MCDONALD’S Full Form? The name MCDONALD’S came from one of the founders Maurice McDonald. He and his brother Richard had founded the company. McDonald’s is presently the biggest chain of hamburger, fast food restaurants that serves more than 68 million customers every day in about 119 nations at about 36,538 outlets. The company was established in the United States of America in the year 1940 as a barbecue restaurant functioned by Maurice and Richard McDonald. In the year 1948, the business was revamped into a one selling hamburgers.
In the year 1955, Ray Kroc, a businessman, joined the company in the capacity of a franchise agent. He eventually bought the company and monitored its international growth. The company is based in Oak Brook, Illinois but is planned to be shifted to Chicago in the year 2018. A typical McDonald’s restaurant is functioned by the corporation itself or a franchise. The revenues of the company are derived from the royalties, rent, and fees given by the franchisees as well as from the sales in corporation-operated restaurants.
As per a 2012 BBC report, the company is the second biggest private employer, only after Walmart with about 1.9 million employees out of which 1.5 million work for franchises. The company is primarily engaged in the sale of hamburgers, chicken products, cheeseburgers, breakfast items, soft drinks, desserts, milkshakes, and French fries. The menu offered by the company is amenable to the tastes of consumers and therefore, many items such as salads, wraps, fish, smoothies, fruits, etc. have been added.
McDonald’s has taken immense advantage of globalisation and is an inseparable part of the process. Often, globalisation is referred to as McDonaldization.The Economist newspaper makes use of the Big Mac Index: A comparison is done taking in account the cost of a Big Mac in several world currencies to determine the Purchasing Power Parity of these currencies. The most expensive Big Mac is offered in Switzerland and the least expensive in India under the name “Maharaja Mac”.
The presence of McDonald’s is nearly universal. It is however barred from operating in Bermuda due to the passage of a law in the year 2013. The only foreign brand that operates in Bermuda is KFC, which had existed before the passage of law. The brand has made a great impact in the East Asian culture where many cultural and social associations are made with it. What more, McDonald’s has opened a restaurant underground the internationally famous Museum , the Louvre and thus, proving the saying that McDonald’s everywhere, even if it’s a Museum.