A restaurant chain Essay Example | Topics and Well Written Essays - 1500 words

A restaurant chain - Essay Example Another important source of its revenue includes profits earned from its operated restaurants. In the year 2011, the company was able to make a profit of 5.5 billion dollars, and this amounted to annual revenue of 27.5 billion dollars2. The primary business line of McDonalds includes cheeseburgers, milkshakes, desserts, soft drinks, French fries, cheeseburgers, etc. Recently, the business performance of McDonalds has been falling down, reporting a negative growth in its markets, and revenues. For example, in the year 2014, the business performance of McDonalds in Europe and America experienced a slow down3. In Europe, the company posted a negative drop of its financial performance by 1.4%. This is despite depicting a strong financial performance in its UK market. In United States, the company was able to post a drop of its sales by 1%. Another problem facing this company is its weak and inefficient customer service capability4. The company employees are not good at catering for the needs of its customers, and this has an impact in affect the loyalty of the customers towards the business organization. In any organization, employees of the company play an important role in determining whether the company will succeed or not. An efficient and friendly workforce would ensure that they are able to know and serve the needs of its customers, and this is the key to increasing the market share of an organization5. For purposes of improving its financial performance, the management of the company has to solve the above mentioned problems. There are two major methods that the company can use to solve the mentioned problems, and they include, improving its marketing strategy and its customer service capability. However, the company cannot develop an efficient marketing strategy, without having information on the strategies of their competitors, and the needs of its customers. This would therefore force the company to