Bus508 Assignment 1

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Entrepreneurial Leadership

Sharonda Jackson

Dr. Keller

BUS 508

October 23, 2013

Five Guys’ philosophy setting it apart from other fast-food chains:

Following are the factors that differentiate the philosophy of Five Guys’ from other fast food chains in the town.

* Not compromising over quality

* Maintaining Job Satisfaction of the employees

* Making its customer, its advertiser

* They spend on food, not decor

* Ensuring the quality raw material for quality output of the product

* Not pining for money, but for customers satisfaction

* Maintaining a strong internal control ensuring perfection (regular audits)

* Investing in Vendors – investing in relationships.

* Spending more on employees – Making them feel, they are the real owners

This aforementioned philosophy in terms of the values of the Five Guys’ makes Five Guys’ what it is today. In this fast pacing modern business world, every profit making organization certainly tends to make profits. And this is what it is made for. The chief purpose of every profit making organization definitely should be earning profits and making progress day in day out. But in doing so, at times, or may be (in some cases) most of the times, organizations forget to keep in mind various other factors that promise profits and earnings steadily on regular basis. One of the such key factors include, serving the quality stuff for what your organization is made for. For instance, if your organization is built for providing teaching services and in the start you provide very good services in this regard, definitely you are going to earn handsome amount of money. But where your teaching services start diminishing in terms of quality, it is in the bag that you are going to face a slump phase that perhaps can never be compensated. You have compromised over the quality and this is going the cost a lot.

Besides quality there is yet...