McDonald’s is one of the best restaurant franchises in the world due to its awesome food and its affordable prices. They have been around since the 1940s and have managed to contribute many things towards the love of people and the world economy. That is why they are regarded as one of the best places to celebrate, no matter what the occasion is. They have been chosen by the people themselves, as the place to suit all of their celebratory needs. Here is McDonald’s Mission and Vision Statement.
The many important things we need to remember about the fast-food restaurants around the world is that their business is based around the image and the character they build, throughout the years. McDonald’s is one of those brands where they care about the people they serve as family and care about the different needs of their customers. That is why parties and celebrations are hosted in these restaurants around the world.
They have served the needs of their customers while also staying true to their roots by making sure the need for giving back as much as receiving is fulfilled. They have hired a lot of employees throughout the years and have made sure that they have been rewarded for the work they put in.
Concept and Strategy
McDonald’s is a company that lives and breathes authenticity and old school American fast food cuisine of Burgers, Shakes, and French Fries. It is due to the variations in these concepts is where they have made most of their profits. But their masterstroke in the world of business is purchasing real estate and making new restaurants in that property to heighten their business even more. This strategy of picking out property and erecting new restaurants is why their empire has a solid foundation.
It is also one of the reasons why their restaurants are located in more than 30+ countries. The concept for them was to erect a place where people of all ages can eat and have fun and serve fast food that tastes good and is available at a cheaper price. The concept struck gold and the strategy later became to expand around the world, which in today’s date has been a huge success. There is a Mcdonald’s in a 5-mile range everywhere we go.
We will be looking at the mission and vision statements that have made McDonald’s the most popular fast-food restaurant in the whole world. We will also be looking at some of their values so we have an idea about its employee functioning.
McDonald’s – A History
McDonald’s was founded in the 1940s with the one aim to serve quality food at a reasonable price to its customers. The popular mascot Ronald McDonald was introduced way late into the process, back in 1965. The company came up with many menu creations to please people of all ages. The Big Mac is one of the most iconic burgers in the history of the world whereas the Kids meals they introduce come with toys. The famous Golden Arches symbol appeared in a lot earlier versions of the logo but was not trademarked by the company till 1968, where the company got a US-based trademark. The typical McDonalds meals got dominated by the usual burger, fries, and drink combos and the world was never the same.
The Mcdonald’s stock price has always gone from the year 2005 and has continued to yield profits to the board of directors and the people who have taken their money and invested in the company. It has always believed in hiring employees above the age of 14 and has given students jobs to start working at an early age.
The most significant thing about this company is that their menu does not stay the same anywhere, it comes to changing from different countries according to their culture. It adopts the culture of the country and laces items in the menu that are relevant to the people of that culture. There are also many other continuations of the company such as the McCafes, Drive throughs, the “Create Your Taste” restaurants and establishments situated in gas stations, and many more.
We will now be discussing the mission that has inspired them to branch out to so many concepts in different parts of the world.
McDonald’s Mission Statement Analysis
McDonald’s has always been a company that has believed in serving the best quality of food to its customers by charging a fair price for it. It is their mission to serve food but also bring smiles on people’s faces, it cares about the customers which are why its mission statement is based around the fact that it wants to do more than just serve good food. The mission statement for the company is as follows, “to be our customers’ favorite place and way to eat and drink.” Let us analyze this statement to see what we can get from it.
There are two main elements we should be looking at regarding this statement, those are:
- Customer’s Favourite place
- Way to eat and drink
The First Element
The first element talks about the way this company has been one of the best and most frequently visited places in the last two decades or so. It is due to their loveable nature of employees and the difference in price and quality. Plus it is the most well-known and sought-after place due to the variation in menus from one location to another.
There is always something new going on with the different types of food they prepare and the service is outstanding. In this way, by offering the best price and the bang for its buck the place is keeping itself alive, by sufficing the need of the customer but also making sure that they enjoy their day and interact with people to spread happiness through food. That is why it is referred to as one of the best burger restaurants in all of the world due to its adaptability to different cultures and ethnicities.
