IndexContextContext of SpurMission StatementsVisionContext and Global ImpactContext of Kentucky Fried Chicken (KFC)Mission StatementVision StatementContext and Global ImpactStrategic Importance of Corporate GovernanceCorporate GovernanceKey Findings and Conclusions Reached as a Result of the Research : Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay I found that both Spur and KFC have strong corporate governance aspects, but lack governance in other areas. An incident at a Spur restaurant showed that they don't always take responsibility. In saying this, I feel that KFC's corporate governance was slightly more lacking than Spur's. The reason I came to this conclusion is that KFC doesn't seem to place much value on transparency as it is extremely difficult to find research on their procedures, values ​​etc. They also don't reveal to the public how they solve problems that arise. Their excuses for accidents that happen are the usual standard excuses which make them seem insincere and may lead their customers to think that they are not responsible as they may think that the apologies are just lip service. Has the research conducted led to recommendations for future action? Yes, research has shown that KFC needs to work on their accountability and transparency. The fact that I struggled to find anything about corporate governance led me to focus on their lack of transparency, and through further research, I revealed why some people were unhappy with KFC's apology. KFC often fails to disclose the specific action it says it wants to take, but since no one really knows what the action is and there is no follow-up, the complainant is none the wiser. This led to recommendations that they be more transparent and sincere in their apologies. Background to Spur's Mission Statements Spur is committed to providing joyful and memorable experiences over great food for both young and old. Spur ensures that its restaurants have a warm, family-friendly environment, as well as an inviting atmosphere where people of all ages can socialize and enjoy healthy portions of tasty food, served with good service. Their warm environment includes a space where all family members will be cared for and entertained. They promise their customers and potential customers, a consistent and reliable "exceptional experience", regardless of which franchise location their customers visit. VisionSpur's philosophy focuses on uniting their customers by making their burgers and food good quality and deliciously tasty, this will unite their customers as it can help create wonderful memories and build brand loyalty. They strive to attract customers through their generosity, the happiness of staff and customers, their hospitality and/or through the prospect of their mouth-watering burgers, milkshakes and other deliciously prepared foods, drinks and desserts . They focus not only on the taste of their burger and other foods, but also on the quantity and aroma. Background and Global Impact Spur Steak Ranches is part of Spur Corporation and is a South African fast food company. Spur Corporation is a multi-brand company listed on the JSE Limited and operates in the travel and leisure sector. Spur Corporation's other two restaurant brands are Panarottis Pizza Pasta and John Dory's Fish & Grill. The group offers consumers a reasonably priced dining experience in a family atmosphere. Allen Ambor is both the founder and executive chairman of Spur Corporation. In 1967 Mr. Ambor founded Spur Steak Ranches. Hainvested R4 000 to open the Golden Spur in Cape Town, specifically in Newlands. Subsequently he opened a second Spur restaurant (Seven Spur) in South Africa, in another strategic point of Cape Town, Sea Point. The branches became very popular, which encouraged Ambor starts franchising to grow Spur's business. The Spur Corporation is now a multi-million dollar corporation. It has quickly become famous for its taste, nutrition and value for money meals and they believe their friendly, peaceful and family atmosphere is one of the main reasons for their success. The Group has become one of the most recognized brands in the country. They have also developed into an internationally recognized brand that now includes over 292 restaurants locally and 41 restaurants worldwide, in countries such as Australia, New Zealand, Mauritius and various parts of Africa. The menu caters food and drink for many different people. , they have their renowned steaks, ribs and burgers for red meat eaters and for chicken eaters they offer Cheddamelt cutlets and BBQ chicken breasts. They also offer desserts and special kids meals which are a lot of fun. They also cater to people who don't have a lot of money with their weekday specials that offer good value for money deals, such as the Unreal Breakfast and the Classic Monday R50 Burger. A big selling point of Spur restaurants for families with young children are their "play areas" in many of the main restaurants or the crayons and colorings provided for children. It's a fabulous place to visit if you're hungry and your kids get distracted or bored easily. It is a one-stop shop that meets all these needs. Background to the Kentucky Fried Chicken (KFC) Mission Statement The Mission Statement KFC Franchisees join together to protect, promote and advance the mutual interest of all member franchisees and the Kentucky Fried Chicken system. Maximize