McDonalds Restaurants Corporation is an American restaurant chain that specializes in fast food including French fries, Hamburgers, Sandwiches, Coffee, Soft drinks, Desserts, and Milkshakes among others (Jehanzeb, Hamid, & Rasheed, 2015). Roy Croc founded the company in 1955 when he opened the first restaurant in Des Plaines, US. The Food Chain has experienced great success and is currently the largest fast food vending chain in America, followed by Burger King, with over 32,000 stores worldwide. It has its presence in approximately 119 countries worldwide and serves more than 50 million customers daily (Lewis & Heckman, 2006).
McDonalds Restaurants have achieved and maintained success in the both locally and in the international markets employing business-level and corporate-level policies that pay attention to their customers and observe their different cultures. The company also has well defined business strategies that it follows strictly so as to ensure success.
McDonald’s Inc.’s mission and vision statements act as guidelines for the corporation’s leadership. McDonald’s Corporation observes its mission statement so as to design and advance its products. McDonald’s also observes its vision statement to ensure it maintains its position in the market. McDonald’s success is a clear sign that the business is effective in achieving the objectives outlined by its mission and vision statements.
McDonald’s Vision Statement
The incorporation’s vision statement is: “For McDonald’s to become a modern, progressive burger company delivering a contemporary customer experience”. Modern is about getting the brand to where we need to be today and progressive is about doing what it takes to be the McDonald’s our customers will expect tomorrow. To realize this commitment, we are focused on our customers and what matters most to them – hot and fresh food, fast and friendly service, and a contemporary restaurant experience at the value of McDonald’s.” (Mahajan, 2014).
This vision statement encloses a range of business aspects. In it, McDonalds Company suggests innovation to fulfil current market wants, as specified in the “contemporary customer experience” element of the statement. Similarly, McDonald’s symbolizes its products as what matters to the customer. In axiom “modern, progressive” McDonald’s demonstrates that the vision statement describes the form of business approach employed by the organization for development purposes. Strategic objectives that are carefully linked to the company’s vision statement is McDonalds’ product innovation to match customer predilections and anticipations (Mahajan, 2014).
McDonald’s Mission Statement
McDonald’s Inc.’s mission statement is outlined as follows: “Our mission is to be our customers’ favourite place and way to eat & drink. We’re dedicated to being a great place for our people to work; to being a strong, positive presence in your community; and to delivering the quality, service, cleanliness and value our customers have come to expect from the Golden Arches – a symbol that’s trusted around the world.” (Mahajan, 2014.)
In the above mission statement, McDonald’s Inc. shares information relating to their market position, where they describe McDonald’s as the “favourite place and way to eat & drink”. Moreover, the company’s human resource management methodology is highlighted where the statement refers to the company as a “great place for our people to work”. McDonald’s mission statement discusses the company’s corporate social responsibility standing under the “positive presence in your community” part of the statement. The remaining part of the mission statement point out McDonald’s brand image as well as its product character. Global brand development is the strategic objective that is based on the above discussed mission statement. This strengthens the company’s capacity to attract stakeholders including customers and investors. Lastly, the statement points towards cost minimization in the company’s efforts to optimize value, this can be seen as a related financial objective.
McDonald’s Strategic Objectives
An aim is a comprehensive statement which expresses what an organization goals to grow into while the company’s objectives are its specific targets and the activities that need to be carried out before the company can reach the fulfilment of those organizational goals. McDonald’s understands that it is imperative that an organization sets practically possible and measurable goals. By so doing, the company ensures that it does not invest its efforts and resources in trying to realize unachievable goals. For effective operation and success of the organization, these goals and objectives must be divided into time-associated projects to avoid confusion within the organization (Williams-Lee, 2008). Having measurable objectives ensures that the company can easily measure its progress to determine whether or not it is achieving the desired results.
McDonald’s global success is heavily dependent on the company’s objectives, which are stated on its corporate website. The topmost objective involves making its customers a top priority at all times (TÎRTAN, 2011). In accordance with the McDonald’s corporate values, the company focuses more on providing high quality products and services that meet the needs of its customers over making sales. This value is watered by the view that the customer is the main reason for the company’s existence in the first place and without customers, the company would have no on-going concern.
The second strategic objective is the company’s commitment to its employees. McDonald’s believes that a company’s employees can either make or hinder the achievement of the organization’s goals. Employees are the company’s valuable assets since their skills and competence makes it possible for the company to realize their set goals.