Consider these definitions about business model. “A company’s business model sets forth how its strategy and operating approaches will create value for customers, while generating ample revenues to cover costs and realize a profit. The two elements of a company’s business model are its (1) customer value proposition and (2) its profit formula.”
1. Read and watch both McDonald’s articles (watch the embedded video from The Founder)
https://www.eatthis.com/big-changes-new-mcdonalds/
&
https://1851franchise.com/why-is-mcdonalds-considered-a-real-estate-company-2715077#stories (watch the embedded video from The Founder)
Respond to the following prompts:
- Identify McDonald’s Business Model using the definitions mentioned above.
- Identify the functional activities that previously enabled McDonald’s to be efficient while offering reliable quality service.
- What factors negatively impacted McDonald’s ability to continue doing so?
- What do you think of the new strategies McDonald’s is planning?
2. Evaluate McDonald’s using the VRIO framework with at least 2 resources and 1 capability that underlies McDonald’s competitive position. Make sure you apply the VRIO framework separately to each of the three resources.
Please write it in 200 words.