Question

What is the best business practice McDonalds has implemented and what are the reasons for this implementation?

Answer 1

The best business practice McDonald's has implemented is the McDonald's generic strategy that has helped McDonald's grow in the competitive world. McDonald's generic strategy is about cost leadership that involves minimizing cost to offer products to customers at low prices. The plan has worked best for McDonald's as McDonald's is a known fast-food restaurant, and to determine the customers lower costs always help the business. Besides this, McDonald's also uses an intensive growth strategy to expand and develop business continuously. The reason to implement a generic strategy defines companies oral business approach and give a fierce competition. McDonald's offers products and services that are quite cheaper as compared to its competitors. Furthermore, McDonald's also uses supporting a generic strategy that helps its products to make a distinct impact on customers than its competitors, such as McCafe products.