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Mc donalds and Big mac index. McDonald's Founded in 1955, McDonald?s built
its success less on the taste of its food than on rock ...
Submitted by ravikrishnan on March 10, 2008
Category: Business
Words: 3927 | Pages: 16
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McDonald's
Founded in 1955, McDonald’s built its success less on the taste of its food than on rock-solid standards and unfailingly good service (instilled during rigorous employee training). A web of alliances with other top brands and an energetic defence of its trademark cemented its position as the world’s biggest fast-food retailer.
With restaurants in over 100 countries, McDonald’s is also a symbol of American-led globalisation. Burger-bashers complain that the chain destroys local traditions and promotes unhealthy eating. In response, McDonald's has adapted to local tastes. And the proverbial billions seem to like its food, even in France.
At least, until recently. Bad management and the rise of “fast casual” restaurants saw the company announce a loss and an unconvincing new strategy in January 2003. McDonald's has since staged a remarkable comeback, now led, in Europe, by a Frenchman.
How a Frenchman is reviving McDonald's in Europe
WHEN Denis Hennequin took over as the European boss of McDonald's in January 2004, the world's biggest restaurant chain was showing signs of recovery in America and Australia, but sales in Europe were sluggish or declining. One exception was France, where Mr Hennequin had done a sterling job as head of the group's French subsidiary to sell more Big Macs to his compatriots. His task was to replicate this success in all 41 of the European countries where anti-globalisers' favourite enemy operates.
So far Mr Hennequin is doing well. Last year European sales increased by 5.8% and the number of customers by 3.4%, the best annual results in nearly 15 years. Europe accounted for 36% of the group's profits and for 28% of its sales. December was an especially good month as customers took to seasonal menu offerings in France and Britain, and to a promotion in Germany based on the game of Monopoly.
Mr. Hennequin's recipe for...
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