ii. Operational Objectives:
The second key objective of the company encompasses its aim to become operationally stronger and unbeatable in the long run. McDonald's is currently the market leader in the global fast food industry due to various competitive advantages and core competencies: including extensive R&D, quality management, efficient manufacturing capabilities, strong supply chain and distribution network, excellent customer services, etc. All these competitive advantages and strengths are focused on achieving its operational objectives (Hitt, Ireland, & Hoskisson, 2011). By achieving these objectives, McDonald's aims to prove itself as the most competitive fast food brand which is always the first choice of customers.
iii. Human Resource Objectives:
McDonald's has employed around 1.7 million employees in its production plants, regional offices, restaurants, and the Headquarters (McDonald's, 2013). It considers these employees as the most valuable resource for its business. Therefore, its five key objectives also constitute the human resource aspects of the business. McDonald's has also expressed its true concern for these employees in its mission statement and corporate values. The human resource objective of McDonald's is to develop the most efficient workforce that can contribute towards its success and competitiveness in every possible way. The corporate values of McDonald's emphasize on cultural diversity and equal employment opportunities, employee rights, strong organizational culture, competitive advantage through human resources, and strong industrial relations.
iv. Corporate...
Thus, the fourth key objective of the company is to become a socially and environmentally responsible corporate entity by making financial, personal, and social contributions in various types of projects which are aimed at improving the social life of people in under-privileged areas in the world (McDonald's, 2013). For this purpose, McDonald's makes heavy financial contributions in educational, environmental protection, health and safety, and other social welfare projects (About McDonald's, 2011). All these efforts are ultimately beneficial for strengthening the public image and achieving a sustainable future in the industry (Thompson & Martin, 2010).
v. Supply Chain Objectives:
The supply chain of McDonald's includes raw material suppliers, distributors, business developers, associates, and partners that make it possible for McDonald's to manufacture top quality products and deliver them to the ultimate consumers in the most effective and efficient way. The fifth key objective of McDonald's is to build and maintain strong relationships with all the primary and secondary supply chain members. These strong relationships are helpful in staying competitive and profitable in the long run (Hill & Jones, 2012).
How Five Key Objectives support the Mission and Vision Statements?
All the five key objectives are focused on making the company stronger, more competitive, and the most favorite fast food brand in the eyes of its customers. The financial, human, supply chain and operational objectives of the company show that it aims to strengthen itself in all the major operational and functional areas which can give it a competitive advantage in the industry. These areas are also emphasizes in the mission, vision, and corporate values of the company. Similarly, the corporate social responsibility efforts of McDonald's support its mission statement which also emphasize on achieving sustainability and winning stakeholders' trust and confidence.
References
About McDonald's, (2011). Sustainability Scorecard. Retrieved on July 7th, 2013, from
Hill, C.W., & Jones, G.R. (2012). Strategic Management Theory, 10th Edition. Mason, OH: South-Western, Cengage Learning
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2011). Strategic Management: Competitiveness & Globalization - Concepts, 9th Edition. Mason, OH: South-Western Cengage Learning
McDonald's, (2013). Our Story. Retrieved on July 7th, 2013, from
Thompson, J.L., & Martin, F. 2010, Strategic Management, 6th Edition. Andover: Cengage Learning, 2010.
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