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Global Business Environment

Case Study

Jollibee Foods Corporation: International Expansion

Submitted by:

Baby Fayrudz N. MaingLevi L. Eugenio

Submitted to:

Prof. Arthur C. Tria

August 20, 2015

Contents

Executive Summary………………………………………………………………………………3

Company History…………………………………………………………………………………3

Problem Statement………………………………………………………………………………..5

Human Resources Issues……………………………………………………………………...5

Operating Management Issues………………………………………………………………...5

Financial Issues…………………………………………………………………………..........6

Marketing Issues………………………………………………………………………............6

Supporting Arguments……………………………………………………………………………7

Industries Analysis…………………………………………………………………………….7

Fast Food Industry………………………………………………………………………… 7

Porter’s 5 forces model for JFC…………………………………………………………….....8

Firm Analysis………………………………………………………………………………….8

Alternatives Strategies…………………………………………………………………………...10

Choosing the Right Strategy…………………………………………………………….........10

Existing Strategy for Jollibee……………………………………………………………...….11

Recommendation for Decision making………………………………………………………… .11

Papua New Guinea………………………………………………………………………...… 11

Hong Kong…………………………………………………………………………..……… .11

California……………………………………………………………………………………. .11

Implementation Plan……………………………………………………………………………. 11

Human Resources Revamp plan………………………………………………………………12

Operations Revamp plan……………………………………………………………………....12

Financial Revamp Plan………………………………………………………………………..13

Marketing Revamp Plan………………………………………………………………………13

Appendix…………………………………………………………………………………………14

References………………………………………………………………………………………..15

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Executive Summary

Jollibee Food Corporation is a Filipino fast food retail chain that was started in 1975 and from then on the company was on an expansion trend. It capitalised the changes in the political scenario in the country and thrived the competition from global players like McDonalds. It went public in 1993 and has been pursuing an aggressive global expansion strategy most of which backfired due to the problems in strategies followed by the company.

The newly appointed International wing chief of the firm is facing the challenge of making a prudent decision regarding three new opportunities that the firm has in the offing, namely expansion to Papua New Guinea, Hong-Kong and California. But before making a move in this direction, the company has to address all the issues that have been prevalent in the organization for a long time owing to lack of long term vision and overall integration of the organization strategies. The firm has been functioning like two parallel organizations with no co-operation and coordination between the international wing and the domestic wing which has proved detrimental in various issues that the firm has been facing.

The organization is operating in a highly competitive industry and has to develop an overall firm strategy to attain sustainable competitive advantage. It is mainly thriving on Franchising and JVs and needs to define the operating relationships with the global associates effectively in order to prevent the disputes that have cramped the firm’s operations many a times.

For crafting out an efficient direction for the firm, the four strategy model for international expansion was analysed and the firm was plugged in to the model and it turned out that the present strategy of the firm is falling in a grey area between the international strategy and localization strategy. Our suggestion is that the firm should adopt a fully fledged transnational strategy so that it can effectively reap the benefits of cost saving as well as local adaptation and there by carving a global image for the firm that has impeccable operations, financial and marketing strategy.

Also, we recommend the firm to go ahead and capture the opportunities in Papua New Guinea as well as California and hold the fire for some time when it comes to the expansion plans for Hong-Kong and look for expansion options in Hongkong only when the prevailing management issues in Hongkong are sorted out. Also, the implementation plan for revamping the operations of various functions have been suggested in the main body of report.

Business Landscape:

Company History;

1975 Jollibee started as an ice cream parlor owned and run by the Chinese-Filipino Tan Family.

1977 Jollibee had diversified into sandwiches after company President Tony Tan Caktiong realized that events triggered by the oil crisis during this year, that would double the price of the ice cream.

August 1977 all of the Chinese managers had resigned leaving Jollibee with only Filipinos in Store- level management positions. Shih was afraid this would further undermine Jollibee's ability to hire crews, as Chinese preferred to work for Chinese.

1978 with five stores in Metropolitan Manila, the family incorporated as Jollibee Foods Corporation.

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1981 the company's first serious challenge arose, when McDonald's entered the Philippines.

Manolo P. "(NOLI)" Tingzon joined McDonald's as a management trainee and spent the next 10 years in frustrating combat with Jollibee.

