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TERM PAPER

Of
International Business (IBS 3121)
On
International Business Operations of Transcom Foods Limited

Prepared for

Mr. Saiful Islam


Prepared by
M. A. Imam Jubayer, ID# 111 103 127
Ferdous Ahmed, ID# 111 121 091
Hasan Shakil Ahmed, ID# 111 121 063
Mariam Khandoker, ID# 111 121 558
Md. Rakibul Islam, ID# 111 121 579
Mohtasim Ahmed, ID# 111 121 659
Section

E
Date of Submission

29th December 2014

Executive Summary
The term paper explains how Transcom Foods Ltd. (TFL) a subsidiary of Transcom Group works
with the worlds largest and popular chain restaurant franchisor Yum! Restaurant International
(YRI)s KFC franchise. The discussions mainly intended to provide what it takes for TFL to do
business with YRI by stepping into food and restaurant industry as a part of international
business.
Firstly, we have discussed about the brand image of KFC, the extent of its popularity in the world,
and for that what compliances TFL needed to fulfill to be the sole franchisee in Bangladesh. It
included the training, funds, and the right amount of passions that TFL needed to deliver have
been mentioned thoroughly discussed.
The agreement comes then with what amount of obligations, provisions, price, and other vital
issues that is added in the franchise agreement between TFL & YRI. The most critical points
which are emphasized here are trade restrictions, assignment of TFL, and termination of
provisions. Right after that the financial terms between TFL & YRI, that has royalty payment of
6% of gross sales, 15% of rental payment, and many other fees with contract renewal period of 5
years.
Meeting up with all these above required fundamental elements, YRI comes toward its Global
Franchise Partnering with TFL. This consists of one system approach with 5 principles brand,
product & franchising excellence with market development. The market growth and customer
service of KFC that is maintained by TFL is analyzed with demographic, halal compliance, and
unique flavored food to customer accommodation. Here we have expressed the competitive
advantage that TFL possess due to the first ever international chain restaurant franchisee of Pizza
Hut and how it can have positive impact on KFC as well.
Then the major component of KFC, the chicken is described with full features. How it processed
and supplied with the strict international regulations that has been set by YRI, such as
transporting, holding or procedures of humane slaughtering. Another most important factor
involved with both TFL & YRI is legal, environmental & economic issues of international trading in
Bangladeshi perspective. Where it is shown that the legal restrictions, convertible risks, cultural
differences, and pricing restrictions impacts both the parties. Most significant from these
environmental issues which expressed political instability, corruption and bureaucracy that slows
down the business activity and hampers the local run of the business for YRI through TFL.
Lastly in the problems & recommendations section where we have identified two problems that
KFC has faced in the recent past in Bangladesh, one with poor handling of bird flu which raises
the price unusually higher for KFC food than rest of the world; secondly, the anti-American
sentiment that is building up for killing innocent people in war affected countries like Palestine.
Where for the first problem we recommended to run campaign promoting to cook chicken in
right amount of temperatures, and launch campaign to stand against the killing of innocent
people in the so called war against terrorism.

Contents
Page #
PART A --------------------------------------------------------------------------- 1 2
(I) About Transcom Group --------------------------------------------------------------------------------------- 2 2

PART B ------------------------------------------------------------------------- 3 18
(I) Transcom Foods Limited (TFL) ------------------------------------------------------------------------------- 4 4
(II) Franchise Requirements ------------------------------------------------------------------------------------ 5 5
(III) Training & HR ------------------------------------------------------------------------------------------------ 6 7
(IV) TFLs Franchise Agreement ------------------------------------------------------------------------------- 8 8
(V) Costs & Profits involved in the Franchise --------------------------------------------------------------- 9 9
(VI) Global Franchise Partnering -------------------------------------------------------------------------- 10 10
(VII) Market Growth & Customer Service of KFC ------------------------------------------------------ 11 12
(VIII) KFC Poultry Welfare Guidelines --------------------------------------------------------------------- 13 14
(IX) Legal, environmental & economic implications -------------------------------------------------- 15 17
(X) TFLs Business Benefits ---------------------------------------------------------------------------------- 18 18

PART C ------------------------------------------------------------------------ 19 20
(I) Problems & Recommendations ------------------------------------------------------------------------ 20 20

