Mcdonald's Executive Summary
0. Executive summary
McDonald's is the world's largest chain of fast food restaurants, serving around 68 million customers daily in 119 countries across more than 36,000 outlets. Founded in the United States in 1940, A McDonald's restaurant is operated by a franchisee, an affiliate, or the corporation itself. It is the world's second largest private employer with 1.9 million employees, 1.5 million of whom work for franchises, recently the company expanded its menu to include salads, fish, wraps, smoothies, fruit, and seasoned fries.
McDonald’s delivered strong performance and returns to shareholders in 2007. We have continued to build on our success as a trusted global consumer brand and grow our business by creating outstanding
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As a company, we strive to set the standard for ethics, professionalism, competence, and innovation.
c) Strategies; McDonald’s strategy is cost leadership. This strategy involves minimizing costs to offer products at low prices. As a low-cost provider, McDonald’s offers products that are cheaper compared to competitors. However, the company also uses broad differentiation as secondary strategy. This involves developing the business and its products to make them distinct from competitors. For example, through McCafé products, McDonald’s applies the broad differentiation strategy.
McDonald’s commits to these values to guide their decisions and behaviors:
• Teamwork promote and support a diverse, yet unified, team. Hire experienced, qualified people who work together to meet our common goals.
• Respect honor the rights and beliefs of our fellow associates, our customers, our shareowners, our manufacturers and our community. Treat others with the highest degree of dignity, equality and trust.
• Accountability accept our individual and team responsibilities and meet our commitments. Take responsibility for our performance in all of our decisions and
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Pay taxes. Do business locally, and are philanthropic. Committed to Total Quality Management, Vision, and Strategic Planning.
d) The current mission, objectives, strategies, and policies reflect the corporation’s international relations. This is evident because the McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants.
2. Corporate governance
A. Board of directors As of November 2014, the Board of directors had the following members:
• Andrew J. McKenna, Chairman
• Susan E. Arnold, Operating Executive, Global Consumer & Retail Group of The Carlyle Group
• Robert A. Eckert, Operating Partner of Friedman Fleischer & Lowe
• Enrique Hernandez, Jr., President and CEO of Inter-Con Security
• Jeanne P. Jackson, President, Product and Merchandising for Nike, Inc.
• Richard H. Lenny, Operating Partner of Friedman Fleischer & Lowe
• Walter E. Massey, President of the School of the Art Institute of Chicago
• Cary D. McMillan, CEO of True Partners Consulting LLC
• Sheila A. Penrose, Non-executive Chairman of Jones Lang LaSalle
• John W. Rogers, Jr, Chairman and CEO of Ariel
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