Different Opportunities for the Business - Essay Example

To make the most out of a restaurant business and make a name in the industry, it is advisable for new entrepreneurs contemplating establishing their businesses in the food industry to conduct a detailed study of the success stories of the past.
To facilitate them with this process as well as to make an original contribution to literature, this paper discusses what criteria a budding restaurant needs to meet to set foot and expand in the highly challenging and competitive contemporary food industry. This paper uses Porter’s Five Forces model to examine a restaurant’s competitive environment. Taking McDonald’s as a case study, this paper discusses the threats and opportunities an expanding restaurant faces today and the advantages and disadvantages associated with its strategic moves. McDonald’s is one of the most successful fast-food chains of all time. Read More