Introduction
The proposed research topic is on the effects of raising the minimum wage of workers at the world’s largest fast food chain – McDonalds. There has been a stir among researchers about the feasibility of this proposal ever since President Barack Obama and the liberal party made raising the minimum wage one of their focused agenda. Experts in the field of economics have divided opinion over the matter and no solid conclusion could be made regarding the matter (Conservative Tribune, 2014; Shin, 2013; Ticker, 2013; and Weissmann, 2014).
It is due to this divided opinion that a research such this is necessary. The results of this research would be beneficial to both laypeople and experts as will add new information on and sum-up the possible effects of raising the minimum wage, particularly, at McDonalds.
One-sentence project proposal and background
The research problem that will be addressed in this study is: Will raising the minimum wage at McDonalds would benefit both parties – the employees and the company? The approaches that will be used in this research proposal is a review of the most current studies about the effects of raising the minimum wage on restaurants such as McDonalds, as well as identify the theories that would explain such effects. This approach requires that some background information be researched upon; such as, the economic definition of “minim wage,” the economic performance of McDonalds over the past few decades, and the divided opinions of both laymen and experts regarding the topic. Note that it is important to answer the aforementioned problem because the answer to it can serve as a basis by the company to decide whether it should raise its minimum wage or not. The answer to the problem is also important to determine whether the liberal agenda of raising the minimum wage is justifiable when applied to fast food chains. Lastly, answering the problem would provide both experts lay people a basis for their educated opinions which can serve as a basis for future initiatives.
Materials to review
The materials which will be reviewed in this study constitute online and library sources. The sources will be the most current publications of studies relating to the topic. The approximate timeframe that is chosen for the publication date of the said sources will be from 2008 to 2014, as this is the time frame when the liberal party has pushed for the minimum wage increase. The sources that will be used in this study will be mostly peer reviewed publications. The reason for the tight time frame and type of sources is to increase the validity and reliability of the information as well as the findings of this study, rendering them applicable in actuality.
Expected Research Methodology
It is expected in this research that both quantitative and qualitative secondary data will be gathered. This means that statistics and content analysis. The entire methodology therefore is a mixed method. Mixed methods are efficient in increasing the validity and reliability of information as it allows the qualitative data and quantitative data to reinforce each other (Johnson and Onwuegbuzie, 2004).
Research schedule
This research will be performed for three months. There will be SMART goals for each month in order to make the progress of the research traceable. The following chart shows the time line for this research.
References
Conservative Tribune (2014). This McDonalds’ Response to Obama’s Minimum Wage Plan is Brilliant. Retrieved from: <http://conservativetribune.com/mcdonalds-fries-obama/>.
Johnson, R.B. and Onwuegbuzie, A.J. (2004). Mixed Methods Research: A Research Paradigm Whose Time Has Come. Educational Research, 33(7), pp. 14 – 26.
Shin, L. (2013). Why McDonald's Employee Budget Has Everyone Up In Arms. Retrieved from: <http://www.forbes.com/sites/laurashin/2013/07/18/why-mcdonalds-employee-budget-has-everyone-up-in-arms/>.
Ticker, D. (2013). How Raising the Minimum Wage Would Benefit McDonald’s and Walmart. Retrieved from: <http://finance.yahoo.com/blogs/daily-ticker/how-raising-the-minimum-wage-would-benefit-mcdonald-s-and-walmart-142746772.html>.
Weissmann, J. (2014). Raising the Minimum Wage: A McDonald's-Killer, Not a McJobs-Killer. Retrieved from: <http://www.theatlantic.com/business/archive/2014/02/raising-the-minimum-wage-a-mcdonalds-killer-not-a-mcjobs-killer/283638/>.
