International Business Student Collaboration Project Team 100 Client (Company): Product/Service: Team members: Did Not Participate

Name Country (Please make a note if this teammate did not contribute during the project, has not replied to emails, etc.). KevinWardle ElisaLi NinettePongo ChristianKevinSlkner WeronikaDynak IgnatAlexandra IvanDharmawan USA,IL Korea Ghana Austria Poland Romania Indonesia McDonalds Corporation McNet online and delivery service

Please note that each team member must submit a copy of this report to his or her Instructor. Each report submitted by the members of your team must be identical.

ElectivitySummary
Team 100 proposes McDonalds launch a new online-shop as well as a Smartphone-App called McNet in Europe. This innovation will allow consumers to easily customise their menus and pick them up from a store or even have it delivered home in urban areas. Europe is projected as the target market for this innovative product, which can only be used by those with access to the internet. The service personnel will be located within each restaurant and at the McDonalds headquarters. McDonalds should enter into the European Market through their wholly owned subsidiaries. We recommend forming a cross-functional project team, to carry out this project. For the delivery service, McDonalds should recruit locals. McNet has a really promising future with a successful marketing campaign by raising awareness and creating an easy yet fun approach to fast food. The payment methods for McNet should be either payment by credit card via phone / Internet (WorldPay) or cash payment at receipt. We recommend McDonalds to issue additional shares (equity financing). The probable challenges for McDonalds could be less sales in their restaurants and systemic problems with the web-service.

TableofContents
1 ELECTIVITYSUMMARY..........................................................................................................................2 2 PRODUCT/SERVICE................................................................................................................................4 3 TARGETMARKET....................................................................................................................................4 4 PRODUCTIONSITEORSERVICEPERSONNELLOCATION...........................................................7 5 ENTRYMODE............................................................................................................................................8 6 STAFFING................................................................................................................................................10 6.1 MCNETANDMCNETAPP...................................................................................................................................11 6.2 DELIVERYSERVICE...............................................................................................................................................12 7 MARKETING...........................................................................................................................................12 7.1 MARKETINGMIX4PANALYSISOFMCNET......................................................................................................12 7.2 SWOTANALYSIS...................................................................................................................................................14 8 PAYMENTARRANGEMENTS..............................................................................................................15 8.1 PAYMENTBYCREDITCARDVIAPHONEORINTERNETWORLDPAY..........................................................16 8.2 CASHPAYMENT(ATTHERECEIPT)....................................................................................................................17 9 CAPITAL...................................................................................................................................................17 10 LIKELYCHALLENGES...........................................................................................................................19 LISTOFREFERENCES.................................................................................................................................21

Product/Service
McNet is an innovative proposal by team 100 for McDonalds. Unlike a typical internet

service, McNet will provide a unique form for buying and selling through the medium of Internet. This innovation will allow consumers to easily customise their menus and pick them up from a store or even have them delivered home in urban areas. McNet is the answer to an increasing demand for McDonalds products. The public wants access to easy methods of carrying out transactions and this can be made available with the use of the Internet. Team 100 is thus proposing to McDonalds to launch the McNet online-shop as well as Smartphone-App in Europe.

TargetMarket
A target market of a company is the consumers the company wants to sell its products

and services to, and to whom it directs its marketing efforts. In other words, a target market is the breaking of a market into segments and then concentrating marketing efforts on one or a few key segments. Identifying the target market is an essential step in the development of a new product. A target market can be separated from the market as a whole by geographic (states, regions, cities, etc.), demographics (age, life stage, gender, income social class), as well as by psychographics (life styles, personality traits, or values), and behavioural (basis of their knowledge of, attitude towards, use of, or the response to a product). Not all products and services are meant for all types of consumers. In fact, companies may tweak certain aspects of a product, such as the amount of sugar in a soft drink, so that it is more likely to be purchased by consumers with varying tastes. Creating the target market may

