Company Description: McDonald’s was found by an entrepreneur Ray Kroc. McDonald’s has a magic formula that has made McDonald’s what is it today. The organization believes that behind any successful product and behind any successful idea there should be one-part of inspirations and four-parts of perspiration. “Grinding it out” is the strategy that is in engraved in the culture of McDonald’s. By grinding it out McDonald’s means to show tremendous determination and hard work in order solve all the problems that may arise in the working operations or at the back-office operations of McDonald’s. This strategy made McDonald’s earn $23.5 Billion alone in the year 2008, and during the same period, McDonald’s was able to increase its market by an impressive 7%. McDonald’s Goals: McDonald’s is one of the few organizations that believe in setting SMART goals. It believes that all goals must be Specific, Measurable, Achievable, Realistic and Time-bound. This has made possible for McDonald’s to achieve its goals. Employees of any organizations prefer goals that are SMART, because they provide a sense of direction and employees do not get lost in the muddle. Mission Statement: “McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile." (About McDonald’s, 2009 pp. 23-41) The mission statement clearly tells us that McDonald’s has always wanted to be an organization whose focus will be on fast delivery of products to customers. The service time will be kept as small as possible. And we can see that McDonald’s has quite clearly adopted the mission statement into what it is doing these days. Not only the serving time is short for customers who eat at McDonald’s, but McDonald’s also try to keep the shortest possible delivery time for customers who order their products to be delivered at home. This helps people to have a quick breakfast and lunch at McDonald’s without getting late for their jobs. McDonald’s vision statement is divided into three core objectives, where they will try to achieve these SMART goals. Be the best employer for our people in each community around the world, Deliver operational excellence to our customers in each of our restaurants, and Achieve enduring profitable growth by expanding the brand and leveraging the strengths of the McDonald's system through innovation and technology." (About McDonald’s, 2009 pp. 23-41) The above vision statement clearly shows the smart goals that McDonald’s have developed in order to get achieve their mission in the long-term. Vision statement is clearly a path through which the companies achieve their long-term mission statement. McDonald’s just not only wants to become a successful business, but it also wants to be the best employer in the community. It also believes in delivering operational excel in its restaurants all around the world. This involves preparing, cooking and serving the products to the consumers at shortest possible time. Other than that, McDonald’s is also hoping to expand its brand through innovation and technology. This is an important part of the vision statement as organizations that tend to remain stagnant lose their market quickly, but not in the case of McDonald’s who is still growing despite achieve tremendous success all over the world.
Name Topic Module Executive Summary: McDonald’s is the largest food chain in the world. It is also one of the most successful corporations around the world. McDonald’s is so large that many management specialists and economists have created certain indices based on McDonald’s products…
COO Effect 9 References 12 1. Introduction Internationalization and globalization have changed the business environment thereby compelling companies to evaluate their strategies. Companies that operate in international business environment are likely to achieve success if they are able to combine standardization with adaptation.
The service sector involves interaction between service providers and service consumers. Service is characterized by certain elements. One of these elements is intangibility and insubstantiality of the service. This implies that one cannot use their senses to touch, smell, see or hear the service.
According to their Annual Report (2011), the company generates around 33 billion total assets (in terms of system wide sales) across all its franchising stores in the world. According to Brandz Top 100 Brand Ranking and Newsweek magazine, McDonalds indeed was the eight most famous and illustrious brand in the world with a brand value of $81,016 million.
Often companies plan and forecast but the actual result is different from the forecasted one. Theories are often good to study and get a proper understanding of the situation but they do not necessarily fit in real life. Uncertainty is part of life and a proper analysis to take a decision is important for companies.
This essay is an analysis of how companies respond to various changes in their respective environments and how they aim to achieve a competitive advantage simultaneously. Theories are often good to study and get a proper understanding of the situation but they do not necessarily fit in real life.
MacDonald, (2008, Online); Naylor (2004, PPT. 5.3); Drucker, (1984, p. 53-63).
However, their international investment has not gone without caching the heart of native country ethical concerns. Back in 2000, they were opening up their 500th store in Brazil, which is their 8th largest market with over 34,800 workers that made it the 3rd largest corporate employer in that country.
On contrary though, apart from foods and grocery, Wal-Mart dominates the sales sector stocking a wide range of products from sports equipments, office furnishings, clothing's and electrical appliances. It is important to carry out a survey on these firms' strategies that is the strengths, weaknesses, opportunities and threats.
the corporation was started in 1955 as Ray Kroc open the first franchised restaurant at Chicago of Illinois again in the United States. The restaurant opened by Ray Kroc was 9th in total and soon he bought the rights from the founder brothers. Today, McDonald's is present in 118 countries worldwide and there are more than 31,000 restaurants.
Floor running managers are subsequently followed by staff training crew. Crew members follow staff training crew. McDonalds’ is having a division organization structure at restaurant level. This structure consists of different teams