The free enterprise system was critical in both the early and current stages of Ray Kroc's restaurant-- McDonald's. Free enterprise works on five main ideals: freedom to choose our business, the right to private property, competition, profit motive and consumer sovereignty. These five ideals, or principles, assisted Ray Kroc in creating one of the most well-known restaurant chains in the world.
Ray Kroc was not the original founder of McDonald's. He was, though, the one who made the restaurant the national success that it was. Mac and Dick McDonald began their restaurant as a BBQ place, but soon after became famous for their 15 cent hamburgers. After expressing a want to become a nation-wide business to Kroc, the brothers …show more content…
This is not true in the case of McDonald’s. This restaurant does not offer many items that small restaurants may, such as chicken strips, mashed potatoes, or vegetable platters. Small town restaurants must take into account that they can serve things that big corporations cannot, thus they have an edge as well. Everyone knows the name of McDonald’s, so how do small, unknown restaurants compete?
Naming is critical in getting consumer attention. Small restaurants believe that they will not get as much recognition as bigger chains will. This is easily solved by being active in the community, offering an equal, if not better, product, and generally competing with other restaurants. The purpose of free enterprise is to give everyone a chance to be successful. Free enterprise does exactly this, but restaurants, stores, and general business have to understand that they must compete to be successful.
Free enterprise was a key part of Ray Kroc’s, and subsequently McDonald’s, success. McDonald’s had humble beginnings, but with the help of a smart entrepreneur and the free enterprise system, McDonald's became the huge success that it is today. Despite some individual’s belief that free enterprise crushes smaller businesses, it offers an equal chance for everyone to be as successful as Ray
Ray Kroc was not the original founder of McDonald's. He was, though, the one who made the restaurant the national success that it was. Mac and Dick McDonald began their restaurant as a BBQ place, but soon after became famous for their 15 cent hamburgers. After expressing a want to become a nation-wide business to Kroc, the brothers …show more content…
This is not true in the case of McDonald’s. This restaurant does not offer many items that small restaurants may, such as chicken strips, mashed potatoes, or vegetable platters. Small town restaurants must take into account that they can serve things that big corporations cannot, thus they have an edge as well. Everyone knows the name of McDonald’s, so how do small, unknown restaurants compete?
Naming is critical in getting consumer attention. Small restaurants believe that they will not get as much recognition as bigger chains will. This is easily solved by being active in the community, offering an equal, if not better, product, and generally competing with other restaurants. The purpose of free enterprise is to give everyone a chance to be successful. Free enterprise does exactly this, but restaurants, stores, and general business have to understand that they must compete to be successful.
Free enterprise was a key part of Ray Kroc’s, and subsequently McDonald’s, success. McDonald’s had humble beginnings, but with the help of a smart entrepreneur and the free enterprise system, McDonald's became the huge success that it is today. Despite some individual’s belief that free enterprise crushes smaller businesses, it offers an equal chance for everyone to be as successful as Ray