The World s Largest Chain Of Fast Food Restaurants Essay

Organization Name and Background Founded in the year 1940 in San Bernardino, California, McDonald’s Corporation, the industry pioneers of fast food restaurant chains, grew to become the world’s largest chain of hamburger fast food restaurants, with a worldwide client base of more than 58 million daily customers. Through the introduction of their â€Å"Speedee Service System† in 1948, the principles of modern fast-food restaurants arose, and saw the establishment of the present McDonald’s corporation that dates back to April 15th, 1955 with the opening of a franchise restaurant by Ray Kroc, in Des Plaines, Illinois. It was Kroc, who then purchased equity in the company and led to the worldwide expansion of the corporation. The first McDonald’s restaurant, located at Des Plaines, Illinois saw relative success early on with its first day sales revenue totalling to $366.12 back in the year 1955. Accounting for inflation based on the consumer price index (CPI) of 1955 and current day CPI indexes, this amounts roughly to around $3,250, which would be considered a relatively moderate success for an organization that was so unique, innovative and revolutionary for its time. The company saw tremendous growth over the next decade and grew to over 700 locations by the year 1965, throughout the United States, shortly before going international in the year 1967, expanding operations to Canada and Puerto Rico as test markets, owing to their proximity. As of today, based on 2015 data,Show MoreRelatedMcdonald s Corporation : The World s Largest Chain Of Fast Food Restaurants Essay1600 Words   |  7 PagesCorporation is the world’s largest chain of fast food restaurant, serving nearly 69 million customers daily through more than 36,538 restaurants in 119 countries worldwide (McDonald s, n.d.). McDonald’s is one of the most valuable brands, worth more than $25 billion. 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McDonalds also keep in mind the customers need and by looking at it, they decide what to serve, what will be the price of the product, how to advertise its product and the location of the restaurant. Which will be more convenient to the customers McDonalds also identifies different types of customer and their needs through social media or the market research. And according to it they decide what to produce. And also finds out that how theyRead MoreConsumer Attitudes to Western Fast Food Restaurants1112 Words   |  5 PagesConsumer attitudes to Western fast food restaurants 1. The introduction of the program. I am the manager of a restaurant, I plan to affiliate a western fast food restaurant. so, I have to investigate the attitudes toward western fast food restaurants in Xi an city. Among most western restaurants, the KFC, the McDonalds and the Pizzahut. Therefore, I decide to carry on the market survey. 2. The background and history of the three companies. 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