1983 McDonald's surpassed the per-store sales of Jollibee because of impressive performance of the Big Mac, that led Jollibee to respond with a large hamburger of its own, called the CHAMP.

Political opposition leader Benigno Aquino returned from exile and was assassinated as he stepped off his plane in Manila. The economic and political crisis that followed that led most foreign investors, including McDonalds to slow their investment in the Philippines. But Jollibee pressed ahead, employing nationalistic advertising to capitalize.

1984 the appeal of McDonald's foreign brand and its advantage in per-store sales were fading.

1985 Jollibee first venture abroad, when a friend of a Philippine Franchisee persuaded TTC to let him open and manage Jollibee stores in Singapore.

1986 Corazon Aquino, took office as President, optimism returned to the country, encouraging foreign companies to reinvest.

Jollibee revoked the franchise agreement and shut down the Singapore store. They lost each other's trust.

1988 Jollibee decided to dissolve the partnership and pulled out of Taiwan, when the property market in Taiwan took off and store rent increased dramatically.

1989 Jollibee opened its first store in Jakarta.

1992 Customizing for local taste- the flexibility aspect of Jollibee's Five F's corporate creed stood for a willingness to accommodate differences in customers taste, managers in the International Division believed that menus should be adjusted to local preferences.

When a manager was dispatched from Philippines to respond to Indonesia franchisee’s request to create a fast food version of the local favorite nasi lemak 3 mixture of rice and coconut milk. Kitchner's team created an international menu item called the Jollimeal. Although it accounted for only 5% of international sales Kitchner saw Jollimeal as an important way to localize the Jollibee image.

1993 Jollibee went public in an initial, public offering raised 216 million pesos (approximately U.S. 8 million.

with four successful stores in Brunei TTC identified a key difference in the Brunei entry strategy.

TTC decided that Jollibee's international operations required greater structure and more resources. Because most of his management team was more interested in the fast growing domestic side of the business.

1994 the conflict between the local partners and the managers they had hired paralyzed the operation to a new franchisee.

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TTC decided to hire an experienced outsider as Vice President for international operations Tony Kitchner, a native of Australia, who spent 14 years in Pizza Hut's Asia Pacific regional office in Hong Kong.

Kitchner's choice of market rested on two main themes that he had formulated during planning session in the fall 1994 targeting expats and planting the flag.

Manolo P. Tingzon took on the challenge to launch Texas Chicken another U.S. fast food chain, in its Philippine entry.

The acquisition of Greenwich Pizza Corporation.

1995 formation of joint venture with Deli France.

1996 diversified the company's fast food offerings.

TTC realized that he could no longer support Kitchner as the expansion strategy was costing heavily and they were losing a lot of money. In February 1997, Kitchner left Jollibee. After Kitchner, Manolo P (Noli) Tingzon took over.

1997 Shih's Chinese managers had suggested serving tea the Hong Kong way -using tea dust rather than tea bags and adding evaporated milk.

July 1997 Manolo P. Tingzon was intrigued by the opportunity offered by his old nemesis and joined the company as General Manager International Division.

Problem StatementThe newly appointed head of International division Mr Manolo .P. Tingzon is pondering into three key opportunities that the firm Jollibee Food Corporation is having for further global expansion namely Papua New Guinea, Hong Kong and California. For taking the above decisions the organisation has to address various issues mentioned below under the various functional heads:

Human Resource Issues1. Strained International – Domestic Relationship: The international and domestic operations

of Jollibee Food corporation lacked cooperation and coordination among them. They had several issues between them like recruitment, pay structure and issues of menu adaptation.

2. The organisational structure of Jollibee was not supporting it in the international business.3. Cultural Differences: There were Cultural differences among teams working at domestic end

and at international end which led to disagreement on various opinions. For example the suggestions from Chinese managers were not considered by management.

4. Management issues at Hongkong: There were many management issues at Hongkong branches of Jollibee which were affecting its operations, quality and revenue collection. Some of them are enlisted below:a. Staffing Issues: Less Chinese staff members leading to reduction in Chinese customers

as Chinese customers were not very comfortable with Philippine and Nepalese staff.b. Cultural incompatibility among staff i.e. between Chinese staff and Philippine staff

working at Hongkong stores.