SOURCES ------------------------------------------------------------------------ 21 21

Part A
ORGANIZATION PROFILE

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About Transcom Group


Originated with tea plantations in 1885, TRANSCOM today is one of the leading and fastest
growing diversified business houses in the country employing over 10000 people. Not many
industrial groups in Bangladesh can claim a history of continuous business pursuits
stretching back over 125 years! Initially tea and later jute formed the backbone of the family
business.
Although these are still part of the activities and contributing marginally to the overall
group turnover. Presently those early industrial ventures have moved over to businesses
involving high-tech manufacturing, international trading and distribution, forming strong
ties with a host of blue chip multinational companies. In recent years, TRANSCOM has
emerged as the largest media house in Bangladesh. List of the companies and associates
under the group:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.

Transcom Electronics Ltd


Transcom Foods Ltd
Transcom Beverages Ltd
Transcom Mobile Ltd
Transcom Cables Ltd
Transcom Distribution Co. Ltd
Bangladesh Electrical Industries Ltd
Transcraft Ltd
Bangladesh Lamps Ltd
Eskayef Bangladesh Ltd
Mediastar Ltd
Tea & Rubber Farms
Mediaworld Ltd
Reliance Insurance Ltd
Transcom Consumer Products Ltd

The key and most influential person of Transcom Group is Mr. Latifur Rahman, Chairman &
CEO of Transcom Group. The companys head office is located in Gulshan Tower (Plot# 31,
Road# 53, Gulshan North C.A, Gulshan-2, Dhaka-1212, Bangladesh).
The term paper is based on Transcom Foods Ltd (TFL), and it explains
their international ties and business dealings as a TFL of KFC, a
subsidiary company of the worlds largest restaurant company Yum!
Restaurants International (YRI) which is situated in Louisville,
Kentucky, U.S.

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Part B
BUSINESS OPERATION

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Transcom Foods Limited (TFL)


TFL started its journey in 2003. It signed the contract to become the TFL of Kentucky Fried
Chicken (KFC) in the year 2006 with Yum! In a span of 9 years, TFL has more than 11 KFC
outlets so far throughout Bangladesh.

KFC stands for high-quality fast food in a popular array of


complete meals to enrich the consumers everyday life. It wants
to serve great-tasting, finger lickin good and so good chicken
meals that enable the whole family to share a fun, uninhibited
and thoroughly satisfying eating experience, with the same
convenience and affordability of an ordinary Quick Service
Restaurant.
TFL successfully launched the flagship KFC on South Avenue, Gulshan in September 2006. It
has already won over the heart of the Dhaka crowd with its great tasting food, high standard
of hygiene, cleanliness, terrific interior and of course excellent and affordable pricing. TFL is
setting their targeted customers as affluent and upper middle class people, where a large
portion is youth.
Following its enormous success in Gulshan, the second outlet was opened in Dhanmondi in
November 2008, and yet another in Banani in December 2008. They have opened two
outlets at Eskaton on February 2010 and others are in Bashundhara, Paltan, Mirpur,
Laxibazar of Dhaka city. Outside of Dhaka, outlets are in Chittagong and Coxs Bazar.
To operate business with Yum! TFL at first had to achieve and fulfill many requirements and
compliance of standards that have been given by Yum! All those requirements, maintaining
of compliances, current business exchanges and operation which are faced continuously by
TFL in operating the franchise is discussed onwards.

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Franchise Requirements
The initial core requirements were the customer oriented spirit, right infrastructure and
funds that needed by the TFL were as follows:

To become passionate about the work.

To become a "Customer Maniac": Someone that understands that success comes from
putting the customer first.

Becoming ambitious and driven, and having the vision and desire to succeed.

Obtaining professional managerial experience - in the service industry (in the


distribution, commercial or financial area), with the necessary skills to successfully
operate, manage and grow an international standard restaurant business.

To be prepared to bring sufficient capital to purchase or lease the land, building,


furniture, fixtures and equipment necessary for the restaurant.

After verifying the credibility of all these above, TFL has received:

Training: TFL and its senior team required to attend a 12 to 16 week training session at
Yum!s training centers and selected restaurants.

International Franchise Agreement: Yum!s franchise agreement grants the revocable


right to use their trademarks, logos, their system and system property of the brand at
the agreed upon location. For that privilege, TFL has paid an initial fee, as well as a
monthly royalty fee and an ongoing marketing contribution - both of which are based on
the restaurant's gross sales.