require the use of limited product roll-outs and focus groups, allowing product managers to get a feel for which aspects of the product are the strongest. McDonalds primarily sells hamburgers, cheeseburgers, chicken, french fries, breakfast items, soft drinks, shakes and desserts. In response to changing consumer tastes, team 100 recommends the launching of a new online-shop as well as Smartphone in Europe. This innovation will allow consumers to easily customise their menus and pick it up from a store or even have it delivered home in urban areas. It is in the light of the above that the team is proposing Europe as the target market for this innovative product which can only be used by those with access to the internet. McDonalds target market should also be every segment of the demography, everyone and anyone that they think might visit any of their restaurants. The target market of McDonalds in relation to this service should therefore be those with internet access since they will be the target customers who are most likely use McNet. The chart (fig.1&2) below indicates internet users in Europe which in fact buttresses our recommendations to offer this service to that specific market since internet usage is wider there.

Figure1Internet Users in Europe, March 31 2011

Moreover, McDonalds will be wise to enter one segment at a time, since it is not prudent for competitors to know what segment(s) they will move in next with this innovation. Unfortunately, companies fail to develop a long - term invasion plan which in actual fact is suicidal! As a prominent example of the rapid globalization of the American fast food industry, McDonald's should often target expansion in its business practices. Implementing this will be exceptionally effective since McDonalds has started to offer free wireless Internet access in many countries. McDonalds should not lose sight of the fact that they are in completion with Burger King-Second largest burger chain, Wendy's-World's third largest hamburger fast food chain, Jack in the Box-American fast food chain, Subway-Largest single-brand restaurant chain, Carl's Jr.-Fifth largest American fast food chain, Five Guys-American fast food chain, Whataburger-American fast food chain etc.

Internet Usage in Europe

EUROPE Population (2011 Est.) 816,426,346 6,113,628,808 6,930,055,154 % Pop. of World 11.8 % 88.2 % 100.0 % Internet Users, Latest Data 476,278,755 1,634,487,055 2,110,765,810 Penetration (% Population) 58.3 % 26.7 % 30.5 % Users % World 22.6 % 77.4 % 100.0 %

Europe Rest of World TOTAL WORLD

NOTES:(1)EuropeanInternetStatisticswereupdatedforJune30,2011.(2)Populationisbased ondatafromthe CensusBureau.(3)Theusagenumberscomefromvariousqualifiedsources, mainlyfromdatapublishedby NielsenOnline , ITU, Facebook, GfK ,andothertrustworthy sources.(4)Datamaybecited,givingduecreditandestablishinganactivelinkbackto Internet WorldStats .Copyright2011,MiniwattsMarketingGroup.Allrightsreservedworldwide. Figure2InternetUsageinEurope

ProductionSiteorServicePersonnelLocation

Since what we are proposing to McDonalds, to offer is a service, there will be no production site needed. However, we will need to find service personnel location. Since there are so many McDonalds restaurants across Europe, having one service personnel location would be very difficult to maintain. The best idea would be to have service personnel at each of the McDonalds restaurants, as well as service personnel at their headquarters. This would mean hiring another person for this new job, or training many of the employees in current positions at McDonalds on how to handle online service orders. The service personnel for the development and maintenance of this new service will be located at McDonalds headquarters in Oak Brook, IL, United States of America. It makes the most sense to place the service personnel who are in charge of maintenance in the headquarters, because they would be around the best technology available and they would be around the most up-to-date information regarding the McDonalds Corporation. These people would be in charge of keeping the McNet site relevant and intuitive for the consumers using the website. Since McDonalds operates in many countries within Europe, there would need to be multiple people hired for the headquarters service positions. These individuals would be in charge of the various countries, and making sure each of them gets the attention they deserve for their McNet websites. To do this, there must be strong communication between the different countries and the people who produce the websites. Since many different countries have different deals and menu items, the service personnel located at the headquarters would be assigned to different regions of Europe. This way each of the people working on the McNet site can be in charge of their region only, and not be confused

by deals or menu items in other areas. The service personnel working within the individual McDonalds restaurants would be responsible for all online orders, and fulfilling those orders as they would anyone who orders in the drive-through. The intuitiveness of the service to the employees of McDonalds is just as important as it is for the consumers. This means the service personnel need to make sure the orders that come through from online are easy to find, and are clearly recognized as online orders, as to not get them confused with drive-through or inrestaurant orders. Therefore, persons need to be hired for the service personnel positions at the McDonalds headquarters, as well as hiring people or training them within each of the McDonalds restaurants in the process of receiving and fulfilling online orders from the McNet site.

