TITLE

Everything I Know About Business I Learned at McDonald's

AUTHOR(S)
Facella, Paul
PUB. DATE
April 2010
SOURCE
Everything I Know About Business I Learned at McDonald's - Busin;4/21/2010, Vol. 1 Issue 1, p1
SOURCE TYPE
Book Summary
DOC. TYPE
Book summary
ABSTRACT
Paul Facella’s Everything I Know About Business I Learned at McDonald’s is an overview of his 34-year career with the fast food giant. In it he provides advice and guidance for achieving success and managing people, and shares his conversations with many of the McDonald’s executives and employees who were interviewed for the book. Many of his recommendations are based on the principles of business conduct and the code of values espoused by McDonald’s founders Ray Kroc and Fred Turner. These principles are categorized as: honesty and integrity, courage, relationships, recognition, communications, and leading by example. The founders advocated a system of honesty and integrity where all stakeholders could expect fairness. Their number one commitment was delivering quality, service, and cleanliness (QSC) to the customer, and they succeeded in building one of the most successful companies in the world. Successful employees at McDonald’s look for ways to exceed expectations, beat yesterday’s sales, cut energy expenses, increase customer counts, and lower costs to the stores. McDonald’s sets quality standards for every task which are clearly articulated. Organizations that push for continued excellence are likely to improve profit margins while boosting their reputations among loyal customers, employees, and vendors. Effective managers lead by example, continuously training, evaluating, and correcting performance. True leaders are visible, active, and side by side with their staff. Effective communications ensure that everyone in the company knows and understands the mission, goals, and objectives. That McDonald’s is one of the most recognized brands in the world is a tribute to the company’s success in communicating with consumers. The company believes that people thrive on recognition when they feel that their contributions make a difference. Awards programs do not have to be expensive, but should show gratitude and respect, inspire loyalty, and bring out the best in people.
ACCESSION #
49497727

 

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