Navigating Change: Restaurant Brand International's Response to the COVID-19 Pandemic Challenges

The covid-19 pandemic hit the world by storm, crippling big and small companies alike. One of the well-renowned food restaurants affected by the coronavirus is Restaurant Brand International, a hotel popular for its wide range of dishes and accommodations alike. The first quarter of the COVID-19 pandemic threatened to bring the economy to its knees as hotels closed due to the travel restrictions and social distancing policies being adopted to combat this highly communicable virus. After a while, the food eateries have adapted to come up with strategies to try and earn some revenues despite the reduced number of customers willing to turn up to the shops to buy fast food (Donthu & Gustafsson, 2020). To cover for this large pool of seemingly lost customers who are keeping social distance back at home, Restaurant Brand International has taken to drive through to deliver their food to clients at their residences.

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It's estimated that Restaurant Brand International has made over 10,000 drive-through deliveries since the full pandemic force was gathering moss around early March. This has henceforth caused a shift in the demand for in-house workers to delivery employees (Alekseev et al., 2020). Similarly, the company has retrenched some of its staff to significantly lower the costs spent on paying employees. Similarly, packaging employees have been continuously reduced as the year lapses. It is therefore evident, that most middlemen and workers involved in the business ended up losing their jobs as a result of the COVID-19 pandemic.

While all companies faced an imminent decline in revenue as a result of the COVID-19 pandemic, Restaurant Brands International faced similar challenges, but its mode of operation through diversification enabled it to continue with its operations though slightly affected by the price change. As expected, the wave of the pandemic has largely affected economies throughout the world (Alekseev et al., 2020). Due to the unavailability of adequate labor as a result of the lockdown, many companies ultimately lowered their cost of production, thereby reducing the supply of products in the market (Nicola et al., 2020). Consequent to the reduction of commodities in the market, there was increased demand for almost every product in the market.

While supply reduced and demand increased as a result of the covid-19 pandemic, products and services offered by Restaurant brands, and international businesses were forced to endure an unavoidable increase in price. As a result of the increase in prices of company-related goods, it opted to channel the immediate cost to its consumers (Yang et al., 2020). The business significantly raised its prices in order to at least level their generation of income. Increased prices proportionately contributed to the decline of consumers that consumed Restaurant brands' international products. The post-covid-19 pandemic has, up to date resulted in the downfall of most economies because individuals are yet to recover fully from the crisis.

Conclusion

In conclusion, we identify the post-covid-19 pandemic has hugely impacted the progress of the economy almost entirely crippling large and small businesses. Restaurant Brand International encompasses among the several businesses the COVID-19 pandemic has negatively affected in terms of human resource management, culture, and price. In correlation to human resource management, we identify that a number of staff were forced to quit their jobs as a result of a decreased rate of production in the industry. An increase in prices of products used by Restaurant Brands International consequently led to the business adjusting the prices it offers to its consumers. As a result of increased prices, there was also a significant decrease in the number of customers that consumed Restaurant brand international products.

Reference

Alekseev, G., Amer, S., Gopal, M., Kuchler, T., Schneider, J. W., Stroebel, J., & Wernerfelt, N. (2020). The Effects of COVID-19 on US Small Businesses: Evidence from Owners, Managers, and Employees. Managers and Employees (September 10, 2020).

Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of Business Research, 117, 284.

Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., ... & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International journal of surgery (London, England), 78, 185.

Yang, Y., Liu, H., & Chen, X. (2020). COVID-19 and restaurant demand: early effects of the pandemic and stay-at-home orders. International Journal of Contemporary Hospitality Management.