Entrymode
The choice of entry mode is an essential part of any firms new business development

strategy. A diversifying entrant is not only apprehensive about what markets to penetrate, but also how to penetrate. In dealing with both questions, our suggestion in relation to entry mode for McDonalds seeks to dwell on the scope and diversification of some of its business process operations to facilitate the new business idea of launching a new online-shop as well as Smartphone in Europe we term McNet. This innovation will allow consumers to easily customise their menus and pick it up from a store or even have it delivered home in urban areas. McDonalds does business in 119 countries around the world with more than 33,000 local restaurants hence their entry mode should be through their wholly owned subsidiaries in Europe since this service is targeting the European market. In any case, successful entry into old markets with new products, demands meticulous analysis, cautious planning and a solid sense if timing.

McDonalds must also determine the sustainability of this service-line to the old market, the present as well as probable competitors actions. The least risky growth strategy for any business is to simply vend more of its current product to its current customers through other means, a strategy perfected by large consumer goods companies. Selling products to existing customers is far less risky than having to learn a new product and market it at the same time. Using alternative channels to reach consumers involves pursuing them in a different way such as, for example, McDonalds customizing their products online. Using the internet must allow consumers to easily customise their menus and pick it up from a store in style. Among the many challenges of entering an existing market with a new product is cost. Every company, however big its size, works under constraints of resources. These resources could apply to capital, staff, premises, and several other aspects. Entry through their subsidiaries will help McDonalds to free up its resources to be used on other aspects. Yip (1982) argues that the relatedness between a firm and the new market entered significantly reduces the costs of entry when a firm enters via internal development. In contrast, the relatedness does not reduce the costs of entry when a firm enters via acquisition since the price of the acquirer is set by the market for corporate control. New online services, always offers the opportunity for developing online brands of products and services by taking advantage of online technologies that enable innovative new products to be adapted to customer preferences, using IT to enable efficient and effective operations such as launching a new online-shop (McNet) by McDonalds will be exclusive and well patronised in view of the fact that many individuals are health conscious of late.

The Internet is an innovative channel for most organizations and the sole means for a large number of inventive new organizations. According to Skinner (2010) McDonalds CEO, we are in many countries around the world and our current strategy is to focus on the markets where we do business. No firm date has been established for the opening of new markets. Consequently our teams recommendation on mode of entry should be through their subsidiaries.

Staffing
There is no doubt that a companys employees are one of its key resources. Indeed, the

success of McNet largely depends on the people that work on it. Hence, the staff should be as qualified and as capable as possible. To be most effective, we suggest forming a cross-functional project team, since this very flexible structure facilitates quick adaptations to unexpected changes that are very likely to occur, especially in new ventures (Pinto et al., 1993). This team should be staffed with European headquarters managers, in-house software engineers as well as other different experts, such as lawyers or Tax Consultants, which could be important to carry

Figure3ProjectTeam

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out the whole project. The regional managers have an indispensable, thorough knowledge of Europes economy, the companys own programmers know perfectly about what to pay attention to regarding the technical aspects of McNet and the experts can provide helpful advice instantly when it is needed. Needless to say, our project should not just be planned; McNet should also be implemented. These processes, of course, require recruitment as well and we will now discuss that in further detail.

6.1

McNetandMcNetApp
In order to exceed its customers needs, McDonalds Corporation must have the best

possible employees developing a state-of-the-art web service. For this purpose, we suggest recruiting the staff needed internally for various reasons. Firstly, McDonalds already employs people who have an unrivalled knowledge about both, how to successfully offer different web services (such as My Meal Builder, Restaurant Locator, the McDonalds-app for smartphones) and about their customers. Indeed, who knows the target market better than the firm that has analyzed it for over 70 years now? Why, then, recruiting new staff, when the human resources already exist within the company? Secondly, hiring new employees would be highly time intensive. Not only the hiring process itself, but also things like induction training would take precious time that is not available on the highly competitive market McDonalds operates in. And thirdly, both the hiring process itself and the remuneration for new employees would cost a lot of money. All things considered, a project team staffed with in-house employees of the European Division is the best option to successfully develop McNet.

