...Big Mac Meal, Big Mess Jordan Jasnoch, Devyn Kennedy, Ashley Hoffer, Cheyenne Hanson The large, glowing “M” in the distance beckons me forward as I head into McDonalds, a strange land of food that smells of oil, grease, sweat, and meat. The clambering of people all around me blurs into one indistinguishable chorus of noise. I ignore this as I sit down in a cold, leathery cushion to enjoy my meal. I start as always with the Big Mac, a dripping monster that is barely kept together by the buns that house the contents. The sight strikes me as odd as it is nothing like was advertised, but instead is pathetic, wet, and seems to be like that of a sad old man awaiting death. With the first bite I notice immediately an explosion of flavors that offend me to no end, such as the bitter “secret sauce.” Towers of pickles add to this bitterness, while processed meat so horrid that it could only have come from a clinically depressed cow puts on a parade of disgust and disappointment in my mouth. Within moments, the nauseating smell of said “secret sauce” fills my nostrils. The world’s largest fast food chain hasn’t kept this sauce much of a secret. Consumers can easily find that it is made of straightforward ingredients such as store bought mayonnaise, pickle relish, onion powder, yellow mustard, white vinegar, garlic powder, and paprika. Certainly not the palate of kings, this repulsive sauce has the consistency of dog vomit and I am rather sickened as the vile substance drips down my...
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...The Big Mac index was introduced in the Economist in 1986. Ng Yat-chiu created it the Chief Executive Officer of McDonald's Restaurant of Hong Kong. The Economist publishes it annually as an informal way of measuring the purchasing power parity (PPP) between different countries. “The value of the Big Mac Index is in understanding that price differences are not sustainable in the long-term. Exchange rates will eventually have to more closely equalize price differences, or the law of supply and demand will take over. Of Course nobody is going to import Big Macs from China to the United States because they are so cheap, but if Big Macs are so cheap, so are other products, and trade flows could be influenced by price differences.” “UBS Wealth Management Research has expanded the idea of the Big Mac index to include the amount of time that an average worker in a given country must work to earn enough to buy a Big Mac. The working-time based Big Mac index might give a more realistic view of the purchasing power of the average worker, as it takes into account more factors, such as local wages.” The most expensive country to buy a Big Mac is in Norway where the costs is $5.79 and the cheapest is in Malaysia $1.52. Prices of the Big Mac are affected by other factors such as taxes. Countries especially those in Europe that have higher taxes will have higher prices than countries with lower taxes. The prices are also affected by nontrade costs, such as rent and insurance. Lastly profit...
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...------------------------------------------------- BIG MAC'S MCGLOBAL HR SECRETS ListenSelect: HR Lessons in Operating Globally McDonald's recipe for global success is translating its winning people and employment practices into many different cultural settings. Its way of careful planning is a lesson for every business. It's no small potatoes. McDonald's International, that is. Cooking up its first international revenues m 1967 with restaurants in Canada and Puerto Rico, McDonald's now serves up a fast-food extravaganza ranging from soup to nuts (or nuggets, in this case) in 18,380 restaurants in 91 countries. Total revenue for 1995 was more than $10 billion, and total sales outside the United States contributed 54% to the firm's consolidated operating income for the year. This is an organization that knows how to grow globally. Each day, more than 33 million people around the world are gobbling down McNuggets and Big Macs faster than you can say: "two all-beef patties special sauce lettuce cheese pickles onions on a sesame seed bun." And they're served by more than one million employees, with estimates that the number will double by the year 2000. It's a company that reveres flexibility and sensitivity to local cultural mores. You may think that translates into flavoring the burgers a little differently from country to country, but the company's global astuteness is much more far-reaching and profound. For a business, in the minds of Americans, that's synonymous with...
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...Atomic Bomb Debate During the final stages of World War Two in 1945 the United States conducted two atomic bombings against the cities of Hiroshima and Nagasaki in Japan, the first on August 6, 1945, and the second on August 9, 1945. For six months, the United States had made use of intense strategic fire-bombing of 67 Japanese cities. Together with the United Kingdom and the Republic of China, the United States called for a surrender of Japan in the Potsdam Declaration on July 26, 1945. The Japanese government ignored this ultimatum. By executive order of President Harry S. Truman, the U.S. dropped the nuclear weapon "Little Boy" on the city of Hiroshima on Monday, August 6, 1945, followed by the detonation of "Fat Man" over Nagasaki on August 9. I don’t think that they should have dropped the second one due to the fact, the Japanese wanted to surrender after the first bomb dropped. The United Sates was the first to use such a deadly weapon. It was immoral to drop the second one. It harmed several innocent civilians. Hiroshima was the primary target of the first nuclear bombing mission with Kokura and Nagasaki being alternative targets. About an hour before the bombing, Japanese early warning radar detected the approach of some American aircraft headed for the southern part of Japan. An alert was given and radio broadcasting stopped in many cities, among them Hiroshima. To conserve fuel and aircraft, the Japanese had decided not to intercept small formations. The normal...
