McDonalds

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. This shows us that McDonald's practices an analyzer type of strategy, introducing new items and defending its existing ones. McDONALD'S MISSION AND VISION: "We serve people with good quality food, fast and at low cost." 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.