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6.2

DeliveryService
McNet makes it possible to customize meals online and to pick them up from the store,

but thats not all. In urban areas McDonalds should deliver these meals directly home. We thought that there is nobody who would be more familiar with a particular city and thus qualified for this job than locals. This is why we would strongly recommend recruiting them for the delivery service.

Marketing
McDonalds has always been avant-garde in terms of marketing in the fast food industry

by creating a wide range of sub products (wraps or salads) and offering a new experience in their stores (McCafe). Also, their advertising always seems successful with funny yet witty commercials and advertisements and they manage to relaunch their sales by offering some time limited products (280 burger, season based burgers,). Yet, by launching McNet, McDonalds is competing on a whole different level: first, the distribution channel from the retailer to the Customer and then by launching a different approach to fast food.

7.1

MarketingMix4PanalysisofMcNet
Product : McNet is a whole new way to fast food. The product is about enabling the

customization of meals on a web-based platform available on computer and smart devices (smart phones and tablets). With McNet, composing your own meal is a simple as ever : choose between different types of bread (white, whole, cereals, black), meat (beef, turkey, ham or fish), cheese (cheddar, blue, parmesan) vegetables (tomato, pickles, salad), sauce (barbecue, sweet and sour) and then select a side (vegetables, fries) and a drink (water, coke, orange juice) or maybe

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even a dessert and a coffee. In order to enable the Customer to pick easily, some recommendations will be made on how to make your own meal and what ingredients best matches. Place: McNet will first be launched all over Europe. We have chosen Europe as it represents a huge potential market for McNet and might be seen as re-dynamizing McDonalds position. McDonalds has best accessibility to customers there as the Internet is easily accessible and ready to be used. Besides, the young European population, which represents our target market, have access to the Internet and are ready to use such tool to get their favorite McDonalds meal delivered home. Europe is the second largest market for McDonalds. As the stores in Europe are geographically closer to the Customer, it would be more efficient and cost saving to launch this type of home delivery in Europe first. Price: Prices will range according to the menu elaborated by the Customer. Each type of ingredients price will be listed and then added to the total amount. With McNet, McDonalds will also launch new types of ingredients to appeal to the change in customers tastes for a more exotic approach to food like introducing for example the shrimp burger with lemon sauce. However, premium prices will be charged for time-limited or season based ingredients and menus. Promotion: McNet will be the first web-platform launched in the fast food industry. Thus, we have to make this attempt successful and benefit from the first mover advantage by creating a bigger gap between other competitors on the market. Therefore, McDonalds will not only be launching a series of commercials on TV and posting advertisements in public places but also reach their potential customers through the web. McDonalds will be working hand in hand with social Networking sites such as Facebook, Twitter, YouTube or LinkedIn and also advertise

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on popular sites (Google, Yahoo). Promotion of McNet can also be done by creating Small workshops in schools or offices in order to promote healthy eating habits and at the same time raise awareness on our new service. Furthermore, McNet will be giving out coupons and discounts as well as creating a membership loyalty program.

7.2

SWOTanalysis
Strengths: by introducing McNet, McDonalds has great chances to benefit from the

firstmover advantage: since no other competitor offers such services, if McNet is well adopted by customers, McDonalds will be well repositioned as the leader. Moreover, McDonalds benefits from a relatively strong loyalty from their customers and is really well positioned in the market. McDonalds also possess strong brand equity and are well known all over the world. McNet would bring McDonlads that extra impulse it needs in the fast food industry, which was being criticized for being junk food. The next mission of McDonalds would be changing this prejudice and show the world it is possible to have fast and healthy food. Weaknesses: with McNet, McDonalds puts itself at stake with a win or lose situation: either a huge success or a big fail. Therefore, to limit the possible impacts of unsatisfactory sales and lack of responsiveness of customers, McNets delivery service will only be available in big cities and really frequented areas, where more potential customers are to be found. To make the return on investment positive, McDonalds has to analyze thoroughly the needs of the customers and be flexible. McNet involves creating a new habit to fast food and change the current ways of thinking. Opportunities: McNet represents a niche market for McDonalds and if responsiveness is satisfactory, it might ensure McDonalds position as the leader on the market. This new distribution channel unique in Europe (McDonalds delivers in Asia but not in Europe yet) might

