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Strategies for Going Global

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Added on  2021-04-24

Strategies for Going Global

   Added on 2021-04-24

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1Runnning head: STRATEGIES FOR GOING GLOBALSTRATEGIES FOR GOING GLOBAL(Case Study: McDonald’s Corporation)Student NameInstitution Name
Strategies for Going Global_1
2STRATEGIES FOR GOING GLOBALABSTRACTThis paper evaluates the strategies multinational corporations apply when going global. The strategies will be analyzed in terms of their development, formulation and implementation. This paper will consider McDonald’s Corporation as the case study for a corporation that went global. The research will investigate McDonalds’ strategies and examine their success rate as well as provide alternative strategies that would be applicable.
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3STRATEGIES FOR GOING GLOBALINTRODUCTIONMcDonald’s Corporation operates and manages the McDonald’s restaurants and associated brands across the world. It started as a restaurant in 1940, operated and managed byMcDonald brothers, Richard and Maurice, inSan Bernardino located in the state of California,U.S.A [CITATION Ran14 \l 2057 ].McDonald’s Corporation was first founded in 1955 as McDonald’s System, Inc. by Ray Kroc, when he joined the McDonald brothers. Later in 1961, Ray Kroc bought the McDonald’sname and operating system exclusive rights after purchasing the equity owned by the McDonald brothers, Richard and Maurice McDonald [ CITATION Joh95 \l 2057 ]. In December 1964 the business was turned to McDonald’s Corporation.The corporation has had several brands under it since its incorporation in 1964. The brands currently under it include consists of McDonald’s Restaurant Chains, Krispy Kreme, Bruster's Ice Cream, Dairy Queen among others.The enterprise first went global in 1967 with restaurants in Canada and Puerto Rico. The McDonalds food chain currently has restaurants in almost all regions of the world, with 37,241 outlets in 120 countries [ CITATION McD18 \l 2057 ]. Their global Lead Markets include Australia, Canada and some of the European markets in Germany, France, and the U.K. While the corporation’s High Growth Markets include the Asian markets of China and Korea, Russia, and the European markets in Italy, the Netherlands, Poland, Spain and Switzerland.STRATEGIESMcDonald’s Corporation has applied three main strategies in going global. These strategies are:1.Culture Exportation.2.Franchising.3.Customized Menu and Prizes.1.CULTURE EXPORTATIONIn the pilot stages of going global, McDonald’s Corporation heavily depended on the fame of the American culture as a marketing tool. Popular Culture, famously pop culture, “in thiscontext it is defined as popular music, television, film, video, pulp fiction, comics, advertising,
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