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Operational management issuesIn Jollibee Inc, several disputes where rising in operational management due to the following reasons, Improper co ordination between the parent company and the international operations lead several disputes in franchising, menu card (standardization) and absence of research and development centre as such to scan the taste buds of localities of individual regions.

1. When Mr. Kitchner was as a change driver for international operations, he gave responsibility of running day today activity of the store to an individual person for every store called FSM. This lead to an incongruent strategy alignment between the parent company and franchises.

2. Menu card standardization was absent which essential in a global food chain to give customer the same level of satisfaction no matter whichever store he steps in.

3. Research and development privilege was wholly vested with the parent company.

Financial issuesFor the long term success of any firm, it is highly imperative to have a stable and prudent financial management system. The focus should be on a strategy that takes the long term as well as shorter objectives of the firm in tandem. As identified from the case, the following are the noteworthy financial aspects of the firm:

1. Company’ revenues, net income, operating income, and royalties and franchise fees have been increasing rapidly for the period under consideration.

2. Inventory turnover has improved showing an improvement in working capital management over the years.

3. Based on the financials, Jollibee has a good cash position so it should use the cash to pay its

suppliers regularly which will build a long term relationship with the suppliers.

4. Cash on hand is continuously increasing which is very positive sign however EPS has

decreased 19% from 1994-96 largely on account of a bank loan. Therefore the cash at hand

should be put to better use and help ensure early repayment of loan.

The aforementioned aspects have put the company in a better stead. But, there are a few other facets that create concerns:

1. Accounts receivable as a proportion of Sales has increased over the years.2. Long term debt outstanding has increased dramatically and the servicing of the same has

put a pressure on the solvency position of the company.3. Cost of sales has increased over the years. This is a natural fact, but the alarming part is

that the growth in cost of sales has been much higher than the sales itself, putting a pressure on the margins of the company.

4. The global expansion of the company has been extra-rapid and made in haste to capture the market as a part of the “plant the flag” strategy. As evinced by the statement made by TTC in late 1996, this has put a serious pressure on the financials of the firm and the firm did not have the financial muscle like global giants to go for the loss-leadership strategy. Thus the budget allocation and management was in a grey area.

Marketing Issues1. Choosing which international markets to target first and decide on an optimal strategy to enter

these markets.2. Identifying target segment in each country.

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3. Choosing a core competency.4. Deciding to what extent the standard menu can be modified to suit taste of local consumers.

Supporting Arguments

Industry Analysis

Fast food Industry The fast food industry has a lot of unique characteristics:

1. Quality of food and time of service is of utmost importance2. Each firm in the industry has a standard set of cuisine. The menu is limited and items are

cooked in bulk in advance, kept hot, finished, packaged to order, and available to take-out, drive-thru, and dine-in.

3. Profitability is dependent on high consumer traffic, location of stores and tight operation management.

4. Firms mostly operate through franchisees and expansions of critical mass is required to achieve economies of scale

5. Highly capital intensive.6. Chain wide consistency and reliability are major factors of success7. Number of competitors is very high.

McDonald's is one of the most famous fast food joint in the world. McDonald's became No.1 in every country of more than 100 countries in the world except Philippines where JFC has been overwhelming strength against McDonald's. In 1981, JFC faced serious challenges from McDonald’s when they entered Philippines which forced JFC to change their existing strategy of targeting only the domestic market with a standard local fare.

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Porter’s 5 forces model for JFC

Firm AnalysisStrengths:

Leadership in local Philippine market. Strong financial resources. Expertise in doing business in international markets. Well developed operations management capability (ability to provide quality products at

affordable prices). Diversity in product offering after the acquisition of Greenwich Pizza and joint venture with

Deli France. Speed and timeliness of deliveries because of the locations of the commissaries. Portfolio can serve various segments of the market and pass the winning culture of Jollibee on

the other business units. Highly motivated and well-trained personnel Good operations management High domestic market share Quality consistence in terms of taste and availability Responsiveness to competition

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Rivalry among Competitors: HIGH

Rivalry stems from Price wars, marketing innovations,

good food, good service. Most rivals are equal in capabilities and opportunities which make

competition stiffer

Threat of Substitute PRODUCTS-LOW TO

MODERATE. Products from local street food is a threat but

Jollibee has advantages in terms of brand name, superior service and reasonable price

Threat of new entrants to Industry- LOW

High entry barriers in the form of brand preference of consumers, technological

know how, access to strategic locations and distribution

channels, capital, economies of scale etc.