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level up the brand image and level up customers expectations of the fast food industry. McNet is the real opportunity to surprise customers and make them think drastically differently of fast food. Threats: the lack of responsiveness and enthusiasm to McNet appear to be the main threats. First, the Customer has to adapt to this new tool (even if made easy and ready to use). So, McDonalds main focus would be to raise awareness about McNet and make this tool ubiquitous and almost cant-live-without-it type. Thus, it seems like McNet has a really promising future if we follow a successful marketing campaign by raising awareness and creating an easy yet fun approach to fast food. Despite the fear of non responsiveness of potential customers, McDonalds has the strategic resources to overcome such hurdles and make McNet a wonderful service and make itself a better positioned leader on the market. Through advertisements and strategic campaigns, McNet will seek to be the new way to order and get healthy yet fast meals to be delivered and ready to be consumed without having to be charged extra. With McNet, customers have the right to decide what to eat and where to consume their meals as well as controlling their expenses.

Paymentarrangements
If we focus on Europe as a target group, the payment methods for the McNet should

cover two dimensions - to be accessible and convenient for consumers, because the European market has not the same features that might have the U.S. market. Taking into account these, the viable payment methods for the McNet services in Europe are:

Payment by credit card via phone or Internet - WorldPay Cash payment (at the receipt)

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8.1

PaymentbycreditcardviaphoneorInternetWorldPay
WorldPay is an established leader in face-to-face, online, telephone and mail order

payment management. Their services are used every day by large companies and small businesses - right across the world. WorldPay offers everything you need for processing payments. They provide global reach and local knowledge - whatever size and type of business you run. They have a wealth of experience in helping companies involved in retail, mail order and online businesses.

Size they are one of Europe's largest payment services providers Market leaders - the first UK bank to offer a full internet banking service High volume - every day they process an average of over 12 million transactions Robust - they can process up to 200 simultaneous online transactions a second for a single customer

Speed they can process up to 500 of face-to-face transactions every second. services provide clear financial benefits for their customers.

Their

Cash flow - they help you improve your cash flow, as you control how often you receive money

Security - they system helps you minimise your risk of exposure to fraud Flexibility - they offer continuity to your business and allow you to expand your payments solution as your business grows (WorldPay Ltd., 2011)

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8.2

Cashpayment(atthereceipt)
If McNet services will be accessible for other categories of buyers, who are accustomed

to traditional methods of payment, a good solution for them would be paying cash. Payment with cash is made in full on delivery order. In case of delivery by courier, payment will be made to the agent who delivers. To make the service convenient and eliminate the pattern of fraud which may arise using cash payment, after ordering online - customers will receive an electronic McNet invoice in duplicate. A bill that will inform the client what value he has to pay after making the online order and another for those who are delivering the product.

Capital
Launching a new product or service requires much skill and preparation. Companies may

not have the resources to raise capital in order to market their new business ideas; consequently, some great business ideas never materialise. This is a common dilemma that many businesses face. They often speculate about how to raise capital but never reach the ultimate. Before an existing business can raise capital for their new product, they must first identify the different sources of funding available to them, find one that is most compatible with their needs, and then meet the given criteria of the investor or bank. These crucial steps can mean the difference between having the opportunity to successfully raise capital and leaving their new business ideas behind. Even if the company is profitable, its resources are constrained by the profits generated by the firm. In competitive industries like McDonalds, a large financial war chest can not only speed the market penetration but also deter other companies from competing directly with it.

