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6.8 Critical Success FactorsThe fast food is already famous

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  • "6.8 Critical Success FactorsThe fast food is already famous at globally. And MFC has brought innovations in their fast food.MFC will serve hygienic fast food with its superior quality service to their respected customers.For the publicity of MFC wil..

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  • "6.8 Critical Success FactorsThe fast food is already famous at globally. And MFC has brought innovations in their fast food.MFC will serve hygienic fast food with its superior quality service to their respected customers.For the publicity of MFC will use different mediums of Advertisement. All fast food prices willbe reasonable and affordable for everyone and these things bring shine to MFC. In the marketalready have many competitors, So MFC has to avoid all unnecessary things and just focus onfood quality food, Service quality and price etc.Secondly the owner of MFC has completed his MBA. And he has experience in the businesssector how to manager and run the business.Thirdly the MFC business will start after all evaluation about this certain industry and market inPeshawar, Pakistan. After the MFC apply for license and loan from bank. When MFC will getapproval of license and bank loan then it will start.Lastly before opening the restaurant will try the taste and quality of the food. After this fast-foodprepare with perceptions of the consumer. 6.9 Risk MitigationsRisk always exists for any kind of business. The occurnce of risk can be external of business aswell as the internal such as; the retention of consumers is low, change the taste of people, poormarketing tools. And other factors also conclude in risk like change in government policies,instability of political condition, recession and inflation etc. Here other risks are given below indetail;6.9.1 Internal RiskIn the internal risk can be bad management, poor food quality, bad service, financial crises andunprofessional staff. These things basically can be counted as the internal risk of business.6.9.2 External RiskDifferent aspects affected to business as the external risk which can be these;SOCIAL RISK Social risk is an external risk and in social came the society which is living in urban and ruralareas. Modernization is changing the taste and living style of people. This also can be affected tobusiness as externally.POLITICAL ASPECTSNowadays the political condition in Pakistan is not stable. The instability of political situationcan affect to any business as external threat.ECONOMIC ASPECTSEconomic condition deeply touched to any kind of business. If the economy of country is stableand good then the business will run effectively and if the economy of country is not stable suchas Burma then business can be go down or badly affect by this.TECHNOLOGY ASPECTSToday in this modern world technology also play it role for success of business. If any businessdid not upgrade to their equipments and technologies with passage of time then this also canbecome an external risk for any business. 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