Issue 3 Economic growth of globalization Globalisation in emerging markets tends to create a lot of pressure on companies- how to localise products and offerings is a key question most companies are uncertain about (Barbara, 2013). KFC transformed the mindset of individuals who thought it was a place of novelty and only special occasions could be celebrated given the fact it's an American brand and must be expensive. Their learning came along a trail and error path across countries due to lack of acceptability and enduring approach. However, the brand made several attempts to regain the market with their statistical moves and we're successful. Owing to this success the pillars of expansions were set across countries to open franchises (NADINE, 2012). The brand firmly believes in expanding rapidly while also developing the economic state of the country by contributing it's bit. Furthermore, the brand stands successful for all these years due to their constant research and trend checks allowing them to train their employees, cater to customer feedback and create opportunities for developing logistics and supply. The remarkable growth of KFC in China has seen over 3300 stores in the past decade and rapidly picking up pace with one store a day basis with a vision of establishing 15000 outlets (David and Mary (2011). All this was possible due to their strategic approach of deployment learnt from their past experience from the United States with limitations around menu, pricing and dine out implications. Several publications have studied the KFC business model that states the brand dwelled into consumer behaviour researched and analysed key position parameters across countries to gain competency against its competitors. With the research there were 5 competitive advantages that KFC leverages effectively for global expansion and seizing the market place (Ewing-Chow, 2020). In this quest, KFC has seen a surge being a development machine that accounted for over 372 new stores in over 46 countries during the first quarter of 2019 and accounting the global store number to 22,886 locations with a 6% new unit growth rate. While several of their stores also were permanently closed at 107 locations. These numbers have become a standard and the sales expectation spiked from last 3 years With a 5% YoY growth. With localization and customised menu options in China the sales jumped to 11% high accounting the overall sales growth of 27% across countries in 2019 (John and Michalis, 2016). Furthermore, it has over 250,000 employees alone in China and holds and holds a 40% marchainfood chain. KFC ensured customers visit them often by deploying a sales traction mechanism with introduction of la carte menu customisation ranging from 2$ to 20$ for individual and family meals respectively. Furthermore, the brand also experimented with their menu board dealings and provided delivery through Grubhub. Allowing users to pick up deliveries with just a click across 3200 units. Some of the highest grossing products of KFC are buckets and la carte range and are ordered around dinner and bone in chicken packs. Furthermore, the brand recall of KFC was tested across counties with billboard ads mocking burger king, it's competitor that gained a lot of eye rolls. Furthermore, the brand is well versed with creating an infusion of western brands with localization across countries to retain a customer base. While the brand seizes opportunities in the form of drive throughs and home delivery options it is also popular at opening stores opposite it's competitors presence. Reference Barbara, D. (2013). “The identification of the effects of globalization on the Fast-food Industry”. Retrieved 26 September 2020, from https://barbradozier.wordpress.com/2013/01/25/theidentification-of-the-effects-of-globalization-on-the-fast-food-industry/ David, B and Mary, L. (2011). ”KFC’s Radical Approach to China”. Retrieved 26 September 2020, from https://hbr.org/2011/11/kfcs-radical-approach-to-china Ewing-Chow, D. (2020). The Globalization Of Fast Food, Public Health And Why We Should Have An Eye On Jamaica. Retrieved 26 September 2020, from https://www.forbes.com/sites/daphneewingchow/2019/04/18/the-globalisation-of-fast-foodpublic-health-and-why-we-should-have-our-eye-on-jamaica/#21ef15db5351 John, M. and Michalis, E. (2016). “Towards An Assessment Of Globalization And Localization Of Western East-food Chains In China: The Case Of Kfc”.Retrieved 26 September 2020, from http://www.eajournals.org/wp-content/uploads/Towards-An-Assessment-of-Globalization-andLocalization-of-Western-East-Food.pdf NADINE, G. (2012). GRIN - “The Internationalization of KFC”. Retrieved 26 September 2020, from https://www.grin.com/document/207195 Economic Growth of Globalization Globalization The term globalization defines business expansion in global market. It helps individual economies benefit with growth. It provides favourable competition and creates job opportunities. It makes markets more efficient and reduces military conflicts among countries. ● It aids in building human capital and stringer financial systems. ● It boosts the economic growth of low and middle income countries. ● ● ● ● Advantages & Disadvantages Advantages Disadvantages 1. Helps scale economies with deeper division of labor & economies 1. It may lead to inequality in income and wealth opportunities 2. Helps reduce the risk pertaining to monopoly and benefits with cost reduction 2. It may lead to inflation 3. It may not be able to sustain vulnerabilities of external economies 3. Improves per capita incomes and aids in economic growth 4. It may cause irreversible damage to ecosystems 4. Aids in freer movement of labour across countries. 5. It may create social consequences 5. Helps onboard technologies and techniques 6. It may create trade imbalances due to trade surpluses and low demand 6. Helps raise funds from capital markets 7. It may lead to unemployment due to cost of production at countries 7. Increased awareness of brand and products 8. It may create a dominant global brands 8. Aids in labour protection improvements References Advantages and Disadvantages of Globalization to Economy. (2020). Retrieved 26 September 2020, from https://www.ukessays.com/essays/economics/advantages-disadvantages-globalization-2381.php Samimi, P., & Jenatabadi, H. (2014). Globalization and Economic Growth: Empirical Evidence on the Role of Complementarities. Plos ONE, 9(4), e87824. doi: 10.1371/journal.pone.0087824 How Globalization Impacts International Investors and Economic Growth. (2020). Retrieved 26 September 2020, from https://www.thebalance.com/globalization-and-its-impact-on-economic-growth1978843 Nasser, G. (2020). “What is the Advantages and disadvantages of Globalization???.”Retrieved 26 September 2020, from https://www.researchgate.net/post/What_is_the_Advantages_and_disadvantages_of_Globalization Globalisation - Benefits and Drawbacks | Business | tutor2u. (2020). Retrieved 26 September 2020, from https://www.tutor2u.net/business/reference/globalisation-benefits-and-drawbacks 
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