...CHAPTER 1 THE PROBLEM AND ITS SETTING I. Introduction As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. However, the role of a CPA in helping businesses come up with a good and effective decision-making is said to be one of the important responsibilities of a CPA. The many traditional roles of a CPA in assisting businesses take on even greater importance in a volatile economic environment. CPAs are relied upon so much because of not only their keen analytical and decision-making skills but also their objectivity, integrity and dedication to service. Many CPAs provide services well beyond accounting, auditing and reporting. The consumer often expects a CPA to be proficient at many specializations, even those just indirectly related to the traditional role of an accountant. The CPA's role has been quickly expanding, and one leading CPA proposed that the term CPA more appropriately stand for Certified Professional Advisor. (www.picpa.org) A CPA is much more than its definition of Certified Public Accountant. The term certified refers to the licensing to carry on business as a CPA and meeting the standards as promulgated by the American Institute of CPAs and the various state societies...
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...McDonald’s Case Study Introduction In order for organizations to meet the business goals that they set forth, they must have the people capable of meeting those goals (PMI Today, 2015). Many company leaders will say that one of their top priorities is talent management (Silzer & Dowell, 2010). There is a link between an organization’s success and the efficiency of the talent management plan that the organization has in place. Talent management is the function that identifies and recruits the right people, develops a pool of people with the requisite technical, business and leadership skills, creates succession plans and effectively mobilizes people from current assignments to the next or priority opportunities. (PMI Today, 2015, p. 3) When an organization’s talent management system is no longer effectively assisting with meeting business goals, the organization must determine what changes need to be made and implement those changes. One example of an organization that found improvements were needed in their talent management program was McDonald’s. McDonald’s began looking at their talent management program after declaring their first loss in the fourth quarter of 2002. There was a clear problem when the company’s performance had dropped but the performance ratings of managers were holding at more than 90% of them being “outstanding” or “excellent”. The disparity between the performance ratings of managers and the company’s ability to fill key leadership roles when...
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...LEADERSHIP5 Effective Leadership6 Leadership Qualities6 Traits of Effective Leadership7 LEADERSHIP VERSUS MANAGEMENT8 INTRODUCTION OF THE COMPANY9 Corporate Policy and Work Culture9 Leadership Style11 MOTIVATION AND LEADERSHIP About Motivation13 McDonald’s Motivating Factors13 TEAM-WORK AT MCDONALD’S16 THE OVERALL LEADERSHIP AND CORPORATE VALUES17 CONCLUSION19 THE CASE STUDY20 References21 ACKNOWLEDGEMENT . We are heartily thankful to Allah Almighty for giving us the strength and health to work on this report work. We wish to express our sincere gratitude to our beloved teacher, Madam Sumaira Osmani, for her guidance throughout this report. We had some difficulties in doing this task but she was always there to guide us whenever we were faced with any problem. We gratefully acknowledge the suggestions and academic support provided by our subject teacher Sir Hassan Tahir Siddiqui. Last but not the least, we wish to express a sense of gratitude and love to all our friends for sharing the ideas and our parents for their support, strength, help and for everything. We also offer our best regards to all those who supported us in any respect during the completion of the report. ABSTRACT In this study we sought to discover what leadership techniques and group skills are actually practiced by McDonald’s employees. By reviewing a series of research we discovered that McDonald’s leaders demonstrate quality leadership and that the organization as a whole...
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...MCDONALD’S RECIPE FOR SUCCESS McDonald’s USA, LLC, is famous for its burgers and fries. But last year, its training organization made a name for itself with learning programs that ensure its customers continue to receive the level of product and service they have come to expect. Article Author: Lorri Freifeld By Margery Weinstein Who isn’t familiar with McDonald’s? Its golden arches are among the most recognizable brand icons in the U.S. What many are less familiar with is the methodical and distinguished learning and development that supports that brand. Training that begins by preparing employees to serve customers at the counter, and extends to programs that help individuals launch their own franchise, is a key to McDonald’s 50-plus-year success story. Last year, the company kicked it up a notch with improved restaurant leadership training, sharpened people selection and processes, and refined coaching and mentoring practices. Capstone Coursework Last year, McDonald’s U.S. Training, Learning and Development team partnered with Owners/Operators and Operations Leadership to develop the curriculum for Restaurant Department Management, says Vice President of U.S. Training Diana Thomas. “This is a new and holistic management approach to enable managers to consistently run great restaurants,” she points out. Three new department manager roles were created to support the changing needs of business operations, all reporting to the restaurant’s general manager. The curriculum...
