Corporate research strategies and methodologies

Corporate Research: Fast Food

The fast food industry has changed a great deal in recent years, largely because of lawsuits and complaints regarding people that have gained too much weight or have gotten some type of disease from eating fast food, and how those people were not 'warned' that the food could be bad for them. Most people find this to be somewhat laughable, because it is obvious to most individuals that fast food choices overall are not 'good' for people. However, the changing society has created a changing fast food environment, regardless of whether this change is for the better or not. Through looking at www.hoovers.comand examining information for Taco Bell, McDonalds, Wendy's, Steak and Shake, and Burger King, it is easy to get a picture of the fast food industry based on the financial health, concerns, legal issues, and health issues that the industry is experiencing at this time. All of these issues will be addressed here.

The financial health of the fast food industry could not be better overall. People are eating fast food at very high rates as society continues to move faster and people become busier. As this takes place, more people are eating fast food for all three meals, and because of this the fast food industry is making more money than it did in the past. Therefore, financially, the fast food industry really does not have that much that it needs to be worried about. There will always be competition between the fast food restaurants, and there will always be some people that will choose one restaurant over the other ones, but this is only to be expected, and is generally the same, regardless of the industry.

Financial issues are not the only concerns that the fast food industry has, however, as there are legal and health issues that also must be addressed where this particular industry is concerned. The legal issues involve obvious concerns such as copyrights and patents on particular kinds of food, certain sauces, specific names, and other issues that have to be addressed. Legal issues also involve the lawsuits that are often seen when someone ends up obese or becomes ill because of all of the fast food that he or she has consumed over a period of time. These kinds of lawsuits are often upsetting to the fast food industry, because it is not the restaurants' fault that someone has chosen to eat their food to excess. However, the idea of being sued because of this or because they allegedly did not tell the consumer how much fat, etc., was in their food is a real possibility in today's society.

There are changes being made because of the legal concerns, but there are also changes being made because of the health concerns that many people are facing as well. The fast food industry has made some changes to the menu, as more fast food restaurants realize that there are some very health-conscious people that still will not eat at their establishments because the amount of sugar and fat that they would receive is just too much. As some of the changes are being implemented, however, those that are very careful about their health and what they eat can often find something on a fast food menu that they can enjoy, even if they do not indulge too often. This will bring more people to fast food restaurants more often, and continue to increase the financial stability that the fast food industry already has.