Food and Beverage Industry Challenges
Added on 2020-06-03
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Hospitality Environment
Table of ContentsIntroduction.........................................................................................................................................3Task 1...................................................................................................................................................3Task 2...................................................................................................................................................6Changing lifestyles...........................................................................................................................6Business law.....................................................................................................................................8Conclusion..........................................................................................................................................10REFERENCES........................................................................................................................................11
IntroductionHospitality one of the most growing industry in the United Kingdom which provideemployment, economic growth and create an ideal image at the global level. It includeslodging, event planning, transportation, accommodation, food and restaurant etc. The currentreport based on Macdonald which is a restaurant chain and operate their business in UK(Valta and et. al., 2015). they provide a wide range of products and services to its customerwith high quality. This study will explain about the historical background of the cited firmand mission and objectives, area op operation and its long and short term targets. In thesecond part of the report will discussed about the changing life style which h influences thepurchasing decision making of the customer. There is various legislation issue which can berelated with the employment law, consumer law and so on which helps to meet its long termtargets (Bujisic, Hutchinson, and Bilgihan, 2014). Task 1 Historical background: Macdonald corporation is one of the leading restaurant chainwhich having more than 60 million customers daily. It was founded in 15 may, 1940 approx.77 years ago. The founder of the company Richard and Maurice Macdonald whichheadquarter located in Oak Brook US and planning to move in Chicago in the next year. OnApril 1955, Kroc purchase equity in Macdonald Brother restaurant for the worldwideexpansion. According to the given data by the end of 1965 the corporation is having morethan 700 Macdonald store which is quite large as compare to other organization. the totalrevenue of the company recorded more $366 in the first day sales of their business (Borràsand et. al.,2015). In the next few years business entity the top management expand operationin to Canada and other part of the world. Between 1960-70 the marketing department of thecompany focused on advertising and invested a large amount of capital on promotionactivities which helps to promote their products and services in an effective manner. Thehigher authorities of the company went to issue share in order to expand their business at theinternational level. The offered $22.50 per share and on the first day trading the share pricehas increased by $30. In 1980’s which was expanding period due to opened a large number ofstore across the world specially, Europe, America and Australia continent. Between 1990-2000, they operated their business in to approx. 58 countries and more than 3500 restaurantsby using new business model; like joint venture, franchisee agreements (Dopson, LandHayes, 2015). In the year 2000, the firm focused on quality and stared restructuring process
there they closing approx. 800 stores. Because there is various franchiser compliant thatoperational cost is too high which reduced their profit and revenue. Mission and vision: It is essential for a business organization is to design theirmission and vision statement which provide future direction. A vision statement is describedthe company’s strategy and about the purpose of their business. Therefore, every firm is triesto established such statement and must be communicate with their employees. so that, theyfeel confident and contribute in attaining organizational targets in an effective manner (Wangand et. al., 2011). MacDonald’s corporation having their own mission and vision statementwhich provide guide to the leadership in the international level. It is related with thedesigning and developing goods and services. Apart from that, the vision statement is helps toprovide motivation to maintain their position at the global level. Today, MacDonald’s having36000 stores in different countries and focused on innovation and improve product perforceand enhanced customer loyalty. The marketing department using aggressive advertisingcampaign which helps to sustain their market share. MacDonald’s Vision statement: It is significant for a business organization is to createtheir mission statement which guide them what they supposed to provide and what strategiesthey are going to use. In the contexts of given case study, MacDonald’s is focused on theircustomer and provide a high quality product at the right price (Adeoye and Elegunde, 2012).They want to progressive in the burger market through offer unique customer experience andcommitted to delivering attractive services and create an ideal image in the market. they alsopromote innovation and continue improve their product and conduct feedback and marketsurvey which helps to meet customer experience. MacDonald’s Mission statement: On the other hand, mission statement includes thedetails of their market position. In the case of MacDonald’s their mission statement isfocused on customer, their product and place. The marketing manager of cited firm is used toprovide a great environment with positive community where its customer spent their valuabletime. They also promote in mission statement about the corporate social responsibility whichdevelop their business in a sustainable way (Goode, and et. al., 2013). for example, theyoffer its product in eco-friendly packaging which can be recyclable. They also try toconcentrate on financial position which is too significant for every business unit.
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