McDonald’s SMART company
Mission Statement
“To be the leading global fast food outlet through the introduction of a new line of food and beverage products.”
McDonald’s company has always been striving to be the most favorite eating and drinking outlet in the USA and growing considerably to extend to the global markets. (Abiodun, 2010). In our mission, we must ensure that we match the competition through diversification of our range of products
Vision Statement
“To grow at a much higher rate through the increment of the company profit margin through much-accelerated globalization and product diversification.”
In our vision, we must understand that competition is increasing, which calls for a much quicker and aggressive global market invasion (Abiodun, 2010). McDonald’s company must be at the top of the game and colonize the market before all the other companies do so. Globalization is the future of the fast-food industry, and we cannot be left out.
McDonald’s SMART Goals
- Specific strategy.
- Introduction of global foods such as African and Chinese dishes on our menu. Globalization calls for accommodation of the cultures from different global regions. New food types of African, Asian, and European origin must be accepted in our organization to attract customers from these regions.
- Introduction of online food and beverage ordering and delivery systems to our customers. Availing our products at the doorstep of our customers upon ordering should be in our plan. Online marketing is taking over the sales industry. This will minimize our restaurant outlets but increase our online sales.
iii. Creating value for each dollar our customers spend. Making every customer appreciate the product they get from their expenditure is vital. To do this, everyone in the McDonald’s company must work towards quality assurance.
- Empowering our employees to win their loyalty. For McDonald’s company to continue shining, even more, we must not only look at the customers’ side but also the employees. Happy employees would mean better company performance and profit margins. We must do this through fair compensation for their services and provide a favorable working environment.
- Measurability.
We must find out how McDonald’s will perform upon the implementation of these goals. Inclusivity of global foods, online food ordering and delivery, and creating value for each dollar a customer uses will expand our market pool. Increasing our market would mean company growth and increased profit margin. Employees’ empowerment would also lead to a smooth company running and loyalty to the organization resulting in growth as well (Han, 2008). These together would see McDonald’s a company realize its mission and vision.
- Achievability.
Goals are not in themselves enough, but we must ensure that they are achievable. Our goals are aimed at increasing our market. The company has been expanding its market since its establishment in 1955 in California (Gilbert, 2008). Global demand for fresh organic foods has been increasing, and taking advantage of it would be a very prudent step to take (Li, 2007). These goals are all achievable, bearing that there is demand, and the company is in a position to execute these goals.
- Realistic
In our goals, we are just planning on introducing new African and Asian dishes to expand our region of operation. This does not involve any substantial unrealistic change in the functioning of McDonald’s company. The expansion is within the company’s capability to mobilize its resources (Han, 2008) and implement the goals.
- Time-Bound
The process of introducing new African and Asian dishes to expand our market is not complicated, and within six months, this would be achievable. Within three years we will have increased our company size and region of operation.
Fast food Industry analysis
The food industry has got a very stiff competition not only in the USA but also in other countries (Royle, 2002). In the USA, McDonald’s is the leading fast food outlet facing stiff competition from various companies such as KFC, Burger King, and Domino’s, among others (Min, 2011). With this stiff local competition, diversification of the region of operation through the introduction of new African and Asian foods is essential to match the high competition.
SWOTT ANALYSIS
- Strengths – McDonald’s has had the advantage of rolling out a wide range of products such as smoothies, coffee, etc. (Krull, 2018). Further introduction of American and Asian foods is a strength on the side of our company.
- Weaknesses – With time, it has become more and more challenging to find new locations to build outlets in the country. Introducing new dishes would call for more space, which is not available.
- Opportunities – There are global opportunities for McDonald’s company to take advantage of upon introduction of these new dishes and expansion of the region of operation.
- Threats – There have been more and more government regulations on fast foods locally and internationally, which makes fast food business operation more difficult (Kraak, 2006). Expansion of the operation region would pose a more significant threat of more and more regulations making business operation more difficult.
- Trends – The trend in fast food has been online sales and delivery to improve the convenience of their service (Hearst, 2013). The globalization of the industry has also taken control, and McDonald’s should not be left out.
Perpetual map
For McDonald’s company to shine in the fast-food industry, the introduction of online marketing is inevitable. This company should also consider introducing new African and Asian dishes. This criterion is critical as it’s the future of carrying out business operations in the fast-food industry, and that is why I picked it as the best criterion for McDonald’s to achieve its goals.