Mac Donald core value (price, employee, food)
Value of Mac Donald Abroad (France, America)
Relation with the theories
McDonald’s Corporation is one of the world’s leading fast food chain restaurants. McDonalds is known to be both service and product industry. As a service provider, unlike other fast food restaurants, McDonald’s treats its customers appropriately, as if they are in a regular restaurant. In terms of product, it offers its customers a big variety of fast and tasty food for affordable price.
The corporation started out as a small drive-through in 1948 by two brothers, Dick and Mac McDonald. Raymond Albert Kroc, a salesman, saw a great opportunity in this market and advised Dick and Mac to expand their operation and open new restaurants. In 1961 Albert Kroc bought out the McDonald brothers. By 1967 McDonalds expanded its operations to countries outside the U.S.A. This unyielding expansion led the Corporation to open 23,000 McDonald's restaurants in 110 countries in 1994, producing $3.4 bn in annual revenues. In addition, McDonald's opens a new restaurant every three hours. Similarly, McDonald's serves about 1% of the world's population on any given day through its 23,000 restaurants internationally.
McDonald's vision is to dominate the global food-service industry. Global dominance means setting the performance standard for customer satisfaction and increases market share and profitability through successfully implementing our convenience, value and execution strategies.
A competitor is an organization that competes with other organizations for resources. McDonald's has two types of competitors: Indirect and Direct Competitors. Indirect refers to firms producing one or two products that compete with McDonald's products and therefore be a threat to the company. I...