History of Jollibee Foods Corporation Essay

Jollibee is a phenomenal success story: when beganTony Tan Caktiong and his family opened a Magnolia Ice Cream parlor from Bankerohan, Davao City to Cubao in 1975 with Jolibee as the original name. Sometime in 1978, Caktiong and his brothers and sisters engaged the services of a management consultant, Manuel C. Lumba. Lumba shifted the business focus from ice cream to hamburgers, after his studies showed that a much larger market was waiting to be exploited. Lumba became Caktiong’s first business and management mentor. Lumba next re-formed the name Jolibe to Jolly Bee and made the two words form a single name, Jollibee, changing the â€Å"y† to an â€Å"i†. They also offering hot meals and sandwiches became incorporated in 1978 with seven outlets to explore the possibilities of a hamburger concept. Thus was born the company that revolutionized fast food in the Philippines. The Jollibee mascot was inspired by local and foreign children’s books. Lumba next created the product names â€Å"Yumburger† and â€Å"Chickenjoy†. He had the company incorporated and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba formulated a long-term marketing strategy: listing up a number of consumer promotions and traffic building schemes. Caktiong stressed that developing internal strengths was critical. The stores were re-designed, the service transformed into a full self-service, fast-food operation with drive-through. Not long after, Caktiong and Lumba went on an observation tour in the United States, attended food service and equipment conventions. Caktiong placed Lumba in charge of franchise development In 1984, Jollibee hit the P500 million sales mark, landing in the Top 500 Philippine Corporations. In 1987, barely 10 years in the business, Jollibee landed into the country’s Top 100 Corporations. It became the first Philippine fast food chain to break the P1 billion sales mark in 1989. In 1993, Jollibee became the first food service company to be listed in the Philippine Stock Exchange; thus broadening its capitalization and laying the groundwork fo r sustained expansion locally and beyond the Philippines. As the country’s leading fast food chain, Jollibee has grown exponentially on all aspects on operation. From a handful of stores 32 years ago, Jollibee now boasts of more than 600 stores and over 50 international stores. To achieve its long-term goal to be the country’s food service leader, Jollibee acquired Greenwich Pizza in 1994. A year later, the company obtained the franchise of Delifrance, an international food company. These moves expanded Jollibee’s penetration in the pizza-pasta and French cafà ©-bakery segments. In 2000, the strategic acquisition of Chowking solidified the company’s position as the dominant leader. The move gave it leadership in the Oriental quick-service restaurant segment. Jollibee’s rapid growth is due to its superior menu line-up, creative marketing programs, and efficient manufacturing and logistics facilities. It is made possible by well-trained teams that work in a culture of integrity and humility, fun and family-like. As a corporate citizen, Jollibee is also committed to give back to its host communities through meaningful and lasting socio-civic projects. Jollibee dedicated its continuous success to the Filipinos who have been there from the very start. Jollibee is so well-loved every time a new store opens, especially overseas, Filipinos always form long lines to the store. It is more than home for them. It is a stronghold of heritage and monumen t of Filipino victory. JOLLIBEE FOODS CORPORATION TIMELINE 1975 * Mr. Tony Tan and his family opens a Magnolia Ice cream parlor at Cubao. This is later to become the 1st Jollibee Outlet. 1978 * Bakery is established in Cubao. * Jollibee posts 1st year sales of P2 million * Jollibee incorporates as a 100% Filipino-owned company, with seven Jollibee fast- food restaurants within Metro Manila as initial network and the Yumburger as flagship product. 1979 * Spaghetti Special is introduced * 1st Franchise owned store opens at Ronquillo Sta. Cruz. 1980 * Jollibee launches its 1st TV commercial. * Jollibee Chickenjoy and French Fries are launched. * The well-loved Jollibee mascot is conceived to support brand awareness and identity efforts. Other mascots are later introduced. * Jollibee launches Chickenjoy, which becomes one of its best-selling menu items. 