Bargaining power of suppliers: LOW

Strong relations with existing suppliers, trade restrictions for imported raw materials,

food standards etc. limit power of suppliers

Bargaining Power of Consumers: VERY HIGH

Consumer traffic and loyalty determines profitability of

firm

Innovative receipies e.g. rice based meal

Weaknesses: The expansion of business in international markets based on the flawed strategy of ‘Planting

the Jollibee flag’. Absence of proper methods to select franchisees. Too much dependence on Filipino expatriates and inability to cater to the needs of the local

residents of other countries. Weak promotional campaigns in international markets to promote Jollibee as a global brand. Based on the graph: 1(Refer Appendix), it can be seen that the operating profit margin is very

low over the period from 1992 to 1996. Operating margin is around 11% to 13% over the years which mean Jollibee could not improve its operational efficiency.

Based on the graph: 3 (Refer Appendix) it can be seen that the inventory cycle of Jollibee is around 25 to 30 days from 1992 to 1996 which is very high for a fast food business. It means that company is taking longer time to sell its products.

Based on the graph: 2 (Refer Appendix) it can been seen that Jollibee could not utilise its assets productively as Return on assets had decreased from 28% in 1992 to 17% in 1996. It means that the new stores abroad did not give the desirable results.

As per the Graph: 4 (Refer Appendix) it can be seen that the average payable period had been increased from 74 days in 1992 to 111 days in 1996 which means that they are delaying the payment of suppliers. This can damage the long term relationship with the suppliers.

Lack of communication within the organization during the formation of International Division which led to infighting amongst the two divisions.

Bias towards friends and relatives while selecting local franchisee partners.

• Lack on in-depth planning and research in the expansion to foreign markets.• Rift between international division and Home division - no consensus could be reached• Lack of global brand recognition• Beuracratic structure.lengthy process for approvals to be sanctioned • Over reliance on the Filipino market ( targeting the expat strategy)

External Analysis:

Opportunities: Untapped locations with fewer or negligible competition from fast food chains. Widen product range to include more local food items. Make new acquisitions of profitable food chains in other countries. Create differentiation by cost advantage, customer experience etc. Impart global culture by hiring non-phillipine managers Locating commissaries in the same country through joint ventures could be a potential source

of success for the company

Threats:

Political Instability. Competition from local well established food chains. Dining habits of local people eg. More preference to dining than fast food. Shift of preferences of people to more health conscious items. Epidemics like Bird flu, Mad cow diseases that make procuring of raw material difficult. High set up cost due to high standard of living. Reduction in entry barriers like favourable policies, tax incentives etc lead to increase in

foreign competition. Downturn in economy. Rise in operational cost like cost of power, labour etc.

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Tough competition from from both international companies and local small-hold SMEs in the food industry.

Rapid expansion plan may backfire Philippines division might slow their implementation Increase in transportation costs and the prices of transported materials and products.

Alternative Strategies

Choosing the right strategyWhen analysing the case study it is clear that Jollibee Inc. has higher pressure to respond to local wishes in Philippines due to the entry of global giants like McDonalds. This is due to the fact that Jollibee had a strong presence in Philippines but at the same it should tackle the adaptation pressure from McDonalds. This is also supported by the fact that Jollibee was franchising their brand to foreign countries on very strict terms which do not allow any changes to the menu.

According to the grid below this would mean eliminating the international strategy and the global strategy. Now analysing the strategies which require standardization (provides cost benefits) and differentiation, the transnational strategy is applied by large firms such as car manufacturers, they have to adopt the cars to local wishes or they will not sell. The Multidomestic strategy often involves having very different lines of products, yet there is no real cost pressure. Both strategies perfectly align to Jollibee’s business model, so the four grid model is used for evaluation in the sense that Jollibee is correctly placed in the vertical axis of the model.

On the horizontal axis Jollibee has two distinctly different moments. During the expansion plans to become a multi domestic the company enjoys low responsiveness pressure because the target segments are expats and Hispanic population. Once it is established the company is in need to adopt the local taste buds so there is an increase in the responsiveness consideration. Since Jollibee needs to maximize return on investment after establishment, it has to follow a transnational strategy to keep the competition at the bay and tackle the competitive pressure.

