Individual assignment 1

Simranjeet Kaur

Student Id 2219146

BUSI 601(CAMPUS-Spring23-31)

University Canada West

Prof. Abhinav Tomer

9^th may, 2023

Executive Summary

HybisBrands, a global fast-food chain, is facing a set of complex challenges that are impacting its business and brand reputation. This report provides an analysis of the prominent issues at play, including the labour shortage, sustainability concerns, and changing consumer preferences. The report examines the impact of these issues on different stakeholders, such as employees, customers, and shareholders, and provides recommendations for addressing these challenges.

Innovation Fuel, a popular business podcast, recently featured HybisBrands CEO discussing the companys efforts to address these challenges through innovation and technology (Kramer, 2022). The episode highlighted the companys investments in automation, sustainable packaging, and digital ordering systems. These initiatives not only address the current challenges but also position HybisBrands as a leader in the industry, with the potential to attract socially responsible investors and customers who prioritize sustainability and convenience.

By implementing these innovative solutions, HybisBrands can improve its brand reputation and profitability while also addressing the concerns of various stakeholders. This report recommends that the company continue to prioritize innovation and technology as part of its overall strategy for addressing the challenges it faces.

Integrating innovative solutions will enable HybisBrands to set a new standard for sustainability, ethical labor practices, and social responsibility in the fast-food industry, ultimately creating new opportunities for growth and success.

Introduction

HybisBrands operates in many countries worldwide, but it has been facing various issues that are affecting the company. The first issue is the labour shortage, which has affected many industries, including the fast-food industry, due to the COVID-19 pandemic (CNN Business, 2021). The second issue is related to sustainability and the environment, with the company facing criticism for its use of plastic packaging (The Guardian, 2021). Lastly, the company is also facing changes in consumer preferences and trends, with many customers seeking healthier, plant-based options (Forbes, 2020).

Impact of Labour Shortage on HybisBrands Employees and Customers

The labour shortage in the fast-food industry has had a significant impact on HybisBrands operations, as it struggles to attract and retain employees. The company has been forced to offer higher wages and better benefits to compete with other employers, which can have a positive impact on employee satisfaction and motivation (CNBC, 2021). However, the understaffed restaurants resulting from the labour shortage can negatively impact customer service and experience (USA Today, 2021). Customers may develop a negative perception of the brand and become dissatisfied due to long wait times, order inaccuracies, and inconsistent service. Such factors have the potential to adversely impact the company's brand reputation.

One way to address the issue is by investing in programs that prioritize employee retention and development. Such programs can help HybisBrands to retain employees by enhancing job satisfaction through training and development opportunities (Thimothy, 2021). Additionally, offering flexible work arrangements can enable employees to balance work and personal responsibilities, which can further improve retention rates (Thimothy, 2021). By implementing such initiatives, HybisBrands can improve employee morale and satisfaction, ultimately leading to better customer service and brand reputation.

According to Lloyd (2021), investing in employee retention and development programs can improve employee morale and motivation, leading to better customer service and brand reputation. (Lloyd, 2021) This, in turn, can result in increased customer loyalty, which is essential for the long-term success of HybisBrands in the fast-food industry. Therefore, Lloyd (2021) asserts that it is crucial for the company to prioritize its employees' growth and development. (Lloyd, 2021)

Sustainability

HybisBrands' plastic packaging has led to negative feedback due to its environmental impact, with pollution in oceans and landfills being a major concern (The Guardian, 2021). The company has announced that it will phase out its use of plastic straws in all its restaurants by the end of 2021 and is exploring alternative, more sustainable packaging options (HybisBrands, 2021). The company has an opportunity to create positive change by adopting more sustainable practices.

To address the issue of plastic packaging, HybisBrands can invest in research and development to explore alternative, more sustainable packaging options. For example, the company could consider using biodegradable materials or reusable containers to reduce waste. To promote sustainability, HybisBrands can undertake customer education initiatives aimed at encouraging sustainable practices. The company can utilize in-store promotions, social media campaigns, and other marketing efforts to achieve this objective. In doing so, HybisBrands can contribute to promoting environmentally responsible practices among its customers.

HybisBrands can gain a competitive advantage in the market by adopting sustainable practices that align with the values of environmentally conscious customers. As per a study conducted by Nielsen in 2018, 81% of consumers consider it essential for companies to contribute to improving the environment. Thus, HybisBrands' efforts towards sustainability can also be a means to appeal to these customers (Nielsen, 2018).

Changing Consumer Preferences

As consumer preferences evolve, HybisBrands has made efforts to cater to the changing demands of its customers. The introduction of the Beyond Burger, a plant-based burger, has been well received by customers and indicates the companys willingness to adapt to changing trends (Forbes, 2020). However, the shift towards more sustainable options may result in higher prices for some products, which may not be welcomed by all customers (The Guardian, 2021).

