McDonald's "Plan To Win" Strategy: The Payoffs
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Code : COM0068
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Region : Global
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Introduction:McDonald's, the world's biggest fast food company, had shown robust performance over the years but began to face problems from the year 2001. Though its sales were increasing, there was continuous decline in its operating and net profitmargins. To counter this problem, the management of McDonald's adopted a strategy called 'Plan To Win' in January 2003. The main purpose of the strategy was to bring about improvement in the company's performance by building it around five key drivers of customer experience – People, Product, Price, Place and Promotion – and by identifying opportunities on the basis of the four basic aspects of its mission statement – Quality, Service, Cleanliness and Value. The strategy was also based on what McDonald's considered as three essential components of success – Operational Excellence, Leadership Marketing and Innovation. Although things started improving after adopting the new strategy there were still many challenges that the company had to face in the future. |
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