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...FIN30014 Financial Risk Management Topic Outline, Reading and Tutorial Questions Semester 2, 2015 ------------------------------------------------- Topic 1: Introduction to Derivatives and Financial Risk Management ------------------------------------------------- Mechanics of Futures Markets Topic Outline * Financial risk management – an overview * The nature of derivatives and their uses for financial risk management * Futures exchanges and futures contracts * Over-the-counter markets and forward contracts * Uses of derivative contracts markets: Hedging, Speculation and Arbitrage * The mechanics of futures markets * opening and closing futures positions * the operation of margins on futures contracts * the role of the “Clearing House” * Futures contracts compared with forward contracts Essential Reading: Hull (2014) Chs. 1 & 2 Additional Reading: Viney, Ch 18, pp. 604 – 613; Ch 19, pp 636-648 Web Resources (Refer to the “External Links” tab on Blackboard) * Financial Pipeline: Derivatives Self-test Quiz Questions Hull Ch. 1: 1.2, 1.4, 1.7 Hull Ch. 2: 2.3, 2.4 (ignore tax questions), 2.5 Tutorial Questions Hull Ch. 1: 1.10, 1.11, 1.12, 1.18, 1.20, 1.21, 1.33 Hull Ch. 2: 2.10, 2.14, 2.16, 2.18, 2.25, 2.26, 2.28 Additional Questions 1. Suppose that on Jan. 4, 2011, an investor...
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...Ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy yo yo yo yo yo yo yo yo yo yo big mac daddy in the house yeah buddy big mac daddy daddy boy get on my level becuz im mac daddy, this aint to real essay homie you know that. This gotta be 250 so imma copy and paste this til I get 250 Ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy yo yo yo yo yo yo yo yo yo yo big mac daddy in the house yeah buddy big mac daddy daddy boy get on my level becuz im mac daddy, this aint to real essay homie you know that. This gotta be 250 so imma copy and paste this til I get 250 Ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy yo yo yo yo yo yo yo yo yo yo big mac daddy in the house yeah buddy big mac daddy daddy boy get on my level becuz im mac daddy, this aint to real essay homie you know that. This gotta be 250 so imma copy and paste this til I get 250 Homey I copy pasted this twice and im only at 232, so imma do it one more time. Ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy ay yo im mac daddy yo yo yo yo yo yo yo yo yo yo big mac daddy in the house yeah buddy big mac daddy daddy boy get on my level becuz im mac daddy, this aint to real essay homie you know that. This gotta be 250 so imma copy and paste this til I get 250 Yeah homey now we at 323, itz mac...
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...the Al and begin to wonder where they should eat. But the question is answered for them almost as soon as it has arisen, for at the bottom of the exit ramp is a familiar sign, a gold arch on a red background – ‘McDonald’s – Straight Ahead One Mile’. McDonald’s! Hamburgers! French fries! ‘Let’s eat at McDonald’s!’ Paul suggests. ‘We can’t see anywhere else to go, and at least we know what their food is like’. ‘Sure’ Emma agrees. ‘I could just eat a cheeseburger...or maybe even a Big Mac!’. About a mile further on is a large shopping centre, and at the far ends of its car park the golden arches of McDonald’s are plainly visible. Paul and Emma enter the restaurant, walk down the centre aisle between uniform rows of spotlessly clean tables, and examine the menu that is posted behind and above the service counter. Exactly the same menu as the one back home! They quickly decide what to have and approach the counter. ‘Can I take your order, please?’ inquires the crew member, smiling at them. ‘Two Big Mac meals with Diet Coke, to go please’. ‘Is that large?’ she replies. The order is placed using pre-programmed shortcuts on the till. ‘Is that everything, sir?’ she asks. Paul looks at his wife, who shakes her head. ‘Er, no. Thanks anyway’. The crew member totals up the sale and states the amount in a clear voice. Paul gives her a ten-pound note. ‘Ten pounds,’ she says, counting out the correct change and giving it to Paul before putting the note in her cash drawer. Change...
