Financial Management and Cost Control Practices in McDonald's Restaurant

Financial management and cost control 1
FINANCIAL MANAGEMENT AND COST CONTROL PRACTICES
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Financial management and cost control 2
Introduction
Financial management and cost control practices refer to the measures and precautions that are
undertaken to safeguard the economical use of money in a business entity. McDonald’s
Restaurant is a corporation in the food industry that has established its roots in several places
globally (Kulikova, and Safarova, 2016). The junk business is a huge mockery without the
involvement of McDonald. This is a fast-growing business entity that has a customer satisfaction
of 100%. This is due to the type of service offered in the conglomerate as top notched and
qualitative foods are sold here with its diverse roots in various nations, The food Corporation
provides different types of foods according to the locality of the geographical space. Fast foods
such as sirloin sandwiches and chicken tenders are the common menu affiliates in this food
corporation. With more than 1.5 million folks working here, the service delivery is usually at its
best for the betterment of customer satisfaction(Kulikova, and Safarova, 2016).
ANALYSIS OF THE INTERVIEW FINDINGS
Involves all attempts and procedures in ensuring that the eatery business is economical in its
budgeting whereby it minimizes the costs indulged and maximizes profit earned (Lawal, 2017).
McDonald front house operations involve the locations in the business corporation that are
accessible by the customers In ensuring high-quality service delivery the organization manager
provides proficient productivity to clients in the restrooms, the restaurant bar, and the dining
room. In order to accomplish this, the rooms are skillfully and effectively planned and organized.
More experienced and qualified staff are hired into the cleaning and customer services
(Karmanovaet al, 2016)

Financial management and cost control 3
The staffs employed at McDonald are ever friendly and shrewd critical thinkers. Not only does
experience matter but also the attitude one has towards the customers who come to seek services
from the posh restaurant (Chatterjee, and Lygeros, 2015). The front house of the restaurant is
usually stocked accordingly with the best expertise in that particular field. The first outlook of an
eatery business can either make it or break it. The wait station of McDonald is well stocked to
the best to achieve 100% customer satisfaction rate (Abadie, Diamond, and Hainmueller, 2015).
Front of the house promotions is very key in the conglomerate operations as they attract more
customers This being a successful restaurant McDonald offers dinner specials in after every three
weeks. This act is usually done in an attempt to show appreciation to the customer for their
loyalty. However, Macdonald uses such events to bring more business opportunities in the
business entity. Hence the promotions tend to make the business corporation busier
Managing the front of the house operations
McDonald restaurant has an effective cost control technique. The point of sale systems is highly
integrated. The POS are majorly used in this business corporation in order to ensure that the
charges involved in the selling of drinks and foods are easily traceable. Hence this technique is
efficient for accountability in the sales of the restaurant. This is useful in budgeting and auditing
in the restaurant (Karmanova et al, 2016).
The guest services are automatically updated and enhanced in a digital way such that guests
harmonize a relationship with the restaurateur, this is accomplished through the applications
used. In addition to this, the application has a delivery management with an ID personality
interface that is interfaced (Yazdanian, and Mehrizi-Sani, 2014).