McDonald's Corporation

McDonald's Corporation

Company type	Public
Industry	Fast food
Founded	1940 (1940-)
Founders	Richard and Maurice McDonald, Ray Kroc
Area served	Worldwide
Key people	Chris Kempczinski (President and CEO)
Products	Hamburgers, chicken, french fries, soft drinks, milkshakes, salads, desserts, coffee, breakfast
Revenue	US$ 21.076 billion (2020)
Number of employees	205,000 (2020)

McDonald's Corporation is an American multinational fast food company, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechristened their business as a hamburger stand, and later turned the company into a franchise, with the Golden Arches logo being introduced in 1953 at a location in Phoenix, Arizona. In 1955, Ray Kroc, a businessman, joined the company as a franchise agent and proceeded to purchase the chain from the McDonald brothers. McDonald's had its original headquarters in Oak Brook, Illinois, but moved its global headquarters to Chicago in June 2018.

History

The history of McDonald's dates back to 1940, when the McDonald brothers opened their first restaurant. McDonald's became a popular franchise following Ray Kroc's involvement, who helped expand the company globally. The success of McDonald's can be attributed to its adaptation of the franchise model, extensive operational focus, and international expansion.

Menu

The McDonald's menu primarily includes hamburgers, chicken products, French fries, breakfast items, soft drinks, milkshakes, and desserts. Over the years, the menu has expanded to include salads, fish, smoothies, and fruit. The company has also adapted its menu to include local tastes and preferences in various regions.

Business Model

The business model of McDonald's is based on selling a high volume of low-cost items. McDonald's primarily generates revenue through company-owned restaurants, franchise royalties, and licensing pacts. The company's focus on consistent quality, fast service, and affordable prices has made it one of the most successful fast-food chains in the world.

Cultural Impact

McDonald's has had a significant cultural impact on food industry practices and popular culture. It is often seen as a symbol of American capitalism and globalization. The term "McDonaldization" has been used to describe the company's approach to business and culture, characterized by efficiency, calculability, predictability, and control.

Criticism and Controversies

McDonald's has faced various criticisms and controversies, including concerns about environmental impact, health effects, employee wages, and working conditions. The company has made efforts to address these issues by introducing healthier food options and sustainability practices.

See Also

• Fast food restaurant
• Hamburger
• List of hamburger restaurants