Name: Yum! Brands CEO Thinks Key To Success is To Focus on the Details
Uploaded: 2017-11-02
Duration: 4 min 44 s
Description: Greg Creed wants to be “relevant, distinctive, and easy” by paying attention to what matters most to the customers.

Greg you're celebrating two big milestones at Yum! brands, the 20th anniversary since you were spun off from Pepsi and the one year anniversary since you separated your China operations into an independent public company, Yum China. So where do you go from here? What's the next big thing. I think there's so much opportunity for Yum! We've got three brands, we're in 129 countries. And so we've got Massive geography to expand into. I mean a lot of the world, we have like one restaurant per million population. In more developed parts of the world, we've got as many as like 27 restaurants per million population. So, the way I look at it is, we can expand KFC, Pizza Hut, Taco Bell globally. So you've got 44, 000 restaurants already and I understand that you open six new ones every single day. I mean that's just an incredible number but how much bigger can you really get? I think we can easily double the size of them- You're going to double the size? Yeah, you can easily double the size of the- If you think about the number of people in the world, and if you think about, you know, just our ability to expand in both developed markets and developing markets. Around the world as you see we are opening a new KFC every eight hours. Somewhere in the world we open a new KFC every eight hours. We think we can open one every five hours. Why do you want to get so big? We want to bring the great taste of our food to the world. People love food, and I think food has changed in its role. Food used to be about fuel Food in a lot of parts of the world these days is about an experience. And we say an experience worth sharing. And so I think our ability to bring that, we bring food safety standards to the world. There's a lot of positive things that we do. Jobs, employment, construction, supply chain. And ultimately we had shareholder value which is really what this is about. So you talk about food experience. Yeah. What does that really mean when you walk into a KFC, a Taco Bell, or a Pizza Hut? Right. What is the experience? I care about things like the ambiance. I care about what's the setting. Is the air conditioning nice? Is the experience I'm having with the team members at the front, is it a great experience? Let's talk a little bit about Pizza Hut. You said it is struggling and you said there's a lot of work to do. Yeah. What's the plan? A lot of it is about people wanted pizzas hot. So we announced just recently we're gonna deliver our pizzas 15 degrees hotter. So we've got new delivery bags. We've upgraded the packaging. People said they wanted to track where their pizza is in the process so we've got tracking. People said they wanted a loyalty program so we've added loyalty. You could argue a lot of that's not sexy, but it is what customers really want. And listening to customers, I think is one of the most critical things we can do. Give customers what they want, not what we think they want or we think they need. You've also said that you wanted to be relevant and distinctive, what are you picturing? Well relevant distinctive and easy. You think about AMazon you know if you're going to order on Amazon which a lot of people do you don't want your pizza experience not be as good as your amazon experience. A whole thing about life being easy is what millennial particularly millennial s are really looking for so we've got a lot of work to do. But I'm really proud of what the team is doing. And I truly believe they are focusing on the things that [ UNKNOWN ] to the customers .>> Well talking about Amazon .>> Right .>> It's moving very quickly into the food business. It's got whole foods. And there was chocolate that it's gonna get into this meal kits business. What is your Amazon strategy? When our strategies Amazon strategy our strategy is to go out to business listening to our customers and what they want is delivery. So this whole idea of being a digital delivery centric business so today people know us for delivering pizza hut. We've been doing that for many many years. What people don't realize today is we have a thousand Taco Bells that now deliver, we're getting into the delivery business with KFC in the US. We deliver around the world so. Delivery will become a way for people to get access to the brands they love, which is the three brands that we've got in the Yum! portfolio. Mm- hm, every CEO I meet with talks about how critical it is to have technology involved in their operations. How is technology changing the fundamental way that Yum! operates? I see technology as an enabler. The first thing you need is great people. Without great people, this doesn't work. Often people say to me. Cuz not everyone knows what Yum is, right? So people say, well, what business is Yum in? And I go, we're in the people business. And they look at me like, and I say. I say no we sell pizzas and chicken on tucker's but we're really in the people business. So for my belief is people and then technology really as an enabler for us to connect with our customers, connect with you know the things that matter in life. Do you see a day where you might use robots in the kitchen of your various franchises or even behind the counter. I think we're gonna be a people business for a long long time. Now, there are things like marble ordering and other kiosks turning up in restaurants, yes there are. But at the end of the day we have chefs in our KFCs and we literally take raw chicken and we cook it. So, I think we're a long long way from robots replacing people in our restaurants.

Yum! Brands CEO Thinks Key To Success is To Focus on the Details

Leadership

Greg Creed wants to be “relevant, distinctive, and easy” by paying attention to what matters most to the customers.