...Five Guys has the Right Combination for Success Strayer University BUS508 Dr. Peter DeDominici August 14, 2012 Five Guys has the Right Combination for Success According to the Five Guys website, Five Guys Burger and Fries (Five Guys) started humbly with one restaurant owned by Jerry Murrell and his family back in 1986 and is now being called one of the largest fast food businesses with over 1,000 locations in the United States and Canada today (www.fiveguys-about Us). Five Guys’ successful model of entrepreneurial leadership included a passion for a good idea, hard work and experiences to build a burger business in the fast-casual dining industry. Jerry Murrell shared his vision and values to his customers through suppliers, employees and now franchisees in a way that has allowed the company’s popularity to soar. To determine how Five Guys’ philosophy sets it apart from other fast-food chains I needed to understand the difference between fast-food and fast-casual dining. In the last several years I noticed that fast-food restaurants like McDonalds and Wendy’s have improved their décor and menu choices. Sanburn (2012) indicated that fast-food restaurants were redefining themselves just to compete with a fast-casual restaurant (like Five Guys). Darren Tristano, executive vice president of Technomic was quoted saying, “Fast casual has raised the bar. When your competitors are doing this, you don't want to lose relevance" (Sanburn, 2012, p.60). I concluded that fast-casual...
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...Running head: Assignment #1 Entrepreneurial Leadership Assignment #1 Entrepreneurial Leadership BUS 508 Contemporary Business Assignment #1 Entrepreneurial Leadership Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Five Guy’s is set apart from other fast-food chains by the history of its origin. Since the company started in 1986 the owners the philosophy was to work out all the details of how to not only create but yet serve the best hamburger and fries. Five Guys uses only the freshest ingredients’ to cook and serve to its customers. In comparison with other fast-food chains in the market place today only two can compare but not surpass the Five Guy’s philosophy. The first fast food chain Wendy’s was created in a similar fashion. In 1996 several years later the first Wendy’s was opened. It philosophy was to also to sever fresh not frozen beef and to be cooked as ordered. This was similar to Five Guy’s however the freshness part was not taken to the same level. Wendy’s used store purchased produce and buns. Five Guys take the freshness to another level of baking the buns they used. The orders were cooked to order but with Five Guy’s you might get your burger a few moments later then Wendy’s but the taste was worth the wait. Customers did like the flavor of the food at Five Guy’s and would often be heard it was worth the wait. Five Guy’s best philosophy was that it went out into the community to local vendors and suppliers...
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...Guys Burgers and Fries: Ingredient’s for Success Right way might be the long way but it always pays off. Five Guys Burgers and Fries, one of the fastest growing fast food chain in the country. It might have took them 15 years to open up their 5 burger chain but it took them a year to open their 300 burger chain. Through their 15 years in business they learned what is right for them. Business - consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. 1. Determine how five guy’s philosophy sets it apart from other fast food chains. Jerry Murrell found Five Guys Burgers in 1986. The first store opened in Arlington Virginia. When Jerry Murrell was interviewed, he says there are five reasons why Five Guys’ Burgers is a big success. 1. Receipt for success is to make really good food with no corners cut. 2. The best sales man is the customer. Jerry Murrell says “ treat that person right, he will walk out that door and sell for you.” 3. Every position at the company has value. 4. Know what you did at–and stick to it. 5. Quality is everything. These are the five concepts that set Five Guys burgers apart from other fast food chains. If you look at Mac Donald’s they sell burgers, chicken sandwiches, salads, burritos, ice cream, milkshake and they even have a breakfast menu, same as Burger King and Wendy’s. You can also look at Pizza Hut and Dominos. They are orig Hi there, i have essay which...
