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Finance & Accounting
Pages 3 (753 words)
McDonald’s Corporation is the largest fast food chain in the world. It is present in almost every country of the world. It has been experiencing rapid growth since its birth and posing a lot of managerial problems to be solved…
McDonald’s Corporation is the largest fast food chain in the world. It is present in almost every country of the world. It has been experiencing rapid growth since its birth and posing a lot of managerial problems to be solved. The management of McDonald’s has never faced a problem which is too difficult for them or one they cannot solve. They are diligent people who know the job they are doing and they try to tackle all the problems keeping in mind their core-competencies and skills. One of the toughest jobs of a financial manager is cost control. Cost control is an old concept and large organizations usually have specialists for this job. Many organizations employ operations managers to make sure that there is no wastage of resources or operations are not over utilizing the resources. Since resources are costly, therefore all good companies try to eliminate the wastage of resources. The main focus of large companies is on efficiency. A company is never efficient until it is cost efficient. Even allocative efficiency is second to cost efficiency. This makes the cost controlling a very important job in a large organization. (McDonald's 2010) McDonald’s bigness hinders the organizational ability to control costs from the head office. The company has many smart people to realize that faster than others. This has lead McDonald’s into developing cost control tools that will help the organization achieve its targets of cost control at every branch level in every country. ...
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