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...Running head: MCDONALD’S CORPORATION 1 McDonald’s Corporation Your Name Name of Institution MCDONALD’S CORPORATION 2 McDonald’s Corporation Executive Summary McDonald’s restaurant was founded by Maurice and Richard McDonald, two brothers who started the restaurant’s legacy as a small business in California that served milkshakes and hotdogs. The McDonald brothers soon introduced hamburgers to their restaurant menu, after reevaluating the business. In addition, the brothers implemented what they called the “speedy service system,” and this was comprised of an all-male staff working in an assembly line manner while serving customers from a 9-item menu. The McDonald’s business concept expanded rapidly and the first McDonald’s franchise was sold to Neil Fox in 1952. Mr. Fox opened a Phoenix, Arizona restaurant. The second franchisee was Ray Croc, who was the most successful franchise agent in the United States. Since its launch, McDonald’s Corporation has undergone several problems due to mismanagement, poor marketing, increased competition, and noncompliance of franchisees. Facing these problems has resulted in the corporation implementing new business strategies aimed at improving the corporation’s performance in an industry of competitors (Kerry, 2010). This paper focuses on how the corporation’s management and leadership used the adoption and implementation of strategic initiatives to attain its current status. Planning McDonald’s soon saw competition from...
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...Assignment # 1: McDonald’s Case Study June N. Lewis Dr. Waldo, Instructor Talent Management - HRM 532 Strayer University July 21, 2013 Assignment #1: McDonald’s Case Study Outline the talent management program that led to success for the company. In the fourth quarter in 2002, McDonald’s had their first profit lost and the company began to ask themselves what went wrong because they had a history of outstanding performances until then. Upon reviewing some of their key components, the organization realized that they had to revamp their Talent Management process so that it would become aligned with the company’s business objectives and policies. Talent management is defined as “a subset of human resource (HR) processes, programs, and tools designed to identify, assess, develop, and retain talent (Silzer & Dowell, 2010, p.75). The company’s first two steps in achieving success was to restructure their performance development system (PDS) throughout the organization for all of the staff positions along with coming up with a talent review process for all of the officer-level positions in the company. Next on the list was creating and implementing a sequence of enhanced development programs, such as, Leaders at McDonald’s Program (LAMP), the McDonald’s Leadership Institute, finally, the launching of the Global Leadership Development Program. When McDonald’s had originally rolled out their strategy for the performance development system (PDS) in 2001 for all of the staff...
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...Case 1 McDonald’s: Grilling Up an Empire 1. Describe some of the management challenges McDonald’s has likely faced in its expansion internationally. McDonald’s has been a staple in the restaurant business for as long as most of us can remember. It has achieve around the globe, but not without overcoming a fair amount of challenges in its pursuit of the title “King of Fast Food”. The basis for the entire business is ethical, truthful and dependable. It takes time to build reputation. McDonald’s has developed a successful strategy for operating their fast-food enterprise across the globe. This strategy has been one that is developed based on existing operation as well as the local cultures and customs that make each McDonald’s relevant to the international markets in which it operates. However, McDonald’s could not rely merely on its brand success and simply run their international locations. They needed to attune their brand to the needs and wants of the local customers in each of the markets they had entered. Within this awareness about brands and brand development, McDonald’s faced a challenge that needed some serious considerations in order to insure its chances of success in international markets. Marketers need to be aware of the cultural and societal connotations the brand is taking on and the way these are changing or staying the same as norms of interacting are changing or staying the same as norms of interacting are changing...
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...McDonald’s Organizational Capabilities A.) One of McDonald’s organizational capabilities is the emphasis they place on their leadership practices and the extensive leadership programs they offer. According to an article by Joan Gallos regarding McDonald’s leadership practices, “It starts with having high standards. When we talk about people being ‘ready now’ and ‘ready future’, the ‘ready now’ candidate has to be someone who can be better than the incumbent over time. And, if every time you have an opening you put somebody in that’s stronger, you’re going to increase your organizational capability.” (Gallos, 2011) 1.) This organizational capability definitely contributes to superior customer value. Focusing time and resources to ensure strong and sustaining leadership skills allows McDonalds to maintain the skills necessary to keep their customers happy and satisfied. 2.) Yes, this organizational capability can be used in a variety of ways. Training strong current and future leaders contributes to all aspects and areas of the McDonald’s organization. 3.) Though other fast food organizations have the capability of implementing strong leadership programs, McDonalds has proven to be a leader in structuring strong leadership programs and high standards. B.) McDonald’s ability to adapt to changes in technology, demographics, and globalization is another strong organizational capability. In order to achieve a high level of adaptability to these ever-changing dynamics, they...
