Ethical Relationship and Innovation in McDonald's Fast Food Chain
Added on 2020-06-06
13 Pages3538 Words277 Views
MANAGEMENTREPORT
EXECUTIVE SUMMARYMcDonald is one of the largest fast food chain company in the world. The report isconducted to identify the importance of Ethical relationship and innovation for today's business.Then further, various aspects in context to these themes have been discussed further citedorganisation. In one section the importance of these themes are discusses as followed with in theother section the need of improvement that should be implemented in an organisation withreference to these two themes. The report is giving particular information about relationship withsuppliers and about the Innovation in a company. Then further it is giving the information aboutthe relation of McDonald's and its suppliers and how these two are providing resources for thedevelopment of the company. Then the report is giving information about innovation techniquesin McDonald. Finally the research is conducted about the points that should be improved inMcDonald referring it to the selected themes.
Table of ContentsMANAGEMENT REPORT............................................................................................................1EXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1A) Importance of themes for today's business.................................................................................1Importance of Ethical Relationships with suppliers and Innovation in Business..................1B) Responding to Relation with suppliers and innovation in business by McDonald.....................4Response of Ethical relationship with suppliers by McDonald..............................................4Innovation in business by McDonald.....................................................................................5C) Improvement in the response of McDonald to their challenges.................................................7Improvement in maintaining ethical relationship with suppliers...........................................7Improvement in Innovation McDonald can proceed..............................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONMcDonald's is among the largest Fast food company which is largely know for its hot andfresh fries, burgers, hamburgers and soft drinks. This company is operating around 30,000restaurants in all over 199 countries in the world. In UK most of the McDonald restaurants are onthe franchise basis (Chesbrough, 2010). The Company is operating in very competitiveenvironment which leads them to adopt the most innovative and appropriate strategies andtechniques which helps them to compete. The organisation has been consistently satisfying theircustomers with a range of innovative techniques and also they have successfully maintainingeffective relationship[s with their suppliers. This report is focusing on two themes which is relating to the company which are Ethicalrelationship with suppliers of the company and Innovation which can help the company for itsdevelopment. Further the report is also giving information about the improvement in relationswith suppliers and innovative techniques implemented by the company. A) Importance of themes for today's businessImportance of Ethical Relationships with suppliers and Innovation in BusinessMaintaining ethical relationship with suppliers plays a very crucial role in thedevelopment of businesses and profit making to an organisation. Mostly at very basic level, anenterprise needs the suppliers, either to supply the needed resources to run their business, or toprovide the resources for products and services providing by the company to their customers.Suppliers relationship moral provides several benefits in culminating a healthier bottom line as itprovides: -Reduction in Cost: - Supplier relationship management can eliminate several significantcosts, like cost involving in deal setting with new suppliers. The company can endeavourfor saving of cost over long term by directing mutual beneficial relationship with theirsuppliers (Drucker, 2014). It will also assist in reduction of available problems, qualityand delay issues, and allow the organisation to serve better service to their customers.Increases the efficiency: - Fair and health relationship with the suppliers results inimprovement in communication. By this the suppliers would be able to completelyunderstand the businesses they are serving, which will allow them to serve moreefficiently and reduce the delay in supply chain because of lack of communication. 1
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