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...Assignment 1: Entrepreneurial Leadership BUS 508 Taura Boykin July 22, 2012 Dr. Ann Pohira-Vieth Assignment 1: Entrepreneurial Leadership Determine How Five Guys’ Philosophy Sets it Apart From Other Fast-food Chains Five Guys follows the philosophy of focusing on a few items, and serving them fresh to order. Five Guys is not your typical fast food chain for a number of reasons, one being that they limit their menu. Five Guys serves burgers made to order, which are fresh and never frozen (Boone & Krutz, 2012). Customers can customize their burger with a choice of 17 free toppings such as ketchup, mustard, and jalapeno peppers. The buns are toasted on a grill for better taste, rather than in a bun toaster. The potatoes for the fries are grown in northern Idaho, and are cooked in peanut oil (Boone & Krutz, 2012). Although they may not have a drive-thru, Five Guys offers a sit down restaurant in a warm, clean environment. Analyze the Original Values for the Start-up Company and How it Remains Strong Today Values of a company play a very important part in establishing a business in today's competitive market. The first Five Guys Burgers and Fries opened in Arlington, Virginia in 1986 by the Murrell family (Five Guys’, 2011). The family opened a carry out burger joint in Arlington, Va., that served hand formed burgers and fresh cut fries cooked in pure peanut oil. The Murrell family wanted to provide good food and to keep it simple. The founder of Five Guys believe...
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...Assignment 1: “Five Guys Burgers and Fries: Ingredients for Success” October 24, 2012 Using the Wiley Plus resources, go to the “Five Guys Burgers and Fries: Ingredients for Success” example. Write a three to four (3-4) page paper in which you: 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. 2. Analyze the original values for the start-up company and how it remains strong today. 3. 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. 4. Assess how ethical and social practices are part of the Five Guys’ culture and provide examples to support your choices. 5. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Five Guys Burgers and Fries started its operations in 1986 by selling juicy burgers and fries. When Jerry Murrell and his sons started off; it was just five stores in Northern Virginia; but now they have 570 store operations in U.S and Canada with approximately $483 million sales as of 2009. The Company has had strong business philosophy since its origin. Along with a novel idea of juicy hamburgers and fries which appealed to the masses; it has been clever in amalgamating it with a unique recipe and fresh...
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...Accounting Information Systems & Processes – ACC00718 Assessment Two. Marks will be awarded for: 1. Understanding and discussion of the topic (30 marks). You are expected to answer each of the questions contained in the assignment. You’re answer should fully address the requirements of each question and be in your own words. Simply restating the contents of the text book, study guide or PowerPoint slides does not show individual understanding of the topic. Your answers should contain enough discussion on the question so as to clearly demonstrate your understanding of the topic area and provide sufficient detail which answers the questions to a satisfactory level. There are no minimum word limits placed on assignment questions, however it is expected that most questions will require between a half page and full page of readable, logical and verifiable information. 2. The extent and depth of research undertaken (-2 marks) Your answers should show wide reading related to the topic question being answered. This would extend beyond the textbook to other texts, newspaper and magazines. Specific resources from the Internet could also be used. Your assignment should also include a Reference List / Bibliography identifying the extent of the research undertaken. Failure to demonstrate extended research or provide a Reference list can result in the loss of up to 2 marks. 3. Presentation: overall look, format (including page breaks between questions), written...
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...Assignment 1: Entrepreneurial LeadershipThis assignment will discuss the successful steps that the owners of the Five Guys Burgers and Fries have been able to accomplish due to the simple business plan that was put into place prior to opening their restaurant. We will see that the basic human principles about how we should treat others; will also allow a company to become successful. The success that has been possible for this hamburger and fries restaurant could have easily failed against the big name restaurants known for burger and fries, such as, McDonalds, Burger King, Checkers and Sonics. However, the company is has become a great success even through a tough economic recession. In this assignment, topics such as their philosophy sets them apart from other fast food restaurants, the original values of the company, three factors that have contributed to their success and external markets and how ethical and societal practices that they provide for their customers and employees.The Murrell family was a close knit family who supported their two sons who decided not to attend college after their graduation from high school. They had dreams of owning their own family restaurant. Their parents invested the money that they had been saving over the years and allowed them to begin their first business. Although they were not sure if the business would be a success or a failure, they were supportive of their sons ideas and dreams with the hamburger restaurant allowed them the chance...
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...Steed BUS 508 Contemporary Business October 26, 2013 Determine how Five Guys philosophy sets it apart from other fast-food chains. In 1986 Five Guys started out as a little family burger operation with five locations and a steady following in Northern VA. Today, there are 570 stores across the U.S. and Canada with sales of $483 million. All Family members remain actively involved, in spite of company growth. One reason that Five Guys are different from any fast-food chain is because they have a philosophy of maintaining the basics, in which they still shadowing currently. For more than two decades, Five Guys has not changed their menu, despite of pressures from other franchises. Five guys believe in keeping it simple, even with their visual images upon entering their establishment. They have a nostalgic setting from a 1950’s diner, and a military canteen, which keeps décor to a mimuim. They have a quality selection of buns in which the supplier is local. They offer ingredients such as sautéed mushrooms, jalapeno peppers and grilled onions. And while the customers are patiently waiting for a great burger, Five Guys offer an unshelled peanut, which has become their famous trademark. Five guys being a fast-food restaurant does what other restaurants offer. They send secret shoppers twice a week to every location, and the family is traveling constantly, visiting every store. By sticking to the basics, five Guys leaves their food print embedded in what others have strayed away from...
