ESTABLISHING THE PARTNERSHIP
INTRODUCTION
McDonald is an American fast food restaurant operated by Richard and Maurice McDonald in United States. It is the largest food chain who brings highest revenue in the world. MacDonald is well renowned as American hamburger and fast food chain. Beside this, McDonald’s also serves salad, smoothies, fish and fruit. Today, they are also selling milkshakes, soft-drinks, and wraps. Every business needs funds to expand their business so as with MacDonald. An effective partnership can be established with a level of efficiency that only few different companies or partners can match. It is important for any company to choose the partners wisely.
TO START A BUSINESS PARTNERSHIP
Get your collaboration off the ground to meet all points of success. Companies can only allies with your company if it gets some benefit from it. So, McDonald’s must look for some beverages, food chains to collaborate with. If the fast food chain partnered with Sports Company, then it will turn into a massive failure (Buckup, 2012).
Companies must ensure that they know the need of all the company with whom they are going to partnered.
Both parties must fulfill the legal agreements to avoid any disputes in future.
There must be proper communication i.e. direct communication or indirect communication between both the parties.
TOP PARTNERS OF MACDONALD’S
Rovio entertainment – McDonalds had launched a happy food promotion with animation facts. Joining hands with Rovio entertainments take the success of the fast food chain forward.
Kraft food – to meet the needs of the customers, MacDonald’s keeps bring something new and fresh for their customers. Today, MacDonald’s and Kraft Food are packaging McCafe coffee for at-home consumption (Fung, 2004).
Nintendo of America – A king of fast food segment and the biggest Japanese video game company join their hands for serving something new for their customers. The Japanese companies are providing quick training to the employees of the fast food segment. This collaboration cuts the training time of employees (Bowman & Ambrosini, 2012)
DDB – MacDonald’s hires Omnicom to handle U.S creative in August after reviewing the company in each and every way. Omnicom will be housed in Chicago and officially will take all duties of McDonald services (Stadtler & MacDonald & McCarthy, 2016).
Sinopec – McDonald will partner with china based petroleum and Chemical Corporation to make drive-thru fast food restaurants in main china. McDonald’s want to increase the number of fast food chain in china from 760 to 1000 by 2008. The main objective of this McDonald’s and Sinopec partnership is to take benefit of rising car ownership in china. This collaboration benefits both the company at the same level (Bakker, 2012).
Coca-Cola – McDonald’s and Coca-Cola had joined their hands in 1955, when McDonald’s fast food chain opened its first restaurant. Macdonald served fast food which requires some beverages to be served with it. Both companies decided to serve their audience fast food with some beverages and drinks.
Macdonald’s and Coca-Cola partnership is a big treat for their audience and companies got big success. Customers are overwhelmed to enjoying a fast food meal with coke which makes the soft drink becoming a key to success (Breto, 2009).
ESTABLISHING PARTNERSHIPS IN A RIGHT WAY BENEFITS BOTH THE COMPANIES:
Serving clients through working together.
Expanded its reach through referrals from both the organization.
Expand the visibility to customers due to association with your company.
Saving money through the shared the services of each other.
Good partnership listens the audience according to their taste and preference to turn their success on a right track (Saraph & Benson & Schroede, 2016).
REFERENCES
Buckup, S. (2012). Building Successful Partnerships. The Annual Review Of Social Partnerships, 2012(7), 11-11.
breto, R. (2009). Coca-Cola partner to bring success to fast food chain. Beverages Industry Analyst, 2009(3).
Stadtler, L., MacDonald, A., & McCarthy, L. (2016). Fast Food Section. The Annual Review Of Establish Partnerships, 2016(11), 43-64.
Bakker, F. (2012). Beyond Partnerships. The Annual Review Of Social Partnerships, 2012(7), 7-7.
Fung, N. (2004). Employees in care and training. Psychiatric Bulletin, 28(12), 458-459.
Ravichandran T, Rai A (2012) Quality management and partnership +in systems development: an organizational system perspective.
Saraph JV, Benson PG, Schroeder RG (2016) An instrument for measuring the critical factors of partnership. Decis Sci 20(4):810–829
Bowman, C. and Ambrosini, V. (2010), ”Value creation versus value capture: towards a coherent definition of value in strategy”, British Journal of Management, Vol. 11 No. 1, pp. 1-15.