Finally, TFL got YRI (Yum! Restaurants International) Global Franchise Partnering System

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Training & HR
KFC believes People Capability First Satisfied Customers and Profitability Follow based
on this philosophy YRI set up and provided the extent and logistic support and sharing the
ideas for the management and staff of TFL.
Here TFL and YRI tries to follow the same range of human resource to have that the other
KFC franchises have throughout the world for ensuring to give almost same the customer
service experience that any customers will get from other KFC restaurants in other parts of
the world.

KFC human resources department acts as a business partner to other areas of the
organization and for this reason must be aligned with the business strategies of the
organization. Some of the key contributions the human resources function makes to the
success of KFC are:
Attracting, recruiting and selecting the best possible employees for the organization
Training and developing employees to reach their maximum career potential.
This also enables the company to benefit from its employees improved skills and
knowledge
Providing a strong performance-based reward system, e.g. compensation, bonuses and
promotions, to ensure that employees are performing at their optimum and that they are
adequately recognized for their efforts
Providing systems and tools for managing human resources processes
Ensuring Occupational Health & Safety (OH&S) procedures are correctly implemented, and
Ensuring the organization complies with industrial relations laws.
Employee retention is an important issue for the quick-service restaurant industry where
the average Team Member turnover is approximately 80 percent annually. KFC recognizes
that high Team Member turnover can lead to low employee morale, the loss of cumulative
experience and difficulty attracting the right employees. This downward spiral would affect
its profitability.
Therefore TFL makes managing Team Member turnover a high priority for its Restaurant
Managers and as a result currently operates at impressively low industry Team Member
turnover levels of 55-60 percent annually. Another of the TFL Human Resources
Departments key responsibilities is to ensure that Yum!s How We Work Together principles
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are firmly entrenched within the KFC culture. These values underpin the way the
organization operates, measures itself and structures how its employees work together and
are therefore extremely important for driving people capability.

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TFLs Franchise Agreement


The purchase agreement of the contract covers:
1. The franchise package
2. The price
3. The services to be provided.
4. The franchise or license agreement
5. The rights granted to the TFL
6. The obligations undertaken by the YRI
7. The obligations imposed upon the TFL
8. Trade restrictions imposed upon the TFL
9. Assignment/death of TFL
10. Termination provisions
The most critical in any international franchising agreement and also for YRI & TFL are:
Trade restrictions
The restrictions imposed upon a TFL may prohibit him or her from carrying on a similar
business except under franchise from the YRI, taking staff away from other TFLs, carrying on
a similar business in close proximity to other franchised businesses within that chain, and
continuing, after termination of the franchise contract, to use any of the YRIs trade names,
secrets, and so forth.
Assignment of the TFL
The TFL should ensure that in the event of death his/her personal representative or
dependent will be able to keep the business going until one of them can qualify as a TFL,
and that arrangements can be made to keep the business going until a suitable assignee can
be found at a proper price.
Termination provisions
Franchise relationship laws specify the conditions under which YRI may terminate or refuse
to renew the franchise, imposing a standard of good cause, reasonable cause or just
cause as defined by those laws. Minimum advance notice usually has an opportunity to
cure the default and avoid terminations; notice ranges from five days to 90 days.
In view of the close working relationship that must exist between the TFL and YRI all
provisions must be stated clearly in the contract. In this transaction, no small print should
exist. Make sure, if possible, the franchise contract contains provisions that are favorable for
both TFL and the YRI.

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Costs & profits involved in the Franchise


Financing
YRI generally helps in franchisees financing process. It often takes part in equity. But in case
of our country KFC franchise is fully locally financed.
Gross profit
TFL can charge 65% of gross profit on sales.
Royalty Payment
The franchisee has to pay 6% of gross sales per month to the franchisor as royalty which
covers operational and other management support including use of the trademark of KFC.
Rental payment
TFL has to pay 15% of gross sales per month to the YRI as rent.
Promotion Fee
The franchisee has to expend approximately 1 to 2% of gross sales per month in the local
market for advertisement and promotion.
Initial investment
The initial investment ranges approximately from USD 2 million to USD 3 million per outlet.
Besides it also has several low cost concept packages to suit TFLs budget. The Mirpur wing
of KFC has been started under low cost concept packages.
Duration of the contract
The first franchise agreement is made for term of five years. It is renewable for similar terms
with renewal of franchising fee of around ($40,000) on the basis of performance of the
outlets. All the KFC outlets have extended contract duration under YRI.

