During the mid-1980s, I was a manager at PepsiCo, Inc. PepsiCo’s corporate strategy was to build a strong market position in three industry groups: (a) soft drinks, (b) snack foods, and (c) restaurants. PepsiCo’s restaurant division included Kentucky Fried Chicken (KFC), Taco Bell, and Pizza Hut. In 1988—less than 2 years after PepsiCo’s acquisition of KFC in October 1986—I joined KFC as manager of finance and strategic planning. My responsibilities included managing KFC’s monthly financial reporting documents, which were presented to the president of KFC-International each month. I also managed the strategic planning process, analyzed potential acquisitions, and presented proposals for new restaurant construction projects in Puerto ...
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