MGT 312 Decision Making And Problem Solving First Semester 2

Question

Mgt 312 Decision Making Problem Solvingfirst Semester 2018 19assignme Read the passage carefully and answer the questions: McDonald’s is a well-known fast-food brand in the UK. It operates at over 3000 locations and has seen growth over the past 10 year (McDonald’s Annual Report, 2014). However, recently, McDonald’s across the globe and in the UK highlighted a consistent decline in sales. Millington (2014) states that McDonald’s has reported a drop in sales by 4% in the UK, which highlight that the firm is not on the same growth path as it used to be. Similar article was published by Bold (2015) where the author highlighted that the growth pattern of McDonald’s has stopped and the firm, for the first time in 45 years, is re-structuring due to a rapid decline in sales. This is critical for a firm that operates at a global scale, a 4% drop is effectively billions of dollars that the firm is unable to convert. Neilan (2014) states that from an earnings point of view the overall decline is GBP 3.8 billion which is a significant number. Questions: Q1. How you can solve the problem? Use the critical thinking steps [Marks 3] [LO: 2.7, 2.3] Q2. Develop a mind-map for McDonald to solve the problem. [Marks 2] [LO: 4.3, 3.1]

Dr. Jack HW Helper · Accepted Answer

Addressing the decline in sales experienced by McDonald’s requires a structured approach rooted in critical thinking principles. Critical thinking involves systematically analyzing a problem, exploring its causes, and devising effective strategies to resolve it. In this context, the primary goal is to identify the root causes of the sales slump and formulate targeted solutions considering internal and external factors. Understanding the Problem The initial step in solving McDonald’s sales decline involves clearly defining the problem. The reported 4% decrease in UK sales and the global restructuring indicate that external market changes and internal strategic issues may be contributing factors. Recognizing that this is a large-scale issue impacting billions in revenue underscores the importance of a comprehensive analysis. Gathering Data and Analyzing Causes Critical thinkers collect relevant information—such as customer preferences, market trends, competing brands, menu offerings, pricing strategies, and operational efficiencies. For McDonald’s, external factors like changing consumer tastes towards healthier options, increased competition from fast-casual restaurants, and economic fluctuations play significant roles. Internally, issues such as menu relevance, customer engagement, and service quality could be influencing sales declines. Generating Potential Solutions After understanding root causes, the next step involves brainstorming possible strategies. These could include menu innovation to cater to health-conscious consumers, revamping marketing campaigns, enhancing customer experience with technology, and exploring new locations or delivery services. Prioritizing initiatives based on feasibility and potential impact is essential. Evaluating and Selecting Best Solutions This involves weighing the advantages and disadvantages of each solution, considering costs, implementation timeline, and expected outcomes. For McDonald’s, adopting a tailored approach that co

MGT 312 Decision Making And Problem Solving First Semester 2

Mgt 312 Decision Making Problem Solvingfirst Semester 2018 19assignme

Questions:

Paper For Above instruction

Understanding the Problem

Gathering Data and Analyzing Causes

Generating Potential Solutions

Evaluating and Selecting Best Solutions

Implementing and Monitoring

Conclusion

Developing a Mind-Map for McDonald’s Problem-Solving

References