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Global Franchise Partnering


Its a way of engaging, training and supporting TFL, and is YRIs One System approach. YRI
uses Global Franchise Partnering to ensure the best possible matches of TFLs markets and
brand.
It is how YRI help TFL to achieve restaurant excellence, facilitate effective communication,
provide evaluation and feedback, share best practices and develop a recognition culture.
Through meetings, regional meetings and local business reviews, YRI provides a forum for
TFL to be involved in the development of the business and the brands.
Periodically, YRI surveys TFL to understand how YRIs efforts and resources can be better
deployed to help further grow TFL.
YRI One System Approach is based on five core principles:

Brand Excellence
Market Development
Product Excellence
Restaurant Excellence
Franchising Excellence

And two enabling disciplines

Organizational Excellence
Financial Excellence

YRI Culture consists of:

Passion
Founding Truths
Work Together Principles
Partnership Pact
Dynasty Model

All together YRIs System and Culture form the YRI Way, and TFL upon these foundations run
their business to obtain their profitability and growth which also plays a major role for
extending the franchise agreement between YRI & TFL for each future specified period of
time.

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Market growth & customer service of KFC


TFL has successfully implemented the global brand appeal of KFC by mixing it with the local
responsiveness of the cultural tastes and preferences of Bengali people. When making any
offers through any promotional campaigns it blends the international brand and flavor of
KFC with the local cultural essence in it.
Thus KFC has achieved good popularity in Bangladesh, by opening up new outlets
throughout the country. Especially KFC managed to gain a foothold among the affluent city
dwellers in Dhaka City.
Demographic
Since, Bangladesh is a Muslim country comprising 90% Muslims of total population. It
adapts a western themed halal restaurant, i.e. Muslim Customs and Traditions. Besides,
Dhaka is a city of 15 million people, with 5% or 750,000 comprising of the well-traveled city
rich, who clearly enjoy the fast food experience.
Competitive advantage
TFL is the first to make an entry in franchising business in the Quick Service Restaurants and
fast food industry by introducing itself as a franchisee of Pizza Hut in 2003 in the country. So
it got the first mover advantage and by it KFC can be better positioned utilizing the
knowhow and approach toward the customers that has been gained by TFL through
operating the Pizza Hut.
Halal compliance
KFC products are prepared with strict halal compliance. The use of vegetable oils and other
halal items in the production process to make them trustworthy to the Bangladeshi
consumers. No food items are prepared with those which are not considered halal and
hygiene.
Family Restaurant
The interior design is comfortable, cozy, convenient and child friendly. For which it gives a
theme on which a relationship can be build with the valued customers.
Unique flavored food
Its unique flavored profile which infuses American fast food-themed dishes with customized
local taste helps building customer loyalty across the city.

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Quick Service Restaurant


Since KFC is a chicken based quick service restaurant which helps them to retain customers
in the busy hours.
Size of the outlet
The standard size for a KFC outlet is among 2000 to 5000 square ft.
Customer accommodation
KFC has a restriction for minimum customer accommodation in every outlet. In the major
cities the outlet must accommodate 100 to 180 people at once and in the minor cities
minimum 50 people. In our country Gulshan branch of KFC can accommodate 300
customers at once. Other 3 branches also follow these restrictions.
All the efforts made by TFL here is to present and resemble a customer experience to any
customers which they cannot differentiate from any of the KFC outlets that operate
throughout the world. This in turn helps to uphold the same brand image and performance
of KFC worldwide for YRI.

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KFC Poultry Welfare Guidelines


To maintain the International Health Standards & Maintenance TFL needs to work with
those suppliers who actually can fulfill the guidelines properly of KFC.
KFC Poultry Welfare Guidelines KFC has had an animal welfare policy for a number of years.
In 2000, KFC adopted specific, comprehensive welfare performance standards for
processing chickens and audits its suppliers against those standards. As shown below, KFC's
processing guidelines and audits are designed to manage and monitor each step of the
process to determine whether the birds supplied to KFC are handled humanely and any
suffering is minimized. KFC audits its suppliers for compliance, and non-compliance could
result in termination of the supplier's contract. KFC's policies for its suppliers apply to all
chicken intended to be sold to KFC. KFC's guidelines for its suppliers include:
General
Suppliers must have a documented program for animal welfare including a designated
program leader, formal employee training, and a system of regular self-audits and record
keeping. Corrective action for suppliers' deviations from KFC's poultry welfare guidelines
should be clearly stated and effective. Birds arriving at the plant should be clean and in good
health. If an audit reveals dirty or sick birds, corrective action at the grow-out house must
be taken by the supplier.

