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Mcdonalds. For this unit I will need to produce a portfolio of work investigating the factors that have contributed to the success of my chosen business. I will need to describe the main aims and objectives of the business and the external environmental f

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Introduction

Introduction For this unit I will need to produce a portfolio of work investigating the factors that have contributed to the success of my chosen business. I will need to describe the main aims and objectives of the business and the external environmental factors which have affected the ability of the business to achieve its aims and objectives. I will also need to explain how marketing activities; enterprise skills and teams have contributed to the success of the business. I will then analyse how the following factors have contributed to the success of the businesses marketing activities, enterprise skills and teams. Finally I will have to judge how the business has achieved its main aims and objectives and evaluate the key factors that have contributed to this. History The business I am going to be investigating is McDonalds. McDonalds was the brainchild of two brothers, Mac and Dick McDonald. They dreamt of owning a small chain of moderately successful burger bars and opened their first restaurant in San Bernado, California. Until 1954, the brothers had exactly what they wanted; it was then that they met Ray Kroc. He was granted a licence to be a franchisee and opened his first store in Des Plaines near Chicago, Illinois in 1955. By 1959 he and the McDonald brothers had 100 restaurants running. In 1961 Kroc brought the rights of the McDonalds restaurants from the brothers for $2.7 million. 9 years later, he had over 1,000 restaurants in America, Canada and Puerto Rico. Kroc then made the decision to expand stores faster and further away, by 1972 he had opened an additional 1,000 restaurants worldwide. 1974 saw the opening of the 3,000th and the first in London opened in Woolwich, South East London. In 1984 Ray Kroc died and the Ronald McDonald Children's Charity was set up in his memory. Although Kroc passed away his business carried on expanding, by 1999, there were over 25,000 restaurants worldwide, and the company is still growing every year. ...read more.

Middle

Another promotional method that McDonalds used for McFlurry was to give a buy one get one free McFlurry every Fridays. This method of promotion makes customers want to buy the product as it's not very expensive either. The objective which this promotional strategy aims to achieve is meeting needs of customers and making satisfying them with the products. It also increases sales of McFlurry, for e.g. if a customer with family was buying other food products from McDonalds and they saw the offer 'buy one get one free', they would then definitely be drawn towards it. McDonalds have also used another very unusual form of promotion. They have used a new way to contact with young adult through their cell phones. As part of a promotional strategy cell phone users can send a text message code from which they will receive an electric coupon good for a free McDonalds McFlurry. Once the electric coupon has been sent back to their phone they can then simply visit their local McDonalds restaurant to purchase their McFlurry. They will be promoting the coupon by advertising on buses and billboards in California. Place- The McFlurry as well as the Big Mac is sold in all the McDonalds restaurants. The McFlurry is also made on the spot for customers; the ingredients are mainly UHT milk and sugar. As McFlurry is an ice-cream so for it to be made in some other place and then being distributed to McDonalds is not possible, it has to be made whilst the customers are waiting. An enterprise is another name given to a business. The enterprise skills are the skills that are needed in a business. The following are some of the enterprise skills that a business may need to have for it to be successful: ' Leadership Leadership skills are needed to lead a business, to make the business successful in every possible way. Leadership skills are needed in McDonalds to motivate their staff and to achieve their main aims and objectives. ...read more.

Conclusion

In the year 2006 McDonalds had to close down 25 branches as they were suffering from a poor profit. The closure was listed in McDonald's annual accounts, which showed that poor British sales were dragging down McDonalds European figures. In the accounts the firm said that the UK customers were experiencing a highly competitive informal eating out market and low consumer confidence levels. However to overcome this problem McDonalds has researched consumer behaviour and also opened new restaurants in the right location. Since then McDonalds profit has been improving. Another McDonald's objective which has been affected is to maintain a particular share of the market. McDonalds has been blamed for producing food that is unhealthy. There have been complaints made by customers that because of McDonalds they have become obese as the meals contain a lot of carbohydrate, fat and salt. In 2003 McDonalds share price divided and they made a loss of �222 million pounds. This was a very high amount especially for a franchise that has been serving customers and meeting their needs for a long time. McDonalds then decided to once again become the UK's number one restaurant. They did this by introducing healthy food such as salads, fruits, yoghurts, breakfast meals and the Delhi Veg. By introducing all these new products McDonalds has gained back their market share place. At the moment they have gained the highest amount of market share then their competitors. McDonalds has also faced some significant financial, organization and cultural challenges in recent years, this has affected their objective of increasing sales. They were some brutal facts about McDonalds which were being oppressed. The company was said to be opening and building new restaurants but not enhancing or even maintaining profitability. However to overcome this problem McDonalds senior management has decided not to set short-term targets. They will be thinking of strengthening the Mcdonalds brand rather then meeting the short-term targets. McDonalds is setting more realistic long-term growth targets. This will help them to manage their profit margin. GCE Applied- Unit 1: Investigating Businesses PAGE PAGE 1 ...read more.

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