busn 5000 week 5 sriram prathi

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Webster University *

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5000

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Economics

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Jan 9, 2024

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docx

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Uploaded by MagistrateRose25373

BUSN 5000 Homework 5 Sriram Prathi, 4231966 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 – During the pandemic, each and every business had an negative impact and same goes with Mcdonalds. With all the lockdowns and restrictions people stopped coming outside and as well as stopped eating outside. These missing customers had made an negative impact on demand curve. As a result, the demand curve shifted to the left, suggesting a drop in the amount demanded at each price level. As customers became more price-sensitive and had a lower willingness to pay, the demand curve became more elastic. Supply Curve Impact – The supply chain has also been affected during the pandemic due to all the lockdowns and restrictions, due to these restrictions the production, transport and all other operations were at stand still. These kind of disruptions has caused an negative impact on supply curve for McDonalds. There was a drop in the quantity delivered at each price level. As McDonald's struggled to alter production levels to match the lower demand Insert Graph Immediately Below

BUSN 5000 Homework 5 Sriram Prathi, 4231966 As we can see in the graph, how the line has been decreased at the quantity demanded and quantity supplied during the pandemic. 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 Answer: McDonald's should execute a multidimensional strategy that focuses on diversification, digital transformation, supply chain resilience, and health and safety safeguards to make its business model less vulnerable to future shocks akin to the Covid-19 outbreak. 1.Diversofocation of Revenue streams: McDonald's should diversify its income sources beyond dine-in sales by investing in channels such as drive-thru, takeaway, delivery, and internet ordering platforms. McDonald's may lessen its reliance on a single sales channel and mitigate the effect of future interruptions by giving customers with other ways to obtain their items. 2.Strengthen supply chain: McDonald's should prioritize developing strong connections with various suppliers, executing contingency plans, and using technology for real-time supply chain visibility and monitoring to improve supply chain resilience. McDonald's can avoid delays and maintain a steady inventory of ingredients and packaging materials by having alternate suppliers and backup plans in place. 3.Prioritize Health and Safety measures: To inspire trust in customers and staff, McDonald's should prioritize health and safety standards. Implementing strong hygiene measures, improving cleaning standards, and investing in contactless technology are all part of this. McDonald's can reassure consumers that their safety is a major concern and lessen the effect of future health problems by displaying a commitment to safety.

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