profitability, improve shareholder value and ensure sustainable growth year after year. Sell ​​food in a fast-paced, friendly environment that appeals to pride- and health-conscious consumers. Vision Statement KFC's parent company is Yum! Marche. Yum's vision and strategy are committed to continuing the success achieved during the first ten years and want to grow further especially internationally. Provide customer-focused, consistent quality products. To consistently satisfy customers around the world every time they eat KFC food and do it better than any other restaurant. The unique dining experience at each of their restaurants puts smiles on customers' faces and inspires their lifelong loyalty. To this end, their employees around the world are trained to become customer maniacs. They strive to build powerful brands through superior marketing, breakthrough innovations and compelling value. With a foundation built on award-winning food products and world-class operations. Drive aggressive unit expansion everywhere, especially in emerging markets, and build leading brands in every significant category in China and India. They also strive to create profits in the industry through franchising and disciplined use of capital, as well as maximize long-term shareholder value. Background and Global ImpactKFC was founded by Colonel Harland Sanders. He was an entrepreneur who had a roadside restaurant in Kentucky. From there he began selling fried chicken during the Great Depression. Sanders decided to franchise and grow his business. The first "Kentucky Fried Chicken" franchise launched in 1952 in Utah. In 1971 KFC entered the market for the first timeSouth African. There are currently around 828 KFC outlets in South Africa and around 90% are franchise-owned. KFC is one of the largest fast food companies in the world. With 18,000 stores in over 115 countries, they naturally sell a lot of products every day. Being a profit-oriented company and part of the private sector, there are many parts of this company that create social, economic and environmental problems in our society. One impact is the social impact as most KFC workers are paid a minimum wage in countries where a minimum wage is established and in other countries KFC workers are sometimes paid appallingly low amounts of money. Strategic Importance of Corporate Governance Corporate Governance Corporate governance is part of the overall management and Spur and KFC must be aware of issues such as transparency, interdependence, accountability, integrity, social issues, fairness, fiduciary duties and the responsibilities of directors. Why are transparency and accountability important to Spur and KFC? Transparency is important in decision making as everyone should know the who/what/when/how/why of big decisions being made and this can make people feel valued and important and gets them involved in the business too. This will also make employees feel that they work in a company with high moral values ​​that makes them happy and comfortable in their work, which will also encourage employees to work harder and try to be better in their roles, increasing productivity. If the company takes responsibility, it will lead by example, and employees should feel obligated to do the same. Spur and KFC are both quick service restaurants in South Africa and cater primarily to families with young children. This means that the competition is high and they have to gain favor with the consumer. By being transparent and accountable, companies build trust between their brands and their customers and at the same time give the company a good brand image, demonstrating that the company is honest, open and responsible. This will win favor with customers and strengthen brand loyalty. Why is integrity important to Spur and KFC? It is perhaps the most important principle of leadership. If a company has integrity, it will demonstrate to customers, suppliers and employees that the company is truthful and honest. For these companies to have integrity, they must be honest with their stakeholders and tell the truth, even if the truth is ugly. This will be beneficial for Spur and KFC as their suppliers will be more likely to trust them, which will create a good and healthy relationship between them. If everyone at Spur and KFC has integrity, colleagues will trust each other and know that no one will “stab them in the back,” which is important for the company to run efficiently. Spur and KFC can also gain integrity by keeping their promises. This is also important because in this case they will be known for keeping their word and their word will mean something that could go hand in hand in their future. Why is it important for Spur and KFC to have equity? Spur and KFC need to make sure they treat people with equality. They must not be partial to one or more entities. If the company practices discrimination, it will give Spur and KFC a bad brand image, especially because they are meant to be a family-friendly environment and parents want their children to grow up and be surrounded by good morals and values ​​and therefore if Spur and KFC will have a reputation for being biased, they will lose customers. Spur and KFC must make objective decisions, this will ensure that the interests of stakeholders are always considered to the best of the companies ability. Spur and KFC can achieve equity within their businesses.