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If finance is not raised efficiently, the ability of a company to accept desirable projects will be adversely affected and the profitability of its existing operations may suffer. The aims of an efficient financial policy will be to raise the appropriate level of funds, at the time they are needed and at the lowest possible cost. The long-term investments made today will determine the value of the business tomorrow. In order to make long-term investments in new product lines, new equipment and other assets, managers must know the cost of obtaining funds to acquire these assets. The cost associated with different sources of funds is called the cost of capital. Cost of Capital represents the rate a business must pay for each source of funds such as debt, preferred stock, common stock, and retained earnings. At present, McDonalds finances its Operations through Share Capital and Retained Earnings mainly. This leads us to a very fundamental objective within financial management that is maximizing values for the owners of the business. Therefore, managing capital is extremely important to fulfilling the basic objective of increased shareholder value. Another source of McDonalds finance is their Current Liabilities. Apparently McDonalds has Negative Working Capital which means the investment in Debtors and Inventory and Emergency Cash Reserve is very low. After investigating McDonalds funding options and conducting a comprehensive research to fully understand their potential targeted consumer base and any major competitors in relation to the launch of the new online-shop as well as Smartphone (McNet), which allows consumers to easily customize their menus and pick it up from a store or even have it delivered home in urban areas, we are proposing the issuance of additional shares (equity financing), since they have proven business models and are already profitable or offer a clear path to sustainable profitability. This proposed investment we believe will help McDonalds increase its market penetration significantly.

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An advantage of using equity financing as a way to raise capital is that the business can pay back the loaned amount throughout a fixed duration of time. In addition, the business can focus on making their product/services profitable rather than worrying about paying back the investors immediately. There are many different funding options available to McDonalds though if they seek to raise capital. However, before they commence their funding quest, we propose they should identify the different sources of capital and opt the one most beneficial. The prospects are endless.

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LikelyChallenges
McDonalds delivered to your home is the perfect solution for all people occupied by

everyday obligations. Spending long hours at work and at school we do not have the strength to spend time in the kitchen and cooking dinner. McDonalds home delivery is a great idea for a quick and tasty meal. Extensive menu McDonalds home delivery allows you to choose every time something else so your meal will never be monotonous. The menu features solid products that have not changed for years. Their quality has been appreciated by millions of people around the world, therefore McDonalds home delivery provides your favorites, sandwiches and proven additives. Breakfast offer convenient, encourage and egg sandwich with bacon. McDonalds home delivery is a delicious McMuffin consists of wheat bread tostowanej lubricated with fresh butter, fried egg, smoked bacon, grilled and rich in protein and calcium cheese. If you feel like something light, try McDonalds home delivery by ordering a croissant without filling or filled with juicy ham and the cheese rozpywajcym. In the morning if you do

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not feel like something salty, you can try sweet croissant, which tastes excellent with coffee. Especially in the morning menu McDonalds home delivery recommended breakfast tortillas with pork, omelet, cheese, tomatoes and lettuce. If you're counting calories especially, you need not fear, for each product gives the number of calories, so you can see how much each sandwich, or dessert has.

Obstacle for McDonald's with the introduction of home delivery can be little movement in restaurants. People working in the kitchen or at the cash desks may lose their jobs. But on the other hand, jobs are created for the couriers and the production. Orders can be increased. Therefore be considerable demand for the suppliers and the people working on the production. The introduction of such a system in Europe will be profitable for the company. The company needs to develop a web-based system that each of us can create custom sets of course meal. You can enter an order by phone for sure but what would be accepted as an innovative company is a good idea to introduce an online store. In this case, there may be systemic problem. Orders can be delivered with a delay. McDonalds has to invest in very good software and hire qualified programmers to control the system to work quickly and smoothly.

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Watson, D. and Head, A., (2010). Corporate Finance: Principles and Practice. 5th ed Prentice Hall: UK WorldPay Ltd., (2011). Why choose WorldPay? Solutions for every business. [Online] Available at: http://www.worldpay.com/about_us/index.php?page=benefits&sub=why&&c=WW> [Accessed 24 November 2011] Yip, G. S., (1982). Diversification entry: internal development versus acquisition: Strategic Management Journal, 3(4): pp.331-345.

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