It is interesting to know that the menu items of the multinational food chains are customized to suit the general palates of the local people in the region. When McDonald’s started its business in India in the year 1996, the company went through a complete localization strategy. McDonald’s changed its product menu to accommodate the vegetable burger given the large vegetarian population. It also altered its store design and even reduced the product price by close to fifteen percent. Also, the “McAloo Tikki burger” is not available anywhere but in the Indian outlets of McDonalds. Identify the relevant feature of business environment being discussed above.
Answers
This shows the dynamic nature of the business environment.
Explanation:
The business environment is known to be dynamic in nature.
Dynamic means that it keeps on changing.
In the given situation, McDonald’s changed its product menu to accommodate the vegetable burger given the large vegetarian population in contrast to its non-vegetarian menu in foreign countries. This shows that the business environment changes from place to place and time to time.
Multinational firms keep on changing their business strategy like the case of McDonald's to keep up with the customer base and the business environment of particular places. This keeps a business running and makes it capable of expanding to new places.
The feature of Business Environment being discussed above is Relativity.