Competition Regulates Much of Economic Life in the United States of America
Essay Preview: Competition Regulates Much of Economic Life in the United States of America
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Abstract
As competition regulates much of economic life in the United States of America therefore five guys burger and fries successfully compete and has found the basis for competitive differentiation, the unique or unparalleled combination of organizational abilities, products and approaches that sets five guys burger and fries a apart from other chains in the minds of customer. In this paper I determined that quality and great employee and customer service has set the Five Guys Burger apart from other fast food restaurant and also they are the factors that contributed to Five Guys success in such a short time. Ethics in the restaurant revolve around the role it plays in society, I explained that ethical and social practices are part of the Five Guys culture and provide examples to support my choices.
Five Guys Burgers and Fries Ingredients for Success
1. Determine how Five Guys philosophy sets it apart from other fast-food chains.
Five guys philosophy sets is about food quality and doing it right. They started this business with served only hand-formed burgers cooked to perfection on a grill. They sought out the best ingredients, paying top price for meat, getting a renowned local bakery to bake their rolls, buying the most expensive bacon, and decided they would cook only in peanut oil, which cost five times as much as the oil other burger restaurants were using. They only use fresh products and to support this fact there is no freezer in any Five Guys restaurant.
The quality of the food and service is defined as meeting or exceeding the expectations of the customer as if promised by the restaurant. The food should be properly prepared and the service should be prompt and courteous. The benefit of quality food and service is that customers will come back and will recommend the restaurant to friends. Thats why Five Guys never advertise and they believe that food quality and service is the best advertisement for them, instead they pay bonuses to employee to make them feel like business owners (Mihaela,Valentin,2011).
There is artistry in the preparation of food. Some food can be prepared to be delicious, while another recipe can make a dish that is distasteful. Whether the food is a gourmet meal or a hamburger, the recipe can make it a hit or a miss. But taste of the food is not the quality of the food. The quality of a product is defined as whether it fulfills its stated and implied specifications. The customer expects the food to be what is promised on the menu, to be cooked and prepared properly, to be clean and to have the correct flavor. That is considered quality food. Quality food does not mean healthy food or gourmet food. It is simply what was promised and they are delivering this promise to customers everyday (Vanniarajan, Meharajan, 2012).
Analyze the original values for the start-up company and how it remains strong today.
Jerry Murrell the funder and CEO of Five Guys said “I think people will pay a little extra for food if its worth it.” the original values for the start-up company was the place to get a fresh juicy burger, he also said “in Five Guys what you see is what you get “. When you eat at a Five Guys Restaurant, you can be assured that the quality of the food will be consistent in any Five Guys that you visit. It is what you expect and is considered quality food. Not only are people buying a meal in a Five Guys restaurant, but they are also paying for a certain level of service. Quality service is typically that which is prompt and courteous. That is what customers expect. Exceeding those expectations with extra service is a plus and can overshadow mediocre food.
Enumerate three (3) factors that contributed to Five Guys success in such a short time and what effect, if any, external markets had on these factors.
The factors that contributed to Five Guys success are: food Quality, friendly service and great employee environment. The food quality comes from the fact that they use only fresh ground beef. There are no freezers in Five Guys locations, just coolers. Nothing is ever frozen, they use only Peanut oil and the menu is trans-fat free.
Food and beverages are probably the biggest indicator of quality that a customer notices. Food quality is not only important to the customers impressions of the overall restaurant experience, but it is important for the their health, as well. Guests health should