McDonald's Needs To Learn How To Report Performance Effectively

McDonald's has certain areas where it can improve its services and attract consumers which it needs to focus on than reports.

McDonald’s Corporation, the hamburger giant recently reported that the company will not showcase the monthly same store reports anymore; nobody knew why the company decided to take such an initiative. Since a fairly long span of time, McDonald’s sales have been facing a constant decline.

An increase in the comps can also be related to the growth in the industry that already exists through dollars that have been already invested showing that the company can have a strong position.

In order to overcome the turmoil, McDonald's restaurant decide to hire Mr. Steve Easterbrook as the new chief executive officer of the company. The new CEO has to overcome several obstacles in order to pave the company’s way to stability. The hurdles that the company is facing include cultural shifts, the dissension of employees regarding wages and the massive competition in store for them. None of the company’s competitors report their same-store earnings too. So now the company has reduced its reporting, the fast food behemoth will have to scrutinize only four times in a year.

The company that reports their position on a regular basis is those firms like WhatsApp, Snapchat, Twitter that already have a stable stream of money. However, it needs to be noted here that not all these firms are making money through consumers. Users do not really pay for these services and are mostly availing them free of cost. Their prime source of revenues is by advertising by those brands who wish to get limelight through these platforms.

So McDonald's need to realize here that the business they are doing is relatively different from the masses. Moreover, the company also made several blunders that bought them in the limelight and sabotaged their image even further. All this has piled up now and has added to their misery.

The company here needs to realize that the only way it can redeem its position is by coming up with food that appeals the masses. They are in the market to cater a diversified audience with different tastes and preferences then their menu should also be customized in manner that suits all. Moreover, peopled initially preferred them since their food was quick but now with all complexity they are also losing up on those customers that want quick food that was not a burden on their budget.

Hence, in a nutshell, McDonald's has certain areas where it can improve its services and attract consumers which it needs to focus on than reports.