When was jollibee established

Company Background Started by its chairman, Tony Tan Caktiong, as an ice cream parlor in , Jollibee Foods is now one of Asia's top quick-service restaurant chains by market value. Business Summary Jollibee Foods Corp. The company operates through the following segments: Food Service, Franchising, and Leasing. The Food Service segment operates quick service restaurants and the manufacture of food products to be sold to Jollibee Group-owned and franchised QSR outlets.

The Leasing segment leases store sites mainly to the Jollibee Group's independent franchisees. Shareholders Hyper Dynamic Corp.

Ortigas Jr. Singapore Jollibee Foods Corp. Jollibee Hong Kong Ltd. Southsea Binaries Ltd. Golden Plate Pte Ltd. Chanceux, Inc. In , just a few years after the first Jollibee opened, McDonald's arrived in the Philippines. Tan Caktiong decided that he would rather fight McDonald's.

He traveled to the United States to study McDonald's, and they realized that McDonald's had them beat in every way, with one notable exception: taste. McDonald's appeals to an American palate, while Jollibee's is more suited to Filipinos' tastes. Jollibee brought their A-game to compete with McDonald's , and the Filipino chain now controls more of the market in Manila than their international competitors.

Jollibee's success in fighting back against an international mega corporation like McDonald's is a Filipino success story often held up in business school classrooms in the Philippines as a point of national pride. When Jollibee realized that they would need to compete with large international corporations with slick branding and marketing, they gave the company a very smart makeover, starting with the name.

Jollibee was first called called Jolibe — a name made up by the founder — but the spelling was changed so that the closely resembled the words "jolly" and "bee. The dapper bee wears a chef's hat, a tuxedo jacket, and a big smile, and is also known as "Juicy J. Why a bee? Lumba chose a bee because they are hard workers, and they are associated with honey, a symbol for the sweeter things in life. Lumba and Tony Tan Caktiong also thought of the bee as representing the Filipino people: hard-working, good-hearted, busy and cheerful.

The Yumburger came about after Tony Tan Caktiong noticed that people would line up for burgers more than they would for ice cream. In addition to the basic Yumburger, there's the Yumburger with cheese, the Aloha Yumburger which is served with a slice of pineapple, and the Big Yumburger.

The Yumburger was Jollibee's first signature product, and for a while, Jollibee locations were called "Jollibee Yumburger. In addition to the Yumburger, Jollibee also sells the Burger Steak, which is similar to a Salisbury steak. In , Jollibee added a twist the classic Burger Steak and debuted the Bistek Burger Steak , a hamburger covered in onions and a savory steak sauce inspired by the Filipino dish bistek tagalog. While some Jolliebee menu items use regular ketchup, they are well-known for their banana ketchup spaghetti.

That's right — banana ketchup on spaghetti. Filipino spaghetti is the Pinoy answer to spaghetti and meatballs. It's hearty comfort food, and thanks to the banana ketchup, it's quite sweet. Banana ketchup isn't really ketchup, but rather a clever substitute for tomato ketchup.

The people in the Phillipines were introduced to tomato ketchup by traveling Americans, but the area didn't have many tomatoes. Enterprising Filipinos mixed bananas, vinegar, and sugar to create a ketchup stand-in, which was then dyed red.

Jollibee's spaghetti, known as Jolly Spaghetti , consist of noodles, ground meat, sliced hot dogs, banana ketchup, and cheese. Banana ketchup spaghetti, or Filipino spaghetti, is a staple party food in the Philipines. Jollibee didn't invent it , but their version set the standard for cheap and widely available Filipino spaghetti. Jollibee serves another noodle dish in addtion to the Jolly Spaghetti. Jollibee's hand-breaded fried chicken, known as "Chickenjoy," is one of the chain's most popular dishes, and while Americans might not associate fried chicken with spaghetti, the Jollibee Chickenjoy and spaghetti combo is classic Pinoy comfort food.

It is a stronghold of heritage and monument of Filipino victory. Tony Tan and his family opens a Magnolia Ice cream parlor at Cubao. This is later to become the 1st Jollibee Outlet. Other mascots are later introduced. Proceeds of the sales will all be donated to charity. Fred David, in his book Strategic management; Concept and Cases enumerated key factors in making a mission statement. 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. History of Jollibee Foods Corporation. Accessed November 12, Download paper. Essay, Pages 6 words. Don't use plagiarized sources. Get your custom essay on. Get quality help now.

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