1. Jollibee was able to build the dominant position in fast food in the Philippines because it was based on “Five Fs”: friendliness‚ flavorful food‚ fun atmosphere‚ flexibility in catering‚ and focus‚ which fitted the Filipino customer’s habit. Additionally‚ since it was a local brand‚ it understood the customers well. For example‚ it offered spicy burgers that McDonald couldn’t offer. Furthermore‚ the political and economic crisis that occurred in 1983 led most foreign investors and competitors
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QUESTION 1 Jollibee had a unique company policy that was the embodiment of its CEO’s vision. According to Tony Tan Caktiong – the company’s President and CEO – employees should work happily and efficiently. The company’s philosophy became known as the “Five Fs”: friendliness‚ flavored food‚ a fun atmosphere‚ flexibility in caring for customers’ needs and focus on families. This philosophy was the key ingredient to an effective and well developed operations management capability which gave the
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Jollibee was able to build its dominant position in the fast food industry in the Philippines in several ways. The Company‚ in which the Tan family owned a majority ownership‚ operated on the vision of employees working happily and efficiently. This vision later became part of Jollibee’s “Five Fs” operating philosophy. The “Five Fs” included friendliness‚ flavorful food‚ a fun atmosphere‚ flexibility in catering to customer needs‚ and a focus on families. Throughout the Philippines‚ the Company
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Vision Jollibee Foundation envisions that every Filipino is able to access basic community services and live a life defined by dignity‚ purpose and active participation in nation-building. Mission Together with our partners‚ we help our communities through: * Improved access to Education for the youth * Leadership development for local organizations * Livelihood programs for small farmers * Environment-friendly initiatives * Decent Housing and Disaster Relief for calamity-stricken
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A successful story of JOLLIBEE Jollibee is a fast-food restaurant chain based in Philippines. Where by the founder is Tony Tan CakTiong. Something to share with of the successful story of JOLLIBEE! Tony Tan Caktiong’s Jollibee has been one of the most admired‚ most copied‚ most innovative and most professionally-run company here in the Philippines. It has been the number one fastfood chain overtaking giants such as Mc Donalds and Kentucky Fried Chicken or KFC. How did a local jolly red bee
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Balance Sheets A general ledger is the foundation of a company’s financial records‚ as they constitute the central summary of a company’s financial system. Every transaction is recorded through the general ledger. These records remain as a permanent track of the history of all financial transactions since the opening day of the company (Business Town‚ n.d.). The purpose of any business is to increase the owner’s equity through solid revenues. These revenues increase assets or proceed to decrease
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1. How was Jollibee able to build its dominant position in fast food in the Philippines? What sources of competitive advantage was it able to develop against McDonald’s? Jollibee initially built up its dominant position on a platform of Five F’s: flavor‚ fun‚ flexibility‚ family atmosphere‚ and friendliness. This philosophy fit with the habits of Filipino customers and enabled the firm’s success and expansion in Manila. Flavor was an essential element of this‚ since Filipino customers preferred
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Journal Entries Example Company A was incorporated on January 1‚ 2010 with an initial capital of 5‚000 shares of common stock having $20 par value. During the first month of its operations‚ the company engaged in following transactions: Date Transaction Jan 2 An amount of $36‚000 was paid as advance rent for three months. Jan 3 Paid $60‚000 cash on the purchase of equipment costing $80‚000. The remaining amount was recognized as a one year note payable with interest rate of 9%. Jan 4 Purchased office
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through neglect or fraudulent activity compromise a patient’s personal health information. Channel 13 in Indiana did an investigation on pharmacies throughout our nation which discarded prescription labels‚ pill bottles‚ and patient information sheets with patient’s personal information into their unsecured dumpsters around Boston‚ Chicago‚ Cleveland‚ Dallas‚ Denver‚ Detroit‚ Miami‚ Louisville‚ Philadelphia‚ and Phoenix. When prescriptions are dropped off‚ electronically transferred‚ or called
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1. Suppose the Federal Reserve instructs the Trading Desk to purchase $1 billion of securities. Show result of this transaction on the balance sheets of the Federal Reserve System and commercial banks. > Change in Federal Reserve’s Balance Sheet Assets Liabilities Securities + $1 billion
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