Founded in California, US in 1940 by two partners, McDonald’s Corporation is the largest restaurant chain in the world. It began as a hamburger stand, and over the decades has experienced steady growth. It is now a global brand with over 35,000 restaurants in over 100 countries. The restaurant’s popularity is attributed to its affordable and wide variety of food, fast service, and consistently good products. However, this has not always been the case. At the beginning of the 21st century, McDonald’s rating deteriorated drastically due to poor service and inconsistent food quality. There were also changes in customers’ attitudes towards unhealthy food. Additionally, the economy was struggling and there was intense rivalry in the fast-food industry, which made McDonald’s products seem overpriced. Essentially, McDonald’s executed a successful turnaround strategy in order to regain its popularity, and ultimately its profitability.
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