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Opportunities to increase or maintain revenue are vital for an organization to survive and sustain. Bright ideas and innovative strategies should be acquired to reach the certain goals. If an organization is working on some business plan, it may ponder upon different ways or strategies to boost up their revenues. The organization if loses its strength and do not utilize the opportunities appropriately to generate its revenues; it will be going towards bankruptcy. There are abundant factors that can be employed to create more opportunities for an organization. In this paper, the evidence is given through the example of McDonalds which is one of the leading fast foods chain but at one stage, did not utilize its opportunities in adequate manner and lost its revenue strength in Australia. However, using proper strategies and opportunities, the franchise of Australia get its revenue ratio back in meantime. There were numerous factors that were highlighted by media in Australia.
2.0. Awareness of People:
People were told about the hazardous effects of fast food and this made them conscious about their diet supplements. But to maintain revenues, McDonalds identified the underlying opportunities and implemented in appropriate manner. McDonalds utilized this opportunity to introduce the new fast food trend and initiated low fat and low sugar hygienic food to keep their precious customers healthy and physically fit. McDonalds took the print media opportunities to promulgate those healthy and hygienic foods at nominal price to maintain its revenues. There numerous discount coupons were introduced which were awarded due to late delivery. Family discount deals were also introduced to maintain revenues. As different types of religions were living in Australia so McDonalds took special care of vegetarian and non-vegetarian menus.
3.0. What Is Opportunity?
Opportunity is an essential thing required by an organization to flourish the business on broader level. An organization needs to know about the opportunities available to increase the productivity and revenue. It is for sure that an opportunity paves the way of organization to success no matter how strong competitors are there. To keep an organization at top levels, new and innovative ideas should be generated. (Light, 2008) There should be some mechanism to ponder upon those facts that are considered base to boost the availability of opportunities. To increase the productivity and to enhance the business growth, opportunities should be considered seriously. These opportunities guarantee the future of the respective organization. (Sims, Veres, 1999).
The new and innovative ideas normally give success to business and ensure the high success rate. But if not adopted properly then may provide negative outcome. There exists tough competition and every entrepreneur wants to put his capital in safe place. This is why the new ideas are considered the solution to devise opportunities to produce high revenues. If clients or prospects are satisfied, this will ultimately result big revenue along with reliability for an organization.
4.0. Overview of McDonalds:
McDonalds is considered as the largest fast food company which is serving worldwide with its fast food chains. There exist approximately 47 million consumers that are connected with McDonalds Fast Food. It was founded in 1954; its fast food chains are generating revenues above than $25 million annually. It is nearly impossible for an organization of company to flourish without achieving appropriate opportunity to enhance revenues. Similar the case is with McDonalds as they took innovative ideas and implemented it and still they are reaping high revenues.
Financial report 2010
5.0. Factors That Effect The Impact Of Fast Food:
Franchise of Australia was loosing trend of fast food and this is why McDonalds were also losing its impact on fast food lovers. There were numerous factors that caused this phenomenon. The very fist factor that generated opportunities was the increasing awareness of masses. Due to this awareness, it was presumed that fast food brings many complications in human body and consists of those natural elements that severely harm body functions. People were attracted to fast food because it is saves a lot of time and they don't even need to cook anything. The disturbing factor was that fast food doesn't bear appropriate nutrition and causes debilitating diseases along with obesity. People considered it cost effective but it was stated that it was very destructive from health view.
Fast foods were presumed destructive from health perspective since it is found on sodium, fat but contain very limited amount of Kcal, mineral and vitamin along with fiber. This combination creates diet problems for those who are used to eat fast foods on daily basis. (Ruth, Townsend, 2003). Media played its vital role to aware people about fast foods side effects on health. The obesity is merely caused by eating too much fast food and later on causes many heart diseases.
6.0. Use of Opportunity By McDonalds To Generate Revenues:
McDonalds is world's top leading chain which is providing fast food service since 1950s. McDonalds have adopted many strategies to keep the interest of their customers in their fast foods. McDonalds created its own standard and provided the fast foods with speed and at reasonable price. It never tried to underestimate customer's expectations. Now a day, there exist 30,000 McDonald restaurants which are serving more than 50 million people on daily basis. McDonalds devised different opportunities to earn high revenues. The started their awareness campaign to bring more opportunities for revenue generation. These campaigns elaborated the healthy eating habits. To acquire opportunities to attain the desired level of revenues, McDonalds understood its customer's demand in Australia and integrated the foods that contain health friendly elements. Fast food was made free from fats and excessive sugar. To ensure that they understand their customer's needs, they started their campaigns through print media. They spread awareness about their hygienic and health friendly fast foods with low fat and low sugar.
7.0. Use Of Discount Deals To Generate Revenues:
To bring more opportunities to generate revenues, they used discount options were used. There many discount coupons provided the magnetizing factor to attract more customers. A trend to provide family deals was initiated so that families may feel comfortable with cost effective fast foods menu. With such type of deals, customers are provided with something extra for free. The very important thing is to understand customer's demands. To ensure this phenomenon, McDonalds improved their customer service which also guided them about the hygienic and healthy fast foods.
8.0. Excellent Customer Service:
The customer services can be defined in general terms as the services provided by the workers to customers to fulfill his order within timeframe. (McDonald, 2007) Customer services opportunities play important role in brining up the hidden revenues. If the company has hired qualified staff for customer service then there will be more business for them. The customer services should be responsible for cleanliness and should communicate with customers in sophisticated manner. Same strategy was applied by McDonalds in Australia to squeeze the falling standards of fast foods. This somehow enhanced opportunities to upfront the hidden revenue and positive outcomes were recorded. Up to mark services were provided by the customers working in McDonald restaurants.
