TABLE OF CONTENTS INTRODUCTION 1 VISION, MISSION AND STATEMENT VALUES 1 INTERNAL AND EXTENAL ANALYSIS 3 Strength and weaknesses of McDonalds Opportunities and Threats Five Force Analysis COMPETITIVE AND DEVELOPMENT STRATEGIES 6 The cultural web CONCLUSION 8 REFERENCES 9 INTRODUCTION Strategic management is the way of implementing different business strategies and plans to attain certain specific aims and objectives. It involves collection of decisions and different rules and policies that tend to define the results that are generated in the form of better business performance. For undertaking these activities, management should possess an in depth understanding and be able to assess the general and competitive external and internal business environment to take proper business decisions (Cornelis, 2010). McDonalds is an organization that offers a range of products and services in a very effective manner that makes it a market leader in providing fast food services all over the world. By enforcing suitable strategies, McDonalds can increase its level of sales and will also help in upgrading as well as sustaining the market by acquiring competitive advantage (Schoenberg, Collier and Bowman, 2013). Vision statement of McDonalds McDonald’s vision statement can be said that it wants to be the world’s best quick service restaurant experience. Being the best for McDonald’s means that it needs to provide the best of the quality of food products, services, and cleanliness and value so that it can make everyone of its customer smile (Schmitt and et.al, 2011). A vision statement of the company is an idea for how business can be eventually perceived and what actions it will be taking for coming 5, 10 or 15 years for i... ... middle of paper ... ...rnational Strategic Management: Challenges and Opportunities. Taylor & Francis. Valdani, E., and Arbore, A., 2013. Competitive Strategies: Managing the Present, Imagining the Future. Palgrave Macmillan. Witcher, B., and Chau, S. V., 2010. Strategic Management: Principles and Practice. Cengage Learning EMEA. Online McDonalds and Ethical Issues. 2009. [Online]. Available through: . [Accessed on May 14th, 2014]. Peyeti, J., 2011. Porter's Five Forces - Analysis of the Daily Deals Market. [Online]. Available through: . [Accessed on May 14th, 2014]. The Cultural Web Aligning Your Organization's Culture with Strategy. 2013. [Online]. Available through: . [Accessed on May 14th, 2014].
De Wit, B., & Meyer, R. (2010). Strategy: Process, Content, Context, An International Perspective. Cengage Learning.
Pearce, J.A., & Robinson, R.B. (2013) Strategic Management: Planning for Domestic and Global Competition. (13th Ed.). Boston, MA: McGraw-Hill/Irwin. ISBN-13: 9780078029295
Arthur, A., Thompson, Margaret, A., Peteraf, John, E. Gamble, A., J., Strickland III. (2014). Crafting & Executing Strategy: The Quest for Competitive Advantage 19e: Concepts & Cases. C6-C25.
OPPORTUNITIES: McDonalds has many opportunities to change its look, menu, and customer service. McDonald’s started building newer building incorporating the arch, along with more modern furnishings. The menu has changed by adding more breakfast items and introducing the McCafe in certain areas.
In order to understand McDonald's structure and culture and why they continue to be the world's largest restaurant chain we conducted a SWOT analysis that allowed us to consider every dimension involved in the business level and corporate level strategies.
Thompson Jr, A.A. and Strickland III, A.J. 2003, Strategic Management: Concepts and Cases, 13th edn., McGraw-Hill Higher Education, NY.
Thompson, Arthur A., & Strickland, Alonzo J. 2003. Strategic management: concepts and cases. New York: McGraw-Hill/Irwin.
Strategic management is the ongoing process of ensuring a competitively superior fit between the organization and its ever-changing environment (Kreitner, G13). Strategic management serves as the competitive edge for the entire management process. It effectively blends strategic planning, implementation, and control. Organizations that are guided by a coherent strategic framework tend to execute even the smallest details of their mission in a coordinated fashion. The strategic management process includes the formulation of a strategy/strategic plans, implementation of the strategy, and strategic control. A clear statement of the organizational mission serves as the focal point for the entire planning process. People inside and outside the organization are given a general idea of why the organization exists and where it is headed. Working from the mission statement, management formulates the organization's strategy, a general explanation of how the organization's mission is to be accomplished. Then general intentions are translated into more concrete and measurable plans, policies, and budget allocations. Implementation is the most important part of the strategy. Strategic plans must be filtered down to lower levels to be success. Strategic plans can go astray, but a formal control system helps keep strategic plans on track. In the strategic management process general managers who adopt a strategic management perspective appreciate that strategic plans require updating and fine-tuning as conditions change. Given today's competitive pressures, management cannot afford to let strategic plans sit as is. A strategic orientation encourages farsightedness. Sun Microsystems Inc. is one company that developed a strategy to become the competitive leader and become the most reliable in the net business. I will explain how Sun's strategy integrates their marketing, management, technology, and service functions into one effective strategy. First I'll discuss who Sun is and what encouraged them to develop their strategy.
This McDonalds has some similarities and some differences compared to the McDonalds located in Washington Heights. You can see everything inside the McDonalds because the windows are completely see through except for some of the posters covering parts of the window. The posters on the windows are promoting the McDonalds value menu and the other one say you can win a new Xbox one. There is another poster promoting their white chocolate mocha. The McDonalds is located on a street corner and does not have an awning that extends into the street. The awning does not hold the traditional colors. The awning or storefront consists of the colors brown, black, and white. The McDonalds name is written completely in white, while it lays on a background of brown and black stripes. The brown stripes are protruding while the black stripes are lying in the background. Under this sign is another sign that sticks out in front of the main entrance. This sign is very small but has the McDonalds logo, but uses the colors red, yellow, and brown.
Hendersern and Stern 2000, ‘Untangling the origins of competitive advantage’,Strategic Management Journal, Vol. 21, pp. 1123-1145.
De Wit, B., & Meyer, R. (2010). Strategy: Process, Content, Context, An International Perspective. Cengage Learning.
The McDonald's Organization is one of the world's greatest and best chain of ground sirloin sandwich fast-food diners, serving more than 47 million consumers around the world day-to-day. Its menu consolidates burgers, chickens creation, French-fried potatoes, Produce breakfast, Sodas, coca-cola , coffee, shakes, and desserts. On account of criticism and changing buyer tastes, the association has extended its menu to fuse servings of blended greens, wraps and nature products like fruits and etc. McDonald's restaurants have been found in 119 countries, and therefore they served 68 million customers a year (McDonald’s, 2014). It lives up to expectations more than 31,000 diners around the globe, hiring more than 1.5 million people
The main purpose of this report is to analyses the alternative approaches to strategic management and identify their viability, suggested benefits, implementation issues, and limita¬tions of each approaches. The three approaches that will be discussed is Stakeholder ap¬proach, Dynamic Capabilities approach, and Sustainable approach.
Hitt, M., Ireland, and Hoskisson, R. (2009).Strategic management: Competitive and Globalization, Concepts and Cases. In M.Staudt & Stranz (Ed).
Strategic Management: Competitiveness and Globalization (Concepts and Cases) 8th Edition Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson