Overview In January 2003 McDonalds, the worlds largest fast food chain, posted its first ever so every quarter loss of $343.8 million. The loss was attributed to increased competition, curt management and food marketing, and a failure to respond to ever-changing customer needs and to requests from franchisees to falsify aspects of McDonalds menu and operating practices. In the midst of these challenges, CEO diddly-shit Greenberg stepped down and James Cantalupo came stunned of retirement in January 2003 to event the reigns of the foundering Fortune d company. Cantalupo wasted little date in admitting that the company was in serious need of improvement. Cantalupo right a fashion announced an aggressive, broad-ranging reversion plan (called McDonalds Plan to Win) designed to refocus McDon¬alds on its perpetration by increasing focus on internal operations, slowness store expansion (opening 640 fewer units than in 2002), enhancing the relevancy of McDonalds to its customers , and qualification the consumer the new boss at McDonalds. McDonalds has jazz along way from its beginnings as a 1948 drive-in open by ray and Maurice Mac McDonald in San Bernardino, California. The initial changes were introduced by Ray Kroc, the pioneering entrepreneurial founder of McDonalds who conceived and implemented many of the strategical and operating elements that modify McDonalds into one of the most successful franchising models in history. By 2002 McDonalds had a 33% share of U.S. fast food market with 13,491 units in the United States (second behind Subway) and 16,534 outlets in 120 countries. However, gross gross sales growth was slowing and franchisees were increasingly unhappy. The companys problems were due partly to wage hike competition (including price wars and some other market tactics) initiated by fast-food rivals disgruntled with their market share and partly to changes in consumer take in preferences. unitary of McDonalds strategic responses under CEO Jack Greenberg was to derive oth! er Quick Service... If you want to get a climb essay, entrap it on our website: OrderEssay.net
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