RAYMOND ‘RAY’ KROC, who created the McDonald’s restaurant chain, has been described as the Henry Ford of the service industry. He took what he saw as the core elements of an affordable restaurant meal – quality, service, cleanliness, and value – and devised a system that would replicate the experience for diners in any McDonald’s restaurant, anywhere in the world.
His original business model, however, would have been doomed to failure – the franchise fee that he set was too low to fund a profitable business – were it not for the venture having attracted other talented people, one of whom came up with a winning ...
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