McDonald’s Make Over

This is an interesting article from the New York Times http://www.nytimes.com/2009/01/11/business/11burger.html?_r=1&em=&pagewanted=all  detailing how McDonald’s proactively addressed the company’s lack of direction and slumping sales in the mid-1990s.  This situation prompted a major reevaluation of the company’s management philosophy, employee training and menu items.  Pay special attention to the development and details of the company’s “Plan to Win,” – comprised of the “five P’s”: people, products, place, price and promotion. Obviously the vast resources and access to talent enables huge corporations like McDonald’s to research, craft, and implement marketing and training plans such as this – but there are simple principles here that can be easily and inexpensively implemented by even small businesses.  Focusing your own firm’s commitment to delivering a quality work product based on attention to details, truly listening the needs your clients, and recognizing that perception is crucial to your long-term success are the easiest places to start.