Competative Strategies

In: Business and Management

Submitted By beebaby
Words 1399
Pages 6
Determine how Five Guys’ philosophy sets it apart from other fast-food chains.
Although practicing the same core business philosophy of providing good customer service as many fast food chains, Five Guys seems to have an edge that makes it viable in this monopolistically competitive market. This edge emerges from the company staying true to what initially made it successful and that was the simple concept of providing quality ingredients to their customers. Five Guys’ success seems to have come from concluding early enough to concentrate on the food and provide a simple recipe with fresh ingredients. There is only one main item on the menu at Five Guys besides the occasional hot dog, and that is the burger. It is made of fresh lean meat which can be topped of with several choices of fresh vegetable and several condiments and is accompanied with the ever present potato fries. The menu is not complicated and the food is fresh and tasty.
Analyze the original values for the start-up company and how it remains strong today.
Five Guys was started as a family venture with simple family values at its core and not expansion and or market domination. It was not a bunch of executives designing a formula for market domination; rather it was a father who opened up a humble hamburger take-out shop in Arlington, Virginia in an effort to keep his sons employed and staying closer to home. Decisions affecting the business are made not by shareholders but by the family. “From the beginning the seven Murrells have made business decisions by a unanimous vote. To this day the entire family meets every Tuesday at 1 p.m. at the Lorton headquarters to talk business.” Although the company has expanded via franchising to keep in pace with the ever stretching US market economy, the majority assets are still held by the family giving them free reign to exercise their values and control…...

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