Over the past years, JFC has been involved in numerous social projects such as feeding malnourished children in partnership with Kabisig ng Kalahi; getting children to read and love books with Sa Aklat Sisikat; promoting values to children and the youth with DepEd; and sharing blessings through the annual Christmas toy and book drive, Maaga ang Pasko. Tony Tan Caktiong and the rest of the JFC leadership knew that to do lasting good, they had to organize their giving and make it more strategic. A paradigm shift took place: corporate giving had now evolved into social partnership. The Jollibee Group Foundation was established in December with a mission to invest in people and help them succeed—in the way Jollibee knows how.
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Over the past years, JFC has been involved in numerous social projects such as feeding malnourished children in partnership with Kabisig ng Kalahi; getting children to read and love books with Sa Aklat Sisikat; promoting values to children and the youth with DepEd; and sharing blessings through the annual Christmas toy and book drive, Maaga ang Pasko.
Tony Tan Caktiong and the rest of the JFC leadership knew that to do lasting good, they had to organize their giving and make it more strategic. A paradigm shift took place: corporate giving had now evolved into social partnership. The Jollibee Group Foundation was established in December with a mission to invest in people and help them succeed—in the way Jollibee knows how. This meant taking the values, the system, the tools, and the years of experience that made Jollibee what it is today and sharing it with the people they most ascribe their very successes to: the everyday Filipino.
Join us in sharing joy to our communities. Risk management will provide the organization with the superior capabilities to identify, assess and manage the risks and enable the organization and its employees, at all levels, to better understand and manage risks. The Company and its subsidiaries are all in the quick-service restaurant sector. The Company responds by observing stringent guidelines, processes and procedures in its FSC, and conducting regular and spot audits to ensure that FSC standards are maintained not only in stores but also in commissaries.
The Company has likewise instituted a system of incentives to reward excellent performance in terms of FSC by stores. The main purpose of these financial instruments is to obtain financing for its operations. The Company has other financial assets and liabilities such as other noncurrent assets and trade payables and other current liabilities which arise directly from its operations. The main risks arising from these financial instruments are credit risk and liquidity risk.
The Company does not engage in any long-term debt and foreign currency-denominated transactions that may cause exposure to interest rate risk and foreign currency risk, respectively. The policies for managing each of these risks are summarized as follows: Equity Price Risk The Company is not exposed to significant equity price risk on its investment in quoted equity securities consisting of investment in club shares and shares of public utility companies.
Interest Rate Risk Interest rate risk arises from the possibility that the fair value or future cash flows of financial instruments will fluctuate because of changes in market interest rates. While the foreign businesses have been rapidly growing, the net assets of foreign businesses account for only Therefore, the total exposure to foreign exchange risk of the Company is still not significant.
The Company also has transactional foreign currency exposures. Credit Risk Credit risk is the risk that a customer or counterparty fails to fulfill its contractual obligations to the Company. This includes risk of non-payment by borrowers and issuers, failed settlement of transactions and default on outstanding contracts.
The Company has a strict credit policy. Its credit transactions are with franchisees that have gone through rigorous screening before granting them the franchise. The credit terms are very short, while deposits and advance payments are also required before rendering the service or delivering the goods, thus, mitigating the possibility of non-collection.
The Company has no significant concentration of credit risk with counterparty. To manage this exposure and to ensure sufficient liquidity levels, the Company closely monitors its cash flows. Cash outflows resulting from major expenditures are planned so that money market placements are available in time with the planned major expenditure. In addition, the Company has short-term cash deposits and has available credit lines with accredited banking institutions, in case there is a sudden deficiency.
The Company maintains a level of cash and cash equivalents deemed sufficient to finance the operations. Capital Management Capital includes equity attributable to equity holders of the Parent Company.
The Company has sufficient capitalization. The Company generates cash flows from operations sufficient to finance its organic growth. It declares cash dividends representing about one-third of its consolidated net income, a ratio that would still leave some additional cash for future acquisitions. If needed, the Company would borrow money for acquisitions of new businesses. Dealings with suppliers and service providers are observed in an impartial manner, without favour or preference, other than the best interest of the Company.
Absence of conflict of interest is among the qualifications considered by the Nomination Committee to determine the final list of candidates for directorships in the Board of Directors. The Company also has internal policies on conflict of interest which apply to senior management and to all employees. Related party transactions shall be disclosed, reviewed and approved in accordance with this Policy, and any amendments thereto, consistent with the principles of transparency and fairness.
Insider Trading Policy The Company observes the statutory rules and regulations pertaining to prohibition against insider trading. In practice, the trading prohibition is observed after the Board meeting approving the matter or after the disclosure whichever is earlier.
Employee-Related Welfare and Benefits Policy In addition to statutorily required benefits, employees are provided with healthcare benefits. Employees are provided with all benefits required under the law. Whistle-blowing Policy The Company endeavours to maintain the highest standards of business ethics, as well as full compliance with all relevant laws, rules and regulations. As such, it ensures that a system is in place which will enable all stakeholders to submit reports, complaints or any other information regarding any fraudulent, illicit or unethical activity in an anonymous and confidential manner, without fear of reprisal.
Dividend Policy The Company declares dividends on a semi-annual basis and upon approval by the Board of Directors. It uses best estimate of its net income as basis for declaring cash dividends.
Jollibee Foods Corporation (A): International Expansion
Brought about by oil crisis which doubled the price of ice cream, JFC diversified into hamburgers in the year Though it began as a family business, eventually, it went public in Jollibee had grown quickly having a total of stores worldwide by the end of year Jollibee ventured into overseas expansion attempts since but were mostly unsuccessful due to location and partner issues. Tingzon, has been appointed by TTC. Apparently, Tingzon has to deal with the international expansion problems passed on by his predecessor.
Jollibee Foods Corp. (A): International Expansion
Jollibee is proud of its employees who carry out their jobs. Jollibee recognizes them by providing the highest compensation and benefits packages in the fastfood industry, and modern and comprehensive training programs. Managers are regularly updated on the latest store operations systems, people-oriented management skills, among others. Service crews are trained on various store stations and food-service innovations. Jollibee also offers career opportunities for qualified and exceptional crew members to further their food-service careers as managers.
Jollibee Foods Corporation (A): International Expansion Harvard Case Solution & Analysis
How can companies create value in the fast food industry? The company has to understand what people that consume that product truly value, what represents value for them in terms of perception. In our case we have seen that these dimension is really dependent of the location and habits people might have in the different countries. Moreover, MNCs can use capital procured in other markets for additional advertising and expansion.
International Expansion: Jollibee