McDonald's Corp
McDonald’s Corporation
1.0 Introduction of the company
McDonald’s is the world’s largest chain of fast food restaurants, serving 69 million customers daily. Since its founding in 1948, McDonald’s has grown from a family burger stand to a global fast-food behemoth operating more than 34,000 local restaurants in 119 countries. 80% of the restaurants are owned and run by independent local men and women as the result of franchising. McDonald’s is known as a sign of globalization, as it operates all over the world.
The first restaurant was founded in 1940 by Richard and Maurice McDonalds in San Bernardino, California. That little stand was a prerequisite to what later established the main principles of modern fast food restaurants in 1948.
In 1954 Ray Kroc became a franchising agent for the McDonalds brothers, and in 1955 he opened his first McDonald’s restaurant in Des Plaines, Illinois that nowadays serves as a company’s museum. In 1955 Ray Kroc founded the McDonald’s Corporation and in 1961 he bought all the company rights from the McDonalds brothers, further making it the leading global foodservice retailer. “By 1958, McDonald’s had sold its 100 millionth hamburger”, says the official website of the company.
2.0 SWOT Analysis
Strengths
The main strength of McDonald’s is that it is a widely and very well-known brand. Every adult knows the famous Golden Arches and every kid knows Ronald McDonald. Adding to that, it is also the largest fast food chain in the industry and number one in annual sales. Due to the huge recognition it is easier for McDonald’s to promote new products and get the customers interested. And McDonald’s does use this strength by making heavy investments on advertising and improving the products.
As for me, one of the reasons why McDonald’s became so big is that they are available everywhere, 24/7. Most of the stores are located at very populous areas, such as theme parks, airports, stores, and the decision on where to eat
1.0 Introduction of the company
McDonald’s is the world’s largest chain of fast food restaurants, serving 69 million customers daily. Since its founding in 1948, McDonald’s has grown from a family burger stand to a global fast-food behemoth operating more than 34,000 local restaurants in 119 countries. 80% of the restaurants are owned and run by independent local men and women as the result of franchising. McDonald’s is known as a sign of globalization, as it operates all over the world.
The first restaurant was founded in 1940 by Richard and Maurice McDonalds in San Bernardino, California. That little stand was a prerequisite to what later established the main principles of modern fast food restaurants in 1948.
In 1954 Ray Kroc became a franchising agent for the McDonalds brothers, and in 1955 he opened his first McDonald’s restaurant in Des Plaines, Illinois that nowadays serves as a company’s museum. In 1955 Ray Kroc founded the McDonald’s Corporation and in 1961 he bought all the company rights from the McDonalds brothers, further making it the leading global foodservice retailer. “By 1958, McDonald’s had sold its 100 millionth hamburger”, says the official website of the company.
2.0 SWOT Analysis
Strengths
The main strength of McDonald’s is that it is a widely and very well-known brand. Every adult knows the famous Golden Arches and every kid knows Ronald McDonald. Adding to that, it is also the largest fast food chain in the industry and number one in annual sales. Due to the huge recognition it is easier for McDonald’s to promote new products and get the customers interested. And McDonald’s does use this strength by making heavy investments on advertising and improving the products.
As for me, one of the reasons why McDonald’s became so big is that they are available everywhere, 24/7. Most of the stores are located at very populous areas, such as theme parks, airports, stores, and the decision on where to eat
References: Anon., 2012. We First. [Online] Available at: http://simonmainwaring.com/brands/how-mcdonalds-is-using-social-media-to-answer-its-customers-tough-questions/ Facebook, 2013. Facebook. [Online] Available at: https://www.facebook.com/McDonalds James, R., 2009. Time World. [Online] Available at: http://content.time.com/time/world/article/0,8599,1932839,00.html#ixzz2ctZ36bgY Kroc, R. A., 1977. Grinding it Out: The Making of McDonald 's. Chicago, IL: Contemporary Books, Inc. McDonald 's, 2010. McDonald 's. [Online] Available at: http://www.aboutmcdonalds.com/mcd.html Moth, D., 2013. econsultancy.com. [Online] Available at: http://econsultancy.com/my/blog/62329-how-mcdonald-s-uses-facebook-twitter-pinterest-and-google Pinterest, 2013. Pinterest. [Online] Available at: http://pinterest.com/mcdonalds/ Twitter, 2013. Twitter. [Online] Available at: https://twitter.com/McDonalds