Taco Bell 2004 Annual Report Download - page 7
Download and view the complete annual report
Please find page 7 of the 2004 Taco Bell annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.packandnooneelsehasthepowertocombineleading
brandslikewedo.Thechallengewehaveistoexecuteit
rightandmoreprogressneedstobedonebeforeweaccel-
erateourgrowthrate.Toborrowafamousphrasefromthe
legendarybasketballcoachJohnWooden,ourstrategyis
to“bequick,butnothurry”sowetakeadvantageofthe
uniqueopportunitybybuildingthebusinesstherightway.
Multibrand Key Measures: at least 550 multibranding
additionsperyear,earningareturnoncompanyadditions
severalpointsabovethecompany’scostofcapital.
#4RUN
GREAT
RESTAURANTS
AsIstatedlastyear,wehavepocketsofoperatingexcel-
lencearoundtheglobe.Forexample,ouroperationsin
countrieslikeChinaandAustraliaarefirstclass.Ialso
wrotethatwehadclimbedfromthebottomtothemiddle
of the pack versus competition in the U.S. I’m pleased
wecontinuedtomakeprogressacrossalmostallourkey
operatingmeasuresthisyear,especiallyatTacoBell,but
objectivelywecanonlygiveourselvesnomorethanaC+
gradeonour2004performance.
“Mediocrity plus” clearly isn’t good enough for you or
us and most importantly, it’s not good enough for our
customers.Infact,ourcustomersintheU.S.aretelling
uswearegivingthema100%CHAMPSexperienceonly
53%ofthetime(upfrom49%in2003).CHAMPSstands
forexecutionalbasics(Cleanliness,Hospitality,Accuracy,
Maintenance,ProductQualityandSpeed)andweareonly
deliveringthebasicexpectationsofourcustomershalfof
thetime.
Werealizeconsistentexecutionofourbrandexperience
isthecornerstonetoconsumertrust,whichiscriticalto
consistentsamestoresalesgrowth.Sowe’reworkinghard
onoperationalenablers,likenewpointofsaleanddrive
thru systems, telephone access for home delivery, and
technologyforbackofhousesystems.Mostimportantly,
Whetheryou’reoneofoursmallest
customersenjoyingaspecialChickyparty,
adeliciousA&Whamburgerandshake
oralunchdatewithmom,ourCustomer
Maniacsareputtingsmilesoncustomers’
facesaroundtheworld.
5