The Status of Fast Food Industry in North America (Essay Sample)

The North American Fast Food Industry
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The North American Fast Food Industry
Fast food can be considered as any meal that has low preparation time. A food restaurant within the industry is a type of restaurant that serves fast food and mostly has minimal table service (Namba, 2013). People tend to have a huge consideration on fast food due to the low price compared to restaurants. Due to the said reason, fast food industries have emerged in large number in North America.
During the emergence stage, industries would have emerged in large number due to changes that would create opportunities for entrepreneurs. This would cause competition between the industries thus lowering the prices to attract the customers (Lang, 2015). In this stage, no domination would have viewed in emerging industries although large markets tend to lag behind compared to small ones in entering new industries because they needed to create more certain financial returns even if it would be lower. Also, small fast food industries would have tended to rely on simpler structures thus low cost leading fast growth (Lang, 2015). Generally, North America would have been dominated by many small fast food industries. Creativity and innovation were key elements at this stage and only the hopeful and optimistic entrepreneurs would venture their dreams.
The drives against the emergence of the industry at this stage are the high demand for a product and high technology due to high knowledge of the entrepreneurs (Namba, 2013). Many firms enter the industry with aim of emerging market leaders, thus many small competitors tend to emerge enhancing competition in the fast food industries. The rise is slow due to an increased number of entrepreneurs.
View fast food industries would have moved from emergence stage to the growth stage in North America. As the product breaks through the marketplace and is used and the growth rate of the industry is fast compared to the rest of the economy. This stage requires funds to continue investing in a certain property and facilitate growth that would be required by the demand of the market (Nestle, 2013). More standardization would be seen at this stage thus encouraging economies of scale and facilitating the development of a line flow layout for production efficiency.
Industries' growth would have seen as slow, moderate, very rapid and negative. This would only differ in the effort of the industries. If the industry is successful, demand would be high thus creating sales growth thus high earning and