Today, BizEngine is hitting you with a piping-hot plate of news from around the world of franchise. Get your forks and knives ready.
CEO: Keep Leadership ‘Flat’
A fascinating perspective from Deloitte CEO Barry Salzberg on the website of the esteemed Wharton Business School, who climbed the corporate ladder at his company to become CEO.
One of the hardest things for any organization—be it military, business or non-profit—is to transform. You would suspect that having climbed the corporate ladder, Salzberg would believe that was the way things should be done in today’s business climate. Instead, he presents a compelling case for doing away with a dense, multi-layered leadership establishment at companies and advocates for an open, transparent environment where young leaders are groomed and employees are encouraged to contribute ideas and have a voice.
The result, he believes, is a more nimble company, one that can cultivate good ideas and good leaders. In a franchise environment where owners and managers can have a lot of interaction with employees, this advice rings true. Give the article a read and see if you need to adopt it for your own business.
Burger King Opening Up Menu
Seeking to drive higher sales in the next quarter after succeeding at doing just that in Q1, Burger King is flexing its menu muscle.
I’ve long thought that BK’s approach to their menus is striking when compared to McDonald’s and Wendy’s, their primary rivals. While those two have attempted to appease a health-conscious public by adding lower-calorie fare and a lot more salads, Burger King has aggressively expanded its menu with more chicken, more burgers and in some cases just stuffing those burgers with more stuff, like jalapenos and cheese. It may not be great for your heart, but BK is playing to their core audience and it appears to be working.
Be sure to check out their newest offerings and let us know if you think they’ll be effective.
IFA Expands Credit Access Campaign
To their eternal credit, the IFA saw how a lack of access to credit was stifling franchise growth and reacted. The Credit Access Campaign has been instrumental in hooking franchises up with cash, but the campaign is taking a more aggressive approach now to try break up the logjam.
The targets here are reasonably ambitious: 333,000 new franchise jobs and 41,000 new franchise businesses in 2011. Whether that can be reached or not is up for debate—it’s going to take a little more than credit access, unfortunately—but you can’t do anything but laud them for trying.
Got franchise news tips? Let us know!