Introduction
Strategies are important for all businesses, regardless of the products or services that they offer. Through strategic management and operations, companies are able to integrate new and effective means of running their respective businesses. In turn, these strategies results in an increased profit of sales, stable market position and greater levels of customer loyalty. In the fast food industry, businesses such as McDonald’s must establish certain business and marketing strategies. Primarily, the main goal of McDonald’s, just like any other organization is to sustain their competitive advantage in the global market. Overview of the Company
McDonald’s has a rich history that started out in 1954. The company was put to the spotlight by Ray Kroc. Throughout the years, marketing ideas have poured through and helped the company become one of the most renowned fast food brands globally. The trademark design for the fast food was carefully studied and it came with a happy clown character known as Ronald MacDonald (McDonald, 2012). McDonald’s trademark sandwich, The Big Mac, is one of the many innovative products, the happy meal approach was also a creative marketing tool used to entice children to eat at McDonald’s because of the toys or other novelty items they can get. McDonald’s restaurants offer a substantially uniform menu, common in the usual fast foods. Many fast food restaurants, including McDonald’s, offer hamburgers, cheeseburger, chicken sandwiches, French fries, salads, milk shakes and desserts. As the market had changed towards a healthier lifestyle, the company added more nutritional products and the ability to go online to view nutritional information as well. Currently, “McDonald’s is the leading global foodservice retailer with more than 33,000 local restaurants serving nearly 68 million people in 119 countries each day” (McDonald’s, 2012).
Production
References: Adamy, Janet. (2009). McDonald’s Seeks Way to Keep Sizzling. The Wall Street Journal. http://online.wsj.com/article/SB123664077802177333.html. Retrieved on May 11, 2012. McDonald’s Corporation (2012). McDonald’s Our Company. http://www.aboutmcdonalds.com/mcd/our_company.html. Retrieved on May 10, 2012. McDonald’s turnaround CEO Jim Skinner will retire June 30. (2012, March). http://www.usatoday.com/money/industries/food/story/2012-03-22/mcdonalds-ceo- skinner-retires/53698736/1. Retrieved on May 15, 2012.