McDonalds Corporation (NYSE: MCD)
2111 McDonalds Dr. Oak Brook IL
McDonalds is the world’s largest chain of hamburger fast food restaurants. McDonalds serves roughly 68 million customers daily in over 119 countries and is currently headquartered in Oak Brook, IL. McDonalds began in 1940 as a barbeque restaurant by Richard and Maurice McDonald; in 1948, they reorganized as a hamburger stand and subsequently became the best in the business. The original mascot of McDonald's was a man with a chef's hat on top of a hamburger shaped head whose name was "Speedee." Speedee was eventually replaced with Ronald McDonald in 1963. The current corporation dates its founding to the opening of a franchised restaurant by Ray Kroc, in April of 1955. Ray Kroc purchased the McDonald brothers’ equity in the company, and subsequently led to its worldwide expansion. “In 1961, Ray launched a training program, later called Hamburger University, at a new restaurant in Elk Grove Village, Illinois. There, franchisees and operators were trained in the scientific methods of running a successful McDonald’s. Hamburger U also had a research and development laboratory to develop new cooking, freezing, storing and serving methods. Today, more than 80,000 people have graduated from the program. Right up until he died on January 14, 1984, Ray Kroc never stopped working for McDonald's” (McDonalds.com, 2013).
In the late 1980s, McDonalds began recognizing the importance of maintaining an ecologically correct posture with the public, which was becoming more concerned about the environment (Scribd, 2013). In 1989, a survey showed that 53% of the respondents would not buy a product because they did not know the effects the packaging would have on the environment. As a result, McDonalds partnered with the Environmental Defense Fund, to seek ways to ease their burden on the landscape (Scribd, 2013).
Some of their environmentally inspired solutions that came out of the collaboration with EDF were the: * Introduction of brown paper bags with a considerable percentage of recycled content. * Solicitation of suppliers to produce corrugated boxes with more recycled content, which had the twin effect of reducing solid waste and building a market for recycled products. * Abandonment of polystyrene clamshell containers to hold sandwiches in favor of new paper-based wraps that combined tissue, polyethylene, and paper to keep food warm and prevent leakage Today McDonald’s operates off of a well thought out Vision and Mission Statement and a set of core values that define what the company strives to achieve:
To be the best and leading fast food provider around the globe Mission
McDonald's brand mission is to be our customers' favorite place and way to eat, and improve our operations to provide the most delicious fast food that meet our customers' expectations. Values
Our values summarized in "Q.S.C. & V.". Provide good quality, services to customer. Have a cleanliness environment when customer enjoys their meal. The value of food product makes every customer is smiling.
A McDonald's restaurant is operated by either a franchisee, an affiliate, or the corporation itself. The corporation's revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonald's revenues grew 27% over the three years ending in 2007 to $22.8 billion, and 9% growth in operating income to $3.9 billion. Below is the organizational chart for the firm.
Main Products and Services
McDonald’s sells various fast food items and soft drinks including, burgers, chicken, salads, fries, and ice cream. In June of 1976, McDonald’s first introduced a breakfast menu as a way to fully utilize the physical plant. In 1980, the company rolled out the Chicken McNuggets. Occasionally McDonald’s brings back menu items for example the McRib,...
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