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...Assignment 1: Entrepreneurial Leadership This assignment will discuss the successful steps that the owners of the Five Guys Burgers and Fries have been able to accomplish due to the simple business plan that was put into place prior to opening their restaurant. We will see that the basic human principles about how we should treat others; will also allow a company to become successful. The success that has been possible for this hamburger and fries restaurant could have easily failed against the big name restaurants known for burger and fries, such as, McDonalds, Burger King, Checkers and Sonics. However, the company is has become a great success even through a tough economic recession. In this assignment, topics such as their philosophy sets them apart from other fast food restaurants, the original values of the company, three factors that have contributed to their success and external markets and how ethical and societal practices that they provide for their customers and employees. The Murrell family was a close knit family who supported their two sons who decided not to attend college after their graduation from high school. They had dreams of owning their own family restaurant. Their parents invested the money that they had been saving over the years and allowed them to begin their first business. Although they were not sure if the business would be a success or a failure, they were supportive of their sons ideas and dreams with the hamburger restaurant allowed them the...
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...Entrepreneurial Leadership Shayla L. Hardy Dr. Willidean Wilkerson Contemporary Business October 21, 2013 Five Guys’ Burgers and Fries: A Simple Recipe for Success 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Five Guys’ philosophy for success has always been about serving and satisfying the consumer wants and needs. I am sure other fast-food chains thought process about satisfying their consumers are as well with good intentions also, however, Five Guys deliver the product to order. The quality of their food, such as, the meat, which is fresh and not frozen. Their fries are locally cropped and cooked in peanut oil. Where other fast-food chains sale goods as they prepare see fit. Five Guys’ uses the supply and demand rule of thumb very well. The product that is being sold to consumers has to be one that is worth purchasing at any cost. A successful business is one that has a high demand and supply chain. If there is a high demand for a good or service, then the seller must then return that product and or service at a price that that consumer is willing to pay for that particular service. Most of the time if the product is in demand and is something that the consumer must indeed have or want, the consumer is willing to pay at any cost for that good. Five Guys’ philosophy is set apart from other fast-food chains because of what ingredients they use in preparation of their food. They use the top of the line product when preparing...
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...Assignment 1-Entrepreneurial Leadership Five Guys is a hamburger restaurant that was founded by Jerry and Janie Murrell in 1986, in Arlington, VA, as a result of two of their five sons declaring they were not attending college. With their college savings fund Five Guys was born. From 1986-2002 a total of 6 locations were operating in Northern Virginia. Due to their enormous success the company began franchising in 2002. According to the text, as of August 2010 there were more than 670 locations in America and Canada. (Boone & Kurtz, 2012). This paper will determine, analyze, enumerate, and access philosophies factors, and practices that have contributed to the growth and success of Five Guys 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Five Guys’ philosophy is unique in that everything about them is geared towards providing a fresh quality product at an affordable price to each customer that walks thru their doors. Five Guys is not about providing fast food but about the quality of the product. The presentation of the product is important as well. From the quality of the 80% lean beef to the freshly baked buns, and lastly their specially formulated Idaho French fries. Most of their competitors use frozen potatoes that are grown in other states like California and Florida that are grown faster and less expensive. Unlike their competitors such as McDonalds or Burger King, none of their products are pre-cooked all order are prepared when...
