The reporter casts light upon the fact that Globalization has impacted various industries throughout the world in a number of ways. Moreover, the fast-food industry has over the years also felt an impact of globalization…
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The US-based retail store, McDonald’s has made its entrance in the foreign markets for expanding its market in fast food globally. It has 30,000 restaurants in at least 119 countries with a serving capacity to near about 50 million on a daily basis. It has been leading in the global market with its renowned and valuable brand. They focus on high-quality customer service in order to earn trust from their stakeholders (Centre for Responsible Business, 2005).
Fast food has a great demand in the global world. It has a great influence on our lifestyle and culture. According to ‘US Fast Food Market Outlook 2010’, the trend of fast food is growing; as a result, it leads to the development of overall restaurant industry. The US fast food industry is growing dynamically despite being struck by the economic turmoil. Fast food has a detrimental effect on the health of the people especially children and the younger generation. (PRLog, 2009).
Obesity is growing globally and is causing health problems among every generation. It has been observed that the percentage of obesity is rising among the young children and as a result, it brings risk to their health. In this present world, fast food is growing rapidly for its cheap price level and easy availability. But they contain the high percentage of salt, fats or sugars. When it becomes a part of a daily lifestyle, then it certainly increases the chance of obesity (Currie & Et. Al., 2009).
People suffering from overweight along with obesity have increased considerably in the United States. Obesity has nowadays turned out to be a disease of epidemic proportions. Due to the fact that maximum people are obese, it can be estimated that in the United States 1 out of 3 people is obese. Excessive fast-food accessibility results in obesity and overweight. According to the Center for Disease Control (CDC), approximately 64% of the U.S adults and 15% of children and youngsters are overweight.
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Introduction Australian fast food industry has revamped in last five years because consumers are shifting their preference from calorie rich fast foods such as hamburger, fries to healthy fast foods. Australian people are becoming aware of the health hazards of fast foods and for this reason they are avoiding calorie rich fast foods in order to avoid health problems like diabetes, cardiac problem and others.
It comprises of strengths, weaknesses, opportunities and threats – both internal and external to the corporation. SWOT analysis gives a bird eye view of industry, market and company’s competitors. It helps organizations in formulating a market strategy, which will in long run be beneficial for the respective company (Bohm, 2009).
This paper presents a brief report on the management strategy of McDonald’s and gives detailed analysis of both the internal as well as external environments. In order to analyze the business environments, various business analysis tools such as SWOT, PESTEL, Porter’s Five Force analysis etc will be included in the paper.
According to the report the present technology evolution has also been documented as a factor behind the industry’s growth. The increase in development of these industries has different effects on the economy of U.S, an effect that affects the other countries. The following research will cover the impact of the U.S fast food industry on the global economy.
Fast foods cost relatively little and taste good. This is not reason enough to overlook its negative effects on the physical health of an individual consumer. Consumer develops health problems stemming from obesity and overweight thereby limiting severely their lifestyles, as well as shortening their life spans.
Fast food is not only an epithet of American modern life, but it also has its origin in the verdure of American way of pursuing life in all dimensions' .It scintillated on the world map in 1954 followed by take out food in 1962.
Apart from the American influence involved in its makeup, fast food has European originality .John Stow's 1958 survey of London exhibits fast food as items and so does Henry Mayhew in his book called Social History of London in the 1840s and 1850s portray it as items on sale.
Aside from food sovereignty, this paper generates a fundamental challenge in the field of business ethics and practice for generating tangible and concrete policies, implementing guidelines and methodologies that other business establishments should enact, follow and execute. Society needs to be alarmed at this inevitable scenario due to their significant global impact, particularly in the environmental and social implications.
The author states that the fast food industry, like any other industry, also experiences the economic ups and downs. In addition, they provide products and services that many other businesses depend on. Various business trends such as social and financial markets significantly affect the economic status of fast food market.
The top 10 fast food companies enjoy enormous economic clout and they have been able to change eating patterns of the people across most part of the US. These companies generate huge demand for cheap farm and dairy products taking support of massive government subsidies given to crops such as soy and corn.
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