What a Senior Manager Global Strategy at a Fast Food Chain Wishes They Had Known Before Entering the Fast Food Industry
Kristan, a Senior Manager of Global Strategy at a fast-food chain, reflects on the industry's growth challenges, noting that "growth is hard to come by" due to intense competition and a reliance on either increasing sales at existing locations or building new ones. This contrasts with potentially faster-growing sectors, and the expectation of growth in a publicly traded company presents unique difficulties.
Industry Realities, Career Development, Executive/Leadership, Workplace Challenges, Overcoming Challenges
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Kristan Hannigan
Sr. Manager, Global Strategy
Fast Food Chain Company
University of California, San Diego
MBA from UCLA Anderson
Business Management & Admin
Food, Beverages & Alcohol
Business Strategy
Honors Student
Video Highlights
1. The fast-food industry is highly competitive with limited growth opportunities compared to newer industries.
2. Growth in the fast-food industry primarily comes from increasing sales at existing stores or building new ones.
3. The growth expectations and strategies within a publicly traded fast-food company can be unique and challenging compared to other industries.
Transcript
So, what have you learned about this role that you wish someone would have told you before you entered the fast food industry?
That is a good question. I think one of the challenges is that while it's a fun industry, growing from a fast food standpoint can be difficult.
Essentially, you either increase volume at your current stores for same-store sales growth or you build more stores. The fast food industry is super competitive and not growing very quickly, so growth is hard to come by.
It also has a different mentality than a newer industry with a lot of growth potential. I think the mix of how to grow and the expectations for a publicly traded company can sometimes be difficult.
However, I wouldn't trade it for the world; I do love the industry.