McDonald's International Operations

McDonald's develops, operates, franchises and services a global system of restaurants which prepare, assemble, package and sell a limited menu of value-priced foods. These restaurants are operated by the company or, under the terms of franchise arrangements, by franchisees who are independent third parties. Affiliates can also operate under joint-venture agreements between McDonald's and local businesspeople.

McDonald's franchising program assures consistency and quality regardless of where a store is located. McDonald's is s

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even declined from the mid-1970s through the recession of the early 1980s. The economy then experienced eight consecutive years of growth that ended with a downturn beginning in late 1992 ("Background Notes-Germany, 1995, p. 6). After national unification in the early 1990s, eastern German industrial output collapsed to approximately 40 percent of its 1989 level, leading to high unemployment in the new states. Reunification strained German public finance, hurt the labor market, and eventually exposed structural weaknesses in the economy. Following a reunification-induced western German economic boom during 1990-1992 fueled by explosive consumer demand and capital spending, growth stalled while transfer payments to the eastern states rose to $90 billion per year. In an effort to contain the inflationary pressures of these transfers, the Central Bank (Bundesbank) maintained a high short-term interest rate policy which further dampened economic activity. In 1994, the German economy turned the corner on recovery, and the 10 percent growth rate in the eastern states was the highest of any region in Europe ("Background Notes-Germany, 1995, p. 6). Germans often describe their economic system as a "social market economy" since the
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Approximate Word count = 3946
Approximate Pages = 16 (250 words per page)

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