In: Accounting
What are the business strategies for the internal and external factors on mcdonald corporatio.
Internal Factors
Finance/Accounting, Production & Operations, Research & Development, Computer Information System
External Factors
Political, Economic, Sociosultural, Technology.Environmental,Legal
Business strategies for the internal and external factors on mcdonald corporatio | ||
Business strategies for the internal factors | Factor | Business strategies |
Finance/Accounting | Implement Centralised accounting centre | |
Appoint experienced Manager and ensure
compliance with tax laws and make sure the company has sufficient cash flow and appropriate finance in place in order to meet business needs. |
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analyse past financial performance in
order to project and improve future results and aid commercial decision-making |
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Implement automation of Payroll | ||
Production & Operations | Design of Goods and Services based on the most popular consumer expectations | |
Quality Management so, Consistency satisfies consumers’ expectations | ||
Process and Capacity Design so, the production line method maximizes efficiency and capacity utilization. | ||
Location Strategy, Traditional or online | ||
Research & Development | McDonalds works alongside their suppliers and customers so that they can be aware of what are necessary developments in order to set new quality standards. | |
Computer Information System | All McDonalds food products are cooked with machines. Computers are highly emphasised within McDonalds. This is because they rely on a system called ABCOM which looks after the stock take and cash flow; it basically monitors all of the money flow throughout the individual store. It also calculates the sales based on the average purposes. | |
Business strategies for the external factors | ||
Political | Increasing international trade agreements, Governmental guidelines for diet and health, Evolving public health policies | |
McDonald’s Corporation has the opportunity to expand its multinational business based on improved international trade, which can enhance global supply chains as well threat also because health | ||
Economic | Analyse Major contribution location to total Revenue of Company | |
Identify best product based upon location | ||
Sociosultural | Analyse consumer buying pettern | |
Adopt law of location | ||
Create healthfulness of menu items | ||
Technology | Invest in Reaserch and Development | |
implement new technology | ||
Support business Automation like using mobile and all other devices | ||
Environmental | it can improve its environmental programs and sustainability to strengthen its brand and business performance. | |
further diversify its supply chain to address the effects of changes in climate conditions | ||
Legal | To abide Health regulation | |
To pay as per industry norm. | ||
forcast Tax liability . |