Table of Contents PART I: DESCRIBE TWO PUBLICLY TRADED BUSINESS RIVALS
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PART II: OPPORTUNITY 3
1. DESCRIBE THE INDUSTRY 3 2. GEOGRAPHIC AREA 5 PART III: INDUSTRY ANALYSIS
1. FIVE FORCES ANALYSIS
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2. LOW POWER COUNT
7
3. KEY SUCCESS FACTORS
8
6
4. ECONOIES OF SCALE ! HIGH POWER THREAT PART IV: STRENT! ASSESS"ENT
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1. RAW DATA ON KEY SUCCESS FACTORS 11 2. CONVERTED SCORE OF KEY SUCCESS FACTORS
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3. AVERAGE CONVERTED SCORE ON KEY SUCCESS FACTORS 14 4. SUSTAIN COPETITIVE ADVANTAGES RE$ERENCES
15
#6
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PART I: DESCRIBE TWO PUBLICLY TRADED BUSINESS RIVALS
1. This research paper is a business analysis on the two publicly traded corporations, McDonalds and Burger King. Both of them are competing in fast food industry. Fast food industry is one of the largest food services sectors around the world. This industry focuses on the lower prices strategy in order to attract customers worldwide. Therefore, !" #ndustry surveys suggests that $%ur view is that restaurants will be largely unable or unwilling to raise prices much, if at all, for fear of losing customers to the competition& '(estaurant #ndustry urvey, tandard and "oor)s*. %n the other hand, the fast food industry is facing great criticisms from different health organi+ations and most people blame the fast food for causing health problems such as obesity and diabetes to the teenagers and adults nowadays. (ecently, the an Francisco Board of upervisors $passed a ban on restaurant toy giveaways unless the aforementioned meals meet certain healthy nutritional standards for calories, sodium and fat& 'Mcinley, The -ew or Times*. The authority urged the fast food industry to balance the nutrition needs for ids. /ith the economic downturn, fast food industry is still maing money because $During a recession, the spie in unemployment generally leads to declines in consumption levels. /hen personal consumption e0penditure is high, consumers will be more liely to spend money on eating out at fast food restaurants. This driver is e0pected to increase over the ne0t year, providing a potential opportunity for the industry& 'Fast Food restaurant in the , #ndustry "erformance, #B#/orld*. McDonalds, the largest fast food restaurant in the is located in 2111 McDonald3s Dr., %a Broo, #4 5672. #t could generate 22,897 1 million total revenues during the recession period according to the annual 16:K report. Burger King, the second largest fast food restaurant located in 7767 Blue 4agoon Drive, Miami, Florida ;;125 still earned
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2,7;8.9 2million total revenues during the past fiscal year according to its 16:K report. #n general McDonalds and Burger King compete with all types of food retailers on the basis of prices, convenience, food
McDonalds and Burger King are competing in the dynamic food retail industry. =ustomers have various choices of food. They have the powers to determine the whole industry)s directions and developments. McDonalds and Burger King are woring to ma0imi+e the maret shares and increase the revenue across countries. Moreover, fast food industry is still the leading food retail sector in the nited tates and this attracts lots of local and regional companies to >oin the industry. The capital and technical re
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significant amount of profits in the maret even though people have reali+ed the importance of health. (ight now, the fast food industry is trying to sell more healthy food which will enhance the corporation image and provide more choices to the public. McDonalds and Burger King are not only competing against each other, they also need to face the challenges from other types of restaurants. For instance, most dine:in restaurant such as TA# Friday and =hilies offered low price menus last year which greatly affected the attractiveness of McDonald and Burger King)s food to the customers. Furthermore, other fast food restaurants such as Kentucy Fried =hicen, /endy)s and "i++a @ut has launched various mareting campaigns and provided more choices of food to suit the customers) needs. There is rapid competition in the fast food industry when the economy is bad because people are spending less on food and often pic up the cheapest one with the most values. =onsumers will spend more in affordable restaurants as the conomist reports, $Fast food was once thought to be recession:proof. /hen consumers need to cut spending, the logic goes, cheap meals lie Big Macs and /hoppers become even more attractive& 'Aood and @ungry, The conomist*. ince the maret in the nited tates is well developed, Burger King and McDonalds are going to further e0panding their maret shares overseas in order to increase their revenues. ?ccording to McDonalds) 16:K report, the uropean region had contributed C289 ;million total revenue in year 266. %n the same time, the nited tates had C899 9 million total revenue, the ?sia:"acific region had C9,;;8 7million total revenue and other countries and corporate had C116 5million total revenue. %ther than increasing the number of restaurant in foreign counties, menu innovation will be a good method to attract customers overseas. Therefore, McDonalds
