Yum! CEO Qu Cui Rong: Flexible innovation and reinating the city's fireworks

On June 16, the third lecture on the Tsinghua Innovation Business Forum (TIEF) hosted by Tsinghua University's Huashang Research Center Tsinghua University (TIEF) was held online. The theme of this forum is: "How to stabilize the economic growth in the second half of the 2022", and many guests from the industry academia jointly interpret the economic situation in the second half of the year. The audience watch online. The guests include: Member of the Chinese Academy of Social Sciences, the chairman of the National Financial and Development Laboratory, Li Yang, former vice president of the Chinese Academy of Social Sciences, Director of the Chinese Business Research Center of Tsinghua University, the winner of the Sun Yanfang Economic Science Award, and the Yum! Wait.

Yum! CEO Qu Cuirong gave a keynote speech. She said that the catering industry, as the representative of "urban fireworks", seems to be ordinary, is an important part of solving employment and boosting consumption confidence. Perseverance to innovation and creating value for customers are the key to grasping the demand for fast changes. While managing short -term risks, we must also see and seize new growth opportunities and continue to create a strong business model.

"Those who can survive must be those companies that quickly respond and adapt to changes."

Qu Cui Rong's various measures in the Shanghai epidemic in April in April stated that "only by enterprises that can quickly respond and adapt to change" can survive in the era of rapidly changing epidemic. Over the years, the excellent quality management and control capabilities and operating execution of Yum! Have played an important role in major supply guarantee tasks again and again. In this round of epidemic, as a people's livelihood, it not only provides the required catering guarantee for community residents, but also bear the food supply of medical staff. When only 10%of the stores in Shanghai insisted on business, Yum! The brands of Yum! In just a few days, it launched a cross -brand single delivery and community group purchase, promoting new retail, simplified menu, and effectively deploying limited resources to serve more. Multiple customers. It is this spirit of agile innovation and uncompromising that allows the company to achieve a turnover of 40-50%of the previous epidemic during the Shanghai epidemic, which shows the toughness of the company.

The foundation of digitalization is one of the keys to improving corporate response and innovation capabilities. Qu Cui Rong said that Yum! China has opened a digital transformation in the leading industry many years ago and opened up online and offline consumption experience. Through small programs, APPs, reaching more than 370 million members, and through digital, automated, IoT and other technologies, it improves the efficiency of restaurants and monitors inventory in real time, accurately predict demand, manage logistics routes, and reduce waste of ingredients.

Continuous innovation meets the needs that have not been met

Qu Cui Rong emphasizes the innovative ability to continue to create value for customers is the key to grasping the demand for rapid changes. She said that enterprises can only run the market only by observing consumer needs and meeting the needs of consumers without meeting. In 2021, Yum! China launched more than 500 new or upgraded products. Wait for real -time innovation, attract customers with high cost -effective new products.

Since the epidemic, consumers' consumption habits and behaviors have changed a lot. As a result, the company has created a flexible business model for different consumer scenarios, agile innovation. Yum! China ’s KFC and Pizza Hut brand quickly launched semi -finished products such as steak, pasta, fried rice, and instant foods. While filling the price range between traditional convenience food and takeaway, the epidemic“ home consumption ”was seized. The vent. In the first quarter of 2022, new retail sales increased by more than doubled year -on -year.

Internal certainty to cope with the uncertainty of the outside world

As the head of the Fortune 500, Qu Cuirong particularly emphasized that enterprises need to create "concentration" in the uncertain era. She believes that the first thing that enterprises must do is to strengthen their confidence and make their own growth strategies and growth paths, and to deal with the uncertainty of the outside world.

Qu Cuirong emphasized that short -term challenges will not affect the company's long -term confidence in China. She pointed out that with the development of urbanization, consumption upgrades, and increased consumer demand for food safety, the catering industry still has huge room for development. KFC has entered 1700 towns, and there are no more than 1,000 towns in KFC, while Pizza Hut only has stores in 600 cities, and more cities have to enter. Therefore, Yumsu China will continue to expand the store network and use innovative store models to allow brands to enter the blank area of ​​the market. She said that Yum! China will continue to increase investment in store network expansion, enhanced digitalization capabilities, and supply chain infrastructure, thereby strengthening the company's business toughness, accelerating business growth (Growth), broadening Strategic Moat), seize China's long -term development opportunities.

I insist on doing the right thing

As the largest chain catering company in China, Yum: Yum: Yum is shouldering the employment of more than 450,000 people. Qu Cui Rong specially talked about "saving a benevolent" and "insisting on doing the right thing."She said that since the epidemic for more than two years, the company has insisted on not layoffs, puts the livelihood, safety, and health of protecting employees, and has continuously increased employee benefits to upgrade the medical insurance for restaurant managers to millions of medical insurance.During the prevention and control of the epidemic, the company gave a love package for more than 10,000 employees in Shanghai and gave intimate love.As a people's livelihood guarantee enterprise, Yum! China maintains the restaurant business as much as possible, provides peaceful and delicious catering services for the community, and preferentially provides meals for the elderly in the community.Give out Thanksgiving gift package.

Qu Cuirong said: "The epidemic will eventually pass, and all walks of life will face a hard tough battle. I believe that as long as you maintain confidence and innovation, everyone can carry it!"

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