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...| “Five Guys and Mommy” | Week 3, Assignment Three, Professor William Vasquez | | David Curtis Parson | 10/27/2013 | | Right things Right That's certainly the case with Five Guys. Five Guys is so successful because though it only sells burgers, it does that extremely well. "They don't try to be all things to all people". They sell to people who want a great burger. They've identified a market big enough that they can do that. But even more important than what's offered is the patron's experience, the owners believe. It has to meet expectations in terms of the price paid for the value they received. The research is quite clear that in terms of consumer expectations regarding a restaurant experience, food quality is No. 1. The ability to deliver a consistent taste and flavor sensation or a tailored taste and sensation is critical to the long-term success. That's why Five Guys doesn't comparison shop, says Murrell, to ensure the quality of their products is top-notch. They have many of the same vendors they did in 1986. Their fresh, made-to-order burgers and fries have been the recipe to their success. They don't plan on changing a formula that's worked for more than two decades, even if they could find products cheaper. For example, the company seeks quality, although more expensive products their bacon comes from Patrick Cudahy, a Wisconsin smokehouse that smokes with natural apple-wood chips. One of the hallmarks of some fast-casual operators is the ability...
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...Running head: “Entrepreneurial Leadership” Assignment 1: “Entrepreneurial Leadership” Abstract This paper will show the analysis of how successful this business has been setting itself apart from other fast food chains in relation to their philosophy, their original values as a family run business all the while giving contributions of success. You will see how the ethical and social practices of this family business as paved a customer appreciated restaurant of today with old fashion hard work and common sense. Assignment 1 – “Entrepreneurial Leadership” Determine how Five Guys’ philosophy sets it apart from other fast-food chains? In today’s fast food market chains businesses have to focus more on nutrition as well as making profits. Today within our health conscience world we now live in and with all the media hype about overweight people in the United States fast food chains need to really market themselves in a way to stand out above others in order to compete. Although the number one goal of any business model is to maximize profits and minimize costs in order to meet shareholders expectations as well as growing the business to maximize profits they now have to be thinking of creative ways to grab the customers and make them feel they are making a well educated guess in eating healthier even though it is still considered fast food. The Five-Guy business model has really been creative in certain ways to capture this. The owner Jerry Murrell believes...
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...An Analysis of Entrepreneurial Leadership on Five Guys burgers and Fries. Assignment 1 By: STUDENT NAME: Rodino Wright TO: Dr. Evangeline Jefferson Professor: COURSE NAME: BUS 508: Contemporary Business STRAYER UNIVERSITY WASHINGTON, DC October, 2012 Introduction The purpose of this project is to examine Entrepreneurial Leadership at Five Guys burgers and fries. According to Boones and Kurtz (2012), business can be defined as all profit-seeking activities and enterprises that provide goads and services necessary to n economic system. (pg. 5). Likewise, according to Boones and Kurtz ) 2012) , Entrepreneur is defined as a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Leadership, according to Boones and Kurtz (2012), is defined as the ability to direct or inspire people to attain certain goals. (Pg. 233). From these terms we will try to create a meaning for the terms Entrepreneurial Leadership. However, according the Fernald, Solomon and Trabishy (2005) , Entrepreneurial Leadership deals with concepts and ideas which are often related to problems that are not of an organizational nature. As a result, in the upcoming project, I will discuss how these factors, in relation to Five Guys Burgers and fries. How does Five Guy philosophy sets it apart from other fast-food chains? After evaluating the reading, I think Five Guys philosophy was to concentrate solely on food and serve freshly made food...
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...ASSIGNMENT 1: ENTREPRENEURIAL LEADERSHIP NAOMI R. BARNES DR. PHYLLIS PARISE BUS-508 CONTEMPORARY BUSINESS JULY 20, 2012 Five Guys philosophy of just staying with hamburgers and fries as the only thing they sold did set them apart from other fast-food chains because of the fact that all those sold was the hamburgers and fries. What the Murrells decided was to do things the way they wanted to do them. No matter what anyone else said they should sale they stuck to their plan of just hamburgers and fries. “What they decided in the beginning was that if they were going to make it, they were going to do it the way they wanted to do it, Murrell says. If we just cooked hamburgers and fries and can make it doing that, we'd be alright.” (QSR Magazine, 8/2011). “There was a lot of temptation along the way to do milkshakes and to advertise and to do a lot of things that we did not want to do, he says. Our philosophy was to stick within their own four walls and have the food do the talking for us.” (QSR Magazine, 8/2011). What sets Five Guys apart from other fast-food chains is the small menu they had of just hamburgers and fries and the other fast-food chains had all kinds of food on their menus from chicken to salads. They decided to do just the hamburgers and fries and nothing else. “Very early the Murrells realized that in order to compete with the fast-food chains, Five Guys would have to concentrate on food.” (Boone & Kuntz, p. 78). “ And for 16 years, that's...
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