•from the E-Activity, Evaluate the Situation of the Organization You Researched. Create a Program Outlining Steps the Organization Might Take to Build Better Public Relations.
Bus 508: Contemporary Business
November 4, 2013
Companies that sell a product must have a strategy for product growth. Implementing growth strategies will improve a company’s business during challenges of consumers changing demands. Consumers behavior can and will dictate a company’s diversification strategies as well as overall success. Well planned diversification strategies are very essential for a successful company in today’s rapidly growing society.
Diversification strategies help companies maintain a steady income during economic recessions. Successful companies find ways to expand using …show more content…
McDonald’s core business is fast food, fast service with consistent quality at every location. The company’s core business has produced billions in global sales and net income over the years and has proven to be a reason for success. The company’s success can be seen as going back to the basics of their core objective. The move would be a market departure from the firm’s diversification strategies of “banking on Boston Market and Chipotle Grill restaurants to obtain better future growth opportunities in the mature fast-food market” (www.forbes.com). Although this diversification strategy didn’t pay off for McDonald’s it allowed them opportunity to focus on their core business. Moreover, it took them back to the basics of what they started the brand/company with.
The company found themselves on the chopping block with their expansion and use