KFC was founded by Colonel
Harland Sanders in Corbin, Kentucky. In the fast-food industry, KFC is famous for its fried
chicken and expanding their business by challenging the well-known dominance of the
hamburger. KFC’s first product is pressure fried chicken which is an on-the-bone chicken
piece with Colonel Harland Sanders' "Original Recipe" of 11 spices and herbs. The item is
usually available in a family size cardboard bucket, which is generally holding 6 to 16
chicken pieces or three or four-piece individual servings. Strengths define the features which
the KFC Company is best and what separates them from their other competitors.
Weaknesses stop the company from functioning at its best level. The businesses are zones
where the industry must be developed to remain competitive. Opportunities define the
features which the company can utilize to its service to increase their sales, market share and
product recognition. Threats identify the factors which are potential to the company’s loss in
the upcoming days. KFC is one of the famous fast-food franchise chains in present days
which have almost 15000 branches in the worldwide. The logo of their products is “Crispy
outside, juice inside”. The company focused on delivering quality foods and excellent
customers. KFC maximise profitability, deliver sustainable growth and improve its
shareholder's value year after year.