McDonald's Globe

Alex Henderson, Rebecca Norris, Morgan Dorsett, Sarah Savell, Brittany Davis. Group 20 Section 001
Globalization is defined as the worldwide sharing of goods, ideas and culture through increased communication and advanced technology. Some
people may not like the fast paced way of globalization, however; if a country does not keep up with globalization that country will be left behind. When thinking of globalization as it applies to food chains, McDonalds immediately comes to minds. As the leader of the fast food industrys, other competitors must keep up with McDonalds trends and low prices or that competitor will eventually go out of business. Although McDonalds does practice less then popular business tactics, the
business is a great success. Considering their business tactics, one wonders why they are so successful. Those familiar with globalization would say it is because they follow the rules of the Golden Straightjacket as explained by Thomas Friedman in The Lexus and the Olive Tree. A few examples of these golden rules of globalization as they apply to McDonalds are as follows: McDonalds is a company that is constantly moving forward. They are always coming up with new and innovative ideas to keep their products moving. They also maintain a low rate for their products while being consistent in the quality, be it good or bad, of their product. McDonalds has also made its currency convertible. By being a franchised company, as opposed to a local company, money spent at the local McDonalds does not stay in the community. It instead is sent to headquarters and from there said money could go to any McDonalds location in the world. They have successfully transformed the fast food industry into the one size fits all category. All other fast food restaurants have to live up to McDonalds low prices and Happy Meals therefore turning their business market into the survival of the fittest: fast food style. Or, globalization: fast food style.

Category:

Education

Tags:

• Globalization
• McDonald's