The impact of competition on financial performance among Zimbabwean fast food outlets

Author

Maweni, Jametias

Title

The impact of competition on financial performance among Zimbabwean fast food outlets

Abstract

The research investigated the impact of competition on financial performance among fast food industry using Simbisa Brands as a case study. The major aim of the study was to determine how competition affects financial performance of fast food businesses in developing country. The research further sought to identify the critical success factors and strategies that could be employed by fast food enterprises to remain competitive in the industry. A survey descriptive approach was used to conduct the study, and both quantitative and qualitative data were collected. 50 respondents were selected as a sample using the census sampling approach. Data for the study were gathered via interviews and questionnaires with a five-point Likert scale. Data were presented and analyzed using pie charts, bar graphs, and tables. SPSS was used to analyse the data. Spearman's correlation and multiple regression analysis were used to examine the components' statistical significance. The results from findings showed a negative relationship between competition and financial performance. The research concluded that fast food businesses are in highly competitive industry, therefore, adaptation and survival are top most priorities for companies operating in this industry. The study recommended that businesses in the fast food sector should pay more attention to the critical success factors and strategies as they aid in fighting competition and improves company’s financial performance.

Date

2023

Publisher

BUSE

Keywords

Financial Performance

Competitive Industry

Fast foods

Supervisor

Mr. Ngwende