Origin :
KFC (Kentucky Fried Chicken) is a global chain of fried chicken fast food restaurants with its operational headquarters in Louisville, Kentucky in the United States. It was developed and built by Colonel Harland Sanders, who began selling fried chicken from his roadside restaurant in Corbin, Kentucky from 1930. Sanders was an early pioneer of the restaurant franchise concept, with the first "Kentucky Fried Chicken" franchise opening in Utah in 1952.
History:
1930 - Harland Sanders opens his first restaurant in the
small front room of a gas
station in Corbin, Kentucky.
1937 - The Sanders Court & Café adds a motel and
expands the restaurant to 142 seats.
1940 - Birth date of the Original Recipe.
1957 - Kentucky Fried Chicken first sold in buckets.
1964 – Kentucky Fried Chicken has more than 600
franchised outlets in the United States, Canada and the
first overseas outlet, in England.
1966 - The Kentucky Fried Chicken Corporation goes
public.
1969 - The Kentucky Fried Chicken Corporation is listed
on the New York Stock Exchange.
1971 - More than
3,500 franchised and company-owned restaurants are in worldwide operation when Heublein Inc. acquires KFC Corporation.
1986 - PepsiCo, Inc. acquires KFC from RJR Nabisco, Inc.
1997 - PepsiCo, Inc. announces the spin-off of its quick
service restaurants - KFC, Taco Bell and Pizza Hut into Tricon Global Restaurants, Inc.
2002 - Tricon Global Restaurants, Inc., the world's largest
restaurant company, changes its corporate name to YUM! Brands, Inc.
2009 - KFC introduces Kentucky Grilled Chicken
2010 - KFC launches the Double Down, the most
talked-about product in the brand’s history.
2011 - KFC opens eco-friendly restaurant in
Indianapolis.
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| Colonel Sanders |
Vision :
“Our passion, as a
restaurant company, is to put a YUM on people's faces around the world,
satisfying customers every time they eat our food and doing it better than any
other restaurant company”
Mission Statement:
žKFC is an internationally renowned fast food
industry in the world. They have the main ambition to increase & maintain
the quality in fast food industry. Their aim is to capture the fast food
market. Basically they want to provide their products to anyone that is
why they expanding their branches in all over the world. They want to
increase their profit through giving maximum satisfaction& other better
facilities to people that they want. Now after catching such a marvelous
position in the International Market, KFC is introducing a new item
“Boneless Fried Chicken” , with even more attractive and charming taste.
Awards and Recognitions:
- KFC has won its second consecutive International Stevie Award for in the Sixth Annual International Business Awards ceremony held in New York.
- KFC won the "Customer Mania Award" during the Champs Challenge in New Delhi.
- KFC won the "Growth with a Big Heart" Award for a staggering 107% conversion during World Hunger Month.
- KFC won the awards “Developer of the year” and “Running Great Restaurants” given by Yum! Restaurants International in Bangladesh.
Products offered:
- Beverages
- Fried Chicken
- Grilled Chicken
- Desserts
- Salads
- Wraps
- Sandwiches
- Sides
- Sauces and others.
Competition and Market Share:
KFC does not consider Mc Donald’s
are its
direct competitors.
As Mc Donald’s has a limited menu and cater to different segments
of societye.g.
Mc Donald is catering to lower middle society of Pakistan. Though KFC
has faced a little competition from local restaurants but their breakeven
in terms of revenue has been done and they are planning to expand
further to other cities like Islamabad and Peshawar.
Unlike what one would expect, KFC has
little rivalry with similar fast-food chains
in Pakistan. The primary reason is that their core products
are different, as in they sell different kinds of fast foods with very different
tastes and styles. For example, if KFC raised its price for chicken by a
small amount, Pakistan chicken lovers who may not be as accepting
to pizzas (many Pakistan people strongly dislike the taste of cheese) are
not going to switch to Pizza Hut just because the price for KFC
increased. In addition to that, these restaurants
have such different target customers that the fluctuation of price
for one restaurant is not going to affect the others. For example, a full
meal at KFC ranges about Rs. 100, whereas a full meal at Pizza Hut
can cost over Rs. 300. The drastic difference in price assures
no price competition between these restaurants.
Customers:
KFC’s customer market consists solely
of the consumer market (Kotler et al 2003). KFC’s products are bought by individuals
(males, females, singles, and families).Therefore, the product range KFC
offer should appeal to as many people within thisconsumer
market as possible, to ensure that the maximum amount of products canbe
sold.
Current top management team:
David C Novak - CEO and President, Yum! Brands
Anne P Byerelin - Chief People's Officer
Jonathan D Blum - Senior Vice President and Chief Public Affairs Officer
Christian L Campbell - Senior Vice President, General Counsel
Richard Carucci - Chief Financial Officer
Emil J Brolick - Chief Operating Officer
Timothy P Jorzyk - Investor Relations and Treasurer
Laurence Roberts - Chief Operating Officer
Organizational Structure:
The KFC adopted traditional structure
for their outlets that other food chains are following.There is
one General Manager. The outlet is leaded by the Manager,assisted by
two assistant managers, and one shift in-charge for each shift,
that supervises the performance of counter workers and kitchen
workers.
SWOT Analysis of the company:
STRENGTHS:
•Refocused international strategies
•Competitive marketing strategy
•Distribution strategy
WEAKNESSES:
•Management Shift
•Conflicts between KFC and PepsiCo cultures
OPPORTUNITIES:
•International Appeal to American products
•Economies of Scale and Scope
THREATS:
•Consumer health food trend
•Saturated fast food industry in the U.S.
market
Corporate Social Responsibility:
Colonel's Scholars:
The KFC Colonel's Scholars Program is about you, your dreams and aspirations, and the perseverance to succeed. This program is offered to high school seniors planning to attend a public in-state college or university. Students who meet the criteria may apply online to become a KFC Colonel's Scholar. Students selected for this scholarship are eligible to receive up to $20,000 to complete a bachelor's degree program.
Social Diversity:
Our approach to building a talented, diverse workforce is built on our major business principles. These principles emphasize the importance of investing in associate recruitment and advancement, both for individual development and for our overall success as a business. As a global company with a diverse and ever-changing workforce, we face significant challenges. For example, our rapid growth in emerging markets like India and Russia requires us to adapt our policies to these markets, and to learn from our new partners. Building a diverse foundation at all of our brands gives us a competitive edge and helps us operate as a local business in international markets. Part of our growth strategy will be to ensure that our leadership team, company workforce and culture are as diverse as our customers around the world.
The Environment:
Yum!'s Global Enterprise Wide Goals for Sustainability, as outlined by our CSO, are to:
Animal Welfare:
As a major purchaser of food products, Yum! has the opportunity and responsibility to influence the way animals supplied to us are treated. We take that responsibility very seriously and monitor our suppliers on an ongoing basis to determine whether our suppliers are using appropriate procedures for caring for and handling animals they supply to us. As a consequence, it is our goal to only deal with suppliers who promise to maintain our standards and share our commitment to animal welfare.
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