Group Presentations and Evaluations

Group Presentations and Evaluations

Biography

Raymond Kroc, born in 1902, in Oak Park, was the pioneer of the fast-food industry across the globe. His enthusiasm and high morale in the job industry propelled his success story throughout his life. Kroc got into the job industry while he was 15 years of age. He lied to the Red Cross of his generation to get employed as an ambulance driver, where he took up training. However, Kroc did not manage to get hired as the war ended while he was still in practice. During the training, he met with the legendary entrepreneur Walt Disney who helped instilled entrepreneurship skills in him. Once his practice was halted, Kroc enrolled for various work positions, which include real estate’s salesperson, pianist, Lil-tulip company, and paper -cup salesperson. In his line of work, Kroc met with Mc Donald’s founders, Richard and Maurice, who had earlier on purchased his mixers that would simultaneously mix up to five milkshakes at ago.

Kroc got inspired by the restaurant work culture on the preparation of fast foods such as burgers, milkshakes, and French fries. As a result, he opted to adopt to Mc Donald’s idea of coming up with a drive-in restaurant based on their beliefs. In exchange, he offered to pay a franchise fee, which would for based on the restaurant’s gross receipts. In 1955, Kroc established his own Mc Donald’s franchise in Illinois. He further continued to expand on his business by selling his franchise on the condition that the managers enrolled in a training program and that the restaurants had their managers. As of 1961, Kroc bought out the Mc Donald brothers for $ 2.7 million. He had established more than 200 franchise restaurants, and his annual sales were at $37 million. His leadership skills, resilience, and hardworking attitude enabled him to positively influence growth the other Mc Donald’s restaurants. He served as president from 1955-1968 and later became the senior chairman board until his death in 1984..

Lessons Learnt

Ray Kroc’s success story on his business establishment is based on passion and enthusiasm in his line of work. From the moment he interacted with the Mc Donald’s brothers, he developed a passion for venturing to the hospitality industry, which he did not relent. Years later, his sales outgrew those of the founders and were able to buy them out, becoming the owner of the franchise.

Further, success is aligned with having a vivid business plan and working towards it. Kroc could see opportunities and convert them into sales. He did not relent on his ability even when he did not have the financial capabilities to start big. Therefore, it is essential that when one identifies an opportunity, they evaluate it and take into action. Also, business is all about taking calculated risks and make something positive out of it. Through the sale of the milkshake mixers, Kroc grew to be one of the most successful business persons in American history. His resilience in his industry and dedication propelled. Integrity in any busies setting is fundamental to ensure its success. It also applies to integrity in the financial department, customer service, human resources, among other sectors of the organization. Kroc was consistent in his operation, which led to his success in establishing McDonald’s to even a point that his outlets outdid that of the Mc Donald’s brothers that were the founde