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...Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happend to a.) Your firm's costs of production? explain. b.) The price you can charge for your remodeling services? Why? C.) Profits in home remodeling. Why? a.) The firms cost of production will increase. The home remodeling industry is an increasing-cost industry, therefore the costs associated with inputs will increase, and the demand for these inputs will increase as well. b.) As input prices increases, prices will also increase as well in an attempt to balance out the expenses being incurred by the firm. c.) Profits will decrease as competition keeps the prices low, and input prices consistently increase. Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the same market will increase market power. A hearing is scheduled for your company to present arguments that your firm has not increased its market power trough this merger. Can you do this? How? What evidence might you bring to the hearing? a.) There are several things that you could present to the Federal Trade Commission in order to prove that the merger between the two firms is legal and not a monopoly. If the two firms have minor market power then you can prove that the merger will not...
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...about product development, third is about market development and lastly is diversification. Mc Donald’s product/market expansion grids are as follows: Market penetration Marketing efforts of the company to offer their existing product in the current market is called market penetration strategy. This strategy is when the company is looking to adapt for increasing their sales and profits. The best way to do this is to attract the competitor’s customer and looking for potential customer for the existing products. There are three major way to increasing current product market share which are encourage current customer to buy more, attract competitor’s customer, and convince non-user to use the products. McDonald’s current products are Big Mac, Grilled chicken Foldovers, Quarter Pounder, Beverages, and others. As for their current market, they have students, working professionals and also families. In order to increase their market, Mc Donald’s collaborate with institutes and universities for opening an outlet at campuses, easily accessible places and commercial area. Besides that, McDonald’s also invest on advertisement, vouchers, and coupons. McDonald’s advertisements are also creative to attract the non-user product to buy their products. Another example is, in summer, McDonald’s offer soft drinks no matter what size, for $1. The company would like their locations to become a destination of...
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...The similarities that I found in product offerings around the world would be that they put their classic burgers in all the menus around the world. For example, the McChicken sandwich, the Big Mac, nugget, fries, and all the classic food. Canada, Australia, and the United States have the same Monopoly promotion. After looking through different countries for McDonalds, I felt like I found a lot more differences then similarities. The whole menu changes in every different country, they make recipes that represent or famous in that country. For example, in Italy, they make pasta, a burger that they call NYCRISPY which represent New York City but even in New York they don’t have that burger. In Lebanon and all Arab countries, they have McArabia, they have so many different options for that burger that is famous and people love in Lebanon. Also, the most interesting thing is that they have McDelivery in Lebanon. I don’t think we’ll ever see that here because McDonald’s here is way cheaper and I don’t think it would be worth it. Also, after doing a lot of research, I didn’t see countries that has the dollar menu. Most of the meals are way more expensive then here. Pricing was a big difference too, in my opinion they change prices based on how much they know the country that would purchase their product even when it cost as if you’re going to a restaurant and especially it’s an American company so people wouldn’t mind it. From personal experience, I know how people in my country (Lebanon)...
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...community. Observe your subject closely, and then present what you have learned in a way that both informs and engages History of mcdonalds McDonald is the world famous fast food restaurant. The idea of McDonald’s was introduced by two brothers Mac (Maurice) and Dick (Richard) McDonald in California. Their father Patrick McDonald in 1937 was having a hot dog cottage called as Airdrome restaurant near the airport. In 1940 the restaurant was renamed as McDonald’s Famous Barbeque. In 1940 both brothers came to a conclusion that most of their profit comes from selling hamburger so they made their menu very simple by selling only Hamburger, cheeseburger, soft drinks French fries and apple pie.in 1954 a turning point came in McDonald’s brother history. Ray Kroc a seller of Multitier milkshake visited McDonald and he liked the idea of McDonald. McDonalds corporation was built in those times and as a result Kroc started expanding their business by opening franchises for mcdonalds.1960 McDonald’s advertising campaign “look for the golden arches” gave McDonald’s sale a big boost.1965 McDonald corporation went public.in 1968 McDonald open its 1000th restaurant.1974 McDonalds started their business in UK and Newzealand.in 1980 McDonalds was facing very big competition from its rival Burger King and Wendy but McDonald with its innovation was experiencing boost in its sales.in early and mid-nineties McDonalds was having decline in their sales and as a result they start improving their business...