The Second Element
The second element talks about the fact that this company has changed the way people perceive fast food and the way it caters to different people’s food tastes and wants. The traditional burger, fries, and drink combo were not created by McDonald’s but it received critical and world acclaim due to this restaurant. Being a customer’s way to eat and drink is not implied in a literal sense but it says that the traditional way, the three-pack combos that they have familiarised the world with is the way they hope their customers get accustomed to over time.
They aim to create a social norm where it becomes customary over time to have their burgers with a side of fries and drinks to get maximum satisfaction for their money.
They have evolved their ways of drinks by opening McCafes that serve coffee, milkshakes, and other beverages that go exclusively with any type of burger you desire and buy from McDonald’s. So in a way, they are affecting the taste palettes and what the customer is used to with his burgers, which is a very smart business strategy and profits the customer and the company. Thus, they have ensured that the burgers and meals are eaten the way it is intended to and most enjoyed upon.
McDonald’s Vision Statement
The vision is what every company tries to see itself towards in the future, it is what they aim to be 10 to 30 years down the line when their business has fully settled itself in a paradigm. McDonald’s has continued to successfully impress and feed millions of people through their 60+ year tenure, and they have done that by relying on their product and also following their vision. The vision statement for McDonald’s is as follows, “to move with velocity to drive profitable growth and become an even better McDonald’s serving more customers delicious food each day around the world.”
There are two main elements concerning the stakeholders of the company and the consumers that we will be analyzing. Those are:-
- Move with Velocity to drive profitable growth
- Become better by serving customers delicious food around the world
The First Element
The first element of the vision statement talks about how the company has always made exceptions and also some provisions to secure their financial winning in the market for the investors. Speaking of, during the start of the year 2006, the stock price for McDonald’s was around 30 dollars but in recent years, it has been above 100 dollars per share. In this way, the company has shown that it still has room for growth despite being in almost every country in the world.
Everyone knows their name, and due to their daily economic success, the investors of the company are always made happy due to the various increase in dividends and profits yielded by the sale of burgers and daily activities. The aim of the company is not only to derive growth but also do it in a way that is fast and critical for the people who invest their money and want returns out of it. It not only wants to be a reliable restaurant but also a great investment for the stakeholders and stock market investors.
The Second Element
One of the many important things to remember about this company is that the majority of its profitable earnings is obtained from the sales of its food items and party services around the world. It has become such a custom for people to dine in these restaurants that it’s almost a habit for them to visit the store once a week or maybe more with their friends and family. They also save up their money and plan it on occasions like birthdays, which is planned and provided by the company as well.
And the most important thing about any party is food, that is why this company aims for the best quality and variation of food around the world. We discussed earlier that the company likes to change its menus depending on the culture and ethnicity, this is where the problem of expansion is solved, and this way McDonald’s blends perfectly with other parts of the world and with people who are interested in the same cuisine.
The value statement of the company is as follows, “We place the customer experience at the core of all we do, we are committed to our people, we believe in the McDonald’s system, we operate our business ethically, we give back to our communities, we grow our business profitably, and we strive continually to improve.”
We can derive 4 things from this value statement:
- Ethical Operation – Ethical operations are the ways to do business without offending the natural and respected ways of traditional business and also not taking part in any underhanded market and sales tactics. This is a very important point as tactics like these are used by a lot of businesses to demote others and promote their brand image.
- Giving Back – Giving back means donating to people and giving the people, customers, stockholders, and many more a share of the earned profit, by organizing charities, and many other things to give a share of the success received towards the betterment of the community. It also means doing as much as they can towards the betterment of society and the people around them.
- Profitable Growth – It is the main aim of any business to generate profit, that is why this company aims at producing the best business venture and selling the products of that venture throughout the world to make sure the company grows at a steady and profitable pace. By doing so, it generates a steady income for the employers, employees, and shareholders.
- Striving to Improve – Striving to improve means continuously engaging in activities that better the company but also improving upon existing policies, menu items, prices, and anything that contributes towards making the lives of people easier. In this way, McDonald’s ensures that they improve while the people get the service they deserve.