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offered special beverages lie the Mc =afE brand coffee and mil shaes to attract more customers. =onsumers demand more from the fast food restaurants, they want to get the most out of the lowest prices nowadays. /ith the increasing supply of services and food from various fast food restaurants, the competition will be een and only the best one will survive after the global economic downturn. The tandard ! "oor)s #ndustry also predicts this by saying $ #n 2616, given our forecast of only modest sales growth for the industry and with cost pressures liely to intensify, we would e0pect more operators to fail. #ndeed, industry research firm -"D Aroup #nc. announced in uly 2616 that their restaurant unit count declined by 1G, or a loss of 7,269 restaurants, this spring compared with spring 266& '(estaurant #ndustry urvey, tandard
P##%9:. 2. GEOGRAPHIC AREA
The industry)s largest demand is from the -orth ?merica (egion. The fast good industry is first developed in the nited tates. ?fter years of developments, fast food has definitely changes the habits of people)s consumption patterns in the nites tates. Most consumers are used to eat in the fast food restaurant since they are young. They are used to french fires, cheese burgers with free re:fill soft drins. The development in the -orth ?merica region is mature enough for the fast food industry to capture most of the customers. #t maintains growth rate in the -orth ?merica region even though the economic is bad in the recent periods. McDonald and Burger King still have over thousands chain stores across the nited tates and =anada. McDonalds generated C899 million total revenue within the nited tates. ?ccording to Burger KingHs 16:K report, 5G 8 of the revenue was coming from the nited tates and =anada. Burger King also had 1.2G sales growth in this (egion in year 266.
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Furthermore, it is more difficult to further e0panding the fast food industry in the uropean countries. "eople around the world thin of fast food as ?merican culture and tradition. ?s far as we now, most uropeans love their traditional food and hesitate to try the ?merican fast food. For instance, most uropeans rather spend money in the local stores than eating hamburgers in McDonald. They always critici+e about the monopoly behaviors of McDonalds and the unfair labor contracts provided by McDonalds to the employees. Moreover, some uropeans >ust value the time of cooing and eating and they do not prefer eating a 7 minutes wrap up meal with e0cessive amount of calories in fast food stores. nlie the uropean region, the ?merican fast food store is still under developing process in most ?sia:"acific region. The huge maret demands from =hina and Korea has attracted most fast food brands to set up their chain stores. They had successfully developed in menu innovation, service enhancement and restaurant re:imaging in the ?siaI"acific region. ?lthough the potential growth in this region is high, the overall demand is still small in compared with the -orth ?merica (egion. ?sian people have totally different eating patterns than ?mericans and =anadians. They will eat in any fast food restaurant but not that often as ?mericans do. #t is more lie a fashion to eat in ?merican restaurant in =hina than a need to en>oy the hamburgers and french fries. %verall, McDonalds and Burger King still have the largest amount of demand in the -orth ?merica region currently. They have successfully changed the eating patterns of people within this region. The demand growing is slowing in this geographic area but the total consumption volume in huge. PART III: INDUSTRY ANALYSIS 1. FIVE FORCES ANALYSIS The fast food industry is a highly competitive industry. The first competitive force of the
five forces analysis for the fast food industry is suppliers. For suppliers, it is low because there are many suppliers for the fast food industry, such as the soft drin industry. ?ccording to the #B#/orld, there are many suppliers in the soft drin industry, such as the =oca:=ola =ompany,