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...The product can differ from country to country if a company chooses to adapt its product to local tastes or to create a new product specifically for local tastes. Thus, Starbucks introduced a green tea Frappuccino in China.When going abroad, it is important for a business to realize that there are differences in international markets. While McDonald's is consistently recognizable around the world, the company alters its menu slightly in every market. In the Netherlands, McDonald's offers a specialty called the McKroket, in parts of Canada the chain serves a dish known as poutine and in India McDonald's offers a beef-free version of the Big Mac called the Maharaja Mac. This strategy allows McDonald's to maintain an international brand and offer local foods that people want. Since its founding in the 1940s, IKEA has grown to be one of the world’s largest furniture retailers, selling a typically Swedish mix of products in every country in which it does business. IKEA’s international expansion began in 1974, and today the firm generates only eight percent of its sales in Sweden. IKEA products are known for their European stylishness and their good value for money. Their sales volume gives the firm high economies of scale and volume discounts from suppliers. However, when the firm entered the North American market in 1985, the stores were not immediately profitable. American tastes differed significantly from Swedish preference ssuch as in the size of beds, drinking glasses, dresser...
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...The higher the printer usage the more ink is consumed. Also, the free marketplace gives manufacturers the ability to create or produce goods or services serving the same purposes. This now creates a competitive market that is beneficial to the consumer. Economist use terms such as complements and substitutes to explain these policies. Substitutes A substitute product or service is basically another product or services that could be used for the same purpose (Economics Help, 2013). Usually a substitute product is less expensive thus creating a positive elasticity into the market. With the price increase of a product, the substitute product will become more appealing to the consumer. Colander (2013) compared the Big Mac and the Whopper, when the price of the Big Mac goes up people shift to the Whopper as a substitute product. An economic substitute applies to the sports world also, when a team tries to hire a high profile player. The team will find a substitute player if the budget cannot afford the high profile player. The chosen player will not be as good as the high profiled player but he will do the job. Depending on the price consumers will substitute one food product for another, if pork is cheaper than chicken or vice versa, consumers will purchase the cheapest product. Depending on the price, quantity, and demand of...
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...Burger King to McDonald’s: Let’s Make a ‘McWhopper’ On today August 26, 2015, Burger King made a peace offering to its known archrival McDonalds. Via social media (twitter) and two of the U.S. biggest newspapers (NY Times & Chicago Tribune) The Burger King has asked Ronald McDonald to #SettleTheBeef, in other words, make truce. You ask why? Supporting World Peace. The plan is to operate one restaurant on International Day of Peace staffed by employees of both companies and selling a burger called the McWhopper, a combination of the Big Mac and the Whopper, the best-selling burgers at McDonald’s and Buryesger King. Sales are to be donated to Peace One Day, a nonprofit organization in pursuit to raise awareness of the International Day of Peace. Burger King is proposing that corporate activism on this scale would create mass awareness and awareness creates action and action saves lives. McDonald’s has not formally accepted the proposal but as tweeted by chief executive Steve Easterbrook, “We love the intention but think our two brands could do something bigger to make a difference.” Burger King used numerous different marketing strategies with the intent of this proposal with alliance marketing coming to mind first. Alliance marketing is marketing activity undertaken by more than one entity, jointly to promote and sell a concept, product or service, which has benefit to all the stakeholders. Obviously neither company would see any proceeds in terms of dollars from this...
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... I walked out through the glass door. In my hand was a brown paper bag that contained my double cheeseburger, fries and drink. I got my fill and I managed to avoid embarrassing myself from being ridiculously late for the meeting with my friends. Had I gone for a meal at the hawker centre or at a restaurant, I would have been grossly late. This happened not too long ago and it was by no means the first of its kind. And I am certain that the experience was not unique to me. Fast food has been hailed for its speedy service. It has made it possible for countless people who are rushing to grab a full meal while. However, fast food is more than just about fast service. It is championed for its affordability too. In Singapore, a McDonald's Big Mac costs a little over $4 on its own. Get it with fries and a drink and the cost would go up to no more than $8. Admittedly, it is a tad pricier than a meal at the hawker centre. But for that $8, you will get to enjoy a clean dining table in an air-conditioned room too. Critics of fast food however, would be quick to argue that the cost of fast food is beyond dollars and cents. Fast food ranks among the top causes of obesity in the developed world. Fitness For All, an independent, non-profit health and fitness organisation in the United States revealed that fast food is the cause of obesity for over 30% of overweight children in the country. According to a report they published recently, working parents no longer have the time to cook proper...
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