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...Running head: MCDONALD’S CORPORATION McDonald’s Corporation Your Name Name of Institution 1 2 MCDONALD’S CORPORATION McDonald’s Corporation Executive Summary McDonald’s restaurant was founded by Maurice and Richard McDonald, two brothers who started the restaurant’s legacy as a small business in California that served milkshakes and hotdogs. The McDonald brothers soon introduced hamburgers to their restaurant menu, after reevaluating the business. In addition, the brothers implemented what they called the “speedy service system,” and this was comprised of an all-male staff working in an assembly line manner while serving customers from a 9-item menu. The McDonald’s business concept expanded rapidly and the first McDonald’s franchise was sold to Neil Fox in 1952. Mr. Fox opened a Phoenix, Arizona restaurant. The second franchisee was Ray Croc, who was the most successful franchise agent in the United States. Since its launch, McDonald’s Corporation has undergone several problems due to mismanagement, poor marketing, increased competition, and noncompliance of franchisees. Facing these problems has resulted in the corporation implementing new business strategies aimed at improving the corporation’s performance in an industry of competitors (Kerry, 2010). This paper focuses on how the corporation’s management and leadership used the adoption and implementation of strategic initiatives to attain its current status. Planning McDonald’s soon saw competition...
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...Week 3 Assignment 1: McDonald’s Case Study HRM 532 Talent Management Strayer University July 21, 2013 Dr. Robert D. "Doug" Waldo, SPHR For most of its fifty-four years of existence, McDonald’s has been very successful in growing its business while being able to utilize a decentralized approach to managing its global workforce. The size, complexity and global character of the business has continued to grow to more than 32,000 restaurants in 118 countries serving approximately 55 million customers per day. Even with this success, it became apparent that sustained success requires the development of a more consistent and disciplined approach to talent management and development. In response to this specified need, McDonald’s has taken steps that have enhanced its talent management and development system (Goldsmith & Carter, 2010). There are two levels that were embedded with the expectations of the employers which consist of good customer service and experience levels. Customer service and experience levels are key metrics that are embedded within the performance expectations for employees throughout the system. This made McDonald’s concentrate on the quality, service, cleanliness, and the value of being strong. These variables have been strongly linked to customer expectations and loyalty. All efforts to enhance the company’s global workforce management system incorporates a focus on key behaviors; which consists of customer focus and service orientation and...
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...McDonald’s Case Study By John D. Robinson Completed in fulfillment of requirement for Talent Management in HRM 532 Submitted on 30 October 2012 Key Words for Library Catalog Submitted to: Business Strategies Prof. Talent Management Program Course Instructor Talent Management Process Talent Management Planning Developing Talent Outline the talent management program that led to the success for the company. In the broadest sense, talent management has been described as “a deliberate and ongoing process that systematically identifies, assesses, develops and retains talent to meet current and future business needs and objectives.” (Wiley & Sons) McDonald’s has taken the steps to put talent management at the core of their overall Global Business Strategy for success. McDonald’s used a broad-scale initiatives approach to development and retain talent and its working! Reporting their first ever loss in Q4 2002, the CEO resigned and the new CEO stepped in and began to implement a new business strategy to right the ship. McDonald’s leadership understood that in the rapidly changing 21st century business world, the best companies implement and aggressively support any initiative that promotes the link between keeping the best talent and achieving the best results. The initiatives McDonald’s implemented to align their talent management programs with their overall Global Business Strategy are as follows: * Performance Development...