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"epsi=o, #nc., Dr. "epper napple Aroup, #nc., -ational Beverage =orporation, and the =ott =orporation. 'oft Drin "roduction #n The :Ma>or =ompanies, #B#/orld* @ence, demand for supplies is less than suppliers) capacity to satisfy all demand. The second competitive force is customers 'buyers*. For customers 'buyers*, it is high because $there is little differentiation among products and buyers can choose from among more than two sellers.& 'J1611L #ndustry ?nalysis, lide 19* For e0ample, $Burger King e0cels at its new teahouse NT burgers and McDonald)s is also trying to deliver an upscale burger with its ?ngus $Third "ounder&. 'Fast food is no longer all bad food, The Boston Alobe* The third competitive force is the threat of substitute products. For the threat of substitute products, it is high because switching cost is low and since $Othere are a million burger conceptsO& '?dditions to Midtown)s Menu, The /all treet ournal* not only in the fast food industry but also in other industries as well, such as gourmet restaurants and fast:casual restaurants $which distinguish themselves from fast:food eateries by mareting themselves as higher
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entrants were able to target the issue of obesity by coming out with healthier products than competitors) and provide all the information that customers wanted, then it would definitely become a threat to other competitors. 2. LOW POWER COUNT $?s a rule, the higher the collective power of the five competitive forces, the lower the e0pected profitability of the average rival with no particular strengths or weanesses.& 'J1611L #ndustry ?nalysis, lide * Based on the five forces analysis, there is only one low force so the e0pected profitability of the average rival with no particular strengths or weanesses with is less than cost of capital and because $competitive pressure and declining demand are forcing companies to consolidate their operations and streamline employment. #ndustry profit margins have been falling or remaining flat at best. This factor has occurred because of lower sales volume and customers opting for lower priced items 'thereby reducing revenue*, high levels of competition in the domestic maret and the industry reaching saturation levels.& 'Fast Food (estaurants #n The :#ndustry "erformance, #B#/orld*
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3. KEY SUCCESS FACTORS
$Key uccess Factor is either a financial ratio measure or a strategy, and neither can be a Ke y uccess Factor because Key uccess Factor must be a resource or capability that a business must be strong on in order to e0ecute a strategy and achieve financial performance that e0ceeds the cost of capital.& 'J1118L (eview for Team (esearch "aper, "art =* The first Key uccess Factor is inventory turnover. #nventory turnover is $measures the rate at which inventory is sold. #t is
8 ourceP httpPwww.ibisworld.comindustryuscurrentperformance.asp0QindidR1585 8
calculated as the store)s cost of goods sold 'recorded on the income statement for a given period* divided by its average inventory 'recorded on the balance sheet for the same period*.& 'J1118L (eview for Team (esearch "aper, The Balance heet* ?lso, $a high turnover implies that the company is managing its inventory efficiently& 'J1118L (eview for Team (esearch "aper, The Balance heet*, so the higher it is the better the company is doing. For e0ample, products of fast food restaurant are perishable so they have to get rid of it
ectives, lide 9* For e0ample, $the professional needs to develop an appreciation of (esearch and Development and innovation in critical technology areas such as novel process development in preservation and storage techniectives, lide ;* The fourth Key uccess Factor is economies of scale. For economies of scale, it is calculated as the costs divided by the total assets and $lower is better if it is a growth strategy.& 'J61;:17L Measuring "erformance sing Financial (atios ! etting %b>ectives, lide ;* ?lso, it means that $the cost per unit produced decreases as the si+e of production increases. This is a way to cut costs without hurting the product features and services.& 'J1611L #ndustry ?nalysis, lide 18*
The fifth Key uccess Factor is scale. For scale, it is the total assets. ?s for the result, $higher is better if it is a growth strategy.& 'J61;:17L Measuring "erformance sing Financial (atios ! etting %b>ectives, lide ;* The last Key uccess Factor is charity program. For charity program, it is the net assets. For e0ample, by having a charity program lie McDonald)s (onald McDonald @ouse =harities and Burger King)s @ave #t our /ay Foundation, it helps to establish a good image in the community. ?s for the result, higher is better if it is a growth strategy.
