- April 15, 2014
- Posted by: essay
- Category: Term paper writing
- The company is able to adapt to different cultural contexts and is open to new innovations;
- The company is able to conduct different researches in order to use green energy resources;
- McDonald’s has the opportunity to create the new products. It is ready to develop new advertising channels, such as mobile communications;
- Some restaurants can be moved to more fashionable places.
- One of the main issues is currency fluctuations, as the prices of food are standardized;
- Fast food restaurants and other chains are significantly increased (Burger King, Starbucks, KFC.). This fact reduces the food prices;
- Meals in restaurants cause some health problems – McDonald’s has repeatedly sued in cases of injury to health;
- High investments in advertising decrease the company’s revenues.
This is a well-known fact that one of the most critical factors in order to have a perfect and successful strategic management system is to possess the ability to make different decisions properly and strategically. Decision making is considered to be an integral part of any company that can have an effect on the outcome of its common goal.
Usually a decision making process can consist of setting the potential goals, collecting the necessary information, choosing a certain plan of actions the company should adhere to, and executing the plan.
Talking about the company’s decision making process, it is possible to say that the most functional and strategic decisions of the company are that it used a franchise to release the power of operators who own their own businesses.
Thus, the adoption of certain management decisions, such as irreproachable and quick service; menu that reflects the latest tendencies; the highest international standards; franchising; tight control of the quality of service and products; skilled, professional and knowledgeable marketing experts, mechanism for involving all the employees in the development and introduction of different innovations has yielded the significant results.
The life cycle of a company’s team is very important for its full activity. Therefore, team dynamics as one of the major factors that influence the company’s external atmosphere is critical for any company’s operation. By a simple definition, team dynamics is an interaction of members of social groups together. There are many types of relationships and interactions. The processes of group dynamics are: leadership, opinion group formation, group cohesion conflicts, group pressure, and other ways of regulating the behavior of group members. Group leadership can be democratic or authoritarian, short or long term, the atmosphere within the group can be friendly or hostile. MacDonald’s is a perfect example of a company, which presents democratic group leadership. Friendly team is the key to the company’s success and popularity. Employees are the foundation of the company. This is what makes McDonald’s special. McDonald’s gives equal and fair opportunities to all employees and all who wish to get a job. It provides equal opportunities for career growth and wage increases regardless of gender, marital status, religion, national origin or age.
Thus, in conclusion, it is possible to say that the main secret of MacDonald’s success is the way with the help of which the uniformity of production is achieved. The company operates, mixing consistency and creativity. Three elements of the McDonald’s system (franchisees, managers and suppliers) are obviously dichotomous in relation to each other. All the people involved in the process are entrepreneurs. The participants have common economic incentives and overall standards of quality, service and cleanliness.
Hence, the company’s precise and organized policy towards business partners has yielded the significant results. Nowadays, McDonald’s Corporation is one of the most popular fast food restaurants all over the world, which operates in different corners of our global.