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How did the lumbering fast-food giant McDonald's cure its sclerosis and become a newly slim, hungry rival? Its comeback offers lessons for leaders everywhere in focusing on what their customers really want. For instance, don't respond to competitors, respond to customers. When you broaden your market charm, don't depart your first customers. Don't skimp on product development. McDonald's flattened early in 2003. Sure, it was still the biggest fast-food provider on earth. However the stock collapsed after the company reported its first-ever quarterly damage. Battered by critics, nibbled at by new competition (Subway, Sonic, Quiznos), undermined by overbuilding and a failure to adjust to changes in consumer behaviors and preferences, the giant was exhausted and sagging over its belt. Behind the views, though, a turnaround got begun. A new team of leaders was out to rejuvenate the center brand, shed irrelevant activities, and change McDonald's operations from what the customer really wanted.The storyplot of how they achieved it holds copious lessons for any business faced with bringing new lease of life to a lagging brand. It demanded changes atlanta divorce attorneys phase of an internationally enterprise with $23 billion in sales, 31,000 restaurants, and fully 1.6 million employees.
