Functions of management and roles of management Assignment

Functions of management and roles of management - subsidisation ExampleFurthermore, this paper intends to ascertain the primary reasons of McDonalds behind securing a leading and most remunerative fast-food restraint in the world (Sabharwa, 2012). Discussion With the advent of globalization and the rapid development in technology, it is precise vital for every geological formation to adapt new techniques and strategies that would help them in maintaining and retaining a leading bit in the market. Accordingly, McDonalds is considered to be ace of the leading fast-food restaurants in the world. The fast-food chain was established in the year 1940 in California USA. Currently, the fast-food chain has a total number of 34,000 stores across the world and it further intends to work out its number of stores in future. It is worth mentioning that at the initially the business faced many challenges from increase competitors similar Burger King and Subway. However, the effective manag ement practice has embraced the fast-food chain to establish itself as a leading and one of the most renowned fast-food brand around the world. The primary reason behind its success can be attributed to adaption and execution of modern management function within the organization. ... Planning Planning is an valuable task and is the first-year function of management. Good planning contributes towards making effective decisions in subsequent stages. Accordingly, McDonalds has framed and apply different marketing strategies to seek large customer base and loyalty. The prime focus of the fast-food chain has been to tin products at affordable prices. The fast-food chain has also emphasized on meeting the needs of children by increase its product line especially meant for the children preferences and expectations. The fast-food chain widely considers promotional activities as an effective tool for increasing its competitiveness at global market segment. The fast-food chain has uses sl ogans such as We love to see you smile, Im Lovin it, and Food, Folks, and Fun, among others as a medium for promoting its product and services. Another important component of the fast-food chain has been its business leader to change its strategies quickly according to the changing business environment (Conrad, Grover, Vinciguerra & McKnight, 2009). Organizing The business model of McDonalds is just about different manner than other fast-food chain. The organization is considered to be one of the largest holders of franchisors around the world. After its establishment the organization has almost 34,000 stores and serving millions of customers daily worldwide. The strategy of providing franchisee is considered to be one of the most important functions of the company as it has helped the business in managing its brand awareness and expanding its business globally. Leadership The leadership in McDonalds has always been a prime factor for its success. The organization follows