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Essay / Research Paper Abstract
For any company to be successful the firm needs to identify its’ key success factors and develop strategies to ensure that it satisfies the key success factors. This 6 page paper considers how this occurs in a single company. Using the example of a fast food chain; McDonalds, the will known hamburger chain, the internal strategies are examined to show who they are important in releasing the necessary standards and goals identified with key success factors. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEintstratg.rtf
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Unformatted sample text from the term paper:
organisation. These will vary btween organisations, but if we look to a organisation where teamwork is necessary, this may be anything from the fast food and catering trade to call
centres then the requirements may be explored in terms of internal strategy. If we consider a fast food chain, such as McDonalds, there are several different key success factors.
These include the speed of service, the differentiation of the food, good service and a comfortable, but not too comfortable environment. If we
look at the boarder strategy of the way in which the restaurants are strategically placed to satisfy customers needs and make a profit we need to consider how competitive advantage
is used as this may also be seen as key to the companies success. The company needs to attract customers into the restaurant; there are a large number of fast
food restaurants that compete directly with the burger chain, in addition to this there are also a large number of substitutes. As such the company needs to give the consumers
a reason to visit them instead of a competitor or substitute. Michael Porter has considered the way in which firms compete, and defined two types of competitive advantage. These
are cost advantage and differentiation. These are two different ways a competitor may get the edge on its rivals. For example, if there are two products which are very similar,
neither has the advantage, but if one looks better, or has extra features, it may have an advantage just as if one costs a company less to produce, the company
will have an advantage afforded by superior profits. To compete in the long term Porter has argued that there should be a source of competitive advantage. The development of a
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