¶ … decisions a small business owner. Since microeconomics study individual households, firms, government, a closer operations a franchise firm. . You select ONE firm a list Entrepreneur magazine: http://www.
Microeconomics
McDonald's is one of the most popular franchises across the globe. The firm represents the epitome of corporate success, but it is also an emblem of the American way of life. The fast food industry is an important segment of the current life style, of working women, busy schedules and less time for traditional eating.
Part of the success registered by McDonald's is represented by the business model selected by the firm. Specifically, the fast food giant operates through franchises, meaning that its stores are operated by tertiary parties, under the emblem of McDonald's, but with shared risk, resource consumption and profitability.
In order to better assess the company, it is useful to approach it through the lenses of the three fundamental questions of economics:
What is being produced?
How are the items being produced? And last
Who consumes the produced items?
a) What is being produced?
McDonald's produces and sells a wide array of foods products, including sandwiches, ice creams, salads or beverages. Some of these items are wholly produced by the firm, whereas others are purchased and resold. The most relevant example of resold items is represented by the beverages,...
Subway Restaurants Small Business- Subway Restaurants Amidst the depths of the Great Recession, one restaurant chain managed to grow their revenues and bottom line with a unique marketing concept created by a franchise owner. The now famous "Five Dollar Foot Long" was launched by a Stuart Frankel, a Miami Subway Franchise owner, and is "a national phenomenon that has turbocharged Subway's performance" (Boyle, M. November 5, 2009). Subway restaurants with 2010 revenues
Subway Economic Analysis Subway Corporation: Economic Business Analysis Subway Corporation: Economic Business Analysis Why Subway? Microeconomics centers on the study of the economic makeup of individual households, firms, and government. As franchise firms fall into this category, it is clear that small business owners, such as franchise owners, face the day-to-day task of dealing with many economic decisions in order to keep their businesses both functional and successful in order to turn a profit. One
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McDonalds The firm I chose is McDonalds, and I chose this company for a few different reasons. The first reason is that this is the top franchise operator in the world, and one might as well learn from what the best do. McDonalds basically invented the modern franchise, back in 1955, and over time have perfected the concept. The second reason is that there is a wealth of information available. Some
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