The NAICS code of the Industry that we will use is, “NAICS 722513: Limited-Service Restaurants.”
We are basically going to talk about the fast food industry, which has the above code.
So for the first paragraph we need to analyze and describe the industry. Include some information about the industry. Is the industry increasing or not? And why? What kind of food do they serve? Who are the top 4 competitors in the industry?
Question 1 has two parts:
For part 1a, we need to conduct a pest analysis: (Political factors, social factors, economic factors, and technological factors. We need to identify and describe 2 to 3 of the most influential forces in the broad environment.
1b is asking to conduct a 5-forces analysis (Threat of new entrants, Power of suppliers, competition in the industry, threat of substitutes, and the power of customer). As what we did in 1a, we need to identify and describe 2-3 of the most influential forces in the competitive (industry) environment.
In question 2, we are going to use our answers from questions 1a and 1b to answer parts 2a,2b, and 2c.
For part 2a we need to identify and describe the most significant drivers of change in the industry, and the expected influence they could have on the industry in the next five years. (Note: you MUST reference the results of the PEST and the 5-forces analysis found in your response to the previous question to justify your selection of key drivers of change in the industry).
For part 2b identify and describe the most significant key survival factors in the industry (Note: you MUST justify your selection as you did in part a).
For 2c use your analysis in Part (a) & (b) of this question to assess and describe the overall attractiveness of the industry and the trend toward the future (you MUST provide details).
Most importantly that we don’t exceed 500 words in each question and include all the references used in our answers.