4. ECONOMIES OF SCALES & HIGH POWER THREAT OF RIVALRY For high:power threat of (ivalry, it means $there is a significant price:based competition within this industry, but
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Pa! IV: S!"#$!% A"'"#! 1. M(D)#a*+ a#+ B,$" K-#$ a +a!a )# K"/ S,((" Fa(!) a. McDonalds raw data on relevant Key uccess Factors
McDonalds
266
=alculation
12U.1U (evenue?verage #nventory 22,897M188.995M
I#0"#!)/ T,#)0"
6.1; G: !%" I#+" ) S,!a-#a*" G)!%
Ma#,a(!,-#$ E-(-"#(/ E()#)'-" ) S(a*"
6.5 6.7;
J1:dividend payout ratioLS(% Dividends payouts ratioRDividends per sharesearning per sharesP 6.7 (% R;9G 1:6.7S6.;9R6.1;16 =%Aales (evenues 176922897R6.511 =ostsTotal ?ssets 17,69;6,229.R6.7;12
)**+(,,---.;#$*&#<.&#,'*&,'<;,;#$*&D#<,0'*#%=%'<*#".P %.17264.F 1" )**+(,,---.;#$*&#<.&#,'*&,'<;,;#$*&D#<,0'*#%=%'<*#".P %.17264.F 11 )**+(,,---.;#$*&#<.&#,'*&,'<;,;#$*&D#<,0'*#%=%'<*#".P %.17264.F 12 )**+(,,---.;#$*&#<.&#,'*&,'<;,;#$*&D#<,0'*#%=%'<*#".P %.17264.F 11
S(a*" C%a-!/ P)$a'
;6229. M1; 1952817919
Total ?ssets Total ?ssets of (onald McDonald @ouse of =harities of Metro t. 4ouis
b. Burger King raw data on relevant Key uccess Factors 2556
B,$" K-#$
Ca*(,*a!-)#
(evenue?verage #nventory I#0"#!)/ T,#)0"
8.21 27;8.925.16R8.2117
G: !%" I#+" ) S,!a-#a*" G)!%
6.2
J1:dividend payout ratioLS(% 15 Dividends payout ratio R6.6618 (%R266.189.UR6.2
13 )**+(,,---.;#$*&#<.&#,'*&,'<;,;#$*&D#<,0'*#%=%'<*#".P %.17264.F 14 )**+(,,---.;;;.#%/,&)%*>?%'0'-,*<#$,&)<%'??>#$*),%#<?&#<?)#$'? &)%*'?#@?'*%#?*?<#$??*?<#$?#?4753
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6.U5
1:6.6618S6.26R6.2 =%Aales (evenues18 21U27;8.9R6.U5
6.U1
=ostsTotal ?ssets 1U
Ma#,a(!,-#$ E-(-"#(/
E()#)'-" ) S(a*" S(a*"
2868.1M
21U2868.1R6.U1 Total ?ssets
C%a-!/ P)$a'
261287126
-et assets of @ave #t our /ay Foundation
1
The inventory turnover shows how often the company sells and replaces its inventory during one year. #t represent a ratio calculated by dividing revenues over average inventory the company is holding between two successive two period, in our case it is average inventory for 266 and 266U. #t is a measure of how ob in managing its inventory than Burger ing does. For the AS, it is measure of company growth. The higher the ratio the better. AS shows how much a company is growing and e0panding. From the raw data we collected for both companies, McDonalds and Burger ings, we conclude that burger ing with AS of 26G is growing faster than McDonalds with AS of 1;G. This result may be due to the fact that
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McDonald)s use a big part on net income to pay dividends, and its dividends payout ratio is 6.7 opposite to burger ing has a lower payout ratio 6.6618. /e can conclude that Burger ing use its net income to buy more assets and to grow its maret share instead of paying dividends to its stocholders. Manufacturing efficiency ratio, shows how efficient the company in manufacturing its product by using less resource to get the ma0imum output. Both McDonald)s and Burger ing manufacture their product from paper cup to beef patties, and they are re
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than the charity program of burger ing with only C2,612,871. o McDonalds has a competitive advantage over burger ing in that KF.
