STAKEHOLDERS AND STRATEGIC DIRECTION JUNE 2013
2. Company profile
4. Stakeholder analysis
5. Corporate strategy
6. Business strategy
7. Functional strategy
8. Operational strategy
9. Strategy and stakeholders
For any business, becoming and staying the market leader is a huge task, even for household names such as McDonald's. Keeping ahead involves continuous hard work to enhance the reputation of the brand, coupled with product innovation based on detailed market research that indicates how to please customers. McDonald's has built its success around a formula of providing a range of standardized high quality products quickly and cheaply there are over 31,000 restaurants in more than 114 countries. Today, many people live busy lives and place great importance on convenience when buying and paying for goods and services. They are attracted by modern, quick service products such as drive-in car washes, mobile phones and ready meals. For many people (though not all), this emphasis on instant service is a winning formula, particularly for younger people and young families. However, research indicates that modern consumers of all ages are seeking experiences that are more individualized than in the past. McDonald's is developing new concepts and products that provide a more personal experience while still giving excellent value for money .The competitive environment
The competition they face, they must define their market accurately. This involves recognizing a broad base of competitors. McDonald's has thousands of competitors, each seeking a share of the market. McDonald's recognizes that it is up against not only other large burger and chicken chains but also independently owned fish and chips shops and other eat-in or take-out establishments. A company like McDonald's therefore, has to develop competitive strategies that differentiate it from its rivals.
All organizations need to be in touch with their business environment in order to make sure that what they do fits with customer expectations. These expectations change over time. McDonald's operates is becoming increasingly competitive, as the chart below illustrates.
Recently, in this crowded market place, McDonald's competitive lead came under pressure largely because many fast food outlets have either: . McDonald's recognizes the need to respond. It is looking to increase the competitive gap by: * adding greater value through innovation
* making the process of visiting a McDonald's less routine and controlled * enhancing the overall in-house experience.
McDonald's Restaurants | Staying ahead in a competitive environment
McDonald’s is Global – and in Your HometownMcDonald’s is the leading global foodservice retailer with more than 34,000 local restaurants serving approximately 69 million people in 119 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local men and women.Our goal is becoming customers favorite way and place to eat and drink by serving core favorites such as the world famous French Fries, Big Mac, Quarter Pounder and Chicken McNuggets.Our Strategic DirectionThe strength of the alignment among the Company, its franchisees and suppliers (collectively referred to as the System) has been key to McDonald’s success. This business model enables McDonald’s to deliver consistent, locally-relevant restaurant experiences to customers and be an integral part of the communities we serve. In addition, it facilitates our ability to identify, implement and scale innovative ideas that meet customers’ changing needs and preferences.
McDonald’s customer-focused Plan to Win provides a common framework for our global business yet allows for local adaptation. Through...
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