Catching
KFC's guidelines also provide that every reasonable precaution should be taken to minimize
injury to birds arriving at our suppliers' plants.
Transport
KFC's guidelines call for transport crates to be in good repair. KFC recommends that there
should be no crate damage that would allow injury to birds or allow crates to accidentally
open.
Holding
Birds held in storage sheds by our suppliers should be provided adequate ventilation.
Humane Slaughter
Slaughter equipment at all supply facilities should be properly maintained to confirm that
the birds are slaughtered quickly.

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It is focused on attracting customers who prefer healthier options which is halal and
hygiene. It offers an increasingly popular range of set meals that cater to the health
conscious. The KFC Roasted Chicken coupled with home-styled side dishes. And king-size
fresh fruit juices and milk shakes, where the fruits and other components are examined
carefully and that is surely are confirmed to any health conscious customer.
It is stated that if the Audit committee find any irregularities carrying out the standard
procedures of TFL mismanagement regarding the supplies of the chicken for which any
health problems arise and degrades the Brand image of KFC. It will be considered as a
breach of the franchise agreement between TFL & YRI and it may be considered invalid from
the YRI management.

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Legal, environmental & economic implications


Legal restrictions
There is no legislation in Bangladesh specifically related to franchising. As the relationship
between YRI and TFL flows from a contract in the absence of specific governing legislation,
the law of contracts as embodied in the Contract Act, 1872 and other allied Acts is
applicable to a franchise agreement. Other pertinent areas of the law which are applicable
to franchise agreements are: Intellectual Property laws, Competition laws, Consumer
Protection laws and Labor laws.

Intellectual Property laws


Competition laws
Consumer Protection laws
Labor laws

Intellectual Property law


YRI is the proprietor of intellectual property rights, know-how, etc. Thus, protection of
intellectual property rights is of paramount importance to any international
franchisor. Foreign nationals and/or companies can protect their trade marks in Bangladesh
under the Trademark Act, 2009 by registering them under the prescribed class.
Competition laws
Every franchise agreement incorporates highly restrictive terms which would bring it within
the purview of the Monopolies and Restrictive Trade Practices ordinance, 1970 and lay it
open to scrutiny by the Director General of Investigation & Registration or the MRTP
Commission. Thus YRI & TFL ensure Restrictive trade practice, as defined, means a trade
practice which has or may have the effect of preventing, distorting or restricting
competition.
Consumer Protection laws
The Consumer Protection Act 2009 substantially impacts the development of franchising in
Bangladesh. It comes into play with regard to civil wrong and other actions arising from sale
of unhealthy food. The issue is if an unhealthy food sold by TFL causes injury to a consumer
or causes damage to the consumer, then does the consumer have recourse to the YRI and
the TFL or both. The answer to this depends upon factors such as the degree of control
exercised by YRI, the distance between the YRI and the TFL geographically, and the
equipment and know-how supplied to the TFL by YRI in relation to the food.

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Labor laws
No franchising contract can derogate from the countless Bangladeshi labor laws. Labor laws
governing the day to day conditions of TFLs employment and termination of employees in
times of shutting down the business or change in the franchise.
Country-level factors include for YRI including legal restrictions, political risk, cultural
distance/national culture, corruption, institutional characteristics, political stability and
market size.
Cultural differences
The distance of possible cultural differences between the two countries here its Bangladesh
& U.S. in terms of behavior, methods of working and organizational practice makes
integration with the unfamiliar environment of Bangladesh, it would have increased the cost
of YRI. However YRI managed to reduced it through TFL to handle all the required business
procedures and setting up of all business operations. As a result it helped YRI to cope with
the unfamiliar culture of Bangladesh with the help of TFL to blend in more to the local
responsiveness of the target market customers.
Convertibility Risk
The exposure is tolerable here in Bangladesh. The Foreign Investment Act guarantees the
right of transfer of invested capital, profits, capital gains, and approved royalties and fees
for YRI. Bangladesh Bank does not fix the exchange rate against foreign currencies, but it
regulates conversion. The Bangladeshi Taka is almost fully convertible for current account
transactions, such as import trade and travel needs, but not for capital account transactions,
such as investing. TFL needs to import often the equipment and logistics from the
prescribed YRIs manufacturing points to maintain KFCs international standards. All these
measured under this government set convertible options.
Pricing Restriction
TFL reported to YRI that due to inefficiencies in monitoring the market price level different
commodities, the price level of most products get higher. VAT and excise taxes are imposed
at various rates, depending on the class of goods, but are not uniformly collected from all
sellers in the marketplace. Enforcement sometimes discriminates against foreign suppliers,
giving domestic suppliers an implicit price subsidy. Which is why, a major supply of KFC are
now started to come domestically to TFL.