2. M(D)#a*+ a#+ B,$" K-#$ C)#0"!"+ ()" )# K"/ S,((" Fa(!)
I#0"#!)/ T,#)0"
M(D)#a*+
B,$" K-#$
7
1
1
7
7 7 7 7
1 1 1 1
G: !%" I#+" ) S,!a-#a*" G)!% Ma#,a(!,-#$ E-(-"#(/ E()#)'-" ) S(a*" S(a*" C%a-!/ P)$a'
3. M(D)#a*+ a#+ B,$" K-#$ A0"a$" C)#0"!"+ ()" )# K"/ S,((" Fa(!)
A0"a$" C)#0"!"+ S()" )# K"/ S,((" Fa(!)
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9.;;
1.55
4. I+"#!-/ !%" -0a* !%a! - ')! *-7"*/ !) ("a!" a#+ ,!a-# ()'8"!-!-0" a+0a#!a$" a$a-#! !%" )!%". sing the average on Key uccess Factors in part #W :; McDonalds scores 9.;; on 266, however Burger ing scores1.55./e believe that e0celling in the Key uccess Factors mentioned above are very important in the fast food industry because they are the base of gains reali+ation, and they assure a prolonged competitive advantage among competitors in that industry. Therefore, McDonalds has a competitive advantage over Burger ing in the overall Key uccess Factors, hence McDonalds will sustain a higher profitability than Burger King in the fast food industry.
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(eferences
Better Business Bureau, . '266*. Charity Review of Ronald McDonald House Charities of Metro St. Louis. (etrieved Dec. 1, 2616, from Better Business Bureau of astern Missouri ! outhern #llinois, t. 4ouis, M%. /eb siteP httpPwww.bbb.orgcharity:reviewsstlouischildren:and: youthronald:mcdonald:house:charities:of:metro:st:louis:in:st:louis:mo:987; .
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(eddy, . '2616*. +dditions to Midtown4s Menu. (etrieved Dec. 1, 2616, from The /all treet ournal, -ew or, -. /eb siteP httpPonline.ws>.comarticleB1666192967289U86;758;6978752U87618U61795.htmlQ K/%(DRgourmetYburger . (uteri, . M., ! Nu, . '266*. upply =hain Management and =hallenges Facing the Food #ndustry ector in Tan+ania. International 5ournal of "usiness and Mana#e(ent , 6'12*, 85. /eb siteP httpPwww.ccsenet.org>ournalinde0.phpi>bmarticleviewFile;865;859 amadi, -. '2616*. 'ast 'ood Restaurants in the US&Co(1etitive Landsca1e. (etrieved Dec. 1, 2616, from #B#/orld, 4os ?ngeles, =alifornia. /eb siteP httpPwww.ibisworld.comindustryuscompetitivelandscape.asp0QindidR1585 . amadi, -. '2616*. 'ast 'ood Restaurants in the US&Industry /erfor(ance. (etrieved Dec. 1, 2616, from #B#/orld, 4os ?ngeles, =alifornia. /eb siteP httpPwww.ibisworld.comindustryuscurrentperformance.asp0QindidR1585 .
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