The Topics Management And Leadership, Entrepreneurial Qualities And Marketing/ Branding

Summary of Storyline:

Based on a true story, Ray Kroc played by Michael Keaton, acts as a struggling salesman from Illinois who gets his big break by meeting Mac McDonald played by John Carroll Lynch and Dick McDonald played by Nick Offerman, who were the creators of the famous fast food franchise McDonalds in the 1950s in Southern California. When Ray Kroc first saw the restaurant he was impressed by the brothers' “speedy system” of making the food and saw franchise potential. Ray Kroc quickly puts himself into a position of trust with the brothers but then when he wants to make changes that the owners do not agree with he cheats the brothers out of their company and creates a multi-billion dollar empire, not giving the McDonald brothers what was promised.

Introduction:

In this movie review I will be exploring the topics management and leadership, entrepreneurial qualities and marketing/ branding as well as whether Ray Kroc can be seen as an entrepreneur.

Management and Leadership in the Movie:

The definition of management is the process of dealing with or controlling people. This is seen throughout the movie particularly from Ray Kroc. In the movie, The founder, Ray Kroc pitches the idea of franchising McDonald’s, both brothers disagree and explain they have tried it before and it failed. This was because of incorrect management. When Ray Kroc takes over the franchising he ensures that it runs smoothly first offering the restaurants to rich men and then realising that the restaurants are better run by families who care about the business and not just profit. He uses that to ensure that the best work is being done.

The definition of leadership is the action of leading a group of people or an organization, or the ability to do this. Ray Kroc showed great leadership in the way he ensured not only that’s his own restaurant was run well and was kept clean but did frequent checks on the other restaurants to ensure that what needed to be done was being done. He was generous with his workers and helped them achieve more this can be seen in Fred L. Turner, who started at a lower position and worked his way up with the help of Ray Kroc.

Entrepreneurial Qualities:

Entrepreneurial qualities are key to running a successful business no matter what it is. Some of these qualities are;

Having discipline- these people avoid distractions and do what needs to be done.

Confidence- they know what their strengths are and use them to their full ability without second guessing themselves.

Competitiveness- many businesses do well because the entrepreneur knows what their strengths are and that they do a job bette than any one else. They need to do well with the businesses that they create and will highlight their businesses track record of success.

Creativity- Being creative in the workplace means taking risks. Creativity in the workplace is absolutely important. It may help an entrepreneur find a new product that could help his business.

Determination- taking defeat and turning it into success is very important. Most ideas will not workout but if an entrepreneur is determined they may find way to improve what may not be working.

Lastly passion- Without passion there is no point in starting anything It is the most important trait of an entrepreneur. They have to love the work they do. They put in the extra hours to create a successful business that will last and thrive.

In the movie these traits are seen in the McDonald brothers (Mac and Dick) as well as In Ray Kroc. Although Ray Kroc did not start the McDonald’s franchise he did ensure its success. He had a passion for the restaurant from the moment the “speedy system” was introduced to him and from that moment did everything he could to grow the business into the huge competitor it is today.

Marketing and Branding:

Marketing and branding seen throughout the movie. A great example of branding would be the famous Golden Arches that represents McDonalds created originally for the brand. When customers see the arches they know that It Is McDonald’s because it is unique to the brand.

Another good marketing idea was the “speedy system”. Both McDonalds brothers invented the “Speedee System,” this then allowed them to have customers meals ready in 5 minutes or less. This was a new idea that no other competitor used at this time making it unique and desirable because people wouldn’t wait too long for a meal.

Is Ray Kroc an Entrepreneur?

Ray Kroc does have the traits of an entrepreneur but is he considered one? The first thing to do to make this decision is to look at the definition. An entrepreneur Is a person who sets up a business or businesses, taking on financial risks in the hope of profit. The qualities listed above showed that Ray Kroc had most of not all of the qualities however he never started McDonald because not only did he not have the money he did not have the idea. Although I do not believe that Ray Kroc is an entrepreneur because he holds the same qualities he may very well be an intrepreneur, these are individuals within a company who promote innovative product development and marketing. An intrepreneur is a person who behaves like an entrepreneur whilst being employed. Intrepreneurs are usually encourages to develop their ideas into a workable product by the companies they work for. Like an entrepreneur, an intrepreneur manager within a company who promotes innovative product development and marketing. is motivated, creative, and able to think outside of the box, however the benefit of being an intrepreneur is that the risk of failure is far less.

Advantages and Disadvantages of Franchising:

Advantages:

It can Be seen as an advantage to own a franchise because the brand is already established, the brand is trusted and generally we’ll know so people aren’t weary of the products. Training and support is provided by the franchisor. It is also seen as a benefit because franchises offer independency in a small business. It is not necessary to have business experience to run a franchise.

Disadvantages:

Franchises are generally run in a specific way this leaves little room for your own improvements and creativity. They can also be seen as a disadvantage because starting a franchise maybe more expensive than expected, especially if the brand is well known.