Tuesday, May 12, 2020
Porters Five Forces of Fast Food Industry - 2785 Words
Innovative Integrated Management System (IIMS) for Sustainable Food Industry Assoc. Prof. Dr. Prasert Suttiprasit Director of The Centre for Standards and Quality Development of Production and Services Sukhothai Thammathirat Open University Nonthaburi 11120, Thailand Tel. +668-1346-9000 Email. prasert_sp@yahoo.com ABSTRACT It is evident that the long-term survival and growth of global food industry depend on the availability and efficient use of raw materials, energy and water and other facilities under the concept of sustainable practice, i.e. in environment, society and economics. Quality and safety managements are essential to ensure that the industry can continue to support the communities in which it operates. Awardingâ⬠¦show more contentâ⬠¦The common one for all nations in general format was adopted and revised by the Codex Alimentarius commission of the Joint FAO/WHO Food Standards Program in 1997 and amended thereafter in 1999 and lately in 2003. The quality management system standard, i.e. ISO 9000 has been implemented to control the food production process purposing to ensure the quality food products. Later on the majority of European, U.S. and other global retailers, and brand owners will only consider business with suppliers who have gained certification to the appropriate reta ilersââ¬â¢ standard such as SQF 2000, BRC, IFS and GFSI. In order to meet the global needs and expectations described above, most food companies in the earlier days implemented each standard (ISO 9001, GMP/GHP and HACCP, and other standards such as BRC and ISO 22000) separately. Hence, the resource requirement particularly human resource was somewhat very high. Too much documents and records had to be formulated and controlled. To resolve this problem, there have to be an integrated approach that will be imperative for organizations to have flexibility in their systemsââ¬â¢ design and management in the range of disciplines covering all standards in which they have to implement. Besides, the new integrated approaches have to be flexible andShow MoreRelatedPorter s Five Forces Theory Essay1426 Words à |à 6 Pagesglobalization era, businesses around the world develop in a really fast pace. The competition within an industry usually tough and it has its own pattern that could be difficult to understand by the new comer. Therefore, ch ances for new businesses to grow will be low if they are not analyzing the environment of the industry. One of the most common theory to analyzing forces of competition in an industry is Porterââ¬â¢s Five Forces theory. These five forces are consist of the threat of new entrants, the power ofRead MoreAnalysing Mcdonalds (Fast Food Outlets) Using the Porters 5 Forces Model ââ¬â Sometimes Called the Competitive Forces Model.1012 Words à |à 5 PagesCorporation using the Porters 5 forces model to asses its competitive position in the fast food industry. As the name suggests the Porters 5 Forces model focuses on 5 key factors affecting the environment in which a business operates. They are 1) Competitive rivalry 2) Power of suppliers 3) Power of buyers 4) Threat of substitute 5) Threat on new market entrants Each of these five areas can be looked with relation to McDonalds and there position in the fast food industry. CompetitiveRead MoreMarketing Plan For Chipotle Mexican1562 Words à |à 7 Pageshighlighted the major issues in form of Porter five forces and marketing mix as planning. Financial planning is also highlighted. Kindly provide your esteemed suggestions to guide me. 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It inducements upon industrial organization economics to develop five forces that determine the competitive intensity and therefore attractiveness of a market. Attractiveness in this context refers to the overall industry profitability. An unattractive industry is one in which the combination of these five forces acts to drive down overall profitability. A very unattractive industr y would be one approachingRead MoreEssay on Mcdonalds Porters Five Forces Model1198 Words à |à 5 PagesAnalysing McDonalds (fast food outlets) using Porters 5 Forces model ââ¬â sometimes called the Competitive Forces model. Introduction McDonalds Canada opened in 1967, thirteen years after McDonalds had taken the United States by storm. This was the first restaurant to be opened outside of the United States. It was in 1965 that McDonalds went public and offered shares on Wall Street. Since then it has been important for McDonalds to continually monitor its performance, to make sure it is competitiveRead MoreCompetitive Forces That Shaped Business Strategy1469 Words à |à 6 PagesBackground Information In 1979, Michael E. Porter published an article on the competitive forces that shaped business strategy (Prasad Warrier, 2016). From then on, people named the model as Porterââ¬â¢s Five Forces. Most use Porterââ¬â¢s Five Forces to determine an industryââ¬â¢s structure and its potential profit, opportunity, and risk based on the competitive forces that are affecting it (Porter, 2008). There are five competitive forces in Porterââ¬â¢s model. The first one is the competitive rivalry among existingRead MoreThe Framework Developed By Michael Porter999 Words à |à 4 PagesThe Five Forces Model The framework developed by Michael Porter, which identify and analyze the competitive landscape in an industry that impacted by five forces. These forces are the existing competition in the industry, threat of new entrants, the power of suppliers, the power of buyers, and the threat of substitutes. The model helps to determine the profitability of an industry and create a competitive strategy for the business. If the five forces in an industry are strong, this industry willRead MoreBharti Walmart 5 Forces1294 Words à |à 6 PagesQ1. Analyze the retail scenario in India in terms of Porterââ¬â¢s Five Forces and investigate the growth across different segments of retailing. Ans: Indian Retail Scenario in terms of Porter Five Forces Porter in 1974 has given ââ¬Å"Five Forcesâ⬠model to assess the industry environment. Five forces of Porter model which determine effectiveness of any Industry are: 1. Barriers to Entry 2. Bargaining Power of Buyers 3. Bargaining Power of Suppliers 4. Threat of Substitutes 5. Rivalry
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