MCDONALD BALANCED SCORECARD

MCDONALD BALANCED SCORECARD - Accounting for Management FMA...

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Accounting for Management FMA 235 Diploma in Commerce Students’ Names: Chin Yee Shing (13DM245) Hee Zan Mei (13DM242) Tong Ket Fung (13DM252) Scott Rick Robert Sledzinski (13DM248) Lecturer’s Name: Mr Raymond Lai Due Date 10 th July 2014
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McDonald’s Balanced Scorecard The first McDonald’s store opens in 1948 in San Bernardino, California. The brand vision of McDonald is to be our customers' favorite place and way to eat. McDonald’s brand promise is to provide “Simple Easy Enjoyment” to every customer at every visit. McDonald's mission is to be our customers' favorite place and way to eat and with inspired people who delight each customer with unmatched quality, service, cleanliness and value every time. Since the beginning, McDonald has to work hard to change their market all the time and became of the top food restaurant in the world. Their performance is always high because of their adaptation to the market. McDonald keeps on improving their vision to be the best. By improving their scorecard they focused on the customers and employees satisfaction, internal business operations and eventually it financial. Fast-food industry have many competitor, they have a hard time to differentiate themself from their competitors. This is likely McDonald’s biggest challenge in its industry strategy. Competing with other fast foods industry it is making them a challenge to earn profit from these competitors such as Taco Bell, KFC, Wendy’s and Burger King. KFC, Taco Bell and Subway don’t have the same product to compete with them but their cost reduction is a competition to them. The other factor is health consciousness. Nowadays customers like to choose healthy meal or choices like salads and sub sandwiches at Subways. They tried to have a healthier menu in their menu items and decrease Ham burger that promoting an unhealthy lifestyle of obesity. The effort of increasing the differentiation and innovation, McDonald’s had already introduced the new McCafe, selling premium coffee drinks at competitive prices, comparable to the coffee chain such as Starbucks. The McCafe of McDonald’s sets up a new product and the existing customers will experience a whole new different products and it will separate them from their competitors.
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McDonald’s uses a lot of suppliers all around the global to provide products to all of their restaurants. Golden State Foods, Simplot and coffee growers from all around the globe including Indonesia and Latin America is McDonald's suppliers. McDonald's restaurants use similar product from the same vendor. The Big Mac in Beijing and Rochester has the same taste.
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