Corporate Performace Coursework Example | Topics and Well Written Essays - 7500 words

Corporate Performace - Coursework Example McDonald's Corporation was also analyzed under the lens of SWOT Analysis, BCG Matrix and Porter's Competitive Forces. These techniques help us assess the various policies and strategies that the business is following. Furthermore, they are also a snap-shot of business as a whole and tell us at a glance, whether the business is doing well or not In the end, the current performance of McDonald's Corporation is compared with its past performance and its future prospects are discussed in great detail. The future prospects are based on the strategies that McDonald's Corporation is planning to implement. The report ends with some suggestions that McDonald's Corporation could adopt to help them further improve their condition and could help them reach new heights. McDonald is perhaps the most successful corporation of the world. There's no magic formula to it, but the company believes that its success has come due to their insistence on their values and because of their belief in truthfulness and honesty. "At McDonald's, success has always involved a not-so-profound formula involving one-part inspiration and four-parts perspiration. Our founder, Ray Kroc, coined the phrase "grinding it out" to characterize the determination and attention to detail that is required to be successful in our industry. "Grinding it out" was his way of saying the restaurant business is, and always will be, a labor intensive operation. It was hard work and determination that built McDonald's - and today, those same qualities drive our success." (McDonald's Corporation Annual Report, 2008). The above statement clearly indicates that hardwork and determination is the most followed principle in this corporation. They also believe in their past values and think their success has come about due to the value given to the organization by their founding father Ray Kroc. McDonald's Corporation gives a lot of importance to their customer choice. It has recently added new product in line with what customers want. These additions have become instant hit, which is not only good for the business, but has also given increased weight to the McDonald's menu and increased the choice as they now offer variety of products. "Whether you prefer beef or chicken, salads or sandwiches, breakfast or desserts, there's something for every appetite and occasion at McDonald's. In every country, our menus balance classic favorites with new tastes and local flavors. We're also a beverage destination with offerings such as sweet tea, juices and McCaf coffees." (McDonald's Corporation Annual Report, 2007). According to Richard L. Daft, in order assess the success of an organization, you do not look at only the financial figures of the company, but you also