Using the company you have selected for your Strategy Development Project(McDonald’s), describe one idea to generate substantial top line revenue growth. As you describe and assess this potential move, refer specifically to Figure 4.1 (p. 77) in Chapter 4 of Sherman and to the other readings from this week to support your response.
- Do you predict your idea will generate short-term growth, long-term sustainable growth, or both?
- How can you keep your competitors from easily copying your strategy?
- What costs, systems, or capabilities are necessary for this growth to occur?
I think a combination of these three elements creates a unique strategy that will have short and long-term sustainable growth. Recently, Mcdonald’s has faced much public criticism for being out of touch with consumer needs as they strive to fulfill the needs of every other group while neglecting the major customer group (Prophet, n.d). This has led to the expansion of rival fast-food companies like burger king. But, if they adopt this strategy in which they understand themselves, their customers, and competition, they are likely to keep a considerable revenue stream now and in the future.
The company can keep competitors from copying their strategy by having the biggest investment possible in it. The strategy of market research is costly as it involves much human and IT expertise.