The food order placed by customers provided within stipulated timeframe. But, somehow, if the customer were not delivered the order within the time then customers were offered coupons extra discounts to keep their interest alive. The highly educated staff was recruited which communicated with customers very politely. Newcomers were happily guided about the fast food items. Customers were told about the pros and cons of each and every item i.e. the ratio of fats and sugar to ensure that they are not getting excess of them. Home delivery opportunities revealed more revenue by competent workers. People used to calculate time when they order and compare their time with home cooking. This gives them the significant difference as cooking at home takes a lot of time as compared to restaurants. (Ritzer, Atalay, 2010) In Australia, McDonalds improved the home delivery which in return brought more opportunities and revenues.
McDonalds is taking special care of this and provided all type of vegetarian and non-vegetarian foods according to customers needs and changed their menus to provide improved fast foods.. All stated factors ultimately lead to positive results and McDonalds began to earn high revenues by generating marvelous opportunities for themselves.
9.0. Awareness As Opportunity:
The initial remedy that was adopted to bring more opportunities for revenue was the awareness in people about the pros and cons fast foods. McDonald utilized the power of knowledge and educated their customers about the fast foods and its combination to main their healthy lifestyle. Nutrition portion was updated over websites to meet customers' nutritional requirements. Calculators were also integrated online to acquire the healthy nutritional combinations. (O'Rourke, 2007) This strategy was applied in Australia and the very first medium used to spread awareness was through print media. New menus along with overall information about nutrition containing in fast foods items were provided on print media.
Fast Food items having only 9% fats were introduced in menus. Print media opportunities successively paved the way to generate high revenues. New menus were introduced through leaflets to aware people about the percentage of calories, fats and carbohydrates in meals so that they may prevent themselves from obesity. People who are addicted to eat fast foods containing excessive fats encounter heart diseases. Obesity and high cholesterol level leads to heart diseases, stroke, blindness, amputation. (Watson, 2008). Print media opportunity was used to make people acquainted that they are eating healthy foods to generate revenues. Customers are precious for McDonalds and that is why they were ensured that they would get the pure hygienic and health friendly fast foods.
10.0. Discount Coupons As Opportunity:
McDonalds found numerous creative ways to reap opportunities to generate revenues. To make high sales in Australia, numerous types of discounts were provided in form of coupons. These coupons were distributed to attract people so that they enjoy hygienic low fatty fast food along at discounted price. McDonalds always served cost effective food so that it may range in everyone's budget. Discount coupons were introduced in Australia to promulgate discounts on different fast food items. This phenomenon gave positive results and more opportunities to earn revenues were produced for McDonalds.
Along with coupons, customers are also offered to take part in contests with money and numerous food prizes to earn more revenue by generating opportunities. For example, McDonald offered that the customer order will be delivered with in 60 seconds but if not then the customer will received a discount coupon on purchasing drink. (Hallinger, Bridges, Snidvongs, 2007) the customers were also included in lucky draw for trip to another country. With this, McDonalds availed matchless opportunities and generating handsome mandatory revenues in Australia as McDonald has got its charm back.
McDonalds created opportunities by providing family deals in Australia and balanced its revenues. It was another way to attract families who love fast foods. With family deals, fast food is provided for 2 or more people at discounted rate. Such type of deals not only consists of discount but also many other extra fast food items are included in the deal package. Families were also facilitated to take the rest meal to home in packing. Family deals were flexible as the numbers of members grow the discount rate rises. For example, if the customer ordered zinger burgers he will be given cold drinks for or hygienic salad for free. Family deals were introduced in Australia so that families may feel easy and comfortable when they need some outing. Many toys were also integrated in McDonald's restaurants to keep the little ones amused in colorful environment. Such type of discount offers made families comfortable with McDonalds in Australia and it begin to get its grip slowly and steadily with the passage of time resulting more opportunities to raise revenues up.
11.0. Cultural Aspects As Opportunity:
Last but not least, the most important factor that should be considered while crafting food menus is cultural difference. As numerous communities live in Australia, so the fast foods should be according to their culture and religious norms. If the example of Indian and Australian McDonalds franchises is concerned, it is evident that most of the people from Australia are non-vegetarian and happily enjoy beef and mutton in fast foods. On the other hand, most of Indians are accustomed to be vegetarian and they like all those food items that consists healthy and hygienic vegetables. McDonalds provided special menus and order system so that the customer may include or exclude those things which he likes or dislikes. The production of such type food items was according to customer's needs and demands and McDonald took these factors under serious consideration and this lead to opportunities producing more revenues (MacDonalds, 2007).
Opportunities to maintain and earn high revenues are available to each and every organization or company. The need is to utilize them in lucrative manner. It also happens sometimes that it is needed to find opportunities. McDonalds lost impact in Australia and it adopted opportunities to revive its revenues in a simplified manner. The first strategy that was adopted by McDonalds was the production of fat and oil free hygienic fast foods. Traditional fast foods lack healthy nutrition and were causing hazardous effect on customers' health so fast foods containing only 6% fats were introduced and this opportunity to boost revenue worked in sophisticated manner. Many other factors that are normally underestimated were viewed seriously (MacDonalds, 2007).
The order delivery speed was adequate and huge number of discounts and prize coupons were introduced. Family discount deals were offered to ensure the arrival of families. The discount rate increased with the increase in members of family. Recruitment of qualified staff was ensured to make customers reliable. Staff was also dedicated to guide customers about special and new vegetarian and non vegetarian food items. Religious and cultural opportunities played important role in increasing revenues. But there exist endless opportunities for an organization to take its revenues to a constant level. Polite communication with customer leads to good relationships. If discounts offered to new customer, it will surely bring new prospects creating more opportunities for an organization or company. It is very important to consider all opportunities that are neglected by an organization to maintain its revenue.