Burger-KING-GGRS - summary about burger king company PDF

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BURGER KING

ATENEO DE DAVAO UNIVERSITY E. Jacinto Street, 8000 Davao City

Presented to the Faculty of School of Business and Governance In Partial Fulfillment of the Requirements for the Subject GOOD GOVERNANCE AND SOCIAL RESPONSIBILITY Submitted by: CABANOG, CHRIS JARED GATCHALIAN, RENE ANGELO GINGO, MARC FELIP LAPAR, MICAH ASIA MELINDO, JOHN ALFRED Submitted to: MRS. ROWENNA MAE DE JESUS

Company Background

Burger King Corporation is an American global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. As a brand, Burger King is synonymous with a quality product at a reasonable price. According to the company, Burger King was started in 1954 by James W. McLamore and David Edgerton in Miami. Other sources, however, trace Burger King back to InstaBurger King, a venture founded in Jacksonville, Florida, by Keith Kramer and Matthew Burns in 1953. McLamore and Edgerton sold their first franchises in 1959, and Burger King soon became a national chain. The company expanded outside the United States in 1963 with a store in Puerto Rico.

Burger King restaurants are franchised for eighty percent of worldwide. The restaurant in each country must meet strict requirements to make the same as all others. The company ensures that each time customers drive or walk into a Burger King, no matter where the customers are, the Burgers that customers order will always be the same taste, size, weight, and quality. There are legal contracts, quality standards, and performance specifications direct the individual restaurants in the effort to keep all the food orders the same.

Corporate Strategy The corporate strategy of Burger King is that they believe in “giving back”. The corporation strives to be a model of excellent corporate citizenship. BK encourages the volunteerism and they provide paid time off for the full and part time employees to take a part volunteer community. Instead the main corporate strategy is to provide excellent customer service by creating the “value for money”. Generally speaking, stakeholders are those who affect or impact the organization. There are two stakeholders. Internal and external stakeholders, People who are affected by the influence of the organization are external stakeholders. For example, creditors, government, suppliers, society are external shareholders.

Furthermore, people who have high intention for the organization are internal shareholder. Such as managers, employees, and owners. Internal Stakeholders

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Owners

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Employees

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Managers

External stakeholders

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Suppliers

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Creditors

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Government

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Society

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Shareholders

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Customers

External and internal stakeholders 

Government demand: Government demands from the BK are corporate tax, low unemployment, maintain health and safety law, and obey working regulation.

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Private owner/ Shareholders: Private owner and shareholders main interest from BK is profit. In addition their demand is to make BK market leader, better performance, direction and long lasting. Last three months to the end of the December 2008 BK net profit fell by 10% to the £30 million which is lower than 2007. BK said due to the currency fluctuation it’s difficult to forecast. (news.bbc.co.uk/go/rss/-/2/hi/business)

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Customers’ interest: Customers’ demand from the BK is lower price value meal, quality, and healthy products.

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Managerial expectation: Senior managers’ demand is to better performance, growth and make sure the all customers are happy.

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Employees demand: BK employees are really working hard. Nevertheless, their demands are pay rise, job security and ethical manner.

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Suppliers: 3663 is the BK’s main supplier. So their demand more sale and good performance.

Finally, from the external stakeholders, suppliers, shareholders, governmental tax and customers are more impacts than others and internal stakeholders are keys to make success in the competition.

Corporate Practices of Burger King for their Stakeholders (Internal): Burger King is known for having a deep-rooted corporate governance and compliance program. Their codes and company policies encompass not only their core ethical principles, but also the specific issues that their stakeholders have been facing daily. Burger King itself mentioned that they’re dedicated to support their stakeholders, both internal and external. This is because the company believes that their stakeholders are the cornerstones of the business, meaning that the stakeholders are very essential to them. In order to do that, they created a culture within Burger King that is Bold, Accountable, Meritocratic, Empowered, and Fun. Bold represents Burger King’s determination to approach every situation with dynamic and innovative thinking. Accountable means that the company embraces the responsibility they have as a public company to deliver value for their stakeholders and for their franchisees and to provide great services and products to their customers. Empowered says that Burger King vest individuals with the power and control to achieve their goals whether that person is their colleague, franchisee, supplier, or clients. Meritocratic ensures that exemplary work reaps great rewards. And Fun exclaims that people in Burger King work as a team and strive to make every Burger King touchpoint worldwide – more than 13,000 fast food locations, their field teams and Restaurant Support Centers – a place where people love coming to work every day. The board of Burger King sets the tone by promoting an ethical culture that respects and values their stakeholders, especially the employees and encourages compliance with all laws and company policies. The advantage of Burger King’s culture is its support for high performance, which is emphasized through meritocracy and empowerment. The empowerment and autonomy are motivating factors for high performance among employees. The accountability characteristic also ensures that, even with autonomy and flexibility, errors and related unnecessary costs are minimized.

Corporate Practices of Burger King for their Stakeholders (external):

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Media exposure- Burger King has the largest fan following on Facebook, as opposed to its Twitter and Instagram channels, with close to 8.5 million followers on its primary Facebook page. The brand added 203K followers in the analyzed period, a 2.45% growth in followers, which is almost 513 followers added per day. In terms of content, Burger King primarily published product-focused content on Facebook. The consistent use of brand colors and witty captions announcing new product arrivals, deals, and offers is a commonality amongst all its Facebook posts.

Here is a list of Top 5 competitors of Burger King –KFC One of the main competitors of Burger King is KFC. Also, known as Kentucky Fried Chicken, KFC is an American fast food restaurant chain that specializes in fried chicken.With a presence in over 136 countries, KFC is the world’s second-largest restaurant chain after McDonalds (measured by sales) Know best for its pressure-fried chicken pieces and its secret recipe of 11 herbs and spices, KFC expanded its menu to offer chicken wraps, chicken fillet sandwiches. Not just non-vegetarian customers, KFC also targetted vegetarian customers with its all-new range of salads, french fries, etc. – McDONALD’S An American fast food company that gives Burger King a run for its money is McDonald’s. Considered as the world’s largest restaurant chain by revenue, McDonald’s serves over 69 million customers daily in over 100 countries across approximately 36,900

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hamburgers, cheeseburgers and French

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products, breakfast items, soft drinks, milkshakes, wraps, and desserts. McDonald’s predominantly sells hamburgers, various types of chicken, chicken sandwiches, French fries, soft drinks, breakfast items, and desserts. JACK IN THE BOX...