2 pages/≈550 words
Business & Marketing
STRO McDonald's (Essay Sample)
McDonald's Corporation is one of the best known global brands. Starting with 2004, McDonald's witnessed a turnaround from a business slow-down, and became very profitable again, despite a high turnover of CEOs. The company continues to be profitable despite the slow economy as compared to other fast food restaurants. Serveral years ago, McDonald's leadership decided to continue to grow, using many new strategies, such as refurbishing locations, customizing service in each country and geographic area, enhancing R&D and product development, as well as marketing and packaging, extending service, offering healthy choices, and so on. Many of these trends have continued to the current day. Case Assignment Expectations Please write a 3 - 4 page paper, answering the following question: Of the four functions of management, which one or two functions has McDonald's leadership used the most effectively in order to remain the most profitable fast food restaurant in the world? Readings: Background Materials Articles: Required Readings! First, spend some time reviewing some NY Times articles on some of McDonald's recent activity. Anonymous, (2013). McDonalds Corporation. The New York Times. Business Day. Retrieved from: http://topics(dot)nytimes(dot)com/top/news/business/companies/mcdonalds_corporation/index.html?offset=10&s=newest Also read: Steveman, B., (2010). McDonald's: Winning a hard-times, fast food fight. Bloomberg Businessweek. Retrieved from: http://www(dot)businessweek(dot)com/bwdaily/dnflash/content/mar2010/db2010038_123647.htm Here are some older articles to consider regarding McD's strategy to makeover their stores several years ago. You may find some of this relevant to some of the successes they have enjoyed over the past few years. You are also welcome to do some searching on your own. Arndt, M., (2006). McDonald's 24/7. Bloomberg Businessweek , Iss. 4020; pg. 64, retrieved at 07/22/2010 from: http://www(dot)businessweek(dot)com/magazine/content/07_06/b4020001.htm A Golden Recipee for McDonald's Europe Kerry Capell, K., (2008). A golden recipe for Mcdonald's Europe. Business Week (on line), New York, July 18, 2008, retrieved from: http://www(dot)businessweek(dot)com/globalbiz/content/jul2008/gb20080717_293203.htm Please also visit the McDonald's Corporation Website and conduct additional research! Helpful Tips: Please first read in-depth the Background Materials Identify key concepts (main functions of management: Planning, Organizing, Leading, and Controlling) and study them Read the cases in-depth and conduct additional research, if necessary Find facts in the case to match functions of management Consider all four functions of management but focus on which function or functions have been the most crucial in McDonald's success. Planning: Vision (one example can be growth from within, or diversification into Cafe's), Strategies (what strategies does McD's practice to compete, such as marketing, international expansion), Organizing: How these strategies are implemented through franchisors, for example Leadership Very strong executive leadership (despite a high turnover, the company has continued its successful growth, strong internal CEO succession) Controlling Unique standards and policies, very strict controls in all units and all over the world Format In order to develop good business communication skills, it is recommended you write papers using the following structure, using headlines and titles. Introduction (road map, explain main issue and list and main points to be developed) Main Body: Develop each point in the Introduction, applying theory to facts, in subsections (one subsection per main point). Conclusions: Summarize main paper points List of references. Citing your Sources: APA Style TUI requires all PhD work to be in APA form. We also require all other students to comply with guidelines for proper citation of references. You may use the information found on the following links: http://owl(dot)english(dot)purdue(dot)edu/owl/resource/560/01/ Other resources you may want to look at to assist you in writing college papers: This is an extensive guide to college writing from the University of Maryland. Pick specific chapters or browse the whole text! http://www(dot)umuc(dot)edu/ewc/onlineguide/chapter1/chapter1-01.shtml source..
Today, McDonald’s serves more than 64 million customers on a daily basis and is the world’s leading fast-food restaurant. Founded by Ray Kroc back in the year 1955, the company has its headquarters in the United States (HYPERLINK "/authors/334-ben-steverman"Steverman, 2010). While the idea of the fast food was Ray’s the McDonalds hamburger chain store was initiated by Maurice McDonald and Richard, who then gave Ray the rights. Majority of its restaurants that are running in the world today are as a result of incorporation, franchise, or through affiliation with the mother company. The corporation collects it revenue from the sales it makes through it many restaurants it operates, rent, fees that the franchisees pay and the royalties. The main dishes at the restaurants started with hamburgers, French fries, chicken, soft drinks, breakfast items, shakes, cheeseburgers and desserts. Today due to the public demand the company has extended its servings to smoothies, fruits, wraps, coffee and salads.
Of all the functions of management, McDonalds have perfected the planning art and it’s no doubt that it is the leading fast food company in the world today. When Ray first took control of the restaurant that had started as a barbeque stand and later as a hamburger stand, he initiated the drive-in concept. At the time the restaurant only managed to serve two meals in a day that is lunch and dinner. As such the restaurant would open just before lunch and close right after the dinner hours, for more than twenty years. With the introduction of the Egg McMuffins back in 1975, the restaurant capitalized on the breakfast items. By the year 2003 the restaurant had more that 13,700 branches in the USA and more than 90%of those would go throughout the 24 hours (Arndt, 2007). Throughout the restaurant’s history expanding has been at the core of their growth. As it pushed off the competition to the curb by opening as many branches in the United State and abroad, bringing in new products to the market, the company realized diminishing returns and it shifte...
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