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This case analyses the strategic development of Kentucky Fried Chicken from its beginnings in 1952 through 2004. Both corporate strategy and business strategy are discussed. The case then discusses the fast food industry from both US and global perspectivess A framework for analysing international business risks and making country portfolio decisions is then introduced. Latin America, in particular Brazil and Mexico, are used as examples of how country evaluation and selection may be performed by international firms. The case can, therefore, be used to develop the students'' critical thinking of strategy, industry analysis, and international business. In addition, it can be used as a basis for a variety of group projects and in-class presentations. This case was sponsored by the Indiana University CIBER Case Collection.