busn 5000 week 5 hw

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Webster University *

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5000

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Economics

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Feb 20, 2024

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BUSN 5000 Homework 5 Please open this document in Microsoft Word and respond directly in this document without modification of the text in bold. This way the answer will be in the same place and in the same format for every student. You will submit this Word file in Canvas. If you have any trouble, reach out to your instructor in a timely manner. Question 1 – During the height of the Covid pandemic, McDonalds like all other restaurant chains suffered from the combined negative impact of missing customers and supply chain disruptions. In words, how might each of these separately affect the Demand and Supply diagram. What is the overall impact on the market for McDonalds? Next, graphically depict the combined effect of the two, make a copy of the image, and insert at the bottom of the answer. If you need help, with photographing and inserting an image, reach out to your instructor or classmate. Demand Curve Impact – The pandemic would have made significant impacts on the demand for McDonald's items with lockdowns and social distancing measures in place. I believe that this would have led to a decrease in customers’ willingness to dine out. Supply chain disruptions would also have indirectly affected demand by causing product shortages or limited menu selections, which could have lessened client satisfaction and demand. Supply Curve Impact – The absence of customers due to the epidemic would have impacted both the demand and supply side of McDonald's operations. As demand fell, there was less need for raw resources and some suppliers had difficulty selling their products. Interruptions in the supply chain would have also affected the supply of items to McDonald's restaurants, resulting in potential delays, increased expenses, and difficulty maintaining constant supply levels. Overall Impact – I believe that a decrease in consumers and supply chain interruptions had a substantial impact on the McDonald's market. The shift in both demand and supply curves would have indicated a decline, leading to a decrease in the equilibrium quantity and an uncertain effect on the equilibrium price. The drop in demand due to missing customers and the drop in supply due to supply chain disruptions suggested that McDonald's could not create and supply its items as effectively as before.

BUSN 5000 Homework 5 Graphical depiction below from Google: Question 2 – How might McDonalds adapt its business model to make it less sensitive to a similar shock in the future? Provide a brief executive summary of your suggestion. Do not quote directly from any source including ChatGPT. Rely on your own reasoning. Limit 300 words I recently read an article that suggested McDonald's should focus on three main steps to make its business model less vulnerable to future shocks. The first step is to diversify its revenue streams by entering the meal delivery market or supplying packaged or ready-to-cook versions of its popular menu items at supermarkets. Another step is to strengthen its digital skills by enhancing its mobile app and investing in self-order kiosks, and other new technology. Finally, McDonald's should embrace sustainable practices, such as extending its plant-based menu offerings, decreasing package waste, and investing in energy-efficient technology and processes. By doing so, McDonald's can limit the impact of future shocks and swiftly adjust to changes in consumer behavior and preferences.

BUSN 5000 Homework 5 To make its business model less vulnerable to future shocks, McDonald's should diversify its revenue streams by entering the meal delivery market, adopting subscription-based models, and supplying packaged or ready-to-cook versions of its popular menu items at supermarkets. The company should also enhance its digital skills by investing in mobile ordering and delivery options, self-order kiosks, and other new technologies. Lastly, McDonald's should embrace sustainable practices by extending its plant-based menu offerings, reducing package waste, and investing in energy-efficient technology. By taking these steps, McDonald's can improve its business model and align with evolving consumer preferences.

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