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This assignment requires students to work in teams of up to 4 students assigned by the unit lecturer. the unit lecturer has responsibility over the formation, functions, roles and Output Of the teams to ensure that the ground rules are followed for a successful team outcome.
Student teams will pick a well-known company. NO two teams may choose the same company (so get in Quick). Students are to apply one Of Fayol’s 4 Functions to their chosen company. Has the company utilized the function efficiently and effectively? Students are to find examples of past behavior that strengthen their point of view. The presentation is a critical, focused, discussion: material must relate to the chosen function. Students are encouraged to dig deep when researching their company Journals, websites, newspapers, annual reports and news agencies could all be researched (HINT: Stay objective, don’t necessarily believe everything the company says about itself. Find creditable sources: ask your lecturer if you are unsure).
There are four basic functions, which make up the entire management process across the industries. These are planning, organising, directing or commanding and coordinating identified by Henry Fayol (Alexander, 2010). In this regard, the current assignment has considered the renowned fast-food retailing restaurant chain, McDonald’s in the world. In this regard, the present report would focus on one of the four vital functions of Fayol for McDonald’s, which is planning. Furthermore, it would also assess whether this company has used this function effectively and efficiently or not.
1. Application of Planning, one of Fayol's 4 functions to the chosen company, McDonald's:
McDonald’s represent all four basic functions of Fayol for management and the basic principles which help to run its fast-food restaurant chain successfully. In this regard, the focus is largely putting on the planning part of this organisation. According to the view of Bijlsma and Van de Bunt (2013), planning is about deciding to where a company can be taken by selecting relevant steps for getting there. Hence, the managers need to require becoming aware first about the challenges which the business is facing. This requires the managers for planning the economic conditions and the future business (Taylor, 2008). Then only, the objectives can be formulated for reaching to few deadlines and deciding regarding steps for reaching to those. As per the conditions change, the plans should be re-evaluated. Planning also helps to forecast the necessary resources (Blazey, 2011). The McDonald’s restaurant can always respond quickly to its demands in case of peak hours also because of which customers prefer to go to this restaurant often. Keeping in mind the basic function of Fayol, McDonald’s put vital significance on product planning. The product planning is involved with this organisation for introducing new product always to the McDonald’s menu. According to Broderick and Pearce (2014), each company is needed to introduce always new products to retain and attract customers. The future of the company is also shaped by new product development. Therefore, product planning is considered to be a very systematic decision making aspect for the management and development of McDonald’s products. Keeping the focus on the proper utilisation of product through the planning activity, McDonald’s keeps on adding a few new products in its menu for accumulating choices and needs of the customers.
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