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The above diagram describes the four strategies which a firm needs to follow for international expansion depending upon the market requirements, pressure from competitors, firm specific motivation driven by firm’s core competencies. The proponents of the model have suggested that the strategy of a firm should evolve over time among these four strategies to be in better stead in facing global competition.

Existing strategy of JollibeeJollibee entering the markets without any clear cut idea, since Mr. Kitchner strongly believe in gaining the first mover advantage, Jollibee is expanding into the markets where the competitors little are no presence, to “plant the flag” without any long term perspectives. The company’s strategy can be more identified with the international strategy where the locus of power lies with the parent company in the Philippines. With much of happening in the international arena too. After Kitchners got hired, he encouraged localization by separating international business completely from the domestic ones.

Recommendations for Decision making

Papua New GuineaAs evident from the data given in the case, it is quite evident that the company is having immense opportunities in Papua New Guinea. As the market there is untapped and the only competitor there is an unorganized and unprofessional local company, Jollibee can literally get a first mover advantage. So the company should go for Papua New Guinea, but proper background research about the prospective partner as well as assessment of the credibility of the fundraising proposed needs to be carried out.

Hong KongCurrently all the three stores established in Hongkong are facing lot of management issues as mentioned in the problem statement hence it is required that first this management issues must be sorted out rather than putting additional resources in expansion plans.

CaliforniaCalifornia expansion seems to be the good option for several reasons. United States is the largest fast food market in the world. They discovered from their outlets in Guam that there were many elements of their restaurants that appealed to Americans. They have a large and diverse population who like experimenting food of different culture. They also had great support from Filipino-Americans. So, the company has to start with focusing on both the Filipinos as well as local people and design the menu that would help maintaining the brand identity along with catering to the local interests. To put it simple and straight, Company needs to adapt a trans-national strategy.

Implementation PlanIt is the very evident that transnationational is the only way forward for jollibee, When going for multidomestic as a strategy only a certain amount of flexibility and autonomy be provided to partners. This becomes more of an arms length dealing, trust was lacking in the relationships. A holistic co ordination is required to transfer core competencies or to pursue experience curves and location

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economies. Which is possible only in a transnationational entity. This smooth transition can be enabled by inter unit co operation, decentralizing the organizational structure and following a geocentric approach. Also to implement this strategy and carry out expansions following schemes of actions must be taken in various functional departments.

Human Resource revamp plan Balance between centralization and decentralization of power: Jollibee should allow

certain level of decentralization of power for its franchises in other countries for operating decisions related to product, marketing and human resource management. Also certain number of R&D centres could be opened in other countries to facilitate localization of some products. At the same time decisions regarding overall firm strategy, financial decisions and quality control must be taken care by headquarters in Philippines.

Reforming Organisation Structure: Jollibee should adopt an organisation structure which enables it to transfer its core competencies and global learning across the stores. Also it should support value creation activities in the value chain for more efficient operations. One of such kind of structure is flexible matrix structure which provides a common vision and culture. This structure will enable the cooperation and coordination among domestic and international operation units.

Training: In order to facilitate cooperation among units the staff members who are required to coordinate with other units must be given training on cultural differences and adaptability in workshops. By adopting this practice Jollibee would support its staff to understand the cultural diversity among nations and different market needs.

Hongkong Management issues: Hongkong management issues can be sorted by adopting above mentioned strategies. Certain level of decentralization of power will enable the managers at Hongkong stores to take decisions on various aspects of product, operations and marketing as per the local requirement. The staff members who are trained in culture diversity workshops must only be sent from Philippines to Hongkong for supporting the operations and training of locals. Also there must be recruitment drive to hire local Chinese managers with attractive compensation. This will enable hiring of Chinese crew members and hence increase in customer traffic. Also initiatives like team work and cultural diversity workshops must be conducted to increase compatibility among Philippine and Chinese workers. This plan would enable Jollibee to implement operation, marketing and quality control mechanism effectively and enhance the market share.

Operations revamp plan Polycentric establishment of research and development centre. The flag can be planted in

regions where people have similar taste buds as strategic business units (SBU). So that the menu can be varied according to regional taste.

Once the company starts to follow transnational strategy, location economies and operational efficiency should be taken into consideration so as to reap the benefits of both cost structure and differentiation.

