Careers at Yum! Brands
Yum! Brands’ mission is to put a YUM on people’s faces around the world, satisfying customers every time they eat its food and doing it better than any other restaurant company.
Yum! Brands is a fast food company. The firm operates five reportable business segments:
- YUM China – Includes all operations in mainland China
- YUM India – Includes all operations in India, Bangladesh, Nepal and Sri Lanka
- KFC Division – Includes all operations of the KFC concept outside of China Division and India Division
- Pizza Hut Division – Includes all operations of the Pizza Hut concept outside of China Division and India Division
- Taco Bell Division – Includes all operations of the Taco Bell concept outside of India Division
In 1958 brothers Frank and Dan Carney received a suggestion from a friend to open a pizza parlor in their hometown of Wichita, Kansas. Sensing an opportunity, they rented a building and bought equipment. A year, they incorporated their company, called Pizza Hut. By 1971, the business had grown to become the largest pizza chain in the world. In 1977 it was purchased by PepsiCo.
Glen Bell was a World War II veteran who had worked in the restaurant sector for two decades. In 1962 he opened a hot dog stand in San Bernadino, California. He soon launched a Mexican-themed restaurant called Taco Bell and decided to franchise it. It proved successful, and by 1970 it was generating annual profits of $150,000. In 1978 it was acquired by PepsiCo.
In 1952 Harland Sanders founded chicken restaurant chain Kentucky Fried Chicken. It became a huge success, and was purchased by PepsiCo in 1986. In 1991 its name changed to KFC Corp. In 1997 PepsiCo grouped Pizza Hut, Taco Bell, and KFC into a firm called Tricon Global Restaurants and spun it off. In 2002, after a number of acquisitions, Tricon Global Restaurants was renamed Yum! Brands.
Business model of Yum! Brands
Yum! has a mass market business model, with no significant differentiation between customer groups. The company targets its offerings at consumers who desire fast food.
Yum! offers three primary value propositions: accessibility, risk reduction, and brand/status.
The company creates accessibility by providing a wide variety of options. It operates both traditional quickservice restaurants (which feature dine-in, carryout and in some cases, drive-thru or delivery services) and non-traditional units -- which feature express units and kiosks and have a more limited menu, and operate in non-traditional locations such as malls, airports, gasoline service stations, train stations, subways, convenience stores, stadiums, amusement parks and colleges.
The company reduces risk through high quality and safety standards in the following areas:
- Nutrition – Yum! aims to proactively enhance the nutrition profile of its food content so that its products are high-quality and part of a sensibly-balanced diet.
- Food Safety – Yum! maintains food safety systems in its restaurants with stringent standards and training on product handling, employee health, product temperature and ingredient management, and prevention of cross-contamination. Everything is covered in day-to-day activity, from raw material procurement to food preparation and serving.
- Ethical Sourcing – Yum! maintains a set of minimum standards for its suppliers and works to ensure that its livestock and produce are obtained in environmentally-responsible ways.
The company has established a powerful brand due to its success. It operates almost 43,000 restaurants in 135 countries and territories. Its KFC division is the world’s most popular chicken restaurant chain, with almost 15,000 restaurants. Pizza Hut is the world’s largest pizza company, with over 14,100 restaurants. Taco Bell is the United States‘ leading Mexican-inspired quick service restaurant brand, with almost 6,500 restaurants across the country. Lastly, Yum! opens more than six new restaurants per day on average, and has been named one of the Aon Hewitt Top Companies for Leaders in North America.
Yum!’s main channels are its traditional restaurant outlets and its non-traditional outlets, namely kiosks and express units in locations such as airports and train stations. The company promotes its offerings through its website, social media pages, and print/online/TV advertising.
Yum!’s customer relationship is primarily of a personal assistance nature. Company employees prepare and serve food and beverage products to customers.
Yum!’s business model entails developing, operating, franchising, and licensing its global system of traditional and non-traditional quickservice restaurants.
Yum!’s key partners are the suppliers that provide the equipment and materials the company needs to manage its operations. These items include food products, paper and packaging supplies, and cooking equipment.
In the U.S., McLane Company is the exclusive distributor for the majority of items used in company-owned restaurants and for a large number of franchisee and licensee stores. Outside the U.S., Yum! utilizes many different local, regional, and global suppliers and distributors. The company has 5,700 food and paper suppliers in total.
Yum!’s main resources are its human resources, namely the restaurant staffers that prepare, cook, and serve its food and beverage products to customers. The company places a high priority on its intellectual property, with its Kentucky Fried Chicken, Pizza Hut, and Taco Bell trademarks having significant value and being materially important to its business.
Yum! has a cost-driven structure, aiming to minimize expenses through significant automation and low-price value propositions. Its biggest cost driver is restaurant expenses, which include food/paper, payroll, occupancy, and other operating expenses. Other major drivers are in the areas of sales/marketing and administration expenses, both fixed costs.
Yum! has one revenue stream: revenues it generates from sales of its products to customers. These include company-owned restaurant sales, as well as franchise and license fees and income.
info: Greg Creed (Chief Executive Officer) earned a Bachelor’s degree in Management at Queensland University of Technology. He previously served as Chief Operating Officer of Yum! Brands and as President, Chief Concept Officer, and Chief Executive Officer of Taco Bell. David Gibbs (President and Chief Financial Officer) earned a B.S. in Mathematical Science at Johns Hopkins University and an MBA at Duke University. He previously served as Chief Executive Officer of Pizza Hut and as President and CFO of Yum! Restaurants International. Larry Gathof (Vice President and Treasurer) previously served as Vice President of Corporate Planning and Mergers and Acquisitions at Yum! Brands. Prior to joining the company, he held a number of finance roles at a global consumer goods company. Marc Kesselman (Chief Legal Officer, General Counsel and Corporate Secretary) earned a B.S. in Government at Cornell University and a JD in Law from the University of Pennsylvania. He previously served as a Senior Vice President & General Counsel at PepsiCo America’s Foods.
info: David Gibbs earned a B.S. in Mathematical Science at Johns Hopkins University and an MBA at Duke University. He previously served as Chief Executive Officer of Pizza Hut and as President and CFO of Yum! Restaurants International.
info: Larry Gathof previously served as Vice President of Corporate Planning and Mergers and Acquisitions at Yum! Brands. Prior to joining the company, he held a number of finance roles at a global consumer goods company.
info: Marc Kesselman earned a B.S. in Government at Cornell University and a JD in Law from the University of Pennsylvania. He previously served as a Senior Vice President & General Counsel at PepsiCo America’s Foods.
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