Marketing Strategy Development
A Review of Mission Statement
Fast Food Industry
Prepared for: Dr Tony Lobo
Submitted: 29 March 2010
Prepared by: Wei Zhao
Student ID: 6623484
This report is written to evaluate if the mission statement is still necessary for company's succuss and to review mission statements for five quick services restaurants which are competing in the fast food industry including: Hungry Jack’s, McDonald’s, Domino’s Pizza, Kentucky Fried Chicken and SUBWAY chain.
This report finds that a well written mission statement is able to guide the direction of the company and positively change employees’ behaviours which ...view middle of the document...
Researches of this report could not find McDonald’s mission statement therefore the report reviews the vision statement of the company instead.
The report first gives brief company descriptions about these five companies, then states the mission statement for each company following by the critical review of each mission statements. This report has applied key elements that discussed in Johnson (2008) including Environment, Strategic Capability and Strategic Purports to these five companies. All information comes from secondary data and peered review articles.
2. The need of Mission Statement
A mission statement is both an organizational cultural symbol and an objective technical element of an organization's strategy. It imbued with meaning, reflecting the assumptions and values of the environments in which they are crafted (Biloslavo, 2007). A good mission statement is able to create organizational integration – getting everyone focused on common objectives and working together to pull in the same direction (Mullane, 2002).
A well written mission statement is very useful strategic tool if it is able to get the CEO, the top managers and the people in the organization involve and make sure the mission statement is understood by every level of the company:
* According to Campbell (1997) that a mission statements is valuable for getting senior managers to work out a common view and as a company flag to rally around. It guides the behaviors of all people involved in the company from top to down.
* Klemm et al. (1991) also asserted that the mission formulation process could be used to generate new ideas and promote shared expectations among all levels of employees.
* According to Bart et al. (2001) a good mission statements could positively affect employee behavior when the organization displayed commitment and established internal policies which supported the statement. These positive changes in employee behavior are directly link to the financial performance for a company.
Organizations operate without mission statements are like ships sailing in the ocean without rudders. If they got lucky, they can still sail safely in the ocean. However, if they got back luck, the wind will let them crash into reef and sink.
3. Hungry Jack’s
3.1 Company Description
Hungry Jacks has operated in Australia since 1971. It is a franchise of the international Burger King Corporation and has over 300 stores Australia. Hungry Jack's is now a well established brand in the 'Quick Service Store' segment in Australia. The slogan of ‘The Burgers are Better at Hungry Jack's- has created a strong and well respected brand (Hungry Jack’s, 2010)
Hungry Jack’s mission statement:
‘To be the best fast food hamburger store in Australia in terms of customer satisfaction in product, service and individual store profitability (Hungry Jacks.2009)’
Company position statement:
Hungry Jacks offer the most delicious...