Fast Food – What Revolves Around It

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Daniel Edwards Fast Food Page 1
Daniel Edwards
FYS 100 - 134
Bill Price
20 November 2017
Fast Food What Revolves
Around It.
Daniel Edwards Fast Food Page 2
Everyone knows that the fast food industry is large but do people realize how much
revolves around it, I don’t think so. The Fast Food industry has become one of the largest
industries in the world today. Spreading around the globe and gaining control over many
producer industries. The sheer size and power of this industry is only understood by some
but the documentary “Food Inc” gives people a slight insight to the size and power of it all.
Each year the fast food industry is expanding with more chains opening up and increasing
the number of stores nationwide and worldwide. This trend has been projected to carry on
increasing for years to come. On the other hand, there are a few larger multinational
corporations who have the power to control large sections of producers in how and what
methods are used to suit their needs. A multinational corporation (MNC) has facilities and
other assets in at least one country other than its home country (Investopedia 2014,
December 05). Every business, company, organization or MNC needs an accountant or
accountants. The jobs demand is high for accountants in this industry but also the demand
for precise, quality work is also very high. This can start to have health detriments on these
accountants as stress can lead to many different health deficiencies. The accountants job in
the world of fast food is a critical one where without them each business would begin to fail
and lose money. Every business has one common goal, and that is to make money. As so
much revolves around the fast food industry and how much control the industry has over
suppliers and consumers the need for maximising profit could possibly it lead to these larger
corporations or MNC’s to break laws in order to increase profit. This will have a large effect
on the accountants, where they will be punished for what has been done. Overall, even
though so much revolves around this large industry there is still an extreme importance for
accountants where issues will arise such as stress and other issues which will come from
these MNC’s who have the power to control many different things within this industry.
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Daniel Edwards Fast Food Page 3
Multinational Corporations (MNC) are massive by size and are some of the most
successful corporations in the world. An example of a MNC in the fast food industry is
McDonald’s, an organization which the majority of the nation has heard of and most
probably has consumed some sort of their products. A study shows the most successful fast
food companies in the USA, obviously the MNCs of this industry are topping the list such as
McDonalds coming in first place, Starbucks coming in second place, then Subway, Wendy’s
and Burger King coming in third, fourth and fifth place respectively (Oches, S. 2017, August
01). If we dig deeper and look at individual statistics from these companies we can easily see
why they are topping this list. McDonalds in 2016, recorded an average sales amount per
unit of $2,550,00. Whereas, Starbucks, had recorded an average sales amount per unit of
$1,132,250. It becomes clear that these larger companies are the ones who make the most
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