Discussion:
Go to McDonald's. Find its vision statement, mission statement, and strategies. Next, assume that McDonald's is creating a strategic plan. Construct an external value chain using each of the components four components described above. Next, rate the importance of each of the four components from a customer's perspective. For example, functionality relates to the characteristics or traits of the product that is being sold. Is quality an important factor for McDonald's? How important is price to the McDonald's customer in comparison to quality and functionality ? How important is time as a strategic component?
Next, consider the construction of the internal value chain. Which are the most important steps to McDonald's? Would it consider outsourcing any step in the value chain? Can you create an internal value chain for providing hamburgers at McDonalds?
Lastly, specify how the Balanced Scorecard can be used in McDonald's strategic process.