How Business And Maximum Efficiency?

The business that I want to open would be a franchise of a McDonald’s restaurant. McDonald’s is a fast-food restaurant that serves a variety of products, but is mostly known for its

To explain the how the fast food industry affects the lives of it’s employees, I have prepared a set of questions to ask employees who have a fundamental experience of working in the fast food industry (appendix[i]). I also have a similar set of questions to ask people who have never worked in the fast food industry (appendix[ii]).

Chick-fil-A is one of the most successful fast food restaurant establishments in the country. With over 1,300 locations in 37 states in the Southern U.S., they continue to grow the brand by expanding to new territories (Chick-fil-A Company, 2009, para 1). In 2008 Chick-fil-A has seen a 12.17 percent sales increase over the chain’s 2007 performance and a same store sale increase of 4.59 percent (Chick-fil-A Company, 2009, para1). Throughout the years Chick-fil-A has come up with many innovative ideas to continue expanding business and satisfying their loyal customers. One of the ideas was to offer different types of restaurant set-ups to cater to customer’s needs. The different restaurant set-ups include mall/in

Many businesses are implementing technology to combat wage increases and remain competitive. Many larger retailers, such as Walmart and Kroger, have effectively maintained self-checkouts for customers for years. The self-checkout area may have four to six registers, manned by one associate. Larger gas stations are implementing new technologies, as well. Quick Trip(QT) has installed a system that allows the user to order food and drink by touch screen, print a ticket and pay at the regular counter, eliminating the need for extra cashiers and registers. They serve a variety of items such as specialty coffees, smoothies, pretzels, pizza, sandwiches, ice cream and more with their user-friendly system. In addition, pay at the pump has provided relief at long lines of gas stations for years. Restaurants such as Wendy’s, McDonalds, and Panera bread are currently investing in kiosk to serve the future needs of their customers. Wendy’s will have 6,000 locations equipped with kiosk by the end of 2016. "With the pressure on wages and minimum wage increasing in some places, (restaurants) are motivated," said Bob Welcher, president of Restaurant Consultants Inc. "From an operational standpoint, I can see the advantages." Welcher also adds that “The kiosks are more precise. They always are courteous. They always show up to work on time." (Malone, JD. "Wendy's embraces self-order kiosks." Columbus Dispatch, The (OH) 17 May 2016: Newspaper Source. Web. 9 Dec. 2016.)

One of the main themes that Brave New World tries to get across is that efficiency is not necessarily a positive thing, especially in terms of the contemporary world and it’s constant improvement of technology to make life as convenient as possible. The author, Aldous Huxley, wrote a letter to George Orwell in 1949. "I feel that the nightmare of Nineteen Eighty-Four is destined to modulate into the nightmare of a world having more resemblance to that which I imagined in Brave New World. The change will be brought about as a result of a felt need for increased efficiency"(18). Huxley implies that even though we want everything to be as efficient as possible, it is not necessary. The book itself goes even further to show that efficiency can actually be dangerous when it is the main priority of a society.

From a study completed by Chicago-based Research International USA completed a study called “Fast Food Nation 2008. The panel consisted of 1,000 respondents of ages 16-65 who provided their inputs with an online survey which was conducted between March 13 through 2008. Which was based on results on fast food restaurants like McDonald’s, Burger King, and Wendy’s are gaining popularity even through the economic hardship and recession. Marketing strategy has become more of influence on kids and young American’s. As population grows and the demand increases of fast food restaurants are expanding their stores to capturing more consumers. Fast food chains are also willing to change their menus to continue to gain and retain repeating customers.

A new fast food restaurant will have a hard time competing with the larger established restaurants. The new ones do not have the resources to battle back when they are challenged on price or advertising. The price sensitive consumer is going to choose the lower priced option unless the location of the new restaurant is exponentially more convenient. This is hard to accomplish since many fast food restaurants have multiple locations across the same city.

Introduced in Week 3 my company, ZapIt Incorporated, has created a smartphone mobile application, to be used by consumers to make grocery purchases and leave without having to wait in a checkout line. The ZapIt team strongly believes this application will be a game-changer in the

The fast food, or quick service restaurant industry (QSR), represents approximately 200,000 restaurants and $155 billion in sales in the U.S. alone, they are one of the largest segments of the food industry (Hoovers, 2011). This segment of the restaurant industry is “highly competitive and fragmented… number, size and strength of competitors vary by region, market and even restaurant. All of these restaurants compete based on a number of factors, including taste, quality, speed of service, price and value, name recognition, restaurant location, customer service and the ambience and condition of each restaurant” (Chipotle, 2010).

Management was quick to adopt many fast casual concepts in its efforts to reignite growth. This includes updating stores to create an inviting atmosphere, offering healthy alternatives and using high quality ingredients in their menu items. On top of this, frequent menu updates and limited time promotions have paid dividends. The McPick 2 and shift to all day breakfast have been key to boosting comparable store sales and traffic trends. Last quarter the quick service restaurant posted flat revenue growth after 6 consecutive quarters of negative comparisons.

When you go to a restaurant or a fast food establishment, you are greeted by a server or a cashier, but in the future, there may be no need for them. When you go into a fast food joint, you can walk up to a screen and casually look at the menu while you decide what you want to order. Your order will be sent to the back, your food is made, and you’re notified when it is ready for pick up. This ensures that there are no risks of your order being wrong and releases the pressure of being rushed by completely removing the social aspect of it. The same applies to a restaurant with a server, a host will show you to your seat and you can use a digital menu to order your food. A server can bring you your food, but after that point there are minor necessity to them. At the end of your meal you will also be able to pay your bill without having to interact with anyone. The customer will have a window where they will see their server and then don’t have to see them again unless they choose to.

The always changing industry trends are a kind of strategy that the business owner should always be aware. This is because the business must be able to keep abreast of the changing industry trends in order for the business to survive. Top Take Away restaurant will always introduce a new dish every month as well with some promotions to make sure that

The effects of automation contribute to job loss and gain in the fast food industry because of machines replacing workers. According to Fortune.com “McDonald's announced that it would roll out digital self-order kiosks and table service in all of its 14,000 U.S. stores.”[1]. Since McDonald’s is placing new ordering machines in their stores more people will want to use them since their new and less people be needed to take orders. Thus causing people to lose jobs to machines. Also according to Fortune.com “Customers will be able to order at touch screens and then pick up a number with a digital locator, which will allow employees to serve them at their tables.” [1]. Now that McDonalds is going to start having workers deliver food to customers that use the kiosks they are combating the loss of jobs. This will allow for more efficient work while still keeping the man in the equation. Since there are jobs being lost due to the automation of the ordering system along with jobs being created do to the new service of delivering the food ordered from the machines there is clear evidence of job loss and gain.

Formerly discovered, efficiency and profitability are positively correlated. Hence, when the profitability of banks ameliorates their efficiency improve along. In contrast to Shaffnit et al. (1997), the impact of profitability and efficiency on each other is trivial (Akmal and Saleem, 2008). Initially, once we come across the study of banking efficiency, what usually pops into the heads is; why the efficiency of banks matters to managers, regulators, shareholders, and consumers. The reply to the above query is diverse for each of them as it relies on their standpoints (Kumar and Gulati, 2008).

Efficiency is the ability of an entity to use alternative methods of production to get better outcomes. It is applied in production where equal input which relates to cost is lower compared to output in an organization. Allocative efficiency ensures that the correct mixture of input to get maximum output (Palmer & Torgerson, 1999). The study of economics means that there are limited resources to produce for the public and meet the needs of the consumers. Efficiency is intended to minimize the cost of production which trickles down to lower prices and higher demand.