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...McDonald’s Keanu Gordon-Williams Lujack McReynolds 11/29/2012 Table of Contents Executive Summary LM………………………………………………………………………… 3 Introduction KGW ……………………………………………………………………………….5 External Analysis KGW .…………………………………………………………………………5 General Environment KGW……………………………………………………………... 5 Technological Factors KGW ....…………………………………………………..5 Economic Factors KGW ………………………………………………………… 6 Demographic Factors KGW..……………………………………………………..7 Global Factors KGW ……………………………………………………………. 7 Sociocultural Factors KGW..……………………………………………………..7 Industry Environment KGW .……………………………………………………………. 8 Opportunities KGW..…………………………………………………………….. 8 Threats KGW..…………………………………………………………………… 9 Porter’s Five Forces KGW...………………………………………………………………9 Threats of New Entrants KGW …………………………………………………...9 Bargaining Power of Buyers KGW……………………………………………...10 Bargaining Power of Suppliers KGW……………………………………………10 Threat of Substitutes KGW………………………………………………………10 Internal Rivalry KGW……………………………………………………………11 Internal Analysis LM…………………………………………………………………………….11 Core Competencies and Competitive Advantages LM…………………………………..11 Sustainable Competitive Advantages LM……………………………………………… 13 Organizational Culture and Leadership LM …………………………………………….14 Strategic Alternatives KGW & LM ……………………………………………………………..20 Business Strategy LM …………………………………………………………………...20 Corporate Strategy KGW………………………………………………………………. 21 Global Strategy KGW………………………………………………………………….. 22 ...
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...McDonald's is the leading global food service retailer, with more than 33,000 local restaurants serving more than 64 million people in 118 countries each day. More than 80% of McDonald's restaurants worldwide are owned and operated independently. McDonald’s is categorized as a fast-food restaurant that serves mainly hamburgers, fries, and beverages, with the main focus on product and service quality, speed and accuracy. McDonald’s uses Cost Leadership Strategy in combination with Operational Excellence Strategy. A Cost Leadership Strategy is a strategy an organization follows when it wants to be the lowest-cost producer in its industry. Operational Excellence is a philosophy of leadership, teamwork and problem solving resulting in continuous improvement throughout the organization by focusing on the needs of the customer, empowering employees, and optimizing existing activities in the process. This company is creating value, based on price, combined with customer service. Cost Leadership Strategy allows McDonald’s to keep production costs and customer prices low; meanwhile, Operational Excellence helps maximize the efficiency of the product development process to minimize costs, but creates a competitive advantage on operational excellence. Employees need to identify and follow efficient processes and engage in improvement practices. The big advantage of McDonald’s is mainly consistency, fast service, quality, and global coverage. This means that a traveler from...
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...McDonald’s Evaluation Gregory Callahan Devry University Professor Preissle September 8, 2013 The fast food empire has operated throughout the past several decades using numerous facets of the human relations skills to achieve their immense success. There are many notable aspects of the company that human relations have played an integral role in shaping. McDonald’s has been particularly keen in using human relations skills within their organizational structure, including in the areas of career stages in career management, ethics, motivating performance, leadership, organizational change and culture, as well as valuing global diversity. These have all proved to be vital in paving the path for McDonald’s to achieve its goals, and human relations has been a major factor in doing so. Career management deals with taken responsibility for managing one’s career. Career management is compromised for career planning, career development, getting a job, career stages, and getting raises and promotions. Career planning is the process of setting career objectives and determining how to accomplish them. Career development is the process of gaining skill, experience, and education to achieve career objectives. Career stages refer to the different needs of people as they grow older during the span of their career. Human Relations in Organization by Robert N. Lussier breaks career stages down into different age groups: the 20, 30s,...
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...McDonald's four types of control mechanisms (ways controls are applied) used in the “McDonalds” organization. 1, Administrative rules and policies: Code of Conduct for the Board of Directors at McDonalds; The members of the Board of Directors of McDonald’s Corporation acknowledge and accept the scope and extent of our duties as Directors. We have a responsibility to carry out our oversight responsibility in the interests of all McDonald's shareholders, within the scope of our authority and consistent with our fiduciary duties and our governance documents. The Board of Directors has adopted the following Code of Conduct and our Directors are expected to adhere to the standards of loyalty, good faith, and the avoidance of conflict of interest that follow: Board Members will: Act in the best interests of, and fulfill their fiduciary obligations to, all McDonald’s shareholders; Act honestly, fairly, ethically and with integrity; Conduct themselves in a professional, courteous and respectful manner; Comply with all applicable laws, rules and regulations; Act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated; Act in a manner to enhance and maintain the reputation of McDonald’s; Disclose any potential conflicts of interest, including those that they may have regarding any matters that may come before the Board, and abstain from discussion and voting on any matter in which they have or may have a...
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