History of Jollibee Foods Corporation Essay

Jollibee is a phenomenal success story when beganTony common topaz Caktiong and his family opened a Magnolia water ice Cream parlor from Bankerohan, Davao City to Cubao in 1975 with Jolibee as the original name. Sometime in 1978, Caktiong and his brothers and sisters engaged the services of a forethought consultant, Manuel C. Lumba. Lumba shifted the business focus from ice cream to hamburgers, after his studies showed that a much larger arrestet was waiting to be exploited. Lumba became Caktiongs starting time business and management mentor. Lumba next re-formed the name Jolibe to cheery Bee and make the two words form a single name, Jollibee, changing the y to an i. They also offering hot meals and sandwiches became in integratedd in 1978 with septet outlets to explore the possibilities of a hamburger concept.Thus was born the company that revolutionized immediate nutrition in the Philippines. The Jollibee mascot was inspired by local and foreign childrens books. Lumba ne xt created the product names Yumburger and Chickenjoy. He had the company incorporated and rent a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba formulated a long-term grocery investment firming strategy tilt up a number of consumer promotions and traffic building schemes. Caktiong stressed that underdeveloped internal strengths was critical. The stores were re-designed, the service transformed into a full self-service, tight- nutrition operation with drive-through. not long after, Caktiong and Lumba went on an observation tour in the United States, accompanied food service and equipment conventions.Caktiong placed Lumba in charge of immunity growingIn 1984, Jollibee hit the P500 million gross revenue mark, landing in the moderate 500 Philippine Corporations. In 1987, bargonly 10 years in the business, Jollibee landed into the countrys happen 100 Corporations. It became the first Philippine fast food chain to break the P1 cardinal sales mark in 1989. In 1993, Jollibee became the first food service company to be mentioned in the Philippine Stock Exchange thus broadening its capitalization and laying the groundwork fo r sustained expansion topically and beyond the Philippines. As the countrys steer fast food chain, Jollibee has grown exponentially on all aspects on operation. From a fistful of stores 32 years ago, Jollibee now boasts of more than 600 stores and over 50 world(prenominal) stores. To achieve its long-term goal to be the countrys food service attracter, Jollibee acquired Greenwich Pizza in 1994. A year later, the company obtained the franchise of Delifrance, an international food company.These moves expanded Jollibees penetration in the pizza-pasta and French caf-bakery segments. In 2000, the strategic acquisition of Chowking solidified the companys stance as the dominant leader. The move gave it leadership in the Oriental quick-service eatery segment. Jollibees rapid growth is due to its superior menu lin e-up, imaginative market programs, and efficient manufacturing and logistics facilities. It is made possible by well-trained teams that work in a culture of integrity and humility, fun and family-like. As a corporate citizen, Jollibee is also committed to give back to its host communities through substantive and lasting socio-civic projects. Jollibee dedicated its continuous success to the Filipinos who have been there from the genuinely start. Jollibee is so well-loved every time a new store opens, in particular overseas, Filipinos always form long lines to the store. It is more than home for them. It is a fixity of heritage and monument of Filipino victory.JOLLIBEE FOODS CORPORATION TIMELINE1975* Mr. Tony Tan and his family opens a Magnolia Ice cream parlor at Cubao. This is later to become the 1st Jollibee Outlet. 1978* bakery is established in Cubao.* Jollibee posts 1st year sales of P2 million* Jollibee incorporates as a 100% Filipino-owned company, with seven Jollibee fa st- food restaurants within Metro manilla as initial network and the Yumburger as flagship product. 1979* Spaghetti Special is introduced* 1st immunity owned store opens at Ronquillo Sta. Cruz. 1980* Jollibee launches its 1st TV commercial.* Jollibee Chickenjoy and French heat up are launched.* The well-loved Jollibee mascot is conceived to support brand awareness and identity efforts. Other mascots are later introduced.* Jollibee launches Chickenjoy, which becomes one of its best-selling menu items. 1981* Jollibee Foods Corporation enters list of Top 1000 Corporations.