1981 * Jollibee Foods Corporation enters list of Top 1000 Corporations. * Jollibee ended the year with 10 stores 1982 * Jollibee pioneers the use of in-store promotions, novelty premium items and Kiddie Birthday packages for kids. * Palabok Fiesta is introduced. 1983 * The Langhap-Sarap TV ad Campaign is launched. * Chickee and Lady Moo join the Jollibee mascots 1984 * Champ hamburger is launched. * Jollibee enters list of Top 500 Corporations and assumes market leadership in local fast food industry. * Mascots Champ and Hetty join the Jollibee family * WEA gives Jollibee Gold record award for the outstanding sales of Jollibee songs. 1985 * Jollibee becomes the market leader of the fastfood industry * Breakfast Joys are introduced. * Langhap-Sarap awarded most effective ad campaign in the food category during the 9th Philippine Advertising Congress 1986 * Jollibee wins the 9th International Foods Award from El Comestible in Barcelona,Spain * Tony Tan wins the Agora Award for entrepreneurship given by the Philippine Marketing Association. * Top 250 Corporation list include Jollibee Foods Corporation * Jollibee opens its 1st international store in Taiwan * Jollibee adds Chunky Chicken Sandwich in its menu. 1987 * 2nd Taiwan store opens. * Sales of 570 million pushes Jollibee into the elite Top 100 Corporations * Jollibee opens 1st fast food outlet in Brunei, marking its entry into the global market. 1988 * Jolly Twirls softserve is successfully launched. * Jollibee system wide sales hit P921 million, further leading market share of 31% in the fast food industry and a dominant 57% share in the hamburger segment. * Jollibee celebrates 10th year anniversary. * Tony Tan is named one of the Ten Outstanding Manilans. * Jollibee wins the Anvil Award for outstanding PR campaign in relation to the achievement of marketing objective with its Filipino Talents campaign. 1989 * 2nd Brunei store opens. * Balut and Ligaw TV commercials wins the Kidlat Award in the Service and Leisure Products category during the 11th Philippine Ad Congress. * Jollibee sales hit P1.3 billion marks, first fast food chain to surpass billion-peso sales mark. 1990 * Jollibee adds coleslaw, Jolly Hotdog, Chickenjoy Take-Me-Out and Peach mango Pie to its ever-growing menu. * Jollibee post sales of P1.8 billion * Tony Tan is awarded the Triple Award by AIM as Outstanding AIM Alumnus. * Jollibee receives the Excellence in Marketing Management Award from the Asian Institute of Management. 1991 * Jollibee’s 100th store opens in Davao City * Jollibee opens a record high of 35 new stores * Opens 1st store outside Luzon in Cagayan de Oro City. * Jollibee launches its Pancakes and Jolly Meals. * Jollibee sales hit a whopping P2.65 billion. * The Lola TV commercial wins the Grand Araw Award and an award of excellence for the promotion of Filipino Values during the Philippine Ad Congress. * Jollibee receives award for the outstanding Corporate Safety Consciousness Programs by the Safety Organization of the Philippines (SOP). 1992 * Jollibee stages first ever holiday musical special for children dubbed â€Å"A Magical Christmas at Jollitown† * Jollibee and the Jollibee Franchisees Association launched the 30th anniversary special novelty offering – Hug and Share Doll. Proceeds of the sales will all be donated to charity. * Biggest and grandest MaAga ang Pasko caps off Jollibee’s 30th anniversary. Total of more than 117,000 toys and books collected were the highest ever in the campaign’s 14-year history. Mission and Vision Statement Fred David, in his book Strategic management; Concept and Cases enumerated key factors in making a mission statement. He recognized that a mission statement goes beyond being a statement, for it is a declaration of the company’s attitude and outlook. The mission statement of Jollibee Foods Corporation (JFC), although it meets the primary objective of a fast food chain, is too concise and gives sole emphasis to its current services. Thus, the space for improvement was narrowed down to simply food catering to the target market, taking for granted the other aspects of the business. According to David, a mission statement should be able to â€Å"allow for the generation and consideration of a range of feasible alternative objectives and strategies, because excessive specifity would limit the potential of creative growth for the organization. Also, a mission statement has to be broad to reconcile differences effectively among, and appeal to, an organization’s diverse stakeholders, the individuals and groups of individuals who have a special stake or claim on the company.†