McDonald's

Overview

McDonald’s is the largest restaurant chain by revenue, specializing in fast-food options. What started out as a hamburger stand is now a franchised chain that operates in over 100 countries and serves millions of customers a day. 

Some of McDonald’s most popular items include its hamburgers, cheeseburgers and fries, which have been honed from the beginning of its days. McDonald’s also expanded its menu to include products like chicken nuggets, breakfast sandwiches, milkshakes, wraps, apple pie and more. More recently, due to the demand of healthier food options, it began offering salads, fish, fruit and other lighter options.

Website

https://www.mcdonalds.com/us/en-us.html

Number of employees

McDonald’s has an astounding number of employees, being named the second largest private employer (only behind Walmart) with 1.7 million employees.

Date founded

McDonald’s started out as a small restaurant run by Dick and Mac McDonald that sold only hamburgers, fries and drinks, which allowed them to focus on quickly providing high-quality food. In 1955, Ray Kroc, who had been helping Dick and Mac McDonald franchise their restaurant, founded McDonald’s System, Inc. and bought the rights to the McDonald’s name and system in 1961. The company had already sold 100 million hamburgers by 1958.

Ray Kroc grew the business by convincing franchisees that they would be able to build a business with the support of the McDonald’s system. His vision was to build a restaurant that could create uniform food in multiple locations by using the same preparation system. His franchises depended on the individual franchises, suppliers and employees all following through with the system. Many of the partnerships between McDonald’s and suppliers were originally created by Ray Kroc, showing their commitment to creating a system that could thrive.

Kroc passed away on January 14, 1984, but his legacy still lives on in McDonald’s today, where the company continues to use and improve the systems that he put in place.

Company mission statement

McDonald’s has implemented both a corporate mission statement and a corporate vision statement. Its mission statement is “to be our customers’ favorite place and way to eat and drink.” With this mission statement in mind, McDonald’s uses its customers’ preferences to determine how the company does business. The McDonald’s menu, service, locations and more combine to create a company that is focused on making its customers happy.

The company vision statement (as of 2017) is “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.” This vision statement shows that the company plans on expanding and improving its business to serve even more customers in more locations.

Industry

McDonald’s is placed in the restaurant industry, with a sub-industry of fast-food restaurant.