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ABSTRACT
McDonald's Corporation the world's largest chain of Fast food restaurants a symbol of globalisation founded by Ray Krock serves around 68 million customers daily in 119 countries. A multinational company, McDonald's manufactures products in many countries and sells them around the world. The company's success can be attributed to Glocalization(Globalization + Localization) where the company has its standardisation with a certain degree of localization suiting the cultural needs of the customer. A McDonald's restaurant is operated by a franchisee, an affiliate, or the corporation itself. The company primarily sold hamburgers, cheeseburgers, chicken burgers, French fries, breakfast items, soft drinks, milk shakes and desserts. The company introduces new products and expands the menu according to the changing taste and preferences of the customers. McDonald's initiates development of products and services to adapt to different locales to ensure its global brand, which improves global economy. McDonald's is a clear sign of globalization and it existence is proved everywhere we go, be it in Europe, Asia or America, there will always be a McDonald's store around every corner! In this article we study in detail theentry of McDonald's into India, Glocalization, Price reduction strategies adopted to bring in Branded Affordability, the efficient supply chain, operations, critical success strategies, Innovation, sustainability and Growth Plans. The uniqueness of McDonald's leading to its success is also discussed.
Introduction
The main purpose of this work is to present a detail insight into the success story of McDonalds in India. It was as early as 1989 even before the New Industrial Policy of 1991 was introduced the International Team of McDonalds visited India to identify opportunities for entry into a highly traditional and conservative market. As the company was in the process of researching and devising entry strategies the Government of India announced the New Industrial policy of 1991. This paved way for the company and there was a need to fasten its efforts to develop its entry plan into India. During 1991 to 1992 the company had set up a specialised team to understand the regulatory issues pertain to FDI in India. The FDI for this fast food restaurant chain was possible through a Joint venture with two companies in 1994. The market for the West was targeted through...