Assignment 1: Entrepreneurial Leadership
The purpose of this paper is to determine the way the Five Guys’ philosophy sets it apart from other fast-food chains. The paper will explore the original values for the start-up organization and the way it remains strongerat present. The paper will also enumerate 3 factors that added to the success ofFive Guys in such a shortertimeperiod and will explain if there is anyeffect of external markets on these factors. Finally, the paper will assess the way thesocialand ethical practices are part of the culture of Five Guys and will provide the instancesfor supportingthe choices.
Five Guys’ philosophy:
From the time when the “Five Guys Burgers and Fries” was established, they have anticipatedthe plan of their business to be simpler. JerryMurrell said that, “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners” (Kurtz&Boone, 2012). Such philosophy has supported them for beingNo. one favoriterestaurant of customers (Hsu, 2012). Five Guys needed to emphasis on the less advertising andquality of food as possible for standing out from other chains of fast food. Furthermore, they always servefreshfood with burgers that are unfrozen 80% lean patties with sides of Idaho potatoes, fried in oil of peanut (Kurtz&Boone, 2012). Additionally, Five Guysmake certain that the materialis of best quality for satisfying the tasty needs of the customer. Other companies of fast food such asTaco Bell, McDonalds, and Burger King served meat approved with USDA, but the standardofmeat is low. “Pink Slime” is the name of the burger patties served at these restaurants while this meat is made with “Ammonium Hydroxide” (Satran, 2012). The goal of Five Guysis to serving a delicious higher quality burger and making sure that their customers’comfortis met first.
The original values for the start-up organization:
Along withexpanded as a whole in the direction of the company, Five Guys alsoconcentrated on its customers’ care. This allis decided through strengths derived and a lot of core values within their organization; for that reason, below is the innovative recipe of their achievement: • Expound on Natural Talents • Valueand Appreciate Employees • Greater Customer Services • Quality Foods
Secret shoppers audits Five Guys each week;they survey Five Guys on cleanliness, safetyandprofessionalism ("5 reasons why," 2010). Five Guys will reward its employees with $ 1000 which generally is shared between5 to 6employees if they passed the survey areas. Furthermorefor Five Guys, carrying greater customer service is vital, for the reason that they distinguish that clients will share the experience of food with friendsandfamily; thus, certainly the clientsturn out to be greater salesmen grounded on the way they were treated. For Five Guys, these values will remain stronger always, for the reason that it allows respect from the workers to the clients andmakes them marketable.
Three factors that contributed to Five Guys’ success
Because ofthe instant success of Five Guys in a shortertimeperiod, there were definiteefforts that motivated them to a competitive initiative. Following are the factors that added to their achievement (Kurtz&Boone, 2012): • Entrepreneurship • Human Resources • Natural Resources
The contribution of these factors brought forward the vision, creativity, andpassion of the entrepreneurial leadership of Five Guys. Like baked bread, Idaho potatoes andpeanut oil,they used natural ingredients to facilitateclientswho can experience the meal with lesserfatconsumptionand with more values. Additionally, they capitalizedmethods on the way for makinghappytheir employees by pleasing them with additional benefits that involved a job done in a well way. The Murrell’s along with the five sons,not only that, initiated