29 Jun How McDonald’s Is Effectively Executing Its Turnaround
Question
“How McDonald’s Is Effectively Executing Its Turnaround Strategy?”http://www.forbes.com/sites/greatspeculations/2016/05/03/how-mcdonalds-is-effectively-executing-its-turnaround-strategy/#50105d8f2d91
McDonald’s Mission Statement
McDonald’s mission statement is officially stated as follows: “Our mission is to be our customers’ favorite 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.”
In its mission statement, McDonald’s includes details about its market position, as shown in the “favorite place and way to eat & drink” component. Also, the human resource management approach is highlighted in the “great place for our people to work” component. In addition, McDonald’s mission statement covers its corporate social responsibility position in the “positive presence in your community” part. The rest of the mission statement indicates McDonald’s brand image and the character of its products. A strategic objective based on this mission statement is global brand development to strengthen the company’s ability to attract customers and investors. A related financial objective based on McDonald’s mission statement is cost minimization to optimize value.
Question:
Find a recent news article about an organization that changed its marketing strategy. What were the reasons for the change? How did the organization approach the development and implementation of the new strategy?
One of the best sources for shared goals and values to guide implementation is the firm’s own mission or values statement. Find the mission or values statement for the organization you identified: do you see evidence of the mission or values in the way the organization handled its change in marketing strategy? Explain.
450 – 500 words minimum for each Topic. Two (2) references are required beyond the text book. Be sure to cite and source in APA format.
Topic 2
If you were personally responsible for implementing a particular marketing strategy, which implementation approach would you be most comfortable using, given your personality and personal preferences? Why? Would your chosen approach be universally applicable to any given situation? If not, what would cause you to change or adapt your approach? Remember, adapting your basic approach means stepping out of your personal comfort zone to match the situation at hand.
450 – 500 words minimum for each Topic. Two (2) references are required beyond the text book. Be sure to cite and source in APA format.
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