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Business Health Check (BHC) Assignment

   

Added on  2020-12-18

13 Pages3747 Words322 Views
BHC

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11.1 Analysing the objectives of organisation.........................................................................11.2 Explaining factors impacting business.............................................................................21.3 Initiating improvement in company by using Ansoff Growth Matrix.............................42.1 Reviewing effectiveness of organisation..........................................................................52.2 Developing plans to improve company............................................................................63.1 Meaning of technical, operational and managerial skills.................................................73.2 Devising plan for development of skills for management and staff.................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONBusiness health check is quite important for assessing the performance of organisation inmarket with that of its competitors. Present report deals with McDonald's which is engaged infast food sector and satisfying customers worldwide. The model such as PESTLE analysis,Ansoff's Matrix, SWOT analysis and Porter's five forces are applied to organisation for assessingfactors impacting business. Furthermore, plans are devised for the firm for achieving statedtargets in an effective manner. Current skills, abilities of management and staff as well as itseffects on company's performance are evaluated quite effectually. Appropriate plan has beendevised for initiating the improvement in skills of workers and management. 1.1 Analysing objectives of the organisationCompany runs business in order to provide quality goods and services to the society. Inreturn, firm gains income by supplying services quite effectually. In relation to this, businessearns profit and establishes brand image by providing desired goods to customers and enhancinglevel of satisfaction in the best possible manner. It is required so that market share can bemaximised in a better way (Park, Kim, Ahn and Kim, 2018). In relation to this, McDonald's,which is one of the biggest companies is engaged in imparting fast food services to earn higherrevenue and satisfy customers to a high extent. It can be analysed that organisation was found inthe year 1940 as a restaurant only by Richard and Maurice McDonald in US (United States).Afterwards, both of them baptised business as hamburger stand. McDonald's has used first time its franchise the logo of Golden Arches in 1953 atPhoenix, Arizona. In 1955, businessman Ray Kroc had joined company as an agent in franchiseof organisation and further moved to buy the chain from two brothers. It was named afterbrothers. The company had its headquarters in Oak Brook, Illinois but now has shifted tointernational headquarters to Chicago in the year 2018. McDonald's is one of the largestrestaurants in terms of revenue and is serving over 69 million customers in more than 100countries. Thus, it can be said that business is able to collect revenue quite effectively andcustomers are satisfied with the same. There are various food items provided by organisationsuch as cheeseburgers, wraps, hamburgers and French fries. Furthermore, it is able to garnergood quantum of profits as net income in $4.686 billion in the financial year 2016. The long term objectives of McDonald's are as follows:To serve quality food to customers at affordable prices in a friendly environment1

To be socially responsible organisation providing good quality foodsTo earn profits and maximise returns of the shareholdersThe short-term objectives of McDonald's are listed as below:To provide quality and fresh food to customersTo open new restaurant chains in more countriesSMART criteria can be applied in relation to the objectives of company. These are: S (Specific) - The specific goal is much more relevant than that of general goal. McDonald's hasspecific goal to explore markets and satisfy customers in effective way (Tien and Chung, 2018). M (Measurable) - This can be measured in by establishing concrete progress in attaining goals inthe best possible manner. It means that company should go on track and at targets so that it maybe attainable.A (Achievable) - The achievable is when goals are identified and as such, business is able tofigure out ways to achieve the same. R (Realistic) - The goals should be realistic which must represent objective in effectivelymanner. High and low goals can be identified in a better way.T (Timely) - Goals stated by McDonald's should be achieved within timely manner. Withouttime frame, business may not strive to accomplish goal in effective way. 1.2 Explaining factors impacting businessPESTLE AnalysisP (Political) - The presence of organisation is in all over the world and is following suchsituations in effective manner. It is developing its food meals as per specific nation's politicalfactors (Vandesande, Balen, Della Torre and Cardoso, 2018). E (Economic)- McDonald's is affected economic factors and is pricing its products as per cost ofliving index and also using purchasing power parity up to high extent.S (Social)- Organisation has effectively established its food items by taking into account socialfactors but has not customised goods in relation to specific customer needs which is done by itsrival Burger KingT (Technological) - McDonald's is deploying modern equipment and machinery and is injectingproduction level with the help of technological advancement.2

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