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McDonalds
The firm I chose is McDonalds, and I chose this company for a few different reasons. The first reason is that this is the top franchise operator in the world, and one might as well learn from what the best do. McDonalds basically invented the modern franchise, back in 1955, and over time have perfected the concept. The second reason is that there is a wealth of information available. Some of the firms on the list at Entrepreneur Magazine are privately-held, and that probably means there is very little information about them. Thus, McDonalds is a good company to use as a starting point for entrepreneurial and franchise studies. There is no reason to select a company that is not the best at what it does -- I have no intention of being second best at what I do.
In the quick service restaurant industry, it costs about $1 million to...
McDonalds has a franchise fee of $45,000 and the total startup cost for one restaurant is between $1.068 million and $1.892 million, depending on factors such as real estate costs (Entrepreneur.com, 2012).
With respect to economics there are a few interesting issues. The first is utility. We know that McDonalds has a high level of appeal to consumers, but it also competes as a low cost producer. Some products that cost more, therefore, must have higher utility. I want to know how McDonalds creates that. The second economics concept that I want to study with respect to McDonalds is the firm's ability to overcome the issue of opportunity cost. McDonald's competes in a highly competitive industry, and within that industry consumers have a lot of choices. Often, a person who wants food now must make a choice between the nearest…
Works Cited:
Entrepreneur.com. (2012). McDonalds. Entrepreneur.com. Retrieved May 16, 2012 from http://www.entrepreneur.com/franchises/mcdonalds/282570-0.html
McDonald's Corporation This is an attempt to study the history and development of one of the great institutions of United States and a part of the images of the country that has spread in the whole world. As is well-known, the dominance of the world by United States came after the Second World War when the traditional leaders of United Kingdom and Germany lost their predominant positions due to the destructions
McDonalds I chose McDonald's because it is a brand that is larger than simply a fast-food hamburger chain. McDonald's is the global leader in hamburger fast-food restaurants, serving almost 60 million customers per day. McDonalds' are operated as a franchise, an affiliate, or a corporate store. They have over 32,000 locations worldwide, were founded in 1940, and posted an approximate sales revenue over almost 25 billion in 2010. They are a
Strategic Organizational Communication Description of the Organization In this discussion, my organization of choice will be McDonald's Corporation. On its website, the firm describes itself as a "leading global foodservice retailer with more than 35,000 local restaurants serving nearly 70 million people in more than 100 countries each day" (McDonald's, 2014). Like any other company keen on reflecting its intentions, McDonald's has a clear and precise mission statement that reads: McDonald's brand mission
Strategic Management at McDonald's McDonald's Strategic Management Strategic Management at McDonald's Strategic Management at McDonald's McDonald's: Introduction Organizational Structure and Corporate Governance Industry Sector Analysis Michael Porter's Five Forces Model Key conditions in the External Operating Environment of McDonald's and its Industry The Value Proposition on McDonald's Products Financial Performance SWOT Analysis for McDonald's TOWS Matrix for Alternative Strategies BCG Growth Share Matrix for McDonald's Marketing, Financial, and Research & Development Strategies McDonald's Leadership Joint Ventures, Strategic Alliances, and Partnerships Performance Measurement Methods and Benchmarks Recommendations References Table of Contents Sr.
decisions a small business owner. Since microeconomics study individual households, firms, government, a closer operations a franchise firm. . You select ONE firm a list Entrepreneur magazine: http://www. Microeconomics McDonald's is one of the most popular franchises across the globe. The firm represents the epitome of corporate success, but it is also an emblem of the American way of life. The fast food industry is an important segment of the current
External and Internal Environments The purpose of this paper is to analyze the external and internal environment of McDonald's in the light of general environmental forces (social and demographical forces and economic forces), competitive environment (rivalry among existing competitors and the bargaining power of customers), internal strength and weaknesses, and external opportunities and threats. The paper also analyzes the company's core competencies, resources, capabilities, and value chain which have helped it