Good_Business_Sense

Good Business Sense Brian Collins Axia College University of Phoenix BUS/210_Linda Gettle The three companies that I chose to observe are: McDonalds, Burger King, and TJ Maxx. Although these companies supply different services and products to consumers, they also share similar fundamentals in the industry of business. As for McDonalds their employees responsibilities include: cooking food made to order, keeping up cleanliness in the front and back of the store, cash-handling, handling high customer volume, as well as taking orders from customers coming in and going through the drive-thru. They have also maintained focus on providing their customers with fast efficient service while offering an affordable priced menu to choose from. Their employees are required to multi-task and ensure that their customers receive fresh quality food in a fast and efficient manner. I notice from observing several locations that they strive for maintaining fresh to order food and a good rating with their inspection grade posted in the window. My second observation is Burger King, which is known for their flame-broiled burgers. Their employees responsibilities is similar to McDonalds being that they are Burger king competition. Burger King employee’s task are: cooking fresh to made orders, maintaining cleanliness of the front and back of the store, being able to handle the peak hours while maintaining productivity during the slow hours, cash-handling, and taking orders in the front of the store as well as the drive-thru. Being that they are a fast food restaurant the employees must keep focused on providing their customers with fast and efficient service while supplying them freshly made food. My third observation was the clothing department store TJ Maxx. Their employees’ responsibilities included; greeting their customers as they entered the store, proper monitoring and helping customers in the jewelry department, assisting customers at the dressing room area and making sure that they only try on ten items at a time, stocking, maintaining cleanliness of the store and neatness of clothes racks. They are also responsible for checking out their customers in a timely fashion and processing refunds. Their mission is to provide name brand clothing and other accessories at an affordable price. Their employees also ensure that their customers receive assistance when needed and making sure of customer satisfaction. After observation of these three companies they all hire hard-working employees that will contribute to the success of their company and its effective trademark. They keep their employees up-to-date on any new concepts that will improve their customer service; resulting in increased sales and revenue while widening and strengthening their customer base. The OMM expenses differ in many ways but, McDonalds and Burger King share some similarities because they are both fast food burger places, whereas, TJ Maxx is totally different due to being in a different industry. McDonalds and Burger King OMM costs includes: budgeted labor costs due to hiring teenagers that can be easily replaced and starting pay being minimum wage, ordering of dry supplies and imported food goods, and being that they are a franchise cost of distribution is way more efficient. On the other hand, TJ Maxx OMM cost includes but is not limited to; keeping track of inventory and on occasions hiring an outside auditing company to come in and do their inventory which includes: clothes, shoes, jewelry, and kitchen and household appliances and accessories. They also maintain a cost effective budget because their employees are easy to train in all areas of the store. Their OMM cost also includes the cost of their valuable rewards program that is offered to their customers. They also provide their customers with a frequently updated website so that customers are able to get a sneak peak at any store deals and prices which is included in cost. The OMM costs can affect these companies if it is not managed and maintained properly. Of course they have come up with ways that will reduce their cost or at least stay within a budget. As for McDonalds and Burger King they deal with out-of-state distributors in the wholesale industry which allows them increased profits due to cheaper cost of products. One of the main concerns and issues that could be a challenge for these companies is the deliverance of safe to cook and eat food products. There has been a lot of controversy going on about food poisoning of products being delivered from overseas. This could be a problem for them , their sales, and endangering their customers health as well as possible lawsuits. On the other hand, TJ Maxx OMM cost could be affected by their inventory. Being that they are a clothing department store there are times when they have an excessive amount of clothes that did not sale during a certain season and/or holiday which results in them having to mark the items down and place them on a clearance rack. This could hurt their profits because they already sale clothes that are marked down from their retail value to a reasonable price; and due to a shortage of sales on certain items could put a slight dent in their profit margins for that month. They also at times are affected with costs for returned items that were defected, but there is a possibility that the item can still be sold just at a lesser value. Each company observed has their own particular marketing methods that allow them the competitive edge needed to dominate their market. One thing that they all have in common is that all three has been able over many, many, many years to maintain a consistency of success in their industry despite competition. McDonalds and Burger King providing franchising opportunities, an advantage in the stock market, and ownership of real estate is what makes them profitable and gives them an upper hand in the industry. They both have expanded worldwide and have become known for fast food, efficient service. They are at the top of the food chain in the fast food arena, besides Subway being rated number one on the list; nothing beats hot burgers and greasy French fries. TJ Maxx has branded their name successfully by providing consumers with affordable pricing on name brand clothes. They know their purpose and they know the needs of consumer choice. Being that name brand clothes are marketed through bigger corporations such as JC Penny’s and Macy’s; it makes it an easier market for TJ Maxx with consumers knowing that they provide those same pricey clothes at a cheaper price. TJ Maxx is a well known company that has been extremely successful in the industry of retail sales.