APPlYING MCKINSEY’S 5 R FRAMEWORK IN THE ADJUSTMENT OF RESTAURANT ENTREPRENEURS IN THE COVID-19 EPIDEMIC

Abstract

This academic article aims to study and present 4 important contents as follows: 1) The spread of COVID-19 in Thailand.  2) The impact of the spread of COVID-19 to restaurant entrepreneurs. 3) McKinsey’s 5 R Framework 4) Applying McKinsey’s 5 R Framework to adjustment of restaurant entrepreneurs in the COVID-19 epidemic. The study found that COVID-19 has affected restaurant entrepreneurs resulting in decreased revenues and operating results causing them to adapt to survive. Restaurant entrepreneur have changed there service style by product improvement, add a delivery channel and other methods that can be apply from the 5 R Framework of McKinsey & Company, with a process from resolve, resilience, return, reimagination and reform which, if applied will help to survive.