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Corruption
TFL and YRI management often report their experiences with high corruption, such as
paying extra fees for obtaining government services (post office boxes, utilities, licenses,
customs clearance).
Both TFL and YRI constantly deal with the bureaucracy of Governance, institutions and
regulation in Bangladesh, periodic political unrest and with the Market Challenges &
opportunities from the other competitors of this rising restaurant industry of Bangladesh.

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TFLs Business Benefits


Franchising arrangement is meant to create a win-win situation both for YRI and the TFL.
Thus TFL utilizing it in many ways, the existing features which they are enjoying are:

TFL making the task a bit easier for them because here YRI provided them with a
business format which is already established worldwide with a brand that
represents high quality.

TFL reduces the chance for failure. A significant amount of franchise fails if
franchisor steps in an unknown territory all by itself. Which YRI did not do, where as
TFL made them provide with all the support as a locally established business firm to
operate the franchise successfully.

Since they become affiliated with such highly recognized giant restaurant chain like
Yum! TFL has increased the credit worthiness. They can easily finance their any
viable projects by applying within a very short period of time from any financial
institutions. As a result TFLs purchasing power has been increased.

TFL gets the results of the research and development that are done by the YRI
regarding the restaurant industry business and may use it to develop future
different business ventures by themselves.

TFL currently has the only privileged rights to franchise KFC throughout Bangladesh.

And last but not least; one of the worlds best known franchise name like KFC
becomes quite easy and convenient at the time when TFL negotiates for desirable
outlets sites with the building owners.

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Part C
PROBLEMS & RECOMMENDATIONS

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KFC operates worldwide with a brand that ensures trust with a premium quality of Fast
Foods. However recently worldwide they are facing allegations of hygiene issues. It is mainly
because of preparing the chickens. In recent times like the whole world Bangladesh also was
also affected by Bird Flu disease.
Here TFL addressed theses issues poorly; their supply of chicken got reduced and raised the
prices very higher than the usual KFC worldwide outlets. This hampered most of the
consumers greatly. YRI and TFL were able to do it because of other reasons as well that we
have discussed under legal, environmental and economic implications.
Due to lack of functions for consumer rights and politically unstable, corrupt and
bureaucratic government, and these may have encouraged KFC to take those policies. As a
result few portions of customers adapted switching to others.
Other disfavoring effects KFC need to deal with is Anti-American sentiments. As Bangladesh
is a Muslim major nation, these types of problems emerge when innocent Muslims are killed
in the wars in Afghanistan, Palestine and Pakistan. With that customers avoid to go to the
outlets and again switch to other quick service restaurants.
To tackle these issues TFL and YRI certainly need to work together. TFL to fight Bird Flu can
take measures which ensure proper vaccinations by its suppliers and raise the awareness
that the fried chickens are cooked in a proper amount of heat to kill the germs of the flu.
Moreover make themselves accountable voluntarily to consumers of Bangladesh by
undertaking several constructive promotional campaigns and big events. On the other hand,
YRI can launch a worldwide campaign to stand against the killing of innocent people in the
so called war against terrorism.
Hopefully these steps can alleviate a bit the impressions on KFC in the minds of the
customers and overall help TFL and YRI to operate more smoothly in the markets of
Bangladesh with greater market share and profitability.

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This term paper has covered information regarding Transcom Foods Ltd. (TFL) & Yum!
Restaurants International (YRI) extensively from many websites, where a significant amount
comes from the following sources:
http://www.transcombd.com
http://www.yrigfp.com
http://www.kfc.com
http://www.kfcfranchise.com
http://www.afrbiz.com.au

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