Your assignment task:
In groups of three students, using either your own country or one in the same continent that you live in, carefully research the fast food market and the key players within it to ensure you gain some understanding of the key trends that are shaping the sector. It is important that the country you select is large enough for you to collect data on it. For example India is sufficiently large that ready fast food data should be available whereas Singapore will be too small. The groups will ned to spend time before selecting with country of choice to ensure valid information can be found.
Overall guidance
You are advised to include the group prepared models (discussed below) within an appendix so they are excluded from the word count, but discussion on key elements from them can be made within the main body of the assignment. You are urged not to copy and paste segments of these models in to your report, nor to refer the reader to the appendices, but to include relevant elements as part of your following discussion within the body of the assignment.
Identify the key trends within the fast food sector for your country of choice which have developed over the last 10 years, clearly showing the split (or change in split) between the key brands.
Guidance – You are expected to make links here to an evolving market sector with a speed of change over differing fast food choices and whether new competitors are entering the market in the countries under review
As a group, research the sector and prepare a PESTEL, Porters 5 Forces and whatever other analytical models may support your execution of this assignment.
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In your discussion deliver an audit of the industry sector and the relevant history that brings the sector up to date with the key trends identified that affect both customers and the companies. As part of this discussion, students should consider including some data on the growth of different fast food sectors (Healthy options, vegan, vegetarian etc.) – are any in decline? Have any adjusted their food offer to suit local conditions or heathier needs from consumers. The canvas resources in unit 2 should help you with this section of the assignment.
Evaluate what you think the main opportunities and threats are in this market sector –
Guidance – This is an opportunity to possibly explore how established players in the industry have responded to the more innovative fast food retailers that have entered the market and understand the culture, food preferences and have responded more closely to market shifts. Are there any opportunities that companies can or could take advantage of? Are there any threats within the sector or to companies within it? – Of course, the invasion of Ukraine has created a huge stability threat of oil and gas and so inflation may start to negatively affect sales in this sector.
Explore what further opportunities there are for technological development. What opportunities are there for smaller, more nimble businesses. Can lagging brands make ground up? If so, how? (MBV or RBV?)
Remember that this section should consider the market based view of strategy and the PESTLE model to support your discussion (use the material within units 2 and 3 to support you)
Critically comment on the extent to which technology, innovation and creativity allows new entrants to position within the market, using a resource based view of their strategy
Guidance – We are asking for some researched view on how you see the industry moving forwards. You could review examples of disruptive innovation coming from some companies, or from overseas markets/manufacturers that are shaping the sector?
How could companies, using their own VRIN/VRIO and unique resource base leverage competitive advantage through their internal capabilities. What is likely to happen next….?
To complete this task successfully you will need to undertake secondary research using relevant market data from appropriate sources such as Studynet research, journal articles and news stories. You must use this data and market information to justify your points and apply appropriate marketing theories and models.
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The post 6WBS0008/9: Identify the key trends within the fast food sector for your country of choice which have developed over the last 10 years: Business Strategy Assignment, NUS, Singapore appeared first on Singapore Assignment Help.
