Mc Donald's Corporation
During the late 1990's and the beginning of the new millennium, McDonald's found itself in a regression, the first one since its conception in 1955. The Gold Arches weren't shining like they once did, however there are in the process of being polished, figuratively speaking. In 2003 McDonald's ranked eighth out of 100 brands in the Global Brand Scoreboard assembled by Interbrand Corporation and Business Week, proving that McDonald's is one of the world's best known and most valuable brands. However, that wasn't the case during 2001 and 2002.
McDonald's prided itself on its consistency in service, atmosphere, product quality, and restaurant experience. Every McDonald's restaurant was consistently the same. However, that all changed when McDonald's finished last in a national survey among 50,000 frequent eaters. The company that was once known for it good service and product quality, was becoming synonymous with poor service and product quality. In 2003 the company reported its first quarterly loss since it went public in 1965.
What went wrong for McDonald's? First, several new product launches didn't catch on with consumers. Second, McDonald's failed to improve operations, such as fast wait times for food, and custom orders. Third, internal conflict; franchise operators blamed corporate executives and corporate executives blamed the franchise operators for the problems the company was experiencing.
McDonalds has been the leader in the fast-food industry for decades, literally changing the way Americans ate. Like every other business, McDonald's is subject to opportunities and threats in their specific and general environmental sectors. Let's take a look at the opportunities and threats effecting the specific and general environment:
Opportunities: specific environment
Consumer tastes and trends are changing and McDonald's need to be able to adapt to them.... [continues]
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