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McDonald’s
In 1955, a fast food restaurant named McDonald’s was first opened by a Ray Kroc. Little did he know that it was the dawn of a vast empire which would permeate throughout the globe and exert enormous effects on cultures throughout the world. McDonald’s isn’t the only corporation to utilize the globalization of markets for profit while inadvertently influencing unique cultures. Many others dominant players in the food, retail, and entertainment industries have done so as well, but the golden arches are now arguably the most recognizable image in the world. The company is the world’s largest fast food chain with presence in over 120 countries, and the intention of expanding even further. Their 32,000 outlets generated over $20 billion in revenues last year alone. In 2006, the United States was no longer even their largest source of revenue, being narrowly surpassed by the European Union. McDonald’s successfully employs a unique type of corporate strategy, transnational strategy, which allows them to compete through standardization while simultaneously adapting to local customs when deemed necessary and appropriate. The company has an unprecedented level of presence dispersed throughout the world and the demand for their products continues to grow.
Just ten short years subsequent to the first opening of a retail outlet, McDonald’s went public to generate capital for expansion and it has never looked back. Within two years of its initial public offering, McDonald’s reached across the border to Canada to increase its market share. McDonald's restaurants typically offer a standard menu c ...