Planning is one of the four integral aspects of management process. Planning is developing strategies and business models based on organizational goals and predicting achievements based on the strategies. The fundamental notion of planning is to come up with innovative strategies for the company to succeed in the future. By understanding the direction of the strategies the managers can allocate resources for those functions (Griffin, 2013). Developing innovative strategies, decision making process and futuristic planning has aided McDonalds towards its phenomenal growth.
The current stock value of McDonald is 98.23 USD. Even though the customer who frequented McDonalds has reduced the company managed to post profits. The company is currently making “Turn round plan” to thrive in future, as they had done in the past (Hall, 2015). There will be many plans proposed and implemented in a small level. If the plan proves to be a success it will be implemented on a larger scale. Planning is a continual process that needs to be done on a regular basis. In spite of the company being able At McDonalds they had planned to develop their fast food joints primarily in the emerging economics like China, India and Korea (Bhasin, 2011). This is being successfully implemented. They had intended to have their fast food joints to have aesthetically pleasing elements that entice the consumers to visit their joints (Bhasin, 2011). Management fundamentals state that a company needs to have alternate proposals and ideas in order to thrive in future. However this deviation from the original plan should not move from their core values and deliverables (Griffin, 2013). Another company strategy that has aided in the growth of the company is the introduction of coffee to their menu (Bhasin, 2011). They had deviated from their original menu item of delivering fast food but the addition of McCafe had aided to sales.