To address this issue, HybisBrands should consider offering more affordable plant-based options , such as salads or sandwiches, alongside higher-priced menu items like the Beyond Burger. By doing so, the company can cater to different segments of its customer base while also promoting sustainable and healthy food options. HybisBrands should also focus on communicating the benefits of its sustainable options to its customers, such as the positive impact on the environment and personal health (Forbes, 2020). This can help to educate customers about the value of sustainable food options, potentially increasing demand and promoting customer loyalty.

Stakeholder Analysis

HybisBrands employees play a crucial role in the companys success, and the labour shortage has presented a significant challenge for the fast-food chain. To attract and retain workers, HybisBrands has had to offer higher wages and better benefits, which can have a positive impact on employee satisfaction and motivation (CNBC, 2021). However, the companys efforts to address sustainability concerns through the implementation of more environmentally friendly packaging options may come at a cost that could impact employee morale, as higher prices for customers could result in reduced sales and profits (The Guardian, 2021).

To address these challenges, HybisBrands should invest in employee retention and development programs to improve employee satisfaction and retention. The implementation of such programs could also help the company build a loyal and dedicated workforce that is committed to the companys values and goals.

Another key stakeholder impacted by these issues is HybisBrands customers. The companys efforts to address sustainability concerns and introduce more plant-based options reflect the changing consumer preferences of customers who are increasingly concerned about the environment and seeking healthier food options (Forbes, 2020). However, higher prices resulting from the companys sustainability efforts may not be welcomed by all customers, and HybisBrands should take steps to ensure that any increases in prices are transparent and clearly communicated to customers (The Guardian, 2021). The company should also explore ways to offer more value to customers, such as loyalty programs and promotional discounts, to offset any price increases and maintain customer loyalty.

Overall, the stakeholder analysis highlights the need for HybisBrands to balance the needs and concerns of different stakeholders, including employees and customers, in its efforts to address the complex challenges facing the fast-food industry. By taking a strategic and innovative approach to these challenges, HybisBrands can build a reputation as a socially responsible and forward-thinking company, positioning itself for long-term success in the competitive fast-food market.

Conclusion

In conclusion, HybisBrands faces a complex set of challenges that require thoughtful and strategic solutions. The company's responses to these challenges will have far-reaching implications for various stakeholders, including employees, customers, shareholders, and the environment. The COVID-19 pandemic has exposed longstanding systemic issues in the fast-food industry, and HybisBrands' responses to these issues could have a ripple effect throughout the industry. Ultimately, the company has an opportunity to lead by example and set a new standard for sustainability, ethical labour practices, and social responsibility in the fast-food industry. By doing so, HybisBrands can not only mitigate the risks of these challenges but also create new opportunities for growth and innovation.

References

CNN Business. (2021, September 7). Labour shortages are hampering US restaurants. Retrieved from https://www.cnn.com/2021/09/07/business/labor-shortages-restaurants/index.html

CNBC. (2021, June 15). Fast food chains are boosting pay and perks as they struggle to staff restaurants. Retrieved from https://www.cnbc.com/2021/06/15/fast-food-chains-boost-pay-and-perks-as-they-struggle-to-staff-restaurants.html

Forbes. (2020, February 11). Beyond Meats partnership with KFC is a game changer. Retrieved from https://www.forbes.com/sites/greenentrepreneur/2020/02/11/beyond-meats-partnership-with-kfc-is-a-game-changer/?sh=3174c4f17d30

Forbes. (2021, April 26). Training and development is the key to employee retention. Retrieved from https://www.forbes.com/sites/forbeshumanresourcescouncil/2021/04/26/training-and-development-is-the-key-to-employee-retention/?sh=2775b5e76a23

HybisBrands. (2021, June 1). Our sustainability commitment. Retrieved from https://www.hybisbrands.com/sustainability

Nielsen. (2018). Unpacking the sustainability myth. Retrieved from https://www.nielsen.com/wp-content/uploads/sites/3/2019/04/unpacking-the-sustainability-myth-1.pdf

The Guardian. (2021, July 16). The big plastic backlash: How brands are moving to reduce waste. Retrieved from https://www.theguardian.com/environment/2021/jul/16/big-plastic-backlash-brands-move-to-reduce-waste

\USA Today. (2021, July 7). Short-staffed restaurants and long wait times: Staffing shortages could impact your dining experience. Retrieved from https://www.usatoday.com/story/money/2021/07/07/restaurant-staffing-shortages-cause-long-waits-inconsistency/7890326002/

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