Planning is interpreted as the setting of goals and deciding how to achieve them. It also means dealing with uncertainty by formulating future courses of action to achieve specified results. The focus of this paper will be on Burger King, which is the second largest fast food restaurant chain in the US.
Burger King Corporation was founded by James McLamore and David Edgerton in 1954 in Miami, Florida. Burger king is known for serving a high-quality, great-tasting, and affordable food. The purpose of each organization is to achieve its goals. To be able to reach their goals, organizations have to set clear objectives and give people a clear idea of their overall targets. This is the starting point for planning in the management process. Burger King’s reason for being is to prepare and sell quick service food to fulfill customers’ needs more accurately, quickly, courteously, and in a cleaner environment than their competitors. Of course each fast food restaurant has its own strategy in planning their business; this is why a SWOT analysis is necessary in providing with the internal matters comprise of the skills and capabilities an organization has in executing its mission and the drawbacks that hinder the organization; and external matters, which are environmental factors the company may exploit and those that can hinder its efforts in achieving competitive advantage environment.
The internal matters are composed of the Strengths and Weaknesses.
Burger King’s strengths:
• Strong market position
• Franchise mix
• Great financial performance
Burger King’s weaknesses:
• Declining market share
• Market concentration
• Failure in promoting products
The outside matters include the Opportunities and ...
... middle of paper ...
...Team Leader. Retrieved from http://www.youtube.com/watch?v=F4WBEebG2Rc
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Johnson, Ken. (2008, February 07). XFormity Deploys Enhanced Balanced Scorecard Solution for Burger King Franchisees. [Blog post]. Retrieved from http://www.businesswire.com/news/home/20080207005215/en/XFormity-Deploys-Enhanced-Balanced-Scorecard-Solution-Burger
Burger King. (2012). Annual Report. Retrieved from http://www.investor.bk.com/conteudo_en.asp?idioma=1&conta=44&tipo=43575
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