A great review of What McDonald’s Can Teach Us About Recovery from an insider involved from the turn-round after 2002. I’ve noted before how Starbucks walked blindfold into exactly the trouble that McD had to dig itself out of, and this short piece makes some great points about how they did it.
- It’s quality of growth that matters, not quantity.
- Fix and drive the business model, don’t reinvent it.
- “It’s the system, stupid!” – i.e. the system that delivers performance, not manipulating ratios or firing magic bullets, and needs intensely detailed measurement and tracking – tedious, but essential.
- Work the plan – in detail.
Not ‘transforming’, not sexy, but great common sense. Many organizations would do well to follow similar principles.