Introduction
Vision and mission statements are very crucial components of a business plan. Every business starts with an idea. The business idea can better be executed with the help of the two statements. A business must continuously adapt to its competitive environment. The vision and mission statement should remain relatively steady and provide guidance in the decision making process. Apparently, the vision statement of a business is also expressed by its mission statement (Talbot 2000).
Question 1
The possible vision and mission statements of the company are:
VISION: To be the world’s best provider of fast foods to all people and bettering their everyday life by providing services with integrity.
MISSION: providing the best restaurant experience to our global customers and deliver a greater value to our shareholders by ensuring that we grow bigger and better.
Question 2
The vision and mission are good for the company as they are aligned to its goals and objectives. The vision statement outlines the core objective that it is committed to achieve. It intends to provide best services in the fast food industry. It intends to offer these services with a lot of integrity. This communicates to the clients the fact that the company is not just there to make profits maliciously but to make profits by providing the best services to its clients. This helps in attracting customers since they are assured of service with integrity. It also intends to serve many people so as to better their daily lives. In its day to day operations, the company will be making decisions by closely focusing on how the decision will help it realize its vision. The needs of the people come first.
The mission statement clearly outlines what the company is out for. It indicates its core values, purpose and goals (Talbot 2000). It provides an idea that the company has a plan to win and the plan is centered on exceptional customer experience- products, people, place, promotion and price. It is committed to continuously improve its operations so that it can grow not only bigger and better. In so doing, it will be able to service more customers while at the same time shareholders will derive a high value from their investment in the business. The business formed a franchise with the aim of growing bigger. The company categorically needs funds to grow. Shareholders are among the major providers of the required funds. By delivering high value to its shareholders, the company will be able to attract more of them thus raising more funds for growth.
The mission will help it focus closely on bettering customer experience hence avoiding losing customers as it happened prior to 2003. It is also in an effort to grow that the company came up with products to be purchased in local grocery stores, foods in sit down restaurants and delivery foods such as pizza. Growth therefore seems to be the driving force. It has acquired small chains Boston market, Donato’s pizza and chipotle Mexican grill. This shows that the company is diversifying its services so as to reach more people. Its objective of being a world leader in provision of fast and affordable food to ever individual can therefore be achieved if the mission and vision are closely followed. The vision and mission statement therefore reveals the diversification of the goals and objectives and goals of McDonald. They will always provide directions to the company’s staff and shareholders.
Question 3
Competitive strategy
McDonald offers quality services and products to its customers at an affordable price. Providing quality and diversified products and services will attract more customers and the company will gain an advantage over the others (Aaker 2004). The company is continuously acquiring other smaller service providers in the sector so that it can gain a greater momentum to compete with the major competitors who are threatening its existence. Its services are also diversified to ensure that it caters for the needs, tastes and preferences of its many customers. The company is trying to create a strong brand name through product promotion and diversification of its services. This will enable the company to strongly compete in the highly competitive market and dominate the sandwich market.
Plan to win strategy
The plan is more of a marketing strategy. The plan focuses on five major drivers of success: place, people, product, price and promotion. It wants to ensure that its products are quality and diversified, fairly priced, reach every person wherever they are and that the exemplary performance of its employees are always recognized and rewarded. This will make its employees to continuously work harder and smarter while at the same time upholding the image of the company. Its staff is regularly trained to ensure that they are updated. McDonald ensures that the restaurants environments are clean so as to please its customers. This strategy will enable McDonald to be miles ahead of its competitors. McDonald counters any of its competitors’ moves to dominate the industry. Any customer complaints are rapidly addressed and their needs catered for to ensure that the company does not lose its customers to the competitors.
References
Aaker, D. A. (1984). Developing business strategies. New York: Wiley.
"Mcdonalds Case Analysis”. Pdf doc.
Talbot, M. (2000). Make your mission statement work: How to identify and promote the values of your organisation. Oxford, UK: How To Books.