Lessons learned should be internalized, so that lack of operational efficiency problems as in Singapore, transparency issues as in Taiwan can be avoided in the future international expansion.

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Financial Revamp Plan Slow down the global expansion to sustainable levels. This means that the international wing

should slow down a bit and the domestic wing should buck up a bit so that the entire organization can move ahead together. The financial management should be done effectively so as to provide enough budgets for the R&D and associated activities that are needed for the global expansion.

Also sufficient funds should be made available for the marketing and positioning activities for these are highly imperative in creating an identity for the firm and thereby helping in capture the market.

Opening multiple stores at the same time will hurt the bottom line and will increase debt. Even for a global giant like McDonald’s, it took 20 years for their international operations to account for 50% of total sales. Also, they must reduce cost of sales. This can be done by devising a proper strategy of global expansion that can reduce cost and bring in economies of scale.

Also the relations with franchisees and other associates should be clearly defined and the degree of control of the financials should be clearly defined to avoid future confusions. The ramifications of poor relations are clear in the closing down of many franchisees abroad.

There has been a year on year increase in cost of sales from 13% in 1992/93 to 46% in

1995/96, however sales during 1995/96 has only increased by 24%. Suitable ways must be

found in order to decrease cost of sales.

Year on Year Sales Cost Increase.

Year

Percentage Increase

1992/93 1993/94 1994/95 1995/96

46% 34% 28% 13%

Jollibee has been expanding rapidly in the international market which is a good sign but the

company’s operations are not well managed as the inventory period is very high which means

inventory is kept idle so as to avoid it, company should improve its operating efficiency.

Marketing Revamp plan Jollibee had been following the first mover strategy under Mr. Kitchner and had concentrated

on “Planting the Flag” i.e. opening a lot stores in countries in a short span of time irrespective of financial constraints. Jollibee should instead follow a differentiated strategy wherein it should target those markets with high potential with an economy similar to that of Philippines like Papua New Guinea and observe the first mover strategy to capture these markets first. For established market with high potential such as USA, Europe, it should go for joint ventures and acquisitions with established firms in these nations.

The focus target segment in every country has been expats from Philippines which has been largely successful. But it should not exclude the local populace of the host nation. Its marketing initiatives should target the local populace and it should position itself as a global fast food brand which offers “exotic Filipino cuisine” for everyone.

Its core competency should be “authentic Filipino fast food with good service and quality” The menu of Jollibee should have a mix of standard food items as well as items specific to a

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host nation. To achieve this, they should set up R&D divisions in each country and come up with new dishes to cater to local consumers like McDonald’s which came up with Mc Aloo Tikki Burgers for India and which was a big hit.

Appendix

1992 1993 1994 1995 1996Profit MarginOperating profit 280 364 458 590 780Net profit 201 292 403 538 602Revenue 2296 2702 3606 4851 6904Profit Margin 8.75% 10.81% 11.18% 11.09% 8.72%Operating profit margin 12% 13% 13% 12% 11%

Asset Utilization

Operating profit 280 364 458 590 780Total Assets 1013 1375 1926 2645 4537Asset Utilization 28% 26% 24% 22% 17%

Inventory Turnover

Cost of sales 1469 1663 2133 2858 4180Inventory 116 135 183 201 323Inventory Turnover 12.66379 12.31852 11.65574 14.21891 12.94118Days in Inventory 28.4275 29.22429 30.88608 25.3184 27.81818

Account payable Period

Cost of Sales 1469 1663 2133 2858 4180Accounts payable 297 323 497 715 1274Payable turnover 4.946128 5.148607 4.291751 3.997203 3.281005Payment period 73.7951 70.89296 85.04688 91.31386 111.2464

Table: 1

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Graph: 1

1992 1993 1994 1995 19960%5%

10%15%20%25%30%

Asset Utilisation

Asset Utilisation

Graph: 2

1992 1993 1994 1995 199605

101520253035

Days in Inventory

Days in Inventory

Graph: 3

1992 1993 1994 1995 19960

40

80

120

Payment period

Payment period

Graph: 4

15

1992 1993 1994 1995 19960%2%4%6%8%

10%12%14%16%

Operating profit marginProfit Margin

References International Business, By Charles W L Hill and Arun K jain (McGraw Hill Companies), 6th

Edition Transnational Management, By C.A Bartlett and S Ghosal 3rd edition Jollibee website

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