Functions of Planning in a Company - Assignment Example

McDonald’s is recognized all over the world for its utmost focus on ensuring product differentiation and quality. The company has been able to create a sustainable competitive position for itself over its competitors. It has been able to take various strategic endeavors with the incorporation of certain imperative planned initiatives that have been quite diversified and efficient. It largely believes in following efficient leadership traits that are inculcated by Don Thompson who is the Chief Executive Officer (CEO) and the President of the particular food chain. He has been leading the chain for the past 23 years and has been continuously working to gain strategic excellence and also working in a planned process to create a wide reach. The entire company with the leadership of Mr. Thompson believes in planned and collaborative activities that have made McDonald’s very successful. Moreover, the company believes in the concept of competitor analysis along with evaluating its strengths, weaknesses, opportunities, and threats before going for any new venture. The chain has a total of 34,000 restaurants worldwide that serve millions of customers daily. This amount of success has only been possible because of the long years of functional planning process that the company has followed (McDonald. Com., 2013).

There was a famous controversy that started when the chain introduced beef in its products and because of this aspect, it raised a lot of questions from people belonging to various racial backgrounds, especially India. Judging by the consequences, the chain showcased a great deal of flexibility in its planning processes and introduced lamb meat instead of beef in its products. This stance proved to be very beneficial for the chain (McDonald. Com., 2013).

Vision, Goals, Objectives
Being one of the leading restaurant chains in the world, McDonald’s largely believes in upholding a strong vision, long-term goals, and broad objectives.
The broad values of the company include:
• Generating a positive level of experience for the customers
• Commitment to the people/customers
• Moving in parlance with the McDonald’s system
• Ethical business operations
• Responsibility and service to the communities
• Profitability of the business
• Strive to improve continuously
The goals and objectives of the company are to ensure the accomplishment of the vision which is of primary importance for the company. It largely focuses on its values and its objectives and goals reflect these values to a very large extent as these values serve all those purposes that are required for a business to be competent and successful (McDonald. Com., 2013).

Brief Analysis
Concerning the analysis, it has been realized that McDonald's has created a distinct level of competitive advantage for itself. A thorough SWOT analysis has revealed the following reports:
Strengths:
• Largest market share in fast food division in the world
• High brand recognition
• Customized menus
• Strong partnerships with assorted brands
• High advertisement budget
Weaknesses:
• Certain unhealthy food menu
• Low amount of differentiation in the food category

Opportunities:
• Increased amount of need for healthier food
• New customer groups and their alterations in tastes and preferences
• Home meal delivery concept
Threats:
• Already saturated
• Controversies against the chain
• Emerging trends towards healthy eating habits
• Emerging competitors
From the above analysis, it is found that the company has a lot of prudent strategic directives that determine its dominant position in the market. However, it will also have to work on better marketing and operational strategies in the future (McDonald. Com., 2013).

Selected Strategies
McDonald’s is known to adapt various strategies to create a wide reach along with ensuring customer satisfaction to a greater degree. It strongly believes in the concept of following effective advertisement strategies for creating all-round awareness about the brand, its products, and all the different variances in the products that the chain introduces. Moreover, the chain widely utilizes promotional and marketing strategies through its flagship cartoon character i.e. Ronald McDonald in various public places including malls, supermarkets, and multiplexes among others (McDonald. Com., 2013).

Conclusion
From the above analysis, it has been realized that McDonald’s is arguably the best restaurant chain in the fast food division. Read More