Shanxi University of Finance and Economics: (Hira Shafqat)

SHANXI UNIVERSITY OF FINANCE AND ECONOMICS
ASSIGNMENT: MANAGERIAL ECONOMICS
SUBMITTED TO: JIANG YUYAN
SUBMITTED BY: (Hira Shafqat)

MY EXPERIENCE DURING THE PROJECT:
One of the redeeming qualities of fast food is that it is insanely cheap. It isn’t classy or
especially healthy or even something anyone would be proud of eating on a daily basis, but it
is cheap. When you have money you go to your favorite restaurant and have a three-course
dinner. When things are not looking up financially you go to KFC and order a Big Mac. The
fast-food industry, therefore, tends to thrive when the economy as a whole is on a downturn
because that’s when most people turn to cheaper food options. This doesn’t mean that they are
completely immune to recessions that occur in the long term. A short-term mild recession will
benefit the fast food industry because people will still be able to afford eating out; they just
won’t be able to afford the more fancy restaurants. However, if a recession draws out too long,
then people will prefer to buy their own ingredients and eat at home. In such a situation even
the fast food industry would suffer. When this happens, the largest fast-food chains would cut
their prices and advertise more aggressively to their consumers in order to attract them. The
smaller fast food chains wouldn’t be able to do this can might end up closing down altogether.
This is at the heart of all restaurant economics. For better understanding our teacher gave us an
assignment in which we have to make a group and then choose any enterprise of our choice.
Then we have to figure out different aspects about that enterprise e.g. demand, supply,
management and the influence of current epidemic situation on all these factors. So we started
our work and firstly we make a group in which we are 4 members. We all decided to prepare this
report on a well-known YUM! BRANDS created on May 30, 1997, as Tricon Global
Restaurants, Inc. from PepsiCo's fast food division as the parent corporation of KFC, Pizza Hut
and Taco Bell restaurant companies and then we assign task to every group member because we
are not in school right now due to COVID-19, we are at our home town in different cities.
That’s why we assigned different task to each group members to complete the assignment as a
group. My task was to collect information about the prevention and response to COVID.19 by
Yum Brands. So I started work on it firstly I searched about the chosen enterprise on the internet.
From which I came to know that I can get the required information from any food restaurant that
comes under the ownership of Yum! Brands e.g. KFC, PIZZA HUTT etc. Then I call the
manager (Abdullah Ali ) of KFC Islamabad Capital (PAKISTAN) and told him about my
project. He is a very kind person and agreed for meeting. It was Tuesday evening when I go to
the restaurant and gather all the required information from the manager. He gave me verbal,
written information and also allow me to visit physically to assure either they are implementing
the preventions or not. Then I also visited their kitchen. It was quite clean and all the staff
members were following the SOP'S regarding COVID-19. The manager also told me that. Yum!
is monitoring and following guidelines from health authorities worldwide regarding the novel
coronavirus (COVID-19) to keep its employees, franchisees, customers and communities safe.
According to the CEO of YUM! Brands: Our restaurant team members are the heart of our
business and their health and safety is our top priority. After closely monitoring developments
related to COVID-19, we’re expanding our global health and safety measures following
guidance from public health authorities worldwide, including new recommendations by the
Centers for Disease Control and Prevention, to further protect our people, customers and brands.
These measures include:
 Low-contact service experience to protect our customers and employees
 Safe workplace measures
 Protective facial coverings
 Single-use disposable gloves
Regular medical checkup of staff
 Staff training
As recognition for the vital role that our Restaurant General Mangers (RGMs) play in inspiring
and leading successful restaurant teams, Yum! Brands has announced a one-time $1,000 bonus
for nearly 1,200 RGMs at company-owned KFC, Pizza Hut, Taco Bell and The Habit Burger
Grill restaurants around the world. As the most important leaders in our brands who lead with
heart and courage to ensure the health and safety of team members, customers and restaurants,
RGMs are critical to getting our company through the COVID-19 crisis. This bonus is intended
to acknowledge their efforts managing teams and maintaining business continuity during these
challenging times.
According to info given above the food restaurants should make special arrangement to prevent
from covid-19 it may include: Communicate takeout or delivery solutions effectively, Reassure
strict restaurant safety and sanitation measures, must make sure that staff understand your Fitness
to Work policy and are aware of any updates that have been made in relation to COVID-19, Staff
should be fit for work at all times. This means they must not be suffering from, or carrying, an
illness or disease, Thorough cleaning of premises and equipment etc.
So after obtaining all the information I transferred it to my group member whose duty was to
summarized and to make a word file report. Then after making a report we all (group members)
discussed the whole report on a phone call so that everyone should be able to know all the
aspects of the report. And at last I want to talk about my team members because without their
help we cant do that task. They were very cooperative and supportive. I wanted to thanks all of
them and also wanted to thanks my teacher Jiang Yuyan for giving us such a great opportunity of
doing that work which not only increase our knowledge but we also learn how to work in groups
or team.

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SHANXI UNIVERSITY OF FINANCE AND ECONOMICS

ASSIGNMENT: MANAGERIAL ECONOMICS

SUBMITTED TO: JIANG YUYAN

SUBMITTED BY: (Hira Shafqat)

 Low-contact service experience to protect our customers and employees

 Safe workplace measures

 Protective facial coverings

 Single-use disposable gloves

Regular medical checkup of staff

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