Mcdonald's
McDonald's Corporation is the world's leading food service organization. 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 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. Also, McDonald's has twice the market share of its closest U.S. competitor, Burger King, representing 7% of total U.S. eating-out sales. Similarly, McDonald's serves about 1% of the world's population on any given day through its 23,000 restaurants internationally. "Big Mac", the world's most sold hamburger was developed by Jim Delligutti in 1967 to feed construction workers. 'Big Mac' is the biggest attraction and backbone of the corporation. Moreover, McDonald's maintains its competitive advantage by constantly creating new items to add onto its menu.
We have identified four indirect competitors: Henry J. Beans, T.G.I. Friday, K. F. C. and Popeye's. In brief McDonald's customers are of all classes, but largely working and middle classes, and people of all ages. Henry J. Beans offers hamburgers and fries on its menu, therefore competing with McDonalds for customers of these products. However, Henry J. Beans also known as Hank's is a more of a bar restaurant and therefore a hang out place, as a result charging more money for its products. Hank's targets middle to upper class customers, so where most of these customers overlap are in the middle class. Direct competitors refers to firms producing the same products or services as McDonald's does. We shall also explore McDonald's Workforce Diversity and its Total Quality Management.
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Approximate Word count = 1778
Approximate Pages = 7 (250 words per page double spaced)
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