* Jollibee ended the year with 10 stores1982* Jollibee pioneers the use of in-store promotions, novelty bounty items and Kiddie Birthday packages for kids.* Palabok Fiesta is introduced.1983* The Langhap-Sarap TV ad Campaign is launched.* Chickee and Lady moo sexual union the Jollibee mascots1984* Champ hamburger is launched.* Jollibee enters list of Top 500 Corporations and assumes market leadership in local fast food labor.* Mascots Champ and Hetty join the Jollibee family* WEA gives Jollibee Gold record award for the outstanding sales of Jollibee songs. 1985* Jollibee becomes the market leader of the fastfood industry * Breakfast Joys are introduced.* Langhap-Sarap awarded most effective ad beseech in the food category during the 9th Philippine Advertising Congress 1986* Jollibee wins the 9th world(prenominal) Foods exhibit from El Comestible in Barcelona,Spain * Tony Tan wins the Agora demo for entrepreneurship given by the Philippine Marketing Association. * Top 250 Corporation list include Jollibee Foods Corporation * Jollibee opens its 1st international store in chinaware* Jollibee adds Chunky Chicken Sandwich in its menu.1987* 2nd Taiwan store opens.* Sales of 570 million pushes Jollibee into the elite Top 100 Corporations * Jollibee opens 1st fast food outlet in Brunei, marking its entry into the global market. 1988* Jolly Twirls softserve is successfully launched.* Jollibee s ystem wide sales hit P921 million, further leading market share of 31% in the fast food industry and a dominant 57% share in the hamburger segment. * Jollibee celebrates tenth year anniversary.* Tony Tan is named one of the Ten groovy Manilans.* Jollibee wins the Anvil Award for outstanding PR campaign in relation to the achievement of marketing objective with its Filipino Talents campaign. 1989* 2nd Brunei store opens.* Balut and Ligaw TV commercials wins the Kidlat Award in the Service and Leisure Products category during the 11th Philippine Ad Congress. * Jollibee sales hit P1.3 billion marks, first fast food chain to castigate billion-peso sales mark. 1990* Jollibee adds coleslaw, Jolly Hotdog, Chickenjoy Take-Me-Out and Peach mango Pie to its ever-growing menu. * Jollibee post sales of P1.8 billion* Tony Tan is awarded the Triple Award by AIM as Outstanding AIM Alumnus. * Jollibee receives the Excellence in Marketing Management Award from the Asian Institute of Management. 19 91* Jollibees 100th store opens in Davao City* Jollibee opens a record high of 35 new stores* Opens 1st store away Luzon in Cagayan de Oro City.* Jollibee launches its Pancakes and Jolly Meals.* Jollibee sales hit a whopping P2.65 billion.* The Lola TV commercial wins the Grand Araw Award and an award of excellence for the promotion of Filipino Values during the Philippine Ad Congress. * Jollibee receives award for the outstanding Corporate asylum Consciousness Programs by the Safety Organization of the Philippines (SOP). 1992* Jollibee stages first ever spend musical special for children dubbed A Magical Christmas at Jollitown * Jollibee and the Jollibee Franchisees Association launched the thirtieth anniversary special novelty offering Hug and Share Doll. ingathering of the sales will all be donated to charity. * Biggest and grandest MaAga ang Pasko caps off Jollibees thirtieth anniversary. Total of more than 117,000 toys and books collected were the highest ever in the campa igns 14-year history.Mission and Vision StatementFred David, in his book Strategic management Concept and Cases enumerated key factors in making a rush logical argument. He recognized that a mission statement goes beyond being a statement, for it is a declaration of the companys attitude and outlook. The mission statement of Jollibee Foods Corporation (JFC), although it meets the primary objective of a fast food chain, is too concise and gives sole emphasis to its current services. Thus, the space for improvement was contract down to simply food catering to the target market, taking for grant the other aspects of the business.According to David, a mission statement should be adequate to(p) to allow for the generation and consideration of a range of feasible election objectives and strategies, because excessive specifity would limit the potential of creative growth for the presidency. Also, a mission statement has to be broad to reconcile differences effectively among, and ap peal to, an organizations diverse stakeholders, the individuals and groups of individuals who have a special stake or claim on the company.